Duemila Ruote – Two Thousand Wheels or… Happy Days are Here Again!

This started the way a lot of magnificent obsessions do: “There was this car.”

That sentiment motivated Fritz and Hans Schlumpf, the French textile manufacturers who collected a few dozen Bugattis and then a few hundred other cars as well in the 1950s and 1960s. With financing and tax breaks from the French government to help them compete against Asian textile mills, they took advantage of a little “bridge financing” to acquire cars. The Schlumpfs stopped paying their employees. When the brothers stopped paying their taxes, that was another matter altogether. When the government learned of the deception in the late 1970s, it seized the collection and ultimately during the 1980s, it opened as one of the world’s largest and most interesting auto museums.

It seems history does repeat itself because in Treviso, Italy, brothers Umberto and Luigi Compiano, founders of a conglomerate of service companies called NES – North East Services – took some of their bank financing and began gathering automobiles. About 430. And bicycles, 117 of those. And 60 speedboats and racing hydrofoils. And 150 motorcycles. Oh yeah, and 469 model cars, 243 model trains, and a collection reported to number 2,187 DVDs and videotapes of pornography. Turns out the Compianos mostly continued paying their employees (some 700 of them) but that tax thing… Apparently that bill ultimately reached €14 million.

NES and its collection of companies now are in receivership and Italy, unlike France in the late 1970s, has neither the resources nor the interest to open a Museu Compiano (truly few of the cars or other objects are museum quality) and so an auction took place on the last weekend of November to sell off the assets. The popular saying applies here: Everything must go. RM Sotheby’s won the contract to handle the auction (though even this was not without drama that delayed the sale date for months) and, in accordance with the demands of the government and the banks, all lots are offered without reserve. Conservative estimates suggested the three-day sale will bring in excess of €30,000,000. The actual results were far better. And quite startling. The treasury got its due first and the creditors split what remains. While many of the objects on offer are, let’s say, incomplete, there are enough vehicles to tantalize a buyer, should he or she happen to have been in Milan that weekend for the annual Milano AutoClassica.

There were countless Ferraris – many without engines or running gear but some complete. The same applied to Maseratis, Lamborghinis, Alfa Romeos, Lancias, Jaguar E-types and earlier XKs, Aston Martins, Mercedes-Benzes, Bentleys, and Rolls-Royces, as well as the odd Corvette, Ford Thunderbird, and Mustang. There were innumerable racing and rally cars (though whether real or replica is unknown). In some cases, the suggestion “Bring a trailer” was prudent. In other cases, a wheelbarrow might have been more appropriate. The familiar term Caveat Emptor is Latin. In Italian, “buyer beware” is Compratore stai attento! Still, that seemed not to matter. The auction hall was swarmed with the largest crowd of registered bidders anyone ever had counted. It was as though everyone wanted some souvenir of this escapade. Or the government had waived the Value Added Tax for the day. The former explanation is more likely.

We have listed the Porsches and a few other highlights below. The sale results are below or can be seen at www.RMSothebys.com. To suggest RM, the Italian provincial government, and the creditors were pleased with the result may be understatement. Total sales reached €51.26 million. (The exchange rate on the day of sale was $1.06 to €1.00.)

RM Sotheby’s

Duemila Ruote (Two Thousand Wheels sale)

FIERA MILANO (in a dedicated hall inside Milano AutoClassica
SS.33 del Sempione 28, 20017 Rho (MI), Italy

