I'm on David Gooding's auction live for the past hour; seems like market quite soft, prices not strong as last summer. A 73 Porsche 911 Carrera 2.7 RSH no sale (est $1,250K-$1,500K), 59 Porsche 356A convert D, est was $225K-275K, auctioneer dropped the reserve and sold the car at $170K. Unrestored 1959 Ferrari 250GT California LWB Spider same owner since 1969, estim $8,000,000.-10,000.000. opening bid was $5million, agonizing bidding finally reached $7,000,000. that I believe was below the reserve, sold at $7mill; 1960 Rolls-Royce Phantom V Sedanca de Ville, estim $500,000.-$700,000. no sale. 1959 BMW 507 Series II, estim $1,800,000.-2,200,000. sold below reserve at $1,650,000. 1970 Dino 246GT estim $550,000.-$750,000., said to have been a factory development car, sold below reserve at $465,000.
Gooding Lot 25 Lusso $1.925 + comm. Nice SoCal driver. Range was listed at $1.6 to 1.8 which I thought was kinda low after seeing Lusso's go for $2+ at Monterey last summer.
I think that Lusso is solid condition, not amazing. If you do the 1.925 + 10% = $2.1175... what would it cost to get to amazing condition? $300k? That would put this car right in the mix. This seems like a strong result, especialy given how soft the market seems due to world turmoil, etc.... Either way, thats a really great looking car! Btw- thank you all for posting results etc. Fascinating times..... is this the market deflating? Or is it a temporary pause? We won't know until for sure until we can look back.
I must say the Audi sport Quattro at $365K is a fascinating result. Meets every test of an important landmark milestone car yet cheaper than a 4-headlight 330 or yet another Dino
Does no one have anything to say about the events (or non-events) of the past three days in the Scottsdale auctions? It is strangely quiet here . . . .
"All quite on"... I would tend to agree...perhaps the "industry/hobby" has reached the saturation point? Sorta numb to it all, blase' if you will? How much can one wring-out of this dish towel? Jack
How much did LOT 235 Silver Daytona Spider VIN16793 go for? 1973 Ferrari 365 GTB/4 Daytona Spider by Scaglietti | Arizona 2015 | RM AUCTIONS
Just to reassure anyone interested that once RM posts the results (confirmed) I will post a list of all lots and the sale prices. Same for Gooding and Bonhams. Dont really pay too much attention to the others, although they dont exactly sell a lot of Ferrari's. Watch this space and all will be revealed. My initial thoughts regarding the Scottsdale weekend is either we have seen the end of the golden weather at Monterey and its all downhill from here or a much more likely scenario is that its business as usual. I believe that most of the lots that haven't sold are unsold because of unrealistic estimates. The auction houses have got into a situation where they have a lot of auctions that they need enough star cars entered to get the buyers interested. Then they can add the filler and everyone sits through that waiting for the big hitters to come up. If you are a seller that has seen one Porsche 911RS or one Ferrari Daytona convertible sell for 1 million or 3 million respectively, you will perhaps entertain an auctioneer that is desperate for a marquee lot and will consign but only if they can get you that 1 million sale or whatever your price point is. The problem is that when setting the price point you as a seller may not be truly motivated and so you will ONLY let it go if you can maximise your return. So what then if there is only be 1 buyer that wants to spend 1 million on a 911 RS and he has scratched that itch whereas the other buyers only want to pay 800k, you hold on and wait. And what if your car isnt absolutely perfectly restored, a major psychological hangup is people looking at their pride and joy and believing it is a condition 1 when in reality it needs $100k worth of restoration to get it to that level, again you hold on and wait. This is glossing over a lot of factors but I believe the retromobile auctions in 2 weeks will show the same paradigm of great or rare cars selling for record prices and the rest heading home. And if the market keeps heading upwards over time the market will eventually give you the million dollar payday you so "richly" desire.
The Bonhams results are up Bonhams : The Scottsdale Auction Does anyone happen to know what the Lusso (lot 144), DB5 Volante (148), and the Carrera RS (166) were bid to?
