Strong Results at The Dare to Dream Collection Sale
Sean Rooks | June 3, 2024

It’s amazing how many collector car auction sales events there are during the course of the average year. When considering only the big houses, the count stands somewhere around 90 auction events (including online auctions but excluding online platforms such as Bring a Trailer). As we continue the march toward the spectacle that is Monterey in August, auctions like the Dare to Dream Collection Sale fill the void.
The Dare to Dream Collection Sale

On May 31-June 1, RM Sotheby’s held their Dare to Dream Collection Sale. The collection comprises 30 years of acquisitions by its owner, Canadian billionaire Miles Nadal. Much of the collection is housed at a 17,000 square foot exhibition space in Toronto, which also served as the venue for the sale. Proceeds from the sneaker sale will benefit the Dare to Dream Foundation supporting underprivileged children while the vehicle earnings will be earmarked for various causes.
Motorcycles and motorcars made up 99 of the total auction lots that also included a plethora of automotive memorabilia and an impressive sneaker collection. Of note was that this was a no reserve auction for all lots, meaning there was no bidding threshold and the highest bid took the item home. Naturally, the sell-through rate was 100%.
Not a Fire Sale
Interestingly, and perhaps owing to the name recognition and bidding excitement that the sale of a well-known collection brings, there weren’t any real bargains at this sale. Most of the vehicles were in fantastic condition and performed well against not only the auction house’s estimates but also current market values. We’re highlighting the biggest winners from Stuttgart below.

In a perfectly 1980s color combination of Grand Prix White over Velvet Red, this 1989 Porsche 911 Turbo was treated to “slant nose” Sonderwunsch treatment at the factory. In nearly new condition and an odometer reading a scant 895 miles, this car sold for what may be a world-record $500,000.

Porsche’s first real supercar, the 959 is legendary enough to need no introduction. This example has a well-detailed history of ownership after its importation and federalization in 1992. Canepa maintained the car for years, and after its acquisition received a sympathetic refurbishment, including many upgrades to make the car even more usable. The sale price of $1.68 million is just over the high estimate from RM Sotheby’s yet way under the $3.1 million Canepa-restored Porsche 959 that Broad Arrow sold at Amelia Island back in March.

Color can really move people, and this Porsche 356 Speedster’s finish of Aquamarine over tan must have made an impression. It’s being one of the finest Speedsters I’ve seen at auction in 2024 probably didn’t hurt either. This lovely car hammered at $500,000, or about $125,000 over the value a 1600cc “Normal” car in today’s market. It’s nice to see a Speedster sell for strong money.

The celebrity ownership of this car kind of flew under the radar. Previously owned by Jerry Seinfeld, this Silver Metallic over Marine blue 911 Speedster sold for $307,000. By my data, that’s about $50k over a similar 911 Speedster in the same condition. Not a record sale by any stretch, but still strong.

It seemed that many of Nadal’s Porsches wore sedate colors like silver and black. This is yet another example, but like Carrera GTs the Porsche 918 Spyder market has gone absolutely bonkers over the last few years. While it was In nearly-new condition, the car had racked up 2,184 miles and had a Weissach carbon fiber rear diffuser fitted after purchase by the consignor. When the hammer dropped, the price was $1,875,000 including buyer’s premium, which is just over the high estimate from RM Sotheby’s and well over the current market value.

Another exceptional car in the Dare to Dream Collection sale is this magnificent 1959 Mercedes-Benz 300 SL Roadster. Painted from the factory in an achingly beautiful combination of rare Light Blue over a red interior, this car’s condition justified its final hammer price of $2.1 million. This is well over the average value for an SL Roadster and handily bested the sale price of the other 300 SL in the collection—a Gullwing coupe which hammered for “only” $1.65 million.
Final Thoughts
This was an interesting one, folks. As noted in previous Market Monday reports, listing a single vehicle—let alone a significant number of cars from a collection—at no reserve in today’s market is definitely a risky proposition.
The excellent condition of the cars, status as artifacts from a known collection and ownership by a well-regarded collector likely boosted bidding. Given the desire to dramatically reduce the size of the collection and the intended charitable use of the proceeds, a no reserve auction certainly simplified the sale for the consignor.
Congratulations to RM Sotheby’s and Miles Nadal on their success. Have a great week, everyone.
Wolf and Mare provides car finding, appraisals, and auction services for buyers and sellers of collector European cars. If you’re interested in acquiring an overseas car, give us a call or drop a line!