Friday through Sunday, 25-27 November 2016

Friday, 25 November lots

• Lot 218 – 1970 Porsche Typ 911T 2.2. Project car – Without reserve – Estimate: €2,500-5,000 – Sold for €20,160
• Lot 221 – 1986 Porsche Typ 911 Carrera 3.2 coupe – Without reserve – Estimate: €30,000-35,000 – Sold for €45,920
• Lot 228 – 1967 Porsche Typ 911 S 2.0 Project car – Without reserve – Estimate: €2,500-5,000 – Sold for (wait for it!) €72,800
• Lot 232 – 1970 Porsche Typ 911S 2.2 Modified – Without reserve – Estimate: €5,000-7,500 – Sold for (wait for it!) €33,600
• Lot 233 – 1998 Porsche Typ 986 Boxster – Without reserve – Estimate: €5,000-10,000 – Sold for €13,440
• Lot 242 – 1974 Porsche Typ 911 S. 2.7 Modified – Without reserve – Estimate: €15,000-20,000 – Sold for €67,200
• Lot 243 – 1986 Porsche Typ 911 Carrera 3.2 Targa – Without reserve – Estimate: €35,000-40,000 – Sold for €64,950
• Lot 253 – 1992 Porsche Typ 968 Cabriolet – Without reserve – Estimate: €15,000-20,000 – Sold for €32,480
• Lot 254 – 1990 Porsche Typ 944S2 Cabriolet – Without reserve – Estimate: €5,000-10,000 – Sold for €28,000
• Lot 260 – 2006 Porsche Cayman S Rally – Without reserve – Estimate: €15,000-20,000 – Sold for €47,040
• Lot 262 – 1988 Porsche Typ 930 Turbo 3.3 – Without reserve – Estimate: €55,000-65,000 – Sold for €112,000
• Lot 267 – 1985 Porsche Typ 911 Carrera 3.2 Cabriolet – Without reserve – Estimate: €35,000-40,000 – Sold for €84,000
• Lot 271 – 2003 Porsche Typ 996 Carrera 4S – Without reserve – Estimate: €35,000-40,000 – Sold for €49,280
• Lot 274 – 2004 Porsche Typ 996 Carrera 4S Cabriolet – Without reserve – Estimate: €35,000-40,000 – Sold for €50,400
• Lot 283 – 1966 Porsche Typ 912/5 – Without reserve – Estimate: €10,000-15,000 – Sold for €44,800
• Lot 286 – 2008 Porsche Typ 997 GT3 Cup – Without reserve – Estimate: €45,000-55,000 – Sold for €78,400
• Lot 293 – 1963 Porsche Typ 356C Karmann Coupe – Without reserve – Estimate: €35,000-40,000 – Sold for €84,000
• Lot 294 – 1986 Porsche Typ 930 Turbo 3.3 – Without reserve – Estimate: €65,000-75,000 – Sold for €95,200
• Lot 298 – 2002 Porsche Typ 996 GT2 – Without reserve – Estimate: €100,000-120,000 – Sold for €145,600
• Lot 299 – 1990 Porsche Typ 964 Carrera 4 Cabriolet – Without reserve – Estimate: €35,000-40,000 – Sold for €67,200
• Lot 306 – 2007 Porsche Typ 997 GT3 RS – Without reserve – Estimate: €155,000-175,000 – Sold for €212,800
• Lot 307 – 1989 Porsche Typ 911 Carrera 3.2 Speedster – Without reserve – Estimate: €130,000-150,000 – Sold for €280,000
• Lot 313 – 1953 Porsche Typ 356 1100 coupe – Without reserve – Estimate – €15,000-20,000 – Sold for (wait for it!) €133,280
• Lot 320 – 2007 Porsche Typ 997 GT3 Cup – Without reserve – Estimate: €45,000-55,000 – Sold for €78,400
• Lot 322 – 1966 Porsche Typ 911 2.0 – Without reserve – Estimate: €80,000-90,000 – Sold for €145,600
• Lot 325 – 1973 Porsche Typ 911S 2.4 – Without reserve – Estimate: €110,000-130,000 – Sold for €184,800
• Lot 331 – 1993 Porsche Typ 964 Turbo 3.6 – Without reserve – Estimate: €130,000-150,000 – Sold for €218,400
• Lot 332 – 1995 Porsche Typ 933 Carrera RS – Without reserve – Estimate: €160,000-180,000 – Sold for €341,600
• Lot 333 – 2004 Porsche Typ 996 GT3 RS – Without reserve – Estimate: €130,000-150,000 – Sold for €201,600
• Lot 334 – 1992 Porsche Typ 964 Carrera RS – Without reserve – Estimate: €110,000-130,000 – Sold for €313,600
• Lot 336 – 1976 Porsche Typ 930 Turbo 3.0 – Without reserve – Estimate: €55,000-65,000 – Sold for €128,800
• Lot 337 – 1990 Porsche Typ 964 Carrera Targa – Without reserve – Estimate: €55,000-65,000 – Sold for €84,000
• Lot 348 – 1966 Porsche 911 2.0. Modified – Without reserve – Estimate: €5,000-10,000 – Sold for (wait for it!) €44,800
• Lot 363 – 1971 Porsche Typ 911 S 2.2 – Without reserve – Estimate: €10,000-12,000 – Sold for (wait for it!) €117,600
• Lot 366 – 1974 Porsche Typ 911 2.7. Modified – Without reserve – Estimate: €5,000-7,000 – Sold for (wait for it!) €39,200

