You've "gotta love" auctions. I know i do. Often times they will present a picture of stability and balance, of gradual and consistent growth one would want and indeed hope for in an investment vehicle (pun thoroughly intended). And then there are times when some unexpected anomaly creeps in, upsets the system and unleashes the unexpected.
Take for example the Veneno Roadster offered at Bonhams Bonmont Sale in Cheserex, Switzerland in September. The car was part of a collection of 25 privately owned hypercars seized by Swiss authorities from its owner who was brought up on charges of corruption and money laundering. The auction announced many months in advance brought out a number of bidders hoping to snag a great deal from the selection of cars offered at no reserve with proceeds going to charity. But many left the auction disappointed and empty handed as the bids climbed to unexpected heights and the Veneno Roadster alone hammering out at € 7,539,610 ($8,337,182 US), a world record for any Lamborghini.
As one would almost expect, the result brought out a few more one-offs for an upcoming auction held just this past month. But one important factor accounted for the result that most people weren't aware of unless you were present at the Cheserex sale. According to reports the collection of 25 supercars and hypercars were all bought back by the same former owner they were seized from who obviously didn't care about the price he had to pay.
So if you were expecting a sudden rise in the market for all Lamborghinis, as some owners were, you were probably baffled by the unspectacular and even disappointing results of last month's auctions in Saudi Arabia and the UAE, especially when you consider some of the special cars being offered. Most notable among these being the Gallardo Concept S which didn't sell coming in $200,000 shy of its last selling price two years ago, and the Zagato Raptor which did sell but considerably lower than it had been offered in recent years.
So the lesson? Prices at auction can be a reliable guide to valuations only if you take into account the whole market and extract possible anomalies. And don't realistically expect litghening to strike twice.
Stay tuned...
Glen Kohut, Managing Editor
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RECENT UPDATES / NEW PAGES ADDED...
Miura P400 #3513,
Miura P400 S #4103,
Espada S2 "Rat Rod" #7695,
Urraco P250S #15996,
Countach 25th #KLA12475,
Diablo 2wd #NLA12325,
Diablo SE30 #RLA12122,
Veneno Roadsters #FLA03002 & #FLA03007.
At present we have 2407 individual cars photographed out of 45,000+ cars built.
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UPCOMING AUCTIONS
CCA Auctions, Warwickshire, UK, 7 Dec 2019
Lot 567 - 1972 Espada S2 #8872
Mecum, Kissimmee, USA, 11 Jan 2020
Lot S123 - 1970 Espada Rat Rod #7695
BH Auction, Tokyo, Terrada, 11 Jan 2020
Lot 11 - 1984 Countach LP5000 S #ELA12671
Lot 11 - 1994 Diablo SE30 Jota #RLA12139
Gooding, Scottsdale, AZ, USA, 17-18 Jan 2020
Lot - 1968 Miura S #3787
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AUCTION RESULTS
Aguttes, Lyon, France, 9 Nov 2019
2005 Murcielago Roadster - Sold for $292,960 US
Worldwide, Rhiyadh, Saudi Arabia, 23 Nov 2019
1989 Countach 25th #KLA12002 - DNS
RM Sotheby's, Abu Dhabi, 30 Nov 2019
1979 Countach LP400S1 #1121078 - Sold for $305,000
2001 Diablo GT #YLA12555 - DNS
1999 Diablo VT Roadster #XLA12222 - Sold for $169,625
2006 Gallardo Concept S #6LA00001 - DNS
1996 Zagato Raptor #P06 - Sold for $1,086,250 US
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24 Nov 2019
Automobili Lamborghini presents its new concept car, the Lamborghini Lambo V12 Vision Gran Turismo, ahead of the World Finals of the 2019 FIA Certified Gran Turismo Championships taking place in Monte Carlo, Monaco
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