Auctions: 2023 Amelia Island Auctions Reach $186 Million

The Florida Sales Post a New Record but Say Goodbye to RM Sotheby’s

The four auctions held in conjunction with the 2023 Amelia Island Concours d’ Elegance recorded a stunning $186M in sales. This crushed last year’s nearly $130M haul, even allowing for the $31M added to this year’s tally by a fourth auction, Hagerty’s own Broad Arrow. The top sale of the weekend, $18M for the 1962 Ferrari 250 GT SWB California Spider the Gooding & Company sale, was $13M ahead of the second-highest sale, the Pagani Zonda R Revolución.

Hagerty reporting attributed the rise in sales to “more top-tier cars than in years past. The auctions covered the gamut of the collector car world, so that “top tier” comment could apply to a broad spectrum.

Ferraris accounted for 13 of the Top-10 cars across the four auctions. There were four Porsches in that group, the three sold by Broad Arrow garnering over $1M, including a 1987 959 Komfort for $1.7M

There were numerous Stuttgart stunners under the $1M mark, too. One of Premier’s auction preview cars, a restored Tangerine 1968 Porsche 911 S, brought $297,750 at the RM Sotheby’s sale, where it was offered at no reserve. The price came very close to Hagerty’s estimate for a car in #1 concours condition. Broad Arrow sold a 2011 GT3 RS 4.0 for $709K.

RM Sotheby’s had the highest sale for a Pre-War car at Amelia Island with a Duesenberg achieving $4.3M to earn its auction’s #3 slot.

Here’s a look at the four auctions.

Ferraris Bring the Gold at Gooding & Company

Gooding & Company had its most successful Amelia Island sale to date. The two-day auction brought in nearly $73 million, with one car, the 1962 Ferrari 250 GT SWB California Spider, accounting for a quarter of that with its $18,045,000 price with the seller’s premium. The company reported a 95-percent sales rate at 15 cars over $1M.

The Ferrari 250 GT California, which was one of Premier’s “Cars to Watch” for the Amelia island auctions, set the record for most valuable car ever sold at auction in Amelia Island. The crowd seemed to find its Azzurro Metallizzato (Metallic Blue) color irresistible.

Ferraris accounted for seven of Gooding & Company’s top-10. Two sold for the same $3.525M, a 1953 250 MM Spider and a 1967 275 GTB/4 berlinetta, the latter in the distinctly non-red shade called Blu Scuro. Of note, both Gooding & Company and Bonhams each sold a Ferrari 500 Superfast Series 2 model, with the Gooding car selling for $2,012,500 and the Bonhams car barely $20K behind it at $1.93M.

Another non-red Ferrari set an impressive record for Gooding & Company, with $967,500 for original, unrestored 1974 Ferrari Dino 246 GTS with the “chairs and flares” option. It became the most valuable Dino 246 GTS to ever sell at auction. The car was said to be one of just 35 Dinos painted in Verde Pino Metallizzato (Metallic Pine Green).

Two German blue-chip classics came close to each other, with a 1958 BMW 507 Series II selling for $1.82M and 1962 Mercedes-Benz 300 SL Roadster just a Honda Civic behind at $1,792,500. A 1931 Duesenberg Model J Convertible Sedan showed the strength of the pre-war category, selling for $2.2M. A Premier preview car, a 1968 Lamborghini Islero, sold for $478,000.

Light green Ferrari California Spider right front view
The $18M 1962 Ferrari 250 GT California Spider was the New York Auto Show display car. (Source: Gooding & Company)
Dark blue BMW 507 left front view
One of the three Gooding & Company Top-10 cars that were not Ferraris, this 1958 BMW 507 sold for $1.8M. (Source: Gooding and Company)
Gooding 1967 Ferrari 275 Gtb4
1967 275 GTB/4 Berlinetta, in Blu Scuro instead of the normal shade of red. (Source: Gooding & Company)

Gooding & Company Amelia Island Top-10

1. 1962 Ferrari 250 GT SWB California Spider$18,045,000
2. 1953 Ferrari 250 MM Spider Series II$3,525,000
3. 1967 Ferrari 275 GTB/4$3,525,000
4. 1990 Ferrari F40$3,085,000
5. 1973 Ferrari 365 GTB/4 Daytona Spider$2,535,000
6. 1931 Duesenberg Model J Convertible Sedan$2,205,000
7. 1965 Ferrari 275 GTB$2,040,000
8. 1964 Ferrari 500 Superfast$2,012,500
9. 1958 BMW 507 Series II$1,820,000
10. 1962 Mercedes-Benz 300 SL Roadster$1,792,500

