Anyone know what lot 59 (barn find 300SL Roadster) at Gooding sold for? Thank you.
No idea on the 250 cab, although that was concerning. The 275 GTB was reasonable too, as was the Porsche slant nose and 300 SL
If you have access, you can rewind the live feed from Gooding. Opened at $500, took a while to hit $700, finally hammered at $720 / sold at $792,000. Estimate was $900 - 1.1MM
Mean seller gave in to amicable pressure of the auctioneer...may be they did something on fee split...but buyer did not bulge. Correct tactic in this market and for sure if car had not sold, experience shows very difficult to sell afterwards.
I think this particular nicely restored 250 S2 Cab was the right price for right now. The 1984 930 Flachbau had some not-so-subtle modifications in the catalog (intercooler, exhaust) and was a pre-series slant, attributed to the "special wishes" department at Porsche. Without the factory 505 option - which started around 1987 and appears on the Porsche CoA's - it is difficult to verify the factory originality or factory modification on the early slant nose cars. If a pre-505 Flachbau car comes with period "special wishes" documentation it can be verified as authentic; otherwise the conversion could be non-Porsche. I don't think the Porsche factory can verify the authenticity and originality of these early cars now. I do not know what provenance this particular car has with it, but I speculate that, along with the modifications, had some affect on the hammer.
Almost the complete list from RM's sale tonight - I missed Lot 260. Again, all figures note the hammer price or high bid if unsold. 201 - 10k (est 12-22k) 15% premium 202 - 36k (est 25-35k) 15% premium 203 - 30k (est 50-60k) 204 - 55k (est 60-80k) 205 - 52.5k (est 70-90k) 206 - 47.5k (est 50-70k) 207 - 95k (est 90-120k) 208 - 70k (est 100-150k) 209 - 160k (est 140-180k) 210 - 90k (est 100-125k) 211 - 60k (est 60-80k) 212 - 115k (est 100-140k) 213 - 800k (est 1.1-1.4M) unsold 214 - 360k (est 425-500k) 215 - 105k (est 150-180k) 216 - 125k (est 200-250k) 217 - 75k (est 100-150k) 218 - 620k (est 650-750k) 219 - 975k (est 950-1.1M) 220 - 625k (est 700-800k) 221 - 140k (est 175-225k) 222 - 170k (est 160-200k) 223 - 175k (est 200-250k) 224 - 600k (est 500-600k) 225 - 100k (est 125-150k) 226 - 340k (est 400-475k) unsold 227 - 1.0M (est 1.8-2.2M) 228 - 85k (est 120-160k) 229 - 1.1M (est 900-1.1M) 230 - 900k (est 900-1.1M) 231 - 1.275M (est 1.5-2.1M) 232 - 1.6M (est 1.6-2.0M) 233 - 140k (est 175-225k) 234 - 370k (est 525-625k) unsold 235 - 325k (est 375-450k) 236 - 1.025M (est 1.2-1.4M) unsold 237 - 270k (est 240-280k) 238 - 350k (est 425-500k) 239 - 1.15M (est 1.25-1.5M) 240 - 1.95M (est 2.4-2.8M) unsold 241 - 145k (est 200-250k) 242 - 9.0M (est 10.0-13.0M) 243 - 75k (est 125-150k) 244 - 240k (est 300-375k) unsold 245 - 1.25M (est 1.4-1.8M) unsold 246 - 900k (est 1.0-1.3M) unsold 247 - 370k (est 400-500k) unsold 248 - 1.6M (est 2.5-3.5M) unsold 249 - 800k (est 900-1.1M) 250 - 1.0M (est 1.3-1.5M) unsold 251 - 900k (est 1.4-1.6M) 252 - 370k (est 350-450k) 253 - 260k (est 325-400k) unsold 254 - 1.3M (est 1.5-1.8M) 255 - 675k (est 800-900k) unsold 256 - 140k (est 130-170k) 257 - 410k (est 500-575k) 258 - 200k (est 275-325k) 259 - 270k (est 300-375k) unsold 260 - missed (est 350-450k) 261 - 110k (est 160-190k) 262 - 290k (est 325-400k) unsold 263 - 355k (est 300-400k) 264 - 410k (est 450-600k) 265 - 225k (est 250-300k) 266 - 500k (est 550-650k) unsold 267 - 120k (est 125-150k) 268 - 247.5k (est 300-375k) unsold 269 - 115k (est 125-175k) 270 - 60k (est 90-110k) 271 - 65k (est 90-110k) 272 - 72.5k (est 80-120k) 273 - 150k (est 150-200k) 274 - 82.5k (est 85-105k) 275 - 55k (est 40-60k) 276 - 20k (est 30-40k) Sure felt like a lot of their big money cars didn't make it over the line tonight. >8^) ER
Looking at numbers , this is close to a 75% sale and with the previous day and post auction sale , I guess it will be close to 80% sale. From willing buyers meeting willing sellers. Let's forget one minute the estimates which are either the way to stimulate buyers or to test sellers. The important is reserve level or no reserve and cars are selling, even if the level is lower than before . And there is an explanation, unless buyer bought last year, seller is in the money, and as prices ease off, buyers feel they are doing better than before for a car that used to be too expensive. Only when the market crashes, as we have seen after the famous Orion sale in Monaco in 1989 for those who are old enough and have been in the market long enough,,expectations cannot meet sellers. There are then no longer buyers as they are expecting that tomorrow's price will be a fraction of today's price - and indeed it may happen, I bought my Maserati Vignale spyder at 10% of the price paid at auction by the previous