Saturday 19 October 2019

The 15 Most Expensive Cars Sold at Auction

I have always had a fascination with car auctions and the fluctuation in prices over the years. Whenever the opportunity arises, I will watch auctions live be it on YouTube or on the auction house's website. The thought then occurred to me of, what are the most expensive cars ever sold at auction. After lots of research, I have this list of 15. 

15) McLaren F1-LM Specification - RM Sotheby's (2019)

The first entry onto this list comes from earlier this year, in Pebble Beach. RM Sotheby's managed to sell off a McLaren F1, which is a star car in itself. However it was converted to LM specification which is one of the two cars to have this treatment, adding the Extra-High Downforce kit and the unrestricted F1 GTR engine. The car was in the hands of McLaren for a very long time before it was bought, however was returned to McLaren for specialist servicing along with a written evaluation by MSO (McLaren Special Operations) to certify its authenticity. This car sold in the summer for £15,264,000.

14) Alfa Romeo 8C 2900B Lungo Spider by Touring - RM Sotheby's (2016)

This is the Italian equivalent of the Bugatti Atlantic, the Alfa 8C is a pinnacle of Italian beauty then and now. This car was one of 12 known to the world, the first of its kind to come up for auction. This specific example came from a very coveted collection of cars that won it a Concours D'Elegance Best in Show. Finished in a metallic black original paint with its original engine and original bodywork. Although I do not know much about vintage cars, especially ones from 1939, I can appreciate the styling and the legacy that these cars leave, hence I completely agree with the £15,216,000 that the car sold for. 

13 Bugatti Royale Kellner Coupe - Bugatti Museum (1987)

Legend has it that Ettore Bugatti was talking to an English lady who stated that the Rolls Royce Phantom was the ultimate car and considered it to be a superior car to the Bugatti. After this, he created the Royale which was the ultimate epitome of luxury. Bugatti only made 7 of these and they all have their unique stories. This example was not sold by Bugatti as the asking price was equivalent of £560,000 in today's money. This car was bricked away during the war to avoid being commandeered by the Nazis, was sold to American Le Mans racer Briggs Cunningham for $571 plus two refrigerators not available in post war France. The car was then put for auction when the Bugatti Museum closed due to its liquidation. It sold for an amazing £5.5m which in today's money comes to a total of £17,400,000.

12) Aston Martin DP215 - RM Sotheby's (2018)

Known as one of the most important Aston Martins ever made, this one off project built in 1963 was a works car for the 24 Hours of Le Mans. Piloted by Phil Hill and Lucien Bianchi, it is said to have clocked 198.2mph on the famous Mulsanne straight before it retired with a broken transmission. However, the success of this car may have been a little drab with only a few Goodwood Revival race wins, the car itself was the last car that the legendary David Brown signed off and entered personally into a race. This car was fitted with the original engine and correct 5 speed manual transmission. A slight personal bonus of this car is that I have actually seen it at the 70th anniversary of Aston Martin Racing at Goodwood 2019. This car sold for £17,700,000 at the Sotheby's Monterey auction but it does still make racing appearances which is always good.

11) Duesenberg SSJ - Gooding and Co. (2018)

Although, much like the Alfa Romeo, I do not know much about this car, however some of the specs that the car carries makes it 100% worth the price. The Duesenberg was the American Rolls-Royce and in produced in much smaller numbers than its British counterpart. The SSJ presents a case for itself in that it is one of only two produced. Adding to the value of this is the fact that it was originally delivered to Hollywood legend Gary Cooper and another owner of the car was Briggs Cunningham, the same man to own the Bugatti Royale Kellner Coupe from earlier. The car remained in its original condition with original brakes, engine, chassis and body. The car in the end sold for a whopping £18,200,000.

10) Ferrari 290MM by Scaglietti - RM Sotheby's (2018)

This is where the cars start to get really, really interesting. This car is a legendary racing car as it raced as a Scuderia Ferrari works car for the 1956 and 1957 season that led to podiums in the 1000km of Buenos Aires and the legendary Mille Miglia racing event. It won the Nassau racing weekend and the Memorial event with Sir Stirling Moss behind the wheel. Not only has it been driven by some incredibly special drivers, but it is one of 4 examples, 3 left, it is eligible for many, many classic race events such as the Mille Miglia and Concours events. The car was restored to its original 1957 Sebring 24 hours livery and Ferrari Classiche certified. Due to all of these factors, the car sold for £18,200,000, headlining the auction for Sotheby's.

