Worldwide Auctioneers held its third annual Hilton Head auction event on November 1st at the Honey Horn Plantation located on Hilton Head Island in South Carolina.
Worldwide Auctioneers’ 2008 Hilton Head auction, held in combination with the Hilton Head Island Concours d’Elegance & Motoring Festival, featured more than 100 classic cars, headlined by a 1949 Alfa Romeo 6C 2500, 1963 Maserati 3500 GT Spyder, 1969 Lamborghini Miura P400 and 1958 Dual Ghia Convertible.
Top sale went to the faultless 1949 Alfa Romeo 6C 2500 Sport Cabriolet at $354,400, while the Dual Ghia Convertible brought $319,000. A pair of Maseratis, a 1963 3500 GT Spyder and 1963 Sebring Coupe, stable mates for the past 25 years, changed hands for $211,200 and $85,800. And despite prodding from Chief Auctioneer Rod Egan and the crowd, they are unfortunately going to separate homes.
“Once again the market has spoken well, with great cars garnering significant interest and realizing strong prices”, said Rod Egan. “Regardless of a perceived economic slowdown in the United States, high quality cars are still showing to be an excellent investment.”
John Kruse, Managing Partner, said, “The Hilton Head sale is the culmination of what has been a fantastic year for us, with spectacular results at the Houston Classic Auction this spring, the successful launch of our inaugural event, The Auburn Auction in August and the acquisition and construction of our new US Headquarters in Indiana. We look forward to building on this success in 2009, starting with the Houston Classic Auction on May 2nd.”
Worldwide Auctioneers offered 108 automobiles for sale, with 65 finding a new owner, reflecting a 60% sales rate. The total sales volume was $4,237,300, inclusive of buyer’s premiums. Sales were slightly down from last year’s total of $4,547,700, but the average price per car sold was much higher at $65,189 versus $48,379.
We would be remiss if we didn’t mention the financial and political environment surrounding the Hilton Head auction, as it took place during the height of the credit crisis/recession/market implosion and three days before the election. In that very nasty atmosphere, it is amazing that Worldwide registered any sales at all. Let’s hope that next year will be more favorable.
Full auction results can be found at www.wwgauctions.com.
2008 Hilton Head Auction Highlights:
1942 Alfa Romeo 6C 2500 Sports Cabriolet – Sold for $345,400 versus the pre-auction estimate of $400,000 – $500,000. Sold with its original engine, chassis and aluminum body, this exceptional Alfa was selected as the Most Elegant Sports Car at Amelia Island in 2005, among many other awards including a 100 point judging at a CCCA event. Invited to Pebble Beach and Quail for 2009.
1958 Dual Ghia Convertible – Sold for $319,000 versus the pre-auction estimate of $325,000 – $375,000. Painted in its factory color of Eggplant, this fully restored Dual Ghia reportedly had the same owner for 25 years.
1969 Lamborghini Miura P400 – Not Sold at high bid of $350,000 versus the pre-auction estimate of $400,000 – $500,000. This three-owner Miura was fresh from a comprehensive restoration.
1963 Maserati 3500GT Spyder – Sold for $211,200 versus the pre-auction estimate of $225,000 – $275,000.
1963 Maserati Sebring Coupe – Sold for $85,800 versus the pre-auction estimate of $100,000 – $125,000.
1931 Chrysler Imperial Dual Cowl Phaeton – Sold for $137,500 versus the pre-auction estimate of $160,000 – $180,000.
1954 Aston Martin DB 2/4 – Sold for $165,000 versus the pre-auction estimate of $160,000 – $180,000.
1917 Packard 2-25 Twin Six Runabout –Not Sold at high bid of $175,000 versus the pre-auction estimate of $275,000 – $325,000.
1948 Chrysler Town & Country Convertible – Not Sold at high bid of $110,000 versus the pre-auction estimate of $140,000 – $160,000.
1970 Ferrari Dino 246 GT Berlinetta – Sold for $126,500 versus the pre-auction estimate of $140,000 – $160,000.
1953 EMW T327 Coupe – Sold for $75,000 versus the pre-auction estimate of $120,000 – $140,000.
1959 Jaguar XK-150S OTS – Sold for $150,000 versus the pre-auction estimate of $160,000 – $180,000.
[Source: Worldwide Auctioneers]