Porsche Madness at RM Sotheby’s 10th Anniversary Sale

Tim Scott ©2016 Courtesy of RM Sotheby's
Tim Scott ©2016 Courtesy of RM Sotheby’s

RM Sotheby’s London sale smashed numerous world-record auction values at its 10th anniversary sale. A very pretty 1960 Aston Martin DB4GT proved to be the night’s biggest seller with a total price of £2,408,000 including premium. One of just 45 right-hand-drive cars built and offered in fine, matching-numbers condition, the DB4 GT set a world-record sum for a factory-bodied model at auction.

Remi Dargegen ©2016 Courtesy of RM Sotheby's
Remi Dargegen ©2016 Courtesy of RM Sotheby’s

But the real talking point of the night were the frankly crazy prices achieved for some of the Porsches offered. The single owner Porsche Collection had generated enormous interest as soon as it was announced in the run up to the sale. Thanks to its incredible single-owner provenance and the low mileage of the cars on offer, prices were expected to be high, but nobody could have predicted just how high. Collectively, the group generated a remarkable £4,726,400, far exceeding pre-sale estimates to set numerous new auction benchmarks.

Highlights included:

1995 Porsche 911 GT2 –  £1,848,000, a record for a Porsche 911 GT2 at public auction, breaking the previous record by over one million pounds

1993 Porsche 911 Turbo S Lightweight – £974,400, a world record for a 964 series Porsche 911 at auction

1993 Porsche 911 Carrera RS – £716,800, a new auction benchmark for the model—a price close to half a million pounds more than the previous record

1995 Porsche 911 Carrera RS Clubsport – £403,200, an auction record for the model

 

Tim Scott ©2016 Courtesy of RM Sotheby's
Tim Scott ©2016 Courtesy of RM Sotheby’s

Away from the immaculate metal on offer in London, the rather less shiny 1967 Iso Grifo GL Series I, which was offered in true ‘barn find’ condition, was another notable highlight of the evening. With the market still drawn to the idea of purchasing totally original, unmolested machinery, the Grifo presented a once-in-a-lifetime opportunity for an enthusiast of these attractive and highly regarded sports cars. The subject of a spirited bidding contest, the car achieved an amazing £128,800 against a pre-sale estimate of £30,000-£50,000.

RM Sotheby’s London 2016 Top Five Sales

  1. Lot 169: Aston Martin DB4GT – £2,408,000
  2. Lot 132: 1995 Porsche 911 – £1,848,000
  3. Lot 134: 1960 Ferrari 250 GT Cabriolet Series II – £1,288,000
  4. Lot 129: 1993 Porsche 911 Turbo S Lightweight – £974,400
  5. Lot 147: 1939 Alfa Romeo 6C 2500 Sport Cabriolet – £952,000 (tied)
  6. Lot 153: 1963 Aston Martin DB4 Series V Convertible – £952,000 (tied)

Notably, a number of lots went unsold on the night and the room was half as full as on 2015. With the end of the big lots, the room quickly emptied leaving a number of bargains to be mopped up. Remarkably, a very pretty Ferrari Dino 208 GT4 sold for just £32,480 while a 1980 Porsche 911 SC Targa was purchased for £30,240, a relative bargain given the prices fetched for the RS models.

It is clear the market has matured and buyers are looking for good quality original cars, but it does mean that some genuinely good cars that will still represent solid investments are going unsold.

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.

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About the Author:

Tim Hutton has been involved in the automotive industry for 18 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.