Will the Silverstone Lusso beat top estimate?
Discussion
I know this car well, if fact I made enquires about it about two years ago when it was up for sale for just under £700k. Even at that time that would have made it the most expensive Lusso on the market.
Its current auction estimate I think is at this time very high as again this will make it the most expensive Lusso to come to market this year. To illustrate the top price paid at auction this year was £1.475 million, and that was a show quality car which makes it almost £250k lower than the low estimate for this one.
And here's the rub, as good a general restoration as this car is it does have a number of issues that would preclude it from gaining top marks on a show field and at this level these car have to be period correct. This car is not.
I could well be proved wrong but I will be very surprised if I am
Its current auction estimate I think is at this time very high as again this will make it the most expensive Lusso to come to market this year. To illustrate the top price paid at auction this year was £1.475 million, and that was a show quality car which makes it almost £250k lower than the low estimate for this one.
And here's the rub, as good a general restoration as this car is it does have a number of issues that would preclude it from gaining top marks on a show field and at this level these car have to be period correct. This car is not.
I could well be proved wrong but I will be very surprised if I am
Vanin said:
And here's the rub, as good a general restoration as this car is it does have a number of issues that would preclude it from gaining top marks on a show field and at this level these car have to be period correct. This car is not
So what issues does it have?I think the problem came down to the inexperience of the restorers on this particular model. It would not be difficult to fix the issues, but they are issues. If you are buying at car at this level you should feel assured its perfect and any issues such as they are should be pointed out in the sales literature
Full list of Salon Prive 2014 auction results here.
Generally speaking cars failed to make the expected values and the Stradale Collection didn't make what was expected.
Generally speaking cars failed to make the expected values and the Stradale Collection didn't make what was expected.
Good news cars did`nt make there estimates in my opinion, its about time all these silly prices for cars slowed down, i`m a Jag man myself, and the ridiculous prices that people (especially traders) are asking for the likes of E Types and XK`s makes them not possible to afford for the real enthusiasts, 150,200k for E Types, bloody stupid,there not worth that kind of money,well thats my little gripe over for the day :-)
Agree with you on stooopid prices. But at least you can enjoy a well restored E Type on a daily basis whereas over 20 million on a GTO? You could only really enjoy it on a race track and you would be so scared of damaging it if you only wanted it for Pebble Beach and the like. I suspect a long European tour in it would be hell with the noise, heat, burning clutch and lack of storage space!
The trouble is that there is so much money in certain parts of the world now especially China and India, and when they start reading Classic Cars magazines and seeing these beautiful cars which are made in relatively tiny numbers, then money really is no object.
The trouble is that there is so much money in certain parts of the world now especially China and India, and when they start reading Classic Cars magazines and seeing these beautiful cars which are made in relatively tiny numbers, then money really is no object.
The entire spectrum at the uber wealthy end has taken a breather. NY & London resi, fine art etc. these stores of wealth have all seen inflation taper towards the end of the season.
It seemed to begin before the latest Iraq mess but that won't be helping but Ukraine is certainly in there somewhere. The markets as a whole are suddenly wary of a possible spike in oil (the precursor to any post war recession) while at the same time the printing presses have been slowing and cash regaining value.
All bubble bursting a have a trigger and in this market it will start with failed auctions and after that my guess is a lawsuit as a recent buyer gets cold feet Nd then we'll have the forced margin sales.
But to be honest, unless we do get a big spike in oil then I think this is just a breather until spring.
It seemed to begin before the latest Iraq mess but that won't be helping but Ukraine is certainly in there somewhere. The markets as a whole are suddenly wary of a possible spike in oil (the precursor to any post war recession) while at the same time the printing presses have been slowing and cash regaining value.
All bubble bursting a have a trigger and in this market it will start with failed auctions and after that my guess is a lawsuit as a recent buyer gets cold feet Nd then we'll have the forced margin sales.
But to be honest, unless we do get a big spike in oil then I think this is just a breather until spring.
EXKAY120 said:
I wonder if Eagle are celebrating with silverstone auctions job ?
Not sure Henry Pearman has got much to complain about when you look at this http://www.classicandsportsfinance.com/wp-content/...F40 guide price was £600k to £750k...they got a £600k bid but it didn't sell.
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