Amelia Island Auctions Top $80 Million

Amelia Island, FL — Live action at the Amelia Island auctions wrapped up Saturday with a cumulative total of $80.1 million, and post-block sales are continuing this week.

Top sale at the Amelia Island auctions? This Ferrari 275 GTB. Photo: RM Sotheby’s Auctions

Data from Hagerty puts the overall sell-through rate at 71% — a 2% increase over 2018 — and the average sale price increased to $249,646 from last year’s $240,822.

 

Overall top 10

  • 1965 Ferrari 275 GTB Coupe: $2.205 million (RM Sotheby’s)
  • 1967 Shelby Cobra 427 (CSX3300 – CSX3360) Roadster: $1.792 million (RM Sotheby’s)
  • 1930 Packard Speedster-Series 734 Boattail Roadster: $1.765 million (Gooding & Company)
  • 1930 Duesenberg Model J LeBaron Dual Cowl Phaeton: $1.65 million (RM Sotheby’s)
  • 2010 Bugatti Veyron 16.4 Sang Noir Coupe: $1.5 million (RM Sotheby’s)
  • 2015 McLaren P1 Coupe: $1.49 million (RM Sotheby’s)
  • 2015 Porsche 918 Spyder Weissach Roadster: $1.49 million (Gooding & Company)
  • 1926 Hispano-Suiza H6B Chapron Cabriolet Le Dandy: $1.352 million (RM Sotheby’s
  • 1965 Ferrari 275 GTS Spider: $1.325 million (Gooding & Company)
  • 1934 Packard Twelve-Series 1108 Dietrich Convertible Sedan: $1.325 million (RM Sotheby’s)

Bonhams | $16 million; 84% sell-through

Gooding & Company | $22 million; 88% sell-through

RM Sotheby’s | $38.1 million; 84% sell-through

Russo and Steele | $3.7 million; 30% sell-through

Hagerty Price Guide Publisher Dave Kinney noted that “the trend which started 18 months ago continues to intensify in the auction market and was on display here at Amelia. Simply put, that trend shows newer cars are eliciting more interest and, in some cases, are achieving higher dollars than their older brethren. Vehicles over $1 million are not coming to market as often, but when they do, the sales results are mixed. There are both real and perceived changes in the auction marketplace; this will prove to be a most interesting year.”

A look at the ratio of million-dollar sales to million-dollar offerings for Amelia Island shows 2018’s ratio was 0.54. This year, that number fell to 0.43 – close to half of 2015’s ratio of 0.85.

Examining sales by decade reveals that newer cars are doing well while older cars (brass-era motorcars aside), are not getting as much attention. With all of the Don C. Boulton Collection of brass-era (1890-1919) vehicles selling at Bonhams, the sell-through rate for pre-1920s vehicles improved from 2018 to 2019. However, for vehicles of the 1990s and 2000s, the sell-through rate improved from 66% in 2018 to 84% this year. Among vehicles from the 1930s to the 1980s, the sell-through rate decreased in these sale results. The largest drop was among cars from the 1950s that went from a rate of 65% in 2018 to just 49% this year.

–Thanks to Jonathan Klinger, Hagerty’s VP of Public Relations, for providing auction data and commentary.