275 GTB/2 Longnose Alloy #08035 ex-Violati at Bonhams in London today = cheap!

Hi Abi...... What did you expect it to bid to ? It appeared to be a lovely car but like all the Violoti cars it needed a lot of work.......My guess is that the new owner wont have much change out of GBP 2.3 mill by the time its back on the road.......

 

Hi Andreas,
this is the end of the season and people are tired compared to PB and other mid summer places.
we have only 2 other explanations, either the market is slowing down, time will tell, or people put a premium on concours quality cars and dont want to handle themselves a long and costly restoration even if the real collectors like you and me believe this is part of the pleasure (in addition to the knowledge of knowing what has exactly been done in the restoration process).
The early auction of 2015 will possibly give us some more light.
And i agree with Paul, a full restauration, cometically back to full are metal and chrome and engine/trans etc plus electrics and interior will leave you little change from 300,000 Euro including VAT. Have been through it recently!
P

 

I don't think the market is slowing down - but I have been wrong before - since
the other results in this auction seem to me in line with recent results.

Regards

Wolfi

 

Agree with you, the 288 was not exactly discounted so i guess this is more this car, this condition, and maybe an oversupply of GTBs of all sort while pretty much everyone who wanted one got it by now!

And on market we all know the issue is not the direction, but when. Timing is the most difficult part. I predicted that the Yen will move from 100 to USD to 110, (actually more than that now) but took 2 years and when it started this was in 2014 a huge move.

Lessons that people may challenge are that moves are seldom gradual because of market forces, when prices are going up the are moving quickly and same in other direction. No equilibrium can be reached, see the oil market.

so at the end you might be right,,but we dont collect for the money!
P

 

Shouldn't this be posted in "market" section ???

 

Maybe lawsuit(375+)is now more important for good reputation.maybe some influence...

 

Hi Andreas,

There goes my pension...
Well small auction and I noticed before that some auctioneers hammer very quick in some cases. They might have more information. It was also a very small auction, but rest of prices seems ok..almost 2 m eur for a 288 is pretty good...

Nice colour of the 275 btw. Will the car be flipped soon? That might be a wrong sign though if dealers buy these cars from auctions.

Pierre, I am in the TA 2015 btw.

Ciao
Oscar

 

Until you retire we might be in next upward cycle!

We already had this discussion of dealers sourcing cars at auction, tells us a lot of things, one that sourcing is more complicated than before, and second that money can be made either by intermediating once more with specialised marketing and client list, proper proration of cars, and holding on cars if market moves upwards. If market move downwards, merchants financing stock with bank loans will be squeezed and will have to sell, this is why moves as indicated above are always more brutal than expected. When the stock cumulative of dealers represent many month of trade, when I see cars being bought at PB still in stock, I beleieve keeping a car from one season to the next one is a risky business. On the other hand, interest rates at least in Euro are going to remain extra low for at least 24 month so it reduces the cost of holding stock so long banks are not re appraising loan to value ratios.

Yes saw you in the early TA entrants, application sent , will be in next list, and look forward to see you there .

 

We will see but as Pierre already mentioned quite some owners sold their 275's the last 5 years so the market might be slower. Although Kidston just sold his 275 GTB/4. Asking price was 2,75 (sic)...eur.
Have mine now 12 years or so, fool or fanatic?

ciao
Oscar

 

Any views on the 275 GTB (07045) at coys. DNS at 920k GBP. Suprised it wasn't bid higher. I didn't look at it closely but it looked clean and was described as matching numbers.

 

I didn't look at it closely (QUOTE] That much is obvious........

 

But than again, a restauration will set you 100-200 eur back, the short nose (I think this one is original 3 carbs) should be in the 1.8-2.0 euro range....so 920 Pds (ok, plus 200 or so commision) is too low...
What was wrong with it?

Ciao
Oscar

 

I don't know. May be related to COYS and venue. Yes car was not perfect, but a well known car , used at multiple occasions, I remember meeting her owner driver and her co driver at the 2004 Ferrari 275 40th anniversary. SF was a very spirited driver and the car had a nice use during the last 10 years, saw them at one of last Italia Classica. So it was a driver car, properly maintained from a mechanical point of view, I was surprised they chose this venue for selling the car they owned for a long period of time. OK did not have bumper and suspension looked little bit hot rod, but all this could be fixed for few hundred grands...again may be current buyers want immaculate cars ready to show? And dealers don't want to wait 18 month and invest money before they can trade and sell? Time will tell. Will see how much Artcurial makes with the high estimate Vadim/ Fonda car in Paris and anything that happens before in Scottsdale .
And Oscar, you can enjoy yours until the next cycle, you will still be eternally young, and Marianne will be happy!
Cheers
p

 

Do you know something about the car?

 

Wow! That is terrible for Coys to misrepresent the car like that! If not illegal it's seriously unethical! Thanks very much for the info

 

A slight tangent from this thread, but FWIW, Coys also published an inaccurate description of the Aston Martin DB2/4 listed here:
Coys Showrooms

The owner of the car was a fighter pilot; his father was a politician who chaired the Security Executive, which 'oversaw' MI5 like a Minister does today. Swinton was never the 'head of MI5', and in any case, Fleming worked for Naval Intelligence - an entirely different service.

Still, in order to flog this as 'the Goldfinger car', it clearly makes more sense to imply that Swinton was MI5 D.G. and that Fleming worked for MI5 too (neither is true).

This is either very poor researching, or deliberately misleading marketing. Endemic?