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RM-Sotheby's to auction 290MM – 0626 in December

Discussion in 'Vintage Ferrari Market' started by Peloton25, Oct 19, 2015.

  1. 375+

    375+ F1 Veteran
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    Dec 28, 2005
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    RM accepts very few automobilia consignments, it is virtually impossible to consign something with them unless you are connected. Bonhams and Artcurial do accept reserve automobilia consignments for big dollar items. Ladenburg is the biggest of them all in the field and the entire auction is with reserves.
     
  2. Lusso123

    Lusso123 Formula 3
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    Yes, I know and agree about what RM accepts in automobilia, and I am able to consign with them, that is......if I agree to no reserve, which I don't. So I guess I am connected there, but not happy with the terms of the connection. :)
     
  3. Jasone

    Jasone Formula 3
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  4. 4rePhill

    4rePhill F1 Veteran

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    "The vintage motor is expected to bring in between $28 million and $32 million, and could set a new world record."

    Huh? :confused:

    (From: The most expensive cars ever: Ferrari sells for $38m by CAR Magazine )

    The most expensive cars ever: Ferrari sells for $38m

    "A 1962 Ferrari 250 GTO Berlinetta sold overnight for a record $38,115,000 (£22,528,626) at the prestigious Bonhams Quail Lodge Auction held during Monterey Car Week."

    So unless I'm much mistaken, this 1956 Ferrari 290 MM is going to have to sell for at least $6.2Million over it's highest estimate in order to break the record.

    (Not impossible, but not guaranteed either!)
     
  5. toto70_0

    toto70_0 F1 Rookie

    Sep 14, 2004
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    So really you did not believe in the model yourself.
    You had all in your hands. a model by Michele Conti of the star car of the NY sale at the 10th floor of Sothebys NY. That was winning lottery ticket.
    But hell if you did not believe in that why should the auction house believe in it.
     
  6. toto70_0

    toto70_0 F1 Rookie

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    Did you have number 1 or 2 from the conti models?
     
  7. bobzdar

    bobzdar F1 Veteran

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    If you're in that range, why not bid $39mil just so you can say you have the most valuable car in the world? Seems like in that range it's mostly about bragging rights anyway...
     
  8. Lusso123

    Lusso123 Formula 3
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    Toto_70:

    You must be joking. Your "assumptions" are not only misguided, but also 100% wrong. Maybe you work for RM, or you just love them? You don't have all the facts, not at all. It's a bit odd that you would jump in here and go on the attack..... Why? All I did was post informative and accurate information.

    You do not know me, you do not know my business, you do not know my clients, you do not know what my experiences have been, you do not know all the history of automobilia sales with RM and other auction houses, you do not know anything about me or my business. So it seems rather odd, and honestly very offensive and antagonistic that you would make such firm and inaccurate statements based on Zero knowledge regarding what I have just listed.

    By the way, the Conti model I had was also offered to RM long before they had consigned the Ferrari in question.

    Please note that, even with what you believe are good reasons, there is so much to counter you with. I also wonder if you would be willing to personally risk a loss of many thousands of dollars, that is..... unless you happen to be rather wealthy or very well off. No one can guarantee what you think is a "wining lottery ticket."
     
  9. 4rePhill

    4rePhill F1 Veteran

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    Because even people in that price range don't like to pay any more than they really have to just for bragging rights!

    If that were not true, then the highest amount ever paid for a car at auction would already be massively in excess of £38 Million!

    (There are plenty of multi-Billionare car fans out there who could buy cars at auction for $100 Millions on a whim if they just wanted the bragging rights!)
     
  10. gt4me

    gt4me F1 Veteran

    Sep 10, 2005
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    And who wants to brag that they bought at the top of the market :D
     
  11. El Wayne

    El Wayne Global Moderator
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    Poorly constructed sentence. Try it this way: The vintage motor [car] is expected to bring in between $28 million and $32 million, [yet] it could [conceivably sell for even more and] set a new world record."
     
  12. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    It only takes two determined bidders to set a new record and anything is possible but I reckon the car is simply too niche orientated compared to a GTO or Testa Rossa to do much more than $30 million. I would have it in a heartbeat but that's what it should be worth.
     
  13. Daytonafan

    Daytonafan F1 Rookie

    Oct 18, 2003
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    Don't disagree with you but shows a certain dis-functionality in the market that this car with its provenance and crash free history should be worth no more than the GTO sold by Bonhams with its er colourful history.
     
  14. 375+

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    I wouldn't be surprised if a deal on the 290MM is already in place. If so what will transpire on the block Dec. 10 will be auction theatre.
     
  15. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
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    1 determined bidder and a chandelier is enough.
    Plus: Today's investors buy names, such as "GTO", "California, "Testa Rossa", etc.
    It is too complicated to explain your friends what a "290 MM" is.

    Marcel Massini
     
  16. DWR46

    DWR46 Formula 3
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    I agree with Marcel. Also, the average new Ferrari enthusiast can learn to drive a GTO, California or Testa Rossa. Drivng a 290 Mille Miglia with its non-synchro gearbox and "fussy" engine is a much different challenge.
     
  17. Lusso123

    Lusso123 Formula 3
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    I also agree with Marcel. I think he has succinctly "hit the nail on the head."
     
  18. TTR

    TTR Formula 3
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    :)
     
  19. readplays

    readplays Formula 3

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    Besides, if the whole point of buying is so you can paint it red... this one's already mostly red so where's the pleasure in that(?).
     
  20. Timmmmmmmmmmy

    Timmmmmmmmmmy Formula 3
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    Yes, re-sale red maybe?
     
  21. TT fan

    TT fan Rookie

    Aug 12, 2014
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    In my personal opinion the sale of Bardinon's Ferrari 335 S (February 2016) will "take away" many collectors and bidders from New York toward Paris.
    This Ferrari 335 S is probably a more prestigious and worth car than 290 MM and more desirable for a lot of millionaires.
    Moreover estimate by Artcurial seems correct (change €/$ is also very good for American bidders), meanwhile estimate by RM is a little "optimistic" IMO.
    Unfortunately for RM I think his Ferrari will be sold at lower amount than expected, also due to this reason.
     
  22. mlgtoeng

    mlgtoeng Rookie

    Jul 1, 2010
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    We have had this car in our shop and it is a wonderful piece of automotive jewellery.I have had the immense privelege of driving it and can compare it with all the many great cars we have seen TRC's TR's,860 Monzas,412,GTO's etc and this is a car that I still remember driving very well even though I have the favour of driving great cars most days
     
  23. 375+

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    Well reasoned observations. I would not underestimate RM, they do an excellent job of advising/directing their clients. They are not going to let their NY Star Car flop on the block they will report a strong result.
     
  24. Bryanp

    Bryanp F1 Rookie
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    I am not seeing anything on RM about live-streaming the auction today. I assume that's not an option?
     
  25. piloti

    piloti Formula 3
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