Mamma Mia - a Bambino Makes $31,500!

MELBOURNE – March 10, 2011: A 51 year-old Fiat 500 ‘Bambino’ stunned the large crowd at Shannons Melbourne Autumn Classic Auction on March 7 when it sold for an Australian auction record of $31,500 – nearly $10,000 more than a current-model Fiat 500.

The tiny black Fiat with its air-cooled 499cc two-cylinder engine had been the subject of an older restoration and was offered with no reserve with a guiding range of $8,000-$12,000.

However bidding soon sped past $15,000 and then $20,000, before developing into a slugging match between two determined bidders that brought applause when the hammer fell finally at $31,500.

Just 15 minutes earlier, its former garage-mate – an almost identical red 1969-model Fiat 500F Bambino – also exceeded expectations when it sold for $13,250.

And shortly afterwards, a restored 1960 three-wheeler Vespa Ape 150cc Pick-Up, believed to be ex-Australia Post, produced an equally stunning result when it sold with no reserve for more than five times its low estimate for a record $25,250 after a relentless duel between two phone bidders.

The three Italian icons were not alone in the spotlight at the auction, in which half the 42 vehicle lots and all 22 automobilia lots were offered with no reserve, delivering a clearance rate of more than 81 per cent on the night.

Two-wheelers also made excellent money, with a very desirable 1952 Vincent HRD Rapide motorcycle in need of some recommissioning recording the auction’s top price of $41,500, while a restored, low-mileage 1959 Vespa 150 GS Scooter sold for $8,000 and a 1961 Vespa 150 GL ‘restoration project’ similarly offered with no reserve made an excellent $3,200.

Amongst other ‘mini’ cars to sell well, a beautifully-presented 1961 Morris Minor Traveller Station Wagon that had been in the hands of the same owner for the past 25 years sold on estimate for $18,000, while its ‘sister’ 1951 Morris Minor Convertible from the same vendor and in similar stunning restored condition brought $14,000.

Another British classic, a beautiful, always-garaged 1951 Riley 2.5-litre saloon, also posted an excellent result, realising $24,000 – around double its pre-auction estimate.

In an interesting contrast, the smallest and oldest vehicle in the auction, a 1901 American-made Locomobile Runabout Steam Car, sold for $40,000, while the largest, a 1975 right-hand-drive Pontiac Grandville Convertible, sold for $30,000.

Other standout sales of the auction included $40,000 paid for a beautifully-restored and very original Chiltern Cream 1956 Holden FJ ‘Windowless’ Panel Van that had spent 10 years in Germany; $39,500 for an unmolested, low-mileage, Barbados Green 1974 Holden HQ GTS Monaro 5.0-litre Coupe that was offered with no reserve and $26,000 for a fully-restored 1971 Mercedes-Benz 350SL V8 Convertible fitted with the rare four-speed manual gearbox option.

Amongst the vintage vehicles in the sale, a restored 1929 Chrysler Buckboard Utility sold for $24,500, a 1928 Ford Model A ‘Huckster’ van made $16,500 and a well-presented 1928 Rugby Roadster Utility similarly offered with no reserve brought $14,000.

Shannons National Auction Manger Christophe Boribon said the result showed there was strong public interest Australia-wide in quality, quirky vehicles.

“Shannons has been offering the no-reserve option for more than 20 years,” he said. “This concept has been widely accepted in the USA for some time and in recent years we are seeing that it can produce a better result for the right vehicle.”