Scottsdale auction results - the game has changed! - Ferrari Life
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 44 Old 01-21-2013, 01:38 AM Thread Starter
Owner
 
JazzyO's Avatar
 
Join Date: Feb 2007
Location: The Netherlands
Ferrari Life Posts: 6,392
Scottsdale auction results - the game has changed!

Truly amazing auction results last weekend. Prices below all including commission.

I think the $737,000 for the 330GTC is most shocking, but several others are truly staggering as well:

250 Cali LWB Spider - $8.25M
F50 - $1.375M
246GTS - $506k
275 2cam - $1.350M
365GTC - $726k
330GTS - $1.0M
250 Boano - $850k
250 Europa - $1.017M
330 GT 2+2 - $250k
246GTS Chairs and Flares - $375k high bid, no sale


Enzo (3k miles) - $1.485M seems reasonable in this frenzy.

Scottsdale 2013 Prices Realized | Gooding and Company
Results - Arizona 2013 | Classic Car Auctions | RM AUCTIONS

The biggest question is - how does this affect European prices?


Onno



Never pay again for live sex! | Hot girls doing naughty stuff for free! | Chat for free!

Future: No idea
Present: 458 Italia, 550 Maranello
Past: 365BB x 2,
330GTC
JazzyO is offline  
Sponsored Links
Advertisement
 
post #2 of 44 Old 01-21-2013, 02:44 AM
Owner
Elite Member
 
Join Date: May 2010
Ferrari Life Posts: 3,320
Half a mil for a 246?!?! That's crazy money. Ill say it first; There's no way prices can rise that fast without some form of market correction, I.e. a burst bubble.

Of all the narcissists I know, I love me the most.
Killer58 is offline  
post #3 of 44 Old 01-21-2013, 02:53 AM
Owner
 
il Capolino's Avatar
 
Join Date: Dec 2009
Location: Switzerland
Ferrari Life Posts: 2,455
Let's hope it's a bubble. Otherwise, opportunity - she gone...

Salve,
Capo

The bad news: Time flies
The good news: I'm the pilot

You cannot make life longer but you can make it wider and higher.
il Capolino is offline  
 
post #4 of 44 Old 01-21-2013, 04:09 AM
Owner
 
212Export's Avatar
 
Join Date: Oct 2007
Location: Europe
Ferrari Life Posts: 3,996
I thought at you Onno when looking at the 330 GTC price. Amazing...and unbelievable.

Present: 365 GTB/4, Scud
Past: 250 GTE, 250 PF (2), 275 GTBsn, 330 GTC, 456GT, 550, 360Stradale, 430Scuderia, F40, F50
212Export is offline  
post #5 of 44 Old 01-21-2013, 06:33 AM
Owner
 
Join Date: Dec 2012
Ferrari Life Posts: 11
I thought the 500k GTC at Monterey was an anomaly, now it's not looking so crazy. I do find the rapid price increases somewhat disturbing. Sad to say, I doubt these cars are going to real "Car Guys".
John B is offline  
post #6 of 44 Old 01-21-2013, 07:26 AM
Owner
 
Sandy Eggo's Avatar
 
Join Date: Mar 2010
Location: Encinitas, CA
Ferrari Life Posts: 573
I'd love to know the geographic distribution of the Buyers and see some trends over the past 10 years. There is a lot of "new wealth" in places like China and Russia which results in a desire to have western luxury assets - high end real estate, art, automobiles. I hear endless stories of Asian "all cash" buyers / investors of real estate here on the West coast.

Folks forget that while the US and much of Western Eurpoe was in a recession...not everywhere was. What goes up, must come down - but maybe not for a while yet.
Sandy Eggo is offline  
post #7 of 44 Old 01-21-2013, 07:49 AM
Owner
 
champagne612's Avatar
 
Join Date: Sep 2010
Location: St Louis
Ferrari Life Posts: 10,022
The numbers may seem high but it takes multiple bidders to get to the final number.

I don't think it's a bubble - the fact is there are more buyers than sellers and I don't see that changing.

There is a thread in the Midwest section where a college kid drives a pimped out factory GTO to school.
champagne612 is offline  
post #8 of 44 Old 01-21-2013, 10:22 AM Thread Starter
Owner
 
JazzyO's Avatar
 
Join Date: Feb 2007
Location: The Netherlands
Ferrari Life Posts: 6,392
Sorry Doug, I fail to see what a kid with a 599GTO has to do with classic car prices. What we need to look at is the context. It is about the accelleration of price rises. The 330GTC has doubled in price in two years. The Dino has tripled in price in 3 years. This is not due to a sustainable growth in interest in classic cars, but rather a group of people who were not interested a couple of years ago but suddenly are. This kind of curve always goes like a rocket and then runs out of fuel and crashes. What is uncertain is how much rocket fuel we have on board.


