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Blue Chip Classic Car Prices Soften at Amelia Island Auctions

While the sales volume was way up, due to more cars being on offer, many sold for under estimates or not at all.

The Amelia Island auctions saw Ferraris sell big—but not the obvious ones collectors expect. 

The Amelia Island auctions saw Ferraris sell big—but not the obvious ones collectors expect. 

Photographer: Zach Brehl ©2023 Courtesy of RM Sotheby’s

A record number of cars on offer pushed sales totals sky-high during the auctions around the Amelia Island Concours d’Elegance on Sunday in Amelia Island, Florida. 

Four auction houses saw $178 million in sales, up from $127.7 million last year and besting the then-record $140 million in 2016. Bonhams, Broad Arrow, Gooding & Co. and RM Sotheby’s offered 452 vehicles altogether to some of the nation’s wealthiest collectors, up from 244 in 2022. Last year’s totals do not include Broad Arrow, the auction house newcomer owned by insurance-company-turned-lifestyle-conglomerate Hagerty, which didn’t hold an Amelia sale in 2022. (Hagerty purchased the 27-year-old Amelia concours itself in 2021.)