News

Depressed asset values: what effect on Monterey auctions?

Discussion in 'Vintage Ferrari Market' started by Jack-the-lad, Aug 9, 2007.

  1. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    72,245
    Houston, Texas
    Full Name:
    Bubba
    Lusso are just short of joining the 250GTO and 250SWB....that's a blue chip fo' sure!

    Steve McQueen's SUNGLASSES brought huge money, for Pete's sake.........
     
  2. velocedog

    velocedog Karting

    Jun 6, 2007
    119
    Michigan
    Full Name:
    Jack
    Just checked my e-mail looking for that fat inheritance/lotto winnings/money laundering from Nigeria thing and all I got was this:

    "You have a big heart but a small penis, make the two things big with Penis Enlarge Patch."
     
  3. Kingair33

    Kingair33 Formula Junior

    Aug 28, 2006
    941
    San Francisco, CA
    Full Name:
    Alex
    I saw this one in the RM bidders catalog, excited to see what it goes for. Any guesses Marcel?
     
  4. kvisser

    kvisser Formula 3

    Dec 11, 2004
    1,929
    Damascus, MD
    Full Name:
    Ken Visser
    How to get one of those bidders catalogues?

    Cheers

    ken
     
  5. kvisser

    kvisser Formula 3

    Dec 11, 2004
    1,929
    Damascus, MD
    Full Name:
    Ken Visser
    I just called RM, they wanted $100 bucks for a catalog. A bit pricey to look at pictures.

    cheers

    ken
     
  6. HeloSixx

    HeloSixx Karting

    Feb 15, 2007
    206
    Amelia Island FL
    Full Name:
    Ben
    Anyone know where his NART spyder is? It s/n 10453 I think but not sure. Marcel do you know?

     
  7. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    72,245
    Houston, Texas
    Full Name:
    Bubba
    They usually run about $50 at Keels and Wheels with a non Bidding pass into the tent..

    Not just pictures as they usually have great history of each model, the one for the Factory Auction two years ago was a darn history book! I printed the whole thing off online.....

    That Benjamin is how they separate the wheat from the chaff.
     
  8. Kingair33

    Kingair33 Formula Junior

    Aug 28, 2006
    941
    San Francisco, CA
    Full Name:
    Alex
    They do have an online catalog too. I believe the catalog is included with being a registered bidder, but the official catalogs are beautifully put together.
     
  9. Marcel Massini

    Marcel Massini F1 World Champ
    Honorary

    Mar 2, 2005
    14,096
    Since many years in private collection Laurel Hollow/NY.
    Marcel Massini
     
  10. Marcel Massini

    Marcel Massini F1 World Champ
    Honorary

    Mar 2, 2005
    14,096
    The online catalog of Gooding's is absolutely identical to the paper one. VERY nicely done, really professional, modern, fresh approach. RM also has an online catalog, besides the printed one.
    Marcel Massini
     
  11. Marcel Massini

    Marcel Massini F1 World Champ
    Honorary

    Mar 2, 2005
    14,096

    1451 GT will make US$ 4.5 M. Or north.
    Marcel Massini
     
  12. Marcel Massini

    Marcel Massini F1 World Champ
    Honorary

    Mar 2, 2005
    14,096
    The Lusso is just sensational. The provenance is fantastic, it is extremely well documented, owner Mike Regalia did a wonderful restoration job (he used to work for the Jack B. Nethercutt Collection in San Sylmar/CA for over 25 years and ended up as their President). Highly unusual color, all matching numbers. Car has won several Platinum Awards and other top wins. The Steve McQueen factor alone is HUGE. This car is not just interesting for Ferrari guys, it is equally important for all McQueen enthusiasts/collectors. It clearly appeals to several different groups of collectors. Christie's did an outstanding job with the promotion. And the car has been featured in magazines all over the planet. I am convinced that this Lusso will sell for US$ 1.2 M, all in.
    Marcel Massini
     
  13. richardowen

    richardowen Formula Junior

    Apr 2, 2004
    837
    Montreal, Canada
    That's WAY more than 3.9 for 09437. It'll be entertaining!
     
  14. nerd

    nerd F1 Rookie

    Oct 12, 2003
    2,506
    Southwest Airlines
    Full Name:
    RSK
    Even for us sheep, the DOW is still up 6% for the year, NASDAQ is up 5% for the year, commercial real estate is healthy and many, many working executives received record bonuses last year. If you count just the 946 billionaires in the world, their assets total 3.5 trillion dollars; do you think they really care? The dollar sitting at an all-time low against the Euro could be huge factor if foreign buyers show-up.
     
  15. krasnavian

    krasnavian Formula 3

    Dec 24, 2003
    2,124
    Los Angeles/Paris
    Based on what I've read here, the time may have come for me to let go of the Dodge Dart Slant 6. I was hoping it would continue to escalate in value, but perhaps it has finally peaked. Don't want to take it in the shorts on this one.
     
  16. nerd

    nerd F1 Rookie

    Oct 12, 2003
    2,506
    Southwest Airlines
    Full Name:
    RSK
    Yep, it is time......
     
