RM/Sotheby's London 2019 - Miura barn find significantly above estimate
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Summary
The RM/Sotheby's London auction is one of the European auction highlights every year. On October 24, 2019, 84 cars and a motorcycle (as well as some accessories and automobilia) worth over £22 million went under the hammer in London Olympia. Each car/motorcycle was expected to fetch £261,000, but only £160,000 was paid, which was due to the fact that 1/3 of the lots could not be sold and valuable cars in particular were left standing. It didn't help that a quarter of the lots were offered without a reserve price. A Lamborghini Miura P400 S that was practically pulled out of the barn sold for £1.26 million, significantly more than expected. This auction report analyzes the results and shows the vehicles in pictures.
This article contains the following chapters
- Expectations not met
- Ferrari, Porsche, Mercedes-Benz and Aston Martin with moderate results
- Young supply did not improve the average
- The positive surprise - Lamborghini from the barn
- Super Classic Festival
- Formula 1 cars at a bargain price?
- Special features with rashes
Estimated reading time: 4min
Preview (beginning of the article)
The RM/Sotheby's London auction is one of the European auction highlights every year. On October 24, 2019, 84 cars and a motorcycle (as well as some accessories and automobilia) worth over £22 million went under the hammer in London Olympia. Each vehicle (including a motorcycle) was expected to fetch £261,059 in London. However, this could not hide the fact that there were both very expensive and relatively inexpensive cars among the 85 lots. Prices in excess of one million were expected for six cars, and over 20 cars were expected to sell for five figures. The five most valuable cars, including a 2006 Maserati MC12 GT1 (highest bid £1.6 million), a 2003 Ferrari Enzo (£1.35 million), a 1994 Formula 1 Ferrari 412 T1 (£1.2 million), a 1989 Jaguar XJR-11 (£900,000) and a 1990 Porsche 962C (£825,000), were all left standing, despite the fact that serious sums were offered for the cars. However, the consignors' limits were obviously not reached.
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