911 2.7rs Rep at Coys

[brembo]

Rang Coys, £77,000 + commission.

Probably turn up on dealers website for 100k+.

[Lightweight_911]

I don't understand these auctions!
Does that mean Coys get two bites at the cherry with no outlay? If so, that's obscene!

That's how the auction houses make their money - the commission rates are known 'up front' so there should be no nasty surprises for either the seller or the buyer.

[hot66]

My feeling watching the auction (and I didn't stay for all the lots) was most things were going around or below the lower figure on the reserve.
Another industry expert said Porsche sales are slow at the moment. There was a very nice looking 912/6 that went for £24k. Seemed a lovely buy to me. The green hot rod didn't meet reserve. Or the one owner 914.

Non-Porsche but the auction at Carfest the weekend before seemed quite slow too. Pistonheads seems to be full of doom mongers saying the bubble has burst.

Who knows... or cares!

doom mongerers are the same ones bleeting on about it time & time again but also the ones that can't afford to buy what they think they should be able to

I want a Fezza 250 GTO and a country estate .. it's not going to happen so tough shite, not going to moan about it and slag off those who can afford to at today's prices

Time to get out of that yellow car James .

one day, maybe

LandRover has just sold,
Going to sell the CSL within the next 6 months too
quite fancy another Porker but a cab or a targa

[theorangeperil]

you're right James they are killing it over on pistonheads now... get out quick!

RM Sothebys auction currently ongoing at https://www.youtube.com/watch?v=d7B2Oc8yiFI if you feel like watching a bubble burst. biggrin

http://www.rmsothebys.com/lf15/london/lots/1965-po...

911 '65 race car estimate £65,000 - £85,000 sold for £50,000

http://www.rmsothebys.com/lf15/london/lots/1991-fe...

Testarossa with 400 kilometers estimate £160,000 - £190,000 sold for £135,000

http://www.rmsothebys.com/lf15/london/lots/1987-ac...

Cobra estimate £120,000 - £140,000 sold for £55,000

http://www.rmsothebys.com/lf15/london/lots/1965-la...

Lancia Flavia Sport £45,000 - £55,000 sold for £30,000

http://www.rmsothebys.com/lf15/london/lots/2006-po...

Carrera GT estimate £475,000 - £550,000 sold for £400,000

http://www.rmsothebys.com/lf15/london/lots/1989-po...

911 Speedster estimate £180,000 - £220,000 sold for £155,000


Lots #125 (CGT), #142 (356 A Carrera), #145 ('73 911 2.7 Touring), #159 (993 Turbo S) will be interesting.

[964RS]

Even allowing for the fee, that looks cheap to me... Buyer did well, assuming sale goes through...

Yeah but you would say that....

[964RS]

My feeling watching the auction (and I didn't stay for all the lots) was most things were going around or below the lower figure on the reserve.

That's presuming things ACTUALLY sold and that there were ACTUAL bids to those levels even.

Auctioneers seem happy to 'phantom bid' a car up to near it's reserve price, even pretending there are a couple of bidders in the room doing so (that if you watch the auctions you can never see) in order to see if someone then comes in and actually bids at Reserve. I think they are within their rights to do so and I've watched it happen...

It's why I'd never buy at auction....and also that the mass majority of stuff for sale there is dross.

Coys also marked the one car I ever sold via an auction with them as Sold on their site at a much higher price than was actual.

It's no surprise to me stuff isn't selling. How many 'nice' cars for sale do you ever see these days.....?

Additionally one thing is for certain from this weekend....

PORSCHES ARE NOT RARE.....THERE WAS BLOODY HUNDREDS AND HUNDREDS OF THEM!

[hot66]

Think half these 'new to classic cars ' buyers assume all cars are equal ,shopping for one as if you walked into an OPC and that if a car doesn't sell the market must be crap ... Nothing to do with the fact the car could be a steaming pile of shite and anyone with an ounce of knowledge wouldn't touch it

When was I was looking for a 964, most UK cars for sale were turds ... Even the respected JZM had a high priced 964 that had badly peeling paint .... But of course all £40k 964's must be the same quality so PH can discuss market values

[23e Heure]

Even allowing for the fee, that looks cheap to me... Buyer did well, assuming sale goes through...

Yeah but you would say that....

Fair comment

That said, I still think that if you look at the current values of real RS, and compare to the sales price achieved by a car like this, then well executed RS reps represent amazing value...

...Or does my argument simply highlight what poor value a real RS is, compared to what you can get for 1/5th of the price?

[Lightweight_911]

I think if it was based on a '73 shell the price would be a lot higher ...

[964RS]

Reps don't really align with originals in any way. They are valued on the quality of the car itself, demand etc etc. Colour probably has more impact pricewise on a rep than a real RS's value if you are not building your own and buying someone else's.

This RS rep was not presented great when I looked at it. Was scruffy inside and so if being bought by someone who didn't know the car or how it drove and went only on appearances on the day then I doubt it would have got people hugely excited (if there were people bidding on it).

[manipou]

Auctions have always been hit and miss, if two people want your car then you'll sell well, if no one likes your car then it won’t sell.

I sold an Aston Martin at the Silverstone Salon Prive sale on Friday and it sold above top estimate. The problem with estimates is that they are based on what the seller wants for the car. If the reserve is £50K then no point having an estimate of £20K-£25K. That’s why estimates can seem all over the place for similar cars. All these doom mongers forget that high estimates and lower sale prices doesn’t get away from the fact that most selling prices are still up on last year.

Unfortunately many finance/economy experts do not believe that the bubble will burst, because the make-up of the bubble is infinitely different to the early 90’s crash. A good friend, who seems to have a job in the city where he just prints himself money, was trying to tell me what the differences are. He said that there are many more factors that drive the market than in 1990, but the main one being the market for classic cars is much much bigger than 25 years ago, the number of classic cars is not getting any bigger. All seems obvious but then he told me the numbers…

The emerging markets middle classes are infinitely bigger and growing exponentially. An example given to me, In 1995 China had an official middle class of near to Zero (defined as households with disposable incomes of $25,000 or more). By 2005 the middle class was 87 million. By 2016 the number will be 340 million. That is a bunch of people, over 5 times the size of the entire UK population, that have disposable incomes, many of which are buying western assets.

There a dozens of smaller economies that mirror these population increases, with India top of the list, middle class set to grow more than any other county over the next 10 years, estimated 267 million people in 5 years and 547 million in 10 years! They are next to be buying up these cars… He then started talking about Russian money and I zoned out a bit, the numbers are just too big to comprehend. So basically I was told the factors into the price rises are here to stay and will only increase further…

[Bruce M]

Got to wonder where the money magically appears from, that these new Middle Classes now want to dispose of

[210bhp]

Got to wonder where the money magically appears from, that these new Middle Classes now want to dispose of

You and me, and millions like us.......


Regards
Mike

[Superlight7]

I think if it was based on a '73 shell the price would be a lot higher ...

Why would a 73 shell make it more expensive, at the end of the day a rep is a rep is a copy.

I'm likely wrong and sure there will be a que of experts to tell me but were some early RS.s not built on 72 shells.

[manipou]

Back to the point, don't shoot me down in flames… but I have just spoken to someone who went to this sale to buy this car, but wasn’t happy with the engine number stamping, so he didn’t have a bid. He’s owned 2 original 73 rs’s as well as many other Porsches and knows his stuff.

Just what he told me, some of you have seen the engine number, I haven’t so don’t shoot the messenger!

Can those that know this car confirm that the engine number stamping is genuine?