Drastic drop in value for the super classics?
02/27/2021
Didn't a Porsche 930 Turbo cost just EUR 200,000 and a Ferrari 330 GTC well over half a million? Anyone looking at the vehicles registered for the RM/Sotheby's "Open Roads" auction (from February 19 to 28, 2021), which is still ongoing, may have asked themselves this question.
And indeed, there was a Ferrari 330 GTC from 1968, which was estimated at EUR 340,000 to 380,000. And chassis 11395 looked quite attractive in the pictures and in the description, despite the atypical red paintwork.
However, if you take a look at auction results from the last 10 years, you will see that the current estimate is quite in line with the last results, while around 2014/2015 twice or three times as much was paid for a GTC. Of course, the price achieved also depends heavily on the history and condition. In any case, with a top bid of EUR 345,000, the Ferrari 330 GTC with chassis number 11395 got out of the affair without losing face. But yes, six years ago it might have fetched 20 to 50 % more.
RM/Sotheby's also had a Porsche 911 Turbo on offer, a 3.3-liter model in black with a black interior and sunroof, a configuration that was sure to generate interest. The car was estimated at a humane EUR 60,000 to 80,000 and a look at the Zwischengas auction database shows that the G-Turbo models were in many cases under 100,000 and prices have fallen somewhat recently, albeit less sharply than those of the 330 GTC.
In the end, the highest bid entered online was EUR 77,000, interestingly at the upper end of the estimate range. Perhaps it was the color combination after all?
To return to the question posed at the beginning, it has to be said that memory sometimes plays tricks on us. The two vehicles described achieved quite robust prices and the estimated values correspond to today's market conditions, which are certainly below the 2014/2015 peak prices, but still came in at a solid level. There were cheaper examples back then too ...
P.S. We will of course publish the complete results of the RM/Sotheby's Open Roads auction soon ...
