July 23, 2024

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RM Sotheby’s Totals €25m in Paris

The Paris auction — the ninth annual such sale for RM Sotheby’s — closed with €24,913,510 ($28,209,567) in sales on February 2, and 91% of the lots on offer sold.

The big news of the night was the Petitjean Collection, Part II, which consisted of 28 road cars spanning 30 years, from 1959 to 1989. All of the lots saw significant interest, with the 1985 Ferrari 288 GTO selling for €3,464,375 ($3,922,712) — a new world record for the model, and the top lot of both the collection and the event overall.

1966 Ferrari 275 GTB/4 by Scaglietti — Alex Penfold ©2021 Courtesy of RM Sotheby’s

Just behind that was the 1966 Ferrari 275 GTB/4 — the Paris show car — which sold for €2,367,500 ($2,680,720).

Outside of the Petitjean Collection, a Ferrari Classiche-certified Ferrari F50 with just 12,722 km sold for €3,436,250 ($3,890,365), while a 1994 Bugatti EB110 GT — one of 84 built — brought a record €1,805,000 ($2,043,802). Beyond that, the 1983 Ferrari Meera S one-off built for Saudi Arabian royalty in the 1980s sold for €432,500 ($489,720) — or 245% its high estimate.

1983 Ferrari Meera S by Michelotti — Ahmed Qadri-Pixelhaus Media ©2021 Courtesy of RM Auctions

All this comes hot on the heels of a very successful Scottsdale auction week, where RM Sotheby’s totaled over $43m in sales, including many lots that easily outpaced their pre-sale estimates.

“We are beyond pleased with the results of Monsieur Petitjean’s collection and the entire event overall,” said Oliver Camelin, Director of Sales, Switzerland at RM Sotheby’s. “The success of these sales comes down to the trust that clients put into RM Sotheby’s when consigning their cars or entire collections, especially when the cars have been in such loved and long-term ownership. Across the board, the entire sale was a huge success and to achieve a sale rate of 91% really signifies just how strong the market is, at present.”

See the complete list of sold lots here.