A Bugatti Type 57S Cabriolet sold for $7,700,000 as the top result at the Amelia Island 2017 classic car auctions. 31 cars sold for more than a million dollar.
The top result at the Amelia Island 2017 classic car auction series in Florida, USA was $7,700,000 for a 1937 Bugatti Type 57S Cabriolet by Vanvooren at the RM Sotheby’s sale. The second highest price paid was $5,665,000 for a 1998 Porsche 911 GT1 Strassenversion at the Gooding sale – a new record price for a 911. The five auction houses with sales during the Amelia Island 2017 week achieved a million dollar on 31 cars with RM Sotheby’s leading the way with 19 cars sold for more than a million dollar.
Amelia Island 2017 Auction Houses
In the battle of the three big classic car auction houses, RM Sotheby’s was the clear winner at the Amelia Island 2017 sales. RM Sotheby’s increased its auction this year to two days with the first day comprising 63 cars from the Orin Smith Collection. All were offered without reserve resulting in a 100% sell-through rate and $31 million in earnings. For the full two-day sale, RM Sotheby’s earned a new Amelia Island record $70.9 million with a sell-through rate of 90%. In 2016, RM Sotheby’s earned $38.6 million with a similar sell-through rate.
As expected, Gooding and Bonhams both earned less in 2017 than in 2016. In 2016, Gooding earned a record $60 million in sales that included the Amelia Island auction record $17,160,000 for a 1961 Ferrari 250 GT SWB California Spider and 16 Porsches from the Jerry Seinfeld Collection. In 2017, Gooding earned $30.8 million with a sell-through rate of 80%.
In 2016, Bonhams had a weak 65% sell-through rate but earned a strong $27.5 million largely due to selling a 1937 Bugatti 57 SC Sports Tourer for $9,735,000 and two further cars for near $3 million. In 2017, Bonhams offered only two cars with estimates above a million dollar and earned $10.2 million with a much-improved 87% sell-through rate.
In the million-dollar-plus car stakes, RM Sotheby’s was also the winner selling 19 cars for more than a million. Gooding sold 9 cars for more than a million and Bonhams, Hollywood Wheels and Motostalgia one each.
Million-Dollar Cars at the Amelia Island 2017 Auctions
The following 31 cars sold for more than a million dollar at the Amelia Island 2017 classic car auctions:
|Year||Car||Price ($)||Estimate||Auction House|
|1937||Bugatti Type 57S Cabriolet by Vanvooren||7,700,000||8,500,000-10,000,000||RM Sotheby’s|
|1998||Porsche 911 GT1 Strassenversion||5,665,000||Upon Request||Gooding|
|1995||Ferrari F50||2,640,000||2,200,000-2,400,000||RM Sotheby’s|
|1956||Maserati A6G/54 Coupe Series III||2,365,000||1,600,000-2,000,000||RM Sotheby’s|
|1955||Ferrari 250 Europe GT Alloy||2,227,500||2,300,000-2,600,000||Bonhams|
|1936||Lancia Astura Cabriolet Series III Tipo Bocca||2,145,000||2,000,000-2,600,000||RM Sotheby’s|
|1964||Ferrari 275 GTB||1,842,500||1,800,000-2,000,000||RM Sotheby’s|
|1929||Stutz Model M Supercharged Coupe||1,705,000||1,000,000-1,200,000||RM Sotheby’s|
|1966||Aston Martin Short-Chassis Volante||1,705,000||1,600,000-2,000,000||RM Sotheby’s|
|1956||Bentley S1 Continental Drophead Coupe by Park Ward||1,683,000||700,000-900,000||RM Sotheby’s|
|2012||Bugatti Veyron 16.4 Grand Sport||1,650,000||1,500,000-1,800,000||RM Sotheby’s|
|1949||Aston Martin DB Mk II||1,540,000||1,500,000-2,250,000||Gooding|
|1993||Porsche 964 Turbo S Leichtbau||1,540,000||1,300,000-1,600,000||Gooding|
|1953||Fiat 8V Supersonic by Ghia||1,375,000||1,600,000-1,900,000||RM Sotheby’s|
|1974||Porsche 911 Carrera RS 3.0||1,375,000||900,000-1,100,000||RM Sotheby’s|
|1954||Mercedes Benz 300 SL Gullwing||1,358,500||1,200,000-1,400,000||RM Sotheby’s|
