A closer look at the results of the Bonhams 2018 Arizona auction
The Bonhams 2018 Arizona sale, held at the Westin Kierland Resort on Thursday January 18th, achieved good results, which can be summarized in a few figures: a total turnover (including the 10% commission) of USD 25.2 million, a sale rate of around 84%, and an average price per lot sold of USD 271 K. Indeed, only seventeen of the 110 cars offered failed to sell, while seven sold for more than USD 1 million. A world record price was broken during the event, the new record being set by the car that, as expected, turned out to be the sale’s most expensive: the 1958 Porsche 550A Spyder (chassis #550A-0145). This car was also the only one to break the USD 5 million barrier, while another (a 1972 Ferrari Daytona Spyder) crossed the USD 2 million mark, and a further five each sold for well over a million dollars. As predicted, the event’s lowest price was fetched by a 1989 Shelby Dakota (chassis # 1B7FL96Y2KS114902), one of the only 995 red Shelby Dakotas ever built, which sold for USD 13,200, well below its pre-sale estimate of USD 20–30 K. All the amounts given include the buyer’s premium of 10% on the hammer price. In general, the sale was characterized by strong results, after fierce bidding for some lots, and it provided confirmation that there are new, international, buyers coming onto the market.
The six cars we previewed
Five of the six cars featured in our preview of the 2018 Bonhams Arizona auction changed hands at the weekend, three of them becoming the sale’s three most expensive lots. One of “our six” set a new world record for its model, while four, including the three top sellers, made it into the Top Ten. As expected, the lot securing the highest price was the 1958 Porsche 550A Spyder, a matching numbers car with a wonderful racing history and a well-known past. Setting a new world record for its model, it sold for USD 5.17 million, a price perfectly in line with its pre-sale estimate of USD 4.5–5.5 million.
The auction’s second most expensive lot was the 1972 Ferrari 365 GTS/4 Daytona Spyder, the 72nd of just 123 manufactured in total. It sold for USD 2.64 million, showing that, in this case too, the pre-sale estimate (2.4–2.8 million) was spot on. The 1957 Mercedes-Benz 300 SL Roadster, the first imported into the USA and one of the very early production units, sold for USD 1,512,500 after an estimate of USD 1.4–1.7 million, and became the event’s third most expensive car.
The 1930 Bentley Speed Six “Le Mans Replica” Tourer in Vanden Plas style, one of the 182 chassis built with the Speed Six specification, achieved an excellent result. This matching numbers car, re-bodied in the 1980s, far exceeded its pre-sale estimate of USD 0.75–1 million, fetching a final price of USD 1,457,500 and taking fifth spot in the Top Ten. The 1963 Alfa Romeo 2600 Spider Touring with only three owners from new, not perfect but solid, sold for USD 125,000 after an estimate of USD 125–145 K, while the 1968 Lamborghini Islero 400 GT (estimated value USD 350–400 K) did not sell.
The Top Ten at the Bonhams 2018 Arizona sale
- USD 5,170,000. 1958 Porsche 550A Spyder, covered in our preview. This is a world record price for the model.
- USD 2,640,000. 1972 Ferrari 365 GTS/4 Daytona Spyder, covered in our preview.
- USD 1,512,500. 1957 Mercedes-Benz 300 SL Roadster, covered in our preview.
- USD 1,512,500. 1991 Ferrari F40 (chassis #ZFFMN34A8M0088374) with less than 2500 miles from new, US version, Ferrari Classiche certified. This car had a pre-sale estimated value of USD 1.4–1.7 million.
- USD 1,457,500. 1930 Bentley Speed Six “Le Mans Replica” Tourer in Vanden Plas style, covered in our preview. It fetched almost twice its lower estimate.
- USD 1,292,500. 2015 Porsche 918 Spyder (chassis WPOCA2A19FS800290), one owner and 2,278 miles from new. One of the 294 built to US specification, this car was assigned a pre-sale estimate of USD 1.2–1.6 million.
- USD 1,155,000. 1995 Ferrari F50 (chassis #ZFFTG46A4S0104799), the last built of the 55 with US specification, and one of the only two to be painted black. Ferrari Classiche certified, it had been valued at USD 1.5–1.8 million.
- USD 489,500. 2006 Ford GT (chassis #1FAFP90S16Y401553), Carroll Shelby’s personal Ford GT, with fewer than 645 miles on the clock and one owner from new. Offered without reserve, it sold at well above its pre-sale estimate of USD 300–350 K.
- USD 484,000.1974 Ferrari Dino 246 GTS (chassis #08474) with less than 27,800 miles from new. This highly original, Ferrari Classiche certified car, still wearing its first Giallo Fly paint and with untouched Beige interiors, had been assigned a pre-sale estimate of USD 450–550 K.
- USD 478,500. 2016 Porsche 911 R (chassis #WPOAF2A91GS187307). This special-order paint-to-sample car, with one owner from new, 38 miles covered and a manual gearbox, fetched a final price in line with its USD 400–500 K estimate.
Some of the other cars
Two of Carroll Shelby’s personal cars were offered, both without reserve, and they attracted intense global interest, both before and during the auction, with the result that both came under the hammer at well above their estimated value: one was the 2006 Ford GT that ended up as the eighth most expensive car of the sale, and the other a 1966 Ford Shelby GT 350H Fastback (chassis #SFM6S707), a desirable Hertz “rent a racer” version, one of the very few painted in white with a blue rather than black with gold stripe, on display at Shelby Automobiles since 2008. This car did very well, selling for USD 253 K after an estimate of USD 150–200 K.
Confirming the rising price trend for the more recent Lancia rally cars, a 1982 Lancia Rally 037 Stradale (chassis #ZLA151AR00000106), road version, restored by the Baldi Brothers in Turin and offered ready to be driven, sold for USD 451 K, just above its estimated value range (USD 350–450). This is a strong result for a model that until a couple of years ago was valued at around USD 100 K.
An interesting 1962 Ferrari 330 GT 2+2 (chassis #4085), offered without reserve, sold for USD 224,400 after an estimate of USD 225–275 K. It was built in August 1962, the second of the two prototypes of the model, and spent the first two years of its life with the company. Believed to be have been used by Enzo Ferrari as his personal car, it certainly served as the “model” for promotional pictures and sales brochures. Being a prototype, it differs in numerous details from the standard production cars. Sold as used in the USA, through Chinetti, it had a series of owners before being restored in 2009. It lost its original engine in the 1970s, but is repainted in the correct original color (Ivory), on Black interior. This is surely one of the most usable classic V-12 Ferraris.
For more information and results, please visit the website of Bonhams 2018 Arizona auction.
All photos courtesy of Bonhams.