Scottsdale, AZ Auctions 2015 – RM Auctions

After we left Gooding’s, things got a little crazy, as we suddenly realized that rather than starting at 7:00 as is usually the case, RM had ALREADY started at 5:00, and it was now 10 minutes past!

One of the big reasons that I decided to go out this year was that another of my customers, Shaun Saunders, had entered a freshly restored ’65 E-Type OTS with some of our panels installed. This car was actually relatively rust-free, and so our panels were limited to the mudshields under the bonnet, the interior A-Post vinyl-covered panels, and a few other small pieces.

Shaun’s last car, a nearly identical ’66 OTS in triple black, sold for $295k, so we were all hoping to see a great result from this car – possibly over $300k!

In the end, though, the car sold for $255k… I don’t think that was any reflection on the car itself – the workmanship was impeccable – if anything, it was OVER-restored, although that is what many auction patrons are looking for. Shaun does primarily Series 1 4.2 roadsters, and has a “recipe” for their restoration, so the cars are all built to the same level and in the same style.

Instead, I think the price was a little lower due to the fact that this was the first E-Type OTS to go across the block all week. And with no less than THREE 1961 outside-lock cars in town to be auctioned, I think many E-Type collectors were holding back to try to nab one of those cars…

Here are photos of the fun on Thursday evening at RM Auctions – Enjoy!

: We arrived at the venue – the Arizona Biltmore in Scottsdale – with the auction already underway, but were in close contact with Shaun, and knew we had about 20 minutes before his OTS rolled across. So we stopped and took a quick shot of me out in front of the Resort – because it’s not often that I look like this!

: RIGHT across from the photo above was the valet parking stop, and these cars were not part of the auction, but belonged to guests who had driven up to the event! You don’t see that every day!

: Here we are moving FAST past these cars to get inside, and I’ll admit that I took this photo of what looked like a very nice E-Type OTS without even breaking my stride!

: We made it! We’re inside, and no E-Types have been sold yet, but we’re getting close! And just as we walked in, the cheaper, roadster version of the 300SL (which people are DRIVING UP to this event in…), is still going at 1.1 million dollars!

: Then quickly, this GORGEOUS 3.8-liter E-Type FHC rolled up onto the block!

: Finished in opalescent dark grey, with a tan interior, Shaun said that this car was excellent. This shot was taken near the end of the bidding, which went to $190k – quite respectable for a coupe – and I’m glad to see them following close behind the roadsters – finally!

: AS I mentioned in the previous blog – the 190SL is a great car, but no comparison to the 300SL, and here, the price reflects that (although I think the hammer price on this may have been a little higher.)

: As you can see, by this point, we had worked around to the back of the room, though the view was excellent and there was not a “bad” seat in the house. The decor was perfect, and the atmosphere was very high-class. As a result, the cars also seemed to be absolutely top-quailty, like the Lamborghini P400 Miura SV-J.

: The bidding on this car started STRONG! I actually didn’t even realize that there was something considered HIGHER than an SV, but this car apparently came back to the factory for upgrades beyond SV specs.

: A shop that we sold alot of parts to when I was a kid had a wrecked SV in the back that the shop owner had travelled to the Middle East for and purchased from a Sheik. It was being rebuilt by them in their spare time – when I saw it, they were rebuilding the drilled super-light I-beam support that made up the front suspension’s tubular framework – much like an E-Type. As you can see, the bidding is moving up quickly, so I have decided to pass on it – my top bid was 1.6 million. Just kidding – of course…

: I think this was about where she maxed out…

: And soon, the highlight of our night was being driven onto the block – Shaun’s ’66 E-Type OTS (see our earlier blog entry about 2 weeks ago for detailed photos of this car).

: There she is! With the opalescent silver blue paint lookig a little more silver than blue under these lights.

: The car started off strong and moved to $140k, where it stalled for a few moments. This apparently happens, as bidders hold backin an attempt to purchase the car for much less than they had planned. But eventually, someone jumps in at the last minute and things start moving again. Here we have started up again, and are at $175k.

: The bidding moved along again quickly to $240k, and then settled down again. Uh-oh…

: While this photo was also taken at $240k, the car eventually did bid to $255k, and was sold at that price. Now, when hearing these prices, you MUST take into account the “buyer’s premium” of 10%. So the buyer is actually paying $280,500 for this car. And there is also a 10% “seller’s fee”, so Shaun will take home $229,500. RM Auctions will take home $51,000 – NOT BAD! Maybe I should start Monocoque Metalworks Auctions!!!

: After the car sold, and we discussed the ins and outs of the sale and the market as a whole, we grabbed some cocktails, and then went back to perusing some of the cars on display – the very first of which was this black 1961 outside bonnet lock E-Type OTS to be auctioned off the follwing evening.

: This E-Type was also extremely well restored – I could tell that the RM offerings were a tick up from the E-Types we had seen earlier in the day.

: There’s nowhere to hide poor bodywork on a black car like this, but this E-Type didn’t need it – the paint and bodywork were excellent.

: The original welded-louver bonnet has the correct smaller mouth, and the shape is perfect! The following evening, this car sold for $400k!

: The interior was expertly re-trimmed in the original red leather.

: This must be an early feature that I’ll admit I was not aware of. The lower windshield chrome trim was VERY wide, AND had this clip connecting it to the A-pillar chrome.

: A flawless Ferrari Dino sat immediately next to it.

: And Then suddenly I noticed another beautiful Jag in the distance – this 1952 XK120 Fixed-head!

: It was neat to see bidders and guest casually sipping cocktails and resting next to million-dollar Ferraris!

: Excellence was everywhere – and the fit and finish of this Maserati was no exception!

: I really liked the silver top against the blue body – to be honest, I don’t really care for hardtops on most roadsters, it seems to take away from the lines of the car. But in this case, I believe it ACCENTUATES them!

: Venturing outside of the main room for another cocktail, I snapped this photo of a rare Aston Martin roadster.

: I like the stripe on this Ferrari – it is very typical of a paint scheme from when these cars were new, but most people are afraid to be so daring in a restoration.

: And then surprising (to me at least…) – another E-Type! Shaun said that this car was also well-built, but fairly priced at $200k, which is where this one sold.

: And off she goes to her new home!

: Finally, it was time to go home – I had been up for something like 21 hours by now (but was feeling GREAT, thanks to a sensory overload of incredible cars – AND the warm desert climate – AND a few cocktails! Here, we’re waiting for the valet to bring around Steve’s car. Unfortunately, this isn’t it…