Art Market Monitor

Global Coverage ~ Unique Analysis

  • Contact Us
  • Podcast
  • Newsletter
  • AMM Fantasy Collecting Game
  • AMMpro

Sotheby’s Car Sale Highlights Category’s Growing Value

November 22, 2013 by Marion Maneker

Jim Patterson, Sr. Interview

Sotheby’s held the first car auction to take place in Manhattan in quite some time by partnering with RM Auctions, the Canadian company. The $62.8m sale of 34 cars (plus other related items) was a test of the rapidly gaining in value car market. Although the estimates were aggressive, the sale did well overall and very well in particular instances like the $14.3m Ferrari and the $7.15m Talbot-Lago sold by Jim Patterson (an interview with Patterson is available by clicking through above.) Patterson had three lots in the sale that made a total of more than $10m. Here’s Bloomberg’s Katya Kazakina on the sale:

“There were ups and downs,” said Marcel Massini, a Swiss-based Ferrari historian, who attended the auction. “At this price level, the air is very thin.”

A Maserati A6G/2000 Spyder from 1955 with coachwork by Carrozzeria Zagato sold for $4.5 million, against an estimate of $3.5 million to $4.5 million.

The buyer was Oscar Davis, a swimming pool manufacturer from Elizabeth, New Jersey, who’s been collecting cars since the mid-1950s. With the Maserati, his collection will include 41 vehicles, he said.

A 1959 Ferrari 250 GT SWB “Competition” Berlinetta Speciale, a dual-purpose sports-racing coupe with bespoke coachwork by Bertone, fetched $7 million, within the presale estimate range. It was the third priciest lot of the sale.

Ferrari 250 LM Sells for Record $14.3 Million in New York (Bloomberg)

More from Art Market Monitor

  • Art Trails Other Valuables Over Last DecadeArt Trails Other Valuables Over Last Decade
  • RM Follows Up Ferrari Success in California with $22m Race ClassicRM Follows Up Ferrari Success in California with $22m Race Classic
  • Chanos Says the Market is Showing Its Sotheby’s TellChanos Says the Market is Showing Its Sotheby’s Tell
  • Cars Hold Flavor for CollectorsCars Hold Flavor for Collectors
  • Jim Chanos Thinks Art is a Bubble, He Wants You to Short Sotheby’s to Hedge ItJim Chanos Thinks Art is a Bubble, He Wants You to Short Sotheby’s to Hedge It
  • What’s Ailing the Market for Classic Cars? Supply, Not DemandWhat’s Ailing the Market for Classic Cars? Supply, Not Demand
  • Print
  • Tweet

Filed Under: Economic Trends Tagged With: Cars

Advertise on Art Market Monitor with Nectar Ads

Top Posts

  • Bonhams Brings Second Generation of Modern Vietnamese Art in Hong Kong
  • David Hockney's $20m Pacific Coast Highway & Santa Monica
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Artelligence Podcast: Pamela Joyner on Collecting Abstract Art by African-American Artists
  • Why I Am Leaving Gagosian
  • Man Ray's Noire et Blanche (€1-1.5m) Offered at Christie's France in November
  • Sotheby's Pulls in a $9m David Hockney for November
  • Peploe Leads Scottish Colourists at Lyon & Turnbull
  • Newsletter
  • Christie's Announces $70m Picasso Self Portrait


  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • Art Loans
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
Advertise on Art Market Monitor