RM Sotheby's - Phoenix results rolling in

[Skwerl]

Watch live: Arizona 2016 | Classic Car Auctions | RM Sotheby's

Porsches on the block: View Lots | Classic Car Auctions | RM Sotheby's

Prices include premiums:

1976 930, 63k miles, white/tan
Estimate: $225-275k
Sold: $187k
1976 Porsche 911 Turbo Carrera | Arizona 2016 | RM Sotheby's

1967 911 S, 46000 miles
Estimate: $250-300k
Sold: $225.5k
1967 Porsche 911 S Coupe | Arizona 2016 | RM Sotheby's

1960 356 B 1600 Cabriolet by Reutter
Estimate: $175-200k
Sold: $167,750
1960 Porsche 356 B 1600 Cabriolet by Reutter | Arizona 2016 | RM Sotheby's

1996 993TT silver/blue, 9000 miles
Estimate: $200-250k
Sold: $209k
1996 Porsche 911 Turbo Coupe | Arizona 2016 | RM Sotheby's

1974 911 Carrrera Coupe, 40,500 miles
Estimate: $100-125k
Sold: $110k
http://www.rmsothebys.com/az16/arizona/lots/1974-porsche-911-carrera-coupe/1078377

1984 911 Turbo "Slant Nose" Coupe
Estimate: $175-225k
Sold:$112,750
http://www.rmsothebys.com/az16/arizona/lots/1984-porsche-911-turbo-slant-nose-coupe/1078451

Possibly interesting note: the auctioneer pointed out how a Lambo Miura was only bid to half ($1.1 million; unsold) of what one sold for at their auction in New York a month ago.

[Skwerl]

A few other results from Bonham's in Scottsdale today. Prices include premiums:

1977 930, 30k miles
Sold: $170,500
Bonhams : 1977 PORSCHE 930 3.0 TURBO COUPE Chassis no. 9307800362 Engine no. 6870373

1975 911 2.7 Coupe, 47,000 miles
Sold: $74,800
Bonhams : 1975 PORSCHE 911 CARRERA 2.7 COUPE Chassis no. 9115400113 Engine no. 6550731

1987 911 Carrera 3.2 Coupe, 87k miles
Sold: $57,200
Bonhams : 1987 PORSCHE 911 CARRERA 3.2 COUPEVIN. WP0AB0919HS121555 Engine no. 64H04695

1977 911S 2.7 Targa, 51,000 miles
Sold: $45,100
Bonhams : 1977 PORSCHE 911S 2.7 TARGA Chassis no. 9117211349 Engine no. 6273027

1973 911 Carrera RS 2.7, matching numbers, factory livery
Sold: $525,000
Bonhams : 1973 PORSCHE 911 CARRERA RS 2.7 Chassis no. 9113601446 Engine no. 6631401

Some other ones to be seen here:

Bonhams : The Scottsdale Auction

[David Borden]

Thanks for posting!

[JacobS911]

That white 76 turbo is gorgeous! Wonder why it didn't get above 200k?!

[pu911]

I'm not there to see the cars in the flesh - but generally speaking they look much better in brochures than is person. It's not unreasonable to assume when price's don't go too high that car has issues.

Phil

[Skwerl]

Originally Posted by pu911

It's not unreasonable to assume when price's don't go too high that car has issues.

Maybe here and there, but this is the list of lot # - hammer price (estimate) from pretty much everything from today:

101 - missed (est 15-20)
102 - 75k (est 80-100)
103 - 45k (est 20-30)
104 - 80k (est 80-100)
105 - 85k (est 80-100)
106 - 70k (est 80-100)
107 - 65k (est 60-80)
108 - 185k (est 125-175)
109 - 115k (est 140-180)
110 - 140k (est 200-250)
111 - 270k (est 275-325)
112 - 280k (est 300-325)
113 - 155k (est 200-250)
114 - 170k (est 225-275)
115 - 700k (est 850-925) unsold
116 - 115k (est 90-125)
117 - 1.05M (est 1.1-1.5)
118 - 62.5k (est 60-70)
119 - 90k (est 150-200)
120 - 300k (est 350-400) unsold
121 - 330k (est 400-475)
122 - 285k (est 275-350)
123 - 205k (est 250-300)
124 - 162.5k (est 175-200)
125 - 190k (est 225-250)
126 - 1.4M (est 1.5-2.0)
127 - 360k (est 375-425)
128 - 775k (est 900-1.1)
129 - 275k (est 325-375) unsold
130 - 190k (est 225-275) unsold
131 - 300k (est 400-500) unsold
132 - 1.7M (est 2.0-2.4) unsold
133 - 2.7M (est 3.0-3.5) unsold
134 - 190k (est 200-250)
135 - 300k (est 375-425) unsold
136 - 125k (est 180-240)
137 - 300k (est 325-400)
138 - 1.075M (est 1.1-1.5)
139 - 900k (est 1.5-2.0) unsold
140 - 2.05M (est 2.5-3.3)
141 - 90k (est 120-160)
142 - 225k (est 225-325)
143 - 75k (est 100-125)
144 - 110k (est 100-140)
145 - 1.925M (est 2.4-2.8)
146 - 350k (est 400-475)
147 - 610k (est 700-850)
148 - 1.45M (est 1.3-1.6)
149 - 1.5M (est 1.8-2.1)
150 - 310k (est 400-600)
151 - 330k (est 400-450)
152 - 150k (est 225-275)
153 - 450k (est 525-625)
154 - 210k (est 250-300) unsold
155 - 65k (est 100-125)
156 - 730k (est 750-900) unsold
157 - 60k (est 125-175)
158 - 850k (est 1.0-1.2)
159 - 125k (est 150-175)
160 - 65k (est 90-120)
161 - 170k (est 200-275) unsold
162 - 210k (est 275-350)
163 - 700k (est 750-875)
164 - 240k (est 275-325)
165 - 225k (est 275-325)
166 - 85k (est 125-175)
167 - 310k (est 350-450) unsold
168 - 62.5k (est 90-120)
169 - 160k (est 100-125)
170 - 90k (est 150-200)
171 - 140k (est 100-150)
172 - 102.5k (est 175-225)
173 - 110k (est 160-200)
174 - 75k (est 50-70)
175 - 22.5k (est 40-60)
176 - 25k (est 25-35)

