Magnus 911 S/TR sells for 275.000 dollar

[Louie]

Spoke with 2 very well known and respected fellas in the ultra high end car business. (One was a widely read Ferrari expert)

My questions to them:
1) Bubble?
2) Who are they buyers and how are these buyers different vs previous run ups?

Neither thought the market is a bubble but both thought prices were full retail at Monterey. They also told me that globally the demand for the best higher end cars is unprecedented. The number of millionaires and billionaires is like never before. The dealer who brokers mostly Ferraris told me about the buyers he knew would be bidding on the cars this weekend...all well known Billionaires. The name Leslie Wexner was mentioned several times. He is an interesting collector. Mid 70s and he is just starting his Ferrari collecting. In the last 5 years he has collected 60. A 25M Ferrari is nothing for a Billionaire. Its a days worth of interest.

Porsches. Certain cars are going to continue to be in high demand. The Germans I met were all in search of cars to complete 'collections'. There were 904s, 4 Cam 356s etc all selling for millions. This trend will continue. We have a 67s and were focused on that market for obvious reasons. Ran into several buyers who were there just to buy 67Ses. 2 dealers told me that the price if a tier 1 67s is $225-250k and they expect the values to be closer to $300k by next year or sooner. (If you need their contact PM me)

The previous run ups were not like this one. Everyone brings up the late 80s Ferrari bubble after Enzo passed. What is different now vs then? Everything. No need to reinforce this point. Anyone old enough will completely understand.

Muscle car bubble? Not a global market. Europeans don't drive American Muscle. The other major factor at play for the muscle car bubble that isn't now...borrowed money from HELCOs. Once the HELOC money went away so did that market.

What would cause this market to reverse? Housing popped when there was a spike in sub prime mortgage defaults in late 07. There are no early indicators for collector cars. Having been to Monterey every year for nearly a decade its my opinion that the market is not a bubble and will continue to increase. Certain cars will level off and maybe even slightly reverse. Overall, the market conditions are like never before.

[kouwenhoven]

What is interesting is that this car is worth more than it's parts and work put into it (correct me if I'm wrong Magnus) and before this point only cars that were overpainted by real artists brought more than the sum of their parts. It might be an indication that cars also Porsches are becoming more and more objects of art instead of driving machines. So, when not all very, very good built R Gruppe cars are up in value from now on, it has to be Magnus' signature - and the fact that this car is beautiful in every aspect.

[LongRanger]

Another thread . . .

http://www.early911sregistry.org/for...STR-II-Auction

[curtisaa]

Spoke with 2 very well known and respected fellas in the ultra high end car business. (One was a widely read Ferrari expert)

My questions to them:
1) Bubble?
2) Who are they buyers and how are these buyers different vs previous run ups?

Neither thought the market is a bubble but both thought prices were full retail at Monterey. They also told me that globally the demand for the best higher end cars is unprecedented. The number of millionaires and billionaires is like never before. The dealer who brokers mostly Ferraris told me about the buyers he knew would be bidding on the cars this weekend...all well known Billionaires. The name Leslie Wexner was mentioned several times. He is an interesting collector. Mid 70s and he is just starting his Ferrari collecting. In the last 5 years he has collected 60. A 25M Ferrari is nothing for a Billionaire. Its a days worth of interest.

Porsches. Certain cars are going to continue to be in high demand. The Germans I met were all in search of cars to complete 'collections'. There were 904s, 4 Cam 356s etc all selling for millions. This trend will continue. We have a 67s and were focused on that market for obvious reasons. Ran into several buyers who were there just to buy 67Ses. 2 dealers told me that the price if a tier 1 67s is $225-250k and they expect the values to be closer to $300k by next year or sooner. (If you need their contact PM me)

The previous run ups were not like this one. Everyone brings up the late 80s Ferrari bubble after Enzo passed. What is different now vs then? Everything. No need to reinforce this point. Anyone old enough will completely understand.

Muscle car bubble? Not a global market. Europeans don't drive American Muscle. The other major factor at play for the muscle car bubble that isn't now...borrowed money from HELCOs. Once the HELOC money went away so did that market.

What would cause this market to reverse? Housing popped when there was a spike in sub prime mortgage defaults in late 07. There are no early indicators for collector cars. Having been to Monterey every year for nearly a decade its my opinion that the market is not a bubble and will continue to increase. Certain cars will level off and maybe even slightly reverse. Overall, the market conditions are like never before.

This diatribe is entirely speculation:

Truth is:

Man has money
Man spends money
Man gets car

...and there it is !

[Joost Hermes]

What is interesting is that this car is worth more than it's parts and work put into it (correct me if I'm wrong Magnus) and before this point only cars that were overpainted by real artists brought more than the sum of their parts. It might be an indication that cars also Porsches are becoming more and more objects of art instead of driving machines. So, when not all very, very good built R Gruppe cars are up in value from now on, it has to be Magnus' signature - and the fact that this car is beautiful in every aspect.

Magnus therefore is a true artist ;-)

Well done mate, it is a uniqe car.

[Kris Clewell]

Magnus therefore is a true artist ;-)

as someone on pelican once said, a true davinci.

[peterf]

Overall, the market conditions are like never before.

China and Russia are other factors which make me believe that classic car prices will continue to rise relentlessly. China already is the biggest car market in the world, but how many of us have sold an early 911 to China recently? I’d wager that’ll change...

By the way Louie, thank you for your insights and field reports from the auctions. I greatly enjoy reading them.

[southbay356]

is it an S chassis number ? that helps half the price......

there was another auction for the Ferris Bueller California Spyder from the movie....... its a kit car and was over $200K

but its cool bragging rights when you other rich buddies see you in it

[Joost Hermes]

China and Russia are other factors which make me believe that classic car prices will continue to rise relentlessly. China already is the biggest car market in the world, but how many of us have sold an early 911 to China recently? I’d wager that’ll change...

By the way Louie, thank you for your insights and field reports from the auctions. I greatly enjoy reading them.

China is not open for classic cars yet, but there are way's. (Which i will not share yet)

[peterf]

China is not open for classic cars yet, but there are way's. (Which i will not share yet)

You are such a tease.