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Monterey car auction extravaganza

Discussion in 'Vintage Ferrari Market' started by Timmmmmmmmmmy, Jul 27, 2015.

  1. GWB

    GWB Karting

    Feb 18, 2007
    209
    Houston Texas
    Full Name:
    Gavin Britz
    I am not the smartest guy but I think prices are flat or slightly down.
     
  2. glabbe

    glabbe Karting

    Jun 18, 2014
    198
    Leonard, Michigan
    Full Name:
    Dr. Gary Labbe
    The 1984 512 BBi, lot number 113, with 887 kms at the Monterey Mecum auction was bid up to $600,000 and "the bid goes on".
     
  3. Christian.Fr

    Christian.Fr Two Time F1 World Champ

    Jun 9, 2005
    20,211
    Full Name:
    Christian.Fr
    Probably to much cars for sale in this 3 days. Bidders pay strong money for good cars only.

    Another question, I wonder me if the milleage of cars are real and certified?
     
  4. 85886

    85886 Karting

    Feb 22, 2012
    134
    Mecum
    458 Italia - sold at US$ 215000 / 232200 inc.
    BB 512i (887 km) - no sale, high bid US$ 600000
    512 TR - no sale, high bid US$ 440000
     
  5. 85886

    85886 Karting

    Feb 22, 2012
    134
    Mecum
    Maserati MC12 - sold at US$ 1575000 / 1701000 inc.
     
  6. 85886

    85886 Karting

    Feb 22, 2012
    134
    Bids aren't bad. Expectations are simply too high.
     
  7. TheMayor

    TheMayor Seven Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    75,202
    Vegas baby
    It means that people are walking out the door.

    The next step is for the auction houses to lower price expectations instead of raising them to get a sale.
     
  8. ferraripete

    ferraripete F1 World Champ

    I think this is correct.
     
  9. 15765

    15765 Formula Junior

    May 14, 2012
    273
    Las Vegas NV
    Full Name:
    Chuck King
    Mecum doesn't draw big money buyers. There bread and butter is local Midwest cars and buyers.
     
  10. glabbe

    glabbe Karting

    Jun 18, 2014
    198
    Leonard, Michigan
    Full Name:
    Dr. Gary Labbe
    Talk about weak prices, a 25th anniversary Countach with 3,553 miles just sold at Mecum for $270,000.
     
  11. VIZSLA

    VIZSLA Four Time F1 World Champ
    Owner

    Jan 11, 2008
    41,186
    Sarasota
    Full Name:
    David
    Thanks.
    Do they tend to get a different quality of Ferrari than than RM, Goodings etc do ?
     
  12. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    Apr 5, 2010
    2,095
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    Timothy Russell
    As other posters have alluded to, Mecum is an auctioneer of the volume selling school and will always make much more money lining up 100 corvette's (1000?) and selling them one a minute rather than offering big ticket items. Too many people have either A - paid a lot for a car and will only sell it if offered more than twice what they are in it for OR B - Just don't want to sell but someone from an auction company called and said we can get a ridiculous amount for your xyz, $5 million or whatever and for Mecum they get a car that can hopefully persuade a few big hitters through the door and if it does or doesn't sell wont really matter a bit.

    Prices do seem to have leveled and that is a very good thing, better than a drop or forming some insane bubble. The very best such as RM's Tour de France should still sell well indeed but the joe average car will not be doubling in price anytime soon. Flippers beware.......

    RM 110 minutes away
    Gooding 50 minutes away

    I can only cover one, so if anyone would like to cover the other or request which one I cover, you have 50 minutes to make that choice

    Cheers
    Mr T
     
  13. ferrari1971

    ferrari1971 Karting

    Jul 26, 2015
    51
    Santa Barbara , Ca.
    I think a lot of those bids are chandelier bidding. The 1989 328 was bought back in late march at Auction America in Ft Lauderdale, for $140k all in by a dealer in Houston , then to sell 4 months later and not take a $45k net profit. A lot of those cars were on that dealers site so I think , they never really had real money on them. I think the prices at Gooding and RM are more real than they are at Mecum. IMHO
     
  14. 85886

    85886 Karting

    Feb 22, 2012
    134
    Mecum
    1989 Testarossa - sold at US$ 122500 / 132300 inc
     
  15. 330 4HL

    330 4HL Formula Junior
    Silver Subscribed

    May 12, 2005
    840
    Vancouver
    Full Name:
    Rick Bradner
    That, and the recent bogus 1967 Corvette fiasco that they sold as "certified"...

    The Curious Case Of The Fake 1967 Corvette
     
  16. TheMayor

    TheMayor Seven Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    75,202
    Vegas baby
    Ponzi scheme

    Look it up.
     
  17. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    Gooding now live
     
  18. glabbe

    glabbe Karting

    Jun 18, 2014
    198
    Leonard, Michigan
    Full Name:
    Dr. Gary Labbe
    Can you provide a link or cable station to view the gooding auction. BTW, it appears that half or the cars at Mecum did not sell.
     
  19. LARRYH

    LARRYH F1 Veteran
    Rossa Subscribed Owner

    Jun 3, 2011
    6,564
    virginia usa
    EXACTLY ., high bid no sale most likely means no real bid the high bid is designed to make buyers believe there was a buyer ready to pay that money..therefore justifying value for the next auction..
     
  20. TheMayor

    TheMayor Seven Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    75,202
    Vegas baby
    The Pebble Beach Auctions | Gooding & Company

    Watch the sheep going to slaughter....
     
  21. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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  22. Randy

    Randy Formula 3
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    Nov 9, 2003
    1,012
    Illinois
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    Randy
    Just started watching, what did the Daytona and Dino sell for at Gooding?
     
  23. TheMayor

    TheMayor Seven Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    75,202
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    Daytona at 700 and Dino did not sell at 330
     
  24. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    Apr 5, 2010
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    Lots 1 - 10
    Description/ High est./ Low est./ Net sale/ Gross sale
    Lot 001 1963 Mercedes-Benz 230 SL $160,000.00 $200,000.00 $190,000.00 $209,000.00
    Lot 002 2001 Ferrari 360 Modena $100,000.00 $120,000.00 $90,000.00 $99,000.00
    Lot 003 1966 Jaguar E-Type Series I 4.2-Litre Roadster $200,000.00 $250,000.00 $180,000.00 $198,000.00
    Lot 004 1974 Ferrari Dino 246 GTS $400,000.00 $450,000.00 Not sold @ $340k
    Lot 005 1995 Ferrari F512M $450,000.00 $525,000.00 $540,000.00 $594,000.00
    Lot 006 1977 Porsche 930 $140,000.00 $180,000.00 $170,000.00 $187,000.00
    Lot 007 1971 Ferrari 365 GTB/4 Daytona $650,000.00 $725,000.00 $700,000.00 $770,000.00
    Lot 008 1971 Mercedes-Benz 280 SE 3.5 Coupe $150,000.00 $175,000.00 $180,000.00 $198,000.00
    Lot 009 1928 Auburn Model 88 Boattail Speedster $275,000.00 $350,000.00 $250,000.00 $275,000.00
    Lot 010 1966 Ferrari 330 GTC $800,000.00 $1,000,000.00 $690,000.00 $759,000.00
     
  25. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    F512M particularly hot at $594k or am I missing something?
     

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