Onno



Never pay again for live sex! | Hot girls doing naughty stuff for free! | Chat for free!

Future: No idea
Present: 458 Italia, 550 Maranello
Past: 365BB x 2,
330GTC
JazzyO is offline  
post #9 of 44 Old 01-21-2013, 10:37 AM
Owner
Elite Member
 
tazandjan's Avatar
 
Join Date: Aug 2011
Location: Albuquerque, NM
Ferrari Life Posts: 11,856
The stock market has not been a good way to make money recently, and neither has the real estate market for homes. There is a similar movement in the fine arts world, with paintings and prints rising rapidly as investors try and find someplace to park their money that will appreciate.

So it is speculation or investment, depending on how you want to spin it.

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
tazandjan is offline  
post #10 of 44 Old 01-21-2013, 01:16 PM
Owner
 
Pablo's Avatar
 
Join Date: Aug 2011
Location: Andorra La Vella
Ferrari Life Posts: 815
i agree with Onno! If i get an offer of not even 500k but 375k for my Dino 246 and it is sold.
The prices of that action in my opinion are crazy. I think it is a bubble about to burst any time!!!!

Current:F12, F40 , F50 , Enzo , Mclaren P1
Past: 348 spider ,F430, Dino 246 GTS
Waiting: Ghost 2016.
Pablo is offline  
post #11 of 44 Old 01-21-2013, 01:46 PM
Owner
 
champagne612's Avatar
 
Join Date: Sep 2010
Location: St Louis
Ferrari Life Posts: 10,022
Quote:
Originally Posted by Pablo View Post
i agree with Onno! If i get an offer of not even 500k but 375k for my Dino 246 and it is sold.
The prices of that action in my opinion are crazy. I think it is a bubble about to burst any time!!!!
Ok

But which is it?

Has the game changed or is it a bubble.

My post of a college kid driving a 599 GTO goes to show you what's expensive to some is pennies to another.

The kid doesn't care if it's worth 500k or 50k when he is done with it nor does his Dad who probably buys Jets Yachts Homes etc.

Enthusiasts and long time owners will always say I remember when - shoulda woulda coulda.

Well that's just not reality - big money being tossed at cars has been going on since GE's stock was 7 dollars a share in 2008.

Is Apple high or low - who knows but to say it's all due to anything but supply and demand is just wrong.

The demand for top auction cars is there and I doubt anyone here would be willing to take their prize Ferrari to a no reserve auction but perhaps a few would take it to a reserve auction knowing the cost of shipping etc. but once again I doubt it.

People here love their cars and that's great - but the big players and especially collections have no issue paying top dollars for top cars.
champagne612 is offline  
post #12 of 44 Old 01-21-2013, 02:51 PM
Owner
 
Sandy Eggo's Avatar
 
Join Date: Mar 2010
Location: Encinitas, CA
Ferrari Life Posts: 573
Quote:
Originally Posted by champagne612 View Post

The demand for top auction cars is there and I doubt anyone here would be willing to take their prize Ferrari to a no reserve auction but perhaps a few would take it to a reserve auction knowing the cost of shipping etc. but once again I doubt it.

People here love their cars and that's great - but the big players and especially collections have no issue paying top dollars for top cars.
Sold my Testarossa at auction in Monterey in August 2012 and it fetched over $104k. I did have a reserve but knowing what I know now...I would have gone without the reserve and paid a lower % to the house (and zero entry fee). I'd do it again, no problem.
Sandy Eggo is offline  
post #13 of 44 Old 01-21-2013, 02:53 PM
Owner
Elite Member
 
tazandjan's Avatar
 
Join Date: Aug 2011
Location: Albuquerque, NM
Ferrari Life Posts: 11,856
Rick- Great way to sell, lousy way to buy.

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
tazandjan is offline  
post #14 of 44 Old 01-21-2013, 02:58 PM
Owner
 
Pablo's Avatar
 
Join Date: Aug 2011
Location: Andorra La Vella
Ferrari Life Posts: 815
Doug , i think it is a bubble! I could be wrong and Ferraris might keep going up in price to a point that this numbers that Onno has published will look like bargains , but just like apple as you put it as an example at 700 or 600 or 500 a share for me it is expensive. But i admitt , that is me , my perception. I do not see a real or fundamental reason for the appreciation. So i would confirm again , i would definetly sell a Dino 246 GTS for 375K no question about it even if it means running the risk of the possible up trend of a bullish market. My 2 cents with all do respect offcourse!

