You'll certainly be one of the first to know. Attached is a chart I have in my report that compares mileage vs. auction result over the last ~20 months, split out by specification - so pay attention to the red dots (US cars). This same F40 example was previously auctioned by Mecum in April to a higher result ($2.86m including premium if the bid had met reserve), but the reserve was higher and the car went unsold and brought home by the seller. I marked the two results with an arrow. Typically in my observation of situations like this, where a high-profile car fails to sell and then reappears at auction shortly thereafter for another try, the retry yields a worse result - so what happened here is normal. It could be something psychological among bidders, i.e. that the previous failure diminishes the value of the car. I'm sure the seller feared that two no-sales back to back would be even worse, and if you watch the bidding, you can see the reserve was dropped with the permission of the seller when bidding was stuck at $2.3m and nobody was going any higher. Both of this example's results, especially the initial April one, are in line with the rest of the US-spec results, with the August result just kind of on the lower side of them. I didn't personally see this car at either sale, but it's worth noting that Hagerty graded its condition at 3+ (1-5, 1 being best, + meaning a little better than 3), and this condition rating is on the 'worse' end of the spectrum of F40's offered if you look at my condition chart. I do think this car would have sold for more at Monterey last year, which is not a particularly hot take because it *was* bid 300k higher a few months ago. Overall I think something in between the April (2.86m) and August (2.53m) results is a fair result for a US F40 with this mileage and this condition, with this specific example taking a little punishment for being offered so soon after a no-sale. Image Unavailable, Please Login
1991 Euro-spec #87894 with 28,783 km (17,885 mi) will soon be auctioned from England by Collecting Cars. https://collectingcars.com/for-sale/1991-ferrari-f40 Photo Collecting Cars Image Unavailable, Please Login
lovely to see an f40 that has been driven and is much more likely to be continued to be driven for sale
The ex-Walter Wolf 80712, just sold by us, crossing the Atlantic shortly. On the 10th of May 1989, F40 80712 was supplied by Ferrari SpA as a Diretta sale to Elisabeth Kawan of Salzburg, Austria, Kawan was the 1982 Miss Austria beauty queen champion who married F1 team owner Walter Wolf, this F40 was his car. Walter Wolf is known for starting his own F1 team in 1977, then promptly winning the Canada Grand Prix, the Argentine Grand Prix and the Monaco Grand Prix all in that first season, a feat which has never been duplicated by any other new F1 team. Wolf, who made his money in the 70s via his offshore diving firm KD Marine and his oil exploits, was a friend of former Canadian President Philip Trudeau. He was once described by a Canadian government official thus: "we're not exactly sure how much money Wolf has, but we know he has lots & lots of it". More recently, the renowned International Man of Mystery said to a journalist: "I'm not connected, I just know people..." Here below is 80712 doing some demonstration laps on the airfield of Gilze-Rijen during the Wings & Wheels Festival in the Netherlands in 2001. Freshly serviced, said to be one of the best-driving F40s to be supplied by DK Engineering, it goes into a thoughtful & spectacular Supercar collection, and we are proud to have Facilitated the sale of yet another F40. Image Unavailable, Please Login
i have a soft spot for walter wolf - in 1978 i asked for jody's autograph in the pits in monaco, and they invited me into the team mobile home and gave me a coke and chatted with me for about 30 minutes. i was a total f1 nerd kid so it was a magic moment for me.
Excellent. In 2003 I caught up with WW himself via an introduction from Giampaolo Dallara (the man who brought him in to F1 racing), fascinating character!
1990 Euro-spec #86097 is being auctioned by RM in London in a few weeks. 20,967 km (13,028 mi), catalyzed, non-adjustable, Classiche (although currently non-compliant by missing its factory exhaust), a history report from Marcel, partial Schedoni luggage. Estimate is 1,900,000 - 2,100,000 GBP which is 2,339,000 - 2,586,000 USD at current rates. I think the car would have to be in really super condition to achieve the midpoint of that in this market, given the mileage and catalytic converter status. This example apparently was not delivered for the first 2 years of its life - maybe the delivery dealer owner was having some fun with it in that time. https://rmsothebys.com/en/auctions/lf23/london/lots/r0045-1990-ferrari-f40/1403170 Photo Peter Seabrook ©2023 Courtesy of RM Sotheby's Image Unavailable, Please Login
Two things are incorrect here. 86097 was delivered much earlier than the first two years. And I never did a history report for this F40. So much for auction description accuracy. Marcel Massini
Yikes! Pretty troublesome mistake, I wonder what report they are even looking at. Jarrett needs to get the Ferrari catalog writers shaped up!
Some reading might be too young to remember that between 1990 and 1992, the market was heading downwards, perhaps the dealer was waiting for it to come back up!
ZFFGJ34B000089121 is for sale in Los Angeles www.specialtycarcollection.com for $700k more than it last brought at auction.rmsothebys.com more detail here www.classic.com
Optimistic price, as RM's car sold for an amount right in line for the mileage...see attached. I have the RM car selling for 1.875m in my database as well - like Classic - and I pulled that result directly from RM a full 4 weeks after the auction date, not to mention I was in the room for the sale. Here is their site reading as such 3 weeks after auction. Now their site reads 'Sold After Auction' for this lot, interesting. Either a clerical error or the original sale fell through. Canceled sales are a pain for record keeping as they are essentially impossible to reliably track. Image Unavailable, Please Login
Optimistic because it's an adjust & cat car with the miles it has, and also because it's been variously for sale for a long time.
Soft? Don't think so. It's the consignor's expectations that are unrealistic and auction companies that are unable/unwilling to tell consignors and owners what reality is. Guys, stop dreaming. And stop promising the moon. Marcel Massini
