Artcurial Monaco

Apparently not a strong sale for Enzo era Ferrari?

 

Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login

 

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

 

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

 

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

 

Which SWBs are for sale now then, Timothy?