Ferrari 275 £20m...

[lamboman100]

Not sure if this has been posted elsewhere, but it looks like a 1965, V12, grey 275 GTB/CS may go for up to ~£20m in California, US, in August 2014:

http://www.dailymail.co.uk/news/article-2698255/Is...

[thegreenhell]

The day after the 250 GTO is auctioned, I'd be surprised if it became the most expensive Ferrari ever.

[InsideDealings]

The 250 GTO sale could be all smoke and mirrors as it's owned by the auction's largest funder. If it doesn't get to the right number then he will be buying it back and guess what, he will not be paying the buyers premium or sellers premium!!

There is a huge volume of big ticket Ferrari's offered over the weekend so whatever happens there will be a HUGE amount of PR coming from all 3 of the big auction houses about world record numbers, year on year increase in turnover, best % of sold cars and so on.

Let's see what happens!!

[Cheib]

InsideDealings said:

The 250 GTO sale could be all smoke and mirrors as it's owned by the auction's largest funder. If it doesn't get to the right number then he will be buying it back and guess what, he will not be paying the buyers premium or sellers premium!!

He likely wouldn't be paying sellers commission even if he wasn't their biggest funder.

Don't know any of the specifics of this car but a mate of mine works in a senior position at a major art auction house everyone will have heard of. Almost every big ticket item that goes through is underwritten and not by the auction house but by a client...normally one that is already heavily invested and has an interest in the auction being relatively successful. In return for the underwriting they get a % of the commission. Auction houses used to do underwriting themselves but got heavily burnt in 2008.

It's also the case with items that auction houses compete (such as this) that the sellers don't pay any commission at all and indeed quite often demand a decent amount of the buyers commission too.