Is the bubble about to burst?

[drmark]

Moosh said:

Are you saying aircooled porsches are not exceptional. With talk like that you will drive the prices down.

But seriously I don't think most air cooled 911s are exceptional. And I speak as someone who has been lucky enough to own most, including a 2.2s. Great cars, but struggle to see how ordinary examples of later ones warrant prices being paid. But perhaps I should stick to what I know

[Sine Metu]

loughran said:

EricE said:

1973 2.4S for example:

What was it that happened in September 2012 that sparked such a sudden rise ?

Yes! What did happen in September 2012?

[Sine Metu]

anonymous said:

[redacted]

I mean the original brief to the engineers, production team.

[Crimp]

david hockney said:

911 Virgin have a bog standard 993 C2 manual coupe due in......for sale at 55 grand......
this would imply the bubble is not bursting just yet.

Silly
"Not a lot of car for a lot of money"

[EricE]

Sine Metu said:

loughran said:

EricE said:

1973 2.4S for example:

What was it that happened in September 2012 that sparked such a sudden rise ?

Yes! What did happen in September 2012?

I don't think anything special happened then. Early 911S prices started to rise in 2010 and Hagerty (an insurance company) likely didn't react to the trend until September 2012.

This green line is closer to the truth IMO (yes shoddy photoshop ) :

[EricE]

RM Sothebys auction currently ongoing at https://www.youtube.com/watch?v=d7B2Oc8yiFI if you feel like watching a bubble burst.

http://www.rmsothebys.com/lf15/london/lots/1965-po...

911 '65 race car estimate £65,000 - £85,000 sold for £50,000

http://www.rmsothebys.com/lf15/london/lots/1991-fe...

Testarossa with 400 kilometers estimate £160,000 - £190,000 sold for £135,000

http://www.rmsothebys.com/lf15/london/lots/1987-ac...

Cobra estimate £120,000 - £140,000 sold for £55,000

http://www.rmsothebys.com/lf15/london/lots/1965-la...

Lancia Flavia Sport £45,000 - £55,000 sold for £30,000

http://www.rmsothebys.com/lf15/london/lots/2006-po...

Carrera GT estimate £475,000 - £550,000 sold for £400,000

http://www.rmsothebys.com/lf15/london/lots/1989-po...

911 Speedster estimate £180,000 - £220,000 sold for £155,000


Lots #125 (CGT), #142 (356 A Carrera), #145 ('73 911 2.7 Touring), #159 (993 Turbo S) will be interesting.

Edited by EricE on Monday 7th September 19:45

[g7jhp]

All London Lots are here
http://www.rmsothebys.com/lf15/london/lots/?sort=l...


LOT129 1968 Ferrari Dino 206 GT at £310k (was expected £325-375k)....sure the seller still made a few £££'s.
http://www.rmsothebys.com/lf15/london/lots/1968-fe...

LOT139 1989 Porsche 911 Speedster at £155k (was expected £180-220k).
http://www.rmsothebys.com/lf15/london/lots/1989-po...

LOT141 1981 Lamborghini Countach LP 400S at £235k (was expected £245-315k)
http://www.rmsothebys.com/lf15/london/lots/1981-la...

LOT142 1956 Porsche 356 A Carrera 1500 GS Coupé by Reutter at £270k (was expected £300-350k).
http://www.rmsothebys.com/lf15/london/lots/1956-po...

LOT144 1973 Ferrari 365 GTB/4 Daytona Spider by Scaglietti at £1.7m (was expected £2m-£2.4m).
http://www.rmsothebys.com/lf15/london/lots/1973-fe...

LOT145 1972 Porsche 911 Carrera RS 2.7 Touring at £380k (was expected £425-525k).
http://www.rmsothebys.com/lf15/london/lots/1972-po...

LOT158 1953 Porsche 356 Pre-A 1500 Coupé by Reutter at £145k (was expected £190-230k).
http://www.rmsothebys.com/lf15/london/lots/1953-po...

LOT159 1998 Porsche 911 Turbo S at £190k (was expected £250-280k).
http://www.rmsothebys.com/lf15/london/lots/1998-po...

LOT163 1962 Porsche 356 Carrera 2 Coupé by Reutter at £345k (was expected £350-400k).
http://www.rmsothebys.com/lf15/london/lots/1962-po...

LOT168 1992 Ferrari F40 at £755k (was expected £780-900k).
http://www.rmsothebys.com/lf15/london/lots/1992-fe...

All bids on the hammer price, so before fees!

Edited by g7jhp on Monday 7th September 21:06

[mdianuk]

I sense the money is moving out of these cars for the time being.

[FrankCayman]

Thank you for the link...enjoying this!!!

[aceparts]

Brilliant - thanks

[Koln-RS]

Don't forget to add the Buyer's Premium to calculate the true selling price.

[Legacywr]

That LHD narrow body Speedster, went for strong money IMO,

[Geesus]

Wow! Interesting results.

[EricE]

[DT398]

993 Turbo S unsold at £190k

[EGTE]

Great fun feed, that Sotheby's thing.

Comments better than the auction, mind.

Prices definitely seem......restrained.

[Solarized]

Seasonal price adjustments?
Who knows yet.
IMO this " bubble " likely only applies to some overpriced cars not the market as a whole.

[OlberJ]

A slowing down/rationalisation is not a burst.

They're still going to be worth more than i can afford!

Btw that's my 964 c2 that originally shocked folk in the thread.

Sold in March yo the guy now selling.

[roygarth]

If you add buyers premium of what, 15%? It doesn't look so bad, even for the Porsches. The Ferraris are selling within estimate, albeit towards the low end.

Not my definition of a bubble bursting but who knows....

[mdianuk]

The reserves (from what I understand) are based on pre-buyers premium though, so most were under their targets and hence many of them didn't sell, including the 911 Turbo. Compared to previous positive auctions, there didn't appear to be many bidders, just a handful.

I know for certain if I had that kind of cash hanging around that the F40 seemed to sell very cheap at ~£700k.