Ferrari 250GTO going to auction - how much will it make?
Discussion
I can't remember if this has ever happened before (a couple have been entered, but subsequently been bought before the sale and the last one to cross the rostrum, at Bonhams' Gstaad sale in December 2000, failed to meet reserve), but this one is no-reserve, so it WILL be sold... and I dread to think how much it is going to make.
Ferrari 250GTO to be sold by Bonhams
My guess is $55million, give or take a few million bucks. Anyone else want to play?
Ferrari 250GTO to be sold by Bonhams
My guess is $55million, give or take a few million bucks. Anyone else want to play?
jamesatcandsc said:
I can't remember if this has ever happened before (a couple have been entered, but subsequently been bought before the sale and the last one to cross the rostrum, at Bonhams' Gstaad sale in December 2000, failed to meet reserve), but this one is no-reserve, so it WILL be sold... and I dread to think how much it is going to make.
Ferrari 250GTO to be sold by Bonhams
My guess is $55million, give or take a few million bucks. Anyone else want to play?
You'd have to say $50m+ is readily achievable but if any 2 individuals decided that they really want it then we could see any price!Ferrari 250GTO to be sold by Bonhams
My guess is $55million, give or take a few million bucks. Anyone else want to play?
Chris Evans sold his Series 2 & was rumoured to be after an earlier car. I wonder whether his pockets are deep enough!
As an aside, doesn't the record belong to the ex-Fangio Mercedes-Benz W196 rather than the Ferrari 275 stated in the article? £19.6m equates to more than $27.5m
napierrailton said:
jamesatcandsc said:
I can't remember if this has ever happened before (a couple have been entered, but subsequently been bought before the sale and the last one to cross the rostrum, at Bonhams' Gstaad sale in December 2000, failed to meet reserve), but this one is no-reserve, so it WILL be sold... and I dread to think how much it is going to make.
Ferrari 250GTO to be sold by Bonhams
My guess is $55million, give or take a few million bucks. Anyone else want to play?
You'd have to say $50m+ is readily achievable but if any 2 individuals decided that they really want it then we could see any price!Ferrari 250GTO to be sold by Bonhams
My guess is $55million, give or take a few million bucks. Anyone else want to play?
Chris Evans sold his Series 2 & was rumoured to be after an earlier car. I wonder whether his pockets are deep enough!
As an aside, doesn't the record belong to the ex-Fangio Mercedes-Benz W196 rather than the Ferrari 275 stated in the article? £19.6m equates to more than $27.5m
It might not make huge amounts of money (ie >£30m). 10 years ago, Ferraris were one of 'the' choices for investment cars, now many other marques are on the rise, look at prices for Porsche RS's, Mclaren F1's and Lamborghini Countach's, combined with a lot of limited run 'investment' new cars, many new cars available around the £1m mark, some serious collectors investors may decide not to put all their eggs in one basket.
The classic car bubble will burst, its just a cyclic thing, just when we can't predict.
The classic car bubble will burst, its just a cyclic thing, just when we can't predict.
Trouble is cars like the GTO, famous Cobra's etc tend to have a very dedicated following and when one does come up they tend to break what ever previous price was achieved at the last public sale/auction.
Hopefully when the investment bubble bursts, E types, Mk2's etc will get a "price adjustment" and I might be able to scrape the funds together to get a nice 100/6, Interceptor etc.
Well I live in hope if nothing else....
Hopefully when the investment bubble bursts, E types, Mk2's etc will get a "price adjustment" and I might be able to scrape the funds together to get a nice 100/6, Interceptor etc.
Well I live in hope if nothing else....
DavidY said:
The classic car bubble will burst, its just a cyclic thing, just when we can't predict.
As soon as interest rates go up usually. That said, there are a couple of things that seem to be different this time around:
1) Some of the investment groups (the guys playing in the really big league) are happy to admit that they have no plans to cash in in this boom. Rather they are playing a long game and, even if the market crashes, they are looking at selling in the next inevitable boom. Guess that means that all their cars are going to be out of circulation for a long time, which is not good news. Others admit they are looking at a six-month turnaround and who can blame them given what GTO prices have done? I know of one that sold four years ago for circa £8million, double that just one year later and would be double that again now. Where else could you get that return?
2) Also, despite there being a global financial crisis, it seems that many more super-rich people this time around have been entirely unaffected by it and can continue to indulge themselves with cost being irrelevant. This is less depressing because these tend to be individuals who appreciate the cars, use them and show them.
So, there is a chance that even if the market bursts its seams, the very top end could be immune, but people shelling out £1million for Countachs, £200k for E-types and Dinos, or £80k for Austin-Healeys might want to be a bit more cautious!
I may be wrong, it may keep spiralling upwards forever or simply plateau, but who really wants a classic car world where normal enthusiasts simply can't afford to buy anything?
Edited by jamesatcandsc on Tuesday 1st July 17:44
thegreenhell said:
It's been crashed into a building, killing its first owner, then repaired. Therefore I offer you two buttons and a curly-wurly, and that's doing you a favour. 'old out your 'and...
Wonder if it's a Cat C or Cat D then? I do hope the buyer does an HPI check first before he posts on General Gassing bleating that he's bought a lemon.jdw1234 said:
ToneyCaroney said:
jdw1234 said:
I reckon the price will massively dissappoint and lead to the collapse of the classic car bubble.
Ha ha, excellent!£30-35M
My guess- 30-40 mill.
There will be plenty of people talking up the price to silly figures but I suspect whilst the classic car price bubble is not about to burst, it's not going to increase at the rate it has done in the past 20 or so years. People who can afford to bid are (dare I say it) investors as opposed to enthusiasts and aren't stupid.
The likes of Chris Evans (mentioned above) who is a genuine enthusiast, will not get anywhere near the asking price, irrespective of his wealth.
The sale price will undoubtedly have implications for future sale prices of the rarest and most desirable cars around but not necessarily the cars that currently go for more 'affordable' prices IMHO.
There will be plenty of people talking up the price to silly figures but I suspect whilst the classic car price bubble is not about to burst, it's not going to increase at the rate it has done in the past 20 or so years. People who can afford to bid are (dare I say it) investors as opposed to enthusiasts and aren't stupid.
The likes of Chris Evans (mentioned above) who is a genuine enthusiast, will not get anywhere near the asking price, irrespective of his wealth.
The sale price will undoubtedly have implications for future sale prices of the rarest and most desirable cars around but not necessarily the cars that currently go for more 'affordable' prices IMHO.
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