Ferrari Mailing List: Re: RM Auctions Tops $125 Million in Sales, Ferrari 275 GTB Sells for $27.5 Million

[Adam Green (FlatCrank]

Surely, the fee scale is not linear into those stratospheric prices.  I'm sure the auctioneers delight in setting high expectations for bidder premiums to just tack on top, but you don't have to sit in too many of these events before you see the reality of what goes on to make that hammer fall.  It's also an important for bidders to realize that "published auction sale" numbers can be inflated by all kinds of shenanigans.  It's a pool party, the host is a pack of sharks.  It's a poker game, and you can't spot the sucker at the table.  In other words, it's a car auction. : )

It would be interesting to know the pre-event negotiations and the largesse going to the event promoters, etc.  I'm assuming the auctioneer would be getting some fixed amount to market the car and leverage their network, say $50K?, but after that, their percentage on the sale would surely be cut off at some realistic number, say another $100K tops?  If I were bidding on say an F40 and expecting to pay over $1M, I'd be approaching the auctioneer and establishing terms.  Like hell I'd pay them the largesse of hundreds of thousands for the privilege of competing in an open auction at a high profile event instead of using a broker to locate a car.  I'd imagine all the auctioneers are cap in hand to buyers from 2000 thru 2008 who are only just now finding themselves above water on some of their "investments."

Adam

On Mon, Aug 26, 2013 at 9:49 AM, Larry T <l02turner [at] comcast.net> wrote:

ahh - forgot about the fees - they were considerable - I bet RM likes those kinds of sales -

LarryT

On 8/25/2013 6:35 PM, Erik Nielsen wrote:

The Mercedes was closer to $31.6 Mio with fees.  Still the record...

On Sun, Aug 25, 2013 at 4:59 PM, Larry T <l02turner [at] comcast.net> wrote:

speaking of record prices at auctions -- the latest edition of Octane reports Fangio's Mercedes W196 sold for 19.6 mil Euros/$26.4Million in the Sept. issue --   The NART quickly beat that -- a short lived record!

LarryT

On 8/20/2013 9:41 AM, Michael James wrote:

Well, let's not be too harsh - the car will be used like Eddie would have, if he were still around to drive it.  It will receive World-Class maintenance, and if you're up in Canada, you'll probably still get to see it driven at-speed.  It was the only NART Spyder still doing that.....the greater the risk, financially, the more-likely the car becomes a lawn ornament.  How fun would that be?

 

M J

 

From: Adam Green <FlatCrank [at] gmail.com>
To: Michael <Cavallino_Rapante [at] yahoo.com>
Cc: The FerrariList <ferrari [at] ferrarilist.com>
Sent: Tuesday, August 20, 2013 2:27 AM
Subject: Re: [Ferrari] RM Auctions Tops $125 Million in Sales, Ferrari 275 GTB Sells for $27.5 Million

There's nothing impressive about a billionaire risking millions; no more impressive than a small boy risking a dollar instead of a penny when he can afford to lose either amount.

Adam

ps.

On Mon, Aug 19, 2013 at 10:55 PM, Scott Saidel <Ferrarisimo [at] comcast.net> wrote:

Just for the record cLyDe 

Lawrence Stroll, the guy that bought the car, is one of those guys that drives the tires off of his cars.  

I've personally seen him racing in the classic challenge races put his GTO full on sideways with smoke (literally) coming off the tires - more than once - pushing hard for nothing more than a plastic trophy.

You'd probably like him too - really nice guy that LOVES his cars, spends real money making and keeping them perfect, and then drives them like he stole them.  Not sure he even owns an ascot - heck, I'm not even sure what an ascot is.

It has found a good home.

Scottie

On Aug 19, 2013, at 8:24 PM, Clyde Romero <clyderomerof4 [at] bellsouth.net> wrote:

It's more stupid people 

With more stupid money

Same shit happened when Enzo died 

My god it's just a car

But hey it is what it is!

Most if not all of these guys who buy the cars are pricks anyway who run around with blazers and ascots 

You see them in the Formula 1 paddock club acting like they know what the are seeing

Much like a kid opening a door while two people are making out!

The kid knows something is going on he just doesn't know what!

Gotta go fly 

If I ever hit the lottery I would buy the cars from those jerks and drive the wheels off them with my friends off this list at a race track 

Because that's where they be long not in some garage catching dusk

These cars have soul !

Clyde 

Sent from my iPhone

On Aug 19, 2013, at 7:47 PM, LS <lashdeep [at] yahoo.com> wrote:

Indeed, the bidding increments were insane...Millions at a time.

_________________________________________________________________
To unsubscribe or modify your subscription options, please visit:
http://lists.ferrarilist.com/mailman/options/ferrari/cavallino_rapante%40yahoo.com

Sponsored by BooyahMedia.com
and F1 Headlines
http://www.F1Headlines.com/

_________________________________________________________________
To unsubscribe or modify your subscription options, please visit:
http://lists.ferrarilist.com/mailman/options/ferrari/l02turner%40comcast.net


Sponsored by BooyahMedia.com 
and F1 Headlines
http://www.F1Headlines.com/

_________________________________________________________________
To unsubscribe or modify your subscription options, please visit:
http://lists.ferrarilist.com/mailman/options/ferrari/judge4re%40gmail.com

Sponsored by BooyahMedia.com
and F1 Headlines
http://www.F1Headlines.com/

_________________________________________________________________
To unsubscribe or modify your subscription options, please visit:
http://lists.ferrarilist.com/mailman/options/ferrari/l02turner%40comcast.net

Sponsored by BooyahMedia.com 
and F1 Headlines
http://www.F1Headlines.com/

_________________________________________________________________
To unsubscribe or modify your subscription options, please visit:
http://lists.ferrarilist.com/mailman/options/ferrari/flatcrank%40gmail.com

Sponsored by BooyahMedia.com
and F1 Headlines
http://www.F1Headlines.com/