Star Cars Failed to Sell at Bonhams’ Scottsdale Auction
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Among the 120 lots that were offered at the Bonhams’ Scottsdale auction, several cars, whose pre-auction value was estimated considerably high, failed to stand up to the expectations. A number of classic cars were offered at the auction on January 17, 2019Star Cars Failed to Sell at Bonhams’ Scottsdale Auction
Among the 120 lots that were offered at the Bonhams’ Scottsdale auction, several cars, whose pre-auction value was estimated considerably high, failed to stand up to the expectations. A number of classic cars were offered at the auction on January 17, 2019, at the Westin Kierland Resort, in Arizona, Scottsdale. At this auction, Bonhams managed to earn $16.1 million from selling 107 of 120 lots on offer for a high 90 percent sell-through rate. The average sale price was calculated to be $144,762. One of the biggest disappointments of the action includes the 1954 Ferrari 500 Mondial, which was considered one of the major highlights of the auction. The car gained popularity after it was famously photographed with actor James Dean behind the wheel. The pre-estimated worth of this classic was expected to be between $5 million and $6 million,while bids topped out at $4 million and it clearly failed to find a home. Next in this list of failures — which couldn’t even find a home — is the fiberglass-bodied ex-Robert Redford 1964 Porsche 904 GTS that was bid to $1.2 million, against an estimate of $1.4-$1.7 million. The 1959 Lister-Jaguar sports racer that was once driven by Stirling Moss fell flat at $1.4 million, far short of its wide-ranging $2.0-$2.6 million estimate. Other cars like 1993 Bugatti EB110, 1971 Lamborghini Miura SV, and 1955 Mercedes-Benz 300SL Gullwing returned home with their consigners. While a healthy trading was seen for the cheaper cars, buyers were hesitant to go near and above a million dollar, except for exceptional cars, which is why a number of cars either failed to find owners, or were sold at a price lower to their pre-estimated value. The 1951 Maserati A6G/2000 Spider went under the hammer at $2,755,000 against an estimateof $2.8 to $3.4 million. The 1991 BMW Z1 Alpina that had run just 12,000 km was also among those cars that were sold below the expectations. This BMW Z1 Alpina was sold for $106,400, against its pre-auction estimate of $140,000-$160,000. Volume-production Ferraris showed even lesser interest as compared to the less-common BMWs, for instance, a 1988 Ferrari Testarossa was sold for $86,800 against a $100,000-$125,000 estimate, and the 1987 Ferrari 328 GTB managed just $95,200, against the high estimate of$140,000-$180,000.https://www.blouinartinfo.com/ Founder: Louise Blouin Read more