Artcurial Tops Retromobile for Second Year in a Row


Artcurial_Main image
Images: © Artcurial Motorcars 2016

The European auction season began in style at Retromobile in Paris last weekend. Three big auctions took place hosted by Bonhams, RM Sotheby’s and Artcurial. French auction house Artcurial stole the show for the second year in succession with their sale on the Friday. Barely fifteen years old, Artcurial is still relatively new but as demonstrated in 2015 with the fantastic Bailllon Collection, Artcurial Motorcars can deliver some stunning cars.

Remarkably the real headline is that Artcurial Motorcars posted $62.6 million in sales, a 21% increase over 2015 and once again means Artcurial are responsible for the largest ever sale of collectors’ cars in continental Europe. Matthieu Lamoure, Managing Director of Artcurial Motorcars commented “We are incredibly proud of the results of this historic sale in France, home to the automobile”

Impressively 80% of lots were sold, 13 new world auction records were broken and the star of the show a stunning 1957 Ferrari 335 Sport Scaglietti sold for $35.7million a new world record for a motorcar at auction based on current exchange rates*.

1954 Facel Vega 54 Prototype

The auction was split into two parts, automobiles and a special Citroën sale later in the day. Part one saw seven new world auction records, including the highest price for a Facel, the 1954 Vega 54 Prototype V sold for $558,644. The Artcurial Motorcars Department also sold a good selection of cars above $1M, such as the stunning 1986 Ferrari Testarossa Spider Valeo, ex Gianni Agnelli that made $1,350,411 and a 1963 Aston Martin DB4 convertible Series 5 that sold for $1,644,017.

Artcurial Motorcars Top Ten

1957-Ferrari-335-S

1957 Ferrari 335 S Scaglietti, from the Pierre Bardinon Collection
$37,794,319 International collector

1963 Aston Martin DB4 Convertible Series 5
$1,644,018 European collector

1986 Ferrari Testarossa Spider Valeo, ayant appartenue à Gianni Agnelli?$1,350,411 European collector

1903 Moonbeam III Dit “Moonbeam of Fife”
$1,235,468 European collector

1972 Ferrari 365 GTB/4 Daytona
$1,064,170 European collector

1995 Bugatti EB110 SS “Sport Competizione – Le Mans”
$1,050,890 European collector

1995 Bugatti EB110 Super Sport
$1,037,610 European collector

1931/2012 Bucciali – Cord Type L29 modifié
$665,106 European collector

1960-Maserati-3500-GT-Vignale-Spider-Capot-Long

1960 Maserati 3500 GT Vignale Spyder “Capot Long”
$611,875 European collector

1968 Ferrari 330 GTC
$598,596 European collector

Thirteen Auction World Records

World auction record for a motor car*?1957 Ferrari 335 Sport Scaglietti, chassis n°0674 from the Pierre Bardinon Collection, sold for $35.7M including premium

1986-Ferrari-Testarossa-Spider-Valeo

World auction record for this model?1986 Ferrari Testarossa Spider, ex Gianni Agnelli, sold for $1.4M including premium

1995-Bugatti-EB110-SS-Sport-Competizione-Le-Mans

World auction record for this model?1995 Bugatti EB110 SS “Sport Competizione – Le Mans” sold for $1M including premium 1995 Bugatti EB110 Super Sport sold for $1M including premium

World auction record for a Facel Vega?1954 Vega 54 Prototype ”V” par Facel, sold for $558,645 including premium

World auction record for this model?1965 Alfa Romeo Giulia Sprint GTA, sold for $492,134 including premium

World auction record for this model?1953 Renault Frégate Ondine Cabriolet par Ghia, sold for $86,486 including premium

World auction record for this model?1971 BMW 2002 cabriolet, sold for $69,189 including premium

World auction record for this model?1961 Citroën 2 CV Sahara, sold for $192,836 including premium

World auction record for this model?1939 Citroën Traction 11 B cabriolet, sold for $186,252 including premium

