Monterey Week Auction Preview

Should be interesting to see how the market looks after all of the Monterey auctions. RM alone is offering something like 25 Ferraris, so there will be opportunities to see if things have firmed up. Here are a few headline consignments:

Gooding Preview:
http://www.sportscardigest.com/archives/8993

1962 Ferrari 250 GT SWB California Spider – Estimate Unavailable.
1958 Ferrari 250 GT LWB California Spider – Estimate $2,700,000 - $3,600,000.
1969 Ferrari 312 Formula One – Estimate Unavailable.
1954 Ferrari 500 Mondial Series I – Estimate $1,500,000 - $1,700,000.

Bonhams Preview:
http://www.sportscardigest.com/archives/8649

1952 Ferrari 212 Inter Vignale Coupe – Estimate $1,000,000 - $1,300,000.
1962 Ferrari 400 Superamerica Series I Coupe Aerodinamico – Estimate $1,250,000 - $1,500,000.
1973 Ferrari 368 GTB/4 Daytona Spyder – Estimate $800,000 - $1,000,000.

RM Preview:
http://www.sportscardigest.com/archives/8362

1952 Ferrari 225S Berlinetta Vignale – Estimate $600,000 - $800,000.
1953 Ferrari 166MM Spyder Scaglietti – Estimate $1,400,000 - $1,800,000. (http://www.ferrarichat.com/forum/showthread.php?t=248330)
1973 Ferrari 365 GTB/4 Daytona Spyder – Estimate $900,000 - $1,100,000.
1985 Ferrari 288 GTO – Estimate $485,000 - $595,000.
1965 Ferrari 275 GTB – Estimate $575,000 - $675,000.

 

Yes indeed, firmed up????.....should be very good viewing, especially to see if the Daytona Spyders will break $1MM.

 

Based on RM Meadowbrook prices aren't firming.

 

Yes, it will be interesting to see the state of the US market for these cars. Much of the recent price quotes on these cars have been from European auctions denominated in Euros, leading to (I think) an incorrect perception of continued strength in US dollar values, since cars tend not to be priced exactly in line with Euro/dollar exchange ratios (e.g., if the dollar/euro exchange ratio is $1.50/EUR1.00, a car that would sell for EUR100,000 in Europe would NOT sell for $150,000 in the US; more like $130,000). This is why the declining US dollar causes collectors to flock to the US to buy cars and vice versa when the dollar is stronger.

 

ok this is just cool

http://www.rmauctions.com/FeatureCars.cfm?SaleCode=MO09&CarID=r195&fc=0

 

The Kruse auction held in conjunction with Concorso Italiano only has 3 cars?

http://www.kruse.com/auctions/monterey09/inventory.asp?AUC_CODE=MONTEREY09

 

That 312T woud make a nice track car.......

 

I deem RM Meadowbrook is bad data.
Meadowbrook, because fairly localized, is not used as a market indicator.

Although, Indeed it was a very weak auction.

I was there.
No sideliner here.

Strenght of the market will be known(perception) momentarily, data available shortly

 

While not directly connected interesting data:

http://www.ferrarichat.com/forum/showthread.php?p=138855465#post138855465

 

I second this comment. The quality of cars at RM Meadow Brook are not comparable to the quality as offered in Monterey. We have seen time and time again that marginal/middle-of-the-road cars are not trading well at all; we will soon have more accurate market information.

 

Agree with observations that the market is increasingly segmenting. New car sales are driven by the current economy and distorted by government manipulation of incentives, etc. Collector car sales are now starting to reflect future expectations. When the coming inflation storm hits and the dollar is in crisis, I'll be happy to have a reasonable chunk of my assets in 50+ year old European classics.

For a broader, deeper and much more uniform market than most vintage Ferraris, look at Series 1 E-type Jaguars. I've never seen higher pre-sale estimates.

 

RM has this amazing 1957 Ferrari 250 GT Boano Coupe, which I saw at the LA Concours recently, stunning! http://www.rmauctions.com/FeatureCars.cfm?SaleCode=MO09&CarID=r349&fc=0

 

I had the pleasure (with Tom S) of judging that Boano at the L.A. Concourse, where it won best in class. It was a well-deserved award.

 

Ed is it the same car that was in the Boston area not too long ago?
It looks quite similar.
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#0641 GT, Barchetta still lists the Boston owner (sorry, was curious and couldn't help jumping in - nice car).

 

As I remember a nice owner as well.

 

I hope you all have your portable jet packs to hover above the traffic jams from the seventh concours to the 9th cocktail to the 11th auction to the.......

 

Very true, but at least you can enjoy looking at the cars in traffic!

 

I spent alot of time admiring the Boano Coupe. It is truly a prestine example down to the Marschal driving light lens and trim! Nothing was overlooked on that restoration.

 

Lots of very nice cars but most of the estimates look way too high and some are very low which indicates a lot of uncertainty with the auctioneers. I think the problem may bee too many nice and interesting cars for sale.

 

A question for the owner of this particular Boano, which I was able to see at the LA Concours. Why are you selling this beautiful just finished virtually perfect restoration ? Does it have anything to do with an expectation of falling values ? (I doubt it) Is there a new more interesting project waiting ? I think some owners do not believe that these cars are meant to be driven, only to the trailer and shown once they are 100 point perfect.

 

Which to is very sad, these cars were built do be driven and not put on trailers.

 

Some people seem to enjoy the process of restoration more than owning the final product. Maybe that's the case here?

 

That's true for some I'm sure. I think some people just end up having too many cars & can't find time to drive them all.

 

The Boano is being driven....from the trailer to the field and back to the trailer. I even saw it being driven to accept the award and off the the winners circle. With as few of these cars left on the planet and even far less in the condition of this one I can see how an owner is reluctant to drive in fear of , well those who don't know how to drive. Myself, if I were fortunate enough to own one there are enough open roads that I know of to enjoy.