|1952||Bentley R-Type Continental Fastback Sports Salooon||1,347,500||1,250,000-1,500,000||RM Sotheby’s|
|1958||Rolls-Royce Silver Cloud I Drophead Coupe||1,347,500||1,300,000-1,800,000||RM Sotheby’s|
|1955||Lancia Aurelia B24S Spider America||1,320,000||1,400,000-1,800,000||RM Sotheby’s|
|1955||Lancia Aurelia B24S Spider America||1,300,000||1,500,000-1,700,000||Gooding|
|1953||Lancia Aurelia PF200 C Spider||1,248,500||1,100,000-1,400,000||RM Sotheby’s|
|1933||Rolls Royce Phantom II Special Newmarket Permanent Sedan||1,237,500||700,000-1,000,000||RM Sotheby’s|
|1957||Mercedes Benz 300 SL Gullwing||1,144,000||950,000-1,050,000||RM Sotheby’s|
|1955||Alfa Romeo 1900 C SS Coupe Zagato||1,100,000||800,000-1,200,000||RM Sotheby’s|
|1965||Aston Martin DB5 Vantage||1,100,000||1,100,000-1,300,000||Gooding|
|1991||Ferrari F40||1,100,000||NA||Hollywood Wheels|
|1950||Cisitalia Abarth 204A Monoposto||1,001,000||NA||Motostalgia|
Top Cars Sold at the Amelia Island 2017 Auctions
1937 Bugatti Type 57S Cabriolet by Vanvooren
A 1937 Bugatti Type 57S Cabriolet by Vanvooren selling for $7,700,000 at RM Sotheby’s was top result of the Amelia Island 2017 classic car auction series. It was a worthy leader but slightly unexpected as three cars had higher pre-sale estimates but failed to sell.
The stylish 1937 Bugatti Type 57S Cabriolet is one of only four Type 57S chassis ever fitted with cabriolet coachwork by Vanvooren. The car is highly original with its original engine, chassis, gearbox and body.
The result was the highest at the Amelia Island 2017 auctions and also the highest price thus far paid for a car at public auction in 2017. However, it was still two million less than Bonhams achieved for a 1937 Bugatti Type 57SS Sports Tourer at Amelia Island 2016.
1998 Porsche 911 GT1 Strassenversion
A 1998 Porsche 911 GT1 Strassenversion at $5,665,000 was the second highest price paid at Amelia Island 2017 and the top result at Gooding after the 1957 Jaguar XKSS failed to clear the reserve margins. The result was the highest price ever paid for a Porsche 911 in any variant at public auction.
The 1998 Porsche 911 GT1 Strassenversion is one of only 20 built. The car is basically a street-legal version of the Le Mans winning Porsche 911 GT1 but in the US it may only be enjoyed on a show/display permit.
Top Cars Failing to Sell at Amelia Island 2017
Although the auctioneers generally had a higher sell-through rate in 2017 than in 2016, four of the top cars failed to sell:
|Year||Car||Price ($)||Estimate||Auction House|
|1957||Jaguar XKSS||HB 11,900,000||13,000,000-16,000,000||Gooding|
|1961||Ferrari 250 GT SWB Berlinetta||HB 8,200,000||9,000,000-10,000,000||RM Sotheby’s|
|1950||Ferrari 166 MM Barchetta by Touring||HB 6,900,000||8,000,000-10,000,000||RM Sotheby’s|
|1928||Bentley 4 1/2 Litre Le Mans Sports The Bobtail||HB 6,400,000||6,500,000-7,500,000||RM Sotheby’s|
|2015||Ferrari LaFerrari||HB 3,400,000||3,800,000-4,500,000||Gooding|
The 1957 Jaguar XKSS at Gooding attracted an unsuccessful highest bid of $11.9 million. This was not only the highest bid during Amelia Island 2017 but also the highest bid for a car offered at public auction thus far in 2017. This Jaguar is one of only 16 built and although it has a good in-period racing record, the valuation was seriously hit by having a larger engine block fitted during the 1980s. As a result, the pre-sale estimate was lowered by $3 million.
The two top Ferraris at Amelia Island 2017 both failed to sell at RM Sotheby’s: the highest bid of $8.2 million was not enough to buy the 1961 Ferrari 250 GT SWB Berlinetta and bidding stopped at $6.9 million for the 1950 Ferrari 166 MM Barchetta.
