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Sun 20 Oct 2019 12:22 PM

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Strong collector interest in F1 cars, supercars ahead of Abu Dhabi auction

RM Sotheby's first auction in the capital will feature Schumacher's $7.5m championship-winning Ferrari

Strong collector interest in F1 cars, supercars ahead of Abu Dhabi auction

Michael Schumacher's championship-winning 2002 Ferrari F2002

Supercars and F1 race cars that will be sold at the first ever RM Sotheby's auction in Abu Dhabi have received strong bidder interest from collectors in Asia, Europe, the Middle East, the UK and the US, a spokesperson told Arabian Business.

The auction in collaboration with the Formula 1 Etihad Airways Abu Dhabi Grand Prix 2019 is scheduled for November 30 and will feature over 40 cars including Michael Schumacher's championship-winning 2002 Ferrari F2002, which is the most valuable car on offer and carries a pre-sale estimate of $5,500,000 - $7,500,000.

“At this early stage, we’re already receiving strong bidder interest registered from collectors in Asia, the Middle East, Europe/UK, and the United States… Our team of specialists has been developing a strong collector and client base in the Middle East and Asia over the last few years, and we’ve received significant interest from both consignors and buyers in the region,” the spokesperson said.

Among the most valuable cars to be offered at the auction are:

  • 2017 Pagani Zonda Aether (estimate: $4,500,000 - $5,500,000)
  • 2011 Aston Martin One-77 (estimate: $1,500,000 - $2,000,000)
  • 2017 Ford GT (estimate: $750,000 - $900,000)
  • 1993 Jaguar XJ220 C (estimate: $900,000 - $1,200,000)
  • 1992 Benetton B192 (estimate: $825,000 - $1,100,000)
  • 2015 Mercedes-Benz G63 AMG 6×6 (estimate: $800,000 - $1,000,000).

RM Sotheby’s declined to disclose the overall estimated value of the auction, but said it will also showcase a selection of motorsport-related memorabilia.

The strongest interest from collectors has gone to modern classics, specially-optioned super and hypercars, and 1970s to 1990s Group B rally and GT1 homologation cars.

“Collector demand and tastes have shifted in recent years, with the strongest levels of interest and resulting prices currently attributed to modern classics, specially-optioned super and hypercars, and Group B rally and GT1 homologation cars of the 1970s to 1990s,” the spokesperson said.

“Best-of-category Formula 1 cars associated with top drivers, teams, and accolades have also drawn strong interest in recent years, and we believe they have an exciting future in terms of values,” the spokesperson added.

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