A Ferrari 275 GTB/6C sold for $3,655,120 while a Maserati MC12 set a new model record of $3,235,680 at the RM Sotheby’s Duemila Ruote sale in Milan. The auction was the largest single-owner automotive sale ever in Europe and many of the 423 cars on offer sold well above estimate.
RM Sotheby’s Duemila Ruote Milan Sale
RM Sotheby’s Duemila Ruote classic car and auto memorabilia sale in Milan in November 2016 during the Milano Auto Classica classic and sports car show broke several auction records. It was the largest private automotive collection ever sold in Europe in a single, three-day auction: 817 lots including 423 cars.
Although the total earnings of €51,263,270 ($55 million) is far below what RM Sotheby’s would gain from for example Monterey or Scottsdale, it still represents a surprisingly strong result from cars far cheaper than usually sold at RM Sotheby’s auctions.
Many cars sold well above pre-auction estimates with many in very original unrestored condition. Porsche was a clear favorite of this vendor: some 60 Porsche 911s were on offer. Another interesting group was 21 E-Type Jaguars.
RM Sotheby’s Duemila Ruote Sale Top Results
The following were the top-ten results at the RM Sotheby’s Duemila Ruote sale in Milan in November 2016:
|Year||Car||Price ($)||Price (€)|
|1966||Ferrari 275 GTB/6C Alloy||3,655,120||3,416,000|
|1988||Porsche 959 Komfort||1,078,560||1,008,000|
|1969||Ferrari 365 GTB/4 Daytona||934,752||873,600|
|1991||Lancia-Ferrari LC2 Group C||910,784||851,200|
|2005||Porsche Carrera GT||815,000||761,600|
|1969||Ferrari 365 GTC||791,000||739,200|
|1994||Bugatti EB110 GT||659,120||616,000|
|1996||Porsche 993 GT2||659,120||616,000|
1966 Ferrari 275 GTB/6C Alloy
The top result at the RM Sotheby’s Duemila Ruote sale was as expected for a 1966 Ferrari 275 GTB/6C Alloy that sold for $3,655,120 – the pre-auction estimate was €2.4-2.8 million. This was the first of only seven long-nose, six-carburetor, alloy body, torque tube Ferrari 275 GTBs built. It is a matching numbers example and has been in single-family ownership for 36 years. The result was the highest for a Ferrari 275 GTB at auction this year.
2004 Maserati MC12
The 2004 Maserati MC12 that achieved $3,235,680 was one of the surprise results at the RM Sotheby’s Duemila Ruote sale. The pre-auction estimate was a more modest €1.1-1.3 million inline with prices previously achieved for this model. The result set a new model record and was more than double the $1,430,000 paid for a 2005 Maserati MC12 at the RM Sotheby’s Monterey 2016 sale and a million higher than for any of the four MC12s sold at auction in the past four years. Only 50 Maserati MC12 cars were ever built.
1992 Ferrari F40
The 1992 Ferrari F40 at the Duemila Ruote sale was at $1,102,528 the cheapest F40 of the six sold at auction this year but not by much. The pre-auction estimate was only €725-875,000 as this Ferrari F40 came with non-standard wheels and with slightly modified fenders. Although catalogued as having covered less than 26,800 km, that is quite a lot for these supercars.
1988 Porsche 959 Komfort
The 1988 Porsche 959 Komfort sold for $1,078,560 well above the €6-700,000 estimate. The market’s appetite for Porsches seems unabated and this result is inline with similar cars sold during 2016. The car was helped by having covered only 29,200 km since new – relative low, but not exceptionally so, for a Porsche 959.
Near Million-Dollar Results at RM Sotheby’s Duemila Ruote
A few of the cars that sold near a million dollar is worth noting – expect more owners to continue testing the market at auctions in the near future:
- The 1969 Ferrari 365 GTB/4 Daytona Berlinetta that sold for $934,752 is a matching-numbers, European-specification model with Plexiglas headlights. Only two of the 14 Daytonas offered at auction in 2016 sold for more.
- The 2005 Porsche Carrera GT achieved with $815,000 the third-highest result of any of the at least 20 Carrera GTs offered for sale at public auction in 2016. Although short of a million, many Carrera GT owners may take heart as with 7,500 km covered, this Porsche was much more used than many of the others that failed to achieve similar results this year.
- The 1996 Porsche 993 GT2 sold for €616,000. This surprising best result from the 60 Porsche 911 derivatives on offer massively exceeded the pre-auction estimate of €30-35,000!