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250 GTO at no reserve at Quail - BONHAMS

Discussion in 'Vintage Ferrari Market' started by Onebugatti, Jun 30, 2014.

?

what will 250 GTO #3851 auction for at Bonhams' August 15?

  1. <= $20mm

  2. $25mm

  3. $30mm

  4. $35mm

  5. $40mm

  6. $45mm

  7. $50mm

  8. $55mm

  9. $60mm

  10. $65mm

  11. $70mm

  12. $75mm

  13. => $80mm

  14. no idea

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  1. alexwagner

    alexwagner Formula Junior

    Aug 31, 2013
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    Alex Wagner
    A lot of the vote respondants may not have been fully qualified to offer an opinion?
    It's easier to click a $50M vote button than it is to write the cheque... ;-)
     
  2. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    Apr 5, 2010
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    Ultimately, as many people said it wasnt the BEST GTO and there are always others available. And it was offered at auction with all of the construct that is entailed in that forum. I guess 38 wasnt a bad price, it was just a little lower than expected. Key will be the other three big cars this weekend, especially the 365P and the 275 Speciale.
     
  3. tbakowsky

    tbakowsky F1 World Champ
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    The guy that paid 52 million probably needs to change his shorts.
     
  4. SefacHotRodder

    SefacHotRodder F1 World Champ

    Dec 20, 2003
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    TDF winning car. Not sure if that makes up the difference in value though
     
  5. ARTNNYC

    ARTNNYC F1 Rookie
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    Jul 8, 2005
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    race history matters a lot, I think, for these cars
     
  6. Diablo_4_Ever

    Diablo_4_Ever Formula Junior

    Nov 9, 2004
    947
    Netherlands
    Lot 003 - Ferrari 250 GTO s/n 3851GT
    Est. $ 42.2 mio - 50.7 mio &#8364;31 mio - 37 mio -
    Sold $ 38,115,000 &#8364;28,501,458
     
  7. GuyIncognito

    GuyIncognito Six Time F1 World Champ
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    Jun 30, 2007
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    wow....didn't see that coming.
     
  8. Imola82

    Imola82 Formula Junior

    Oct 16, 2007
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    Stu
    Seemed right to me. My wife and I guessed $40MM all in before lot 2 left the the block. Provenance is everything and I still think a top bid on 4293GT if brought to auction in this climate would be $65-75MM.

    Congrats to the new owner! Take it to Stelvio Pass, Transfagarasan Highway, Nurburgring or wherever and let it rip!

    Stu
     
  9. rob lay

    rob lay Administrator
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    Dec 1, 2000
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    I'm shocked too. I might be able to buy a vintage Ferrari 2+2 someday! the market had kind of left me the last several years. :)
     
  10. alexwagner

    alexwagner Formula Junior

    Aug 31, 2013
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    I would tend to agree John, that does make sense.

    That said, the human mind play tricks and loves to rationalize everything and its contrary.
    Had the car made $70M, one would have explained it as being a once-in-a-decade auction opportunity for a very hot car in a very hot market. While at $38M, one invokes the ghost of a dead driver... ;-)
     
  11. GrayTA

    GrayTA F1 World Champ
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    Jun 25, 2006
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    I got in and was able to watch it. I was a bit underwhelmed after all the buildup its gotten over the last week or so.

    I think it was still well bought and I hope the new owner keeps the car in the public eye and doesnt park it away never to be seen again.




    PDG
     
  12. S Brake

    S Brake F1 World Champ

    Aug 3, 2006
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    Is it possible that some potential buyers stayed away because of the publicity an auction brings?
     
  13. merstheman

    merstheman F1 Rookie

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    Not so much of a problem if you bid through an agent or through the phone.

    In the long run if you own one of these cars, at least some people will know about it.
     
  14. S Brake

    S Brake F1 World Champ

    Aug 3, 2006
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    True, but even as a phone bidder everyone knows that the car was bought. With a private sale it seems like it is rumored for quite a while before there is any verification.
     
  15. Daytonafan

    Daytonafan F1 Rookie

    Oct 18, 2003
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    Reckon this was market correct. The $52m car was a Tour de France winner, this car had a dark history with the fatal accident. I don't see this as a sign of a market crash as the other Ferraris sold were reasonably market correct too.

    If RM and Gooding have poor sales then that will be a sign of a correction.
     
  16. synergy

    synergy Formula Junior
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    From USA TODAY

    Ferrari tops $38M to set record

    CARMEL, Calif. — A red Ferrari set a record Thursday as the most expensive car ever sold auction. The 1962 Ferrari 250 GTO Berlinetta, reportedly one of only 39 made, sold for $38,115,000 including the 10% commission at a Bonhams auction here. Auction officials say the sale easily topped the previous record of any car ever sold at auction, about $30 million for a 1954 Mercedes-Benz W196R F1 single-seat racer sold last year at a Bonhams auction in England. But the GTO failed to meet widespread expectations that it could become the most expensive car ever sold -- period. That record belongs to a Ferrari GTO sibling sold in a private sale last year for about $52 million, according to McKeel Hagerty, a car auction expert and insurer of collectable cars.

    Once-crashed Ferrari tops $38M to set auction record

    Get USA TODAY on your mobile device:
    USATODAY
     
  17. rob lay

    rob lay Administrator
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  18. merstheman

    merstheman F1 Rookie

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    Yes, I think we have to see what the 365P, 275 Speciale and even the 250LM with weird provenance fetch...

    But if I had a car like these for sale at Monterey after this result, I would be a little scared.
     
  19. jjmalez

    jjmalez F1 Rookie
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    Apr 8, 2005
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    When the 19th copy of Enzo Ferrari's 250 GTO Berlinetta left Maranello in 1962, it was just another race car, one that had a hard life ahead of wrecks and in one instance a driver's death. Yet today, the GTO was poised to become the most expensive car ever sold, the new high mark in a global demand for classic cars.

    Instead, Bonhams' auctioneer Roberts Brooks brought the hammer down at $34.65 million -- and with the 10 percent buyer's premium, the final price of $38.115 million set a new record for vehicle auctions, but was well short of the record for a private vehicle sale.


    https://autos.yahoo.com/blogs/motoramic/1962-ferrari-250-gto-sells-for--xx-million-215035968.html

    A Wall Street guy once said, a bull market is like sex. It feels best just before it ends.

    :rolleyes:
     
  20. ferraripete

    ferraripete F1 World Champ

    A poor number...we expected more yes?
     
  21. Daytonafan

    Daytonafan F1 Rookie

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    At that level each car needs to stand on it's own merits. For the 365P and the Speciale this might be the only chance to buy for some time. It might be a wake up call to sellers of Dinos, GTC's and Daytonas with questionable history and condition though.
     
  22. 96redLT4

    96redLT4 Formula Junior

    Feb 20, 2009
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    Jim
    I knew it would not sell for what some thought. A car that someone lost their life in has some degree of negative karma. RIP to the young driver so many years ago
    Jim
     
  23. trashidelek!

    trashidelek! Formula Junior

    Nov 18, 2004
    655
    The crowd there certainly seemed to "expect" more...
     
  24. JAM1

    JAM1 F1 Rookie
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    Funny people are calling for a bubble pop because this car didn't break $52M. It sure seemed like many of the other Ferraris sold for strong money...
     
  25. Bullfighter

    Bullfighter Two Time F1 World Champ
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    Jan 26, 2005
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    IMHO, at that level, there are so few buyers that the situation is almost irrelevant to the "common" collectibles market.
     

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