I know that everyone will be curious to see the results of last Thursday’s Sotheby’s Arizona 2024 auction (as referenced here) in Scottsdale.
My big boo-hoo:
Some bastard stole my car from me. Shit. (I wonder whether I’d have bid on the beautiful thing, had I won the lottery earlier…)
See what your pick would have set you back — here are the final auction sales.
Dang! I coulda swung the American Bantam at $49,280. The rest of my list is outta my league.
My selections came in at $ 5,312,000 but more interestingly there were 21 of 84 cars that remained unsold because they did not meet their reserve. Thats not a great performance. I’m sure Sotheby’s wants to see a sell though rate in the 90’s So getting back to Kim’s original question as to whether or not the original cataloged estimated rangers were high or not, I’m still sticking with my answer that Yes, they were somewhat optimistic. by maybe 10% , It looks like a few of the sellers were just too ambitious and ahead of the market. For example the 2 GT 350’s sold for $ 170 and $220 but the GT 500 owner wanted $ 300 + and didn’t find a buyer. Then there the Dino at $ 700 which is probably $ 200 too much. So, were the were the sellers pricing too high or was Sotheby’s Auction team accepting reserves that were outside of reasonableness just to fill the catalog?
We have wait and see what happens at the much more retail and higher volume Barrett Jackson event going on now.
I didn’t add up my picks but I’m sure they were around $2M for the butcher’s bill.
JQ
Holy carp! The Dino went for more ($700,000) than the Daytona ($632,200)! I’m not that old but I still remember when NOBODY wanted Dinos! That car would have gone for maybe a tenth that price 10-15 years ago!
No… the Dino DIDN’T sell. The seller is still asking $ 700K
That’s what the listings that say asking rather than sold mean. That asking price is completely unrealistic and the Sotheby’s probably told him that. But some sellers need to learn the hard way. You’re right – Dinos should never sell for more than a Daytona assuming roughly equal condition barring some sort of exceptional provenance for the Dino.
As much as I love them, Dinos shouldn’t sell for more than $150k, and even that’s optimistic.