Official Countach Value Thread

Exactly my point, why would the auction house allow that to happen when they have control of the deal right now ? There are contracts signed by buyers and sellers to not buy outside the auction so the auction house still has control. Are they going to leave $28k on the table. This is my question ?

 

I wondered how the legalities worked around auctions. What is the statute for this. Hypothetically if this (or any) buyer is soured by the process and throws in the towel, but then 3 months from now in April gets spring fever and has to have to have the car, is it a fresh deal or does the paper trail divert him back to the auction and it's fees? I guess the buyer could simply purchase the car in their spouses name for that matter.

 

The "buyer" was ALL IN at $545k...that was his offer to the house. So
as you can see, no profit for house

 

Ok, I saw you said your car got "a HIGH REAL bid of $530k" so obviously I assumed the BID was during the auction processes while the car was on the block ? Plus 10% cost to the buyer. If I misunderstood, what was the actual final bid on your car while on the block ?

 

The "buyer" was ALL IN at $545k...that was his offer to the house. So
as you can see, no profit for house

 

The LAST bid I heard the Auction say and close the sale at was $580K..but that WAS not a real bid..they ran it up to that, just under the reserve.. Then they within moments, asked me if I would take $530 as that was there LAST real buyer bid, but were cutting him an all in deal... I declined.

As of 6pm tonight. I am taking the car back to Seattle...

 

Thanks, Looks like a real high quality car.

 

Good points Michael.

 

I agree as well. Particularly about shifting values. It's not just Countach values that have fluctuated but also value between variants. As I recall, In 1998 when I was in the market a for a Countach I researched very hard because I made the unique (so may say foolish decision) to do a cost no object restoration on a Countach which ment I would have triple into the car that what it would be worth. There were not many people sending Gary Bobileff countaches back then. As I recall at the time, LP400s and the Downdraft, (rounded bodies, euro configured) were worth about the same. My theory is the lp400 took off first bc of the demographic of the Buyers in the market at the time. But clearly the lp400 separated dramatically. This was different than the relative value difference between variants of muiras (while closing slightly) always had a mature market that separated the variants. The Countach market still has some maturing to do and the gap closure between lp400 and the Downdraft has closed somewhat, and I think that's the combination of market getting more sophisticated and maturing.

 

It might be the right time for owners / sellers to finally understand that Auction Houses are not the ONLY, nor the BEST way to sell a classic car. They have had a fantastic time the last ten years (up to 2015) when selling a car was easy and prices went up from one auction to another. It was also a time that saw newcomers in the classic car market, buying at Auction, enjoying it (or not), and selling it again one or two years after in the same Auction House with a comfortable profit. This is no longer the case, and the limits of big Auctions now appear with the results seen at Scottsdale in a market that tends to stabilize. It's not a speech against Auction Houses, they do a fantastic job, bring rare and unseen cars to the block, but they are not THE solution.

As for the S1 Countach mentioned earlier, I don't know the car nor did I ever see it, but if there were questions around the car, they had to be addressed by the Auction House and clearly stated during the presentation of the car, or better on the catalogue. When you sell a car privately, the buyer will go through the same thinking process as prior an auction, and will sure ask you questions if things have not been said clearly. And if the Auction House did not address these questions (Mileage, VIN stamped, ...) the potential buyer did not have the answers, and thus would not bid.

That said, selling a car at no reserve is a suicide. I don't buy the arguments that a no reserve attracts more people and that your car will blow the estimate just because it is a no reserve. It is the same car with the same specifications that raises the same questions whether it is no reserve or not. Nobody will ever think that a 500 KUSD Countach will sell at 100 KUSD because it is no reserve. And even if such people exist they will certainly not battle to 600-700 KUSD on the same car just because they got caught by the rush of an auction. A no reserve car is only to the benefit of the Auction Houses which rather have a small commission that no commission if the car is bid under the reserve price, and does not sell. This is never to the seller benefit. This is your good and you have to protect it. A no reserve sale is like consigning your car to a dealer and ask him to sell it the best price he can, whatever the price, hoping that it will reach your expectations. But if not, you would have nothing to say to complain. Sometimes the miracle happens, and a car blows its estimate, even at no reserve, but how often ?
There is room for everyone in this market, this is a big thing whether it's Bull or Bear and everybody has the right to chose the way they want to sell their cars. I will just never understand the benefits to sell at no reserve. And I am always surprised by the level of requirements the sellers have when selling their cars through a dealer (which is the legitimate behavior to have) and how these requirements vanished when they sell through Auction Houses.

 

The unknown will introduce reservations with potential bidders.

A few other cars in this price range are also worth looking at.

The Countach is a difficult car to drive.

It is even more difficult for old men to drive the car.

A pecking order exists for the different Countach autos. With a total production number of approximately 1600 cars, it is not a difficult car to locate.

A better idea, is to work with a marque specialist broker, who will find a buyer for you . The broker will tactfully market your car and will give you the opportunity to accept or reject offers. In addition, the broker will protect your car from being over-exposed to the market. The broker needs the commission and has to protect his reputation at the same time - a balanced approach and win-win for both parties.


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Supply and demand set the prices.

In a buyer's market, it is best to fold your cards and excuse yourself from the table .

 

The Countach future market,as stated above,beeing hard to drive by old people,is absolutely depending on the younger crowd,wich from my experience,seem to be a non issue, the yong guys love it.then again,if bought by an older car collector,who does not drive it,then it does not matter,or perhaps makes the few drives even more exiting and hero,ish.( is that a word?) also ,i never understood the auction thing,my car would be adverticed,call me, check it out,scratch and sniff, if you like what you see,then buy it,also a good broker is fine

 

Countach QV. Great condition in a rare combo. $264,000 at auction.

1987 Lamborghini Countach 5000 QV by Bertone | Arizona 2017 | RM Sotheby's

 

A bit tired in person.

 

Seats horribly redone,us bumper needs removal,p7 s wich needs replacing,no pictures of the engine bay,juding on the tires ,this car has sat for a long time,add all this ,not knowing any mecanical issues,car was sold to an internet buyer,who probably knew all the above,with a little luck he will have a nice car in the low 300s wich is market.On another note,Gooding had a red qv 87, on the block Friday, can not find the result on this car anywhere, chime inn if there is info available,thanks

 

Great condition?

 

Euro spec? Farthest from it.

 

Ralf where do I send the check?

 

Joe,

Patience (it's a buyer's market).

Not a check

Other cars

 

I had no less than 3 friends with me in Scottsdale with the desire and means to add a Countach. The truth is they don't yet know enough about the different variants to make an educated purchase. As with all collectible cars, the most sought after variants will continue to pull away as the buyers in the market continue to educate themselves and understand the history and significance of each variant.

All 3 are in their 40s FWIW.

 

John I have been saying this literally for years, I must have half-a-dozen posts on this very subject, the only thing that remains a constant in any market is change, but you have to have your finger on the pulse of the market to understand this.

 

Patience is key.

As time goes on, there is no doubt that most buyers want an unmodified car preferably in Euro spec that is in good condition. The trouble is, there are few of these, and sometimes it takes years to find what you want - speaking from personal experience.

 

Pictures don't tell anything in this case.

 

Granted the auction images are not high-resolution, but, you only have to look at a few to know that this car is not in great condition, so in person it will be less so.