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Thread: Scottsdale Auctions

  1. #1

    Scottsdale Auctions

    Attended Bonhams on Thursday and Gooding Fri/Sat. At Bonhams a 2002 silver over black #61395 was a no sale after bidding reached $150,000. A 2003 Alpina black over black #62514 also was a no sale. At Gooding, a silver over black 2003 Alpina #622291 with 5150 miles was also a no sale when bidding stopped at $200,000. There was very little participation. It was a bit depressing.
    Eric Wentzel

    2001 Z8 silver / black
    2008 650i cp silver / black


  2. #2
    Did you have a sense of what cars were hot with good bidding activity and pricing? Im a glass is half full kinda guy, so maybe the Z8 is a buying opportunity until folks thaw out in the spring from a record cold East coast winter.
    My Best,

    Ed

    2002 Z8 Jet Black//Sport Red
    2012 SLS AMG Obsidian Black/Classic Red

  3. #3
    I thought that the RetroMod American muscle cars were just going for incredible prices. Man of them looked fantastic with very high quality craftsmanship even if not my cup of tea. It seemed that many European cars did not go that high or did not meet reserves.
    Skip Hammerman

    2002 BMW Z8 - Meisterschaft GT, PP installed, CDV delete
    2013 BMW X3
    2015 Porsche 911 Targa 4S

  4. #4
    Quote Originally Posted by EDEZ8 View Post
    Did you have a sense of what cars were �hot� with good bidding activity and pricing? I�m a glass is half full kinda guy, so maybe the Z8 is a buying opportunity until folks thaw out in the spring from a record cold East coast winter.
    My sense was that results were generally worse overall than the auction companies were expecting. From what I saw Porsches from the 60s and 70s were fairly strong. Ferraris from the 70's, 80's and 90's were not well bid, even as many of these cars had very low miles. Some highly restored or pristine survivor early 60s Corvettes were well bid. I saw resto-mods at Barrett-Jackson doing well, but I think these are rapidly depreciating assets, as future supply is unlimited. Gooding and Bonhams don't have any of those. B-J also seemed to have more trucks than in the past and some of these were doing quite well. Early SUVs like Broncos or Range Rovers also seemed to be doing well. The majority of bidders at Gooding and Bonhams traveled from East coast, Europe and California based on my observation. The highest price I saw paid was $7.35 million (+premium) for a one of one 1965 Ferrari 275 GTB Speciale which was the personal car of Battista Pininfarina. Even that was just above the $7.3 million reserve. Gooding had estimated $8 to 10 million in the catalog.
    Eric Wentzel

    2001 Z8 silver / black
    2008 650i cp silver / black


  5. #5
    That is a bit depressing, especially the low participation part. I've had a concern for some time that the classic car market is fueled by baby boomers with a lot of garage space and comparatively high new worth. This is itself isn't an issue, but the comparative lack of young blood coming into the space seems to be a bigger concern for the future valuations.
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  6. #6
    Quote Originally Posted by EDEZ8 View Post
    Did you have a sense of what cars were �hot� with good bidding activity and pricing? I�m a glass is half full kinda guy, so maybe the Z8 is a buying opportunity until folks thaw out in the spring from a record cold East coast winter.
    My sense was that results were generally worse overall than the auction companies were expecting. From what I saw Porsches from the 60s and 70s were fairly strong. Ferraris from the 70's, 80's and 90's were not well bid, even as many of these cars had very low miles. Some highly restored or pristine survivor early 60s Corvettes were well bid. I saw resto-mods at Barrett-Jackson doing well, but I think these are rapidly depreciating assets, as future supply is unlimited. Gooding and Bonhams don't have any of those. B-J also seemed to have more trucks than in the past and some of these were doing quite well. Early SUVs like Broncos or Range Rovers also seemed to be doing well. The majority of bidders at Gooding and Bonhams traveled from East coast, Europe and California based on my observation. The highest price I saw paid was $7.35 million (+premium) for a one of one 1965 Ferrari 275 GTB Speciale which was the personal car of Battista Pininfarina. Even that was just above the $7.3 million reserve. Gooding had estimated $8 to 10 million in the catalog.
    Eric Wentzel

    2001 Z8 silver / black
    2008 650i cp silver / black


  7. #7
    Agree that the classic car market has really been driven by baby boomers with lots of passion for cars and lots of disposable income. The market seems to have peaked a couple years ago. Most of the bidders I saw were well heeled guys in their 60s and 70s. Millennials are a big group with potential wealth accumulation but they seem to lack passion for cars. The good news is that some cool cars that we missed on the way up could become affordable on the way down. Drive them and enjoy them just don't expect them to make you rich.
    Eric Wentzel

    2001 Z8 silver / black
    2008 650i cp silver / black


  8. #8
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    Barrett Jackson

    Quote Originally Posted by ericw View Post
    Attended Bonhams on Thursday and Gooding Fri/Sat. At Bonhams a 2002 silver over black #61395 was a no sale after bidding reached $150,000. A 2003 Alpina black over black #62514 also was a no sale. At Gooding, a silver over black 2003 Alpina #622291 with 5150 miles was also a no sale when bidding stopped at $200,000. There was very little participation. It was a bit depressing.
    At BJ the 2002 red/creama 19.7k miles sold for $181k including buyers fee. This car had been for sale for a while and was a no sale at GAA last year. At BJ the 2002 black/red-black 13k mile car sold for $217k including buyers fee.

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