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Depressed asset values: what effect on Monterey auctions?

Discussion in 'Vintage Ferrari Market' started by Jack-the-lad, Aug 9, 2007.

  1. Jack-the-lad

    Jack-the-lad Three Time F1 World Champ
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    Jun 22, 2004
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    Jack
    With sagging real estate values, turmoil in credit markets spilling over into equity markets, and a world-wide case of financial jitters, what will be the effect on the price of collectibles, especially collectible automobiles? Asset repricing in all categories is well underway. Will this be apparent at next weekend's Monterey auctions? I think it will. What say you all?

    Jack.
     
  2. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
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    Jim Glickenhaus
    IMO the very very top stuff will be fine but everything else will be affected and there is a lot being offered that is not top tier.
     
  3. trashidelek!

    trashidelek! Formula Junior

    Nov 18, 2004
    654
    Spot on, IMO.
     
  4. michael bayer

    michael bayer Formula 3

    Aug 4, 2004
    1,292
    Napolis is right, the number of guys capable of buying unique quality is as strong as ever, I would expect the non unique muscle car numbers to take a hit.
     
  5. kvisser

    kvisser Formula 3

    Dec 11, 2004
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    Ken Visser
    #5 kvisser, Aug 10, 2007
    Last edited by a moderator: Sep 7, 2017
  6. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
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    0502 M is the ONLY 750 Monza without a headrest. It's perfectly restored and factory certified. The perfect Ferrari to go on the Mille Miglia or any other event. This car will sell well, I am convinced.
    Marcel Massini
     
  7. opus10583

    opus10583 Formula 3

    Dec 3, 2003
    1,764
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    Mark
    Stunning.

    What's that sticker on the windscreen?
     
  8. open roads

    open roads F1 Rookie

    Jan 28, 2007
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    Stan
    Napolis is correct.

    There are jitters out there.

    I see a softening market.
     
  9. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
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    Jim Glickenhaus
    I Love these cars. When I was 17 I drove one that had a chevy engine in it at the time. Scary fast. (It has subsequently been properly engined I believe). I like the hump but agree that this one will do fine.

    Best
     
  10. Crawler

    Crawler F1 Rookie

    Jul 2, 2006
    4,995
    Surely one of the most drop-dead gorgeous racing cars of all time, with or without the fairing. Ferrari lore has it that the design was penned by Dino Ferrari himself. I would love to hear the sound of that 4-cylinder at full song!
     
  11. Crawler

    Crawler F1 Rookie

    Jul 2, 2006
    4,995
    Ernie McAfee, who was a famous So Cal dealer and racer in the 50's.
     
  12. Napolis

    Napolis Three Time F1 World Champ
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    Jim Glickenhaus
    I also like the V12 250 one that recently sold at Retromobile.
     
  13. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
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    That is 250 Monza Spider Scaglietti #0442 M owned now by Victor Müller of Holland (Spyker) and you can expect to see it in about 9 days.
    Marcel Massini
     
  14. HeloSixx

    HeloSixx Karting

    Feb 15, 2007
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    Amelia Island FL
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    Ben
    With the value of the American dollar I'd expect to see alot of foreign money buyers.
     
  15. Bryanp

    Bryanp F1 Rookie
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    Aug 13, 2002
    3,703
    Santa Fe, NM
    See an article on 0502M and a 500 Mondial I know in Forza 37 (May 2002) p.52. It explains the car's history, why it does not have the nacelle/headrest and the story behind MacAfee driving the car.
     
  16. erick72pors

    erick72pors Rookie

    Sep 26, 2005
    20
    Can we please stay on topic over the current market situation??
     
  17. Motob

    Motob Formula 3
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    Nov 11, 2003
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    Brian Brown
    Considering that a GTO just sold for 18.5 Million, I would say that the market is not softening just yet. The people with lots of money, still have lots of money. The high dollar Ferraris will continue to rise in price.
     
  18. Tspringer

    Tspringer F1 Veteran

    Apr 11, 2002
    6,155
    Hmmmmmm lets see...

    Real Estate is plummeting, stocks are taking it on the chin and appear very risky, oil prices are dipping (though I would not bet on that long term), the bond market is absurdly volatile and yields are low, the dollar looks terrible over the last several years and would seem to have a bleak future (how far off is monetization of the US debt?)....

    So if EVERYTHING appears to be heading down (except consumer prices of course) where DO people look to put their money?

    At least with a really cool collector car you can go out and drive it and put a giant grin on your face. Try that with a worthless stock certificate or a rental house worth 50% of what you paid for it!



    Terry
     
  19. velocedog

    velocedog Karting

    Jun 6, 2007
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    Jack
    My intuition tells me that soon I will receive an e-mail telling me I have won or inherited countless millions. If anyone wants to buy futures in it, I'll give you a great rate.
     
  20. Bullfighter

    Bullfighter Two Time F1 World Champ
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    Jan 26, 2005
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    Jon
    I'd guess a lot of the fast money made in real estate was chasing muscle cars and marginally collectible stuff. I don't see genuinely rare items like that black LWB CA Spyder going down anytime in our lifetimes. The guys who chase cars like that knew what they wanted long before the rest of the crowd flipped a few condos and thought they were the next Donald.

    Nice! I'm all over this.
     
  21. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
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    Brian
    Totally agreed! There is NO shortage of $$$. Not at all. Next week we will see several new records. Off to the airport now!
    Marcel Massini
     
  22. Tspringer

    Tspringer F1 Veteran

    Apr 11, 2002
    6,155
    I dont need any intuition, I got 3 emails this morning from 2 Nigerian attorney's and 1 Barrister from Sierra Leon telling me I am going to be paid $8 million just for helping them repatriate some money back to the states here! Yipeeeeee I am booking my flights to Monterey now so I can buy some great cars with my new found wealth! ;)


    Terry
     
  23. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
    14,107
    The black one is at Gooding's. And we haven't even mentioned Jon Masterson's red 250 GT LWB California Spider #1451 GT that will be at the RM Auction the same weekend.
    Marcel Massini
     
  24. BigTex

    BigTex Seven Time F1 World Champ
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    Dec 6, 2002
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    Bubba
    Have a great trip Marcel....wave, as you go over Houston!

    As TSpringer notes, often money driven from other markets moves into art and tangibles, that's what drove the last run up.....

    As he also notes, at least you can drive it! LOL!
     
  25. dromer

    dromer Formula Junior

    Aug 4, 2005
    490
    Pasadena, CA
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    Dave
    What side of the value line would you put the McQueen Lusso ? Immune to Asset devaluation . Or gonna take a hit at the Jet Center next Thursday ?
     

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