Tuesday 29th November 2016

RM Sotheby's 'Duemila Ruote' sale results

Three days, 817 lots and more than 50 million euros - it was one heck of an auction!

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The Duemila Ruote sale was always going to be a spectacular one, given both the calibre and quantity of cars going under the hammer without reserve. After an auction that lasted more than 30 hours across three days with more than 3,000 bidders, the final results are now in.

While attention in the 51.2 million-euro auction will inevitably be drawn to the star lots - the Maserati MC12 at 3m euros, the million-euro Porsche 959 and the Ferrari 275 GTB that made 3.4m euros - there were some very interesting sales at less than seven figures too.

You'll remember from the auction preview that a lot of Italian cars were being sold, with the Lancias in particular doing well. A Jolly Club Group A Integrale sold for 336,000 euros (having been expected to make between 160 and 180,000) and another similar spec (but earlier) car made 246,400. Beyond the MC12, notable lots from Maserati included a pair of Ghiblis from 70/71 that sold for more than 300,000 euros. There was even a nearly affordable Ferrari, this manual 400i going for 67,200 euros. And it would appear every single one of the Ford lots sold as well, proving that this was an auction catering to all sorts of tastes. That yellow Sierra Cosworth looks entertaining...

Of course there are hundreds more lots to discuss, but then we would all be here until the next auction for a detailed look at all those! Here's an interesting one to finish on though: given the crazy money a 993 GT2 sold for at the London sale, to see the hammer fall at 616,000 euros for a race version doesn't look too bad. Until you see that a Bugatti EB110 GT sold for exactly the same money. It's still a funny old auction world out there!

See the full list of cars sold here.

[Photos: RM Sotheby's]

[rampageturke]

Some of these lots seem surprisingly "sensible" with the price they sold for, compared to some of the silly prices we've been seeing the past few years

[54Kab]

- on the contrary, most of the hammer prices were way in excess of 'reality' (considering condition and/or lack of history etc). Definite 'auction fever' for many, lots of first-time bidders there. The hype /marketing helped of course.

[robemcdonald]

The prices seem all over the place. Lots of cars are cheaper than I would have thought and many are much more expensive.

Pretty normal looking GTV6 with a race paint job? E33K
Sierra Cosworth? E12K

Very odd.

[anonymous-user]

A lot of the cars had limited provenance/history or even documentation AIUI

[PhantomPH]

The prices I have seen have been utterly nuts. Nowhere for them to go, surely? €3m for an MC12?

I also saw a 1973 Karmann Cabrio (Beetle) for over €21k and the knackered shell of a Sierra Cossie for >€33k! Have a word.

http://www.rmsothebys.com/tv16/duemila-ruote/lots/...

[LordGrover]

Don't think it was this sale, but I read somewhere an Alfa Tipo 33 Stradale changed hands for a princely sum recently.

[Blayney]

The viper gtsr had an estimate of 13-18k for some reason... sold for 240k.

[pattyg]

€13.4k for a 98 Boxster seems excessive. Auction fever on the lower priced cars.

[DonkeyApple]

All those Euros flying about desperate to be converted into tangible assets. It's almost as if the Italian banking system is on the verge of collapse and the Germans are talking about bailing in the Italian peoples' savings.

[The Wookie]

Some incredible numbers in there but one thing stands out...

http://www.rmsothebys.com/tv16/duemila-ruote/lots/...

WTF was this stter being sold in that auction for??

[Over over under steer]

DonkeyApple said:

All those Euros flying about desperate to be converted into tangible assets. It's almost as if the Italian banking system is on the verge of collapse and the Germans are talking about bailing in the Italian peoples' savings.

Incredibly insightful and probably not far off the truth. Good comment

[PhantomPH]

The Wookie said:

Some incredible numbers in there but one thing stands out...

http://www.rmsothebys.com/tv16/duemila-ruote/lots/...

WTF was this stter being sold in that auction for??

Even more remarkably, there was someone who clearly thought, "I'll have that!" and paid over €2k for it!!! I wonder if they are interested in these magic beans I have...

[Leins]

The Wookie said:

Some incredible numbers in there but one thing stands out...

http://www.rmsothebys.com/tv16/duemila-ruote/lots/...

WTF was this stter being sold in that auction for??

TBF, it looks cleaner than most of the other cars there

[The Wookie]

Leins said:

TBF, it looks cleaner than most of the other cars there

Probably because whoever owned it previously put it under a cover and never drove it so they wouldn't have to look at it!

[beerexpressman]

What happened to the other De Tomaso Pantera with a €15k estimate?

[fatboy18]

We have been talking about this on the other thread too
http://www.pistonheads.com/gassing/topic.asp?h=0&a...

I was there and saw all of the cars up close, most cars were in a barn find condition, many had missing parts, and had not been run for ages, some cars showed signs of being pulled out by chains from where ever they had been left to rot. Other cars were rally prepped bodyshells but not much else, an engine but no exhaust headers of electrics. Old Jags in not the best condition. The old rusting Bob sleighs and old Bicycles made my eyes water with the price they were fetching! What was totally wrong about this auction was the stupid estimates placed on the lots in the catalogue, cunning marketing plan or not but RM Sotheby's took 100 euros off of everyone registering to bid. We were not idiots and knew some estimates to be very low, but almost Everything sold at stupid prices.
If you had actually seen many of the cars up close there was some real Junk.

You could have sold anything that weekend for daft money.
OK this one got me, sold for 29k One of these in mint condition is around the 135k mark, but the roof was caved in no interior rotting body, no side sills, steering column bent where they had towed the car out of what could only have been a lake. I know there are some skilled people out there that restore junk (I mean cars) but this one was very bad
http://www.rmsothebys.com/tv16/duemila-ruote/lots/...

[RichB]

fatboy18 said:

We have been talking about this on the other thread too
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
...The old rusting Bob sleighs and old Bicycles made my eyes water ...

I can only agree, I had no idea old rusty bob-sleighs were worth thousands!

[NickCQ]

I imagine there was a reason the Bugatti was cheap:

"Please note that this EB110 is not fitted with its original engine. Please note this lot is currently under an order of seizure, which will be removed following the sale. Upon receipt of payment from the buyer, RM Sotheby’s will liaise with the appointed administrator for release of the seizure, which is expected to take approximately 10 days. During this time, lots will remain onsite at the Fiera Milano and collection can be arranged after confirmation from RM that the seizure order has been lifted. For lots with a current Italian libretto, please be aware that the PRA must remove the seizure order from its records before re-registration can take place in any country. This process is expected to take 6-8 weeks, during which lots may be transported to an EU destination but may not be exported."

[anonymous-user]

NickCQ said:

I imagine there was a reason the Bugatti was cheap:

"Please note that this EB110 is not fitted with its original engine. Please note this lot is currently under an order of seizure, which will be removed following the sale. Upon receipt of payment from the buyer, RM Sotheby’s will liaise with the appointed administrator for release of the seizure, which is expected to take approximately 10 days. During this time, lots will remain onsite at the Fiera Milano and collection can be arranged after confirmation from RM that the seizure order has been lifted. For lots with a current Italian libretto, please be aware that the PRA must remove the seizure order from its records before re-registration can take place in any country. This process is expected to take 6-8 weeks, during which lots may be transported to an EU destination but may not be exported."

It certainly wasnt the only one with 'issues' IIRC

[dpop]

Sad to see the classic car market is awash with money launderers, ruining it for the rest of us!