Read on Anamera Updated 2018 January 25 ... The heirs of Pierre Bardinon have informed Artcurial Motorcars that, due to the ongoing proceedings concerning the estate, they are suspending the sales agreement for the Ferrari 275P for Retromobile, signed with the Auction House on 31 July 2017
What the hell is going on with the family that makes withdrawing this Ferrari, rather than going ahead with the sale, the preferred option. Must be continuing questions around the value of the estate and what each individual heir gets as their share vis-a-vis estate taxes.
I imagine they had to pay a handsome penalty to cancel that consignment too. Why would they even consider going ahead with the consignment if there were still that many questions about ownership and taxes? Now everyone is left looking like a fool and everyone lost money.
Not sure that there would be penalties and after all Artcurial will want the chance to offer further cars from the estate so will likely bend over backwards to remain the chosen auction house
That's a fair point, I imagine Artcurial wont just eat all the marketing costs they put into this car though. A stand-alone catalog and hundreds of man hours would easily push the cost into six-figures so far. It'll be interesting to see how this plays out and if they'll offer the car again in the future.
From what I remember of the 335S saga, actually the French Government stipulates a French auction house has to have preference on the sale of assets that are being sold off to pay outstanding tax. So I don't know if they really do have to bend over backwards. On the other hand that preference might mean the penalties are waived in cases like this...who knows? (some here do...)