anyone have the results from the russo & steele auction ?

I heard the very same thing. slightly resto'd cars being represented as fully restored. it goes on and on.

The other part of the story I've heard a lot is that many of the cars had only been with the current owner for a short period or had lots of ownership transfers in the past couple years - in other words, flippers and dealers trading between themselves. Doesn't seem healthy.

As nice as this one is, I think it has the wrong ignition switch.
That kind of jumped out at me. Who knows how long it has been wrong, and if they just restored what they had and did not know the difference, then what else did they miss?

Any way to get Porsche results as they had quite a few. I tried their webpage, no luck there.

R&S has not posted results yet- they had two 76 930 that looked nice, curious to see how they did. I'm on their email list I post results as soon as they are up.

Phil

Lets not forget that Bonhams adds a 25% buyers premium, that could hold some cars back.

they also had a couple speedsters

thx

FWIW-If last week’s auctions in Arizona acted as a barometer for the market, then where better than the City of Love to embrace the passion that drives it? For the 41st time, the classic car community turned Paris into a hive of automotive activity for Rétromobile week. While recent times have seen alarmists talk of an imminent ‘bubble burst’, those in-the-know are saying the opposite – the current stabilisation phase is indicative of buyers becoming wiser, and only seeking the best examples. When Artcurial’s Ferrari 335 S Spider crosses the block a few hours from now, we’ll have a good idea of just how healthy the very top end of the market really is.

Joe Breeze
Editor, UK

335S struggled its way slowly to barely hammer at €28m, the low estimate. Probably because, as those in the know are aware, it's a B-grade heap.

So a car sells for over $30,000,000 w/o buyers premium and you use that as an example that the collectable car market is in the toilet? :confused:

Did I say it was in the toilet?? :confused:

I just think all the post hoc excuse making whenever a car doesn't go crazy (as many expected with this one) is funny.

good quality cars are still bringing the money. btw, a 512 bbi hammered at $440k all in. fairly strong money. details an quality matter.

remember it is a numbers game for many of these auction houses. they need cars to sell regardless of quality and pedigree.

Yeah, I don't think anyone is saying the entire market is in ruins and nothing is selling. You do have to think about the relevance though when it gets to the point where only the top 1% of cars is actually bringing money, since the rest of the market is that 99%.

Are you trying to say that if a car sells for what YOU think is a lot of money the market must be fine, regardless of what its previously estimated value was?

I am not here to pick fights with anyone- cars are a hobby to me not a business. I do this because I enjoy it. If folks want to obsess over valuation and speculate on bubbles that's fine with me. I know nothing about market $30m cars, out of my league but if my thesis was that market was teetering that sale would not have been the one I use to help support my point of view. If everyone is sitting around waiting for market for Porsche's to crash and burn - it probably becomes a self fulling prophecy. Markets move up and down driven by fear and greed - always have always will.
Phil

If that article posits that how that one car performed would be indicative of the overall health of the market, I'd say the fact that it reluctantly crept up at a snail's pace to barely meet lowest estimate might say something.

For what it's worth, when asked on Ferrari Chat what the overall vibe and feeling in Paris was, the uncontested vintage Ferrari authority Marcel Massini, who was there in the room, said

No expert on Ferrari values but 512bbi's selling for 400k and 308's selling for 90k seems like a good market.


Sent from my iPhone using Tapatalk

You have to ask yourself how much they thought the top of the market could be. Are they expecting a 100 million dollar car in the near future? When the grail car (250 gto) can manage 40 million. And the 250 gto will always be the top of the market.


Sent from my iPhone using Tapatalk