The strange world of classic car auctions
08/20/2013
We rub our eyes in amazement. How is that possible? A Ferrari 275 GTB/4 NART Spider was auctioned for USD 25 million, a McLaren F1 for USD 7.7 million and a Mercedes Benz 190 SL for 1961 for USD 245,500 (in each case excluding bidder surcharges and fees of approx. 10%), and these are just three examples of the latest "made in USA" flights of fancy.
Where is this going to lead? Can a "normal" car even be worth 25 million? It is true that the NART Spider sold is one of only ten, but it is not a one-off and does not have a particularly illustrious history.
And 106 of the neo-classic McLaren F1 were built, 72 of which were sold as road-going sports cars. Recently, these were already expensive, but probably only traded at a fraction of the price that has now been achieved in California. And why can a McLaren F1 be so much more expensive than, for example, a Bugatti EB110, which also represented what was technically feasible at the time and was only produced in slightly larger numbers (around 128 were built)? Nevertheless, Euro 380,000 is already considered a high price for the Bugatti, just six percent of the McLaren value.
The same considerations could also be made for the Mercedes Benz 190 SL, as there were and are alternatives, which are perhaps even rarer and certainly no less attractive.
A topsy-turvy world? And where does it all lead? We'll stay tuned and bring you the detailed results of the RM Auctions and Gooding & Company auctions shortly.
