Coys London Auction Dec 08

[klv]

Some notes from the Coys auction in London last night:
These are the hammer prices for F cars
308GTSi - sold 16,900 pounds.
OK car, clean but not immaculate - underbonnet needs detailing & some work, least desireable spec of 308s.

246GT (03478) - sold 60,000 pounds
Only 33k miles approx, and quite a bit of money spent recently, but interior looked 'used' reasonable price for a driver I guess

365GTB/4 (13791 GT) - no sale @ 130,000
Nicely presented car, needs some work/detailing under the bonnet/hood, but looked good in blue. Long way off owner's hopes I suspect...


365GTC/4 (16139) - sold 47,000 pounds
Stored for a long time. Met brown/bronze with tan trim. Presented quite well, but potentially a headache to bring back to regular use. One of those cars that could either reward you after some minor titivation, or send you mad & broke!

250 GTE "California Spider" recreation (4749GT). sold 220,000 pounds. Top sale of the night very well done recreation, if you like that sort of thing...

'91 Testarossa - not sold 30,000 pounds
Well presented 1 owner car. probably all of it's money in the current market. Should have taken the money if he needed it!

250 GT PF Coupe (1957GT)- no sale 120,000 pounds
Nice later car with covered headlights. Not perfect, but well presented. No estimate in catalogue ('refer dept') so no clue as to reserve.

412i - sold 19,000 pounds
Last lot of the night. One owner car, with FSH etc. red not it's best colour, and looking under the bonnet/hood will scare off most people with the amount of stuff under there! Still, well sold as these don't usually make this level, even though they are nice drivers.

Other high prices:
Muira P400 to 'S" Specification (3645) - sold @ 205,000 pounds. Looked lovely in blue too. Headlight fit was a bit odd, but rest of it looked nice
XJ220 - LHD in 'Silverstone Green' low miles etc - no sale 113,500 pounds
Rolls Royce Phantom II Short Chassis Continental 3 pos Gurney Nutting Sedanca. no sale 240,000 pounds (highest bid of the night) - Gorgeous car
911 Carrera RS (changed motor, but still RS engine) - sold 91,000 pounds
Alfa TZ1 - no sale 175,000 pounds. Wish I had the money...
Alloy XK120 - beautifully done, better than new - sold 108,000 pounds.

That's your lot for tonight! These are just hammer prices, commission etc to be added on. Comments all my own work!

A few pics available her for you to spot things on the 250PF!
http://picasaweb.google.com/bootie.boot/Coys1208Auction#

Cheers

Andrew S.

[klv]

Note, the boxes of spare parts are Alfa 8C bits that all sold without reserve, some at very cheap prices too! It was tempting to bid for a few 'souveniers'. You never know when you might need a twisted Alfa 8C halfshaft and at only 10 pounds it would have been a snip!

[Dr. Ian Levy]

Hello Andrew
Thanks for your quick report about Coys I wanted to be there but just could not make it.I was intending looking at the 246 & as you say, the hammer price was reasonable but like other prices, a reflection of the economic climate.
I am,hoever,quite pleased with how much the GTC 4 reached as I think I am now sitting on a fair investment
Do you know how much the buyers premium is as this is usually quite a chunk of money?
Thanks again
Regards
Ian L

[Dr. Ian Levy]

Hello all
Buyers premium is 15% on first £30k & then 10% over that with the premium subject to 17.5% VAT. Quite a chunk on a £50k buy that amounts to £6500 +£1137.50 VAT adding over £7.5k to the purchase price.& not bad for the Auction House which is receiving big payments from both seller & buyer.
On a £50,000 sale example above buyer pays £57600 & seller receives £44250 less an up front Catalogue fee of £350 i.e £43,900
Must be better business to sell direct??
Regards
Ian L

[klv]

Hi Ian

That's the $64 when it comes to Auctions I guess. Some people don't want all the hassle of the tyre (tire?) kickers and would prefer it was handled by someone else. Been to a few auctions in the last couple of months and I'm surprised at some of the cars consigned (i.e low value/average condition) and that the auction houses accept them too. I guess in some cases the cars are entered 2-3 months before the auction, if not longer, and a lot of things can happen in that time. Just look at how values & the economy have changed and that not enough owners have accepted the lower prices on their reserves as yet. Off to another one tomorrow so we'll see what happens there!

Andrew