Artcurial Monaco

Prices took a bit of a hit, 5.1mm EUR for the California, 5.4mm EUR for the SWB. Although 30mm EUROs isnt to be sniffed at. Full details here:
https://www.anamera.com/en/editorial/article/news/artcurial-brings-30-mio-the-w-collection-from-stockholm-to-monaco/index.html?no_cache=1&tx_ttnews%5BbackPid%5D=226&cHash=3e43e04073

 

Apparently not a strong sale for Enzo era Ferrari?

 

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IF they wanted to cash out, 30mm EURO ($33mm USD) is a great payday, and no f*.%ing around. If they wanted to maximise their return perhaps offering the collection through Kidston, Hartley or whoever over a year might have made them a few more million. I also believe we need to remember the glory days of the Ferrari market were 2014/2015 and thats now a decade ago. Further there are multiple examples of any of these cars on the market today which tells us all we need to know.

 

Respectfully disagree. I think that this is evidence of a softening of the Enzo era cars. Porsche seems almost impervious.

 

I think you’ve Hammer Price settings are selected not include Buyer’s Premium (which at Artcurial Monaco were 16% of the first Euros 1,999,999 €, and 12% on the amount in excess).

 

The 2 star cars selling for less then half the high estimate is a sign of a softening market? It’s an outlier unless the two cars had bad histories. Some one got bargains.

 

My 2 ct.
It paints a perfect picture of what today's market is like.
As already pointed out, the peak is almost 10 years behind us and we're finding ourselves in quite a different environment today compared to 2014/15.

Buyers are better educated (and often younger) and money is not as cheap as it used to be. What we see are the consequences, that do not come as a surprise.

I have been wondering why Artcurial chose to come up with such high estimates, when everything is being sold without reserve anyway? If estimates had been a bit more realistic we wouldn't be discussing no, if this was a "bad" result. Did they really expect the 250 SWB and the LWB California to go anywhere near those numbers they had published? Perhaps Mr. Hannah can chime in here. It can't be denied that both cars had their stories and top money commands top quality.

Porsche F-series prices are have been gradually coming down to where they should be for a while now. They've been massively inflated and are now selling at a more reasonable and realistic level.

I hope Artcurial had not given a guarantee for the whole collection. The two Ferraris might have upset their plans big time...

 

Gentlemen:
Please get real. Stop dreaming.
Peak was 10 years ago. That is TEN. World has changed completely since.
The history of a particular car can make a huge, and I do mean HUGE, difference.
The wise thing was to offer all at no reserve (The Scandinavian consignor is not a stupid man). That is the ONLY way and it now allows to read the market.
I say well done to Artcurial.

Marcel Massini

 

Yep. I tried saving the settings multiple times but it wont save. But yes those prices are w/o Buyer premium.

 

Were the 2 300SL better car (history wise) than the 2 250s? Those seem to have fetched high prices/

 

I am floored by the hammer prices on the SWB and Cal spyder. Excellent example of how you need to be in it to win it because if I had known you could get a swb for $5m I’d have definitely bid on it. Just incredible…

 

Have you done due diligence on the SWB?

Marcel Massini

 

Not in depth as I hadn’t planned to bid since they’re typically double the price. I am aware of the fatal crash it was involved in but of course I hadn’t had an inspection done to determine how well the restoration work was performed after the fact. I suppose there’s a stigma with the car now so perhaps that (in part) explains the purchase price. Of course I am also dialed back several years in how I see values of this era car so that’s part of my perception of this one too.

 

This kind of crash unfortunately automatically costs/ruins at least 35% of "regular value", if not more. And one automatically looses the entire Asian market/potential buyers, because those people are even more sensitive when it comes to this kind of history (superstition, bad luck, etc.). Which means another 20% or more.
The restoration is top and outstanding, a really superb car. I love it, despite the history/stigma.
But the market is the market.
At the same time there are several other steel bodied SWB's unsold on the market, how many can the market absorb? If you have the choice between a car with this kind of stigma and one without such a history, which one do you take?

Marcel Massini

 

They did okay, at least one sold 30% below estimate.

28

1963 Mercedes-Benz 300 SL w/hard-top

198.042-10-003198

€2,400,000 - 2,900,000
(NR)

€1,702,000

 

Once again, estimates are just estimates and in many cases totally wrong, basically simple expectations, promises and hopes, by consignor and auction company. On top of that estimates are usually set up six or even more months prior to the actual sale. Tons of things can happen until actual sale date.

Marcel Massini

 

RM are offering #2067GT at Cliveden House in June. It has been rebodied three times but received a beautiful restoration by Carrozzeria Auto Sport circa 2008. . Estimate 5 mm UKP + (US$6.3mm)......

 

As mentioned before, there is (still) a number of SWB's on the market. At least five right now. All at the same time.
How many do you need? Clearly it is a buyer's market, not the other way round.

