Bonhams Gstaad auction & results

Does any one know how many of these vehicles were estate sales. Typically 30% of the market is estate sales many of these owners are forced to sell due to taxes and estate settlement guidelines in various countries.

 

I think that at least two of the top end cars were estate sales.

 

The Maserati Royale, Autobianchi and the Mondial QV were estate cars, all sold.

 

Speculators are your best friend. When they come in to the market, it's obvious that things are going up. When they exit the market, it's obvious that things are going down.

So simply ask yourself if speculators are coming in to this market, or are exiting. That gives you the obvious answer for where the market is headed.

 

If the idea that an estate sale is something like a "forced" sale, then would the price indicate the theoretical buyer's market price?

 

I haven't followed Maser pricing, but that's the second QV cab sell for under $20k in the last couple of months.

 

to respond to some of you...

the top 2 cars were from the estate of a wealthy frenchman, but the sales were obviously not forced since they didnt sell. but they will be in the next few sales this year i am sure.

i also met francois melcion at the sale. he is the director of artcurial, the upcoming sale in paris. and his eyes were wide. he thought that the upcoming sales in the usa would be far more indicative of the market since the american sellers were already more realistic about the situation. afterwards, i caught up with him and his only remark was that the sellers had been unrealistic. you can bet that at the artcurial sale the reserves will be considerably more realistic.

and as long as we are quoting people...as dennis gartman says frequently, '... for a market to fall, all you need is the absence of buyers...'

and that is what we had. a very very crowded room full of watchers, me included.

 

Ross, did one of the 365BB sell after as the Bonhams site still say no sale to both? Same with thhe Daytona Coupe.

 

my typo in the first list.
the first 365gt bb was a no sale at 160k (this is not a daytona but a bb)
the second 365 bb did sell at 185k and it was a beauty

 

Thanks gentlemen.
And a merry Xmas

 

Ross, when the guy who arrives in the RR Phantom isn't buying...

 

There's no compelling reason to buy...yet.

 

Agreed. I'm not even on the sidelines. have moved to the bleechers...

 

Yeesh. Looks like they spoke too soon!

 

"The 1955 121 LM Spyder by Scaglietti, chassis no. 0558LM, was raced by the late Phil Hill (the only American to have won the Formula One World Championship), "

excuse me, but Mario Andretti might disagree with that statement... (78 WDC w/Lotus)

Frank

 

Guys, there were NO buyers at all, NOBODY was bidding. ALL hands remained in pockets. Seriously. Everything else is wrong. Total buyer's strike. Never seen that before. It was the worst of the Gstaad auctions ever (since 11 years). It has nothing to do with reserve prices or estimates. That wasn't even important. Point is that NOBODY was bidding. Total lack of confidence now. Everybody is PARALYZED. Out of 28 Ferraris 10 were sold. The 275 GTB/4 sold post-auction on Sunday lunch time, I was personally involved. That was also the best car of the auction in terms of quality. It will remain in Switzerland, near Geneva. All three big cars failed (212 Export, 121 LM and TDF). But again: NOBODY was bidding, bids were received from the christmas tree and from the chandelier..........Life goes on!
The world has changed.

Marcel Massini

 

Above $725k?

Or below?

 

Poor old brokers.

 

275 GTB/4 #09617 was sold for Swiss Francs 1'078'627 all premiums and taxes and VAT included.

Marcel Massini

 

Thanks. $978,524 is stronger than I expected. Must have been a *fine* machine.

 

rofl its for sale on Classic driver for over 5 million Aust $s

 

Marcel,

That 212 Export was a nice car. As I dont know the history of this particularly car very well, are there any stories? If I had the time I would have visited the auction, as there where quite some interesting cars.

ciao
Oscar

 

guilty as charged

 

Marcel:

I am confused. Your post said 'there were NO buyers at all, NOBODY was bidding" and then it said that 10 Ferraris sold (and at strong prices).
Please explain.

PremierAM

 

no buyers present at Gstaad... but by phone ? internet ? OK for the 275 sold on sunday, but the others 9 ?