I saw that RM had three 512 BBis Lot 151, red/tan, <24,500 km - sold for $363,000 Lot 262, red/tan, 17,400 mi, documented history - sold for $275,000 Lot 226, blk/blk, 12,000 km - est. $400,000 to $475,000 From a quick look at the pictures and descriptions the red ones did not look different enough for the $88,000 price difference. Did anyone see these cars or have any insight as to that price difference?
Gooding had a black/tan BB that sold for $346K, and a '84bbi in silver/maroon that sold for $440k. Pretty car.
Why did lot 262 sell for so much less? One thing seems aparent and is interesting, in the USA, BBIs are not selling at any significant discount to 512BBs. Although I am firmly convinced the car market is softening, BBs seem to be coming into their own.
Lot 262 sold too cheaply and was a post sale deal. Frankly there were little things that kept it from doing the money: shields, red rear spoiler, boxer trim should have been black, badly warped dash. Lot 151 was the better car: fully documented history from day one and complete tools, jack, etc which definitely deserved a premium. Lot 262 was the 3rd best BBI at RM, so if the seller was motivated, someone got a great deal. The 365 BB at Gooding was a very nice and original car. I would consider it a 2- car with good potential. I though this was well bought at $495,000.
That wouldn't be because of your screen name boxerman would it ?? The price delta does appear to be narrowing bb v bbi...easy of use (injected) for us lazy Americanos no doubt! Good stuff, Jack
I watch the boxer prices closely out of inerest. Two cars sold last year with lowish mileage that had been inactive for years. Between the sales price and recomissioning these cars would have ended up over 400k. Since then most sales seemed in the 300-350K range. With the softening of the market I expected nice BBis to go to around 250-300k. The 440k car had a famous owner but not necessarily the best provenace or restoration. Still shiney cars with histories sell. Presentation and documentation is everything. Seems like nice BBi's are at 350K still and may have some life in them. Or put another way, if you have less than 500k to spend and want a classic ferrari a BB is you next stop. It is also interesting that there is not really a delta between a BB and BBI. Maybe its because you can still find great unrestored origional BBIs whereas a BB is either ropey or restored.I any event prices are a long way from the 90-110k they sat from the mid 90s to 3 years ago. Cars get reckognised , We saw this with dinos, older maseratis, and now with boxers and aparently 308s. Sometines the market wakes up and gets wise, certainly happened with 308Gt4s when the moved from being not designed by pinifarina to being aGhandini masterpiece that is better to drive than a regular 308. Next in line then are Trs and 355's, and here we see a rise(with infaltion built in) to ocupy the space of the BB and 328s. Next cycle testarossas go to where boxers are now. Maybe 550's play too, somewhere in there mondials get discovered. But after that its all paddle shift and different. So I would say the Trs Mondials and the 355's are the last of the he man ferraris still atainable outside big money buyers.. For all these reasons wind forwards a few decades and BB TRs 308s and 355s will all surprise by being really well valued. Its not just about the stick, rather the whole way these cars feel and drive. In the meantime we get to drive and enjoy.
The gentleman that sold his BBi for $275k had 4 other cars in the sale. He just wanted to cash out and average out a round sum for all his cars and that's what he got. He was not intending to take any of them home. He realizes he sold the BBi and the yellow F512M low. The BBi was a #3 car and the M a #3 car shinned up to look like a #1. But buyers know and can tell high quality cars and those that are far from it.
I was also told that buyers seemed much better informed and discriminating than in previous "frenzy" years. Good sign imho. W
This is definitely true. The results for the Boxers at Scottsdale matched their condition overall. Good results for the educated buyer and seller.
I thought it might be best to summarize the results for those interested. While I didn't do a full inspection of each car, I was able to get a general idea: Lot 151, red/tan, <24,500 km - sold for $363,000 - This was a very nice and original 2- condition car. The wheels did have some scuffs and the seats showed some wear consistent with its mileage. Auctions venues don't always award originality and so although a 1- condition car in preservatn class, the 2- overall condition may have hampered price a bit. A fair result for buyer and seller overall. Lot 262, red/tan 84 BBI 17,400 mi, sold for $275,000. Car had extensive service done prior to auction, which is a positive. Overall condition was a 3+. As mentioned previously, incorrect red lower panels in lieu of boxer trim, red rear spoiler, incorrect shields, detracted from the car. This was a no sale at auction and a post sale deal was made at $275,000. Very well bought overall. It won't take much to bring this car to a proper condition. Lot 226, blk/blk, 84 BBI 2,000 km - est. $400,000 to $475,000 High bid was at $340,000, which would have resulted in a sale of $374,000. The car was a 2+ condition overall and showed very nicely. I did not check the file for documentation, but the listing did mention a recent service. This car was recently at Autosport Designs and was listed as sold, so not sure if this was being resold or was brought by Autosports, who figured they could achieve more bringing it back to their dealership without fees. I expected this car to sell at $374K all in. At Gooding: Lot 57 blk/ tan 80 BB 34,000 miles?- sold for $346,500. Overall a 3 condition car. Did not check file for history but listing says major in 2013. I didn't inspect this car as closely as the others. Lot 139 red/tan3 75 365 BB 4,000 KM - sold for $495,000. Overal a 2- condition car. Older repaint showed very nicely. Mechanicals were thoroughly gone through. Well documented history. Original interior, which was fairly tired - could go either way on keeping for originality or replacing due to condition. There were odds and ends on the car that would need to be redone to get to a top condition, but this was a very nice and honest 365 BB overall. Well bought at the end of the day. Lot 121 84 BBI grigio / burgundy - 28,000 miles Sold for $440,000. Many would consider this a 1 condition car, though I thought the metallic paint was not as well done as I would would have liked to see. A special and rare color combination with AJ Foyt provenance. I think the car sold correctly, save for my concerns with the mottling in the paintwork. At Bonhams: Lot 26 red / black 78 BB. Sold for $253,000 at no reserve. This car has been presented to the market several times over the last 18 months including a recent RM auction, Gullwing Motors, etc. The interior was modified to a Zender package. Those looking for a Boxer in the last year have likely encountered this car before. Not much more to say...
No problem. One other thing to consider is that it was a 100% sell through for Boxers, but for the black BBI which was either recently purchased or a dealer car. Although one sold fairly cheaply, they all were varying condition and they all sold so a good idea of the bottom and top end of the market for these cars more or less.
Interesting, while condition dictates the price, it also seems so does venue is a 2kkms car only gets to 350k while a somewhat questionablyrestored car gets to 440k..