9) Jaguar D-Type - RM Sotheby's (2016)

This 1955 Jaguar D-Type is the most expensive Jaguar ever sold at auction in 2016. This car was raced by Ecurie Ecosse to victory in the 1955 24 Hours of Le Mans, which makes it already a special car. What adds to the value is the fact that it is the only surviving original Jaguar C/D-Type that still holds all of its original components, it had remained in the same private collection for 16 years before the sale and it was the first Jaguar D-Type chassis to be built. Being one of the most important Jaguars in history, and officially the most expensive Jaguar of all time, the price was £18,300,000.

8) Aston Martin DBR1 - RM Sotheby's (2017)

This car beats the Jaguar in one sense, that it is the most expensive British car ever to sell at auction. The DBR1 is one of five DBR1s and this car was the first car to roll out of Aston Martin. Although this did not succeed at the 24 Hours of Le Mans (the sister car won the 1959 Le Mans), it did see some success by winning the 1959 1000km of Nürburgring. The list of drivers to drive this exact car is unbelievable spanning from Sir Stirling Moss to Jack Brabham, Roy Salvatori and Carroll Shelby. The car was maintained by Aston Martin specialists who fitted it with a racing reproduction engine which came alongside the original engine when it was new. Critics have said that this is the most important Aston Martin model of all time, as well as the most expensive British car of all time at £18,600,000.

7) Ferrari 275 GTB/C Speciale by Scaglietti - RM Sotheby's (2014)

Known as the spiritual successor to the legendary Ferrari 250 GTO, the 275 GTB/C is a crucial area of Ferrari's history. It was one of only 3 works Berlinetta Competizione cars, making it a lot rarer than the 250 GTO. It is a known Ferrari car which helps to increase the value of it because it is a documented classic vehicle. It is fitted with its original numbered engine and has a glittering racing and rallying history. It was meticulously researched by a Ferrari specialist who confirmed it was the car that everybody thought it was. Due to this confirmation, the car sold for £20,350,000. This also makes it the first car on this list to break the £20m mark. 

6) Ferrari 275 GTB/4 S N.A.R.T Spider by Scaglietti - RM Sotheby's (2013)

N.A.R.T stands for North American Racing Team and was the key Ferrari racing team in the US up until the 1990s. The 275 NART Spider is an incredibly rare car to bear this name as it is a one of 10 car. It may not be the rarest car on this list by far, however the beauty and class of this car definitely makes up for it. It was sold with the original toolboxes and original documents because this car, miraculously, had one owner from new. The fact that it had single ownership boosts the price significantly. The car was auctioned in 2013 by Sotheby's and again headlined the auction even when it was auctioned alongside a Mercedes 540K, Mercedes 680S and a Ferrari 375MM. The final price.....£21,197,000.

5) Ferrari 290MM by Scaglietti - RM Sotheby's (2015)

A second Ferrari 290MM to see this list, this one sold in New York in 2015. There is one reason that this car sold for more than the other 290MM, that reason is the fact that the car came 4th overall at the 1956 Mille Miglia. Fourth place may be seen as nothing because it didn't win, however it was driven by the one and only Juan Manuel Fangio. For the unknown, Fangio was one of the greatest racing drivers of all time with 5 Formula One world championships and many other race wins in sports cars and rallying. His name alone adds so much value to any car, let alone an already expensive Ferrari 290MM. The car in question has a large racing history and is Ferrari Classiche certified meaning that it is an official piece of Ferrari history. The final value for the car was £21,640,000, which further increases the record value.

4) Mercedes Benz W196 - Bonhams (2013)

From one Fangio car to another, only this car is much more significant than the previous. This Mercedes was the car that Fangio drove in the 1954 Formula One Season and drove to victory in the German and Swiss Grand Prix. The car was also driven by Hans Hermann and Karl Kling and was the sister car to Sir Stirling Moss's Mercedes. This car comes from an incredible family of vintage Mercedes Formula One cars, and this particular car was the only post-war Silver Arrow to be held in private ownership for many years. The car went on to be the generation that won Fangio his second world drivers championship. When it was put for auction at the 2013 Goodwood Festival of Speed, it sold for £25,750,000. 

3) Ferrari 335S Spider Scaglietti - Artcurial (2016)

The only mention of Artcurial in this list comes with the 2016 sale that they sold a very significant Ferrari. This was a works 335S driven at so many racing events such as 1000km of Sebring, 24 Hours of Le Mans and then the 1957 Formula One season. This car took Sir Stirling Moss to victory in the Cuban Grand Prix before it was sold to a leading Ferrari collector in Switzerland, Pierre Bardinon. Bardinon, who died in 2012, had a collection of up to 50 classic Ferrari cars and exercised them on his private racetrack that he built outside his house in Switzerland. It is thought that he had four of the nine 1960s Le Mans winners in his collection. After he died, his family sold off some of his cars and none of them were anticipated more than the 335S, which eventually sold for £27,635,000.

