Is this the biggest Classic Auction blunder ever?

[RDMcG]

Typ 64 auction - fails to sell after auctioneer mistake.....

https://www.bloomberg.com/news/articles/2019-08-18...

[RDMcG]

That is confusing...the video shows the car as sold , but Bloomberg reports it was still listed as "for sale" after the auction..

Not sure if it sold or not.

[RDMcG]

It is also true right now that the market has peaked...last few auctions have been soft. I wonder if this car will come up for auction again any time soon. My guess is that they will try for a private deal.

[RDMcG]

Interesting that Porsche says this is not the first Porsche, but the 1948 car is. However, this car was reregistered as a Porsche by the family in 1946 despite its VW origin, and the family put the Porsche lettering on it.

Will Porsche keep displaying the repro bodyshell with the Porsche lettering at the Museum I wonder??...here is a shot I took:

[RDMcG]

Luke. said:

That lettering looks like something out of Halfords.

The auction car was not much better so the repro was faithful:

[RDMcG]

I do not believe there is any conspiracy, but I would suggest that an auctioneer should have impeccable diction, especially in a widely publicized auction like this one.

[RDMcG]

This car will now have a permanent addition to its history.

[RDMcG]

The overall results across the global auction scene for the last few months have shaken a downward trend and I think it is more than the cars or the fashion. My sense is that we have a recession of some severity on the way and people will wait not till prices drop further.

[RDMcG]

Miserablegit said:

Isn’t it funny how when the screen was showing tens of millions there seemed to be plenty of bidders but when it dropped back to a (mere) $17m the heat had left the bidding. Pure speculation clearly.
Can’t say I see the interest in that car despite/because of its history. A golf R is quicker

Well, they're both VWs

[RDMcG]

In the US the magazine Sports Car Market is a very good guide to values and publishes all major auction results. The last few editions have been painting a more sober picture than in the foamy days. Cars like the '73 RS are way off their highs and lesser Porsches have all dropped.

[RDMcG]

E36Ross said:

What I don't understand is the people actually bidding the 50/60/70 million dollars?

Surely they were watching the screen and wondering WTF was going on

My thought exactly...who for instance actually bid (say) $50 million? They would have seen it on the screen. Might be some very relieved bidders out there.

[RDMcG]

PorkInsider said:

No. The bidders knew exactly what was going on.

They just stopped at 17m and he tried to get them going again.

It was the 'spectators' and the person manning the screen who didn't know what was going on.

Yet, somewhere the auctioneer was hearing the big numbers..he repeats $70M!! at one place clearly so he must have thought that this was a whale offer....they did not imagine those pre-correction bids.

[RDMcG]

PS2018 said:

i
lets see if he is on duty at the next RM sale!

About as likely as Jeremy Clarkson hosting University Challenge.

[RDMcG]

I had actually bid 70 million Reichsmarks which might have caused the confusion.

[RDMcG]

Here is an excellent analysis of what happened and the future of the car:


https://www.bloomberg.com/news/articles/2019-08-22...