RM Auctions, Don Davis Collection, Fort Worth, Texas, April 27, 2013
Report and photos by Rick Carey, Auction Editor
Auctions of single owner collections are always exciting. The owners’ reputations for quality and focus confer instant “provenance” and collectors flock to them to take home a piece of automobile, and automobile collecting, history.
Frequently those pieces come at a steep price. Competition with other collectors has a way of loosening bidders’ purse strings and makes reporting, let alone interpreting, the results a challenge.
That was the case at RM’s auction of Texas collector Don Davis’s 64 cars in Fort Worth.
Does a million dollar Toyota 2000GT represent a lasting value benchmark, or is it a unique confluence of time, place, participants and opportunity that ignited bidding for a rarely seen star car?
Do the generous prices for the low mileage series-built mid-engined Ferrari V-8s (328 GTSi and Mondial t Cabriolet) vindicate the results for similar cars at RM’s Monterey auction last August?
By my reckoning, of the 48 cars written up, four (the three mentioned above plus the Porsche 959 Komfort) achieved spectacular results. Another twenty-two were expensive in the current market. Only four could be considered good values. There were no bargains.
But that also shows the effectiveness of marketing single owner collections in an auction, a technique which RM has perfected in this and other recent sales.
Tread carefully through the results of the 48 cars reported here, there are land mines among the reported results.