RM Sotheby’s Sells $70M at Amelia Island

RM Sotheby’s reported $70M in sales at its one-day Amelia Island auction, with a 92-percent sell-through rate. A 2010 Pagani Zonda R “Revolución Specification” was the top sale at $5.34M (and one of Premier’s “Cars to Watch”). A 1995 Ferrari F50 was hot on its rear diffuser at $5.065M and was part of the Ferrari supercar series trifecta, with that F50, a 288 GTO in the fourth slot at just under $4M, and an F40 in seventh bringing nearly $1.9M.

Following Bonhams jackpot pre-WWI sale of a Simplex for $4.8M in Scottsdale in January, RM Sotheby’s hit one into that ballpark with a 1931 Duesenberg Model J ‘Disappearing Top’ Convertible Coupe by Murphy for $4.295M. Hagerty reporting indicated that this car had sold for $3,520,000 in 2015.

A 1965 Ferrari 275 GTS Spider, another of Premier’s “Cars to Watch,” made the Top-10 with a $1.655M sale. RM Sotheby’s also posted big numbers with Ferrari Dinos, with a gray 1968 Dino 206 GT selling for $868,500 and a red 1974 Dino 246 GTS “chairs and flares” car selling for $758,500.

The auction company had previously announced that the 2023 Amelia Island auction would be its last at the venue, with a new South Florida event planned for 2024. Rob Myers, Chairman & CEO, RM Sotheby’s, announced that the company’s last auction here raised $1.2 million for Spina Bifida of Jacksonville “in a matter of minutes.”

In the pre-War circle, RM Sotheby’s had 1936 Lancia Astura Series III Cabriolet ‘Tipo Bocca’ by Pinin Farina, a previous Pebble Beach ‘Best in Show’ that brought $2.205M. A 1930 Packard 745 Deluxe Eight Convertible Victoria by Waterhouse sold for $637,500, a record for the model.

Of the cars in the auction that exceeded pre-sale estimates, the most noteworthy was the 1964 Shelby Cobra that sold for $1.655M.

Red and black 1931 Duesenberg left front view
1931 Duesenberg Model J Convertible Coupe was highest Pre-War sale at the $4.3M. (Source: RM Sotheby’s)
Black Pagani Zonda R Revolución high right front view
2010 Pagani Zonda R Revolución sold for $5.34M at RM Sotheby’s final Amelia Island sale. (Source: RM Sotheby’s)

RM Sotheby’s Amelia Island Top-10

Pagani Zonda R Revolución Specification $5,340,000
1995 Ferrari F50                              $5,065,000
1931 Duesenberg Model J ‘Disappearing Top’ Convertible Coupe by Murphy$4,295,000
1985 Ferrari 288 GTO         $3,965,000
1953 Maserati A6GCS/53 Spyder by Fantuzzi$2,590,000
1936 Lancia Astura Series III Cabriolet ‘Tipo Bocca’ by Pinin Farina           $2,205,000
1991 Ferrari F40                              $1,875,000
1963 Mercedes-Benz 300 SL Roadster$1,765,000
1965 Ferrari 275 GTS         $1,655,000
1964 Shelby Cobra              $1,655,000

Bonhams’ Amelia Island Auction Sells $12.8M

Bonhams reports a $12.8M sale at its Amelia Island auction, an 80-percent sell-through rate. A 1966 Ferrari 500 Superfast Series 2 taking its top slot at $1.93M. That was nearly double the car’s pre-sale estimate. The car was the 36th of 37 500 Superfasts made, and one of the dozen Series 2 cars with the five-speed manual transmission. (The 37th car had a 300 GTC engine and so was not quite as “super fast.”) Bonhams reports that the car had 14 bidders, with the winner a telephone bidder. Perhaps one of the others scored the 500 Superfast at Gooding & Company.

A grouping of significant Jaguars collected by the late Thomas C. Hendricks brought $1.8M, with the two top cars in the group each selling for $775K. The first was one of only three 1951 Jaguar Works-built lightweight aluminum racing XK120s, this one taking third place at its debut race at Elkhart Lake with Florida-born Phil Hill driving. A Costin-bodied 1959 Lister-Jaguar sports racer achieved the same price.