World auction record for this model?1968 Citroën ID 21 F Break sold for $79,790 including premium

World auction record for this model?1980 Citroën Méhari 4×4, sold for $55,909 including premium

World auction record for this model?1932 Citroën C4 G torpédo, sold for $46,535 including premium

World auction record for this model?Ca. 1925 Citroën B12 limousine “woody”, sold for $30,577 including premium

* World auction record for a collectors’ car in euros and sterling. Previous record: 28,5 M€ / $38M, in 2014, in the United States

About the Author:  Tim Hutton has been involved in the automotive industry for 17 years, creating ideas and content for premium brands. When not writing about cars, you will find him driving them all around the world. Having learned to drive at seven in a racing car, petrol is very much in his veins.


The Impact of the Private Collector on the US Art Storage Market


Art storage facilities

The idea of storing paintings or sculpture seems alien to most of us. Those of us from typical backgrounds, buy art to hang on our walls as we enjoy looking at it, or even on a more functional level, to fill empty space. Perhaps you own one or two special pieces of art, bought, inherited, or acquired from a dear friend, which have more value, sentimental or monetary, than the others. Surely you would want to keep these closest to you, rather than locking them away, and only seeing them a couple of times a year?

Yet, as the fine art market continues to post commendable results, more and more art is going into storage.  In 2015, sales of art and collectibles at Christie’s totaled $7.4 billion, down 5% from 2014 but still the company’s second highest total.  Sotheby’s auction sales for the same period are flat at $6.7 billion after an 18 percent increase in 2014.

While art galleries and dealers still buy a significant part of this market, more and more is bought by private individuals.  Collectors such as Charles Saatchi, who has exhibited his collection in London on and off since 1985 and Roman Abramovic the owner of Chelsea football club, have chosen to open Public galleries to showcase their collections. 

Clearly this is beyond the means of most collectors, so they turn to private art storage to store their works.  For comparatively small fee, these companies will store your collection in highly secure and environmentally controlled conditions. The standards of these facilities are sufficiently high for major museums to store their works their works there.  The rise in private clients using art storage facilities has led to many developing custom built client storage facilities, where you can view your work in a discrete room, similar to those offered by bank vaults.

Even with the most accommodating company, access to your art requires advance booking, and is nothing like having it in your home or business, so why buy works of art you can’t display? Some collectors have simply been bitten by the collecting bug and enjoy having an extensive collection.  Others, see art as a fantastic investment, as with the interest rates at such a low level, art can often outperform other investments. Owning art also has a rare kudos attached to it, it transcends other luxury goods, deferring on the owner the appearance of wealth, knowledge and good taste.

Though, we will never know the exact motivation of the private collector, what we can be sure of, is that with the art market continuing to grow, there will be no shortage of new private buyers in the market, and no shortage of art storage facilities willing to accommodate them.

About the Author:  Huw is an experienced art storage and shipping professional with an art history background.

Related Posts:

Evaluating the current art market

How to ship assets with care

Luxury Assets are key for your portfolio management


Inside Watchmaking: New Age Materials in Watches – Fad or Future


It is the intention of watch designers all of the world to create timepieces that arrest attention. There are, of course, many ways in which this can be achieved. Some brands lean on a unique, or, at the very least, identifiable aesthetic to set their wares apart, while others engage in a race for revolution in areas of form or function. One such area that receives a lot of deserved attention, is that of new materials.

Materials in watch making

 

The utilization of new materials in watchmaking is a prickly issue. When I first started my apprenticeship I was convinced that silicon was the future of watchmaking, but it seems my conviction was woefully naïve. It has been almost fifteen years since Ulysse Nardin débuted the Freak, which has been heralded as the first true foray into using silicium in a luxury watch. But why has silicon not spread through the movement as many assumed it might?

