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Feb 08, 2015 5:19 pm
Feb 08, 2015 5:19 pm
Subject: Re: Upcoming Artcurial Auction Of A Weatherbeaten Hoard
This auction was truely amazing. I watched the live stream on the internet. Instead of one auctioneer they had two speaking at the same time so creating more hectic and the feeling that the buyer has to rush. The asking price of one auctioneer was not always the same as the others..and they had good publicity before the auction: Lost treasures, found in a Chateau, Alain Delon...You never could sell such a rusty car found in your backyard for more than their estimate prices, but they managed to sell them at multiple of the estimate. Is it all the central banks money printing that people buy whatever they can get just to convert paper into something real?
I wonder who bought all these extreme project cars. For many cars I can not imagine that restoration is economical if you give it to professionals in Europe or US. May be in Russia? Or are there so many freshly retired around seeking a big project? Or were they bought as artwork rather than a restoration project?
When you check for some cars on the internet you can get a restored one at only a little higher price: best example a Citroen 5CV trefle sold for 23.8k EUR
The rotten Lagonda LG45 DHC sold for 97k EUR. http://www.artcurial.com/en/asp/fullCatalogue.asp?salelot=2651++++++36+&refno=10514412
A professional restoration of the Lagonda LG45, what will it cost 200k EUR ? Here is an example of a nice one that sold in summer 2014 for 117k GBP http://www.classic-auctions.com/...headCoupe-37843.aspx
The Maserati A6G Berlinetta sold for 2Mio EUR http://www.artcurial.com/en/asp/fullCatalogue.asp?salelot=2651++++++58+&refno=10514400
A perfectly restored one sold in 2013 for 1.6Mio USD http://www.goodingco.com/vehicle/1955-maserati-a6g54-berlinetta/
May be the Saoutchik Talbot Lago T26 SWB even that it sold at 1.7 Mio EUR may make sense economically. Let the restoration cost 500k. But such a car will win at Pepple Beach or similar and may sell for 3-5 Mio afterwards.
I really would like to know who all the buyers were
This auction was truely amazing. I watched the live stream on the internet. Instead of one auctioneer they had two speaking at the same time so creating more hectic and the feeling that the buyer has to rush. The asking price of one auctioneer was not always the same as the others..and they had good publicity before the auction: Lost treasures, found in a Chateau, Alain Delon...You never could sell such a rusty car found in your backyard for more than their estimate prices, but they managed to sell them at multiple of the estimate. Is it all the central banks money printing that people buy whatever they can get just to convert paper into something real?
I wonder who bought all these extreme project cars. For many cars I can not imagine that restoration is economical if you give it to professionals in Europe or US. May be in Russia? Or are there so many freshly retired around seeking a big project? Or were they bought as artwork rather than a restoration project?
When you check for some cars on the internet you can get a restored one at only a little higher price: best example a Citroen 5CV trefle sold for 23.8k EUR
The rotten Lagonda LG45 DHC sold for 97k EUR. http://www.artcurial.com/en/asp/fullCatalogue.asp?salelot=2651++++++36+&refno=10514412
A professional restoration of the Lagonda LG45, what will it cost 200k EUR ? Here is an example of a nice one that sold in summer 2014 for 117k GBP http://www.classic-auctions.com/...headCoupe-37843.aspx
The Maserati A6G Berlinetta sold for 2Mio EUR http://www.artcurial.com/en/asp/fullCatalogue.asp?salelot=2651++++++58+&refno=10514400
A perfectly restored one sold in 2013 for 1.6Mio USD http://www.goodingco.com/vehicle/1955-maserati-a6g54-berlinetta/
May be the Saoutchik Talbot Lago T26 SWB even that it sold at 1.7 Mio EUR may make sense economically. Let the restoration cost 500k. But such a car will win at Pepple Beach or similar and may sell for 3-5 Mio afterwards.
I really would like to know who all the buyers were