Blue Chip Market Update
|Click the image above for full insights into Goodfellow’s market analysis, from his TheGoodfellowPerspective.com blog. Pictured above is Hagerty’s Blue Chip Car Index|
In late April, RM Auctions sold a mint Ferrari 330 GTS for nearly $2 million. One month later a one-off Aston DB4 GT (the very cool Bertone-designed Jet) found a new home for a shade under $5 million, just a couple weeks before a Ferrari 340/375MM sold for $13+ million at Villa d’Este. Then Bonhams blew those prices out of the water when a 1954 Mercedes-Benz W196 F1 brought $29.6+ million, setting a world record price for a car at auction.
To illustrate how far (and how quickly) the blue chip market has moved, not quite two years ago a friend and client was itching to buy a 330 GTS. I found him several examples in comparable condition to RM’s car, and all were priced at $900,000-$1 million. In other words, in less than 24 months that Ferrari model doubled in value.
So what’s up with these seemingly nutty prices, and soaring market movements?
…to discuss how we can add considerable immediate and long term value to your vintage automobile using our preservation process. Every car can benefit from our preservation work, including recent and older restoration cars. If you’ve been following the market, you know how much “original” means as well as what condition that “original” is in and presented as.
|Come See Us!|
Our beautiful restoration facility and showroom are located halfway between Los Angeles and San Francisco on the Central Coast area of California. Give us a call to set up a time to come visit us if you’re in the area. We’d love to have you stop by!
Please contact us with any questions you might have regarding our 30+ years in the collector car consignment and restoration industry and how we might be of assistance to you.
Scott Grundfor Company