2) Ferrari 250 GTO - Bonhams (2014)

One of the greatest cars ever made, the Ferrari 250 GTO is one of Ferrari's greatest ever cars and has always been a highlight at auctions, especially one with a back catalogue like this car. This is a 1962 car so it retains the classic shape unlike the later cars, and the drivers of this car included Jo Schlesser and Paolo Colombo. It was offered from 49 years of single ownership and had a great success rate of Italian hill-climbs and the famous Tour De France route which gave its name to some other Ferrari models such as the 250tdf and, more recently, the F12tdf. This car came 2nd in the 1962 Tour De France and is a proven historic race winning car. It also features the idea that it has never been restored, just maintained and looked after. The total price for all this specification? £29,562,000. 

1) Ferrari 250 GTO - RM Sotheby's (2018)

And the most expensive car ever to sell at auction is this amazing Ferrari 250 GTO. Sold by RM Sotheby's in 2018, this car is much different to the previous GTO which helps the price significantly. It is one of 36 GTOs made, and is considered to be the most original and well-maintained model of those 36. It was upgraded in period by Scaglietti to the Series 2 body shape which is considered to be a more aggressive styling for the 250 GTO, similar to the later 275 model, and is one of few cars to be offered this treatment. It had over 15 class and individual wins during its racing period of 1962-1965 including victories in the Targa Florio in 1963 and 1964. It has been studied by Ferrari master engineers and the family of the Godfather, Enzo Ferrari himself and confirmed to be the car everyone wanted it to be. This along with a matching engine number helped this car to be the most expensive sold at auction. The final price was £37,310,000, a record unlikely to be beaten soon. However with more and more classics popping up seemingly everywhere, who knows how long this record will stay for?



Thursday 10 October 2019

Auction Round-Ups October 2019

Although I have not done 'Weekly Car News' for a while, I have been keeping up with the news and have decided that there are too many places that do this already, that I cannot make this unique. Therefore I am doing an auction round-up every month to see what cars are being auctioned when. This will be monthly due to the frequency of car auctions and I will be presenting it one auction house at a time. 

                                                                     RM Sotheby's                                                                                                                                                                                                           
This month, RM Sotheby's will be holding two auctions that are both highlights on their calendar. The first of which is the Hershey sale, held on the 10th-11th of October in the US, which focuses on vintage American classics from 1900 to 1970. Although I do not know a great deal about this niche in cars, I do appreciate some of the cars they are selling such as the 1936 Cadillac V16 Phaeton which starred in the 1964 film 'The Carpetbaggers' and is recognised as being one of the sole surviving V16s. The estimate price of $750k-$1.2m seems fair although as I've said, I do not have much knowledge of these cars so I'd love to talk about the lots more but I do not have a clue. The second Sotheby's auction this month is the famous London auction which is definitely more up my street. This auction mainly features classic racing cars as well as some modern classics and modern hypercars. Rather than going through every car in detail, I shall pick some personal highlights starting with a 2018 Porsche 911 GT3. This may be seen as just a regular Porsche, however with gold wheels, a manual gearbox, the Clubsport package and PTS Sepia Brown finishes allow for the £150k estimate to seem like a drop in the ocean. The first significant car to be auctioned will be the 1994 Ferrari 412 T2 Formula One car. This car has been driven by Tifosi legends Jean Alesi, who took this car to 3rd at the 1994 Brazilian GP, and Gerhard Berger, who took it to 2nd at the Italian GP. This was the first car to be designed by F1 legend Jean Todt and featured the roaring V12 that F1 cars in the 90s possessed. Although this car was not necessarily the most successful Ferrari F1 car, netting only 73 points between the two drivers, it has been in the ownership of Ferrari from production until 2003 when it was sold to a private owner. The estimate of £1.4m-£1.8m seems very fair and someone will be leaving the auction with a piece of Ferrari history. A few vehicles are being sold from the Youngtimer Collection which is a 100+ car collection to be entirely sold by RM Sotheby's in 2019. The feature cars of this auction are the 2014 Mercedes SLS AMG GT Final Edition with an estimate of £275k-£325k, a Lamborghini LM002 with an estimate of £180k-£230k, a Lamborghini Diablo VT for £150k-£175k and a Mercedes SL 73 AMG for £200k-£240k and which features the engine used in a Pagani Zonda. A few other high end cars selling includes a Maserati MC12 GT1 and a Porsche 962C from the Autobau collection, a barn find Lamborghini Miura P400S, a Ferrari Enzo, a Jaguar XJR-11, a Lancia Delta S4 Rallye, an Aston Martin Vanquish Zagato Ville D'Este and finally the prettiest car in the auction, the Maserati 3500 GT Spider. Overall these two auctions should give a lot of car collectors new horses for the stable.                                                                                                                                                                                                                                                                                                                                                   Rand Luxury

