RM Auction 5th Sep- Some interesting Pork!

[Cheib]

Some interesting cars coming up for auction tomorrow. Will be very interested to see how they do.

12k mile UK one owner 997.2 GT3 RS estimate £140k to £160k

https://rmsothebys.com/en/auctions/LF18/London/lot...

56k mile 966 3.6 Turbo estimate £160k to £200k (slightly questionable history given UK car but at one stage had a KM speedo fitted)

https://rmsothebys.com/en/auctions/LF18/London/lot...

26k km originally NZ registered 996 RS estimate £70k to £100k (seems like a very usable car at that price)

https://rmsothebys.com/en/auctions/LF18/London/lot...

Delivery mileage UK 911 R estimated at £275k to £325k...doesn't say if it has the SMFW

https://rmsothebys.com/en/auctions/LF18/London/lot...

964 Turbo Cabriolet one of six cars estimte £375k to £425k. 18 months ago owner could probably have named their price!

https://rmsothebys.com/en/auctions/LF18/London/lot...

There's also some more exotic stuff like a 993 GT2, 918 Spyder and 964 RS 3.8 up for sale.

[gbrown2014]

The 996 RS is certainly a big risk without knowing the full extent of the damage and who it was rebuilt by, if that information is not readily available I would bet it won't reach it's high estimate.

The estimates in general seem a little lower than what we have become accustomed to, the auction will be a good indicator of the strength of the current market

[kayc]

gbrown2014 said:

The 996 RS is certainly a big risk without knowing the full extent of the damage and who it was rebuilt by, if that information is not readily available I would bet it won't reach it's high estimate.

The estimates in general seem a little lower than what we have become accustomed to, the auction will be a good indicator of the strength of the current market

The mad bull market is over for now..its time to separate the wheat from the chaff again like it was a few years back..i still think top cars with proper history and provenance will be sought after..Rs 's that have required £30k of repair work much less likely to be in demand even with a big discount.

[Cheib]

Assuming the work that has been done to that RS is up to standard I think it'll sell easily at that price...someone will want to buy and it and use it as it should be used. Mint ones are getting too expensive to be used on track. Although the fact it's ended up at auction maybe means there are issues.

The R will be an interesting one....much lower estimate range than where dealers are advertising them. Lots of people trying to talk them down in value with the GT3 Touring out so lets see how it does.

[hamptons79]

I believe there is VAT to be paid on the hammer price for the R as it is registered to a company.

[SRT Hellcat]

there is some big money stuff in the auction. It will be interesting to see the results

[gbrown2014]

hamptons79 said:

I believe there is VAT to be paid on the hammer price for the R as it is registered to a company.

would that mean that the company will have to pay the VAT on the gain and tax on the profit? i can't make sense of why a company would buy cars like this because of the tax implications

[Cheib]

gbrown2014 said:

hamptons79 said:

I believe there is VAT to be paid on the hammer price for the R as it is registered to a company.

would that mean that the company will have to pay the VAT on the gain and tax on the profit? i can't make sense of why a company would buy cars like this because of the tax implications

Depends where the company is domiciled, what the tax base is etc. But yes if it was just a UK company it has to pay Corporation Tax rather not being taxable as an individual.

My guess is it's probably a company in somewhere like Jersey. People can have offshore trusts where there isn't CGT for example.

[Jim1556]

996 RS: Fully rebuilt by Porsche NZ (with invoices), comes to the UK and then needs an extra £30k spending on it?



Am I missing something?

[isaldiri]

Cheib said:

Assuming the work that has been done to that RS is up to standard I think it'll sell easily at that price...someone will want to buy and it and use it as it should be used. Mint ones are getting too expensive to be used on track. Although the fact it's ended up at auction maybe means there are issues.

Not sure I agree. Buying a non history car even if it costs more means it'll be much easier to shift later. Unless one truly means to buy and keep forever (or even for a really long time) which practically no one ever does let's face it, lower entry price of the repaired car doesn't necessarily mean it's the better option to be bought to use unless one means to drive it hard enough on track to seriously risk going off again......

[WCZ]

Jim1556 said:

996 RS: Fully rebuilt by Porsche NZ (with invoices), comes to the UK and then needs an extra £30k spending on it?



Am I missing something?

yes, read it again - "new carpets", the car had new carpets fitted

[Jim1556]

I must be blind, can't believe I missed that!

[Wilmslowboy]

live stream


https://rmsothebys.com

[Cheib]

A Lada that was used in the ‘79 Paris Dakar and estimated at £50k to £75k just sold for £4K. Not sure I’ve ever seen a car sell at an auction like this at half the low estimate...never mind a tenth!

[Wilmslowboy]

Cheib said:

A Lada that was used in the ‘79 Paris Dakar and estimated at £50k to £75k just sold for £4K. Not sure I’ve ever seen a car sell at an auction like this at half the low estimate...never mind a tenth!

Had I been there I would have bought it - what a load of fun for this winter

I've bought much worse for much more......

[PS2018]

Auction not going well so far is it? 720pm as I type and sell through rate must be under 50%. Some very very ambitious estimates.
3.8 964 RS made £825k hammer I think
The 993 GT2 passed at 700k?
Gemball 993 turbo high bid was 170k.
A lot of cars being returned to the sellers. Wonder how much of a barometer this auction is

Edited by PS2018 on Wednesday 5th September 19:31

[Cheib]

PS2018 said:

Auction not going well so far is it? 720pm as I type and sell through rate must be under 50%. Some very very ambitious estimates.
3.8 964 RS made £825k hammer I think

Watched a couple of lots and no it isn't going well....918 Spyder just failed to sell at £900k best bid estimate £1.1 mil to £1.2mil

[Andy-6ufnp]

918 was bid to £900k but plus VAT and then auction fees on top so £1.1m+. Not sure if he had the bid though.

[PS2018]

So the delivery mileage 911R goes for £291k hammer, what does that mean for bottom line? £315k or so?
Auctioneer got angry that a 290 bid increment was actually a 291k bid and not 295k as he thought.
Im only watching online but a very different atmosphere in the room to 2014-15!

[isaldiri]

hamptons79 said:

I believe there is VAT to be paid on the hammer price for the R as it is registered to a company.

Don't think so

from the website

""VAT on the initial purchase has been paid in the United Kingdom.""

https://rmsothebys.com/en/auctions/LF18/London/lot...