The Latest From The Amelia Island Auctions
Have you been eager to know all about the Amelia Island Auctions this year? Since it wrapped up on March 7th, there have been many people interested to see the final report that offers several insights and perspectives into the overall direction of the collector car market. Luckily, we’ve rounded up the latest information about the event.
- Despite concerns about the coronavirus, stock prices, and a general softening in the collector car market over the last year, sales at Amelia Island auctions were up (excluding the 2019 sales of Russo and Steele, which did not come this year).
- Vehicles priced at or above $500,000, which have suffered in recent auctions, had a better sell-through rate than last year.
- Bidders were interested mainly in vehicles that were accessible and that appear often at auctions.
- Valuable vehicles, in contrast, got higher bids if they were rare opportunities.
- Pre-war cars continue to polarize; familiar vehicles sold poorly while exceptional ones sold well.
Cars from the 1990s with less than 10,000 miles sold better than vehicles with similar mileage from other decades.
Amelia Island Auctions 2020 – Overall Auction Data
Cumulative Total: $77.4M
306/350 lots sold: 87% sell-through rate
Average Sale Price: $252,838
2019 Cumulative Results through Saturday**
Cumulative Total: $79.6M
321/452 lots sold: 71% sell-through rate
Average Sale Price: $247,906
**2019 includes Russo and Steele
Overall Top 10 Sales from all auctions through Saturday:
- 1932 Bugatti Type 55 Super Sport Roadster sold for $7,100,000 (Bonhams)
2. 1907 Renault Type AI 35/45hp Racer sold for $3,332,500 (Bonhams)
3. 2003 Ferrari Enzo Coupe sold for $2,782,500 (RM Sotheby’s)
4. 1914 Rolls-Royce Silver Ghost 40/50 hp Phaeton sold for $2,205,000 (Gooding & Company)
5. 1938 Bugatti Type 57 D’leteren Cabriolet sold for $1,655,000 (RM Sotheby’s)
6. 1963 Ferrari 250 GT Lusso Coupe sold for $1,600,000 (RM Sotheby’s)
7. 1967 Ferrari 330 GTS Spider sold for $1,475,000 (Bonhams)
8. 1969 Lamborghini Miura P400 S Coupe sold for $1,435,000 (Gooding & Company)
9. 1976 Porsche 934 Race Car sold for $1,380,000 (Gooding & Company)
10. 1961 Ferrari 250 GT Cabriolet SII sold for $1,352,500 (RM Sotheby’s)
At CAV Insurance Agency, protecting your classic car comes naturally. We have access to specialty companies such as Hagerty, Grundy, and AIG. These carriers offer policies designed specifically for your collector car, and they take into consideration the limited seasons we have up here to drive these cars. At CAV Insurance we serve motorists from Dover & Sherborn to Wellesley, Needham and Weston and neighboring towns. Contact us today and let us put our decades of collector car insurance expertise to work for you!