RUF CTR up for auction 'No reserve'.
Discussion
Mintbird said:
Desert Dragon said:
Friends have done the same with their old bangers for this auction. All of them to a man have buyer on hand just in case car doesn't get nr how much they want 
how does this work then, genuinely curious how underwriting works. surely someone has to pay for the thing? Both used to underwrite artwork to get the consignment...so in the case of this car say €250k given the low estimate of €275k Come the financial crisis and the lead up of a year or so to some auctions they both did their conkers.
Now what happens is that Sotheby's will find a third party to underwrite the item who will be paid a fee....and quite often a % of the sum the item sells for in excess of the underwritten amount. Typical parties that underwrite are collectors who have a vested interest in making sure that an item doesn't sell too cheaply.
There's all sorts of other nonsense that goes on...sometimes sellers negotiate either no commission or they even get a share of the buyers commissuon as well so they effectively sell the piece for more than the auction price eq Item sells for £100k...buyers comm is 15%. Sellers gets paid £107.5k. We're obviously talking much bigger numbers though.
Oh and sometimes the buyer and seller are linked parties. A certain well known sculptor/artist was one of a syndicate of buyers who bought a skull he'd made encrusted with diamonds...the other people that bought it with him all owned a lot of his artwork already....
Mate of mine used to be "quite high up" at one of the major auction houses.
I think with say a €250k car a seller might find a mate who will "buy" the car to stop it selling too cheaply. Arranged away from the auctoon house.
Classicsport said:
AdamT said:
Car looks lovely and is an incredible colour.
Apologies but I couldn't see any details on the auction page about its history and I have a friend who might be interested in bidding. Has it been in any crashes/accidents?
I’m interested in this car too, can you share a brief overview of its history? Edpecially services and if it has had any crashes or damage?Apologies but I couldn't see any details on the auction page about its history and I have a friend who might be interested in bidding. Has it been in any crashes/accidents?
Cheers
The car had its gearbox flewn from Japan to Pfaffenhausen for a full rebuild at RUF just prior to me buying the car back in 2015 . Unfortunately, Japanese people are very private and often keep service records when they sell cars because they see the reciepts with their name on it as a private document. Ive done some due dilligence in Japan and it seems the RUF outfit that serviced this car shut down in 2011 - somewhere in Japan there is a thick folder....
In my ownership the car had a transport damage in a door and arch, which has been repaired. Aside from that there is no rust and no damage that can be seen anywhere.
Incredible condition for its milage.
Cheib said:
Mintbird said:
Desert Dragon said:
Friends have done the same with their old bangers for this auction. All of them to a man have buyer on hand just in case car doesn't get nr how much they want
how does this work then, genuinely curious how underwriting works. surely someone has to pay for the thing? Both used to underwrite artwork to get the consignment...so in the case of this car say €250k given the low estimate of €275k Come the financial crisis and the lead up of a year or so to some auctions they both did their conkers.
Now what happens is that Sotheby's will find a third party to underwrite the item who will be paid a fee....and quite often a % of the sum the item sells for in excess of the underwritten amount. Typical parties that underwrite are collectors who have a vested interest in making sure that an item doesn't sell too cheaply.
There's all sorts of other nonsense that goes on...sometimes sellers negotiate either no commission or they even get a share of the buyers commissuon as well so they effectively sell the piece for more than the auction price eq Item sells for £100k...buyers comm is 15%. Sellers gets paid £107.5k. We're obviously talking much bigger numbers though.
Oh and sometimes the buyer and seller are linked parties. A certain well known sculptor/artist was one of a syndicate of buyers who bought a skull he'd made encrusted with diamonds...the other people that bought it with him all owned a lot of his artwork already....
Mate of mine used to be "quite high up" at one of the major auction houses.
I think with say a €250k car a seller might find a mate who will "buy" the car to stop it selling too cheaply. Arranged away from the auctoon house.
Anyway in lieu of what else people ask for 930s and 2.7 carreras, the estimate is fairly reasonable if you ask me, but proof is in the pudding as they say...
The car is uber-rare and RUF does not have the parts anymore to build em, there was a fairly well off american who tried just that 10 years ago - was told we no longer have the parts to make em sorry.
Being one of the last CTR`s made in period, it has the 6 speed gearbox.
Also has the rare Clubsport package ( 1 of 7 cars total) which meant Aluminium Full cage and Alu Front fenders as well as a 105 litre fuel tank and stripped out interior.
Doors have a Porsche 959 parts number, expensive as f
k. I dont believe the non-clubsport CTRs have these doors, even the casette is aluminum. they are super-light.
Also has the rare Clubsport package ( 1 of 7 cars total) which meant Aluminium Full cage and Alu Front fenders as well as a 105 litre fuel tank and stripped out interior.
Doors have a Porsche 959 parts number, expensive as f
k. I dont believe the non-clubsport CTRs have these doors, even the casette is aluminum. they are super-light.
EVO article about this car:
http://www.evo.co.uk/porsche/20727/ruf-ctr-clubspo...
They seem to like it:
Looking at the 70-plus lots set to feature in the RM Sotheby's Paris sale on 7 February, the 1989 RUF CTR Clubsport is certainly our favourite...
http://www.evo.co.uk/porsche/20727/ruf-ctr-clubspo...
They seem to like it:
Looking at the 70-plus lots set to feature in the RM Sotheby's Paris sale on 7 February, the 1989 RUF CTR Clubsport is certainly our favourite...
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