Media Release


RM SOTHEBY’S STUNS THE MARKET WITH INCREDIBLE, RECORD-BREAKING €51 MILLION ‘NO RESERVE’ SALE IN MILAN

Duemila Ruote

  • RM Sotheby’s captures the attention of the global collector community with record-breaking Duemila Ruote sale in Milan
  • Largest private automotive collection ever sold in Europe, three-day auction smashes expectations, generating an outstanding €51.26 million and attracting extraordinary crowds
  • Motor car sales led by a 1966 Ferrari 275 GTB/6C Alloy for €3.416.000; 2004 Maserati MC12 storms into the record books at €3.024.000
  • Strong results also achieved across the board, with the vast majority of lots far exceeding estimates
  • A remarkable logistics feat, global RM team pulls off event in just 10 weeks, including cataloging, photography and transport of 800+ lots from Venice to Milan
  • Complete results from Duemila Ruote now available online at  www.rmsothebys.com
  • From Milan to Florida, RM Sotheby’s joins forces with Ferrari this weekend to conduct exclusive charity auction of 500th LaFerrari 

DUEMILA RUOTE BY THE NUMBERS

More than 5,000 auction attendees
Record 3,000+ bidders from 57 countries
30 hours of auction action
817 lots sold

€51.26 million in total sales

 

MILAN (28 November, 2016) – In what can only be described as ‘record-breaking’, RM Sotheby’s captured the attention of the global collector community this weekend with incredible results at its Duemila Ruote sale in Milan. Coinciding with the Milano AutoClassica—the Classic & Sports Car Show—the RM Sotheby’s event represented the largest automotive-themed collection sale ever held in Europe. During approximately 30 hours of auctioneering, 817 lots—comprising an astounding selection of motor cars, motorcycles, bicycles, boats and automobilia, all from one single private collection— were sold before a packed house at the Fiera Milano, totalling an incredible €51.263.270* (USD $54.85 million) in sales.

 

Augustin Sabatié-Garat, Car Specialist, RM Sotheby’s comments: “It feels like we achieved the impossible here in Milan this week. The logistical challenges involved with putting on this sale are mind-boggling, but we have risen to the challenge and achieved results that nobody could have anticipated. The auction venue alongside the Milano AutoClassica was busier than we have ever seen in a sale room.”

 

For auto enthusiasts, the collection’s 423 motor cars, many of which were seen on the open market for the first time in decades, presented a thrilling range of ownership opportunities at every level, driving countless bidding contests over the course of the three-day auction. In a field dominated by rare Italian machinery, top sales honours went to the 1966 Ferrari 275 GTB/6C Alloy; the first of just seven long-nose, six-carburettor, alloy body, torque tube 275 GTBs, its rarity, provenance and freshness to the market propelled it to an impressive €3.416.000. Another star of the show, the 2004 Maserati MC12, sporting less than 6,000kms, stormed into the record books at a remarkable €3.024.000, smashing the previous auction record by a considerable margin.

 

Although there are too many highlights to list individually, other notable sales included the Lancia-built, Ferrari-engined 1991 Lancia-Ferrari LC2 Group C for a staggering 851.200; a 1994 Bugatti EB110 GT for an above-estimate 616.000; a rare manual 2007 Ferrari 599 GTB Fiorano also eclipsed its estimate at 537.600; and a ‘project’ 1952 Aston Martin DB2 DHC achieved an incredible 504.000. Worth noting, strong results were not restricted to just the top-tier vehicles, rather witnessed across all price points. As a category, rally cars of the ’80s / ’90s proved particularly hot, as reflected in outstanding prices for the 1992 Lancia Delta HF Integrale Group A ‘Jolly Club’ at €336.000 (against a pre-sale estimate of 160–180.000) and the 1989 Lancia Delta HF Integrale 16V ‘Ufficiale’ at a final €246.400. Then there was the group of almost 60 Porsche 911 variants, highlighted by a 1996 Porsche 993 GT2, which massively exceeded estimate at €616.000, not to forget 21 Jaguar E-Types, led by a 1963 Jaguar E-Type S1 3.8 OTS, which garnered €173.600 against a pre-sale estimate of €65-€75.000.

