Thank you all for looking so much on the bright side. Just remember that if the traffic's bad, and if the comms go down, '3851' is being offered at no reserve, so literally the highest bid secures. She could end up as the $10-dollar GTO. Everyone will be in with a chance. No reserve for such a significant motor car creates a mind-concentrating opportunity... Previous GTOs at auction have all had a high reserve - in the case of the last one creating an impassable barrier. Not this baby. DCN
And that is why I think ALL the big kids will be watching. No one wants to say "Hell, for that I'da bought it". It should be fun to watch.
Offered at no reserve is just fun marketing. The opening bid will be $10m at least. Then increments of $10m up until $50m where it will slow down to $5m and then $2m increments.
Sorry Doug, and meaning no disrespect, but that is a hyperbole in oversimplification IMHO. There is no doubt in my mind that there will be an underbidder here. The owner is majority share holder in the auction house that is running the proceedings.... My crystal ball says there is no need for me, nor anyone else with less than $20 million, to register for this auction.... Onno
Jazzy - of course, no disrespect assumed (I would have taken a dim view) - but apart from your (incorrect, and unwarranted) assessment of any Louwman involvement, remember that not everything we Brits say is meant to be taken literally. Of course I've over-simplified. Lighten up, these are Forum posts here, not lawyer's affidavits. 'No Reserve' is confirmation that this darned thing REALLY will be there to be sold on the day at QL. Within recent GTO history this will be a probably one-off opportunity. If anyone suitably-qualified ever aspires to owning such an artefact, or investing in such an artefact, here is a best, uncomplicated, chance to do so... Free of complex negotiation, on the day this sale will be for real. DCN
What a shame... All that money, and it will sit on a pretty stand under some lights, and if lucky, get started once a month... It's not a beautiful race car anymore, it's an investment piece. Cost be damned, I hope the new owner drives the **** out of it every day. Sent from my iPhone using Tapatalk
Yes, the message is that the car is actually for sale and not just added to the line-up to boost the auction house's prestige or to attract wishful and wealthy bidders who won't want to go home empty-handed. (Of course, both will still occur.) It also means that there will be none of the usual post-block wheeling and dealing. Someone will simply pay up and become a GTO owner - just like that. By the way, I don't see how this could not set an all-time record for an automobile sold at auction.
I just called Louwman: no comment ("just rumours"), but they do refer to Bonhams, which by they way don't have the whole collection for sale, rather 10 cars. No reply yet from the Maranello Rosso museum. Bonhams : Ten Important Motor Cars from the Maranello Rosso Collection for Sale at Bonhams Nothing in here that says which other nine cars are to be sold.
Thanks. I was thinking more along the lines telling other sellers that going no reserve is an acceptable tactic. Don't houses get a bigger pay day when there's a reserve? Of course a car like this is a special case.
So what will this sale do to values of other 60s cars? There are many cars missing, but for frequently traded cars, how about this as a framework: so this is pecking order gto sefac hot rod swb = 40% of a gto comp swb and tdf = 25% of a gto street swb = 50% of a sefac swb 4 cam = 50% of street swb lusso = 50% of 4 cam so assuming gto at $60m that gives gto $60m sefac swb $24m comp swb and tdf $15m street swb $12m 4 cam $6m lusso $3m thoughts?
An interesting excercise. Without agreeing or not to your methodology I can tell you the following: I was talking to perhaps the leading expert in the world of Ferrari (you probably can guess his name) and he told me the following: Expect to pay $12m for a steel SWB today. I thought he was mad. Just over a year ago he told me $8m would be more than enough to buy one. Now $12m? Do prices move so fast? Then I read your little excercise. Maybe your not that far off the mark? Wether this price development is sustainable- that is another debate all together. Any other thoughts?Best E
I went to a track day a few years ago in Florida and there were six or seven 250 GTOs being driven as they were meant to be around that track. They even raced. While it takes an incredible amount of money to get them through the gate I'd like to think once in it becomes about the experience. It wasn't a parade. They drove them hard knowing any unfortunate incident can be repaired. I have so much admiration for those that conduct themselves in such a way. I hope the new owner of this 250 GTO has the same attitude. Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
Couldn't be lighter if I was Tinkerbell walking on clouds. Certainly it wasn't my intention, as indicated, to press any buttons. But you seem to have trouble following your own advice. These are indeed just forum posts. w/smiles, and all the best. Onno
Auction houses get paid when the car sells and a "no reserve" auction is (generally) a guarantee that this will happen. The house will almost always prefer to offer a car at no reserve. As you can imagine, however, convincing sellers to do so (or convincing them to lower the reserve when bidding stalls, or to accept a price somewhere below reserve during post-block negotiations) is one of the more challenging aspects of the business.
This will have no effect whatsoever. I predict that the car will be purchased for an "at auction" record price, and will subsequently be returned '62 TdF colors and configuration. Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
Are there other GTOs likely to be on offer in the near future? If not I see some "last chance" bidding driving the price way up.