Ex-Letterman 330GTS sale price at Mecum

I have been following the four 330GTS cars available in Monterey this year with great interest. Sale prices have been all over the map, with the high number of $2.975M! for the very nice ex-Cantera car at RM and a low of $1.116M for the ex-Medlin project also at RM. The ex-Harrah "Targa car" was a no-sale at $2.3M (+/-) at Gooding - perhaps due to the questionable provenance of the former Targa conversion.

What surprised me is the (apparent) sale of 11179 - the ex-Letterman car - at "only" $1.76M. At face value, it appears to be a desirable, low mileage, late production car with AC, nice paint and it seems presentable under the hood. Not being there for a closer look, can anyone comment on the actual condition and resulting low sale price? Seems like a value, but perhaps this car sat mostly unused and neglected for the last 20 years and needs significant recommissioning? Some clues can be found in the pictures, showing scruffy seats in need of recovering and an apparent last oil change in June of 2016 - as noted by the date on one of the oil filters. Did anyone observe this one up close for a more informed opinion?

 

Marcel - Appreciate you perspective. How many issues would you suggest it presented? $100K worth?

 

$2.975M must be a high water mark for the 330GTS?

 

Then, once again, the market called the true value.