Marcel Massini

 

At first glance, the Cal Spy , with best in class restoration work was not enough to pull top dollar with replacement block (if I read description properly. ) as Marcel states , every car has its own history and related values.


Sent from my iPad using FerrariChat

 

why are so many on the market? aging owners want out? owners think market is tanking? etc

 

See post #4119 here:

https://www.ferrarichat.com/forum/threads/is-the-bubble-due-to-burst.395802/page-165

Marcel Massini

 

A friend noted that when he was looking for a SWB back in the early 2010s, there were 1, maybe 2 offered across the five years. Late 2014 we saw the 1 of 2 #1995GT offered at H&H as a charity lot, selling for $11.4mm. Late 2014 was the market peak for Ferrari's with prices at Monterey that were 25-50% higher than 2013 and from there on the market plateaued and more recently began a downward slide. Meanwhile fast forward to 2015 and 2016 and several SWBs hit the market, no doubt driven by the fact they were now seemingly worth $10mm, very few selling. Among these were (its a wholly unscientific list but gives you an idea)

2015 Comp '60 1773GT RM NS13.25mm USD
2015 SWB Lusso 3847GT? JD Autos Unknown UKP
2016 SWB Lusso 4065GT Artcurial NS10.1 mil. EUR
2016 2551GT Axel Schuette Unknown EUR
2017 Comp '60 2243GT DK Engineering Unknown USD
2017 Comp '60 1759GT Gooding 13.5mm USD
2017 Comp '60 2167GT RM NS7.35mm EUR
2017 SWB Lusso 2639GT RM NS9mil. USD
2017 SWB Lusso 2985GT RM 8.305 mil. US$
2017 SEFAC/61 2807GT Duncan Hamilton Unknown ukP
2018 SEFAC/61 2845GT Lukas Huni Unknown EUR
2018 SWB Lusso 2917GT Lukas Huni Unknown EUR
2018 SEFAC/61 3005GT Lukas Huni Unknown
2018 SWB Lusso 3107GT Lukas Huni Unknown EUR
2018 SWB Bertone Coupe 3269GT Lukas Huni Unknown EUR
2018 SWB Lusso 3639GT Lukas Huni Unknown EUR
2018 SWB Lusso 3639GT Lukas Huni Unknown EUR
2018 Comp '60 1771GT Lukas Huni Unknown EUR
2018 SEFAC/61 2439GT Lukas Huni Unknown EUR
2018 Comp '60 2163GT RM NS9.5mm USD
2019 Comp '60 2209GT Joe Macari Unknown UKP
2019 Comp '60 1995GT DK Engineering Unknown UKP
2019 SWB Lusso 3695GT Unknown Unknown USD
2019 SWB Lusso 4037GT Gooding $7.6mm USD
2019 SWB Lusso 3463GT Tom Hartley Unknown USD
2020 2563GT DK Engineering Unknown UKP
2020 Comp '60 2009GT William Loughran Unknown UKP
2021 Comp '60 1951GT Cartique Unknown EUR
2021 SWB Lusso 3233GT DK Engineering Unknown UKP
2022 Comp '60 2021GT Gooding 9.5mm USD
2022 SWB Lusso 2221GT DK Engineering Unknown UKP
2022 SEFAC/61 2417GT Private sale Unknown USD
2023 SWB Lusso 2649GT Kidston
2023 SEFAC/61 2973GT Joe Macari Unknown UKP
2023 SWB Lusso 3035GT Axel Schuette Unknown EUR
2023 SWB Lusso 3695GT Tom Hartley Unknown UKP
2023 SWB Lusso 3507GT Gooding 9.465mm USD
2023 SWB Lusso 2667GT Schaltkulisse Unknown EUR
2024 Comp '60 1773GT RM 11mm USD
2024 SWB Lusso 3169GT Artcurial 5.8mm USD
2024 SWB Lusso 2067GT RM N/A UKP
2024 SWB Lusso 2347GT Gallerie Aldering For sale EUR

So suddenly we have had 42 cars sold over a decade, or 4.2 per year. How much can the market take at any one time, many of those cars have been available pretty much throughout the decade and either never sold or having passed from one seller to the next, many hoping to get the $11mm #1995GT sold for back in 2014. If we see prices drop to $4 - 7 million for a ordinary Lusso, $7-12 mm for a Comp '60 and $15 - 25mm for a SEFAC/61 we will see the market appeal to a new generation. I would argue some of the market is driven by the traditional collector now being very old, or dying and driving supply but moreso prices have been way too high for too long.

 

Which SWBs are for sale now then, Timothy?

 

#2347GT at Gallerie Aldering, #2067RM at RM in June and weirdly still advertised by Talacrest, #2667GT at Schaltkuisse and that's just the cars that are publicly advertised.

IIRC Auxtiere & Schmidt displayed one at Retromobile which might be available but isn't on their website. SEFAC/61 #3005GT was shown by Lukas Huni so might be available