Current:F12, F40 , F50 , Enzo , Mclaren P1
Past: 348 spider ,F430, Dino 246 GTS
Waiting: Ghost 2016.
Pablo is offline  
post #15 of 44 Old 01-21-2013, 03:15 PM
Owner
 
USADino's Avatar
 
Join Date: Jan 2010
Location: USADino
Ferrari Life Posts: 826
Garage
Quote:
Originally Posted by Pablo View Post
i agree with Onno! If i get an offer of not even 500k but 375k for my Dino 246 and it is sold.
The prices of that action in my opinion are crazy. I think it is a bubble about to burst any time!!!!
06462 was not just any Dino but an immaculate restoration of the highest caliber that was a multiple year winner at several meets.

I personally saw it and the Silver Dino from last Aug 2012 Monterey and in my opinion this one, 06462 was nicer
Attached Images
           
USADino is offline  
post #16 of 44 Old 01-21-2013, 04:14 PM
Owner
 
Pablo's Avatar
 
Join Date: Aug 2011
Location: Andorra La Vella
Ferrari Life Posts: 815
I do not know to what extent does the "immaculate" expression goes but i think mine is as good as it gets. I have spend on goodies well over 30K and going. In any case i think that the level of restoration will not justify in my opinion a jump in price of twice the normal price of a Dino. But again , that is just me!

Current:F12, F40 , F50 , Enzo , Mclaren P1
Past: 348 spider ,F430, Dino 246 GTS
Waiting: Ghost 2016.
Pablo is offline  
post #17 of 44 Old 01-21-2013, 09:37 PM
Owner
 
champagne612's Avatar
 
Join Date: Sep 2010
Location: St Louis
Ferrari Life Posts: 10,022
Quote:
Originally Posted by Pablo View Post
Doug , i think it is a bubble! I could be wrong and Ferraris might keep going up in price to a point that this numbers that Onno has published will look like bargains , but just like apple as you put it as an example at 700 or 600 or 500 a share for me it is expensive. But i admitt , that is me , my perception. I do not see a real or fundamental reason for the appreciation. So i would confirm again , i would definetly sell a Dino 246 GTS for 375K no question about it even if it means running the risk of the possible up trend of a bullish market. My 2 cents with all do respect offcourse!
I don't believe in bubbles.

The cream will always rise to the top.

I respect your savvy ... what I don't understand is why so many members here aren't embracing these new levels - it's IMO the time to hold your head high and enjoy the ride.

Apple is only expensive or inexpensive the day you sell it - every other days it's simply perception
champagne612 is offline  
post #18 of 44 Old 01-21-2013, 10:00 PM
Owner
 
550JM's Avatar
 
Join Date: Oct 2011
Location: Netherlands
Ferrari Life Posts: 1,127
...unless you're in the market for buying a classic Ferrari which is suddenly way out of reach....

Jeroen

Italian bella's:
550 Maranello 7-2000 nero/nero
1974 Ducati 750 Yellow Sport
1974 Ducati 350 Desmo Yellow Sport
2010 Ducati Multistrada 1200S
(And a few Alfa Romeo's and Range Rovers)

Power is nothing without control
550JM is offline  
post #19 of 44 Old 01-22-2013, 01:05 AM
Owner
 
il Capolino's Avatar
 
Join Date: Dec 2009
Location: Switzerland
Ferrari Life Posts: 2,455
There are still European specimens out there at lower prices, last chance perhaps...?

Salve,
Capo

The bad news: Time flies
The good news: I'm the pilot

You cannot make life longer but you can make it wider and higher.
il Capolino is offline  
post #20 of 44 Old 01-22-2013, 01:14 AM Thread Starter
Owner
 
JazzyO's Avatar
 
Join Date: Feb 2007
Location: The Netherlands
Ferrari Life Posts: 6,392
Quote:
Originally Posted by champagne612 View Post
But which is it?

Has the game changed or is it a bubble.
If it moves into a bubble, the game changes.


Onno



Never pay again for live sex! | Hot girls doing naughty stuff for free! | Chat for free!

Future: No idea
Present: 458 Italia, 550 Maranello
Past: 365BB x 2,
330GTC
JazzyO is offline  
Reply

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome
Copyright 2012 ONE Media, Inc.
FerrariLife is independently run with no affiliation with Ferrari SpA
Ferrari for Sale | Maserati for Sale