Still on a high after watching an exciting Formula One race at Imola this morning, I pulled up to my desk to write today’s article with both Italy and motorsports very top of mind. Fortunately, RM Sotheby’s is hosting a banger of an auction featuring a number of beautiful race and road cars — all taking place in the fashion capital of Italy. Today’s Market Monday will preview RM Sotheby’s Milan Sale, including one Lancia Delta integrale 8v that could be a record-setter.

RM Sotheby’s continues to impress with its flexibility and willingness to experiment with new and dynamic sales events. This year, the auction house is hosting its first-ever Milan event. Held at the usually fashion-centric Fonderia Carlo Macchi, the sale features 38 vehicle consignments ranging from blue-chip classics to trophy-winning motorsports icons.

Yours truly has been blessed with having owned a road-going homologation Lancia Delta integrale and interestingly, mine was also a 1989 model. While these cars live up to the hype, my 16V couldn’t hold a candle to this car, which is a genuine rally-raced 8-valve integrale with a winning history. Raced in-period by the great Miki Biasion, this car secured two trophies for Biasion in the 1989 season, ultimately helping him and his co-driver Siviero Tiziano to a WRC driver’s championship win. The Lancia Delta integrale is famously the winningest car of all time, securing 6 consecutive constructor’s championships from 1987-1992.

The auction catalog description is intentionally coy and doesn’t name names, but apparently the consignor for this exceptional example of rally history is himself a former Group B rally driver. For those who know the secret, that information may drive some high bidding.

The last works-prepared Lancia Delta integrale to sell at auction for over $200,000 was this example raced to victory by Carlos Sainz, Sr. That car hammered for $426,320 in today’s dollars back in 2022. The RM Sothbey’s consignment is estimated at €485-550,000, which it could certainly bring given the venue. I’ll be watching this one very closely.

Since I’m a relatively new fan of Formula 1 (thankfully my fandom predates the Netflix series), my knowledge of F1 racing prior to the current hybrid era is pretty limited. One thing I do know is that I thoroughly enjoy David Coulthard’s commentary on F1TV. With 13 grand prix victories under his belt, he knows a thing or two about racing. This car is a genuine trophy-winning Formula 1 car piloted by Coulthard in the 2001 Austrian Grand Prix.

Sadly, this car is fitted with a dummy engine instead of its Ilmor-designed Mercedes-Benz V10 screamer. It’s estimated at €1.4-1.5M. This car failed to sell at RM’s Munich sale back in 2022 where it was bid to nearly $1.5M. Maybe McLaren’s current success in 2025’s season will boost interest in this beauty.

While this car doesn’t have quite the star power or victorious history as the previous two cars, it’s nonetheless an impressive specimen with numerous GT racing glass wins for Freisinger Motorsport. One of the most enticing aspects of this car’s history is its striking toothed front-end livery, though it has been stripped back to a base white. Unlike one of the cars above, this car isn’t really the kind that you buy to stuff in a glass box, but a good candidate vehicle for someone interested in participating in historic racing events. Estimated at €300-500,000, I’m a bit skeptical it’ll reach those heights, but we shall see what happens on Thursday.

While I’ve singled out a few race cars that caught my eye due to their impressive provenance, RM Sotheby’s Milan Sale also offers quite a few impressive road cars as well: 

1954 Mercedes-Benz 300SL Gullwing
1956 Mercedes-Benz 300SL Gullwing
1962 Mercedes-Benz 300SL Roadster
1956 Maserati A6G/54 Coupe
1989 Ferrari F40
1971 Lamborghini Miura P400SV

Race cars are quite difficult to value. There are fewer completed sales on the open market to use as comparables, plus the desirability is driven significantly by its provenance, which can vary greatly. Based on the estimates, I think RM Sotheby’s has estimated its cars based on prior results and the hope that the European economy is on a slow upswing. In their favor, recent positive economic news on the Continent may help to loosen up a few wallets.

Since none of these cars are within my reach, my personal favorite vehicle from the show is this little 1967 Autobianchi Bianchina Furgoncino. It’s estimated at €30-40,000, but is the only other car offered at no reserve (aside from the Lamborghini Miura) and could sell for a song. I’m a fan of working vehicles, and this little Castrol-themed van would be a charming little car to add to a collection.

Have a great week, everyone!

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!
The opinions shared above do not represent financial or investment advice.