SPF 40 at BJ?

Foowowee · 01-19-08, 08:19 PM

I understand that at least one SPF 40 is going to roll thru the gates at Barrett-Jackson. Does anyone know what the lot# is or approx what time it ill go thru?

Thanks.

Mike

Jay V · 01-19-08, 08:36 PM

Barrett-Jackson website shows:
lot number 1241.1
1966 Superformance
$105,000.

Ron Earp · 01-19-08, 08:38 PM

I saw this car at Olthoff's a couple of months ago, it looked fantastic.

Steve C · 01-19-08, 08:41 PM

Mike,

Think it was lot 1241.1 Supposed to be on the block mid PM today...Seller Park Place....MK1w/Roush carbed small block (white/blue stripes ?).. If I read the BJ web correctly Sold $105? See pics in Park Place website

Steve

Pantera1889 · 01-20-08, 12:25 AM

That shit pisses me off !! Out of 1200+ cars therer is ONE GT40 and they go to commercial as it comes on the block!!! If I see one more Corvette I think I will PUKE!!!! I was waiting to see the Superformance car and as the Impala in front of it (one of a thousand that was part of the auction) was leaving the block,you could hear the GT40 start up and rev a few times. Then they flash to outside to show a '69 Shelby GT500 ( one of a thousand that was part of the auction) then they go to commercial! When they returned,guess what was on the block???? A CORVETTE!! They SUCK!!!

Cliff Beer · 01-20-08, 01:44 AM

I saw the Park Place car in person a few weeks back - stunning. Anybody know how much it sold for?? The PP salesman (Rene Bourget) is a real car guy, very knowledgable and a total straight shooter. Highly recommended if you're on the west coast and looking for a Superformance GT40.

Incidentally, Park Place is bringing a bunch of them to market - they told me they have 10 RBTs on order (so you can thank them for the hold up I guess).

Foowowee · 01-20-08, 01:45 AM

That 105k figure disappoints me. I know the black one that went thru last year sold for around 160k plus the 8% buyers premium, plus any applicable sales tax in the buyer's home state. You would think that with the transaxle scarcity, and the SPF price increase, that this car would have brought even more, especially from the drunks at BJ.
By the way, there is currently a red one on ebay that has 3,700 miles on it,
admitted track time, that has about 70 bids with a current high bid in the mid
90's. Two days left on that one.

Mike

Steve C · 01-20-08, 08:56 AM

Mike,

I don't think BJ is the right place for vintage race cars or replicas...Only things going through nowdays are muscle cars or something VERY unique...Recall one of BJ's auctions last yr with 2 REAL vintage race cars with provenance (one an Allard) that went for less than I thought should have as compared to all the Vetts ect.

The $160 SPF last yr was a "ROUSH special"...These guys at BJ think that means something I guess.

Although not my thing ..some of the customs went for much less than the labor $ vs just a restoration car....I wonder how much longer and better question how much higher the muscle cars can go?

A SPF MK11 auctioned @ Russo Steel this past Thus @8PM (lot 7404)..Roush carbed, silver with 1600 miles..I don't see results posted yet.

Steve SPF P2125

David Marx · 01-30-08, 11:42 PM

Quote:

Originally Posted by steve c

Mike,

A SPF MK11 auctioned @ Russo Steel this past Thus @8PM (lot 7404)..Roush carbed, silver with 1600 miles..I don't see results posted yet.

Steve SPF P2125

$110,000 (FYI)

Foowowee · 01-31-08, 06:16 PM

Thanks for that update.

Mike

Rich · 02-12-08, 02:55 PM

Quote:

Originally Posted by Fadiboy

$110,000 (FYI)

This Superformance MarkII GT40 actually sold at the Russo And Steele auction for $100,000, not $110,000.

I find it rather curious that R & S would inflate the actual sales price on their website.

Steve C · 02-12-08, 06:10 PM

Rich,

Was it your dad's car that sold?

Why did he sell it?

Steve

Steve C · 02-12-08, 06:14 PM

Rich,

Sorry...Got you confused with Jeff (whos' dad's car I think this was).....Sorry for confusion.

Steve

scott · 02-12-08, 11:06 PM

Quote:

Originally Posted by Moveover

This Superformance MarkII GT40 actually sold at the Russo And Steele auction for $100,000, not $110,000.

I find it rather curious that R & S would inflate the actual sales price on their website.