Now for an auction house I'd never heard of in the form of Rand Luxury in the US. Upon first glance they are just selling Ferrari F355s and Porsche 911s, but when filtering by price, we see there is a lot more than first thought. They are selling 5 of the world's most exclusive hypercars, 3 gorgeous classics and a few stunning supercars. The highlight of the sale is a Lamborghini Centenario LP770-4 which is superbly rare. One of 20 in the world, one of 6 in the US and one of 2 in exposed carbon fibre, this is one rare car. Finished in exposed carbon and red accents, this is one of the first Centenarios to come up for auction so the $3m-$3.3m estimate is justified. They also have a black Porsche 918 Spyder and a black Bugatti Veyron for just over $1.5m each which is justified as well as a white Ferrari F12tdf with a tricolore stripe estimated at $1m-$1.35m. The star for me though is the 2006 Koenigsegg CCX which is one of 49 cars, finished in silver over blue interior which will definitely sell for over its estimate of max $1.6m. A few more highlights include an Alfa Romeo 8C Competizione, Ferrari 458 SA, De Tomaso Pantera GT5-S, Ferrari 575M SuperAmerica and a Porsche 911 Carrera 2.7 RS. This auction is to take place on the 12th and should be an interesting watch.                                                                                                            

                                                                           Bonhams

Bonhams have had a tough time recently, especially comparing their Pebble Beach auction to Gooding and Sotheby's, however their Zoute sale in Belgium looks to be a good one. The star of the show is a Ferrari 275 GTB Short Nose which has not been given an estimate but I predict it will be upwards of £2.4m. They are also selling a 250 GT Cabriolet S2 for a max estimate of £1.6m and a Ferrari Enzo for upwards of £1.5m. Besides these it seems to be a regular standard auction however I will draw attention to the Bonmont Sale which was legendary. Although the sale took place in the last week of September, I cannot help but mention it. In 2014, 20+ cars were seized from the president of Equatorial Guinea who was corrupt. These cars were kept in police lockups for 5 years until they decided to auction them all. Some of these cars did sell for a smaller price than expected such as the 1991 Ferrari Testarossa which can sell for up to £160k but only sold for a very cheap £69k. Moving up into the £150k range, we begin to see some of the President's cars such as a Ferrari 599 GTB Fiorano and a Rolls Royce Phantom Drophead. Moving further up the prices, there is a Brabus 900 which is a 900hp Mercedes Benz S65 AMG which sold for £230k which I believe to be cheap. As prices increase and increase, we pass the matte black Lamborghini Murcielago SV, Lamborghini 400GT and the two Ferrari 250 GTs and get to the real stars of the auction. For £862k sold was a Giallo Modena Ferrari F12tdf and for £996k was the black Ferrari 599 SA Aperta which is the convertible version of the Ferrari 599 GTO, and much, much rarer. Next up are two cars that would be found in the alleyways of Bond Street. The Aston Martin Lagonda Taraf was originally created for customers in Saudi Arabia but some have made their way to Europe and clearly, Africa. The second is a Maybach Mercedes G650 Laudalet which is a strange car. It's a Mercedes G Wagon 4x4 that has been taken by Maybach and made into a convertible. Both of these cars unfortunately did not sell at the auction but sold afterwards for 'upwards of £1.2m each'. Now we have the hypercars, a McLaren P1 sold for £1.26m, a Bugatti Veyron 16.4 sold for £1.31m, a one of 77 Aston Martin One-77 sold for £1.52m, a one of one Porsche 918 sold for £1.55m, a one of 20 Lamborghini Reventon Roadster sold for £1.95m, a Ferrari LaFerrari sold for £2.1m and a Ferrari Enzo to match the LaFerrari sold for £3.1m. All these cars are good but still the two best cars have not been mentioned. A Koenigsegg One:1 sold at this auction, a one of 7 car that has a one to one power to weight ratio hence the name. Koenigsegg contacted Bonhams about this auction as the original estimate was only £1.2m-£1.5m. The estimate was raised before the auction but that did not make a difference as the One:1 sold for £4.6m which was twice the second estimate. The star of the show however was a Lamborghini Veneno Roadster. Finished in a cream over cream option which is not entirely delightful, only 9 of these cars were built to celebrate Lamborghini's 50th anniversary. The original price of the Veneno was £3m and this is the first time one has ever come up for auction, therefore it was a superb opportunity for collectors. One lucky owner got their hands on it for an insane £8.28m.