April and May is a wonderful time for car enthusiasts. We’re all dusting off our cars and getting ready for Spring drives and car shows. The market also picks up, with buyers seeking new acquisitions to enjoy as the driving season begins. May is also a fun month for Formula 1 fans, with the glitzy Miami and Monaco grands prix sandwiching the first of 2 races in Italy.

In terms of auction action, Bonhams is hosting a very special live auction on the grand prix track in Miami that is sure to be a spectacle. Additionally, RM Sotheby’s and Bonhams have traditionally held their exciting Monaco auctions in May. In today’s Market Monday, I’ll preview a handful of lots that I find interesting and share my thoughts on the house estimates given today’s market.

Bonhams: The Miami Auction

First up on May 4th is Bonhams’ Miami Auction, which coincides with qualifying day of the Formula 1 Crytpo.com Miami Grand Prix in Miami, Florida. The auction description for the event promises approximately 25 supercars and legendary Formula 1 race cars will cross the block on the circuit at the Miami International Autodrome. I was fortunate to attend the inaugural Miami GP in 2022 and had a spectacular time.

Since then, the race has grown and Miami’s role as a center of car culture has increased. All of the cars consigned to date are stunning with more to come. A couple of attractive Germans stuck out among all the Italian beauties.

It might seem strange for Wolf and Mare to feature a French make when our specialty is German cars, but modern-day Bugattis are designed and manufactured by Volkswagen so we think that qualifies!

This 2019 Bugatti Chiron presents quite beautifully with its Glacier white paint on its forward surfaces nicely emphasizing the dramatic c-shaped side intakes. The Turquoise Carbon bodywork covering the remainder of the exterior is exquisite.

The tasteful spec carries to the interior, where a spartan but elegant cockpit is draped in sumptuous light blue and gray leather. 

To be surrounded by such luxurious appointments in a car capable of reaching speeds of 250MPH must be a truly special experience. With only 1,3000 miles, this Bugatti is barely broken in. While there’s no stated estimate, the last Bugatti at auction was on Bring A Trailer of all places and sold for just over $3 million.

We’re frankly quite surprised to see this car is for sale at a major auction house, rather than selling privately between collectors. This particular BMW is special indeed, having been one of a trio of cars specially prepared for racing in the late 1930s.

After successes at Le Mans and the 1939 Litoranea Libica, the three cars disappeared. This BMW 328 Competition Racer, wearing number 27, was missing until it was discovered in 2017 and fully restored to race configuration. It debuted at 2022’s Pebble Beach Concours d’Elegance and won 3rd in class.

Amazingly, this car was a no-sale at RM Sotheby’s Monterey auction in 2023. We’re unsure of the Bonhams estimate as they don’t state it, but the car was bid to only $1.6M with an estimate in the $1.9-2.9M range. Since it still hasn’t found a buyer, we hope the reserve has been lowered a bit as it’s a truly beautiful car. We’ll say it: perhaps its close connection to Hitler’s Germany holds it back?

Bonhams and RM Sotheby’s always tease out some truly remarkable consignments for their Monaco Auctions in May, and this year doesn’t disappoint. As the events are only a couple of weeks before the Formula 1 Monaco Grand Prix, race cars are a consistent theme. RM Sotheby’s arguably has the better German enthusiast lots, but Bonhams has some gems.

If there’s a Sport Quattro in an auction, I’ll be watching. While I prefer the road-going spec of these Group B monsters, they truly do impress when in sponsor livery or full rally spec. This car was entered into the 1986 Rally de Portugal by none other than Walter Röhrl. An impressive list of incredible Rally driving royalty have been at the wheel of this car, making it a dream acquisition for many collectors. Given its history, I think the estimate of €500-700,000 EUR is conservative.

It would seem the Europeans appreciate Audi far more than Americans. Perhaps it’s due to Audi’s dominance in Touring Car Championships and Le Mans, races that Americans don’t typically watch in the same numbers. This car was piloted by World Sports Car Champion Hans-Joachim Stuck in a number of races in the 1992 season.

Guided at €750K-1M EUR, an astonishing amount for something other than a Porsche or F1 car, I’m a little dubious, and I love Audi. Still, it’s nice to see Audi representation at the Monaco auctions.

Did you know the iconic Porsche 917 was raced in the 80s? You’re forgiven if you didn’t, as neither did I! This 917 on auction at RM Sothebys Monaco sale is the last factory-sanctioned 917 built and the last to compete at Le Mans. The history file on the lot description is truly impressive, so I suggest you dig in with a cup of coffee and enjoy the history lesson. Estimated at €3.5-5M EUR, we think this car could go higher, given its race history and “last of the…” status.

As a fan and owner of the model, I have to mention at least one 356 in an auction round-up. Carrera Speedsters are rare and Pre-A Carrera Speedsters are even more so. Only 15 were made, and while this 356 Speedster is not in its original colors and doesn’t have its original engine (what race car does?), it’s a beautiful black over black example with a wonderful race history. Estimated at a reasonable €850-950,000 EUR, we’re betting this one will find a home.

Presented in a striking combination of Amethyst Metallic over Violet interior and a violet convertible top, this 964 model Porsche 911 sure catches the eye. “WTL” in Porsche parlance signifies it’s a Werks Turbo-Look car, likely one of 700 or so built. While Cabriolet 964s are among the cheapest, we hope this gorgeous triple violet car brings big money. It’s guided at €125-150,000 Euros, so Bonhams is also bullish on this beauty.

At the risk of sounding out of touch, 2.7 Carreras kind of bore me. They’re the blue chip Porsche everyone accepts as one of the most desirable cars to come out of Stuttgart, and they are. But I like weird stuff and 2.7 RS’s aren’t weird. Regardless, they are a market index so I feel compelled to include it. Guided at €380-€450,000 EUR, this one is estimated right where it should be, in my opinion. Let’s hope she finds a new steward.

While I have said I’d never personally purchase a Smart Fortwo, this car’s history has me questioning my stance. Owned by Sir Roger Moore, this car was his city conveyance while in Monaco. If you want to be like Bond, this Daimler-Benz produced jitney will in no way do that without explanation. That said, given the love for all things celebrity owned, I expect bidding will exceed the estimate of €5,000-8,000 Euros. Mark my words.

I would be remiss if I didn’t mention the staggeringly impressive collection of cars being sold by RM Sotheby’s on behalf of former Formula 1 racer and World Champion Jody Scheckter. Feast your eyes on the copious race history on offer over at RM Sotheby’s auction catalog.

Who among the well-heeled wouldn’t jump at the chance to acquire a Tyrrell Six-Wheeler!? The rest of us will be purchasing lotto tickets ahead of these spectacular Miami and Monaco auctions.

Wolf and Mare provides appraisal services for sellers and buyers of collector European cars. If you’re interested in acquiring a professional appraisal, give us a call or drop a line!