Over the past year, Bonhams has been struggling a bit. It has often run great cars at its sales, but it seems the company has been struggling to find buyers. This is surprising to me because Bonhams has some of the best customer service in the entire boutique auction space. It has always gone out of its way to make everyone who comes to its sales feel welcome and part of the family. This is a single point of difference for Bonhams that is hard to replicate as it comes directly from the company’s culture.
One of the big reasons for the troubles is that several of the top specialists at Bonhams have moved to other companies. This includes people at the top, such as Malcolm Barber and Jakob Greisen.
On a more positive note, Bonhams has made a number of new hires and the specialists I encountered were excellent at their jobs. In addition, former Bonhams employee Nick Smith, the founder of Bonhams’ motorcycle auctions in the U.S., has come back. I think these new hires and rehires, combined with changes in the auction schedule (eliminating the Amelia Island event), will help bring Bonhams back to the market in a big way. Things like this take time. I anticipate the fruits of its labors will pay off by the time Monterey Car Week 2025 rolls around.
During Bonhams’ The Scottsdale Auction this past week, the auction house fielded a number of exceptional cars, with everything from multi-million-dollar Ferraris and Mercedes-Benzes to entry-level cars. Let’s go through my list of the top five cars offered at the sale.
1. 1967 Mercedes-Benz 250SL
This car was an absolutely stunning restoration of a W113 Pagoda Mercedes SL. The color was changed from white to a light metallic green; the cabin had the correct tan leather upholstery. Every detail of this car’s restoration was absolutely perfect, from the carpets and interior to the notches on the hood where the headlights are mounted. It sold for an incredibly reasonable $134,400 and will provide enjoyment to the new owner for years to come.
2. 1987 Nissan Skyline “Type HR31” GTS-R NISMO Group A
While this car might not mean much to older collectors, to those younger enthusiasts who grew up playing Gran Turismo (yes, I’m talking about you, Tyson Hugie), this car is a very big deal. These Skylines literally dominated Group A racing in Japan and caused the heads of the people on Toyota’s racing team to explode. The reason the Nissan Skyline is as popular as it is today is because of what these cars did on the track. What makes this specimen extra special is the Calsonic livery, which is original to this car – the first one to wear this livery. It is iconic not only because of the great success the Calsonic Nissans had, but also because this exact car was available in the best-selling video game Gran Turismo. It sold for a very fair $201,600. I think that was a very good buy; I would not be surprised to see this car worth $500,000 in the next five years.
3. 1956 Austin-Healey 100-4 BN2
This Austin-Healey 100 was a great example of the best of the “Big Healey” cars in true sports car form, not the heavy car that the Healey became with the 3000 series. This vehicle was finished in Old English White over a tan leather interior, had great panel fit and all the details right, and looked and sounded ready to drive in a classic car rally. I guarantee that the $56,000 price of this car is a fraction of what it cost to restore. What a great buy.
4. 2005 Aston Martin Vanquish S
In the world of supercars, the Aston Martin Vanquish has been and continues to be an absolute bargain. These were the last hand-built Astons from the old Newport Pagnell factory and are as stunning to look at as they are to drive. The V12 under the hood sounds better than just about any other modern V12 on the planet. Inside, these Astons are as luxurious as you would expect them to be, with one of the most beautiful modern gauge clusters ever designed. This Vanquish S sold for a very fair $61,600 – less than half of its original retail price. I still think that the world will wake up and see what a value these cars are, which will cause their prices to rise.
5. 1967 Lamborghini Miura P400
This last car is an example of how not to sell your car at auction. The owner spent three days lurking next to his car during the auction preview and talking about his car to anyone who would listen. He would not allow anyone to touch it, he would not let any of the Bonhams staff touch or start it, and he had a completely crazy idea of what his car was worth. The pre-sale estimate was an astronomical $2.2-2.8 million. There were bidders for this car in the room who bid it up to a market-correct $1.8 million, but the owner refused to sell. The worst parts are that anyone interested in the car now knows that the owner has put an unrealistic price on it and that data of the high bid is out there for the world to see. It was a nice car, but owned by someone who seemed as if they did not want to sell it.
Yes, Bonhams’ numbers were less than amazing, but it did bring good cars to Arizona and sold a few of the high-dollar ones, including the 1956 Mercedes-Benz 300SL for a strong $1.49 million. I honestly think that Bonhams is on track to surprise us this year. I wish the people there the best in 2025.
