The Reserve Report

THE RESERVE REPORT - APRIL 2026

Monaco reminded the market what one elite event can do.

Historical Coverage
Historical coverage series. This report was prepared on October 7, 2026 using period-correct public market data. The April 2026 label describes the coverage period, not the original publication date.
Executive Read

Monaco reminded the market what one elite event can do.

April was steadier than Q1 until RM Sotheby's Monaco changed the mix. The single event accounted for $101 million and pushed live-auction dollar volume above online for the first April in five years, while online unit volume continued its multi-year growth.

LIVE VOLUME$237.7M
RM MONACO$101M
ONLINE SALES4,624
FERRARI TOP 107 of 10

Selected public price discovery

Model / MarketResultMileage / DetailContext
2015 Porsche 918 Spyder Weissach$4.680M1k miBroad Arrow Air|Water - Apr 25
RM Sotheby's Monaco$101Mevent volumeHigh-value live auction concentration
Ferrari7 of top 10-April top-sales share

What the tape says

Event mix can distort a month

Removing Monaco changes the read materially. One exceptional catalog can move aggregate dollar volume without implying a universal repricing.

918 remained a halo benchmark

A 1,000-mile Weissach at $4.68M demonstrated how strongly preserved hybrid-hypercar examples could trade.

Online kept compounding

Online sold listings reached 4,624, up 41.7% from April 2022, reinforcing a permanent increase in day-to-day price discovery.

The Twelve Reserve view

April reinforced our preference for vehicle-level comps over broad averages. The market is increasingly split between continuously trading online inventory and event-driven trophy cars where one weekend can dominate the statistics.

Individual results are reference points, not universal valuations. Mileage, specification, originality, history, condition, venue and timing all matter.