Laguna Seca and Bonhams
Laguna and Bonhams
This year, there was a scheduling conflict for me. In years past the general consensus was to attend Concorso/Quail on Friday, Laguna Seca on Saturday, and Pebble Beach on Sunday. Some track enthusiasts stayed at the track all week and never stepped on a golf course for a car show, and some Pebble Beach attendees found a schedule that barely allowed time for anything else, but many of us who wanted a taste of everything, followed this three day schedule. This year, Concorso made a bold move and scheduled their show for Saturday. For attendees of the Quail Show, they could now attend both shows without a scheduling conflict, but what to do with the track events at Laguna Seca? Since I wanted to attend Concorso on Saturday, I decided to head to the track early in the morning on Friday before I had to head into town for the Bonhams Auction. I arrived so early many of the cars were still covered up! I left by noon, but at least I got my sensory fill of the smell of burnt race gas and the sound of engines driven in anger!
The big deal during the Monterey weekend for me was bringing Mark Dempsey’s 365 GT 2+2 to auction at Bonhams. Mark owned this car for nearly 10 years, logged many miles, and improved the car to its current level. The latest achievement was its second Platinum at a national level show back in January of this year at the Cavallino Classic in Florida. After the show Mark and I discussed what to do with the car considering the rising prices of Vintage Ferraris. I am always first to advise anyone who owns a Vintage Ferrari to try and keep it if they don’t need the money, but I struggle with this dilemma every day with the ownership of my 330 America. After much discussion, we decided it was time to sell and pass on this great car to the next owner. I worked diligently with placing this car with right auction house, negotiating a deal that was good for everyone, and bringing the car to Bonhams. We set an auction estimate at $200-$250K and put the wheels in motion. I have to admit, we consigned our car to Bonhams well before they announced they were also auctioning a GTO the same weekend, but it certainly didn’t hurt to glean some of the publicity!
I spent two days representing the car and was happy to tell any potential bidder all they needed to know to give them the confidence they were bidding on a good car. There was definitely a lot of positive response, but with auctions, you never know. Mark was a wreck during the whole process. There were so many mixed emotions for both of us, but if Mark had a chance to change his mind before the auction, he would have driven the car home!
Bidding was brisk, and it didn’t take long for our reserve was met, and the high estimate of $250,000 was surpassed! As I took a looked around the room, there were at least three bidders competing for the car, one of them being Ferrari collector, and UK radio personality, Chris Evans! The price kept going up, $270, $280, $290, $300! Chris stopped at $320, and a father and son sitting down front came in at $325,000…SOLD! I was stunned, happy, and vindicated Mark and I made all the right choices with a very nice 365GT 2+2. As we were congratulated by everyone, Marcel Massini said, “it just proves, people will pay good money for exceptional cars!”
Through all the excitement, I caught up with the new owners and gave them my contact information, and I hope they follow through and reach out to us. Mark and I would like to wish them a great time with his old car, and hope they have as much fun as we did!
Reminder: If you have a Ferrari related project, car, or idea you’d like to explore, I’d love to talk to you. I can also help if you’re thinking of buying or selling. This website represents what I love to do, and now it’s how I make a living, so if you’d like to do something together, let me know. It all begins with an e-mail!
Previous Restoration Day
Next Restoration Day