550 Barchetta Zagato in Bonhams Auction Today
Discussion
Shmee said:
Not a good result, that's all I can say.
You are kidding, right? Like a lot of recent Zagato products, it's been well and truly beaten by the ugly stick. Regardless of its rarity, it is still an ugly car. Look to the F & F Jeancart T23 that sold for good money at RM in Battersea - beautiful car/beautiful money....Not a good result for the seller; you've missed my point completely. In my personal opinion that is more than the car is worth; but the seller has just taken an absolutely HUGE hit on that car hence it isn't a good result.
It also isn't a good result for Bonhams because they hoped to raise significantly more in premium than they now have done.
ETA: For interest I have sat in this car, and here is my video of it: http://www.youtube.com/watch?v=vWbCPsXqEqo
It also isn't a good result for Bonhams because they hoped to raise significantly more in premium than they now have done.
ETA: For interest I have sat in this car, and here is my video of it: http://www.youtube.com/watch?v=vWbCPsXqEqo
Edited by Shmee on Monday 6th December 17:36
Shmee said:
but the seller has just taken an absolutely HUGE hit on that car hence it isn't a good result.
It also isn't a good result for Bonhams because they hoped to raise significantly more in premium than they now have done.
So the owner bought it as an investment and hasn't turned a profit - well sIt also isn't a good result for Bonhams because they hoped to raise significantly more in premium than they now have done.
t happens. Even those who boguht the more prosaic Barchettas are sitting on losses.And as for Bonhams - they ought to consign some better cars too - there are some....errmmm....not so nice....cars in that auction...
...and I can't feel sorry for the auction houses - they've made good money recently....
I can't work out your attitude, do you have some attachment to the new buyer? It is of more direct concern to myself that the Bonhams Motorcars dept. is successful than not so needless to say I would have rather they took more for it.
Unfortunately, if due to the nature of the current economic situation that means they must consign less nice cars than in recent times then so be it.
Unfortunately, if due to the nature of the current economic situation that means they must consign less nice cars than in recent times then so be it.
Shmee said:
I can't work out your attitude, do you have some attachment to the new buyer? It is of more direct concern to myself that the Bonhams Motorcars dept. is successful than not so needless to say I would have rather they took more for it.
Unfortunately, if due to the nature of the current economic situation that means they must consign less nice cars than in recent times then so be it.
Sorry Shmee, I didn't know that you were connected to Bonhams. Clearly, given that fact, of course you'll be interested in how they fare. Unfortunately, if due to the nature of the current economic situation that means they must consign less nice cars than in recent times then so be it.
I'd like to pass comment on the economic situation though; most folks, when faced with the reality than the market is soft, reduce their prices - happens in my industry too - in your industry, this takes the form of being more realistic about reserves, even if it means losing the business to another auction house. I'll get round to working out the percentage of lots sold versus unsold when I get a few minutes.
I thought that the prices at RM were strong. There were some serious buyers there and the marquee cars all sold well. But then Rob Myers is a canny chap of course...only other person I have seen work the room better was Bob Hope....
As others have said, with a few possible and arguable exceptions, Zagato haven't produced a decent looking car for years and haven’t produced a decent looking Ferrari for 50 years
The only reason that this car would be worth more than a standard 550B, is its relative rarity, something that isn’t always linked to its resale value and more often than not, goes hand in hand with how good it looks, or what it did at the race track
Like many others I can remember the late 80's / early 90's classic / exotic bubble going pop, as with housing bubbles, it's something that will happen again and as a result there will be people who will find out the hard way, that cars more often than not, are worth less when it comes time to sell them . . . . . . . . . . anybody else remember £1m F40's reselling a few years later for £100-120k and in the case of at least 1 car, sold off quickly for just over £80k
The only reason that this car would be worth more than a standard 550B, is its relative rarity, something that isn’t always linked to its resale value and more often than not, goes hand in hand with how good it looks, or what it did at the race track
Like many others I can remember the late 80's / early 90's classic / exotic bubble going pop, as with housing bubbles, it's something that will happen again and as a result there will be people who will find out the hard way, that cars more often than not, are worth less when it comes time to sell them . . . . . . . . . . anybody else remember £1m F40's reselling a few years later for £100-120k and in the case of at least 1 car, sold off quickly for just over £80k
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