The Plusses and Minuses of the Monterey Auctions 2013 by Winston Goodfellow
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The world’s greatest collector car orgy took place on California’s Monterey peninsula during the third week in August. Before digging into the gems and lumps of coal, lets make some sense out of the most talked about item of the week-the $27 million NART Spider.
Several years ago I was fortunate enough to spend 48 hours with the most desirable NART of all (chassis number 9437 GT; alloy body, 17th overall at Sebring in 1967, cover story for Road & Track, and in the original “Thomas Crown Affair”), so I can easily understand why someone would pony up for such a delicious Ferrari. Exceedingly rare, great looks, good ride, superb V12 sound, sensory bombardment galore that can only be found in this car, and a whole lot more!
But is all that enough to justify a “27” followed by two commas and six zeros? The succinct answer is yes, when you compare it to the commodity the U.S. buyer used to purchase it. History shows NART Spyder production is ten, and it also shows that 2.4 trillion units of what paid for the Ferrari (dollars, as measured by M2) were created out of thin air in the past 42 months. Thus, the relationship between the two objects had to change, and it did. (For a complete explanation of monetary expansion being the underlying foundation of the price boom, my August entry explores it in great detail.)
And now for the Cool/Not Cool of my time in Monterey, in no particular order:
Cool
Being able to interview Lamborghini’s legendary test driver Valentino Balboni…
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