Monterey auction results, pictures and comments

So far, after Bonhams, RM and first day of Gooding market seems to stay strong.
Only 0563GT of the big lots was a no sale at 3.9M

Let´s see what happens on Sunday at Gooding.

C.-

 

I had a quick look at Russo and Steeles Display lot and saw quite a few nice cars unsold the first night including a 365 GT 2+2 that was bid to 99,000 but had a 117,000 reserve,appeared to be a nice car, they had 2 others 1 in Silver looked nice unsold no details and a very very nice Black car on display outdoors that was to be auctioned later.
I would like to know what it went for if was there. Several early 355 spiders were around 55,000-65,000 surprisingly low. RM had the very nicest cars and it would be interesting to see what they brought, several 275GTBs. a 250 SWB that was perfect, a Lusso, TDF etc. etc. Crowds in Monterey, Laguna Seca, Concorso Italiano were down in comparison to previous years.

 

I only attended Goodings, which showed a market that has softened tremendously, especially for American cars. The first few cars auctioned caused gasps all around, no reserve cars that sold for considerably below the bottom of range. Did not bode well for rest of evening. The few Ferrari's held up a bit better, but nothing to write home about, nothing even pressing top of range. Many European cars below range. Star cars did badly including 3 of Oprahs, one given to her by Travolta sold below range. Many, many unsold lots. Expected European money to repatriate cars nowhere to be seen. Lots of heavy drinking by owners of the cars in tomorrow's auction afterwards!

 

RM's results are now on their website. The Ferrari prices look like most cars sold in the estimate ranges that were given.

 

http://www.finecars.cc/en/editorial/article/news/45-million-ferrari-250-swb-leads-pack-of-seven-figure-cars-at-rms-famed-sports-classics-of-mont/index.html?no_cache=1&tx_ttnews%5BbackPid%5D=224&cHash=a20c9484df

Darren.

 

Interesting results. In the week prior to the auction RM sent me E-Mail with offers of hotel bookings, meals and transport. As I'm not a regular customer of theirs I was beginning to wonder if they were a bit concerned about the auction.

 

To be fair, its important to realize that a large number of the "underperformers" were poorly maintained examples of a relatively common car. That, combined with overly ambitious reserve prices, makes it appear that the market is softening more than it might actually be.

I thought the well presented cars sold rather well. Even when I look at the bugatti collection results - most of those cars had stories and were in need of a restoration, so the results are not really that surprising. One example appeared to be a completely made up car built around a chassis plate, and they still got a million bucks for it.

 

There was a beautiful, black Lusso at RM which did not sell. It had the wrong gear shift knob (!!) but surely that can't be the reason.

 

at rm auction
-lusso, fully restored, reggie jackson brought it, sold for $700k
-275 gtb4, fly yellow, platinum award, $1.750m
-289 cobra, barn find, $500
-250 swb, $4.1m to guy that bought 250 cal spyder for $10m
prices do not includes premiums.

 

That must be the black one I wrote of. When I checked the RM site earlier today, it wasn't posted as a sale but is now cited at $770K. Beautiful car!

 

Was the cobra 500K?

Tom W

 

anyone see if the 5000 Allemano MASER sold?

 

The market is speaking and is still strong. Bottom line , many cars are selling. It's not all doom and gloom.

 

I've posted some photos in the Aussie section:

http://www.ferrarichat.com/forum/showthread.php?p=137951176&posted=1#post137951176

 

Sold @ Goodings- $330K. Beautiful car, absolutely correct automobile. Lot's of poor examples with no reserve at Goodings all night long. What did the Red Countach bring on Sunday? $500K was estimate? What? What about that black 348? STELLAR car I hope it sold.

Sorry guys, the doom and gloom just wasn't there, lots of cars were selling on market and very few no-sales on Saturday. We left after Oprah's cars, for grins. Leno was there for the Buggatis and left empty handed.

 

NO, the 289 Cobra sold for $550K hammer - a lot for that particular car in my opinion.

 

There were some truly beautiful cars that were bid to strong prices. Some of those sold, some had overly ambitious reserves and didn't. At the same time though, there were many, many cars here that weren't nearly as nice in person as they appeared online and in the various catalogs. I came down with a shopping list of a few cars that I was interested in pursuing; however after seeing them in person, I wasn't the least bit interested in them. Rather dissappointing.

 

Gooding & Company: Peter Williamson Collection : http://latimesblogs.latimes.com/uptospeed/2008/08/william-bugatti.html

 

RM results : http://www.barchetta.cc/All.Ferraris/events-stories/events/2008/auctions/monterey-auction-preview/rm-auctions-monterey-feature/index.html

and Bonhams : http://www.barchetta.cc/All.Ferraris/events-stories/events/2008/auctions/monterey-auction-preview/bonhams-butterfield-monterey-results/index.html

 

So as I read that there were 4 Ferraris at Bonhams on the block and 4 no sales.

Anyone care to guess why .... I know that Shooting brakes are an acquired taste and the potential market will always be small for such cars but the N/S for 275's seems odd. Were they poor quality cars ?

 

Do the results includ ethe buyer's premium?

http://www.rmauctions.com/AuctionResults.cfm?SaleCode=MO08

 

Waiting for Gooding to post results. Anyone know how Ferraris fared there? I tuned into the webcast too late to see.

 

Yes, from what I can tell they do for RM. For instance, I think the 289 Cobra hammered for 550K, the yellow 275 GTB/4 for 1.75M and the 250SWB for 4.1M, you will notice these prices are inflated ~ 10% on their site.

 

I was there later on Saturday night (lots 50-74). The gold colored ex-Harrah's 275 GTB sold for about $1.3M (I wasn't writing it down). The 250 GTE bid to $130K and was a no sale. The <2000 mile 400i sold at $50K.

The place was less than 50% full and there wasn't much energy in the room. Cars seemed to be bidding/selling at or below the low end of the estimated range (which may or may not have been realistic).

Does anyone know what the Black w/ red stripe LWB California sold for on Sunday?