First F40 on BaT

Just a quick comment: if anyone is wanting a 30 plus-year-old F40 with significant miles, it's likely to have had a top-end rebuild of the engine.

 

Just hit $1.8M. 2 days left.

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nearly at $1.9 now

 

Less than 60 minutes remain. Any guesses to final price? At 1.875 now. I'm nodding to the BaT effect and going $2.1M. Someone is going to overpay but it will be glorious nonetheless.

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I wonder if there is a reserve


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I'm sure. Probably $200k more than what the selling dealership has into it. It was imported this year by the dealership (whichever one it may be) in Pennsylvania.

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Seems reserve was at 2


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these cars have come a long way

 

Wow..Not selling at $1.960.000 for a 42.000 kms F40 is nuts.

 

40k short. Crazy. I'm sure the high bidder will pony up the money and get it. I wish we knew who the damn dealer was.

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Yes and no… If he’s happy to keep it it doesn’t need the money, 40,000 is cheap to hedge buyers remorse

 

It could be that the high bidder came to the same conclusion you did - there are other options available at ~$2mm.

 

Assuming it was actually for sale and not to “set market” on bat for future listed F40s.

 

+1000000000

This needs to be more widely understood - BAT is a match-making service. It DOES NOT get involved with, or verify, transactions.

 

Bill Noon's car has just over 10k miles (17k km). I'm assuming he's not happy with today's result but his should fetch a substantial premium.

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Why is that? As an f40 owner i look at the bat auction as a massive win.

 

me too.
why? because mileage is no longer the foremost metric.
if you look at all the auctions over the last 2-3 years....i think the value loss per mile was around $80, and now it is almost nothing.
that frees everybody up to drive these cars more and enjoy them, and to spread that enjoyment to a wider audience.

when was the last time anybody drove an f50 or a 288gto, or god forbid, a LaF anywhere other than a car show - where it was probably trucked in and out.
my bias against putting these cars into car-prison for ever is well documented in these pages, and i maintain that view now - drive the damn thing.
they ARE art, but were never meant to just be STATIC art. they were meant to be appreciated IN MOTION.

 

I usually agree with most of what you say but with this I’m 50% there… If this were a US car with 4000 miles and no stories it would’ve commanded much more. Miles still matter, maybe not like they did in 2012 to 2015, but they still do And the lowest mile ones will soften the least during the next downturn, I think

 

RNM means the market is softer than the seller (and BaT) anticipated. For someone who has had the car since it was a 6-figure car, yes $1.9M for a 42k km car is a huge win. For Bill who just acquired the car to sell, who knows what he paid for it.

JR at GT Motorcars had 5 F40s last month. Highest mileage was 11k km and was offered at $2.4. I know for a fact he had at least $2.2 in it. But, it did sell. The market for these flips is softening and mileage is still very much a factor.

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@ttforcefed, pls note what i said - mileage is no longer the foremost metric.
it is still A metric, but it is no longer THE metric.
all the usual variables of maintenance, history, documentation, provenance etc are also in that mix of course. but mileage is just one of them now.

to prove my point, if you look at ALL the recent sales, there is no longer a fixed rule about what mileage costs from one car to another.
it is all over the board with higher mileage cars selling for more than some lower mileage cars and of course vice versa.

to your other point, i do not think USA spec cars are guaranteed a premium to like for like Euro cars anymore.
to some it will make a difference.
to most it will not.
and once again, if you take all recent sales into account, that point is proven as well.

@Moopz , in your case, i think you are on your way to a couple winners, but even within those mentioned, there is no strictly defined value difference because of mileage. other factors are creating that value delta.

 

While a number of factors have always influenced pricing, I would still say mileage is the defining variable when it comes to the top of the market. I would venture to say the most valuable (regular, road) F40 in the world will be a car with a low 3-digit odometer. Now, there are several of those cars around, so other factors will influence the exactly value hierarchy among the examples, but I would argue none of those other variables (maintenance, history, documentation, provenance etc), regardless of how "good" they are, would be enough to make a driver mileage car worth more than a <200km car.

When you venture out of the extreme cases, I will agree - mileage matters less and the other variables matter more. The "right" 20k km car can be worth more than an "ok" 10k km car...

 

your last sentence proves my point

 

Sure... except there is one clear variable when it comes to being the biggest driver of value.

Otherwise, I agree in 90% of cases... And like you, think it's great to see!

 

somebody, probably joe, will come along in a minute to correct me, but, 2 recent sales come to mind that are relevant in this discussion....

a usa model with very lows miles sold at auction at around $2.9 mil including buyer's premium.
a euro model with 9k miles sold at auction at around $2.75 including buyer's premium.

so one can either point to the roughly 6500 miles difference between them, and say that this $150k, or $23/mile, was the major issue, or you can say that the usa versioin is valued higher than the euro versioin, or you could start going through all of it in far greater detail and parse it further.

i guess all i am trying to say is that i dont mileage is as big a deal as it was 5 years ago. and to me this makes sense since nobody asks about mileage in a 275gtb

 

i wonder whether this car will appear for sale in a different venue?