 

Beyond the automobiles, phenomenal interest was also recorded for other categories included in the sale. A 2008 Ducati Desmosedici led the group of 155 motorcycles at 70.200; the 1984 CUV Lamborghini #1 Offshore Class 1 ‘Miura’, powered by two giant Lamborghini V-12s, dominated the fleet of 55 boats at a massive €117.000; and a Vintage Fire Service Bicycle spearheaded the docket of 140 bicycles at 10.530. The perfect holiday gift for the young enthusiast, even the Jaguar D-Type Children’s Car ignited spirited bidding, selling for €30.420.

 

 RM Sotheby’s Duemila Ruote Top 10 sales:

  1. Lot 602: 1966 Ferrari 275 GTB/6C Alloy                                       €3.416.000
  2. Lot: 601 2004 Maserati MC12                                                       €3.024.000
  3. Lot 877: 1992 Ferrari F40                                                             €1.030.400
  4. Lot 875: 1988 Porsche 959 'Komfort'                                            €1.008.000
  5. Lot 876: 1969 Ferrari 365 GTB/4 Daytona Berlinetta 'Plexi'         €873.600
  6. Lot 599: 1991 Lancia-Ferrari LC2 Group C                                   €851.200
  7. Lot 600: 2005 Porsche Carrera GT                                               €761.600
  8. Lot 572: 1969 Ferrari 365 GTC                                                     €739.200
  9. Lot 588: 1994 Bugatti EB110 GT                                                   €616.000
  10. Lot 896: 1996 Porsche 993 GT2                                                    €616.000

 

The event was an unprecedented sale on all levels. From the moment preview opened on Thursday, thousands of enthusiasts,  including bidders from 57 countries, flocked to the Fiera Milano to preview lots. With standing-room-only across all three sale sessions,  83 per cent of bidders represented first-time clients to RM, with strong interest registered from collectors in the emerging markets of Russia, Brazil, Turkey, the Middle East and Asia. With many high performance ‘modern classics’ on offer, many younger generation collectors participated, with approximately 50 per cent of participants under the age of 50.

 

From a logistical standpoint, the sale reaffirmed RM’s unmatched capabilities as the market leader for private automobile collection sales. The event was pulled off by RM’s global team in just 10 weeks from the time the company was awarded the business through to this past weekend’s event. During this time, a team of nine people from four countries spent 21 days cataloguing and photographing the collection; thousands of catalogues were distributed; and significantly, the massive collection, which had previously filled 11 warehouses in Northern Italy, was transported from Venice to Milan by approximately 100 transport trucks. The collection was then displayed in over 200,000 square feet at the Fiera Milano - the equivalent of four football fields.

 

Augustin Sabatié-Garat, continues: “During approximately 30 hours of frantic bidding, we fielded five individual auctioneers working in shifts to deal with the stream of bidding that was generated within the room, on the phones and on the internet. Proving how attractive a ‘no reserve’ auction can be, we had more than 1000 internet bidders, while some lots required over 20 active telephone lines. This sale has proved beyond doubt that the classic car market continues be very strong with continued interest from all sectors of the market.” 

 

Full results from RM Sotheby’s Duemila Ruote sale are available at www.rmsothebys.com.

 

Building on the momentum from this weekend’s sale, RM Sotheby’s heads to Daytona Beach, Florida this weekend (3 December) for the charity auction of the 500th LaFerrari. Joining forces with Ferrari, with whom RM has worked closely in the past, the exclusive charity sale will lift the gavel on the very last LaFerrari coupé that will come out of the Maranello factory. The car was created especially by Ferrari to benefit the reconstruction of Central Italy in the aftermath of the devastating earthquakes of 2016. RM Sotheby’s is proud to provide its auction services for this very special auction, held during the Ferrari Finali Mondiali weekend at Daytona Beach, Florida.

