Low mileage F40 at auction from odd source

Saw the print ad in the Wall Street Journal this morning:

http://www.redbaronsantiques.com/AV1902.htm

 

Repost. See "USA F40" thread.

Joe
www.joesackey.com

 

Will be curious to see what it fetches in a bidding war (if one develops)....funny to see it listed on an "antique" site !!

 

Sorry, I've just chosen not to follow your personal pontifications in the self aggrandizing "USA F40" thread.

Rob should actually move your USA F40 thread to the Sponsor Forums section.

 

Indeed.

Joe
www.joesackey.com

 

Thats OK.

I just wanted to point out it had been posted somewhere on F-Chat quite a while ago. Nothings wrong with posting it again especially since the event is yet to occur.

And yes it is an odd source to feild an F40...

Joe
www.joesackey.com

 

Well, I suspect some auctioneer is going to get a nice commission check.

 

Agreed. Just made a note to follow up on results. will be a good verifiable source for the true market value of these cars...

 

I wonder if they accept phone bids....has anyone contacted that antique auction place?

 

Yes.

Call Heather on (404) 252 3770 and she will register you. You must register by the 8th of October and the car is a 1991 with 650 miles that has an estimate of $450k to $650k.

Dont forget the other 1991 with 4,500 miles that is coming up for auction at Mecum Auctions this Saturday at 2:10pm which I posted about yesterday on the USA F40 thread (Dana Mecum's personal F40).

Good luck...

Joe
www.joesackey.com

 

what is the scoop on that one? do they have phone bidding also? is the car complete with tools and books etc... do you know anything about that car joe?

 

What I have heard (but NOT VERIFIED) is that this is an enthusiast's car - Dana Mecum's - and is well-tuned with just enough miles to still make it a low-mileage car, but yet its not a car that has just sat that will need going through. Yes Mecum's definately have phone bidding and they will have all the details about the car if youre really interested. www.mecumauctions.com

BTW I should comment that auctions can be a good gauge of what a car is worth, but not always. Sometimes there is auction euphoria or hysteria that can cause a bidding war and then the car is purchased for a price that is higher than the market value. Sometimes the auction is poorly promoted or at an unusual venue and this can cause a lack of exposure meaning that the high bid is insufficient to match market value.

Personally I (obviously) prefer to gauge market value via a transaction that has no forced timeframe to ocurr and this way both seller and buyer can carefully consider the numbers and measure what they think the car is worth, such as in the private sales I participate in. As a result, a deal is only consummated if both parties are happy and concurr on the item's value (often after exhaustive market research) and this is ultimately an excellent guide to market value IMHO.

Joe
www.joesackey.com

 

i have heard that this car is from the Reggie Jackson Collection that did not sell at a high bid of 342,500 at BJ in 2003. I may be wrong, Car had 250 miles then. I will bid on it, wish me luck, but i wont go crazy. It does not have the owner's pouch nor manuals. No one seems to know what services it has had, if any....well, they probably want an arm and a leg for it...I will be anxious to see what it will fetch.

 

what I found to be quite increduclous is the 15% buyer's premium they want for selling the car

 

Welcome to the auction world.

By contrast another option is to engage the services of someone who is both enthusiastic and happens to own these types of cars - I will search privately amongst collectors typically for a car that exists in a collection and is unadvertised, visit the car and inspect it myself, arrange a test drive, arrange a proper PPI with a Ferrari dealer if neccesary, check the car's history & former owner(s)/chassis number & production position/CARFAX/service and recalls etc, organize a sales & purchase agreement to protect both parties, arrange collection and transportation of the car and all its ancillaries and related documents.

5% will cover it nicely, and after all that youll end up with precisely what you were lookng for.

Meanwhile its a lot of fun, I try very hard to give exceptional service as those who retain me know, and relationships with interesting men and fabulous machines are formed.

Joe
www.joesackey.com

 

I should add to the above that I pass on three times as many cars as those that make it to the point of consideration for sale simply by my own process of elimination. It seems that not only are many buyers quite particular, but so am I!

Joe
www.joesackey.com