RM Sotheby’s visited Milan for its latest sale on 21-22 May, ahead of this year’s Villa d’Este concours, achieving a total of €16,457,000 and delivering a handful of exceptional results – most notably a world record figure for a Countach 25th Anniversary. Yet the event also underscored the volatile nature of today’s market, with several significant entries failing to sell and others trading below expectations.
Staged at the Fonderia Macchi Carlo, a disused factory turned fashion venue an hour from Lake Como, the headline results were lead by a 1971 Lamborghini Miura P400 SV by Bertone, which sold for €3,942,500 – exceeding its €3.2m estimate. The restored, US-delivered example retained its original 3.9-litre V12 and had previously won Best Lamborghini at Concorso Italiano.
Another strong performer was the 1989 Ferrari F40, chassis 80763, which brought €2,817,500. One of the desirable ‘non-cat, non-adjust’ early cars, it had been restoredby Zanasi and Bonfatti in 2021 and carried Ferrari Classiche certification. A matching-numbers example with just 17,300km, it underscored sustained demand for high-quality F40s.
However, it was the 1989 Lamborghini Countach 25th Anniversary Edition that really performed, smashing its €450k-650k estimate to realise €1,130,000 – a new auction record for the model. Finished in black over beige and retaining single-family Italian ownership since 2004, it was an unusually original and well-preserved example with only 12,433km.
Further success came for Lamborghini’s limited-production Reventón Roadster, which achieved €1,580,000, and a 1987 Porsche 959 ‘Spyder’ conversion that fetched €1,298,750 – close to its upper estimate.
But not all was plain sailing. Several high-profile cars failed to meet reserve, including a 1932 Alfa Romeo 8C Lungo Cabriolet by Pinin Farina (bid to €3.1m), a 1962 300 SL Roadster (€1.5m), and a 1969 Ferrari 365 GTC (€550k against a €650k-750k guide). Even the 1930 Alfa Romeo 6C Gran Sport Spider Zagato failed to entice a winning bid.
The risks of selling at no reserve were laid bare with the 1997 Porsche 993 GT2 R. Estimated at €500k-700k, the full-race car changed hands for just €201,250. Re-shelled after a major crash at Assen in 1999 and fitted with a non-original engine of undocumented provenance, it was a tricky proposition at auction.
Several other racing entries failed to sell, including the 2008 Aston Martin DBR9 GT1 (bid to €1.1m) and the 2001 McLaren MP4-16 once raced by Coulthard and Häkkinen. The Aston’s estimate of €1.5m-1.8m looked optimistic given its modest competition history and substantial crash damage early in life. Among the few successful racers was a 2007 Aston Martin DBRS9, which sold mid-estimate for €286,250.
Among Mercedes-Benz models, just two of five lots found new homes. A 1954 300 SL Gullwing changed hands for €1,298,750, while the rarer 1956 Gullwing and 1962 300SL Roadster each stalled at €1.5m. Notably, the 2006 CLK DTM AMG Roadster did sell, fetching €370,625 against a €375k-425k estimate.
A handful of lots outperformed expectations, including the 1965 Aston Martin DB Short-Chassis Volante (€770k, est. €675-725k), and a 1985 V8 Vantage that more than doubled its lower estimate at €280,625. Meanwhile, a 1995 Ferrari F355 Berlinetta once owned by Michele Alboreto achieved €166,750, just above its lower guide.
For the full results, see rmsothebys.com
