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This is the quiet time of year. The market is usually stable until Monterey.
Lucky has a good point. The question is what is considered good money today? I know someone that just bought a long hood 911S for over $400,000 only to find out that the entire front pan had been replaced.
That's not an original car under most circumstances. Or is it?
Good read. Thanks Richard! I forwarded it to my father in law. He has a 65 356 SC coupe in Bali Blue he bought new. Unrestored and may be at the Parade in Vermont (he's still on the fence about taking it).
Interesting trend learning at many cars and coffees in last 2 years. Aircooled 911s are being driven much more - owners now dont care about adding mileage due to appreciation, especially 993 and 964s. I even see and hear about more modifications so "stock" is not the holy grail anymore for many AC 911s.
It will be interesting in 3-5 years what these now much higher miles and less stock cars will go for.
^ when those guys die with a lot of money, their kids will be happy, but meahwhile they have no fun.
i like virgin cars, and i pay a lot for them. the 1986 i bought was more $ than all the one i have seen posted here by A LOT. but i liked it. i am not parking it. miles are being piled on. it wont be worth much soon, but hell i am having a ball. i am sure my kids will get full ride to MIT and Harvard so i am not too worried. if they dont, i already told them, they are moving out at 18, street is a good fast way to learn.
$400,000 with a new front pan? A good PPI should have picked it up. Installed incorrectly it is a big deal.
Collectors collect original cars and those will always hold their own. Hagerty has printed as much in their last email blog. Non-original or marginal cars attempting to "hit the number" are punished accordingly. Good stuff always sells.
Art News is reporting a soft market on the recent NYC sales. A lot of the art is just making the reserve. a Monet that people thought could go as high as $35 million only brought $27 million.
The auction houses feel there is just too much financial insecurity in the world and that the best pieces are being held off the market. Sotheby's got crushed with it's impressions and modern sale. They only had a 66 per cent sell through rate.
Artnet News called it a sober week. “The sky is not falling," New York private dealer Andrea Crane told artnet News on Friday. “The sales were sober. People are buying. There's no disaster out there, at all, and in fact the market is more solid than anyone thought it would be."
The one thing everyone seemed to notice was that ambitious estimates and guarantees have become a thing of the past. I think that will be the case at Monterey as well. A number of auction houses got burned on guarantees last year.
Uncertainty in the financial world will not suddenly disappear. This has to have an effect on Monterey and I suspect some really nice cars won't be offered up. Most sellers will prefer to wait a while and get a higher price.
Mixed results at Monaco too, quite a few failed to reach reserves/estimates resulting in no sale. Sobering of the market is the correct term as some estimations were just silly such as this Peter Klasen 007 - 65 which was estimated at 300-400,000 euro but went for €75,000 ish + fees.
One has to wonder, though, what connection there may be between what happens in the world of big-ticket cars and the market for non-concourse 3.2s, SCs etc.
05-01-2016, 09:48 AM