Extremely expensive watches are valuable because of their hand-crafted components and the time they take to make. Aficionados of luxury watchmaking seem to care more about the man at the bench, his files, his broken fingernails, the sweat on his brow. The thought of luxury being grown in a laboratory doesn’t marry with the foundations of the craft. Silicon can’t be effectively refinished and must be used as machined, which limits its aesthetic appeal. Furthermore, although accuracy gains can be made by employing new materials within the caliber, it quickly becomes apparent that an all-consuming quest for accuracy above all else will lead us right back to quartz watches and the potential demise of our industry.

Material Advancements Can Add Character, not Class

Watch Materials Adds Character

 

There is far more scope for new materials being utilized in an attractive and novel way on the Iexterior, and many of the more avant-garde brands have latched onto this idea with gusto. Hublot’s Magic Gold is one of the most fascinating materials I have encountered, and I am intoxicated by Morta, the material used in the construction of Schofield’s Blacklamp model. Richard Mille has also experimented with sapphire cases, bringing an opulent and bejeweled appearance to his wares.

In addition to new case materials, the dial has also become fair game for experimentation. My favourite example of this is the use of meteorite as a dial material, as seen on Parmigiani’s Tonda 1950 Titanium Abyss Meteorite Special Edition.

Parmigiani's Tonda 1950 Titanium Abyss Meteorite Special Edition

 

How these materials will hold their value over time is debatable, but it seems far more likely that their presence on the exterior will have a lesser effect on their investment potential further down the line. Luxury watchmaking, whatever its future, will always have its eyes firmly trained on the past. And that’s the way it’s got to stay.

About the Author: Rob Nudds is a watchmaker and freelance writer based in the UK. 

Related Posts:

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The Million Dollar Rolex Watch

 


RM Sotheby’s Achieves $62.8 million in Arizona Classic


The 17th annual Arizona Biltmore sale in Phoenix was January 28-29. RM Sotheby’s kicked off the 2016 auction season in fine style with $62.8 million in total sales and an impressive 85 percent of all lots sold. Pre-event buzz was around the headlining 1937 Mercedes-Benz 540 K Special Roadster which on the day achieved $9.9 million making it the most valuable motor car ever sold in Arizona Auction Week history.

In all, 17 lots achieved more than $1 million results, setting various new benchmarks for models along the way. It was also notable that bids were attracted from 20 countries around the world for the two-day sale of 149 cars.

1937 Mercedes-Benz 540 K Special Roadster

The undisputed star of the event was a 1937 Mercedes-Benz 540 K Special Roadster, chassis no. 130894, which crossed the stage during Friday’s sale.  An original U.S. car with well documented history from new, the highly desirable “high door”, “longtail”, factory left-hand-drive Special Roadster was offered fresh to the market, following 26 years in single ownership.

As expected, bidding opened at $5 million before rapidly climbing to a record breaking $9,900,000. This gorgeous car broke the previous Arizona sale record also set by RM Sotheby’s in 2015. The Special Roadster is now ranked as one of the most valuable pre-war automobiles ever sold at auction.

1929 Duesenberg Model J Disappearing Top Torpedo Convertible Coupe

RM’s 2016 Arizona catalogue was impressively diverse and included a 1929 Duesenberg Model J Disappearing Top Torpedo Convertible Coupe, one of just six original examples built, which sold for $3,000,000 and a 1989 Mercedes-Benz 560 SEC 6.0 AMG ‘Wide Body’ presented in excellent original condition, sold just beyond its upper-estimate at $154,000.

Below are the top ten sales from Arizona.

