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They auctioned a no mile '16 RS for $220. Seller got $198, buyer paid $242. Also auctioned an '11 RS with 300 miles for $800k from a collector, same buy/sale % apply. Bugatti Chiron and LaFerrrari did not hit reserve north of $3.5M each. Same collector owned all these cars except the '11 RS
BJ may be interesting.
I was there at Mecum this past Friday... and both very low-mileage like-new 991.1 GT3RS and 997.2 GT2RS are indeed part of Michael ***'s collection... he had a bunch of his one-of Ferraris there too. And the white 4.0 997.2 GT3RS (it had 3,942 miles; one the very first 4.0's delivered to FL at Champion; he traded in his 3.8 RS for it) is owned by a local south FL collector (ex-racer J. Hinestrosa)... he also sold his 356C at Mecum on Saturday. The sold prices listed online on Mecum's site includes the premium (10%) added.
I have a hard time understanding some of these cars at auction when you consider auction fees.
Can someone more in touch with the RS market answer this for me please?
Couldn't the seller easily get more than 198k in his pocket for a 16 RS with low mileage? I understand the potential upside based on the bidders you get but it seems like in many cases the auction fees just don't make great sense. I really don't know much about the market though so maybe I am way off base.
I have a hard time understanding some of these cars at auction when you consider auction fees.
Can someone more in touch with the RS market answer this for me please?
Couldn't the seller easily get more than 198k in his pocket for a 16 RS with low mileage? I understand the potential upside based on the bidders you get but it seems like in many cases the auction fees just don't make great sense. I really don't know much about the market though so maybe I am way off base.
some do not want to deal with tire kickers and their time is worth more than the hassle
I have a hard time understanding some of these cars at auction when you consider auction fees.
Can someone more in touch with the RS market answer this for me please?
Couldn't the seller easily get more than 198k in his pocket for a 16 RS with low mileage? I understand the potential upside based on the bidders you get but it seems like in many cases the auction fees just don't make great sense. I really don't know much about the market though so maybe I am way off base.
Was it a reserve auction? If not I believe it's 8%. I'm also guessing there could be a negotiated multi car discount. For a lot of people it's just easier.....
I have a hard time understanding some of these cars at auction when you consider auction fees.
Can someone more in touch with the RS market answer this for me please?
Couldn't the seller easily get more than 198k in his pocket for a 16 RS with low mileage? I understand the potential upside based on the bidders you get but it seems like in many cases the auction fees just don't make great sense. I really don't know much about the market though so maybe I am way off base.
Agree with this. But for the seller, if you can set a reserve and dump a bunch of cars at once with little hassle, I guess it makes sense. But the buyer paid 220k + 10% - so this car cost the buyer 242k for a car which is readily available in the 210s. This makes no sense to me to be a buyer, pay market rate plus the bidding premium.
01-15-2018, 09:04 AM
Mecum Auction for Porsche
