Q1 2021 – Glenmarch auction review

The US season-opening Scottsdale sales had a very different look this year with reduced catalogues from the Big Three; Bonhams and RM Sotheby’s running limited attendance live online auctions, while Gooding & Company moved its sale to an online only format.

RM produced impressive stats under the circumstances, posting a 90% sell-through rate and $35 million in total sales. RM’s pre-sale top-three entries all found new homes, the ex- Peter Blond 1955 Jaguar D-Type at $6,000,000 (estimate $5,750,000 – 7,500,000); a one-of-eight 1937 Bugatti Type 57 SC Tourer at $4,735,000 (estimate $4,750,000 – 6,500,000); and the first McLaren Speedtail to be offered at auction set the bar for the model at $3,277,500 (estimate $3,500,000 – 4,500,000).

‘Young timers’ attracted robust interest, headed by a 1998 RUF Turbo R guided at $525,000 – 575,000 that sold for $764,000. A 1990 Mercedes-Benz 190E 2.5-16 Evolution II showing 131,000km had no problem sailing past its $175,000 – 225,000 estimate, recording a sale at $268,800, and a 128,670-km 1990 BMW M3 Sport Evolution did likewise at $212,800 (estimate $125,000 – 150,000).

Carroll Shelby’s personal Cobra set a new record for the most expensive 427 Cobra sold at public auction when it raised $5,940,000 in January at Mecum’s mammoth 10-day Kissimmee sale. Mecum generated a $122.8 million sale total and an 89% sell-through rate, with 2,030 cars heading to new owners.

The auction focus returned to Paris in February, although the cancellation of this year’s Rétromobile forced the auction houses to revert to stand-alone events. The car that gave Matra its first victory at Le Mans, in the hands of Henri Pescarolo and Graham Hill, set a new record when it crossed the block at Artcurial; the 1972 MS 670 becoming the most expensive Matra to sell at auction with an all-in price including TVA of €6,907,200 (estimate €4,000,000 – 7,500,000).

Strong demand for top-tier rally cars saw more records broken with Artcurial’s Group B collection; a 1988 Audi Sport Quattro S1 achieving the highest price ever paid at auction for a rally car at €2,016,600 (estimate €1,000,000 – 1,300,000), and a 1985 Peugeot 205 Turbo 16 Evolution 2 signalled a new high-water mark for a 205 at €977,440 (estimate €600,000 – 800,000).

Lamborghinis performed well at RM’s Paris sale, its 1971 Miura SV that spent a number of years as a Jota hommage before being restored to original spec in 2016 was hammered away for €2,423,750 (estimate €2,100,000 – 2,500,000); while an ex-Rod Stewart 1977 Countach LP400 took €775,625 (estimate €750,000 – 900,000), and a UK-delivered left-hand drive 1967 400 GT, the subject of a recently completed four-year restoration, made €477,500 (estimate €450,000 – 550,000). Spirited bidding for a unique 10,500-km 1993 Isdera Commendatore 112i ensured its €400,000 – 600,000 estimate was comprehensively smashed, selling for €1,113,125.

Highlights at Bonhams ‘Legends of the Road’ sale in February included the ex-Bill Turnbull 1937 Bugatti Type 57S which went for £4,047,000 (estimate £5,000,000 – 7,000,000), and a part restored 1960 Aston Martin DB4GT also changed hands, drawing £1,975,000 (estimate £1,400,000 – 1,800,000).

Another of Carroll Shelby’s Cobras hit the headlines in March, when his ‘Cobra To End All Cobras’ fetched $5,500,000 at Barrett-Jackson’s Scottsdale sale. CSX 3015 started life as a 427 Competition Roadster, before being rebuilt by Shelby into a Super Snake with the addition of twin Paxton superchargers developing an estimated 800hp – enabling Shelby to clock 190 mph at the Turismos Visitadores open-road event in Nevada.

Silverstone Auctions rounded off the first quarter with its successful Race Retro sale, held as a live online auction. Top honours among the competition cars on offer went to an ex-Stirling Moss 1950 HWM Alta Jaguar at £517,500 (estimate £500,000 – 575,000), with a UK-supplied 10,000-mile 2011 Ferrari 599 GTO heading the classic and collector entries, bringing £500,625 (estimate £440,000 – 500,000).

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Glenmarch Q1 – Top 10 auction sales