F40 Auctioned RM Santa-Monica sold 870K

1992 Ferrari F40 | Santa Monica 2017 | RM Sotheby's

Below low Auction estimates (not counting premium) at $870,000 Anyone see this car? Seems there were some good buys, but who knows unless you really see the cars.

 

Somebody stole it

 

Buyer paid $957,000 all-in.
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Is there a backstory here or is that market now?

 

higher mile cars have been around 1 to 1.1
aftermarket turbos - what does that mean? wld have kept me away.

 

Any other Ferrari results. can't seem to find it online yet.

 

That's good buying in this market.

 

The results don't seem strong, don't forget, it's winter too.
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I saw this car in person 2 weeks ago...it was not in great shape...it has a 360 radio jammed in the dash, speakers in the door...the shop where I saw it did an admirable job of cleaning it up...the facts remain that it has a bunch of aftermarket parts and it definitely showed it's mileage...

 

Did they really sold just 6 of the 24 Ferraris??

 

It's winter in Santa Monica?

That radio and speaker setup looks completely out of place in the F40. I'm not sure why someone would do that to the car...

 

how would you hear it??

i have to wear earplugs with my tubi

 

That auction was a failure. So many no sales.

 

Will be interested to see what the final results show. There were many cars that didn't sell on the block - some were clearly close to a reserve and others clearly had no interest at any price. I'm no expert, but didn't think it had anything do with F-cars or whether a particular car was imperfect in some way.
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FWIW, this car gave evidence that it was not the most loved example of an F40, and it had 16,000 miles.

I think the result was about right for this example.

I'm finding that great examples of the Ferrari Supercars (GTO/F40/F50/Enzo) are strong, the other more prolifically-produced Ferraris, not-so-much.

 

i dont get it - if you are going to put the effort into taking a car to an auction why not remove the radio etc and get it back as much as possible to original. Kind of pisses me off someone would send an icon to auction with a radio like that.

 

Some people don't care, especially @ the point at which they are ready to off the car by public auction.

Yet more evidence that the best cars often change hands via Private Treaty, simply because, they don't need to come to auction and give up 10%.

Also, in a Private Treaty sale, the atmosphere is much more controlled & carefully-considered with ample time for due-diligence & negotiation, so, the resulting numbers are real & unsurprising, with great cars getting what they deserve.

 

i struggle to understand why sellers choose to use an auction house. Outside of being long the drunk sailor option i really dont get it.

 

Awesome,...wish I had a million bucks to blow.

 

Blow? Surely you meant to say 'invest'!

 

I sold my 1990 F40 in 3rd quarter 2013 and I could barely get $1 million in Los Angeles. (perfect car, luggage, service un-molested car ,known history from new 3,800 mile , detailed by Dave at Premiere etc) roll 4 years later same price. All the big players that was the money. I talked to Shelby at RM and Gooding and I could not do any better. The SP500 was at 1650 today 2438. about a 45% increase. My Neighbor in San Antonio , TX back in 1990 paid 1million for his F40, 27 years later same price. (not sure what happened to him though) I guess it is all timing. And since it is winter here in LA , Im going head up to Mammoth to get some skiing in.

 

Indeed timing is everything.

The best example I can convey is a gentleman who after being denied the initial run of F40s @ 1990 - 1992, waited till 1996 to purchase a car at just over $300,000, kept it 20 years till 2016 and sold it early last year for @ $1,500,000.

 

These cars were €250,000 all day long in 2003-2004.

 

My guess is a combination of not knowing the right people (buyers or brokers) for a private party sale, hoping two get two bidders in a bidding war, and the attention of selling a car at auction.

 

Great pics thanks for sharing