Insane car auctions

amirm

Banned
Apr 2, 2010
15,813
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Seattle, WA
Just watched these two auctions on the show Chasing Classic Cars. Ferrari 250 GTO going for over $38 million! Most expensive car at an auction although the most expensive was another GTO going for $50?


And this Steve McQueen 1967 Ferrari 275 GTB 4 for $10M


I know nothing about these cars. Still, I can't fathom this much money for a car!
 

DaveyF

Well-Known Member
Jul 31, 2010
6,129
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La Jolla, Calif USA
Amir, the two examples that you posted are fairly well known as being in the top echelon of Ferrari's. A 1954 Mercedes W196 racer sold at auction recently for $30M. Others in the past have sold for large sums as well...BTW,.the next time a Bugatti Royale comes up for sale...I would imagine it will be an eye opener! Remember to the collectors of these vehicles, $50M is chump change. How many Billionaires do we have these days?....BILLIONAIRES, LOL:eek:.
 

amirm

Banned
Apr 2, 2010
15,813
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Seattle, WA
Here is the part I don't get. They had a mid-steering Ferrari come back to the garage of the Chasing Classic Cars shop to be refurbished. It is owned by the family of the US Ferrari dealership founder and expected to auction for $15M or some such thing. They service the car and then he takes it on the road to test drive it! How does one do that? What if there is an accident? Did you just burn $15M? I don't know that I could even touch the door of that car :).

This was the car by the way (365p):



Only one was built.
 

DaveyF

Well-Known Member
Jul 31, 2010
6,129
181
458
La Jolla, Calif USA
That's a great question...the problem with owning these cars is the issue of driving them. I have it on fairly good authority that one of the BIG issues currently is the insurance company not allowing road use after a certain value is obtained. Also, the transportation gets pricey and the declaration for customs, IF they travel between countries, gets complicated.
 

DaveyF

Well-Known Member
Jul 31, 2010
6,129
181
458
La Jolla, Calif USA
Amir, many of these cars do NOT sell at auction, instead selling privately at MUCH higher prices. I happen to know of at least two cars that have sold for more than $25M--each in a private transaction. The really really rare stuff is considered so collectable, that just a little word of mouth to the "right" people is enough to secure a sale. When you own such a vehicle, the thinking is why bother paying an auctioneer their fees, a commission to the "Broker" is generally far less and the price is typically much higher!
 

Mosin

[Industry Expert]
Mar 11, 2012
895
13
930
If I had that kind of money laying around, which I don't, I could see it for a Georges Braque, maybe a Nicolas de Staël or a Camille Claudel, but for a car?

Machines are made to use. No one who creates one wants it to sit idly by. Car collections are a weird combination of homage and heresy.



However...






An irony that threatens to poke holes in my core beliefs...






We've played all the records we own, correct? :D
 

amirm

Banned
Apr 2, 2010
15,813
37
0
Seattle, WA
No doubt we seem even more crazy to other parts of the population. "You paid how much for that 'stereo?'" :)
 

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