RM Sotheby’s Stuns the Market with Incredible, Record-Breaking €51 Million “No Reserve” Sale in Milan

28 11 2016

MILAN, ITALY – November 28, 2016 – (Motor Sports Newswire)-

  • RM Sotheby’s captures the attention of the global collector community with record-breaking Duemila Ruote sale in Milan
  • Largest private automotive collection ever sold in Europe, three-day auction smashes expectations, generating an outstanding €51.26 million and attracting extraordinary crowds
  • Motor car sales led by a 1966 Ferrari 275 GTB/6C Alloy for €3.416.000; 2004 Maserati MC12 storms into the record books at €3.024.000
  • Strong results also achieved across the board, with the vast majority of lots far exceeding estimates
  • A remarkable logistics feat, global RM team pulls off event in just 10 weeks, including cataloging, photography and transport of 800+ lots from Venice to Milan
  • Complete results from Duemila Ruote now available online at www.rmsothebys.com
  • From Milan to Florida, RM Sotheby’s joins forces with Ferrari this weekend to conduct exclusive charity auction of 500th LaFerrari

DUEMILA RUOTE BY THE NUMBERS

More than 5,000 auction attendees
Record 3,000+ bidders from 57 countries
30 hours of auction action
817 lots sold

€51.26 million in total sales

In what can only be described as ‘record-breaking’, RM Sotheby’s captured the attention of the global collector community this weekend with incredible results at its Duemila Ruote sale in Milan. Coinciding with the Milano AutoClassica—the Classic & Sports Car Show—the RM Sotheby’s event represented the largest automotive-themed collection sale ever held in Europe. During approximately 30 hours of auctioneering, 817 lots—comprising an astounding selection of motor cars, motorcycles, bicycles, boats and automobilia, all from one single private collection— were sold before a packed house at the Fiera Milano, totalling an incredible €51.263.270* (USD $54.85 million) in sales.

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© www.caldicarphoto.com Simone Caldirola courtesy RM Sotheby’s

Augustin Sabatié-Garat, Car Specialist, RM Sotheby’s comments: “It feels like we achieved the impossible here in Milan this week. The logistical challenges involved with putting on this sale are mind-boggling, but we have risen to the challenge and achieved results that nobody could have anticipated. The auction venue alongside the Milano AutoClassica was busier than we have ever seen in a sale room.”

For auto enthusiasts, the collection’s 423 motor cars, many of which were seen on the open market for the first time in decades, presented a thrilling range of ownership opportunities at every level, driving countless bidding contests over the course of the three-day auction. In a field dominated by rare Italian machinery, top sales honours went to the 1966 Ferrari 275 GTB/6C Alloy; the first of just seven long-nose, six-carburettor, alloy body, torque tube 275 GTBs, its rarity, provenance and freshness to the market propelled it to an impressive €3.416.000. Another star of the show, the 2004 Maserati MC12, sporting less than 6,000kms, stormed into the record books at a remarkable €3.024.000, smashing the previous auction record by a considerable margin.

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© www.caldicarphoto.com Simone Caldirola courtesy RM Sotheby’s

Although there are too many highlights to list individually, other notable sales included the Lancia-built, Ferrari-engined 1991 Lancia-Ferrari LC2 Group C for a staggering €851.200; a 1994 Bugatti EB110 GT for an above-estimate €616.000; a rare manual 2007 Ferrari 599 GTB Fiorano also eclipsed its estimate at €537.600; and a ‘project’ 1952 Aston Martin DB2 DHC achieved an incredible €504.000. Worth noting, strong results were not restricted to just the top-tier vehicles, rather witnessed across all price points. As a category, rally cars of the ’80s / ’90s proved particularly hot, as reflected in outstanding prices for the 1992 Lancia Delta HF Integrale Group A ‘Jolly Club’ at €336.000 (against a pre-sale estimate of €160–€180.000) and the 1989 Lancia Delta HF Integrale 16V ‘Ufficiale’ at a final €246.400. Then there was the group of almost 60 Porsche 911 variants, highlighted by a 1996 Porsche 993 GT2, which massively exceeded estimate at €616.000, not to forget 21 Jaguar E-Types, led by a 1963 Jaguar E-Type S1 3.8 OTS, which garnered €173.600 against a pre-sale estimate of €65-€75.000.

Beyond the automobiles, phenomenal interest was also recorded for other categories included in the sale. A 2008 Ducati Desmosedici led the group of 155 motorcycles at €70.200; the 1984 CUV Lamborghini #1 Offshore Class 1 ‘Miura’, powered by two giant Lamborghini V-12s, dominated the fleet of 55 boats at a massive €117.000; and a Vintage Fire Service Bicycle spearheaded the docket of 140 bicycles at €10.530. The perfect holiday gift for the young enthusiast, even the Jaguar D-Type Children’s Car ignited spirited bidding, selling for €30.420.

