May 17, 2024

Linkage Mag

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RM Sotheby’s Achieves $46m at Amelia Island

The Amelia — or The Amelia Island Concours d’Elegance among traditionalists — has wrapped, and so too has the annual RM Sotheby’s auction that takes place alongside the event.

This year, which marked the 23rd such event for RM Sotheby’s, totaled $46.6m overall. At the end of the single-day sale, 89% of the lots on offer went on to new homes.

An Original Painting of Mario Andretti by Kelly Telfer, signed by Mario Andretti himself, sold for $138k. All proceeds went to charity to research Spina Bifida

The high sale of the event was a 1934 Packard Twelve Individual Custom Convertible Victoria by Dietrich at $4,130,000. It’s one of just three so built, and this particular example had been carefully restored to the highest levels — in 2014, it achieved a First in Class at Pebble Beach, and was a runner up for Best in Show. Just behind it, a 1930 Duesenberg Model J Convertible Sedan by Murphy blew past its estimate by seven figures, selling for $3,525,000. Both results served as further data points to suggest a continued boost in the market for Full Classics — particularly those that have fantastic histories and restorations.

Beyond the Full Classics, RM Sotheby’s also presented a number of modern Supercars as well, including a 2019 Bugatti Chiron Sport — one of 60 built, and the first example sold at public auction in North America. It sold to a new owner at $3,360,000. 

A 2020 McLaren Speedtail — the most aerodynamic and the fastest car sold by McLaren — brought $2,700,000, while a 2015 Ferrari LaFerrari in black brought $3,662,500, selling to a bidder in the room. 

Traditional poster cars also did well here, including a 1991 Ferrari Testarossa, which saw significant interest across the block and sold at $321,250. The pre-sale estimate on that car was $180,000. A 1994 Porsche 911 Turbo S “Package” car brought $1,105,000, while a 1993 Jaguar XK220 made $687,000.

1991 Ferrari Testarossa Nathan Leach-Proffer ©2022 Courtesy of RM Sotheby’s

“The 2022 auction season has continued to show us that the collector car market further gains momentum,” said Gord Duff, Global Head of Auctions for RM Sotheby’s. “We broke records in Arizona and Paris, and Amelia Island has proven to be a great success as well, having sold over $46 million on Saturday. One of the most exciting moments of the auction was selling the 1930 Duesenberg for more than $1,000,000 over its high estimate. The Duesenberg came from a long-standing client and friend of RM Sotheby’s, so it was great to see it exceed all expectations. Lastly, The Oscar Davis Collection just announced this past weekend received an incredible amount of attention as we placed two of Mr. Davis’s cars on display. Our entire team is motivated and ready to continue the charge in Fort Lauderdale, Monaco, and Monterey.”

See the complete results here, and watch for in-depth coverage in the next issue of Linkage.