RM/Sotheby's London 2018 - not a great time for exclusive classics
Summary
On September 5, 2018, RM/Sotheby's auctioned 93 cars and a motorcycle, including some very exotic and unusual vehicles for such an event, at the Battersea Evolution event center in London. The total value of the vehicles was estimated at over £32 million. However, buyers did not bite as expected and only 53 percent of the vehicles were sold, in many cases well below expectations. This auction report analyzes the results, lists all the highest bids and shows all the lots in the picture.
This article contains the following chapters
- Weird vehicles with miserable results
- Better results for Porsche
- Ferrari well below expectations
- Wrong bidding public for Maserati?
- 43 unsold cars
- Vehicles offered and sold
Estimated reading time: 4min
Preview (beginning of the article)
It was a surprisingly eclectic menu that RM/Sotheby's served up in their traditional autumn auction at the Battersea Evolution center in London on September 5, 2018. A total of 94 vehicles worth £33 million (EUR 37 million, CHF 41.7 million) came under the hammer, two of which were withdrawn before the auction began. The high expectations were not fulfilled. Instead of the targeted £ 344,000 per lot, just £ 187,000 was achieved. The sales rate was a disappointing 53 percent, with an average bid of 72 percent of the median estimate. This was certainly not what RM-Sotheby's managers had in mind.
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