Bonhams Geneva Auction

[12TS]

An interesting collection let’s say.

https://www.theguardian.com/world/2019/sep/29/swis...

https://www.bonhams.com/auctions/25819/#/aa0=7&amp...


That Veneno looks hideous, but there’s also a LaFerrari, F50, Veyron etc.

All without reserve, so that could be a useful indicator of the current market.

[Drclarke]

Some amazing high prices achieved.

It’s looks like the bubble is reinflating!

[12TS]

£3.8m for the Koenigsegg

https://www.bonhams.com/auctions/25819/lot/24/

[hornbaek]

1.5m for the 918 before fees !

[037]

Less than 50 for the 550!

[Cheib]

Some of those prices are mad.

https://www.bbc.co.uk/news/world-europe-49871671

Guessing these cars were a “nest egg”....easy to move across borders and a decent place to hide ill gotten gains. Makes you wonder if the dealers or manufacturers that sold these cars to him check on Money Laundering.....

[WCZ]

seems to have defied the recent trend, crazy numbers

[Ferruccio]

Maybe he bought them back.

[Cheib]

Or maybe there’s something about the auction being in Switzerland or even that the purchase costs were going to good causes.

[Cheib]

12TS said:

£3.8m for the Koenigsegg

https://www.bonhams.com/auctions/25819/lot/24/

It seems Koenigsegg were pretty upset about the estimate....I wonder who bought it ?!

https://www.koenigsegg.com/bonhams-should-you-trus...

[WCZ]

Cheib said:

It seems Koenigsegg were pretty upset about the estimate....I wonder who bought it ?!

https://www.koenigsegg.com/bonhams-should-you-trus...

absolutely pathetic from koenigsegg, it's none of their business.

[Ferruccio]

WCZ said:

absolutely pathetic from koenigsegg, it's none of their business.

Quite.

Stuff gets sold materially above, below and within auction estimates every day. Lots goes unsold.

Their reaction looks like a sign of weakness and lack of confidence.

The only thing that matters is actual real bids on the day and completion of the deal afterwards.

[Cheib]

I guess it was a big issue for them if the car sold cheaply.....hard to justify prices they charge if that happens to your ultimate model.

[WCZ]

Cheib said:

I guess it was a big issue for them if the car sold cheaply.....hard to justify prices they charge if that happens to your ultimate model.

good luck trying to force the market, these cars are very difficult to sell as it is second hand - dealers are stubborn with their pricing (probably through pressure from the manufacturer) and cars have sat there in the past for several years unsold

for example this car:
https://www.supervettura.com/Car-Details/2005-Koen...

has been for sale since 2014
https://web.archive.org/web/20141024133825/http://...

at
2014 - £599,950
2016 - £749,000
2017 - POA
2018- £1,100,000
2019- POA

Edited by WCZ on Thursday 3rd October 12:29

[BlackR8]

WCZ said:

good luck trying to force the market, these cars are very difficult to sell as it is second hand - dealers are stubborn with their pricing (probably through pressure from the manufacturer) and cars have sat there in the past for several years unsold

for example this car:
https://www.supervettura.com/Car-Details/2005-Koen...

has been for sale since 2014
https://web.archive.org/web/20141024133825/http://...

at
2014 - £599,950
2016 - £749,000
2017 - POA
2018- £1,100,000
2019- POA

Edited by WCZ on Thursday 3rd October 12:29

So its been for sale for years and in that time has doubled in asking price

[priley]

I think another car to disappoint the seller was the California, which was manual and went around €120k. I think the one previously sold went for $400k. As the chap on F Chat said, the only person more upset than the seller was person who paid 400 a couple of years ago. Ouch.

[Mikebentley]

Just replied to K on their site. I have pointed out how auctions basically work and any item will ultimately find its true value. I have also advised them that all auctioneers use “ come get me” low estimates to entice bidders who will ultimately not win the item. Everybody but one will be disappointed but if an underbidder has bid his maximum then so be it. I am one of life’s underbidders but sometimes I get lucky.

[WCZ]

Mikebentley said:

Just replied to K on their site. I have pointed out how auctions basically work and any item will ultimately find its true value. I have also advised them that all auctioneers use “ come get me” low estimates to entice bidders who will ultimately not win the item. Everybody but one will be disappointed but if an underbidder has bid his maximum then so be it. I am one of life’s underbidders but sometimes I get lucky.

they know how auctions work, they are just being childish imo