The RM Auctions Concorso d’Eleganza Villa d’Este auction was held 21 May, 2011 on the banks of Lake Como at the Spazio Villa Erba in Cernobbio, Italy. The inaugural auction resulted in more than €23 million in total sales and a 75% sell-through rate.
The RM Auctions at the Concorso d’Eleganza Villa d’Este 2011 featured a selection of 32 motor cars, with six achieving individual million-euro-plus results and two lots surpassing €3 million. Top honors went to a 1955 Ferrari 375 MM Berlinetta that sold for €3.360.000, followed by the 1938 Talbot-Lago T150-C SS Teardrop Coupe at €3.136.000 and the 1957 Ferrari 500 TRC Spider that made €2.800.000.
“It has been a privilege to conduct an auction at the Concorso d’Eleganza Villa d’Este and to achieve such a great result from such a stunning selection of motor cars,” says Max Girardo, Managing Director, RM Europe. “Combining automobiles of exceptional quality with the first-class presentation for which RM is known, the sale attracted bidders from over 23 countries, with numerous lots exceeding expectations. We could not have hoped for a better start to our 2011 European auction season,” Girardo adds.
Offered for the first time, the concept cars from the official collection of Bertone S.p.A garnered attention and spirited bidding. Headlined by the wild 1967 Lamborghini Marzal, a predecessor to the Espada, for €1,512,000, total sales for the collection surpassed €3.6 million, with numerous lots exceeding expectations. Additional sales included the 1974 Lamborghini Bravo, which achieved €588,000, almost four times its pre-sale estimate, while the 1980 Lamborghini Athon doubled its estimate to sell for €347,200.
“It was wonderful to offer these famous Italian cars on their home soil. The auction results reflect the enormous pre-sale interest in the collection, with bidders recognizing both the significance of these cars and the unique opportunity that their sale presented,” Girardo adds.
Other notable auction sales included 1964 Alfa Romeo TZ Coupe, which, with period racing history, achieved a world-record breaking price of €627,200; and an original, well-documented 1957 BMW 507 that also entered the history books with its record-setting €728,000 auction price.
RM Auctions offered 32 automobiles for the single-day Villa d’Este auction, with 24 finding a new owner, reflecting a 75% sales rate. Total sales volume was €23,431,500 ($33,436,750 USD), inclusive of 12% buyer’s premiums. The average price per car sold was €976,312 ($1,393,198 USD). Exchange rate used: 1 EURO = 1.427 USD.
RM Auctions Concorso Villa d’Este 2011 – Top Ten Results
1. 1955 Ferrari 375 MM Berlinetta, €3.360.000 ($4,794,720 USD)
2. 1938 Talbot-Lago T150-C SS Teardrop Coupe, €3.136.000 ($4,475,072 USD)
3. 1957 Ferrari 500 TRC Spider, €2.800.000 ($3,995,600 USD)
4. 1959 Ferrari 250 GT LWB California Spyder, €2.520.000 ($3,596,040 USD)
5. 1967 Lamborghini Marzal, €1.512.000 ($2,157,624 USD)
6. 1937 Mercedes-Benz 540K Cabriolet A, €1.400.000 ($1,997,800 USD)
7. 1939 Delahaye 135 MS Grand Sport Roadster, €784.000 ($1,118,768 USD)
8. 1970 Lancia Stratos HF Zero, €761.600 ($1,086,803 USD)
9. 1957 BMW 507, €728.000 ($1,038,856 USD)
10. 1954 Aston Martin DB2/4 Competition Spider, €672.000 ($958,944 USD)
RM Auctions continues its European events calendar in England on 23 June, 2011 with its inaugural sale at the Salon Prive luxury car show and Concours d’Elegance. Held at the Syon Park estate in West London, the recently-launched summer sale will lift the hammer on a host of British marques, including Aston Martin, Jaguar and Rolls-Royce, among others.
For more information, visit www.rmauctions.com.
In addition to the Concorso d’Eleganza Villa d’Este 2011, photographer Tim Scott also documented the RM Auctions Concorso d’Eleganza Villa d’Este auction, offering the following images from the debut sale. To see more from Tim, visit fluidimages.co.uk.
RM Auctions at the Concorso d’Eleganza Villa d’Este 2011 – Auction Photo Gallery
RM Auctions at the Concorso d’Eleganza Villa d’Este 2011 – Auction Results
[Source: RM Auctions; photo credit: Tim Scott / Fluid Images]