The first big auctions in the European calendar have just taken place at Rétromobile Paris, and as usual Hagerty were there to experience the sales first-hand.
Overall, auction sales tended to be strong, with many cars exceeding their estimate – possibly the result of a large number of private buyers.
Notable cars were many: at RM Sotheby’s a very original early Porsche 912 sold for an astonishing €92,000 (estimate €40,000 to €60,000). With values of early 911s on the whole static or dropping from their peak in 2016/17, this is an interesting result for the 4-cylinder model that used to be so unloved.
Talking of unloved, the Ferrari 250 GTE is always the poor relation to its other 250 stablemates. RM sold one in Paris for a whopping €516,875, some way higher than the top Hagerty Price Guide value of £420,000.
Bugattis also sold well: a 2017 Chiron for €3.3m and the 1993 EB110 Super Sport Prototype for €1.152m, as did other newer cars: a 2005 Maserati MC12 sold for a shade over €2m.
Other high-ticket items didn’t fare so well: the ex-Johnny Hallyday Iso A3/C, a Ferrari 275 GTB ‘Long Nose’ and a Ferrari 166MM Spider all failed to find new home.
Over at Bonhams there was a good sell-through rate and some interesting cars: a Ferrari F1 team Iveco transporter made €103,500 and someone spent €9,200 on an MG Metro Turbo estimated at €15,000-€20,000.
Artcurial’s big-ticket range was huge, with numerous cars estimated at over €1m. Highlights were a wonderful 1938 Bugatti Type 57C Atalante, which sold for €2.836m, a little short of estimate. A 1964 Porsche 904 did the opposite, selling for €1.828m, just over top expected price. Maserati A6GCS/53 Spyder ‘No. 645’ with superb racing history sold for €2.445m.
Overall, sales were strong and the results supported Hagerty’s prediction, given after the Scottsdale auctions, that the market would remain stable and maintain gradual growth throughout 2018.
Figures quoted are inclusive of fees where applicable. For more market insight please visit Hagerty Classic Cars.
By: John Mayhead