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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. Rifledriver

    Rifledriver Two Time F1 World Champ

    Apr 29, 2004
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    Brian Crall
    A rising tide lifts all boats.

    Maybe your Dinky's will go up in value.
     
  2. Doug Nye

    Doug Nye Karting
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    Jan 21, 2008
    203
    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
     
  3. Rifledriver

    Rifledriver Two Time F1 World Champ

    Apr 29, 2004
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    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.
     
  4. 275GTBSaran

    275GTBSaran Formula Junior

    Mar 5, 2012
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    Le Monde Edmond
    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.
     
  5. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
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    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
     
  6. Doug Nye

    Doug Nye Karting
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    Jan 21, 2008
    203
    #31 Doug Nye, Jul 1, 2014
    Last edited: Jul 1, 2014
    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
     
  7. Far Out

    Far Out F1 Veteran

    Feb 18, 2007
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    Florian
    Is the price he paid for the whole collection known?
     
  8. NickH07

    NickH07 Karting

    Jan 19, 2014
    95
    Greensboro NC
    Full Name:
    Nick Hawks
    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
     
  9. Doug Nye

    Doug Nye Karting
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    Jan 21, 2008
    203
    So do we. Fabrizio did.

    DCN
     
  10. VIZSLA

    VIZSLA Four Time F1 World Champ
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    Jan 11, 2008
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    Is there a message being sent when an auction house owner opts for no reserve?
     
  11. babci

    babci Formula Junior
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    May 19, 2011
    281
    100 Mill +. Entire collection had been for sale for years offered by tons of brokers.
     
  12. El Wayne

    El Wayne Global Moderator
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    Aug 1, 2002
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    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.
     
  13. bigodino

    bigodino F1 World Champ
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    Apr 29, 2004
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    Peter den Biggelaar
    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.
     
  14. VIZSLA

    VIZSLA Four Time F1 World Champ
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    Jan 11, 2008
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    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.
     
  15. asianbond

    asianbond Formula 3
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    Nov 8, 2003
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    Chris
    will sell close to $100mn
     
  16. roma1280

    roma1280 F1 Rookie
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    May 2, 2010
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    Mark
    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?
     
  17. 275GTBSaran

    275GTBSaran Formula Junior

    Mar 5, 2012
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    Zurich, Switzerland
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    Le Monde Edmond
    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
     
  18. Str8shooter

    Str8shooter Formula 3
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    Jan 31, 2011
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    Orlando
    #43 Str8shooter, Jul 1, 2014
    Last edited by a moderator: Sep 7, 2017
    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.
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  19. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
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    Onno
    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
     
  20. El Wayne

    El Wayne Global Moderator
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    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.
     
  21. tilomagnet

    tilomagnet Formula Junior

    Sep 26, 2010
    293
    This is the only GTO that someone died in....I doubt that lowers the price too much though.
     
  22. El Wayne

    El Wayne Global Moderator
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    #47 El Wayne, Jul 1, 2014
    Last edited by a moderator: Sep 7, 2017
  23. VIZSLA

    VIZSLA Four Time F1 World Champ
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    Jan 11, 2008
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    David
    Thanks.
    Does the commision rate differ?
     
  24. VIZSLA

    VIZSLA Four Time F1 World Champ
    Owner

    Jan 11, 2008
    41,186
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    David
    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.
     
  25. bernardo66

    bernardo66 The Crazy Cat Man
    Moderator Owner

    Dec 14, 2003
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    Montreal Canada
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    Bernie
    Return it to stock! Love that!
     

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