RM Auctions, Concorso Villa d’Este, Villa Erba, Cernobbio, Italy, May 25, 2013
Report by Rick Carey, Auction Editor
It’s a confusing name change, but RM’s auction at Villa Erba is Villa d’Este by an adjacent property’s name. It didn’t change the sale’s dynamic, or the quality of the consignments, which never went below six figures (even in Euros), averaged just over $1.1 million per transaction and had a median value of $550,343.
An auction of headline vehicles in a headline location where even the runaway top seller, Ferrari 340/375MM s/n 0320AM, sold for $12,733,952, a third of the auction’s $35 million total, only complemented without outshining the other consignments.
Nine cars were bid to $1 million or more on the block, eight of them sold, an 88.9% sale rate that was better even than the auction’s overall sale.
The strength of both the consignments and the sale rate at Villa Erba foreshadows what is likely to be the Monterey experience in 2½ months.
Photos are courtesy RM Auctions and copyright © by their various photographers including Tim Scott, James Mann, Simon Clay, Darin Schnabel, Pawel Litwinski, Henri Thibault, Bernard Canonne, Cymon Taylor, Tom Wood, Hardy Mutschler, Teddy Pieper and Guido Bissattini.