This summer, RM Sotheby’s, Bonham’s, and Gooding & Company hosted online auctions in place of their usually scheduled Monterey events. Topping the list of cars sold at these auctions are a 2001 Ferrari V12 berlinetta that sold for $4.29 million at RM and a 1966 Ferrari 275 GTB “long nose,” which sold for $3.08m at Gooding & Co.
There’s an ongoing opportunity for CPAs to educate clients regarding car financing alternatives, and in the process, to strengthen their professional (and sometimes personal) relationships with them. In this Daily CPA article, our Southeast Region Sales Manager, Chris Warren, provides the details on what accountants need to know.
Premier has partnered with Karma Automotive — a Southern California-based luxury electric vehicle manufacturer and developer of advanced technologies for the automotive industry. This partnership will provide automotive enthusiasts with a new leasing program designed to deliver a cost-effective ownership experience for Karma’s Revero GT in the United States.
Following the close of bidding for Gooding & Company’s first Geared Online auction (Aug. 3-7), a very rare Porsche factory rally model, a 1971 911 ST, remained available. It has an asking price of $775,000, (the pre-sale estimate was $950k-$1.25m.) This 911 is one of five built for the African Safari Rally, one of the world’s most difficult races.
Without Monterey Car Week to anchor August and usher the automotive hobby toward fall, the Petersen Automotive Museum stepped up to take the action online. Petersen Car Week Presented by Michelin will run August 12-16, bringing worldwide YouTube viewers a stream of video content. The includes the Petersen Concours d’ Elegance, car shows, auctions and eight vehicle debuts.
According to Sales Manager Chris Warren, there’s lots of great cars you could buy for $1 million. Chris’ choice is a 1969 Lamborghini Miura P400S. That car caused a sensation when it was first introduced in 1965, and only 700 Miuras were ever built. This is the car that’s credited with putting Lamborghini on the map, which was quite an accomplishment, given that the company was only three years old.
The first 1965 Shelby GT350R, a star-studded racing steed with a trophy case of documented history, sold for $3.85m at Mecum’s Indy sale this month. This is just 7 months after the “Bullitt” Mustang movie car sold for a $3.75m, breaking that record. The $3.8m GT350R was one of 36 such cars built for the track. Other GT350R models are hardly cheap dates, with selling prices around the $1m mark.
Spanning August 12th-14th, Bonhams annual Quail Lodge Auctions will be held online. They will be part of Petersen Museum’s Online Car Week, welcome set of car events including a Concours d’Elegance finale on August 16.
Premier CEO Mitch Katz was one of four respected authorities featured in Sports Car Market magazine’s current roundtable discussion regarding COVID’s impact on blue-chip collectibles. According to Mitch, there are no “safe bets” when it comes to predicting the future value of any car. Read what else Mitch has to say in this interview.