The gavel price was $100,000. The buyer's premium was $10,000 so the final sales price was $110,000.

The seller also pays 10% of the gavel price, or $10,000.

So, the seller only got $90K for the car, but the buyer paid $110K

Rich · 02-13-08, 02:29 AM

Quote:

Originally Posted by teak360

The gavel price was $100,000. The buyer's premium was $10,000 so the final sales price was $110,000.

The seller also pays 10% of the gavel price, or $10,000.

So, the seller only got $90K for the car, but the buyer paid $110K

The sale price was $100,000 Mr. scott. The buyer's premium is not part of the sales price. Also, your assumptions regarding the buyers premium and seller's commission cost could be wrong. The amount of the seller's commission would depend on whether or not there was a reserve on the vehicle, and in addition, if there was a reserve (which in this case there was) the seller's commission could be lowered during bidding to get the seller to drop his reserve. Likewise, the buyers preminum could be lowered during the bidding to get the buyer to bid higher. The object being to get the reserve off and the car sold.

So I doubt that you know what the seller paid or the buyer received, unless of course, they informed you.

Joey Dean · 02-13-08, 07:47 AM

Rich,

I understand what your point is. The buyer, regardless who got what part of the money, was fully aware of the premiums he would pay above and beyond the gavel price. He still coughed up $110k. In my way of looking at it, that is what the car sold for.

Larry · 02-13-08, 11:12 AM

FYI, I sold a car this year at B-J and all of the cars are "no reserve"...so every car sold with no negotiating of commissions. The terms were buyer pays a 10% buyer's premium (unless he is a phone or internet buyer who pays 12%) and the seller pays an 8% seller's premium.

Daryl Adams · 02-13-08, 11:14 AM

I would agree with Joey. According to the old saying, something is "worth" whatever someone is willing to pay for it. I this case, the buyer paid $110,000. That's what the car "cost" him. The real winner, of course, is Craig Jackson. That's why my will states that, after I'm gone, my cars are to be taken to auction only as a last resort.

scott · 02-13-08, 12:21 PM

Quote:

Originally Posted by Moveover

The sale price was $100,000 Mr. scott. The buyer's premium is not part of the sales price. Also, your assumptions regarding the buyers premium and seller's commission cost could be wrong. The amount of the seller's commission would depend on whether or not there was a reserve on the vehicle, and in addition, if there was a reserve (which in this case there was) the seller's commission could be lowered during bidding to get the seller to drop his reserve. Likewise, the buyers preminum could be lowered during the bidding to get the buyer to bid higher. The object being to get the reserve off and the car sold.

So I doubt that you know what the seller paid or the buyer received, unless of course, they informed you.

The reason the car is shown as sold at $110,000 on the Russo and Steele website is because that is what the buyer paid. If you were there at the auction you saw the car go across the block at $100,000. The buyer pays $100,000 plus a 10% premium and that equals $110,000. The auction house can legally refer to that 110K as the final sales price, or even the final bid price, because that is what it is. The buyer is fully aware that when the auctioneer says "do I have 100K?" he is really asking the question "Are you, Mr. Bidder, willing to pay 110K? Because when you add in your buyer's premium that will be the price of the car."

The seller may have had some agreement with the auction house not to pay a full commission, who knows for sure. All I know is the final sales price is $110K, so that is what this SPF GT40 was worth on this particular day.

Rich · 02-13-08, 12:41 PM

Quote:

Originally Posted by teak360

The reason the car is shown as sold at $110,000 on the Russo and Steele website is because that is what the buyer paid. If you were there at the auction you saw the car go across the block at $100,000. The buyer pays $100,000 plus a 10% premium and that equals $110,000. The auction house can legally refer to that 110K as the final sales price, or even the final bid price, because that is what it is. The buyer is fully aware that when the auctioneer says "do I have 100K?" he is really asking the question "Are you, Mr. Bidder, willing to pay 110K? Because when you add in your buyer's premium that will be the price of the car."

The seller may have had some agreement with the auction house not to pay a full commission, who knows for sure. All I know is the final sales price is $110K, so that is what this SPF GT40 was worth on this particular day.

scott: Are you aware that the sale prices on the Barrett Jackson website reflect the hammer price and do not include buyer's premium? Check it out at 480-421-6694. Maybe you could explain to them that they are doing it wrong. Be sure to report back to us with your findings.