Why is this BB auction estimate so low? Amelia Bonhams

to draw in the punters

 

If this car is as represented by the auction company and there are no hidden surprises, I wouldn't be surprised if this car sells with a 4 handle once buyer premium is tacked on.

 

Good day All,

Just adding documentation...

Cheers,

Sam


1980 Ferrari 512BB
Color: Red with Boxer Exterior with Tan with Black Insert Interior
Mileage: 13444 KM
Location: USA

Chassis: 34249

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that estimate is absurd. I would be pissed off if it were my car being represented as it sets a low initial expectation and advertising at no reserve gives the seller an unfair potential exposure. this is a big boy car now so bonhams needs to stop playing child like games to bring in the buyers.

 

^^^^^
And to add on... Is it clever or is there some reason that escapes me to not detail a car an auction house represents? Not the first time I have seen this. I find it so strange not to do justice to what appears to be a fine car. It's like sending a super model down the runway with a dirty dress, just doesn't make any sense.

The pricing estimate is odd to anyone who follows this model and market, assuming there is not undisclosed history.

I agree that this car should go for in the 4's. Despite what appears to me to be effortless marketing, this car will bring strong money.

 

I'm inclined to agree. Also I doubt estimates matter much, and it may be a better headline for the result to exceed to the estimate.

 

Lowball estimates seem to work well in drawing in punters, but that one is ridiculous and makes the auction house look unprofessional.

 

Check out Hagertys evaluation pricing guide on these cars and some others price guides. I had to battle with my insurance company (Condon Skelly) to get $250K last November.

Look at Wayne Carrinis BBi for $350K on F40 motorsports website. Not sure if it still exists but it is on there.

I don't believe anyone looking for a Boxer thinks they will find one for under $200K at this point in time, if the car is not a complete mess.

As I have stated numerous times, I'm not in it to make money, but it won't be a bad thing when I'm done enjoying it. However, I'm concerned with valuations for insurance replacement.

 

Bonham's did the same thing with two BBis back in January. Both were estimated under $200,000. One went for $324,500 and the other went for $357,000. The statistics they are using for evaluation aren't current. You would think they would use their own most recent results.

 

Auctions America, who is owned by RM sold a Boxer in August for something like $3xx,xxx

 

Estimates way low. Makes me think something is wrong with the car. This appears to be an example that will get lots of interest from foreign buyers. Original odometer, makes it worth more then average, not well below.

 

I sure wouldn't entrust Bonhams with my cars given the undervaluation in their representation of this car (unless someone there made a serious typographical error).

 

It certainly needs a thorough detail, and maybe a bit more. There is a small dent in the right door at the trim line. Could likely be corrected without paint.
It still looks to be a great original example. Just not as sharp as it could be.
They are only original once, so if this is what you are seeking, it's probably worth $350k for the right buyer.
I wouldn't throw it out of my garage! lol

Mike

 

gary,

this makes sense. even no account realtors are able to use comps when valuing houses coming to market.

pcb

 

Often the catalogue photos are taken months before the auction and they probably only want to detail the car once instead of twice. A car can be a little dirty in photos and usually it will still look clean (although not in this case).

 

gary,

this makes sense. even no account realtors are able to use comps when valuing houses coming to market.

pcb

 

Looks like a nice one owner BB512 with tools, spare, books and records to me.
Sounds like it needs a belt service.
$350+

 

you could use another ploy in the other direction.

Ferrari 512 BB i comme Coupé Sport à Overseal

Selling a BBi for over 1.3 Million Euros (almost $1.6MM for the math challenged) just because it had the belt service could be seen as stretching it. I'd love to see what the seller really looks like...
it must be the RHD feature... lol

 

Tom Hartley is known for finding the best of the best - but that is a bit much

 

Just an FYI, Ferrari of Long Island has a 84 BBi for $429K and a 512M for $549K. It looks like a bargain compared to the car above.

 

I met Tom at Pebble Beach last year. A true enthusiast.
I understand he has impeccable connections so it is no surprise he gets top cars.

 

The car sold today for $359,700 including buyer premium.