RE: RM Sotheby's 'Duemila Ruote' sale results

[DonkeyApple]

PhantomPH said:

The Wookie said:

Some incredible numbers in there but one thing stands out...

http://www.rmsothebys.com/tv16/duemila-ruote/lots/...

WTF was this stter being sold in that auction for??

Even more remarkably, there was someone who clearly thought, "I'll have that!" and paid over €2k for it!!! I wonder if they are interested in these magic beans I have...

I've heard that Stevie Wonder is ecstatic at the bargain price of his new classic Rolls.

[aerospoke]

Don´t forget that you have to ad 22% VAT and 12% comission to all those prices.

Which makes the 336k Alfa Bertone GTA a 450k plus car. Hardly market value for 1 of these.
But it was a nice venue and fun to watch.

[RichB]

aerospoke said:

Don´t forget that you have to ad 22% VAT and 12% comission to all those prices.

Which makes the 336k Alfa Bertone GTA a 450k plus car. Hardly market value for 1 of these.
But it was a nice venue and fun to watch.

I understand that VAT only applies to the fees not the hammer price.

[greggy50]

2 x 996 Carrera 4S with 50k miles and fk all history going for nigh on 50,000 euros + fees madness

[Hugh Jarse]

Over over under steer said:

DonkeyApple said:

All those Euros flying about desperate to be converted into tangible assets. It's almost as if the Italian banking system is on the verge of collapse and the Germans are talking about bailing in the Italian peoples' savings.

Incredibly insightful and probably not far off the truth. Good comment

Does this have something to do with the Indian Rupee note change somehow?
The prices were nuts, although a couple of gems in there.

[rampageturke]

Oh, that Lambo boat that was estimated at €200-400...

http://www.rmsothebys.com/tv16/duemila-ruote/lots/...

€35k

[Behemoth]

Hugh Jarse said:

Over over under steer said:

DonkeyApple said:

All those Euros flying about desperate to be converted into tangible assets. It's almost as if the Italian banking system is on the verge of collapse and the Germans are talking about bailing in the Italian peoples' savings.

Incredibly insightful and probably not far off the truth. Good comment

Does this have something to do with the Indian Rupee note change somehow?

Over-analysing what really happened. The sale was very well marketed. Rather than being flogged as a tired old annual event, this was publicised as a once in a generation repo sale (all lots originated from a single business that went bust, mired in tax fraud). Catalogues were sent out free worldwide (I wrote in and got one). Attendance was huge and had a much younger demographic than is normal for this kind of thing. Get enough people in with open wallets and an auction will always get top dollar. RM Sothebys did a brilliant marketing job; that's pretty much it.

[fatboy18]

My trip pictures here
https://www.flickr.com/photos/90582394@N02/albums/...

20161126_125545 by Fatboy 18, on Flickr

Edited by fatboy18 on Wednesday 30th November 10:47

[Hugh Jarse]

Behemoth said:

Over-analysing what really happened. The sale was very well marketed. Rather than being flogged as a tired old annual event, this was publicised as a once in a generation repo sale (all lots originated from a single business that went bust, mired in tax fraud). Catalogues were sent out free worldwide (I wrote in and got one). Attendance was huge and had a much younger demographic than is normal for this kind of thing. Get enough people in with open wallets and an auction will always get top dollar. RM Sothebys did a brilliant marketing job; that's pretty much it.

You could be 100% correct. Wonder how many buyers back out citing paperwork complications as grounds. Wonder what background checks are made. Wonder if there was shill bidding. Wonder if the guys debts are now paid given some of these assets would have been bought on 2012 for 25% of what they sold for. Anyhoo like most, its a fascinating event, and now the outcome has been so spectacular, the intrigue has doubled.

[Behemoth]

fatboy18 said:

My trip pictures here

Love it. Great excuse for a weekend to Milan & I'd have done the same myself. I can't think of anything better than coming away from Milan with a good bottle of Barbera & nice memories, letting others less wise than you fuel the market

[rampageturke]

fatboy18 said:

My trip pictures here
https://www.flickr.com/photos/90582394@N02/albums/...

20161126_125545 by Fatboy 18, on Flickr

Edited by fatboy18 on Wednesday 30th November 10:47

https://www.flickr.com/photos/90582394@N02/31302209975/in/album-72157675846462790/
this is great

[northo]

Amazing how the vehicle condition reports seem to conflict! I hear that plenty of the cars were in good condition and I personally think that the issues around title have been blown out of proportion - we shall soon see. Fortune favours the brave. I'm pretty sure we'll all have a chance to buy many of these cars back in the near future....

I wasn't there but as far as I can see some of the buyers will feel like they got a bargain (plenty of low mileage modern supercars that sold for far less than dealer prices) and some of the prices were just crazy. A real mix.

VAT is payable on the full value of only some of the lots - for the rest you just pay VAT on the premium.

[sim16v]

I was there, and it was a fantastic spectacle to see the cars in one place, with a real buzz in the air.

Some of the cars looked amazing, some looked presentable and some looked downright shabby, but the prices achieved for a lot of average cars, were, in my opinion, spectacular.

I'd also suggest that there was a little bit miss representation going on as well.

Take the Merc 600 for example.

Looked tidy, suspension sitting nicely so you'd think the airbags were ok?

Imagine finding this once it was shipped back to you....







A nice bit of threaded bar with nuts and washers supporting the suspension

[fatboy18]

Same with one of the panteras sold, car looked OK, engine in place, but no rear exhaust system to be found.

[sim16v]

There were a lot of inconsistencies.

The engine in the Gp A M3 wasn't from that car, just dropped in with no inlet/injection system, no exhaust, wiring or plumbing.

The BMW 2002 race car had spare wheels in it, from a Lancia!

The Martini Integrale had a pallet of spares with it, the pallet was half Lancia spares, half Alfa 75 spares!