Depressed asset values: what effect on Monterey auctions?

Lusso are just short of joining the 250GTO and 250SWB....that's a blue chip fo' sure!

Steve McQueen's SUNGLASSES brought huge money, for Pete's sake.........

 

Just checked my e-mail looking for that fat inheritance/lotto winnings/money laundering from Nigeria thing and all I got was this:

"You have a big heart but a small penis, make the two things big with Penis Enlarge Patch."

 

I saw this one in the RM bidders catalog, excited to see what it goes for. Any guesses Marcel?

 

How to get one of those bidders catalogues?

Cheers

ken

 

I just called RM, they wanted $100 bucks for a catalog. A bit pricey to look at pictures.

cheers

ken

 

Anyone know where his NART spyder is? It s/n 10453 I think but not sure. Marcel do you know?

 

They usually run about $50 at Keels and Wheels with a non Bidding pass into the tent..

Not just pictures as they usually have great history of each model, the one for the Factory Auction two years ago was a darn history book! I printed the whole thing off online.....

That Benjamin is how they separate the wheat from the chaff.

 

They do have an online catalog too. I believe the catalog is included with being a registered bidder, but the official catalogs are beautifully put together.

 

Since many years in private collection Laurel Hollow/NY.
Marcel Massini

 

The online catalog of Gooding's is absolutely identical to the paper one. VERY nicely done, really professional, modern, fresh approach. RM also has an online catalog, besides the printed one.
Marcel Massini

 

1451 GT will make US$ 4.5 M. Or north.
Marcel Massini

 

The Lusso is just sensational. The provenance is fantastic, it is extremely well documented, owner Mike Regalia did a wonderful restoration job (he used to work for the Jack B. Nethercutt Collection in San Sylmar/CA for over 25 years and ended up as their President). Highly unusual color, all matching numbers. Car has won several Platinum Awards and other top wins. The Steve McQueen factor alone is HUGE. This car is not just interesting for Ferrari guys, it is equally important for all McQueen enthusiasts/collectors. It clearly appeals to several different groups of collectors. Christie's did an outstanding job with the promotion. And the car has been featured in magazines all over the planet. I am convinced that this Lusso will sell for US$ 1.2 M, all in.
Marcel Massini

 

That's WAY more than 3.9 for 09437. It'll be entertaining!

 

Even for us sheep, the DOW is still up 6% for the year, NASDAQ is up 5% for the year, commercial real estate is healthy and many, many working executives received record bonuses last year. If you count just the 946 billionaires in the world, their assets total 3.5 trillion dollars; do you think they really care? The dollar sitting at an all-time low against the Euro could be huge factor if foreign buyers show-up.

 

Based on what I've read here, the time may have come for me to let go of the Dodge Dart Slant 6. I was hoping it would continue to escalate in value, but perhaps it has finally peaked. Don't want to take it in the shorts on this one.

 

Yep, it is time......

 

I clearly have nowhere near as educated nor knowledgeable foundation for taking a crack at this... but I think you are low. I think McQueen's Lusso will go north of $1.5M. McQueen was one of the most popular movie stars EVER, particularly for guys, throwing that on top of one of the nicest Lusso's on the planet and it there is no telling how high it could go if they get 2 really rich guys with big egos and a McQueen fetish into a pissing match over the car.


Terry

 

I still feel that many Ferraris are under valued. Take a 250GTE, the same basic set up as the million plus Ferrari 250's, very attractive, well built and super rare after all of the cannibalizing for around the $100,000 mark. Compare this to Muscle cars and it looks like a bargain.Take a 365/512BB, tons of performance, great looks and killer noise for for less than a Porsche 911RS?
I think that some Ferraris are tapped out, I cannot imagine the early street cars going much higher, over $500,000 for a Boano? Dino's are not that hard to find and don't offer tons of performance so at $150-200,000 they have peaked. Seems like some of the early 166/212/250 street cars wont move too much as they are not too thrilling but most everything else should move up.

 

presumably though this is a one off and will not affect the lusso market as a whole ?

 

great lusso's are just hitting the $500k mark. this car is great, the real question is what will the McQueen provenance bring in addition to? i don't doubt what marcel says, mainly because he has a greater inside view than most of us will ever have. frankly, had he not posted that, i was figuring the car would be in the $800-900k range. why? because it's McQueen's car and because of the level of restoration.

but then again, i never would have thought his sunglasses would sell for $70k.

based on all the market specualtion today and going into next week, the uncertainty is great. when considering the volatility of the stock market and the international credit/mortgage shakieness, the auctions are just as likely to go good as bad. good if people look for other avenue's to place their "profits", bad if they haven't already capitalized on their profits.

a true and real story. what scared me was when a real dealer told me the story of a male nurse in california that makes less than $100k annual income. he refinanced his home, took the equity and bought a 275 gtb/4. this happened mid-late last year. clearly a good deal for him at the time. it also shows how unstable the equities markets are.

whether HE defaults or not isn't the point. it is the fact that there are so many more like him.

i am not so much worried about the arm and sub-prime ordeal on the people making their notes. it's all the fraud that took place that has delivered us to where we are. i can't say at what level the fraud will start to expose it's head (maybe it has already happened), however, the fraud will dictate the market.

if anyone questions this, just look at the "redline"/eddie griffeth enzo situation.

i too believe that real money will be on display at the auctions. however, i have to question how much "built up" money will come to light. i really feel that this is the reason, amoungst other things, we have seen the barret-jackson results we have over the last several years. muscle cars are going to lose "muscle", where as cars with international appeal will make up for the lack of demand for cars that have the same, international appeal.

 

I asked Mike two years ago at the Amelia concourse if he'd sell and for how much, I want to say he said some where around 750-800... whoops! I think your right Marcel, I'd be very surprised to see this car go under 1m

 

I'm gonna go with Terry on this one. I think there are enough loaded guys in their 50s, 60s, and 70s who will bid this car up because of its provenance. The Dow could drop by half and the uber wealthy are still wealthy. This car for some is a once in a lifetime opportunity in spite of the volatility of the stock market. And those two rich guys with big egos will be Americans despite with our worthless USD.

 

Interested to hear your opinions.

http://youtube.com/watch?v=rOVXh4xM-Ww

 

Agreed, but I tried to be conservative. I would love to see the McQueen Lusso go for US$ 1.5 M. Boy, that would be fun.
Marcel Massini (Off and into the plane now)

 

The situation today is totally different than back in 1989/1990. Back then it was mostly financed, today it is REAL cash. Tons and tons of $$$. For some people
2 Million $ is a lot, for others it is just pocket money. It's all relative.
Marcel Massini