Bonhams Gstaad auction & results

BOTH.
MM

 

pfffffffffffff, you are right, it's a MASSIVE error...for a company like Bonhams...

 

AGAIN: It is the 121 LM Spider #0558 LM which sold today, post-auction, at Swiss Francs 3.9 M all incl.

The 212 Export Spider Motto 0094 E did NOT sell and the price they indicate on their website (erroneously) would be way above their high estimate......!!!

Marcel Massini

 

ROFLMAO. Suspect the 'Murrican iron" kids will be facing issues. Maybe a Depends concession on the fairgrounds- should make more than the sellers.

 

Who would go NR in today's market?

 

Below is an email I received 2 minutes ago from James Knight, Bonhams London:

""Strange, we had some glitches with the results whilst remote in Gstaad - I'll let our systems people know.
121 was a deal in Euros, it equates to c. CHF 3.9 M.
212 not sold.
Thanks MM,
jk
--
James Knight""


Marcel Massini

 

they have problems with computers.........-))))
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James Knight of Bonhams London just confirmed to me the following POST-sale deals:

Silvergrey 365 GT4 BB #18219 = Swiss Francs 168'000 all up.
275 GTB #06653 = Swiss Francs 900'000 all up.
250 TR REPLICA based on #4275 GT= Swiss Francs 235'000 all up.

This makes 14 sold Ferraris (which is 50% of the 28 Ferraris offered in Gstaad).

Marcel Massini

 

Hello - this is James Knight from Bonhams. I've never blogged before so I hope this comes out OK. I've read with interest the comments re the Gstaad auction and am pleased to say the following.

My take on the Sale: As Marcel has said, it was pretty tough. Being the auctioneer, it was one of the toughest I've taken. I felt we had attracted some fine cars and most seemed to be priced right. There comes a point where any auction house cannot do anymore. Get nice kit; tell people; and see if there's interest. Ultimately it takes bidders to create an auction and there were less bidders this year than previous years. None of us need be a rocket scientist to understand why. We had a big crowd; registrations were healthy although we did not have so many absentee and telephone bids hooked up prior to sale. Volume of absentee/tel. bids can be an indicator to how much participation to expect in the auction room. We sold a lower than average rate under the hammer and we've concluded a few deals post sale, including the 121 and this has obviously enhanced the overall results. One of the previous links runs the press release which gives you some more info.

Our results page: Sorry about this being inaccurate, our IT people are looking at it and I hope it is made right soon. Yes, even big companies like Bonhams are not immune to computer systems playing up.

Results: Only ever regard a sold price as an indication of what a car is worth. That indicates the classic willing seller/willing buyer level for a car. At best an unsold hammer price is 10% above the last real bid as the auctioneer has to 'cap' the last real bid if that bid is under the reserve.

Dinos and BB: Yes we had 4 BBs - 2 x 365; 1 x 512 Carb; and 1 x 512 Injection. Not all duplicates and we tried to give a spread of models. None sold under the hammer, one did just post sale. And we had 3 Dinos - 1 GTS and 2 x GT, so again a bit of variety. Sold two.

So, nice to say hello and seasons greeting to you all.

 

James-- thanks for posting! Interesting info.

 

Marcel j amour! That makes 13 sold Ferraris of 27 (a replica is not a Ferrari)!

 

A BIG THANK YOU to James Knight for clearing things here. Welcome to ferrarichat, James!
James just informed me privately that the 275 GTB was actually sold for Swiss Francs 1'000'000 (deal in UK £ at a sneak over £ 600,000).

Marcel Massini

 

Thanks for the update, and would you consider releasing the absentee/tel bid interest level to the Public at auction-start for subsequent events?

 

Put May 17 in your diaries

 

Interesting question - never thought of it. The answer is no though - half the time the people choose absentee/tel. in order to be discreet. If I have a few absentee bids in my book (known as the auctioneer's book unsurprisingly!) I sometimes say, 'bit of interest here' and start the bidding at higher levels as I don't need to 'find' a bidder in the room.

 

Thanks for posting.

 

LOL!

 

thanks for posting james. interesting insights.
you did a good job for the seller on those last 4 cars

 

Marcel- as always, thanks so much for sharing your thoughts.

James - welcome and thank you for your candid participation. I hope to see more of it.

I understand the sense of disappointment in that things weren't better, but, I can't help but be optomistic even now. I think we can loose sight of just how lucky we are to be able to play in this toy box. Tis the season to take stock of really matters and numbers aren't it.

Wishing all of you a happy and safe holiday season!

 

It was my first time in Gstaad and have to say it was fantastic! Observing so many vintage Ferraris on a number one location is just thrilling. I think the House did a fantastic job, times are a little bit difficult we all know that, but nevertheless sufficient deals were made even if it happened post auction. Please keep in mind on what kind of prestigious level we are talking here. I think we all have to feel very lucky to be somehow connected to all this no matter from which side of the line you're standing. That's why I want to thank all of you first of all for your enthusiasm and devoted passion and secondly for all the informations we are sharing here with eachother.

Grazie e Buon Natale a tutti!!

(I keep a good souvenir of Gstaad 2008; Enzo at the 1954 1000 Miglia and I love it!)

JR
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This Forum is the BEST in the world.

Thank you Mr MASSINI and Thank you Mr KNIGHT

 

+1! Terrific stuff!

 

Welcome Mr. Knight!

 

Just wanted to join in with the welcome, and thanks to all!

I agree it's a great thing to be able to chat with a great group of people!

Happy Holidays to all, help me with decorating this little tree.....