1.       Lot 242 – 1937 Mercedes-Benz 540 K Special Roadster (Chassis 130894) $9,900,000

2.       Lot 133 – 1929 Duesenberg Model J Disappearing Top Torpedo Convertible Coupe (Chassis 2199) $3,000,000

3.       Lot 140 – 1965 Shelby 427 Competition Cobra (Chassis CSX 3010) $2,255,000

4.       Lot 145 – 1965 Ferrari 275 GTB (Chassis 07053) $2,117,500

5.       Lot 132 – 1971 Lamborghini Miura P400 SV (Chassis 4912) $2,000,000

6.       Lot 232 – 1965 Ferrari 275 GTS (Chassis 07935) $1,760,000

7.       Lot 149 – 1960 Ferrari 250 GT Cabriolet Series II (Chassis 2153 GT) $1,650,000

8.       Lot 148 – 2015 Porsche 918 Spyder (Chassis WP0CA2A13FS800804) $1,595,000

9.       Lot 126 – 1962 Maserati 5000 GT Coupe (Chassis AM103 040) $1,540,000

10.     Lot 254 – 1953 Cadillac Series 62 Coupe (Chassis 536253053) $1,430,000

There’s little time to catch our breathes from Arizona as we move over to Paris, France where RM Sotheby’s, Bonhams and Artcurial will all have sales over the next few days. Borro will be reporting on the Retromobile auctions with previews and reports of the key events.

About the Author: Tim Hutton has been involved in the automotive industry for 17 years, creating ideas and content for premium brands. When not writing about cars, you will find him driving them all around the world. Having learned to drive at seven in a racing car, gasoline is very much in his veins.

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Meet the Borro Team – Joseph Charalambous


Josephy Charalambous

 

Name: Joseph Charalambous
Title: Director of Business Development
Time at Borro: 5 years
Email: joseph.charalambous@borro.com
LinkedIn:  https://www.linkedin.com/in/joecharalambous
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Most embarrassing moment at work?

There may be a few that spring to mind but I’ll leave it up to my colleagues to share those!

If you could live anywhere in the world other than the US where would it be?

London. I like busy cities…

Describe the best night of your life? 

Ideally it would begin with a steak and end with a whisky!

What do you do in your spare time?

Usually I’m either cooking, reading or occasionally painting.

If you could splurge on one item, what would it be?

The ridiculously expensive and mythically rare Girard-Perregaux Vintage 1945 Jackpot Tourbillon.

Favorites

  • TV Show – Mad Men
  • Film – Gladiator
  • Band -  The Rat Pack 

Meet the Borro Team – Chris Hebden


Chris Hebden

Name: Chris Hebden
Title: Director of Business Development
Time at Borro: 4 years
Email: chris.hebden@borro.com
LinkedIn: https://www.linkedin.com/in/chrishebden
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Most embarrassing moment at work?

I hired a singing telegram for one of my Borro colleagues and the performer showed up intoxicated. He gave us more of a show than I intended.

If you could live anywhere in the world other than the US where would it be?

Fiji. I haven’t been but it looks amazing.

Describe the best night of your life? 

Biggest snow day in NYC and myself and several friends walked down the streets in the city and there was literally no one out. Priceless!

Who would your dream dinner date be? 

Shaquille O’Neal. I think he would be one of the most entertaining people to be around.

If you could splurge on one item, what would it be?

A Modigliani work in 2009.

Favorites

  • TV Show – Shark Tank
  • Film – The Wolf of Wall Street
  • Band -  Florida Georgia Line

Related Posts

- Meet the Borro Team – Graydon Orr


Meet the Borro Team – Graydon Orr


Graydon Orr

Name: Graydon Orr

Title: Director of Business Development
Time at Borro: 18 months
Email: Graydon.orr@borro.com
LinkedIn: https://www.linkedin.com/in/graydonorr

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Most embarrassing moment at work?

Walking smack bang into a glass wall with 25 wealth managers awaiting a presentation on the other side.

If you could live anywhere in the world other than the US where would it be?

Lake Como, Italy. There is no more beautiful a place to pretend to be 007 than Lake Como.

Who is your business idol?

Sir Richard Branson. Richard Branson is not just an entrepreneur/investor but he is actively involved in every one of his companies. Branson is a disruptor a maverick and he leads from the front not from behind a desk. But most of all he is not afraid to fail. “You don’t learn to walk by following rules. You learn by doing, and by falling over.”

If you could splurge on one item, what would it be?

All original 952 Ferrari 250 GTO ($38M). It’s the ultimate status symbol for influencers.

Favorites

  • TV Show - Monty Python and the Flying Circus
  • Film – The Big Blue
  • Band -  Pink Floyd