Artcurial’s Monaco auction: Sales concentrate on the gems
On July 2, the Grimaldi Forum in Monte Carlo hosted this year’s Artcurial summer classic car sale, an event that saw 119 cars and two Riva runabouts up for sale. One car that had been expected to be offered was withdrawn before the auction. The total turnover generated by the sale was EUR 8 million, including the commission of 16.6% + VAT on the hammer price for lots selling for between EUR 1 and 900,000, and the 12.5% for any portion of sale values above this range. In all, 32 cars were offered without reserve, but not all of these were sold. Overall, 63 of the lots changed hands, a figure corresponding to a final sale rate of 52%. As we are increasingly seeing nowadays, racing cars, cars boasting long-term ownerships, and perfectly restored cars are the ones attracting the attention of the market.
The auction’s most expensive car, and also the only one to break the EUR 1 million barrier, was a 1974 Porsche Carrera RSR 3L (chassis #9114609113) with a wonderful racing history. It was presented in “ready-to-race” condition and sold for EUR 1,769,300 including commission, slightly above its pre-sale estimated value of EUR 1.4–1.6 million. The event’s cheapest car at EUR 23,984 was a 1965 Osi 1200 S cabriolet (chassis #040550) which fell considerably short of its estimated value of EUR 35–55 K. Neither of the Riva runabouts found a new home.
1974 Porsche Carrera RSR 3L © Philippe Louzon
Artcurial’s Monaco auction: The six cars we previewed
Three of the six cars we covered in our preview were sold, one of them, the 3-liter 911 RSR, fetching the highest price of the day. The second of our selected cars to find a buyer was the sale’s sixth most expensive lot, namely the 1958 Lancia Aurelia B24 Cabriolet with hard top; this car, which had been with the same family since 1968, came under the hammer at EUR 233,844 after an estimate of EUR 220–280 K. The other car in our selection to find a buyer was the 1958 Fiat 600 Jolly Ghia, which, boasting one family ownership since new, also reached its pre-sale estimated value range (EUR 80–120 K), selling for EUR 89,940. Our other three choices – the 1962 Ferrari 250 GT Cabriolet, the 1965 Maserati Mistral 3700 Spyder, and the 1953 Jaguar XK 120 Coupe, all failed to sell.
The Top Ten at the Grimaldi Forum
The Top Ten cars, representing 8.5% of the lots, sold for an overall value of EUR 4.4 million (55% of the total value of the sale). The top-selling car has already been mentioned in the review of our selected six. The second most expensive was a 2015 Ferrari 458 Speciale Aperta (chassis #ZFF78VHB000213929) with one owner from new and 4200 km on the clock; it sold for EUR 539,640 after an estimate of EUR 500–700 K. Third place went to a 2005 Saleen S7R (chassis #0060). This car, which has notched up a number of victories in the FIA GT championship, sold for EUR 431,712 after being assigned a pre-sale estimated value of EUR 400–600 K. The fourth most expensive was a Ferrari Classiche-certified 1967 Ferrari 330 GT 2+2 (chassis #9419), which was restored in 2014, undergoing a mediocre paint job but keeping its original interior. It fetched EUR 383,744 just exceeding its estimated range of EUR 340–380 K.
Fourth most expensive car: Ferrari Classiche-certified 1967 Ferrari 330 GT 2+2.
Fifth spot went to a 2005 Ford GT (chassis #1FAFP90S45Y401500), one owner from new, which almost reached the top end of its estimated range (EUR 300–350 K), selling for EUR 347,768. After the 1958 Lancia Aurelia B24 Cabriolet in sixth place, the next two cars in the top ten, taking seventh and the eighth place, were both cars with just one owner from new. They both fetched a final price of EUR 179,880. One was a 1986 Porsche RUF BTR Cabriolet (chassis #150838), which had been valued at EUR 120–200 K, and the other was a 1993 Porsche 911-964 Jubilè number 125 (chassis #WP0ZZZ96ZPS402330) with a pre-sale estimate of EUR145–165 K.
This ranking should really be called the Top Eleven, given that the Jubilè was followed by three cars all coming under the hammer at exactly the same price, EUR 161,888. They were a 1961 Porsche 356 BT5 Super 90 Cabriolet (chassis #154668), which has been with the same owner for the past 11 years and was given a pre-sale estimate of EUR 130–170 K, a 1963 Jaguar E-Type 3.8 Roadster (chassis #879161), fresh from a high-level restoration and valued, before the auction, at EUR 150–180 K, and a 1982 Renault 5 Turbo competition-client (chassis #C0000069), ex-Cevennes, with a known history and a pre-sale estimated value of EUR 110–160 K.
Some other cars
Monaco auction: 1990 Mercedes-Benz 190E 2.5-16 Evo II
In an otherwise rather subdued sales room, some lots really heated up the atmosphere. The car attracting the highest number of bidders was a 1990 Mercedes-Benz 190 E 2.5-16 Evo II (chassis WDB2010361F742667), one of the only 500 manufactured, boasting a single ownership lasting more than 20 years. This car, with almost 150 K km on the clock, looks perfect outside and in, but needs some work on the engine bay. It sold for EUR 137,908, far surpassing its pre-sale estimate of EUR 50–80 K.
A similar level of enthusiasm greeted a 1959 Fiat Nuova 500 (chassis #148822), an early model still featuring fixed side windows. Well restored three years ago, it has been used sparingly ever since. Offered without reserve, it sold for EUR 27,582, also far exceeding its pre-sale estimated value range of 14–18 K. To promote the sale of a 1991 Porsche 928 GT, a mechanical transmission, sun-roofed car once owned by Johnny Hallyday, auctioneer Matthieu Lamoure unexpectedly showed off his singing talent! After some fierce bidding, the car, which had about 120 K km on the clock and looked wonderful in spite of some problems with the paint on the front hood and fenders (as though something had dripped on them), was sold for EUR 73,151 after an estimate of 50–70 K – a well-deserved result.
Sold with some singing: Porsche 928, ex Johnny Hallyday.
From the purchasers’ perspective, the best deal of the day was the one sealed by the new owner of a 1974 Chevrolet Corvette Cabriolet 455 Ci (chassis #1z67z4s412645), equipped with a big block engine and the ultra-rare 4-speed mechanical gearbox, in very good condition. Having been assigned as estimated value of EUR 30–40 K, it was snapped up for just EUR 25,183.
Picture of the Porsche 911 courtesy of Artcurial. All other courtesy of the author.