One of two Premier preview cars for this auction, the 1962 Maserati 5000 GT Coupe by Allemano, sold for $417K, which was below the $500K-$800K pre-sale estimate. The car needed restoration. The second preview car, the 1933 Chrysler Imperial Model CL Dual Cowl Phaeton originally owned by Marjorie Merryweather Post, did not sell.

Silver Ferrari 500 Superfast right front view
Ultra-rare 1966 Ferrari 500 Superfast sold for $1.9M at Bonhams, nearly doubling its estimate. (Source: Bonhams)
Black Maserati 5000 GT left front view
Another super-rarity, this 1962 Maserati 5000 GT brought $417K at the Bonhams Amelia Island sale. (Source: Bonhams)

Bonhams Amelia Island Top-10

1966 Ferrari 500 Superfast Series 2$1,930,000
1951 Jaguar XK120 LT3 Works Lightweight$775,000
1959 Lister-Jaguar Sports Racer$775,000
1928 Mercedes-Benz 630K ‘La Baule’ Torpedo Transformable$731,000
1962 Maserati 5000 GT Coupe$417,500
1992 Nissan Skyline R32 GT-R Group A ‘BP Trampio’ Racecar$379,000
1923 Duesenberg Model A Tourer$335,000
1966 Ferrari 330GT 2+2$318,500
1925 Rolls-Royce Silver Ghost Piccadilly Roadster$291,000
1951 Porsche 356 Pre-A 1300 Cabriolet$285,000

Broad Arrow Amelia Island Auction Sells $31M

Broad Arrow’s inaugural Amelia Island Auction totaled $31M with an 80-percent sell-through rate. The high sale was a 2015 McLaren P1 at $2.425M. In second was the highest sale for a Porsche across the Amelia Island auctions, a 1987 959 Komfort for $1.7M. Another McLaren, a 2019 Senna, took fourth place at just under $1.4M, and a 2016 McLaren MSO HS brought $830K.

A very rarely seen 1991 AMG Hammer 6.0 Widebody Coupe sold for just under $900K, and a 1987 Hammer sedan brought $775. These cars were from AMG just before Mercedes-Benz bought the independent tuner to make it the in-house performance division. Also noteworthy, a 2002 Lotus Esprit V8 25th Anniversary Edition sold for $193,200.

Black McLaren P1 high left front view
Broad Arrow’s top sale at The Amelia was a 2015 McLaren P1 for $2.425M. (Source: Broad Arrow)
Silver Porsche 959 left front view
Broad Arrow sold all three $1M+ Porsches at the Amelia auctions, including this 1987 959 for $1.7M. (Source: Broad Arrow)

Broad Arrow Amelia Island Top-10

2015 McLaren P1$2,425,000
1987 Porsche 959 Komfort$1,710,000
2005 Porsche Carrera GT$1,517,500
2019 McLaren Senna$1,380,000
1932 Alfa Romeo 6C 1750 V Gran Sport Figoni$1,270,000
1937 Bugatti Type 57C Vanvooren Roadster$1,132,500
1961 Mercedes-Benz 300SL Roadster$1,215,000
1994 Porsche 911 Turbo S ‘Flachbau’$1,215,000
2021 Ford GT$1,050,000
1991 AMG Hammer 6.0 Widebody Coupe$885,000

The Broad Arrow auction could get the award for “Fun Cars of Our Rowdy Youth,” with a 1974 Pontiac Firebird Trans Am SD455 selling for $173,600. (That was just $1,400 under a fine example of German V8 muscle, a 1992 Porsche 928 GTS at $175,000.) And, over in the sport-compact category, how about a record-setting $151,200 for a 1997 Acura Integra Type R with just 6,000 miles?

We thank all of the people and our clients who took the time to stop by our booth at this year’s Amelia Island event. We’re already making plans for next year’s… See you there.

Amelia Auction Wrap Up Pfs Images
Pictured here from PFS is Keith Neelans, Chris Warren, and Doug Ewing with Special guest Ed Bolian of VINWiki, who drew a crowd at the PFS Booth at Amelia.
Amelia Auction Wrap Up PFS Booth
The PFS Booth at The Amelia 2023
Jim Koscs
Written by Jim Koscs, Audamotive Communications