Thoughts on 04892 GT Selling for 297K at RM? | FerrariChat

Thoughts on 04892 GT Selling for 297K at RM?

Discussion in '206/246' started by gbutler, Aug 16, 2015.

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  1. gbutler

    gbutler Formula Junior

    Jun 9, 2005
    542
    Charlotte, NC
    Full Name:
    Glenn Butler
    #1 gbutler, Aug 16, 2015
    Can anybody comment on the condition of this car? RM provided an auction estimate of 375 to 450k and the car only hammered 270 for a 297k sale after premium. This seems awfully low as the catalogue stated 4892 had recently gone thru a "full restoration", history was known since new, plenty of records and documentation, and books / tools, etc. Any comments would be much appreciated as I plan to purchase a Dino GT over the next couple of weeks and was wondering what everyones opinion is of the market for a good GT coupe after what appear to be fairly weak numbers coming out of Monterey (with the exception being the ex-Swatters GT and the GTS that sold the first night).
     
  2. dantm

    dantm Formula 3

    Nov 1, 2003
    1,101
    YYZ, BOS, SFO
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    Dan B.
    #2 dantm, Aug 16, 2015
    Not only that but keep in mind that the seller premium which brings the net to the seller down to what -- $250K?
     
  3. 375+

    375+ F1 World Champ
    Silver Subscribed

    Dec 28, 2005
    12,052
    #3 375+, Aug 16, 2015
    PM sent.
     
  4. Pantdino

    Pantdino Formula 3

    Jan 13, 2004
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    Jim
    #4 Pantdino, Aug 16, 2015
    Why not share with the group?
     
  5. Pantdino

    Pantdino Formula 3

    Jan 13, 2004
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    Jim
    #5 Pantdino, Aug 16, 2015
    This goes along with my post re the GTS at Mecum on which the bidding stalled at $280.

    I didn't watch a lot of the Mecum on TV but very few cars sold and the bids were certainly NOT in "new record" territory.

    Maybe some investors are getting out of the market?
     
  6. MRONY

    MRONY Formula Junior

    Mar 17, 2007
    707
    New York City
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    Mike O.
    #6 MRONY, Aug 16, 2015
    Why is it impossible to find results online for these sales? Does no one at the sales have twitter, facebook or ferrarichat? Whayt century is this???
     
  7. vrooom

    vrooom Formula Junior

    Jan 29, 2007
    448
    #7 vrooom, Aug 16, 2015
    they said the light blue metallic gts was converted from a coupe (if we're talking about the same gts ) it appeared to have flares but not campy wheels. actually bid pretty high considering the conversion.
     
  8. ccferrari

    ccferrari Karting

    Aug 11, 2005
    96
    #8 ccferrari, Aug 16, 2015
    Last edited by a moderator: Sep 7, 2017
    Here are some pictures of it...
    Image Unavailable, Please Login
    Image Unavailable, Please Login
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    Image Unavailable, Please Login
     
  9. schwoo

    schwoo Formula Junior

    Jun 22, 2013
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    Florida
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    Marquette
    #9 schwoo, Aug 16, 2015
    Thanks for sharing.
     
  10. schwoo

    schwoo Formula Junior

    Jun 22, 2013
    845
    Florida
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    Marquette
    #10 schwoo, Aug 16, 2015
    Wait was this the GTS that CNC motors from California had?
     
  11. Pantdino

    Pantdino Formula 3

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    #11 Pantdino, Aug 16, 2015
    Is the lesson to never sell your car without reserve?

    I would never do that.
     
  12. archibald drinkwater

    archibald drinkwater Karting

    Aug 31, 2009
    146
    portland
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    patrick f.
    #12 archibald drinkwater, Aug 29, 2015
    All I know is that I would be a buyer for this car at $297k ! The photos on the auction website look really solid. I guess selling and buying at auction can have negatives for both buyer and seller. Buyer cannot do a PPI and a no reserve seller has to eat it in situations like this if he really only netted $250k after premiums.
     
  13. tx246

    tx246 F1 Veteran
    Owner Rossa Subscribed

    Nov 4, 2003
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    Shawn
    #13 tx246, Aug 29, 2015
    Who ever bought it got a steal. The seller was not happy and can't believe he was agreeable to the no reserve format.

    It was auctioned on The third day of RM and was put up in completion with the Gooding auction.

    I can't tell you how many comments I have heard along the lines, " well, I would have bought it at that price"
     
  14. schwoo

    schwoo Formula Junior

    Jun 22, 2013
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    Florida
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    Marquette
    #14 schwoo, Aug 29, 2015
    Curious, do you know the seller? I think that's a car I was considering, it was at CNC motors in California, they were asking 400+, not sure but very interested to know if it's the same.
     
  15. Pantdino

    Pantdino Formula 3

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    Jim
    #15 Pantdino, Aug 29, 2015
    The lesson is to never put a car up at no reserve. Its like Russian roulette -- no upside.

    Is it not disrespectful on the part of the auction company? The no reserve cars I see at most auctions are the ones the company agrees to take on just to say they have X number of cars on the list and shuffles them thru with minimal time and effort on the stand.

    A Dino is not a driver-level MGB to be treated that way.
     
  16. tx246

    tx246 F1 Veteran
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    Shawn
    #16 tx246, Aug 29, 2015
    Pretty certain that isn't related, but not sure in the owner had it there for some reason I don't know about
     
  17. archibald drinkwater

    archibald drinkwater Karting

    Aug 31, 2009
    146
    portland
    Full Name:
    patrick f.
    #17 archibald drinkwater, Aug 29, 2015

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