owner- and there are no sellers unless distressed or want to go out of the asset class. My take, but as we know it is always difficult to predict, specially the future...is that we are not there, may be yet, partly because the market is much larger than in 1989. There are much more buyers and sellers , it is no longer a confidential hobby with few new massive entrants, it is widely spread market where it is more difficult to have everyone moving at the same time in the same direction , and there are still people who would like to acquire cars that got marginally or progressively out of reach. Now if anyone believe we will get a GTO for 5 MUSD as Brandon got his in the mid nineties,I doubt as there are much more people who would like a GTO and know what it is, and money has also devaluated so much that 5 MUSD in purchasing power is much less today than in 1995. It is not impossible, but it would need an extraordinary combination of events to bring value at this level,, And still 5 M today is a lot of money ,,for an old car!
I agree on most of this. Though it strikes me that a few lots did not sell although the high bid was close to the lower estimate. It is my impression that quite a few sellers needed quite high prices to be in the money. I think the best cars will always sell well. That is why I concentrate only the best example available regardless of the marque. That's the best hedge and I finds this personally rewarding. How exciting to find the absolute pristine untouched jewel, the only no-one else will have ! But when you look at what auctions houses are proposing for sale now, you must admit that the quality of the cars has seriously decreased. Also there are too many auctions. Not enough cars on the market mean that they have to sell what is available, regardless of quality. That can only drive prices down if quality is not here. We will see a confirmation of this or not in the next days with all the Paris auctions coming up.
That assumes the high bid was real and not the auction house bidding up to the reserve? It will be interesting to see how many no sales on the night are turned into sales over the weekend?
We can all spin which ever way we want to read the results and it makes no difference at all to the market. The market is maturing and buyers are becoming more educated and this is good. We had a Daytona that made near enough a world record and other Ferrari's that seems good value. The difference is simple quality of cars. Cars with 9 owners, painted issues and possible clocking are never going to achieve a great price or even market correct price and as I have said before, apart from the headline acts that the houses have 90 % or the cars are substandard and cheap for a reason. Most of the great cars are sold by Private treaty or through high end classic car dealers and this is fact. Auctions are a place to try and sell a sub standard car for a market correct price and buyers and becoming more selective and this is correct. Would any one on these forum sites want to buy a car with a dark to unclear past. I can only speak for the market in the UK but it is very strong, and a lot of high end grade A cars are being bought.
This is another trick that has always annoyed me, as that gives a fake view of how much a real potential buyer would have been wiling to pay.
I couldn't agree more. It is the least good cars that did not make a result, and unfortunately they seemed to be a majority, and buyers are becoming more selective too. Agreed also that the best cars are sold by private treaty, they don't need publicity to sell well.
It's clear globally, that only the very best collectors cars of any marque, will sell well currently. Limited production, low mileage, excellent history, low owners, comprehensively specified or supplied are continuing to attract superb prices - witness the "Gooding" 166MM from last evening. Truth is, there aren't enough "great" cars to satisfy global auction house demand and with prevailing global economic uncertainties, the market either side of the Atlantic is seeing a re-alignment, NOT collapse of collector car values. IMO now is a great time to be upgrading a collection, enthusiasts are better informed, more discerning and very financially savvie..the very best will continue to sell for an excellent price, if it doesn't meet the criteria at the top of my "post", its NOT going anywhere unless vendor financial pressures,dictate otherwise E
I agree with most of this. A pull back is not a bad thing unless everyone on here are investors.. I don't think we will see a major crash but if prices start heading south investors will bail and if they are too much of the market(we don't know this number) the market will go down for lack of buyers. Not bad for most of us as we will get better deals on cars we truly appreciate