Saturday, 26 November lots

• Lot 510 – 1977 Porsche Typ 911 3.0 – Without reserve – Estimate: €20,000-30,000 – Sold for €53,760
• Lot 524 – 1963 Porsche Typ 356C 1600 coupe – Without reserve – Estimate: €45,000-55,000 – Sold for €69,440
• Lot 525 – 1989 Porsche Typ 911 Carrera 3.2 – Without reserve – Estimate: €20,000-30,000 – Sold for €85,120
• Lot 538 – 1983 Porsche Typ 911 SC 3.0 Cabriolet – Without reserve – Estimate: €20,000-30,000 – Sold for €67,200
• Lot 542 – 2002 Porsche Typ 966 Targa – Without reserve – Estimate: €40,000-45,000 – Sold for €44,800
• Lot 545 – 1995 Porsche Typ 993 Carrera 4S – Without reserve – Estimate: €65,000-75,000 – Sold for €156,800
• Lot 546 – 1996 Porsche Typ 993 Carrera S – Without reserve – Estimate: €80,000-90,000 – Sold for €112,000
• Lot 556 – 1973 Porsche Typ 911 S 2.4 – Missing significant parts – Sold for €72,800
• Lot 558 – 1989 Porsche Typ 964 Carrera 4. Modified – Without reserve – Estimate: €30,000-35,000 – Sold for €78,400
•  Lot 562 – 1977 Porsche Typ 911 Carrera 3.0 – Without reserve – Estimate: €55,000-65,000 – Sold for €80,640
• Lot 570 – 2002 Porsche Typ 996 GT2 – Without reserve – Estimate: €130,000-150,000 – Sold for €190,400
• Lot 591 – 1996 Porsche Typ 993 Carrera Cabriolet – Without reserve – Estimate: €55,000-65,000 – Sold for €95,200
• Lot 592 – 1996 Porsche Typ 993 Carrera Targa – Without reserve – Estimate: €65,000-75,000 – Sold for €78,400
• Lot 593 – 1993 Porsche Typ 964 Carrera 2 Cabriolet “Turbo Look” – Without reserve – Estimate: €65,000-75,000 – Sold for €145,600
• Lot 600 – 2005 Porsche Typ Carrera GT – Without reserve – Estimate: €650,000-800,000 – Sold for €761,600
• Lot 620 – 1971 Porsche Typ 911S 2.2 – Without reserve – Estimate: €45,000-55,000 – Sold for €112,000
• Lot 635 – 1987 Porsche Typ 911 Carrera 3.2 Cabriolet – Without reserve – Estimate: €45,000-55,000 – Sold for €95,200
• Lot 639 – 1964 Porsche Typ 356C 1600 coupe. Race prepared – Without reserve – Estimate: €10,000-15,000 – Sold for (wait for it!) €69,440
• Lot 656 – 550 Porsche Spyder replica chassis and body only – Without reserve – Estimate: €5,000-10,000 – Sold for €39,780

