The reserve did not meet … – the big picture

Stream periods are always great. If you look in the right places, you can find evidence that the trend is giving way, often before it is reflected in feelings.

for example: Collectible car sales.

On Fridays, I usually dive deep into an interesting vehicle. Some are new electric cars, some are old classics, and some are just fast, fun machines. This process allows me to learn a little bit about a particular vehicle. Inspiration often comes from various auction sites. I “star” interesting cars, and when the auction ends, the results are emailed.

This week I decided to combine my usual car post on Friday with recent discussions about inflation and ambitious home pricing. The reason was the unusual number of auctions where the reserve price was not met and the vehicle failed to sell. “RNM” could be some confirmation bias on my part, or wishful thinking that some of my favorite things might become affordable (aka affordable).

Or perhaps this indicates the high prices of cars.

These are anecdotes, but if you really want to go down the used car data analysis hole, check out the depreciation videos by Fourwheel Trader. Year, mileage, engine, transmission, options, and even color play a major role in determining a vehicle’s selling price. Sometimes the market gets ahead of itself so much that sellers lose sanity at the minimum asking prices.

Let’s look at some recent examples of cars I’ve been tracking that failed to auction off as RNM:

2020 Lamborghini Huracan EVO RWD SpyderBid on $281,500

The Huracan Spyder received minor updates in 2020, including an increase of up to 602 horsepower (going to the rear wheels on this car). New, cost $293,473 – but the caveat is that there is limited sales data for these. A few Spyders RWD are listed for sale, ranging from $279K to $327K asking price.

Maybe the Cryptocurrency/Lambo Crowd Fades As Bitcoin Drops? Or is it simply that Lamborghini cars are less collectible than Ferraris? Regardless, this

2019 Ford GT Carbon Series: Bid price $1,075,000.

BAT displays the range of past sales for each vehicle, and this was the center of the range. The Carbon Series probably warrants higher prices, and with just 500 miles, it’s practically new. Maybe the combination of fonts/colors…

1966 Chevrolet Corvette Convertible 427 4-speed. Bid up to $100,000.

The 427’s big, 4-speed engine is desirable, but it didn’t say anything about matching numbers, so that takes a little over the top. Also, the C2 Vette is one of the few cars where the coupe is sometimes more valuable than the convertible, given how amazingly cool it is. (I’m biased)

2006 Ferrari F430 Spider 6-speed: Bid up to $288,000

The price of the F430 has been going up for a while, but the brochures are becoming ballistic. A friend chose the F1 version, I’ve seen a lot of 430s looked at them in the $150K to $190K range. But the six-speed was regularly going for so much more—you can see half a dozen sold for $300,000 to $400,000 or higher. My guess is that these guys are past the 430 market, and the prices will go down…

Euro 2000 BMW Z8 Bidding on $176,000.

One of my favorite cars, and this was a decent price a couple of years ago. Prices have run away, especially Alpina (meh) and more of my favorite color combinations, like Black/Crema, or my favorite color combination of these, Topaz Blue/Crema Nappa (No, really) I’ll just need to be patient to wait for those prices to come back down to earth .

1965 Porsche 356C Cabriolet: Bid up to 145 thousand dollars.

What a charming little ride, fun to drive and easy to maintain. The price range on them is all over the map, as is the recurring RNM rate for them (see the white circles here).

2020 Mercedes-AMG G63: Bid on $176,000.

Not my favorite truck, but there is a definite market for it among Russian oligarchs and people who own second homes in the Hamptons alike. The new MSRP was $173,345, and while you can find these products listed for sales at $200, they’re either over-adjusted or just plain ambitious.

~~~

This is not to say that the cars are not selling, but a noticeable increase in RNM caught my eye.

Other cars are sold at what I consider market prices, and I think these prices below were reasonably reserved:

2008 Porsche 911 Turbo Coupe 6-Speed ​​Sold for $99,000. This 997.1 has been rated, especially since the Turbo Guide ended in 2013.

The 2014 Audi R8 V10 Spyder 6-speed car was sold for $157,000. All Marbats: big engine, gated transmission, soft top cover. Biggest bang for 157 kilos.

2017 Lamborghini Huracan LP580-2 Coupe sold for $229,000. I keep hearing rumors that Lambo sales are driven by cryptocurrencies…

2015 Ferrari F12 Berlinetta sold for $270,000. I would have paid a higher amount but within the range. I’m upset because I missed this color set/price a few months ago.

2007 Ferrari 599 GTB Fiorano sold for $166,000.

The 2005 Ford GT sold for $420,000, and the 2006 Ford GT Heritage version sold for $669,000. These have very high demand, and very little production.

1970 – Plymouth Superbird 440 + 6 sold for $238,000. Extremely rare, with few sales having a lot of conviction, but that’s the middle of a price prediction.

They are priced higher than 2019 but within a reasonable range compared to other recent sales.

I remember seeing a similar phenomenon in single-family homes in 2006; Market changes take time to penetrate the psyche / wishful thinking of sellers,

Time will tell if that’s really the “peak” car price – I suspect we are – but we find out soon enough.

previously:
Ambitious Pricing (25 May 2022)

Transit takes longer than expected (Feb 10, 2022)

Friendly Print, PDF and Email

Leave a Comment