Tuta di Michael Schumacher. Courtesy Cambi, Genova

Art Market Italy: Cambi opens a department for vintage cars, cycles

Michael Schumacher's driving suit. Courtesy Cambi, Genoa

Michael Schumacher’s driving suit. Courtesy Cambi, Genoa

GENOA, Italy – One of Italy’s most prestigious auction houses, Cambi Casa d’Aste, has launched a new department specializing in vintage cars and motorcycles. In this interview, Auction Central News’ Italy-based columnist Silvia Anna Barrila interviews auction house founder Matteo Cambi about Cambi’s plans for the future.

Q: Where did the idea to open a department dedicated to vintage cars and motorcycles come from?

A: From a careful analysis of the market and also from the consideration that many of our customers, both Italian and foreign, are fans and / or collectors of the motor world.

Q: When and where will you hold the first auction? How many auctions will you hold per year?

A: We will hold the inaugural auction of the department exclusively online in the first week of December. Then, we will make our debut auction during the traditional auction week in late February-early March in our Milan headquarters. We intend to make two auctions a year, and evaluate the implementation of specific auctions for any major collections.

Q: It is the first department of this kind in Italy? Where does this lack come from?

A: It is an exciting field that has significant results in countries such as Britain and the United States, where there is a tradition in this area. At the same time we realize that it certainly has a complex management in terms of space, and this can be a deterrent. It is also a market that requires a deep knowledge of the industry, of the collectors and of the many models of vehicles and automobilia. Finally, you must have a clientele of foreign buyers, especially in recent years, as cars and motorcycles buyers are foreigners.

Q: What will Cambi offer in this new department? On what are you going to focus?

A: Given that we are an Italian auction house, and that our country has a history of motoring which is among the richest in the world, we want to focus mainly on Italian brands and products. In addition to cars and motorcycles, we will offer supercars and prestigious modern bikes and automobilia, such as pilots suits and helmets, trophies, memorabilia, documents, etc.

Q: Could you anticipate some highlights that Cambi will offer at its first auction?

A: At our first auction we will offer items related to the world of Ferrari, some of which are exclusive and rare because inherent to Formula 1, as well as modern collectible cars such as two exemplars of Alfa Romeo Roadster Zagato from the early 1990s which was produced in less than 300 exemplars. We will also have Moto Guzzi motorcycles from the prewar period and Vespas from the late 1940s-early 1950s which, besides being important and famous brands in the world, have Genoese origins just like our auction house.

Q: Which are the most popular cars and motorcycles? What are their prices?

A: The most popular cars worldwide are linked to famous brands such as Ferrari, Alfa Romeo, Maserati, Bugatti, Mercedes, Zagato, Carrozzeria Touring. Their values range from several hundred thousand Euros to several million Euros for a vehicle. It must be said that buying a vintage vehicle, whether it costs millions of Euros or tens of thousands of euro, it is an interesting investment, if it is well done, so that vintage cars are considered a great store of value.

Q: For a collector who is entering this market, what are the things to know and watch out for? What kind of investment is required?

A: For a collector who enters this market, there are many things to know. First, we need to distinguish whether you are buying for the pleasure of owning the car, or for investment, because the choices will have a different nature. Having said this, the main observations are to be inherent to the conditions of the car, because the values are very different if the purchase is fully restored or needs restoration. To own a vintage vehicle and enjoy the passion, even €10,000-15,000 for a car €5,000-10,000 for a motorcycle may be enough.

Q: What are the outstanding historical sales in the field of vintage cars and motorcycles?

A: In recent years there was a succession of outstanding sales. Many cars reach prices higher than 1 million Euros, and in the last few years the values have been growing so much that some historic cars produced in very few copies (Ferrari in particular) have reached record prices between 10 and 25 million euros.

Visit Cambi Casa d’Aste online at www.cambiaste.com.


ADDITIONAL IMAGES OF NOTE


Michael Schumacher's driving suit. Courtesy Cambi, Genoa

Michael Schumacher’s driving suit. Courtesy Cambi, Genoa

Zippo lighter produced for the brand 1000Miglia, 2009. Courtesy Cambi, Genoa

Zippo lighter produced for the brand 1000Miglia, 2009. Courtesy Cambi, Genoa

JR, Airbrush painting of Alfa Romeo Tipo 8C 2900B Berlinetta Touring 1938, 100x70 cm. Courtesy Cambi, Genoa

JR, Airbrush painting of Alfa Romeo Tipo 8C 2900B Berlinetta Touring 1938, 100×70 cm. Courtesy Cambi, Genoa

Vespa TAP - Troupes Aéro Portées, 1956-59. Courtesy Cambi, Genoa

Vespa TAP – Troupes Aéro Portées, 1956-59. Courtesy Cambi, Genoa