Sunday, 27 November lots

• Lot 834 – 1982 Porsche Typ 928S – Without reserve – Estimate: €5,000-10,000 – Sold for €16,800
• Lot 849 – 1973 Porsche Typ 911S 2.4 – Without reserve – Estimate: €35,000-40,000 – Sold for €100,800
• Lot 853 – 1995 Porsche Typ 993 Carrera RS – Without reserve – Estimate: €65,000-75,000 – Sold for (wait for this!) €280,000
• Lot 857 – 2008 Porsche Typ 997 GT2 – Without reserve – Estimate: €155,000-175,000 – Sold for €257,600
• Lot 866 – 1997 Porsche Typ 993 Turbo – Without reserve – Estimate: €80,000-90,000 – Sold for €168,000
• Lot 867 – 2007 Porsche Typ 997 GT3 – Without reserve – Estimate: €90,000-105,000 – Sold for €145,600
• Lot 875 – 1988 Porsche Typ 959 Komfort – Without reserve – Estimate: €600,000-700,000 – Sold for €1,008,000
• Lot 882 – 1963 Porsche 356B 1600 coupe – Without reserve – Estimate: €65,000-75,000 – Sold for €100,800
• Lot 885 – 1990 Porsche Typ 964 Carrera coupe – Without reserve – Estimate: €10,000-15,000 – Sold for €42,560
• Lot 886 – 1993 Porsche Typ 968 Club Sport – Without reserve – Estimate: €30,000-35,000 – Sold for €72,800
• Lot 888 – 1998 Porsche Typ 996 Carrera Cabriolet – Without reserve – Estimate: €20,000-30,000 – Sold for €33,600
• Lot 896 – 1996 Porsche Typ 993 GT2 racecar – Without reserve – Estimate: €30,000-35,000 – Sold for (wait for this!) €616,000
• Lot 900 – 1994 Porsche Typ 964 “30 Jahre 911” – Without reserve – Estimate: €80,000-90,000 – Sold for €134,400
• Lot 902 – 1992 Porsche Typ 968 Cabriolet – Without reserve – Estimate: €30,000-35,000 – Sold for €35,840
• Lot 907 – 1991 Porsche Typ 964 Carrera coupe – Without reserve – Estimate: €20,000-30,000 – Sold for €53,760
• Lot 909 – 1991 Porsche Typ 964 Carrera Cabriolet – Without reserve – Estimate: €35,000-40,000 – Sold for €72,800
• Lot 917 – 1983 Porsche Typ 911SC 3.0 – Without reserve – Estimate: €30,000-35,000 – Sold for €44,800
• Lot 918 – 1974 Porsche Typ 911 2.7 – Without reserve – Estimate: €10,000-15,000 – Sold for €34,840
• Lot 919 – 1989 Porsche Typ 944 S2 – Without reserve – Estimate: €10,000-15,000 – Sold for €26,880

Other interesting automobile

• Saturday – Lot 572 – 1969 Ferrari 365 GTC – Without reserve – Estimate: €550,000-650,000 – Sold for €739,200
• Saturday – Lot 588 – 1994 Bugatti EB110 GT – Without reserve – Estimate: €275,000-325,000 – Sold for €616,000
• Saturday – Lot 601 – 2004 Maserati MC12 – Without reserve – Estimate: €1,100,000-1,300,000 – Sold for €3,024,000
• Saturday – Lot 602 – 1966 Ferrari 275GTB/6C Alloy – Without reserve – Estimate: €2,400,000-2,800,000 – Sold for €3,416,000
• Sunday – Lot 876 – 1969 Ferrari 365 GTB/4 Daytona Berlinetta “Plexi” with covered headlights – Without reserve – Estimate: €650,000-800,000 – Sold for €873,600
• Sunday – Lot 877 – 1992 Ferrari F40 – Without reserve – Estimate: €725,000-875,000 – Sold for €1,030,400

Note: The final object for auction

• Sunday – Lot 948 – 1991 Pontiac Trans Port SE (van) – Without reserve – Estimate: €1,500-3,000 – Sold for €2,240