Add 12.5% buyer's premium + 20% VAT on the buyer's premium, to the below. Descriptions and images on the website, these are my notes of prices: Lot 380: F512M (LHD): Est £280-£320k, hammer £240k Lot 321: 89 Testa (LHD): Est £120-130k, hammer £116k Lot 311: 86 Testa, single mirror, colour change (LHD): Est: £80-100k, hammer £85k Lot 384: 91 Testa, (LHD), 55k km, Est: £90-£110k, hammer £80k Lot 368: 90 Testa (LHD), 15k km, Est £110-£130k, hammer £90k Other notables, a LHD 355 with 55k km failed to reach reserve (bid to £49k, reserve £50k); couple of 911s just above low estimate; and the car I was interested in, a 2001 S54 Z3 M Coupe went for a soaring £32,500 (est £22-£25k). Auction house staff (and some vendors!) said they were disappointed, though that depends on your view. The estimates seemed very high (when you add the premium) and generally this was a lot of LHD stock, much of it unremarkable and imported in the last six months by people aiming for a quick buck. Having said that, lots 368 and 380 looked great.
Sold numbers look surprisingly on the lower end especially the 512M which has been white hot here in the U.S. It the premium 10%?
The 512M seemed a very nice example. Interior looked commensurate with low mileage. However it was a Germany to Japan to UK car in LHD. Just over 270k GBP inc premium is quite strong; at Coys in December a higher mileage similar car went for 165k GBP ex premium. A similar mileage one is up for 325k euros I think on mobile.de. I think the US has always valued this car more, for the 75 genuine US cars. M Roadster I was out finding lunch for my daughter while those lots went. On the plus side, she has instagrammed all the Ferraris in the auction, introducing a generation of confused 12 year old girls to the wonders of the flat 12 and others.
The 512M IMO wasn't that nice at all-I know TR's very well after 12 years of ownership. It didn't sell and nor did the black one or the lot 368. The single mirror one was mine and is a fine and totally usable car and good luck to the new owner.
Wow 12 years - just think you could have bought a brand new Murcielago back then for 180k and you still wouldn`t have come away with any more than 80K if you sold it yesterday! I was still dreaming about a Testarossa back then, thinking I have to get one soon while they`re cheap - though it still took me another 9 years to finally get one. Anyway your car always looked awesome in photos. 12 years is a good run, so have fun with your next car! Thanks for the update Darius, hope you had a good day! I watched it online and did post the prices with premium on the current values thread but it`s moved over to a new page now so not visible unless u go back a page. Yeah I can imagine someone being a bit dissapointed at the 512 TR and the 9K miles `90 prices but as you say they were LHD and if you look back a year ago low miles LHD Testarossa`s were 60K ish - and mid miles were around 40-45k tops, so the prices do look strong tbh - but the estimates a bit high. I think every one of those 6 cars (if you include what they would have been with premium if the cars that didn`t sell had of sold) reached double what they would have reached a year ago. Not sure why the 6K miles Red car went so high compared to the 9k miles Gray car - which only reached 10K more than the 35k miles Red car! I guess the rare colour is a turn on for collectors but a turn off for a lot of ppl buying their poster car which 99% of the time will have been red.... Dom.
Maybe just too many LHD Testas in one go at this auction. Silverstone seemed a bit disappointed by both attendance and bidding. But as you say Dominic, still up a lot compared to a year ago. And for me it shows there isn't a craze of people buying whatever they can, which can only be good. I liked the grey one! Didn't get to look at 512M properly as it was locked by the time I arrived.
..and to be honest I was actually there for another car entirely so only cursory look at the Ferraris..
Darius, thanx for nice summary !! May we conclude from that report that the rediculous prices are now getting back to normal ? Is the hype over at last ? ... Do we get rid of all that carbuyers and investors ... Can we now start talking about our cars as hobby again, about maintenance, TLC etc ? I sure hope so ..... Image Unavailable, Please Login
Wow I hope so too! If classic prices go back to what they were 5 years ago, I can start saving up for a 60k Countach and Keep the Testarossa too - best of both worlds! TN, no there weren`t any Boxers at that sale. Awesome pic Mel! Dom.
My sister car sold for $179,800k in US dollars. Thats another jump North with the buyers premimium Vat etc.... I dont know what you guys are talking about price cooling off. Cooling off in Euro prices?
The 512M on Saturday bid to 240k GBP ex. Similar 512M (Japanese LHD, lowish km) at Coys London end of last year sold for around 165k GBP ex I recall. Approximate 100% annualised capital gain in UK 512M market based on these two examples.
Yeah true - and $150k for a 45,000 miles `86, $200k for a 6,000 miles `89 - for the spec and mileage I think these are some of the highest achieved prices so far. Even the $125K bid for the 34,000 miles `91 is up there - but obviously not as up there as the reserve lol. A couple of months ago those were UK RHD prices - though looking at RHD`s now you can see why they are asking so much for LHD.... Dom.
Thanks for sharing. For those of us on the U.S side, here are the converted numbers. Lot 380: F512M (LHD): hammer $369k (total: $421k) Lot 321: 89 Testa (LHD): hammer $179k (total: $204k) Lot 311: 86 Testa, single mirror, colour change (LHD): hammer $130k (total $149k) Lot 384: 91 Testa, (LHD), 55k km, hammer $123k ($140k) Lot 368: 90 Testa (LHD), 15k km, hammer $138k ($158k)
