David Letterman collection | Page 3 | FerrariChat

David Letterman collection

Discussion in 'Vintage Ferrari Market' started by KenGoldman, Jun 25, 2023.

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  1. merstheman

    merstheman F1 Rookie

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    Letterman's not a dumb guy by any stretch but I fail to understand his going with Mecum to sell this collection. Best I can come up with is that his are the "star lots" in their auction vs the bigger names like RM and Gooding, and obviously they must've offered him a better deal, but I really don't think some of the cars will fetch top dollar there. Not that it matters much in the grand scheme...
     
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  2. Timmmmmmmmmmy

    Timmmmmmmmmmy F1 Rookie

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    Mecum may have offered him minimums on each lot. Even if they fail to meet their reserve and end up costing Mecum money, what value for publicity and dragging the right people to watch them sell live, and bid. Back in the day we had Worldwide on a Thursday, Bonhams Friday day, RM Friday and Saturday night, Gooding Saturday and Sunday night. Now Broad Arrows are running auctions Thursday and Friday evening, Gooding have switched to Friday and Saturday, RM Thursday, Friday and Saturday and Bonhams their usual Friday afternoon slot so the two prime evenings (Friday and Saturday) are getting very crowded. Even if Lettermans Ferraris convinces 10% of the whales who will be at either Gooding or RM Sothebys to attend their auction (either in person or online), they have won. All conjecture but I am guessing I am not too far off the mark.
     
  3. merstheman

    merstheman F1 Rookie

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    Yeah but the funniest thing is that he isn't allowing them to use his name to sell the cars, which I guess would help a lot with publicity. It seems like a not-quite-there effort...
     
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  4. Jack-the-lad

    Jack-the-lad Seven Time F1 World Champ Owner Silver Subscribed

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    Letterman’s an odd duck. I’m not surprised that this sale isn’t what one might normally expect. He has a reputation for privacy, which is fine…even laudable…but then he sells his cars at public auction…but without using his name….but everybody who matters knows whose cars they are. :confused: I would have expected him to have privately sold the cars through a discreet broker.
     
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  5. Prancing 12

    Prancing 12 F1 Rookie Silver Subscribed

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    As a point of clarification, the cars should more specifically be referred to as ex-Letterman.

    Letterman did sell them privately, through a discreet broker. Mecum bought the cars.
     
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  6. 375+

    375+ F1 World Champ Silver Subscribed

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    KC?
     
  7. Jack-the-lad

    Jack-the-lad Seven Time F1 World Champ Owner Silver Subscribed

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    Thanks. I guess I missed that. It’s understandable that his name would not be associated with the auction in that case.
     
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  8. merstheman

    merstheman F1 Rookie

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    That makes more sense I guess.
     
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  9. Prancing 12

    Prancing 12 F1 Rookie Silver Subscribed

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    There wasn't really anything to miss, as it wasn't announced publicly, which I guess is the objective of discretion. Ooops. :D
     
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  10. readplays

    readplays F1 Rookie

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    It’s okay. We are the keepers of secrets and the sailors of seas over here in Vintage- in the event you needed reminding. :p:D
     
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  11. SCantera

    SCantera F1 Veteran Silver Subscribed

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    Exactly...the Mecum bait and switch.....

    Reminds me of a story a few years ago when a buddy of mine in Naples called me to say that Mecum had a 275 GTB/4 coming up for auction in Kissimmee. He said that he thought the car might be bought for a real deal since Mecum's normal offerings and followers are into American iron and such and Ferrari buyers would not be at the auction.

    I laughed and said....the 275 won't be sold for a "deal" and probably not sold at all. I went on to explain that he would go to Kissimmee thinking on buying the Ferrari and after failing he would end up buying something else. Sure enough a week after the auction I called him and asked him what he brought home. His answer? Another Corvette. Mecum is no dummy......lol!!!
     
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  12. Terra

    Terra F1 Rookie Rossa Subscribed

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    All true (although the 288 GTO went elsewhere).
     
  13. Edward 96GTS

    Edward 96GTS F1 World Champ Silver Subscribed

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    too bad the collection is sold as letterman has a son approaching driving age.
     
  14. Prancing 12

    Prancing 12 F1 Rookie Silver Subscribed

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    Right, though no one was talking about any of the cars other than the ones at Mecum.

    My understanding was there were about 7-10(?) cars that didn't go to Mecum, including the GTO, though I was under the impression the remaining cars weren't being sold, with the GTO being singled out as a "favorite". Did he keep anything?
     
  15. Terra

    Terra F1 Rookie Rossa Subscribed

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    My understanding is Letterman kept the Volvo wagon with the V8 (which is just like the one Paul Newman had), because that’s his son’s favorite car.
     
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  16. Marcel Massini

    Marcel Massini Two Time F1 World Champ Honorary

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    THIS.

    Marcel Massini
     
  17. Edward 96GTS

    Edward 96GTS F1 World Champ Silver Subscribed

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    would “previously owned by Letterman” be better?
     
  18. JohnnyRay

    JohnnyRay F1 Rookie Silver Subscribed

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    Looks like the 330GTS last had an oil change in mid-2016 - if I'm viewing the marking on the oil filter correctly. One could make the assumption that these cars have been sitting for quite some time...and may be in need of some recommissioning...
     
  19. Frank_Ford

    Frank_Ford Karting

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    Mecum moves it from auction to auction through the year. After not selling in Monterey in 2024, it's looping back to yet another try in Kissimmee in on 11 January 2025. (Mecum has a bunch of Ferraris that are kind of "travelling roadshow"...)
     
  20. JohnnyRay

    JohnnyRay F1 Rookie Silver Subscribed

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    Mecum has a handful of other Ferraris that have been on their circuit for a number of years without selling. At least a few of them are reputed to be in tough shape...
     

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