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post #1 of 7 Old 08-13-2014, 10:47 PM Thread Starter
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Quail lodge auction LIVE feed

Hi all,

just thought you'd might like to know: the auction tonight at Quail Lodge, which includes 250GTO #3851GT, will start at 5pm PDT (2AM CET) and can be watched live on the Bonhams website if you open an account.

The 250GTO is lot #3 and will therefore be hammered very soon after the start of the auction.

I will be getting up for it, it will be quite something to watch.


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post #2 of 7 Old 08-14-2014, 10:16 PM Thread Starter
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Well apparently the live feed eventually worked but I didn't get to see it. Here is the result. Well below what most people were predicting, but still a decent sale I think.

From USA TODAY

Ferrari tops $38M to set record

CARMEL, Calif. — A red Ferrari set a record Thursday as the most expensive car ever sold auction. The 1962 Ferrari 250 GTO Berlinetta, reportedly one of only 39 made, sold for $38,115,000 including the 10% commission at a Bonhams auction here. Auction officials say the sale easily topped the previous record of any car ever sold at auction, about $30 million for a 1954 Mercedes-Benz W196R F1 single-seat racer sold last year at a Bonhams auction in England. But the GTO failed to meet widespread expectations that it could become the most expensive car ever sold -- period. That record belongs to a Ferrari GTO sibling sold in a private sale last year for about $52 million, according to McKeel Hagerty, a car auction expert and insurer of collectable cars.



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post #3 of 7 Old 08-14-2014, 11:40 PM
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Quote:
Originally Posted by JazzyO View Post
Well apparently the live feed eventually worked but I didn't get to see it. Here is the result. Well below what most people were predicting, but still a decent sale I think.

From USA TODAY

Ferrari tops $38M to set record

CARMEL, Calif. — A red Ferrari set a record Thursday as the most expensive car ever sold auction. The 1962 Ferrari 250 GTO Berlinetta, reportedly one of only 39 made, sold for $38,115,000 including the 10% commission at a Bonhams auction here. Auction officials say the sale easily topped the previous record of any car ever sold at auction, about $30 million for a 1954 Mercedes-Benz W196R F1 single-seat racer sold last year at a Bonhams auction in England. But the GTO failed to meet widespread expectations that it could become the most expensive car ever sold -- period. That record belongs to a Ferrari GTO sibling sold in a private sale last year for about $52 million, according to McKeel Hagerty, a car auction expert and insurer of collectable cars.


Thank you for the Report Onno. Have expectation been too high or was the car to less a representant of the best of the best within it's type ? Probably both.
Will be interesting to see if some indicate this finally as a sign to run towards the Exit door....?! ;-)

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post #4 of 7 Old 08-15-2014, 09:50 AM
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I too would love to know what the 14m difference was between the two cars. Couldn't have been condition. 14m would buy you a pretty good redo.



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post #5 of 7 Old 08-15-2014, 12:28 PM Thread Starter
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Someone who has a reasonable inside line (for instance, he was involved with brokering the Kroymans collection that included a 250GTO) told an interesting story tonight. He said P.P. was offered 52 million for his car because everyone knew he would never sell. He gave an analogy to Nick Mason's car. If Nick was offered 100 million, that doesn't mean the market is 100 million. It just means that someone really wants that particular car and is willing to offer something ridiculous just to get their hands on it. He suggested that is what happened with the P.P. GTO. Therefore, the result for the Violati GTO should not a) be a surprise, and b) be considered low.

We also have to take into consideration that 3851 was not the most desirable GTO out there, not by a long shot. The 52 million car was the bees knees, that makes a difference. 14 million difference? Well that is impossible to say.


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post #6 of 7 Old 08-15-2014, 12:36 PM
 
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$52 million for a car? That's insane! Especially when you think that this amount of money can easily buy you a great castle in Europe, a pretty nice set of cars, bikes, yachts, helicopters and etc. and you could still have some pocket money left....but I guess filthy rich dudes already got this and just don't really care...
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post #7 of 7 Old 08-15-2014, 12:41 PM
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$52 million for a car? That's insane! Especially when you think that this amount of money can easily buy you a great castle in Europe, a pretty nice set of cars, bikes, yachts, helicopters and etc. and you could still have some pocket money left....but I guess filthy rich dudes already got this and just don't really care...
Yes, the remaining pocket money would be that money to use for the follow up costs for 1 months considering your alternative purchasing basket !

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