Discussion
Drclarke said:
IMI A said:
Do very well to make half that in current climate. Very interesting to see what it does make. Gorgeous car. To me one of the nicest of all time looks wise 
Idiot.Oh of course, the current climate. Where buyers of £50,000,000 cars have to reign in their spending because of their gas and electricity bills.
Video of the auction here - https://www.youtube.com/live/F5ThCh1fMzY?si=-SgBK7...
Soleith said:
$51,705,000.
Cozzie livs innit.
I will eat a big portion of humble pie, really thought that would go for a lot more…top end Ferraris, Rolex, wonder what another bellwether will go for… hahaCozzie livs innit.
https://bid.gwsauctions.com/auction/165/item/scarf...
Kevin Cozner said:
I'm no expert on GTOs... I was listening to a podcast which said this one wasn't a "proper" GTO? And it was marketed as "330LM/250GTO"?
It started as 330 LMB, basically a GTO chassis with a 4 litre engine, and was raced like that by the factory in 1962. At the end of that season they sold the car to a privateer racer who then had the factory convert it to 250 GTO specification, and it's been in that form since 1963.Edited by Kevin Cozner on Tuesday 14th November 09:20
Drclarke said:
Hammersia said:
A lot of posts ITT have not aged well ^^^^^
It was never going to achieve 100,000,000 but my point was that anyone spending 50,000,000 or ever. 5,000,000 isn’t really losing sleep over their luxury purchase. But 10/10 for lurking around ready to comment!
thegreenhell said:
It started as 330 LMB, basically a GTO chassis with a 4 litre engine, and was raced like that by the factory in 1962. At the end of that season they sold the car to a privateer racer who then had the factory convert it to 250 GTO specification, and it's been in that form since 1963.
Thank you. So in the weird world of collecting, does that make it less valuable than one that was produced as a 250GTO, or is this a fair barometer of 250GTO values?Edit, never mind, I think this answers my curiosity:
Edited by Kevin Cozner on Tuesday 14th November 10:17
thegreenhell said:
Petrus1983 said:
Beautiful car. I can see that popping up at a show with Ralph Lauren at some point - his kind of car and already stateside.
He already has one.For anyone wondering what we're talking about - his collection IMO is one of the most beautiful out there. Pure class.
https://www.motorious.com/articles/highlights/ralp...
Still Mulling said:
So 14% under desires/expectations. Could we see a knock-on effect into the lower levels of the high-end premium market (e.g. $1M Porsche 911s)? Usually when an investment underperforms to such a degree it inflicts a general nervousness.
Or maybe I'm reading too much into it.
I think this will have a huge effect, absolutely shocked at how low it went for!Or maybe I'm reading too much into it.
thegreenhell said:
Video of the auction here - https://www.youtube.com/live/F5ThCh1fMzY?si=-SgBK7...
That was hard work to get it to $47m + buyers premium. It seems there were only 2 bidders and they weren't very forthcoming with their bids. You'd think there would be more people interested, at least at the start of the bidding. Petrus1983 said:
thegreenhell said:
Petrus1983 said:
Beautiful car. I can see that popping up at a show with Ralph Lauren at some point - his kind of car and already stateside.
He already has one.For anyone wondering what we're talking about - his collection IMO is one of the most beautiful out there. Pure class.
https://www.motorious.com/articles/highlights/ralp...
Could it be that this is not a correction of the market but more an accurate reflection of where it is? We have seen some crazy number being bandies around over the last few years, however super high networth items like this do have a market ceiling and maybe the market has spoken.
The last famous sale of a 250 GTO was to the WeatherTech chappie paying way above market in the 70's. One sale at a very high price doesn't dictate the market, more what someone is willing to pay. This 50 million is in line with a slight trajectory over the years.
I cant honestly say if the history may have went against this one, the engine change, the body change etc despite it being the only factory back race car.
For those comparing it to the sale of the Ulenhaut coupe, it's not really the same thing. That was done to raise money for a foundation for Mercedes and the person who purchased it isnt the owner, merely a custodian. Its not like they can sell it on to someone else.
The last famous sale of a 250 GTO was to the WeatherTech chappie paying way above market in the 70's. One sale at a very high price doesn't dictate the market, more what someone is willing to pay. This 50 million is in line with a slight trajectory over the years.
I cant honestly say if the history may have went against this one, the engine change, the body change etc despite it being the only factory back race car.
For those comparing it to the sale of the Ulenhaut coupe, it's not really the same thing. That was done to raise money for a foundation for Mercedes and the person who purchased it isnt the owner, merely a custodian. Its not like they can sell it on to someone else.
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