Youngtimer collection bolsters buyer interest in two-day German sale bonanza
CHASING CARS Russ Smith’s market analysis
With less of an auction culture than other parts of the world, Germany has rarely been a happy hunting ground for auction houses. RM Sotheby’s was able to counter this with a large catalogue of cars, over half offered with no reserve. It gave the feeling of a very well polished clearance sale, and an 84.4%sale rate.
A large number of the cars were the bulk of the vast Youngtimer Collection RM is currently spreading around the world. It’s a mixed bag that contains some real gems, like the 1990 Mercedes-Benz 560SEC AMG 6.0 ‘Wide-Body’. Something of a Holy Grail amongst collectors, and with 81,000km, it made a way-over-estimate £128,880. Just as hard-hitting but more subtle was the 1998 CL600 AMG below. One of just 24 built with the 500bhp 7.0-litre V12 used in the Pagani Zonda, it showed just 58,000km. An astute buy at £37,672.
NOT SOLD 15.7%
SOLD BELOW ESTIMATE 12.3%
SOLD NO RESERVE 51.1%
SOLD WITHIN ESTIMATE 15.2%
SOLD ABOVE ESTIMATE 5.7%
An unusually high rate of ‘no reserve’ cars disguised the fact that a fair proportion would have otherwise likely wound up as unsold or below estimate.