RM Sotheby’s Duemila Ruote Top 10 sales:

1. Lot 602 1966 Ferrari 275 GTB/6C Alloy €3,416,000
2. Lot 601 2004 Maserati MC12 €3,024,000
3. Lot 877 1992 Ferrari F40 €1,030,400
4. Lot 875 1988 Porsche 959 “Komfort” €1,008,000
5. Lot 876 1969 Ferrari 365 GTB/4 Daytona Berlinetta “Plexi” €875,600
6. Lot 599 1991 Lancia-Ferrari LC2 Group 2 €851,200
7. Lot 600 2005 Porsche Carrera GT €761,600
8. Lot 572 1969 Ferrari 365 GTC €739,200
9. Lot 588 1994 Bugatti EB110 GT €616,000
10. Lot 588 1996 Porsche 993 GT2 €616,000

rm-sothebys-milan-auction-3

© www.caldicarphoto.com Simone Caldirola courtesy RM Sotheby’s

The event was an unprecedented sale on all levels. From the moment preview opened on Thursday, thousands of enthusiasts,  including bidders from 57 countries, flocked to the Fiera Milano to preview lots. With standing-room-only across all three sale sessions,  83 per cent of bidders represented first-time clients to RM, with strong interest registered from collectors in the emerging markets of Russia, Brazil, Turkey, the Middle East and Asia. With many high performance ‘modern classics’ on offer, many younger generation collectors participated, with approximately 50 per cent of participants under the age of 50.

From a logistical standpoint, the sale reaffirmed RM’s unmatched capabilities as the market leader for private automobile collection sales. The event was pulled off by RM’s global team in just 10 weeks from the time the company was awarded the business through to this past weekend’s event. During this time, a team of nine people from four countries spent 21 days cataloguing and photographing the collection; thousands of catalogues were distributed; and significantly, the massive collection, which had previously filled 11 warehouses in Northern Italy, was transported from Venice to Milan by approximately 100 transport trucks. The collection was then displayed in over 200,000 square feet at the Fiera Milano – the equivalent of four football fields.

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© www.caldicarphoto.com Simone Caldirola courtesy RM Sotheby’s

Augustin Sabatié-Garat, continues: “During approximately 30 hours of frantic bidding, we fielded five individual auctioneers working in shifts to deal with the stream of bidding that was generated within the room, on the phones and on the internet. Proving how attractive a ‘no reserve’ auction can be, we had more than 1000 internet bidders, while some lots required over 20 active telephone lines. This sale has proved beyond doubt that the classic car market continues be very strong with continued interest from all sectors of the market.”

Full results from RM Sotheby’s Duemila Ruote sale are available at www.rmsothebys.com.

Building on the momentum from this weekend’s sale, RM Sotheby’s heads to Daytona, Florida this weekend (3 December) for the charity auction of the 500th LaFerrari. Joining forces with Ferrari, with whom RM has worked closely in the past, the exclusive charity sale will lift the gavel on the very last LaFerrari coupé that will come out of the Maranello factory. The car was created especially by Ferrari to benefit the reconstruction of Central Italy in the aftermath of the devastating earthquakes of 2016. RM Sotheby’s is proud to provide its auction services for this very special auction, held during the Ferrari Finali Mondiali weekend at Daytona Beach, Florida.

*Results are listed in Euros and inclusive of 12 percent buyer’s premium for automobiles and 17 percent for all other lots. Exchange rate used: €1 = 0.86 GBP, $1.07 USD

FOR MORE NEWS FROM RM SOTHEBY’S

Visit: www.rmsothebys.com
Follow: www.twitter.com/rmsothebys
Join: www.facebook.com/rmsothebys
Watch: www.youtube.com/rmauctionsinc

About RM Sotheby’s

RM Sotheby’s (formerly RM Auctions) is the world’s largest auction house for investment-quality automobiles. With 35 years’ experience in the collector car industry, RM’s vertically integrated range of services, from private treaty sales and auctions to estate planning, and financial services, coupled with an expert team of car specialists and an international footprint, provide an unsurpassed level of service to the global collector car market. In February 2015, RM formed a strategic partnership with Sotheby’s, uniting the two companies for the full calendar of future automobile auctions. For further information, visit www.rmsothebys.com.

About Milano AutoClassica

Milano AutoClassica is an unmissable event on the classic car calendar, providing an incredible showcase and history of the automobile. For three days, car enthusiasts can breathe, live and talk about cars from all points of view, thanks to the event’s perfect blend of historic and new automobiles. Milano AutoClassica keeps its promise of being a hub where past and present car enthusiasts can come together and admire a rich mix of vintage motoring masterpieces, as well as inspect a wide range of vintage cars presented for sale. The event also features dedicated areas devoted to parts and vintage models for collectors, clubs, historical registers and museums, as well as thematic exhibitions of models / makes celebrating special anniversaries. The incredible exhibition also shines a spotlight on various carmakers, displaying iconic models from the past alongside today’s newest entries. For further information on the Milano AutoClassica, please visit www.milanoautoclassica.com.

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