A 2006 Red/white stripes, all four option car with less than 10 miles sold for $137,500 at Russo and Steele. (+10% buyers premium)........still, a pretty good deal! Prices falling?:confused
2006 sold at Russo & Steele
- Thread starter azferrari
- Start date
Yes, been watching prices and although Heritage models still get a premium, e-bay and consignment sellers are getting $130-155K, many in the $139K range depending on mileage. rather dissappointing but maybe predictable with current economy. Hope things improve.
B O N Y
MODERATOR & FGT OWNER
I agree with DBK.
At the auctions, I bumped into a friend, who sells many FGT's and but is not a forum sponsor, and we discussed the sale. At Russo the buyer and seller each pay 10% so calculate the expense from that standpoint. Take 10% off the hammer, subtract the cost to transport the car to the auction, and subtract your hotel bills and meal costs and you then have the next cost to the seller. You can see the seller came out smelling worse than if he had sent the night in a Phuket bordello.
The car did not meet reserve, then the seller lifted the reserve. Had he not done that he could have simply paid the consignment fee and resold the car at a later date.
My friend told him what he would be willing to pay for the car had it been offered before it went to auction.
Sellers get wrapped up in the frenzy, just as buyers do.
At the auctions, I bumped into a friend, who sells many FGT's and but is not a forum sponsor, and we discussed the sale. At Russo the buyer and seller each pay 10% so calculate the expense from that standpoint. Take 10% off the hammer, subtract the cost to transport the car to the auction, and subtract your hotel bills and meal costs and you then have the next cost to the seller. You can see the seller came out smelling worse than if he had sent the night in a Phuket bordello.
The car did not meet reserve, then the seller lifted the reserve. Had he not done that he could have simply paid the consignment fee and resold the car at a later date.
My friend told him what he would be willing to pay for the car had it been offered before it went to auction.
Sellers get wrapped up in the frenzy, just as buyers do.
B O N Y
MODERATOR & FGT OWNER
Where did all my posts go? Oh well, I still think this car sold crazy cheap for a delivery mile car. Someone got a very fair buy
I deleted all of them because talking about what a car sold for at auction shouldn't lead to a dissection of how much money you make on each car. That's why I hate these threads.
What IS crazy cheap is the seller probably netting LESS than $125K after entry fee, transport, auction sale fee etc. I don't think $150K is crazy cheap on the buyer's part, but it is decent.
timcantwell
Le Mans 2010 Sponsor * Moderator
skyrex
FORD GT OWNER
Thank you for your post. First I love your opinion and second it gave me the :biggrin!!!
:cheers
On the block.
Tim,
From your analysis it looks (to me) like an auction is a great place to sell your Sh*^!!! :biggrin
Chip
Tim,
From your analysis it looks (to me) like an auction is a great place to sell your Sh*^!!! :biggrin
Chip
BlackICE
GT Owner
Auctions houses are like casinos in Vegas. Buyers, or sellers, some win, some lose, but the house always wins!
It's great to think your car is worth 175, maybe 200. But when you try to sell it you find there aren't many buyers and you are way off base. There aren't many people trying to sell here, but over on the Viper board they are complaining loudly.
a bit OT...
Any idea if this sold above the owners reserve? The info isn't available on Russo's site
B O N Y
MODERATOR & FGT OWNER
No clue Nathan, I had to leave Saturday morning, what Russo has been doing for the no sales, is posting the high bid and then the reserve on a sign in the window with the hopes of making a post block sale. There where two Vectors for sale, B-J had a purple people eater on the block. Check their web sites to see if they where sold.
B O N Y
MODERATOR & FGT OWNER
The market is, what it is, an auction needs two bidders that want a specific lot, if they have it, they will find a meeting point. When you have five similar lots and few committed bidders, clearly there will be loosers.
Examples such as last year Monterey auctions with 5 GTB275 and 5+ GTB365's come to mind,,,,
M12's are very different from the W8's in a value perspective, or at least a materials/ build perspective. They were essentially built by two different companies entirely. Some people are Vector lovers of anything Vector, and others are particular to the V8 TT Vector's only. I fit in that group. Vector M12's have been trading hands for around 110-130 through most of 2008, while the W8's have been around 220-260.
According to BJ, the purple M12 sold for 94 + Buyers premium, so hovering around the lower end of sales, but not an outlier.