Bonhams Miami Auction Navigates Stormy Weather with Mixed Results
The 2026 automotive auction calendar saw a dramatic turn in Miami as Bonhams hosted its highly anticipated sale on May 3rd, set against the backdrop of the FORMULA 1 Crypto.com Miami Grand Prix at Hard Rock Stadium. Despite an electrifying motorsport atmosphere, the auction itself was described as having a "damp atmosphere" due to abysmal weather conditions, which undoubtedly impacted some of the proceedings.
While the event ultimately confirmed Miami's growing stature on the global collector car circuit, the adverse weather contributed to a mixed bag of results. Out of 31 lots offered, a notable 11 failed to find new homes, with many others selling within or even below their pre-sale estimates.
Hypercars Dominate, Classics Hold Steady
Leading the charge in sales were several contemporary hypercars, underscoring the sustained strong demand for modern performance machines. The top lot of the auction was a U.S.-spec 2024 Bugatti Chiron Super Sport, a stunning example finished in Black Carbon with Jet Grey highlights and boasting $480,000 in factory options. Showing just 1,310 original miles, this magnificent machine commanded a final price of $4,340,000, including buyer's premium. Following closely was a 2019 Bugatti Chiron Sport, one of only 60 produced and featuring nearly $200,000 in factory extras, which sold for $3,024,000. Rounding out the seven-figure sales was a red 2019 Koenigsegg Regera, one of 80 ever built, with a staggering $1 million in factory options, achieving $2,520,000.
Classic performance cars also saw strong interest, albeit with more varied outcomes. A single-owner Rosso Corsa 1996 Ferrari F512 M changed hands for $784,000. Porsche enthusiasts were pleased to see all consigned Porsches find new homes. Highlights included a rare European-specification 964 Carrera RS fetching $313,600 and a Japanese-specification 993 Turbo WLS 1 in a unique color with factory 'S'-specification upgrades selling for $560,000. A couple of Porsches even surpassed their pre-sale estimates, including a 1998 993 Carrera S with RWB upgrades at $308,000 and a 993 Carrera 4 Cabriolet.
High-Profile No-Sales and Market Insights
Despite the high-flying hypercar sales, the auction witnessed several prominent lots fail to meet their reserves, indicating a discerning market influenced by current conditions and perhaps the "truly dire" weather. Among the most notable no-sales were the ex-Sammy Hagar LaFerrari, which carried a hefty pre-auction estimate of $7,500,000 to $9,500,000, and a rare 1-of-5 McLaren P1 Spider in Gulf colors, estimated at $4,000,000-$5,000,000. The second McLaren Elva produced, an XP2 press car with an estimate of $1,350,000-$1,550,000, also did not find a buyer. Additionally, a one-of-25 Mercedes-McLaren SLR McLaren Edition and a 2008 red Veyron 16.4 remained unsold.
The performance of other categories provided interesting market signals. A 1968 Meyers Manx, "Surf's Ep," from the Meyers Manx Heritage Collection, proved to be an unexpected success, selling for $145,600 against a $70,000-$90,000 estimate. However, restomod Land Rovers struggled, with a Balmoral Defender 'City Black' edition, featuring a 6.2 Chevy LT1 engine, achieving only $156,800 against a $400,000-$500,000 estimate. Another, a 1973 Land Rover Series III 109 'Wildlife Edition' built by Ramble Rovers, also fell significantly short of its estimate.
Overall, the Bonhams Miami 2026 auction showcased the continued strength in the hypercar segment and for well-documented, highly original classic Porsches. However, the challenging conditions highlight the sensitivity of the market to external factors and suggest a more cautious approach for certain high-value, niche collectibles like some restomods or ultra-rare modern McLarens.