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I happen to watch part of the Mecum Monterey auction today.
Steve McQueen's '76 Turbo sold for more than $1 million.
Another year newer Turbo sold for about $300k.
Then every type 356 sold for big money. Like $300k for a late 50's speedster.
Likewise, the European supercars (any Ferrari) (many above $1 million) and the newer generation Ford GT 40's were selling for $400k and up. A local Ford dealer here in greater Seattle had two '05's for sale in his showroom for about $150k maybe 5 years ago. They didn't sell.
I'd say the last of the great recession has ended.
I saw where Chad had it up for sell & was wonderin' WHY he would sell his Dads last really loved special ordered car, i didn't see what it had sold for. Just Wonder WHY he would have sold it unless he really needed the money!
I think for the people who can afford those cars there never was a recession. They might have temporarily lost some market value on their investments, but I doubt they stopped paying top dollar for the cars they wanted. Of course if you take away zero percent interest rates, the recession was and is still a depression.
Any reports on what went on at the other auctions?
With regards to the McQueen car, I don't think Chad was the actual owner that consigned the vehicle (although he did steal it for joyrides from time to time at age 15, until he got caught by his dad!). I got the impression that he was in attendance to help promote the vehicle because some of the proceeds are going to a favorite charity. BTW, the Mecum site will give access to their entire data base of auction results. All you gotta do is enter an email address and you're good to go. Pretty interesting to go back through the years and see how the 996 values have fluctuated. Hope that helps.
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