April 21, 2024

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New Records Set at RM Sotheby’s Munich

Image: Benjamin Hodara; courtesy of RM Sotheby's

RM Sotheby’s held its last European sale of the year at Motorworld in Munich, Germany and the result was spectacular. The November 26 auction finished with €23,500,610 ($24.4m) in total sales and a strong 90.5 percent sell-through rate. Just the second event held by RM Sotheby’s in Germany, Munich 2022 now holds the record for the highest-grossing collector car auction in the country.

Image: Peter Singhof 2022; courtesy of RM Sotheby’s

Leading all other sales was a 1991 Ferrari F40. The revered supercar traded hands for €2,311,250 ($2,397,922), just in front of the 1938 Mercedes-Benz 540K Special Roadster in the style of Sindelfingen that sold for €2,007,500 ($2,082,781).

In the third spot at €1,917,500 ($1,989,406) was a 1958 BMW 507 Roadster Series II from the Bavarian Legends Collection. While the BMW nor any other of the lots offered from the collection took top-sale honors, it was the grouping of mostly German vehicles that grabbed attention in Munich.

The Bavarian Legends Collection comprised of 32 no reserve lots account for €7,725,625 ($8m) of the sales total. 27 of the 32 lots offered sold for amounts exceeding their high estimates and 19 of them hammered for more than double their low estimates.

Image: Cao

One such vehicle was the 1975 BMW 3.0 CSL “Batmobile” that held a pre-sale high estimate of €220k. The last of 57 second-series 3.0 CSL “Batmobiles” produced, the Chamonix White coupe sold for a hefty €578,750 ($600k).

A couple of the many notable sales from the Bavarian Legends Collection included a special 1980 BMW M1 at €792,500 ($822K) and 1997 BMW M3 Evolution that crossed the block for €286,250 ($297k) — over seven times more than its high estimate. While the price of the M1 is less of a surprise as the car was finished in unique Grey over Brown and delivered new to the head of the BMW M1 project, Jochen Neerpsch, the large amount realized for the M3 was a bit more shocking. $300k is massive money for a E36 BMW 3 Series, which have often lagged behind other 3 Series platforms in value.

Rounding out the top five sales from Munich was a 2008 Lamborghini Reventón at €1,748,750 ($1.8m) and 2017 Ferrari F12tdf — from the Driver and Rider Collection — which realized €1,208,750 ($1.3m).

Check out complete results from RM Sotheby’s Munich here

Image: Carlo Anastasio; courtesy of RM Sotheby’s