2007 Ferrari 430 Berlinetta Coupe on 2040-cars

Auto blog

Ferrari and Jaguar dominate the 2017 Arizona Auctions

The 2017 Arizona Auctions took place this past weekend, and one look at the results should be a reminder that big-name auto auctions are no place for mere mortals. Aside from the fast paced nature – seven auction houses moved 3,486 vehicles across the auction block – the rarest and most desirable cars sold for more than most people will make in a lifetime. There were around 20 cars that sold for at least $1 million, with Bonhams topping the list with a $7,370,000 1963 Jaguar E-Type Lightweight. Despite $259.8 million in sales, Hagerty reports that 2017 was only the second biggest weekend in the Arizona auction's long history. The figure was up $9 million from 2016's total, but much of that increase can be attributed to the 12-percent increase in the total number of cars auctioned. The average selling price was $89,601, with the vast majority of vehicles selling for less than $100,000. Aside from the 1963 Jaguar E-Type, there were a number of rare and noteworthy vehicles for up for grabs. RM Sotheby's $6,600,000 1939 Mercedes-Benz 540K Special Roadster was the runner-up in value, followed closely by a $6,380,000 1952 Ferrari 340 America Competizione Spider from Bonhams. The various top-10 lists were awash with Ferraris and other European automakers, though much of the lower-end sales were populated by classic American autos. Most of the top sellers were built before 1970, though the occasional newer model (1995 Ferrari F50, 2005 Porsche Carrera GT, 2006 Ford GT) made it through. Based on 2017's overall theme, it appears that interest on cars from American automakers is on the rise. Hagerty notes that a number of 1980s American sports cars like the Chevrolet Corvette and Pontiac Firebird did surprisingly well. Look for the 2018 auctions to see if the momentum continues. Related Video:

Ferrari production to increase under Marchionne

The head of any company has to juggle the relationship between supply and demand. Of course, that applies to automakers too, even ones as high-end as Ferrari. And as with many other decisions, the way Ferrari has addressed supply and demand has come down principally to the principal.
Enzo Ferrari may have only wanted to sell as many vehicles as he needed in order to fund his company's racing department, but with the F40 - the last model made under his watch - Ferrari ended up increasing supply to meet growing demand. However, after Luca di Montezemolo took over in the wake of Enzo's passing, he started constricting supply. He figured Ferrari could sell 400 units of the F50, for example, so he built 399. More recently, Montezemolo undertook a course of action that spread Ferrari into more markets, while simultaneously constricting supply to increase demand and thereby profitability.
It's been a winning formula for Ferrari. Just days ago, the company announced record earnings up by 14.5 percent in the first half of 2014 over the same period last year, which itself had seen a 7.1-percent increase over the year before. Clearly the strategy has worked, but Montezemolo's successor is already eying a different approach.

1933 Duesenberg tops Mecum Auctions' Monterey results at $3,850,000

Mecum Auctions had three Duesenbergs on offer at the Monterey Car Week's auction event, and the most valuable of the three was the achingly beautiful, one-of-one Bohman and Schwartz-built Model J Disappearing-Top Roadster in white over red, for $3,850,000. Duesenberg reportedly utilized as many as 32 coachbuilders to build custom Model Js, and this one with Hollywood history is unique thanks to its bodywork. In comparison, a 1929 Murphy-bodied Model J Convertible Sedan brought in "just" $1,155,000. The second highest price in Mecum results was achieved by a practically undriven, 307-mile 2014 Ferrari LaFerrari. The Rosso Corsa example slotted in neatly compared to its $3,000,000 to $3,300,000 estimate, finishing at $3,190,000. Another LaFerrari, a yellow one with 419 miles, remained unsold at $3,200,000. Number three is also a Ferrari, an Enzo at that. The 3,150-mile 2003 Enzo, in red over red, finished at $2,860,000. After a string of street cars, the fourth highest Mecum auction price was achieved by the 1989 Daytona 24 Hours, 1989 Palm Beach Grand Prix and 1989 Porsche Cup USA winning Porsche 962. The list of drivers with stints behind the Busby Racing 962's wheel is impressive reading: Derek Bell, John Andretti, Mauro Baldi, Jochen Mass and Brian Redman just to mention a few. Chassis 962-108 had the honor of claiming the 50 th win for a 962 in international competition, at Daytona 24 Hours, and that victory was also Derek Bell's final 24-hour endurance win. As Mecum notes, Bell has called this 962 as his favorite Group C Porsche. It has been in collector hands since 1989, and the selling price reached $2,200,000. The fifth car is a very significant Lamborghini Miura: an unrestored original with its factory coat of red, it is the second Miura P400S model built, and the earliest known S survivor. It has just 28,613 miles on its odometer, and it still wears the Pirelli Cinturatos it was given at the factory. Among all Miuras, this 1969 car is certainly a unicorn, and as a result it sold for $1,155,000. The rest of the top 10 sellers from the Mecum auction follow: 1929 Duesenberg Model J Murphy Convertible Sedan, $1,155,000 2012 Dallara DW12 Honda Indy Car, $1,127,500 2017 Ferrari F12tdf Coupe, $1,045,000 1936 Auburn 852 Supercharged Speedster, $1,017,500 1973 Ferrari 365 GTB/4 Daytona Coupe, $825,000 Related Video: Featured Gallery Mecum Auctions Monterey 2018 View 10 Photos News Source: Mecum AuctionsImage Credit: Mecum Auctions Misc.