BJ auction sells a 90 for $79K!
I was there yesterday sold a camaro, I my opinion BJ is not the venue for Ferrari. There were a few Ferrari cars that went for under or just slightly over retail and that was due to the vig on both seller and buyer. The folks there are looking for American muscle not Italian supercars. I did great on my car, the Ferraris not so much.
Nothing negative from the description in the link I posted. Only perceived negative is maybe the 50k+ mileage. That's high for some people.
I wouldn't sell a Ferrari there either but people always say watch what cars sell for at auction. An anomaly, could be but it still puts a stain on the market.
BJ is the place to sell trucks/jeeps and resto-mods. It is amazing to see the money that those cars get. I'd have never thought an old Ford Galaxy would fetch six figures! They were a POS the day they were built and still are. To each his own! vincenzo
An 87 TR just sold $172K. Haven't looked it up, but bet it was low miles. One thing that's changed these and even the higher end auctions. People have 24/7 access to sales data on their phone. Last live auction I watched the bidder withdrew his bid because he found the same cars cheaper on EBay!
This is a crazy outlier auction- Friday saw ANYTHING Euroepan sell for about a 20% discount off of the lowest wholesale price- I think the guy from Motoexotica in St Louis bought them all. And every tacky restomod Camaro brought ALL the money.
Yeah, it looked nice. I think its this one: 1987 FERRARI TESTAROSSA - 194397 guess it would be over $180k with buyers premium added.
A little bit after the 90 that went for $79k an 87 with about 38k miles went for $172k + buyers premium of course. A 512 BBi crossed the auction block prior to the 2 Testarossas and was a no sale at $255k, didn't make reserve.
Soooooo, wrong venue with higher miles = low selling price of $87k. Im actually kinda smiling as I write this.....Oh how times have changed from 2011. The 'no reserve' was a mistake on the sellers part. He/She could have got market price by properly listing the car and being patient. By listing it with no reserve, he took a crap shoot and lost. But someone came out a big winner.....Probably a dealer. Edit, well there ya go, Thank you Mean Testarossa. Nice market recovery.
In my mind there is two kinds of cars in pretty much every Ferrari model. Drivers and collectors. There will always be people willing to pay a premium for a very clean low mile no matter what the model. The closer to new the condition the more people are willing to pay. The older they get, the more the gap between driver and collector will get.
Just got back from BJ. Not many cars there that impressed me. Actually left very disappointed with the quality of cars. Lots of mediocre cars. Had to chuckle when they had a 50K mile TR roped off in their special supercar showcase, yet they had more valuable cars out in areas where everyone could just get in and sit and touch.. Not the venue to sell a euro exotic anyway