  17. Tspringer

    Tspringer F1 Veteran

    Apr 11, 2002
    6,155
    I clearly have nowhere near as educated nor knowledgeable foundation for taking a crack at this... but I think you are low. I think McQueen's Lusso will go north of $1.5M. McQueen was one of the most popular movie stars EVER, particularly for guys, throwing that on top of one of the nicest Lusso's on the planet and it there is no telling how high it could go if they get 2 really rich guys with big egos and a McQueen fetish into a pissing match over the car.


    Terry
     
  18. Fontana

    Fontana Karting

    Dec 30, 2006
    177
    Vermont
    Full Name:
    Steve Markowski
    I still feel that many Ferraris are under valued. Take a 250GTE, the same basic set up as the million plus Ferrari 250's, very attractive, well built and super rare after all of the cannibalizing for around the $100,000 mark. Compare this to Muscle cars and it looks like a bargain.Take a 365/512BB, tons of performance, great looks and killer noise for for less than a Porsche 911RS?
    I think that some Ferraris are tapped out, I cannot imagine the early street cars going much higher, over $500,000 for a Boano? Dino's are not that hard to find and don't offer tons of performance so at $150-200,000 they have peaked. Seems like some of the early 166/212/250 street cars wont move too much as they are not too thrilling but most everything else should move up.
     
  19. Chaos

    Chaos Formula 3

    Sep 29, 2004
    2,327
    Cardiff. UK
    Full Name:
    Nick.
    presumably though this is a one off and will not affect the lusso market as a whole ?
     
  20. tx246

    tx246 F1 Veteran
    Rossa Subscribed Owner

    Nov 4, 2003
    5,556
    Texas
    Full Name:
    Shawn
    great lusso's are just hitting the $500k mark. this car is great, the real question is what will the McQueen provenance bring in addition to? i don't doubt what marcel says, mainly because he has a greater inside view than most of us will ever have. frankly, had he not posted that, i was figuring the car would be in the $800-900k range. why? because it's McQueen's car and because of the level of restoration.

    but then again, i never would have thought his sunglasses would sell for $70k.

    based on all the market specualtion today and going into next week, the uncertainty is great. when considering the volatility of the stock market and the international credit/mortgage shakieness, the auctions are just as likely to go good as bad. good if people look for other avenue's to place their "profits", bad if they haven't already capitalized on their profits.

    a true and real story. what scared me was when a real dealer told me the story of a male nurse in california that makes less than $100k annual income. he refinanced his home, took the equity and bought a 275 gtb/4. this happened mid-late last year. clearly a good deal for him at the time. it also shows how unstable the equities markets are.

    whether HE defaults or not isn't the point. it is the fact that there are so many more like him.

    i am not so much worried about the arm and sub-prime ordeal on the people making their notes. it's all the fraud that took place that has delivered us to where we are. i can't say at what level the fraud will start to expose it's head (maybe it has already happened), however, the fraud will dictate the market.

    if anyone questions this, just look at the "redline"/eddie griffeth enzo situation.

    i too believe that real money will be on display at the auctions. however, i have to question how much "built up" money will come to light. i really feel that this is the reason, amoungst other things, we have seen the barret-jackson results we have over the last several years. muscle cars are going to lose "muscle", where as cars with international appeal will make up for the lack of demand for cars that have the same, international appeal.
     
  21. HeloSixx

    HeloSixx Karting

    Feb 15, 2007
    206
    Amelia Island FL
    Full Name:
    Ben

    I asked Mike two years ago at the Amelia concourse if he'd sell and for how much, I want to say he said some where around 750-800... whoops! I think your right Marcel, I'd be very surprised to see this car go under 1m
     
  22. JCR

    JCR F1 Veteran
    Silver Subscribed

    Mar 14, 2005
    6,561
    H-Town, Tejas
    I'm gonna go with Terry on this one. I think there are enough loaded guys in their 50s, 60s, and 70s who will bid this car up because of its provenance. The Dow could drop by half and the uber wealthy are still wealthy. This car for some is a once in a lifetime opportunity in spite of the volatility of the stock market. And those two rich guys with big egos will be Americans despite with our worthless USD.
     
  23. vroomgt

    vroomgt Formula 3

    Aug 23, 2004
    2,115
    Brisbane Australia
    Full Name:
    John ARBA
  24. Marcel Massini

    Marcel Massini F1 World Champ
    Honorary

    Mar 2, 2005
    14,096
    Agreed, but I tried to be conservative. I would love to see the McQueen Lusso go for US$ 1.5 M. Boy, that would be fun.
    Marcel Massini (Off and into the plane now)
     
  25. Marcel Massini

    Marcel Massini F1 World Champ
    Honorary

    Mar 2, 2005
    14,096
    The situation today is totally different than back in 1989/1990. Back then it was mostly financed, today it is REAL cash. Tons and tons of $$$. For some people
    2 Million $ is a lot, for others it is just pocket money. It's all relative.
    Marcel Massini
     

Share This Page