CNBC looks at the Amelia Island classic car sales from RM Sotheby’s and Gooding & Co. Together, the two companies had a slight increase in total sales and substantial increase in average prices. The stars of the sales were the Ferrari from Ferris Bueller’s Day Off and Jerry Seinfeld’s selections from his Porsche collection.
The Ferrari did far better than expected at $17m but Seinfeld’s Porsches made $22m, the estimates were $28-32m:
The auction companies, including Gooding & Co. and RM Sotheby’s, racked up a total of $134 million in the sales, held in conjunction with the Amelia Island Concours D’Elegance, according to Hagerty, a collectible-car insurance company.
The total topped last year’s $115 million in sales, showing that while growth may be slowing for collectible-car prices, there was still strong demand for the highest quality vehicles.
The average sales price for a car jumped to $437,834 from last year’s $324,466.
Granted, some of the results were mixed. Of the 468 cars being auctioned off, about a third failed to sell. Yet Gooding & Co. made total of $60.2 million in sales, while RM Sotheby’s total was $38.7 million.