A Lot to be Desired

Maarten ten Holder, now Executive Vice President, Head of Europe and Chief Auctioneer of RM Sotheby’s, tells us about the most memorable auctions of his career, his own cars and why he’s excited about the London to Brighton Veteran Car Run, of which RM Sotheby’s is the new long-term sponsor.

Words by Giles Chapman Photography by Mark Lewis & courtesy of RM Sotheby’s

MAARTEN TEN HOLDER has raised more money for a single car than anyone else on earth. The electric atmosphere in his RM Sotheby’s saleroom enjoyed a high-voltage power surge in Monterey, California in August 2018 when – gavel in hand – the Chief Auctioneer calmly tickled the 1962 Ferrari 250 GTO to a world record-setting $48.4m. That’s £37.68m. The sale happened in full public gaze, rather than via a shadowy behind-the-scenes deal relayed by ‘reports’, so it’s verifiably the most ever paid at auction for a car.

How did he do it? Ten Holder is so cheerfully matter-of-fact it’s almost disarming. “Well, we knew it wasn’t going to be super buoyant, with lots of people just putting their hands up on a whim. At that kind of level, that just doesn’t happen. Really, you’re looking from here…” He glances slightly to the left, “…to there…” And back again. “But there’s still that final push. Of course, it was an epic figure – very exciting.”

Ten Holder admits to a love of the drama of auctions – the unpredictability of what can happen on any day when incredible cars and determined people come together. There might just be a smidge of that in the impetus that’s drawn RM Sotheby’s to the Club to become

Maarten ten Holder is welcomed to the Club by Chairman, Ben Cussons.

the long-term, 10-year sponsor of its London to Brighton Veteran Car Run, from this November. “It’s a first for me personally, and I’m looking forward to being part of it,” he says eagerly. “Being involved with everything around it, London Motor Week and the Regent Street Motor Show, is very good for us – even though this first year will be quieter than usual because of COVID. We are holding our Veteran Car sale on Saturday 31 October, the day before the London to Brighton run. It’s one part of the market we’ve never really been involved in, something that’s been missing. It’s important and a lot of our clients like the fact we’re dipping our foot in that part of the water.”

For anyone who doubts they could rise to the top in a famous organisation such as Sotheby’s, take heart. At the outset of his nearly 30 years with the company, ten Holder wore a porter’s apron and pushed a trolley. “After university I needed a job and somebody said go and work at Sotheby’s in Amsterdam because it seems like you can carry two or three chairs at the same time! I did exhibitions and swept the floors and all that. The great thing was you saw the business from all different facets, and even today I like it when I see some of the guys pushing cars around and setting up; then the next time I see them they’re actually advising clients.”

An intuitive feel for rarity and specialism remains essential, though. He admits to a deep interest in 16th and 17th century topographical prints and he hailed from an environment steeped in the art of curation; his father ran a small contemporary art museum in the Netherlands. “At first I was in the Clocks Department, and I think it’s unfair to say that was a real passion, but it was an interesting learning curve. It’s the complete thing that grips me. Everybody has a specific job – finance, legal, consignment, inspection, cataloguing. Whatever you do in the office, once the curtain goes up then you’re trying to make the best possible sales for you and your clients.”

RM Sotheby’s (an amalgam of Rob Myers’ specialist RM Auctions with London’s venerable fine art establishment) has gained a phenomenal track record in the six years since the two organisations joined forces. In a league table compiled by Auto Express magazine, it accounts for six of the highest-ever auction prices achieved for collectors’ cars. Five are Ferraris, with a lone $22.5m (£17.5m) Aston

Martin interloper. That might lead you to wonder: what’s the matter with other marques? “Well, Ferrari sells well worldwide, now even in Asia. It gets more recognition than most other brands. That Aston Martin, it was a very special car, the first DBR1, and it went to a collection in the US. It all points to the fact there’s still lots of under-valuation and under-appreciation amongst other cars.”

In this unprecedented year, when live events have been suddenly diverted into online auctions, the company has set new benchmarks. Its top price for 2020 so far is for a 2001 car, yet another Ferrari – a Ferrari 550 GT1 Prodrive. It fetched $4.29m (3.28m) and blazes the trail for newer, limited-edition supercars that resonate with younger buyers.

“We were having a dip in values towards the end of 2019”, ten Holder explains, “and since then, of course, everybody has been adjusting and readjusting the way they look at the world! However, we’ve been pleasantly surprised to see a lot of business happening. Five days before our Palm Beach sale in March, for example, we had to take it online; four out of five consigners agreed and we then sold 70 per cent – a great result. We’ve done some new sales like Essen, and had new partnerships with, for example, Formula 1 in Abu Dhabi – new geographic places to be, and new clients. We are looking forward to our London auction and I feel people are just going to be excited to be participating.”

Ten Holder grew up in Zwolle in the northeast of the Netherlands, and keeps a place in

RM Sotheby’s has gained a phenomenal track record in the six years since RM Auctions and Sotheby’s joined forces

Maarten (top, left of picture) in action at the RM Sothebys sale, Paris, 2018. Utrecht, but since 2006 has been based with his family in New York. “We live between two worlds and pre-COVID almost every weekend I was on the plane either to the Netherlands or to the United States. The longer we’re here in the US, the more we realise that home is in Europe, and it’s hard when there’s no travel allowed.”

However, after a stint in London, 2015-17, he was able to take his beloved Land Rover Defender with him to North America. “I had someone in Huddersfield get it ready so it would be road legal here. I’d say it starts every other time, and so the local towing company loves me, but it’s by far my favourite car.” Meanwhile, in the garage back in Holland another classic yearns for his return; a rare 1975 Datsun 280Z. “I love to work on it when I’m there. I got it from one of our own auctions, actually, and I was very excited to win it.”

Something else awaits him on this side of the Pond: the Royal Automobile Club itself. “Yes, I’m in the process of joining. The Club is spectacular when it comes to traditions and quality. I’ve been around Pall Mall several times, and you can feel the sense of history all over the place. I can stand for hours and look at the trophies and paintings you have everywhere.”