456 M GT - RM Auctions Arizona

So, the black one (Bonham's) went today for $100k ($110K incl fee). The blue one (RM) will have to really have the transaxle drop out on stage for your dream to come true. But I get it, I really do....

 

Yeah I wouldn't have thought that black car would do 100 grand. I guess people finally woke up to the fact that they ain't making any more gated V12 ferraris.

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How much did the Sotheby's one go for?

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The RM Sotheby's car just went for $135k before buyer's fee.

Woof!!

 

RM Sotheby's fee is 10% so neglecting any local taxes, the cash out on the car was $148,500. As was mentioned in the thread on the black car sold by Bonham's, it would appear that the 456 market is taking on a bit of a new life.

 

I tend to think as I said the price is reflected in the mileage and it was a Hi end Auction, but a great result none the less

 

where does that put the same exact car but in automatic?

 

Nice result.

Only about 300 manual 456M cars were imported into the United States. This is a car whose time is just about due.

Full disclosure: I own one of these; and besides it being a beautiful machine, it is an amazing drive. I've commented elsewhere that the car is in just about every way better than a 575M, and I've owned both.

 

I now officially liken the talk of a bubble bursting in the Ferrari market akin to Mark Twain's "the reports of my death are greatly exaggerated".
It did not meet the (highly put) estimate though.

 

Final cash out was really close to the bottom of that really high bid estimate. And I watched the auction over a pretty good sampling of the lots. The hammer to low bid estimate ratio ran pretty consistently around 85-90%. The 456 went right at 90%. 99% when you add buyer's fee.

Only saw a half dozen or so cars exceed the low bid estimate and only one or two cars that went out the top end. Seemed to me that RM was pretty well aware of what things were going to actually go at and set the estimate range to encourage magnanimity!!

I think we all would have been STUNNED if that one had gone at $225k!!

 

£118k was $180k in Feb 2015 money for this ultra low miles RHD example.

https://www.silverstoneauctions.com/1999-ferrari-456m---400-miles-from-new

 

There were only 33 UK RHD 456M GTs, so that one was pretty rare.

 

It's certainly far from a poor result. More expensive, only when new. In my country it sold for nearly €270.000: Ferrari 456 M GT specificaties | Auto vergelijken - AutoWeek.nl
This was of course almost 20 years ago.

 

Don't know where you're getting this- I believe it might be more like 40 cars...

 

Moe, I kept track of this conversation when you and Taz were trying to come to some agreement over this number....even agreement over a reasonable range for the number.

Taz showed NHTSA data for 317 456Ms being imported to the US. This is in pretty good agreement with the usual ~25% of Ferrari production of any given model that goes to the US (at least in that time period, 25-30% was pretty steady).

Then the big question is what percentage were manual. He thought they were pretty much even up, so that would be roughly 155-160 or ~31-32 per year.

You said you had seen some data that said it was only ~10% so that would be 32. Spread over the 5 years, that would only be 6-7 cars per year. That seems too low to me.

You also posted an Autoweek article that implied (pretty explicitly) that manuals would be ~30% of the US shipments. Thus, 92 cars over 5 years, or 18-19 cars per year. Likely there were more in the first years when the model was fresh and lesser when the model was running down to being replaced by the 612. So maybe 25 in 1995 or so and down to 12-15 or so in the last year, 2003.

Sorry if I have been stalking you gents but I have been paying close attention as I had some intentions. Those bore fruit last week as I purchased an '03 456M GT in TdF with Beige Daytona blue insert seats and blue dash and wheel. Mileage is <11k. Promptly watched the Bonham and RM Sotheby auctions with great interest and cheered wildly when both exceeded expectations....particularly Friday night with the 5k mi TdF manual!!

 

A Positive result! It will be interesting to see if this flows around the globe for 456M and the market in general.

 

Each to his own................

I currently own and drive:

a) an 02 575 with paddle shift.
b) a 1999 456 with auto
c) A 1995 456 WITH 6-SPEED.

I enjoy all three for different reason,
and each has a particular driving assignment.

The 575 is, beyond question, the best car.........

Scott

 

Did u buy the 456m from long island?


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Yes, I did. Last week just before the auctions. The car does have a few things that need doing but the auctions sure were encouraging that there is so very little down side risk.

And the upside, driving the car, is simply fabulous.

 

Congrats! Now for some pics please!

Cheers!

Ruben

 

Yep. I am pretty excited. It has been a long time. Last one was a 250 GTE my brother and I brought back from Italy in the mid-70s. The new one is having a major done so I should get her in about a week and then if the New England weather cooperates and she can come outside (!), I take fresh pics.

 

I seriously doubt this will end up my favorite picture, but it is my first picture and will always make a nice delivery story. My new 03 456M GT showed up this morning charmingly encrusted with ice from the 1" ice storm we had last night. Open transport has its failings...

She is however, tucked away and will be safe from the 8-12" of snow expected tomorrow.

More pics will undoubtedly follow, probably never another one that involves ice except in a glass.
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