Countless make and model records were broken at all three of the Amelia Island Concours elite collectible car auctions
on the weekend, with a 1960 Ferrari 400 Superamerica SWB Cabriolet fetching US$6,380,000 and becoming one of the top 100 cars ever sold at auction, 23 cars selling for more than a million (RM-Sothebys 13, Gooding seven and Bonhams three), and $101 million worth of cars sold in three days. Testimony to the buoyancy of the market were the sell-through rates – Bonhams 78 percent, Gooding 89 percent and RM-Sotheby's 98 percent.
RM Auctions’ inaugural Sporting Classics of Monaco
event held on Saturday leaves little doubt that fine automobiles can be a rapidly appreciating investment. The average price achieved by the 88 cars which crossed the block was in excess of US$500,000 while the highest price fetched was EUR2,800,000 (US$3,799,600) for a 1962 Ferrari 400 Superamerica Cabriolet Pininfarina SWB (pictured top right). Some remarkable cars were sold on the day, including (pictured clockwise from bottom right) one of the world’s most significant pre-war sports racing cars, the 1937 BMW 328 MM ‘Buegelfalte’ (undisclosed but believed to be in excess of US$6 million), a handmade Rolls Royce which was the most expensive car made in the world in 1933 (US$1,975,792) and a Maserati Tipo 61 ‘Birdcage’ (US$3,343,648). Full details, images and story inside.
It may be nearly half a century old, but this rare Ferrari 400 Superamerica Cabriolet Pininfarina is appreciating quite nicely with age. So well that when it goes under the hammer in Monaco in May, keen judges are expecting the 1962 supercar could fetch in excess of US$5 million. With CES top of mind right now, one wonders how many products on the showroom floor this year will appreciate in value over the next 50 years.