Comments on: Monterey Auction Results – RM Auctions http://www.sportscardigest.com/monterey-auction-results-%e2%80%93-rm-auctions/ Sports Car Digest focuses on Classic Car Auctions, Concours d’Elegance, Vintage Car Racing, Road Rallies and other historic automotive events. Sun, 12 Feb 2012 10:19:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sports Car Digesthttp://www.sportscardigest.com/monterey-auction-results-%e2%80%93-rm-auctions/#comment-996 Sports Car Digest Wed, 20 Aug 2008 20:58:54 +0000 http://www.sportscardigest.com/?p=1439#comment-996 Thanks for your comments.We were in attendance when that Ford Wagon crossed the block. Our chief historian noted some of the items you mentioned, so he too was very surprised that it breezed past its lofty estimate.With that said, there were many, many foreign buyers in the crowd, all armed with a strong currency versus the dollar. Perhaps $110k isn't what it used to be...Overall, we would say that a deeper look at the the auctions show a softening market for those cars that are not the best of the best, especially among the low-to-mid priced cars. We saw many cars sell for much less than their estimates, with many reserves dropping to facilitate a sale.Perhaps the bubble is leaking air, if not bursting.Thanks again,Sports Car Digest Thanks for your comments.

We were in attendance when that Ford Wagon crossed the block. Our chief historian noted some of the items you mentioned, so he too was very surprised that it breezed past its lofty estimate.

With that said, there were many, many foreign buyers in the crowd, all armed with a strong currency versus the dollar. Perhaps $110k isn’t what it used to be…

Overall, we would say that a deeper look at the the auctions show a softening market for those cars that are not the best of the best, especially among the low-to-mid priced cars. We saw many cars sell for much less than their estimates, with many reserves dropping to facilitate a sale.

Perhaps the bubble is leaking air, if not bursting.

Thanks again,

Sports Car Digest

]]> By: Warren Turnerhttp://www.sportscardigest.com/monterey-auction-results-%e2%80%93-rm-auctions/#comment-995 Warren Turner Wed, 20 Aug 2008 20:46:00 +0000 http://www.sportscardigest.com/?p=1439#comment-995 As both a Ferrari Owner and an Early Ford V-8 guy I was surprised at some of the prices paid for really suspect cars. One example (beat estimates which were way high for the condition) was the '46 Ford Woody Wagon, 110K for a totally incorrect car. Exterior paint wrong, wheels partly painted, wrong gauges and steering wheel and dash, used and undetailed engine (from a Mercury),and so much more.The point is, there appears to still be a lot of customers out there out there who will buy mediocre to rough cars, if a quicky paint spray is applied. And not just the more exotic cars.I think that supports the bubble proponents, but which has yet to burst. Examples like this are a better indicator than the increased prices of great and rare cars.Cheers Warren As both a Ferrari Owner and an Early Ford V-8 guy I was surprised at some of the prices paid for really suspect cars. One example (beat estimates which were way high for the condition) was the ’46 Ford Woody Wagon, 110K for a totally incorrect car. Exterior paint wrong, wheels partly painted, wrong gauges and steering wheel and dash, used and undetailed engine (from a Mercury),and so much more.

The point is, there appears to still be a lot of customers out there out there who will buy mediocre to rough cars, if a quicky paint spray is applied. And not just the more exotic cars.

I think that supports the bubble proponents, but which has yet to burst. Examples like this are a better indicator than the increased prices of great and rare cars.

Cheers
Warren

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