A preponderance of cars didn't meet estimates, with many falling way short or not even selling.

Tomorrow is round two, with a small handful of Porsches still to go.

[pu911]

Sorry - I wasn't talking in general just about the 76-77 turbo's- quite a few more hit the block in this weekend.

Phil

[Skwerl]

Yeah, I know. I'm just saying that when nearly all of the prices across the board are failing to meet expectations, there might be more to the soft 930 prices than just misleading photos. It will be interesting to see how things shape up at day two.

[Rick Brooklyn]

103 and 169 slammed it out of the ballpark, which cars were those?

[pu911]

The feedback I'm hearing from folks at the auctions is product falls well short of condition needed to get to pre-auction estimates. The auction houses are falling over each other to get desirable cars in the "fold".

Phil

[KNS]

Originally Posted by pu911

The feedback I'm hearing from folks at the auctions is product falls well short of condition needed to get to pre-auction estimates.
Phil

Or, to put it another way - they overestimated what people were going to pay for their average cars. And the people with those average cars thought now would be the time to cash in.

[billh1963]

Originally Posted by KNS

Or, to put it another way - they overestimated what people were going to pay for their average cars. And the people with those average cars thought now would be the time to cash in.

And that's when you know things are cooling off.....when the average person (like me) decides it is time to sell it's already coming off peak....

[NYNick]

$550K for an 73RS? Seems cheap.

[voitureltd]

Originally Posted by Skwerl

Yeah, I know. I'm just saying that when nearly all of the prices across the board are failing to meet expectations, there might be more to the soft 930 prices than just misleading photos. It will be interesting to see how things shape up at day two.

Thanks for the result posting. Between all 4 auctions, lots of Porsches to get a feel of the current auction market conditions and the relation to others value.

[Skwerl]

Originally Posted by KNS

Or, to put it another way - they overestimated what people were going to pay for their average cars. And the people with those average cars thought now would be the time to cash in.

Exactly.

Originally Posted by Rich Brooklyn

103 and 169 slammed it out of the ballpark, which cars were those?

103: 1974 Citroën 2CV6 | Arizona 2016 | RM Sotheby's

169: 1957 Chevrolet Bel Air 'Fuel Injected' Convertible | Arizona 2016 | RM Sotheby's

[93097004xx]

78 930 at Bonham's sold for $132,000. I think the speedo change may have hurt this car. Normally this is does not have such drastic affect on value but when you advertise low miles and then the car has a incorrect speedometer there is no way to defend or claim low miles on the car.

https://www.bonhams.com/auctions/23132/lot/88/




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[CountD]

Originally Posted by 93097004xx

78 930 at Bonham's sold for $132,000. I think the speedo change may have hurt this car. Normally this is does not have such drastic affect on value but when you advertise low miles and then the car has a incorrect speedometer there is no way to defend or claim low miles on the car.

https://www.bonhams.com/auctions/23132/lot/88/




Sent from my iPhone using Tapatalk

Or it might have been the cheesy wheel change. No way would I expect top dollar for my car with cheesy period BBS wheels. Guy should have known better - much better.

[CountD]

I vote that Skwerl should become our new auction analyst.

That RS went for a great deal. What a car. That's the one everyone should have bought. I would have suspected it would have went for $100K more at the very least.

[Skwerl]

Originally Posted by CountD

I vote that Skwerl should become our new auction analyst.

That RS went for a great deal. What a car. That's the one everyone should have bought. I would have suspected it would have went for $100K more at the very least.

Oops, and I accidentally typo'd the final sales price...it was really $525k, not $550k. Some analyst I turn out to be!

[mobius911]

I think what hurt the RS is that the engine serial number was clearly a restamp of the original number. The font was all wrong. As a possible buyer posted elsewhere, as soon as he saw that- and it wasn't disclosed- he didn't even bother looking at the rest of the car.

There is an adjustment in price for a non-original motor (maybe 15-20%?), but if it isn't disclosed many potential bidders just run away, fearing that there may be other hidden issues lurking as well.