This just happen. Sold for $351K https://bringatrailer.com/listing/2009-ferrari-f430-spider-3/ Sent from my SM-G998U using Tapatalk
Wonder if the buyer will follow through? Edit: just read the buyer also has an SE30. Sounds like a serious collector with the means to follow through rather than a random person who got caught up in the excitement.
incredible. simply incredible. these 430 stick prices will for sure bring up the 360 stick prices as well.
This particular car was very rare, practically a one off which helped the price immensely, I doubt it sets a new bar at this stage, though it probably raised it somewhat. It is an 09, low miles, gated, factory CF shifter,, loaded with options, a very rare 2 tone interior (may be the only one?), and arguably the only black US 09 stick. Highly collectible
IMHO it was very typical with many BaT transactions lately...a seller that knows another car dealer who pushes the price as much as possible realizing that someone is willing to go all the way and if by "mitake" they end up winning it they find a way to unload it through another channel. I've seen quite a few in the last 6 months or so. To think that a manual f430 is worth 350k is to me ridiculous...BaT is clearly a seller's market!
That is both scary and scandalous...I've bought a couple of cars on BaT. Do you have any specific examples of this fraud? I am not being sarcastic; I'm honestly curious and quite concerned by your post. Also, I presume that in committing the fraud you described, the "buyer", (the schill bidder) ends up eating the $5000 fee to BaT? I wonder if BaT or their lawyers would be interested in this post?
I said IMHO (in my humble opinion) so I don't know why you think it is scandalous or even think that a lawyer should be involved...I even bought from BaT in the past knowing that I was overpaying. I never said that's happening for sure, just an observation. Have you seen today's bid? I also don't see it as a fraud if the car exchanges hands at the end...
Is it really illegal if two dealers or even two private parties buy up 10 cars of certain type and then put one out for auction bidding it up to the moon between each other?
Pretty sure I saw something like that on a F355 that had 90k miles and sold for bonkers. The end buyer admitted they had just seen the ad pop up that day.
what is illegal? Isn't chandelier bidding legal at auctions? That might be a little different though. Anyway, seems like we've had many discussions over the years and although the gut reactions are it HAS to be illegal, it then comes out by those in the industry how much is legal and commonly done. there is nothing wrong with buying as many cars of a type as you want. there is nothing wrong with bidding whatever you want for an auction car. I guess the gotcha would be "colluding" with another dealer to bid up the price. hard to prove if the dealer who won actually paid for the car and no other transactions between the two dealers (kickback).
It looks to me like what happened on this auction is not unusual and in general not intentional fraud. People are just trying to make a buck on a car they can flip at a profit. Dealers look to buy the car so they can turn a profit as this is a hot market, and then when it reaches past the point of what they would be able to return a profit on, then an individual seller ends up getting it. You can see the dealers were in until they hit their ceiling of being able to flip it for a profit. Sometimes the dealer gets it if there is not enough interest from an individual. Don't see anything strange about that. On the other note, is this a ridiculous price? It is a rare car, it's a gamble they're taking. Doesn't seem any different than paying $250k for a Buick GNX. If I had the money, I would love to have this very car in my collection, would treasure it and it'd likely appreciate.
I agree but I did not allege that this transaction was reached by fraud. I responded to a statement that brought up the possibility of fraud in bidding which is illegal both on stated and federal basis' Certainly the vehicle was unusual and very clean Obviously this brought high bidders to the table
Watching a well known car dealer bidding up to (and beyond) reasonable resale pricing was interesting. The claimed "private collection" qualification could be accurate, but nonetheless a bit odd at this price point.
