Skip to content

Miura marvels at RM Sotheby’s Dare To Dream sale

Words: Nathan Chadwick | Photography: RM Sotheby's

A 1972 Lamborghini Miura emerged from RM Sotheby’s Dare To Dream sale as the highest-selling lot, beating its pre-sale estimate by $1.4m to land on $4.9m.

The sale, held over May 31 and June 1, 2024, saw 140 cars and motorbikes up for sale, all at no reserve, while a sale of more than 800 rare pairs of sneakers ran until June 5. The collection was owned by financier Miles Nadal, who told Magneto the sale was so that he could simplify his life. The money raised will all go to charity, the Dare To Dream Foundation, which focuses on helping disadvantaged children in particular.

While there were several above-estimate results, plus a few minor below-estimate scores, the greater majority of sales fell within their pre-sale estimate windows. We’ve picked out five of the major talking-point cars from the auction – what did you have your eye on?

The pre-sale estimates pointed to one of Ferrari’s big five leading the auction, but instead it was Lamborghini that got the nod for the highest result of the sale. While this 1972 Lamborghini Miura P400 SV’s pre-sale estimate of $2.75m-$3.5m was hardly a tiny amount, its $4.9m result came as a surprise to some, given a history that has seen its driving layout changed from left to right and back again. Formerly owned by Jamiroquai’s Jay Kay, who demonstrated the car on Top Gear in the 2000s, it had been restored in the 2010s and joined the Dare To Dream collection in 2016. It sold for $4.9m, a new record for the model.

Ferrari dominated the rest of the big-hitting results and, in a stark contrast to recent results, it was a red Enzo that led the way, with the first US car to hit US soil selling for $4.295m against a $3.75m-$4.25m estimate. The F40 ($3.47m), 288 GTO ($3,882,500) and F50 ($4.24m) all stayed around their pre-sale estimates, but one slight disappointment was the above 2015 LaFerrari. Its low estimate of $3.85m put it at the high end of Hagerty’s price guide (as explained in our article here), but it failed to reach that, coming in at $3.69m.

As John Mayhead points out in that article, battery problems have dogged the Holy Trinity hypercars, of which the LaFerrari is one; however, in this sale, only the Ferrari failed to hit its marks. In the same auction, a McLaren P1 sold for a mid-estimate $2.095m and a Porsche 918 sold for a smidge over high-estimate $1.875m.

On the subject of Porsches, two of the more surprising results came from 911s in ‘flatnose’ form. The above car, a 1990 Ruf BTR III, was always going to draw attention due to its very rare – if not unique – specification. One of 25 bespoke builds, its configuration of Cabriolet, flatnose and Turbo S rear air ducts made this 408bhp machine a hotly contested lot, and against a $400k-$500k pre-sale estimate, it sold for $753k.

However, perhaps the more eyebrow-raising result came via a 1989 Porsche 911 Turbo. One of 62 optioned with a flatnose for North America, it wore 895 miles and was estimated at $250k-$350k. In the end, it sold for $500k – a sign that there is still mileage in rare 911 variants; in the same sale a 1973 Carrera 2.7 Touring made a mid-estimate $747,500. Recent 911 results have seen the above-estimate action directed towards the 964 Turbo 3.6, although as the Turbo celebrates 50 years this year, could all rare variations see price rises?

The Mercedes-Benz 300 SL continues to provide interesting results in its 70th anniversary year, and it appears colour combinations play a key part in attracting interest. Take this 1959 Mercedes-Benz 300 SL Roadster: specified with the desirable disc brakes, 3:64 rear end, colour-matched wheels, Becker Mexico radio, Talbot mirror and Baisch-style seatbelts, it was estimated at $1.5m-$1.8m. However, its rare combination of DB334 Light Blue (101 built) and red interior helped push the result past top estimate to $2.095m. A silver 1955 Mercedes-Benz 300 SL Gullwing, meanwhile, sold for $1.665m against a $1.6m-$2m estimate.

Two Enzo-era Ferraris also shot past their pre-sale estimates, and in the case of the above 1973 Ferrari 365 GTB/4, it was again a surprise. In a turn-up for the usual way things pan out for Ferraris, this car was originally red but during an exhaustive restoration by Exclusive Motorcars’ Rex Nguyen in the 2000s, it was finished in Blu Scozia. Certified by Ferrari Classiche and with a host of awards to its name, it burst through its pre-sale estimate of between $650k and $800k to sell for $1.061m.

Another Enzo-era car that did very well was a 1974 Dino 275 GTS; prior to joining the Dare To Dream collection in 2020, it had remained in single ownership for 35 years and wore less than 7000 miles. Estimated at between $500k and $600k, it sold for $775k.

For more information on the Dare To Dream sale, head here.

Get Magneto Magazine straight from publication to your door with a subscription.

2 Year Subscription £94 1 Year Subscription £54