CGT Prices
03-10-2017, 08:27 PM
#2296
Rennlist Member
I wouldnt really judge market by some of these auction prices. For example Fusion bought Steven Tylers old Carrera Gt. Its forsale now for $725k. I believe they paid $560k plus fees for it. I looked this car over personally, and it was not well cared for. Even the clear bra looked like Steven put it on himself.
Most of these cars have prior issues, rely on service histories that were completed years ago, carfax issues etc.
Most of these cars have prior issues, rely on service histories that were completed years ago, carfax issues etc.
03-10-2017, 09:52 PM
#2297
03-11-2017, 10:34 AM
#2298
[QUOTE=smokeygt;14022237]To be clear, your post made it look like you were quoting me and it wasn't me that implied the seller would take $470,000. Though I think we can all agree that the high bidder was only willing to pay $570 
Though the sell-side commissions can be murky at best, it's obvious the seller wasn't happy with whatever the $520,000 high bid would have put in his pocket.
Though the sell-side commissions can be murky at best, it's obvious the seller wasn't happy with whatever the $520,000 high bid would have put in his pocket.
03-11-2017, 10:59 AM
#2299
The CGT is undervalued when we compare to the 911r, gt3rs 4.0 prices. Can't really compare the cars, but there was a lot of CGT built for US market and the car is tough to drive making it have a high turn over rate. Imo it will be a steady rise in price from here but nothing like the huge jump it took a few years ago, back then it was way undervalued.
03-11-2017, 11:10 AM
#2300
Race Director
Silver CGT yesterday with 100 miles no sell at $700k... only cars which moved yesterday were two 911's.. nothing else seems to have reached reserv. Market is turning, this was leading indicator.
03-11-2017, 11:47 AM
#2301
Racer
Concur - this makes sense
Classic car prices have pretty much outperformed every other asset category since 2011 with over 25% annualized returns, unheard of. This has been primarily the result of tremendous liquidity in Western countries, both in terms of central bank policy at near zero rates as well as capital flight from China (cash) as a result of their crackdown on corruption... more than an estimated trillion dollars in cash found its way into Western countries and assets since 2015. Primarily into the US, Canada and the UK. That tide lifted all boats as it found its way into real estate and art and yachts and all "premium" categories including classic cars.
CGTs will always be special but we may witness less of a frenzy going forward as we expect to see both higher interest rates as well as no significant spikes in capital outflows or the price of oil.
Classic car prices have pretty much outperformed every other asset category since 2011 with over 25% annualized returns, unheard of. This has been primarily the result of tremendous liquidity in Western countries, both in terms of central bank policy at near zero rates as well as capital flight from China (cash) as a result of their crackdown on corruption... more than an estimated trillion dollars in cash found its way into Western countries and assets since 2015. Primarily into the US, Canada and the UK. That tide lifted all boats as it found its way into real estate and art and yachts and all "premium" categories including classic cars.
CGTs will always be special but we may witness less of a frenzy going forward as we expect to see both higher interest rates as well as no significant spikes in capital outflows or the price of oil.
03-11-2017, 01:42 PM
#2302
03-11-2017, 03:09 PM
#2303
The CGT did not have 100 miles; it was 900.
It wasn't Silver; it was Seal Grey.
It wasn't a no-sale at $700k; High bid was $750k (meaning buyer committed to pay $825,000).
Gooding had set some very ambitious estimates, so you need to look at the whole picture and not just whether (unrealistic) reserves were met...
03-11-2017, 03:25 PM
#2304
Burning Brakes
I don't want to be a jerk, but when posting market information, I feel it's important to be factual and accurate (especially when you post contradictory information in the same post!).
The CGT did not have 100 miles; it was 900.
It wasn't Silver; it was Seal Grey.
It wasn't a no-sale at $700k; High bid was $750k (meaning buyer committed to pay $825,000).
Gooding had set some very ambitious estimates, so you need to look at the whole picture and not just whether (unrealistic) reserves were met...
The CGT did not have 100 miles; it was 900.
It wasn't Silver; it was Seal Grey.
It wasn't a no-sale at $700k; High bid was $750k (meaning buyer committed to pay $825,000).
Gooding had set some very ambitious estimates, so you need to look at the whole picture and not just whether (unrealistic) reserves were met...
03-11-2017, 07:10 PM
#2307
Race Director
i don't remember that, it was Kaitlin Jenner's.. she/he came on stage and claimed it had only done a few track days.. which, from videos we know not to be true.. but that's ok. He claimed that the entire proceeds were going to LGBT charities, and again, if true.. that's awesome.
my apologies to the previous poster, if i posted bad info... there are a few i was going from memory on. overall, i stand behind the fact that nothing seemed to sell, very few reached reserve.. and excitement level was close to zero. if I was off on 100 vs 900 mileage on that car, and the wrong color name.. oops. point stands doesn't it?
my apologies to the previous poster, if i posted bad info... there are a few i was going from memory on. overall, i stand behind the fact that nothing seemed to sell, very few reached reserve.. and excitement level was close to zero. if I was off on 100 vs 900 mileage on that car, and the wrong color name.. oops. point stands doesn't it?
03-11-2017, 08:07 PM
#2308
The gold 365 GT 2+2 pictured was mine until Christmas 2016. Sold to a dealer who then consigned it at Gooding Amelia. In a contracting market, he broke even I hope. Wonderful car, but sold it and my 997.1 RS in preparation for my incoming '17 Ford GT.
03-11-2017, 09:37 PM
#2309
Rennlist Member
