Race Retro lots

[speedingfine]

https://www.silverstoneauctions.com/rac ... 2023-01-17

[mik]

That GTv6 looks interesting.

15% buyers premium

[Sundayjumper]

15% buyers premium

Only on the first £300k, it drops to 12% for the remainder.

[jamcg]

Imsa firebird for me on looks alone please

[mik]

15% buyers premium

Only on the first £300k, it drops to 12% for the remainder.

Good point. I may have too hastily considered them greedy bastards in my head.

[Ascender]

Those 70s and 80s ones are so evocative of the eras and why I loved watching rallying. Just something about the stance and liveries - the Renault 5 GT, Opel Manta and the Capri.

[speedingfine]

The Elans

[speedingfine]

[mik]

@speedingfine Whaaa?

[John]

Crazy.

[mik]

@speedingfine

I was interested to understand how mad that price was - found this article (from Oz but will do). clickz


"The previous record price for an RS500 Cosworth stood at £135,700 set in 2022"

So what makes this one "worth" more than 4x that figure? Presumably the 5k miles is a significant factor (which means it can never be driven again of course).

[IanF]

Hmmm.. I wonder if the buyer owns the other one (whose value has probably just doubled at least) as well.

Plus if that person also has two other chassis, then can probably split the components from one car into two, cheaply manu the remaining parts and sell 4 from 2, making a healthy profit..

[mik]

@IanF Cosspiracy theories.....

It's just occured to me that nobody has mentioned Silverstone Auction fees.

If the above £596,250 is the hammer price (I assume it is - why would Silverstone publish the number with fees?) then they creamed a smidge over £82k in commission for this one sale , leaving the buyer to fork out £678,300.

(If my assumption is wrong - unlikely - then the buyer paid £592,250 including commission, and the seller "only" received around £523,000).

And no the car can never be driven again, but apparently it's only done 20 miles since 2006 anyway (as stated by someone who looked at the MOT history - I didn't bother to check this).

[Sundayjumper]

If the above £596,250 is the hammer price (I assume it is - why would Silverstone publish the number with fees?)

I don't know if it's standard practice across the board, but I know other auction house results I've looked at included fees. In those cases it was obvious as the published number was an unnatural multiple but subtracting fees took it back to a nice round number. Here - less clear.

[Sundayjumper]

So what makes this one "worth" more than 4x that figure?

A very large amount of Russian money needing to be laundered atm ? And some of it happened to intersect with two massive Ford fanbois.

[Sundayjumper]

Ah ! If I misread the fees calc, and if the published number doesn't include the VAT then:

£530k + 12.5% = £596,250.

(or maybe the published number forgot to include the "discount" on the portion over £300k)

[mik]

My numbers were 15% fee on the first £350k (cos I didn’t read properly that it was the first £300k) and 12% on the rest.

[Jimexpl]

I can't imagine that price will ever be bettered uness a delivery mileage car comes to auction.
What's the age of the typical Sierra Cosworth fan with the means to buy a car like that? 60? 70? The target audience won't be buying cars for much longer, even as trinkets to keep in the garage.
It's difficult to understand the mindset of some purchasers - I'd want something that looked good in the garage if I was never going to drive it, and if I was a rally nut, surely a competition car would be more enjoyable to look at?

[integrale_evo]

Yep, proper race cars with pedigree go for less, and as they’ve been used properly in the past you could probably stick some new tyres on a spare set of wheels and do a trackday or two without destroying its value. It’s just an insane amount of money.

[scotta]

Yep, proper race cars with pedigree go for less, and as they’ve been used properly in the past you could probably stick some new tyres on a spare set of wheels and do a trackday or two without destroying its value. It’s just an insane amount of money.

Or you could race it at historic events and add to its value.