1983 308QV RM Auction Monterey, NO RESERVE

So with fees it was $74,250 right?

 

Oh no shocker.

 

However, you don't see too many and too often at the auctions.

 

You're right...a good 308's value has only doubled in the last 18 months!

 

This was described in the catalogue as a restored (by Marque) example. I would have thought a "concours" car would have brought more money. The ones at Mecum this weekend did not meet auction estimates either. The QV was canceled in fact. And the only one that sold was the 78' for 70k.

 

Isn't that the way that markets can work...there is only so much actual demand (collectors), but when prices start going up the speculators get involved (dealers etc.), and the whole process generates a lot of hype and may indeed bring in some new collectors...but in the long run, just when it seems there's no top to the market, in reality it's already starting to adjust, as the speculators (and collectors) take profits and then the values reach a more stable level....

Heck if I know...I hope 308 values keep going up in large gulps forever, but I doubt they will, (other than by inflation, which is another matter altogether)...YMMV....

 

I may be wrong, but I am sensing a cooling of the collector car market as a whole. Not a crash, at least not yet, but just some weaker than expected prices. Hopefully, I am wrong. I expected more for this car. It certainly had the right color combination.LOL

 

This was the second car up for auction and there was frankly no one in the room when bidding commenced. I can't speak to the quality of the car as I did not inspect it, but auction can go both ways for a Seller. Overall the results were extremely strong across the board. If there is a slowing, it was not evident at Monterey.

 

I agree with this. I'm in Monterey as well, and have been to all of the major auctions. Overall, prices are very strong and sell rate is very high. There is absolutely no sign of a cooling market, if auction results from the last few days are any indication.

 

The 1979 FERRARI 308 GTB that sold for $126,500 a couple of days ago didn't seem soft to me. Neither did the 1978 GTB at Mecum (maybe a grade 3 car) that no-sale'd at $105k.

 

I heard there was a question with the tittle or something like that. Possible theft car?

 

Market isn't cooling... $247,500 after fees for a 76' glass 308 GTB at Gooding Monterey tonight. SOLD

 

Not too bad for US wet sump 😛

 

I love, love, love the 308 but the reality is once they start going for close to 70k-80k they are up a lot of great cars at that price range.

 

Appears the NO Reserve strategy worked against the seller. 1983 model year might have something to do with it as well but I would guess there was at least another $10K in it on the open market. Well bought !