A quick story about unrealistic sellers The night my daughter was born, I was frantically on the phone trying to facilitate the brokerage of a vintage Ferrari, at the $9.5MM price point. We got $500K apart, between the dealer I was helping, and the seller, who was acting on behalf of the family estate. Neither would budge. I was literally holding my wife's hand while she was pushing, and my phone's blowing up, but I couldn't get the two to agree. Well, the dealer said F it, F this guy, I'm out. Then, exactly two weeks later to the day, he sat front row at RM Auctions and was the ONLY bidder in the room, for $7MM+ fees. So, the seller actually only netted $6.3MM. He left $2.7MM on the table over greed, and what he thought the market was. Goes to show you... I love telling that story when people say "Oh, it should sell for WAYYYYYYYYYY more..." Ok, but it didn't, so you're wrong. Now what?
That said, I bet dealers have to deal with some right idiots too. Anyone who have ever been in any kind of client industry knows that some of them are truly strange.
Happy to PM you the involved parties and the car involved. As the seller is a member here and the dealer quite well known...
To be fair when you see the TR dealers I totally believe the story Sent from my iPhone using Tapatalk
Love to see them. Include the offer letter and decline letter. Also you think RM was not getting their money if the car was sold a week prior to the auction. I would like to see RMs valuation as well. This is not a 200-400K automobile you're speaking about.
Lol, an offer letter huh. If you know what deals happen behind the curtains, then you know the scenario is something that happens often. The auction house had nothing to do with the deal. And their valuation was $8MM-10MM on paper, what they really thought is...??? who knows. I will excuse myself for mentioning RM though, it was in fact Gooding, and Scottsdale's 2015 auction. Not to many cars in that valuation field, shouldn't be hard to know which. I did read later though, that part of the reason it did NOT sell for their ballpark was an issue with how it left the factory vs how it was being displayed, and those not aligning.
Okay, no problem. But if you think the auction house was going to just let a 8-10 million dollar sale walk away you're dreaming. Go sign an agreement with one to sell your potential 1.3- 2million commission to them and call them to say you know what I sold it last tuesday. Thank you.
Yes that a great story regarding a rare Ferrari and price. In regards to the value of a testarossa or 512tr are at any given time a person can easily figure out what the value is as there are always enough sales to reflect back on for comps. On a rare car such as the one you are referring to not so much is a big guessing game really. But in your case greed cost that seller alot of money. In regards to these dealers basing their values on other things other than the market, it’s always fun to pull back the curtain and see the wizard lol. These people obviously love the business and helping get clients in their dream cars at a fair price for themselves, wink wink. At least that was the story of the dealer on bat. I believed him. Lol. Hey if I can help their client get back to even and even give them a little walk around money despite the market change I will. I mean that’s what they are asking of us buyers. When I started to think about buying a 512tr last year I talked to several dealers about it and they specifically told me the market was weak and stay away as they may drop more. I smelled blood in the water and dove right in. If any of you can help others here not get ripped off by these people—please do so. Most wont but I don’t want to see anyone here get ripped off. Many of you have a lot of knowledge and need to help. Point out the bad dealers and also tell us who are the good ones based on your experiences. That would be extremely helpful.
I told you the truth. It really is fine if you don't believe me, haha. Ferrari's at auctions are generally placed by dealers that want them gone. They bring them with no intention of hauling them back. Ask Roy Cats. It is next to the poorest way to rate the value of the market. You don't get to drive them or really truly know the background and they are valued accordingly. Whatever one brings on average add 15 to 25% and that will get you close to market. You get what you pay for and there are few exceptions once in a blue moon. Dream all you want but that is a fact. Ask any REAL Ferrari owner and see if they are planning on taking their Ferrari to an auction when they are ready to sell. You will get less than 0% that do because they don't want to take a bath. Very common knowledge and you don't need an elder for that. Buy wisely from a private person or a dealer that bought it from someone with all the books and information that you can contact and verify. You pay closer to market but you will be happy you did. : )
No. There’s one market. Not several. If everyone knows that you only get crap at auctions then there’s the lower end of the range of the market. You’re not as educated as I thought you’d be for someone claiming to know more than everyone else because he’s been on the forum for a long time. Just saying!
Okay, Mr. know it all. That is what I said. My original comments were directed at you guys claiming the auctions were a source of measuring the market and I said its the low end at best and should not even be considered in measuring market value, period. I never implied I knew more than anyone else and you sound like a 16 year old trying to be tough. You are in the wrong place with that kind of behavior.
Good God , man! You don’t like to be challenged, do you?! Please, go and have your hissy fit elsewhere. When you’ve stopped spitting feathers maybe we’ll continue.
Here’s the thing. A market is when a number of sellers connect with a number of buyers. It doesn’t matter whether it’s an auction, a dealer sale or a private sale. Price is determined by a mixture of all. Traditionally, an auction would be at the lower end of the market whereas a dealer sale towards the top. Your telling everyone to remove auctions from consideration of the market is bilge. Total garbage. Clearly you need to spend a bit more time in the forum because apparently you know more the longer you spend on it.
Which is it Jay. Stop or do you keep insulting me and keep the dialogue up? I will gladly stop communicating with you. My pleasure.
Its just time to put a stop to this Jay. You won't so I'm asking for some help from a moderator. Enough is enough.
Guys guys, looks like me on BAT getting attacked for My valuations lol It’s all good this is a great place to chat about market prices Look at me and blkdiablo33, I love him inspire his valuations Make amend please lol Sent from my iPhone using Tapatalk
