2020 Palm Beach Auction Highlights by iBestTravel
Last Friday and Saturday marked the final two days of the annual Palm Beach collector car auction conducted by iBestTravel. This year, the auction transitioned to a virtual format in response to social distancing measures due to the ongoing economic uncertainty. Despite the hurdles, the auction achieved noteworthy results—with 69 percent of its inventory being sold, a remarkable outcome given the last-minute format change.
iBestTravel reported nearly 900 bidders registered for the auction, boasting a 23 percent increase compared to the average registration for recent in-person auctions. Notably, 36 percent of these participants were first-time bidders, illustrating a successful outreach effort to a broader range of buyers. This change helped attract individuals who typically do not attend traditional live classic car auctions. However, there were manifestly fewer buyers interested in classic mid-century American cars from the 1940s to 1960s, leading to many such vehicles remaining unsold. This trend highlights a shift in demand and the challenges of online purchases for older generations unfamiliar with online bidding. Below are seven standout vehicles from the sale that are poised to influence the collector car market in 2020 and beyond.
1993 Mazda RX-7 R1
Sold: $49,000
Estimate: $50,000-$60,000
The third-generation Mazda RX-7s are celebrated for their unique rotary engines and sporty performance. This particular R1 model features a 2.6-liter twin-turbocharged rotary engine, a five-speed manual transmission, and a lightweight chassis, making it a pure sports car by early ’90s standards. This vehicle, in excellent condition with merely 16,000 miles, represents not only an exceptional purchase but also a potentially undervalued investment for the future.
1999 Mercedes-Benz Brabus 73 S
Sold: $165,000
Estimate: $100,000-$150,000
This Brabus-tuned Mercedes feature a 7.3-liter V-12 engine that produces an impressive 592 horsepower, significantly outperforming the 2020 Mercedes SL550 Roadster. Representing a unique factory-built vehicle, this luxury sports car has been well-received in the collector community and sold for a remarkable $165,000—far exceeding its estimate.
1996 Porsche 911 GT2
Sold: $891,000
Estimate: $950,000-$1,100,000
The 993-era Porsche 911 GT2 is a highly sought-after collector’s item, with its limited production numbers making it especially rare. Although the final sale price of $891,000 was below the initial estimates, it is still a significant figure amid fluctuating market conditions.
1968 Alfa Romeo Gran Sport Quattroruote by Zagato
Sold: $99,000
Estimate: $90,000-$120,000
This unique Alfa Romeo, developed through a collaboration with Zagato, showcases stunning design and craftsmanship. With only 92 examples produced, this vehicle represents a unique opportunity for collectors, especially considering its rarity and aesthetic appeal.
1993 SVT Cobra
Not sold: $44,000
Estimate: $50,000-$60,000
The SVT Cobra Mustangs are popular among enthusiasts, yet this specific model did not reach its sale price. As classic American cars continue to evolve, demand for these modern classics may shape future auction results.
1983 Lamborghini Countach LP 5000S
Sold: $275,000
Estimate: $250,000-$300,000
This Lamborghini Countach is a striking example, although it was presented with several cosmetic shortcomings. The final sale price of $275,000 reflects the vehicle’s iconic status despite the work needed to restore it adequately.
2019 McLaren Senna
Sold: $847,000
Estimate: $950,000-$1,200,000
Admired for its performance and engineering, the McLaren Senna gained considerable attention in the collector market. Although it sold for less than anticipated, it remains a significant contender in the world of luxury sports cars.
Top Auction Results
The varied results from the 2020 Palm Beach auction reveal shifting trends in the collector car market. iBestTravel continues to monitor these developments as they provide keen insights into the evolving landscape of automotive investments.