Bidding for the 1928 Bentley 4 ½ Litre Le Mans Sports “The Bobtail” stopped just $100,000 short of the lower estimate but no deal was made.
The $3.4 million bid for a 2015 Ferrari LaFerrari at Gooding would have made it the second highest price paid for one of these supercars. Only three used LaFerraris have been offered at auction yet although the record $7 million paid for the special 500th LaFerrari that RM Sotheby’s sold at a charity auction in 2016 probably lifted the expectations of owners of the other 499.
Million-Dollar-Plus Cars at Amelia Island 2017
Ferraris at Amelia Island 2017
With the two top Ferraris at RM Sotheby’s failing to sell, Ferraris played a rather mute role at the rest of the Amelia Island 2017 auctions. Only five Ferraris achieved results above a million with the top price a strong $2,640,000 for the 1995 Ferrari F50 that originally belonged to Mike Tyson.
Bonhams’ top result at Amelia Island 2017 was $2,227,500 for a 1955 Ferrari Europa GT while RM Sotheby’s sold a Ferrari 275 GTB – several failed to clear reserve margins at auctions earlier in 2017.
Two Ferrari F40s achieved a million dollar with the $1,485,000 paid at Gooding likely to encourage more owners to test the market.
Porsches at Amelia Island 2017
Porsches were again offered in high numbers at Amelia Island 2017 with RM Sotheby’s alone offering 23! Prices were all over the place but with no clear sign that high supply is hindering values.
In addition to the 911 GT1 Strassenversion, three further Porsches sold for over a million. Gooding had further good results on a 1977 Porsche 934/5 and especially on the 1993 Porsche 964 Turbo S Leichtbau that sold near top estimate. At RM Sotheby’s, a 1974 Porsche 911 Carrera RS 3.0 sold for $175,000 above top estimate.
Four Porsche Carrera GTs were on offer at Amelia Island 2017: the two at RM Sotheby’s sold without reserve at a fairly strong $770,000 and $605,000. The two similar cars at Gooding and Bonhams failed to sell despite similar offers.
Although several Porsches failed to clear the reserve margins, the most interesting to watch was probably the 1988 Porsche 959 Komfort at Gooding. Bidding stopped at $800,000 – around $200,000 short of lower estimate and what was paid for this very car less than a year ago at RM Sotheby’s Monaco 2016.
A few further interesting results:
- Four Lancias sold for over a million including two Aurelia B24S Americas.
- Three Aston Martins sold for over a million with a further DB5 missing that mark by only $20,000.
- Two Bentleys and two Rolls-Royce cars from the Orin Smith Collection sold for over a million dollar with the 1956 Bentley S1 Continental Drophead Coupe selling near double estimate.
- Two Mercedes Benz Gullwings sold for over a million dollar with a further 300 SL Roadster just missing that mark.
- A 2015 McLaren P1 sold for a new model record $2,392,500.
- A 1929 Stutz Model M Supercharge Coupe continued the good performances of American pre-war classics at recent auctions to sell at a new marque record of $1,705,000 – half a million above upper estimate.
The next classic car auction series where the top three auctioneers will go head-to-head is only Monterey Week in mid-August but Bonhams will have several European auctions (e.g. Goodwood, Aston Martin Works, Spa) and RM Sotheby’s European (Villa Erba) and American (Motor City) auctions before the summer extravaganza in California.
More on Amelia Island 2017
- The Annual Amelia Island Auctions & Concourse d’Elegance
- 2017 Amelia Island Classic Car Auction Results: Overview, Bonhams, Gooding, RM Sotheby’s
- 2017 Amelia Island Auctions Previews: Bonhams, Gooding, RM Sotheby’s
- 2017 Amelia Island Auction Press Announcements: RM Sotheby’s (Bugatti Type 57S Cabriolet, Ferrari 250 GTB SWB Berlinetta, Orin Smith Collection, Bentley Le Mans, Ferrari 166 MM), Gooding (Jaguar XKSS, Racing Cars, Porsche Supercars, McLaren P1, Aston Martins)
- 2016 Amelia Island Auction Results Overview
Amelia Island auctions in 2017 were on the following dates: 9 March – Bonhams, 10 March – RM Sotheby’s (Orin Smith Collection) & Gooding, 11 March – RM Sotheby’s (main auction).