 

*Results are listed in Euros and inclusive of 12 percent buyer’s premium for automobiles and 17 percent for all other lots. Exchange rate used: €1 = 0.86 GBP, $1.07 USD

Alexander Weaver

aweaver@rmsothebys.com

+1 864 313 6844
California, United States

Alexander Weaver joined RM Sotheby’s in 2011 as a Car Specialist after graduating from Furman University in South Carolina. Born... read more

Augustin Sabatié-Garat

asabatie-garat@rmsothebys.com

+44 (0) 74 1511 4179
United Kingdom

Augustin Sabatié-Garat joined RM Europe in 2012 as a Car Specialist after more than a decade in the collector car hobby. Gradua... read more

Barney Ruprecht

bruprecht@rmsothebys.com

+1 203 912 7168
Ontario, Canada

Barney’s interest in classic cars began at an early age after being introduced to his father’s all-original 1965 Porsche 911. Barney l... read more

David Swig

dswig@rmsothebys.com

+1 415 302 2247
California, United States

David Swig joined RM Sotheby’s West Coast division as a Car Specialist in May 2015. David is a life-long automobile enthusi... read more

Don Rose

drose@rmsothebys.com

+1 617 513 0388
United States

Don joined RM in 2006 after several years of professionally trading sports and classic cars, and after earning a reputation as a noted... read more

Donnie Gould

dgould@rmsothebys.com

+1 954 566 2209
Florida, United States

Donnie Gould joined the RM team in 2002 as a partner and Car Specialist after more than two decades in the vintage automobile auction ... read more

Gord Duff

gduff@rmsothebys.com

+1 519 352 4575
Ontario, Canada

Gord Duff began his journey with RM Sotheby’s in 1998. Since then, he has gained an intimate knowledge of a variety of marques a... read more

Jake Auerbach

jauerbach@rmsothebys.com

+1 310 559 4575
California, United States

Jake Auerbach got his start in the automotive industry at an early age, spending his summers during high school working at a classic c... read more

Kurt Forry

kforry@rmsothebys.com

+1 717 623 1638
California, United States

Having worked for Bonhams’ Automobilia department for over 10 years, Kurt Forry joined RM Sotheby’s with more than a decad... read more

Matt Malamut

mmalamut@rmsothebys.com

+1 805 231 6410
California, United States

A long-time car enthusiast and Southern California native, Matt studied Automotive Technology at San Diego Miramar College and complet... read more

Michael Squire

msquire@rmsothebys.com

+44 (0) 20 7851 7070
United Kingdom

Michael Squire joined RM Sotheby’s European Division in the summer of 2016. He comes to RM with a prestigious racing background ... read more

Mike Fairbairn

mfairbairn@rmsothebys.com

+1 519 352 4575
Ontario, Canada

As one of the three founding partners of RM Sotheby’s, Mike has a long-standing interest in the classic car industry. Graduating... read more

Oliver Camelin

ocamelin@rmsothebys.com

+44 (0) 75 0110 7447
United Kingdom

With an extensive background in exotic sports car history and sales, a particular passion for American curves, and fluency in three la... read more

Paul Darvill

pdarvill@rmsothebys.com

+44 (0) 20 7851 7070
United Kingdom

Paul Darvill joined the RM Sotheby’s European team at the beginning of 2015. Paul holds a degree in French and Politics from the... read more

Pete Fisher

pfisher@rmsothebys.com

+1 519 784 9300
Ontario, Canada

Pete Fisher was first introduced to antique cars in high school, working for Classic Coachworks in his hometown of Blenheim, Ontario. ... read more

Shelby Myers

smyers@rmsothebys.com

+1 310 559 4575
California, United States

Shelby Myers grew up with the classic car industry infused into every aspect of his life. He had the unique opportunity to watch the R... read more

Tonnie Van der Velden

tvandervelden@rmsothebys.com

+31 653 84 19 60
United Kingdom

Tonnie Van der Velden joined RM Sotheby’s European division in September 2015 as a Car Specialist. A lifelong enthusiast, Tonnie... read more