RM Sotheby's Achieves More Than $35.8 Million in Amelia Island with Best-of-Category Motor Cars

Mar 10, 2020 4 min read
RM Sotheby's Achieves More Than $35.8 Million in Amelia Island with Best-of-Category Motor Cars

94-percent of the lots sold!

RM Sotheby’s returned to the Ritz-Carlton at Amelia Island this past weekend for the company’s 22nd annual sale as the official auction house of the renowned Amelia Island  Concours d’Elegance. A two-day auction for 2020, the sale was a resounding success, totaling  more than $35.8 million and with 94 percent of all lots offered finding  new homes. Bidder registration exceeded that of 2019, representing 30 countries and with 17 percent bidding with  RM Sotheby’s for the first time.

Attendance was high throughout preview hours on all days, which translated to a packed auction room on Friday evening and an even more impressive crowd for Saturday’s auction, which was effectively standing room only. There was sustained, energetic bidding throughout both sale sessions, from start to finish, beginning with the sale of the 1984 Tiga SC84 Sports 2000, generously offered by John and Aimee Oates to benefit the Amelia Island Concours d’Elegance Foundation. The Rock & Roll Hall of Famer drove the race car onto the auction block following an introduction from Concours Founder and Chairman, Bill Warner. The Tiga sold for $50,400, with all proceeds benefiting the Foundation’s support of Spina Bifida of Jacksonville.

Top sales of the auction demonstrate strong interest in high-quality, new-to-the-market cars across all categories, led by a low-mileage 2003 Ferrari Enzo offered from 15 years of meticulous ownership in the Lingenfelter Collection, which sold for a final $2,782,500. The Enzo is followed by the exceedingly rare, beautifully restored 1938 Bugatti Type 57 Cabriolet, the only example in the three-seater Aravis style body configurationby D’Ieteren. The Bugatti saw immediate interest from international bidders, bringing a final $1,655,000. The top three is completed by a 1963 Ferrari 250 GT/L Berlinetta Lusso, an attractive, beautifully restored and award-winning example, which sold for $1,600,000.

“We are thrilled with the results of our Amelia Island auction from all perspectives,” commented Gord Duff, Global Head of Auctions, RM Sotheby’s. “Despite widespread market concerns heading into the sale week, our results alongside those of our competitors prove that best-of-category, top-quality motor cars of all eras continue to draw interest and confidence from collectors, and that participation in the collector car market remains healthy. We saw high energy in the auction room and great response to our auctioneer, Mike Shackelton,  translating to strong prices for our most valuable  offerings as well as for some truly unique lots. We look forward to  continuing the momentum at our Palm Beach sale in a couple of weeks.”

Additional  highlights from RM Sotheby’s Amelia Island sale include additional  modern supercars, including a Canepa-upgraded, California-legal 1987 Porsche 959 Komfort at $1,050,000, a virtually as-new 2004 Porsche Carrera GT offered without reserve and bringing $786,000, a 2019 Porsche 911 GT2 RS Clubsport, far exceeding pre-sale estimate at a final $527,500, and a pair of Ford GTs, including a rare 2.4-mile 2006 Ford GT Heritage at $533,000 and a four-option 2005 Ford GT offered without reserve from The Keith Crain Collection at a final $384,500. Illustrating continued interest in modern classics and future collectibles, a 1990 Mercedes-Benz 560 SEC AMG 6.0 ‘Wide-Body’ nearly doubled its pre-sale estimate of $220,000 - $260,000, selling for $390,000.

Not to be forgotten, pre-war Classics also brought healthy prices, including a one-off 1932 Duesenberg Model J Stationary Victoria offered from the Collection of John D. Groendyke and available publicly for the first time in 70 years, which sold for a final $1,325,000, as well as a 1925 Bentley 3-Litre Speed Model Tourer, offered from 45 years of ownership in the Todd & Peggy Nagler Collection and going to a new home for $335,000. Several niche lots smashed their pre-sale estimates at Amelia Island, including a 1904 Cretors Model D Popcorn Wagon at $156,800, a 1970 Lola T165 Can-Am at $665,000—tripling expectations—and a 1962 Fiat 600 Jolly at $151,200

RM Sotheby’s Amelia Island 2020 Top Ten Sales

  1. Lot 146 2003 Ferrari Enzo (CHASSIS NO. ZFFCW56A530132654) $2,782,500
  2. Lot 241 1938 Bugatti Type 57 Cabriolet (CHASSIS NO. 57589 $1,655,000
  3. Lot 236 1963 Ferrari 250 GT/L Berlinetta Lusso (CHASSIS NO. 5183) $1,600,000
  4. Lot 243 1961 Ferrari 250 GT Cabriolet Series II (CHASSIS NO. 2587) $1,352,500
  5. Lot 250 1932 Duesenberg Model J Stationary Victoria (ENGINE NO. J-490) $1,325,000
  6. Lot 263 1930 Duesenberg Model J Convertible Coupe (ENGINE NO. J-143) $1,132,500
  7. Lot 129 1987 Porsche 959 Komfort (CHASSIS NO. WP0ZZZ95ZHS900081) $1,050,000
  8. Lot 261 1930 Cadillac V-16 Sport Phaeton (ENGINE NO. 702515) $802,500
  9. Lot 260 1939 Bugatti Type 57C Stelvio (CHASSIS NO. 57834) $797,000
  10. Lot 140 2004 Porsche Carrera GT (CHASSIS NO. WP0CA29884L001061) $786,000

The RM Sotheby’s Group returns to Florida, 20-21 March, for the company’s 18th annual South Florida auction, this year set at the Palm Beach International Raceway. The two-day sale will present more than 350 quality collector cars, including several single-owner private collections offered without reserve. The digital preview catalogue for the Palm Beach auction is now available at rmsothebys.com and additional highlights will be announced in the coming week.

Source: RM Sotheby’s

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