Ferrari 512BB sold on Collecting Cars

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With all this talk about values I'm surprised no one has mentioned this yet. A 512BB sold on Collecting Cars for £115k (or around £121 with their capped £6k buyer fees) which is less than half the nearest advertised RHD which is around £250k minimum for anythinng advertised? https://collectingcars.com/for-sale/1976-ferrari-5...

There's been a lot of talk about this website which is doing something straightforward but clearly doing it very well. I thought initially as this had sold in early March, this could be before the website had the traffic to pick up bids (i.e. an "imperfect market" at the time) but there are plenty of auctions before and just after this where values seem to be at a reasonable level. I then thought is it because it has a niche level of interest nowadays but there are plenty of other cars with niche interest which went for closer to advertised values around this time and its a 70s flat-12 Ferrari after all.

This car had a colour change at some point but otherwise appeared to be a very good example, so is this just a case of lucky buyer or is this really where values should be on these cars?

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MDMA . said:

Someone's taken a bath on that.

https://www.artebellum.com/en/classic-cars-for-sal...

Presume it was potentially on SOR there but still went for over £100k less than what they were asking

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jtremlett said:

I don't know where BB prices really are. Dealers seem to have made a concerted effort to push their prices up over the last 3 or 4 years but they don't seem to shift at 300k+ and that doesn't surprise me in the least. However, the auction car pretty much tells you where the bottom is. In a market that values originality it is a car that has been hacked about over the years and still has a load of aftermarket modifications. Whilst I fully accept that some people like the modifications, the market doesn't and the value will be that much less as a result.

I don't think the buyer got a bargain. To compare it with other BBs you'd have to consider the cost to make it like other BBs (i.e. Factory standard) and that would be considerable and you'd still end with a car that had history of having been chopped about.

Thanks for your input but surely for someone who is being sensible with where he gets the parts, it wouldnt cost more than £15-20k to put this back to standard (even with the wheels and new springs) which still leaves a good £60-70k between this and the next cheapest example on the market which on double checking appears to be a private car at £200k (dealer examples still start at £250k)