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

Re: RM Auctions Tops $125 Million in Sales, Ferrari 275 GTB Sells for $27.5 Million	<– Date –> <– Thread –>
From: Michael James (cavallino_rapanteyahoo.com)
Date: Wed, 28 Aug 2013 07:09:50 -0700 (PDT)

Wanna bet the company changes their name, repaints their trucks and "business as-usual"?

M J

From: Larry T <l02turner [at] comcast.net>
To: Michael <Cavallino_Rapante [at] yahoo.com>
Cc: The FerrariList <ferrari [at] ferrarilist.com>
Sent: Wednesday, August 28, 2013 9:17 AM
Subject: Re: [Ferrari] RM Auctions Tops $125 Million in Sales, Ferrari 275 GTB Sells for $27.5 Million

that shipper will likely never transport high end cars again - most likely no cars.

once court papers are filed the shipper's name will be revealed I suspect... Right? or can that info be surpressed?

LarryT

On 8/26/2013 2:44 PM, David wrote:

Car was damaged in transit TO Monterey , shipping company got a hasty hush-hush repair and didnât tell anyone. Car is sold, new owner finds out about damage and gets unhappy. Sale is cancelled, RM says âoopsâ, buyer gets his money back, and the original owner has his 2200 mile F40 damaged and itâll never sell for the same price again as it now has damage history. Thus starts the legal battle with shipping company to pay for damages and potential lost value.

Car is now at Premier Motorsports in SoCal awaiting repair.

If I knew what shipping company it was Iâd say so, but I donât. If anyone happens to know Iâd be very interested to learn this.

Forgot to mention, fee scale for auctions IS linear. I am in the wrong business obviouslyâ.

From: Erik Nielsen [mailto:judge4re [at] gmail.com]
Sent: Monday, August 26, 2013 11:32 AM
To: David
Cc: The FerrariList
Subject: Re: [Ferrari] RM Auctions Tops $125 Million in Sales, Ferrari 275 GTB Sells for $27.5 Million

I missed the story, what was the deal (I have a wife giving me grief to get an F40 next...).

Thanks,

Erik

On Mon, Aug 26, 2013 at 1:07 PM, David <david [at] tynerroberts.com> wrote:

Speaking of the Million $ plus F40, that sale was quickly cancelled once the truth came out about the car. The only loser in that episode was the owner/seller. He got TOTALLY screwed.

Dave

From: Adam Green [mailto:FlatCrank [at] gmail.com]
Sent: Monday, August 26, 2013 11:00 AM
To: David
Cc: The FerrariList

Subject: Re: [Ferrari] RM Auctions Tops $125 Million in Sales, Ferrari 275 GTB Sells for $27.5 Million

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 mailto:FlatCrank [at] gmail.com
To: Michael mailto:Cavallino_Rapante [at] yahoo.com
Cc: The FerrariList mailto: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.

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Re: RM Auctions Tops $125 Million in Sales, Ferrari 275 GTB Sells for $27.5 Million, (continued)
- Re: RM Auctions Tops $125 Million in Sales, Ferrari 275 GTB Sells for $27.5 Million Fellippe Galletta, August 19 2013

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