Francisco Carrion
TEXT: FRANCISCO CARRIÓN / PHOTOS: RM-SOTHEBY'S (FEET J. ROMAGOSA)
The Anglo-American House RM-Sotheby's He had been announcing it with great fanfare for months: The largest auction of classic cars from a single collection ever seen in Europe was going to be held in Italy. 430 cars, 150 motorcycles, 60 racing boats, 117 bicycles and loads of automobilia and parts. And all this without reserve price!
And above all, the whole thing was surrounded by a certain curiosity. It was about the collection of Luigi Compiano, an Italian citizen who in 2010 had inherited an entire family emporium dedicated to private security. The company, which employed more than 700 people, had a debt of about 14 million euros with the Italian treasury, and the gossip spoke that the company's cash had disappeared as many millions.
Be that as it may, finally the Italian administration had to intervene by confiscating real estate, but also some personal items such as a collection of 469 miniature cars, 243 model trains ... or your collection of pornography, which included up to 2.187 DVD's and video tapes.
However, the most striking thing was the classic car collection proper auctioned by RM-Sotheby's during the show 'Autoclassica Milano', held between the 25th and 27th of last November, and which had also been confiscated.
American auction with almost 1.000 lots
The event was fully planned 'American style'; no carpets nor greater luxuries. Just an entire pavilion, adjacent to the one of the important Milanese hall, full of rows and rows of cars, motorcycles and boats; more than 100 trucks had to be used for its transport. Even the catalog (please take a look, it's colossal) it was fleeing from the luxurious editions that RM-Sotheby's has us used to, and this time it was little less than a newspaper full of photographs.
Among what was offered there were many certainly inexplicable repetitions. 21 units of Jaguar E-Type, four Rolls Royce Corniche, another four Maserati Ghibli or five Ferrari 250 of different series. But the palm took it your collection of Porsches, with more than 70 units.
Among them, five 356s, one 912, one 928, three 930 Turbos, two 944s, one 959, nine 964s, three 968s, eight 993s, seven 996s, five 997s, a Boxster, a Cayman and a 550 replica. Yes, you read correctly, there were up to 23 units of the 911, from different series.
Thinking that all this came from the same garage, and the fact that everything, absolutely everything, came out without a minimum price, filled the room during the three days that the auction lasted. At the highest prices, yes, there were no surprises: The "Top 1" was for the Ferrari 275 GTB / 6C 1966, as expected.
It was the first of only 7 produced with a 'long nose' and bodywork in aluminum. Furthermore, he had belonged to the same family for the past 36 years; At € 3.050.000 (excluding taxes), it has become the most expensive 365 GTB sold this year.
It was followed at a short distance by a modern Maserati MC 12 2004, topped at 2.700.000 euros, separate fees. The historic rivalry between the Ferrari F40 and the Porsche 959 was here resolved in favor of the first, sold for 920.000 euros compared to 900.000 for the 959. Of course, this has been the cheapest F40 of the six that have been sold at auction in 2016.
No reserve prices, scandal results
The general trend was, however, a few sale prices well above of what is estimated in the catalog. A 1930 Rolls Royce Phantom II, to restore, was estimated at about 15.000 euros, and was awarded at 65.000. An Alfa Romeo 6C 2500 from 1947, totally destroyed and with half the body missing, estimated at 7.000, lowered the hammer by 70.000 euros!
Many of the cars were in original condition, to restore, or with the work half done, and yet they reached prices equivalent to those of units in perfect condition.
As good examples of this we have the totally disassembled Maserati 3500 GT Coupé, estimated at around 40.000 euros and awarded at 120.000, a 508 Fiat Balilla 1935 S Aerodynamic, original and without an engine that reached 160.000, or a dusty Mercedes-Benz 300 E AMG 1988, whose bids rose no less than 84.000 euros!
To conclude, other shocking figures offered by this auction: The total volume of business was of 51,26 million euros, which was reached after 30 grueling hours of auction spread over three days. The bids came from 57 different countries, and more than 5.000 people attended the event 'in situ'. And what about the 25.000 catalogs that were printed?
In short, it is the crazy world of classic car auctions, in which we believed that the bubble had already burst.
