It wasn't at Mecum, it was at Russo & Steele.
It sold for ~$65,000. The highest bid was $59k, but the guy still has to pay a commission. So the ultimate sale price must be around $65,000. We'll know in a few days when Russo & Steele posts the price on the website. Russo and Steele - Past Sales Results
It was an unpleasant experience though. Those folks at Russo & Steele did it in a way I was not expecting, and I'm pretty pissed off right now. They lowered the reserve without my consent. Their rationale was they would cut their commission so I'd still have the same in my pocket. This might not sound bad, but the contract says nothing about them unilaterally being able to do this. I was more than happy to take it home if it didn't meet my bottom line price. It was my Dad's car after all. I wasn't going to let it go without a premium.
I drove the car onto the block, and the minute I got out of the car they were hammering me about lowering the reserve. People warned me about this, so I was prepared and unmoved by their imposing behavior. But my friends in the audience who had been watching the auction for hours beforehand told me they hadn't seen them do it as much as they did w/me. Probably because I'm a woman, and was the only female owner so far that night to drive a car onto the block. Every time they pressured me, I shook my head no, I wasn't gonna lower it. It couldn't have been more clear.
When the last bidder was at $59k, R&S sold it and cut the commission (so they say, we'll see...). I argued with them right there on the block, and they told me to piss off.
So the ordeal was very unpleasant and unexpected. Ultimately, the car needed a better owner. If my kids were older (and my money tree for maintenance were bigger), it would be different. Still, I was absolutely ok with and looking forward to having the car for another year or two. So was my husband, and he's just a clueless Lambo guy.
The silver lining is that I ran into the highest bidder on my way out of the place, and he's a REALLY nice guy with a REALLY nice garage. Late '60s and has 15+ cars in one HUGE garage that was absolutely immaculate! (I asked if he had photos of his garage so I'd know where the TR would be.) It was my Dad's garage ten times over, and the guy was very excited about owning this Testarossa. Said he didn't come to the event to buy it, but when he saw it, he had to have it. One of the cars he had in that garage was a 275 GTB that he's had for ages. He also said he'd give me a right of first refusal (I asked).
Still, I did not like the feeling of the rug being pulled out from under me. If they don't honor the reduced commission, then it really WILL be a bowling alley.
What do you all think of this? And what do you think of the price?
I had one guy come up to me right after who was just incredulous that I sold it at that price (I thereafter explained), and then a different guy who said it was a very good price (he was a TR owner and a mechanic). These two guys were polar opposites on what should have happened. As a refresher, the car was a 1985 TR, previously/completely restored by Mike Reglaia, had almost 35,000 miles, and just had an engine out major service (plus the new tires and battery not long ago).