Air Cooled Bubble?
#511
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?
Richard Newton
What is the stewardship thing all about?
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?
Richard Newton
What is the stewardship thing all about?
#512
That's not an original car under most circumstances. Or is it?
Richard Newton
What is the stewardship thing all about?
#513
Rennlist Member
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).
#514
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.
It will be interesting in 3-5 years what these now much higher miles and less stock cars will go for.
#515
GT3 player par excellence
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Lifetime Rennlist
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^ 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.
so buy the car and drive the damn thing.
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.
so buy the car and drive the damn thing.
#516
Rennlist Member
$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.
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.
#517
The art market is surging. That's a good sign for the collector car market. It seems that the Panama Papers didn't even cause a ripple in the market.
Get ready for craziness at Monterey.
Richard Newton
Miami Beach Concours
Get ready for craziness at Monterey.
Richard Newton
Miami Beach Concours
#518
Today on CNBC they had a piece "is the art market cracking"
#519
Maybe they need to talk to the folks at the New York Times,
The only thing you can say with certainty about the auctions it that they aren't transparent.
Richard Newton
The only thing you can say with certainty about the auctions it that they aren't transparent.
Richard Newton
#521
There are a lot of variables. First, you're going to have transportation costs just getting the car to the venue. Factor that into your decision.
Hotel rooms at both venues are going to be $500 a night. That comes right out of your profit.
Then we have the seller's fee with is negotiable. Which auction house will give you lowest fee?
My feeling is you need to have a car with provenance at both Monterey and Amelia. An average car will get no interest at either venue.
Here's an article I wrote about all of this last year.
Richard Newton
Hotel rooms at both venues are going to be $500 a night. That comes right out of your profit.
Then we have the seller's fee with is negotiable. Which auction house will give you lowest fee?
My feeling is you need to have a car with provenance at both Monterey and Amelia. An average car will get no interest at either venue.
Here's an article I wrote about all of this last year.
Richard Newton
#522
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There are a lot of variables. First, you're going to have transportation costs just getting the car to the venue. Factor that into your decision.
Hotel rooms at both venues are going to be $500 a night. That comes right out of your profit.
Then we have the seller's fee with is negotiable. Which auction house will give you lowest fee?
My feeling is you need to have a car with provenance at both Monterey and Amelia. An average car will get no interest at either venue.
Here's an article I wrote about all of this last year.
Richard Newton
Hotel rooms at both venues are going to be $500 a night. That comes right out of your profit.
Then we have the seller's fee with is negotiable. Which auction house will give you lowest fee?
My feeling is you need to have a car with provenance at both Monterey and Amelia. An average car will get no interest at either venue.
Here's an article I wrote about all of this last year.
Richard Newton
thanks
#523
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.
Richard Newton
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.
Richard Newton
#524
Three Wheelin'
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.
http://www.rmsothebys.com/mc16/monaco/results/
http://www.rmsothebys.com/mc16/monaco/results/
#525
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.