BH Auction opened its 2026 season with strong headline results and nuanced market signals, generating more than ¥507.5 million ($3.19 million) in total sales at its January 10 auction held during the Tokyo Auto Salon at City Circuit Tokyo Bay. The sale featured 36 cataloged lots, with 34 crossing the block, and was led by a world-record-setting result for an Alpina V8 Roadster.
The top result came from a 2003 Alpina V8 Roadster based on the BMW Z8 platform. Showing just 746 miles, the car was one of 18 examples originally delivered to Japan. It sold for ¥78,810,000 ($498,300), establishing a new global auction record for the model and setting the tone for the season-opening event.
Several high-profile European cars followed closely behind. A 1975 Ferrari 365 GT4 BB, formerly part of Jay Kay’s collection and restored in London by Joe Macari from bare metal, achieved ¥77,700,000 ($488,255). A 1992 Porsche 964 Carrera RS N/GT sold for ¥37,285,000 ($234,294), while a 2008 Alfa Romeo 8C Competizione brought ¥46,065,000 ($289,465).
Not all premium offerings found buyers. An unraced 1979 BMW M1 Procar failed to meet its ¥180 million to ¥220 million estimate, and a 1947 Alfa Romeo 6C 2500 Sport Freccia D’Oro also went unsold against its projected range.
Among Japanese domestic market vehicles, the standout was a Tommykaira R-Z built on a Nissan Skyline GT-R V-Spec platform. One of 35 Tommykaira cars produced and one of 11 top-tier R-Z models, it featured a bored-out engine producing 530 horsepower along with magnesium wheels, Bilstein dampers, and AP Racing brakes. The car sold for ¥98,346,000 ($618,000), landing within its estimate.
Other JDM results were more mixed. A 1968 Honda S800 M sold for ¥7,825,500 ($49,482), while several high-profile models failed to sell, including multiple Nissan Skyline GT-R variants, a Fairlady Z432R, and a Mitsubishi Lancer Evolution VI RS.
The auction also offered early insight into the evolving market for Group A-era performance cars. Two modified Lancia Delta HF Integrales achieved their estimates despite recent softening in values for the model. A 1993 Evo II sold for ¥9,102,000 ($57,600), while a more heavily modified 1993 Evo I exceeded expectations at ¥8,325,000 ($52,640).
Together, the results highlighted both continued demand for rare, top-condition examples and growing selectivity among buyers as the collector car market enters 2026.
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