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seller is a member here; congratulations, Don!
 

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Discussion Starter #3
A world record result I believe

Santo

58 Sprint veloce serise 1 vscca 555
58 Sprint veolce series 1
58 Spider veloce project
58 Spider veloce project
58 Spider veloce project
 

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Unfortunately, one off sale prices like this tend to ruin the market. All of a sudden people think their cars are worth so much more, and even basket cases become unattainable. Those such as small resto shops, and other people who wouldn't have even known what these cars were, start to become interested.
Having said that, they are truly beautiful, and there is nothing else like them.
In the past they have been sought out by enthusiasts. Is that about to change?
 

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Unfortunately, one off sale prices like this tend to ruin the market. All of a sudden people think their cars are worth so much more, and even basket cases become unattainable. Those such as small resto shops, and other people who wouldn't have even known what these cars were, start to become interested.
Having said that, they are truly beautiful, and there is nothing else like them.
In the past they have been sought out by enthusiasts. Is that about to change?
Economists refer to auctions as efficient 'price discovery' mechanisms. "Ruin" is a subjective, disparaging term that reveals the author's own prejudices.

Markets find their own equilibrium. If suppliers of anything demand too high a price, buyers will balk and price demands will come back down.

This situation was somewhat unique because the car was arguably better than others that have come to market. But it's not the first Giulietta for which Gooding has obtained a comparatively high price. Only time will tell if it is a "one off".

Higher prices generally improve parts availability, scholarship regarding authenticity, the quality of restoration work, access to higher level events and preservation of the largest possible numbers of cars. Perhaps higher prices ruin the aspirations of those wanting a cheap hobby, but they have the opposite (i.e. positive) effect on the fate of the cultural artifacts we enjoy.
 

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The distortion that does occur after an "exceptional" sale such as this one is that people forget that number 1 cars are worth a LOT more than a number 2 which are worth a lot more than a 3. The result is that it seems like everyone with a running car now thinks their car is worth at least $100K. They are not, of course. But the uninformed speculators will actually drive prices higher than they should be temporarily. Ultimately there are only a few people who have the deep pockets and they want number 1 cars, of which there are VERY FEW, and in the end the price will equalize to what it should be.

The price on these cars has been climbing nicely for the last two years and will most likely spike a bit higher now, drop down a bit in 6 to 12 months but generally continue higher. If you are looking for a value, go back in time 5 years and buy a nice one for $35K.

When I miss a move in the market for a car, I don't blame the market, I kick myself for not acting sooner.

In this case, I am glad I found a great Speciale to buy a few months ago (1 owner, 45K mile car), after looking for 5 years. These cars are super cool and have been neglected by the market for far too long.
 

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I was at this auction and looked at both the SS and Spider very closely. Both cars were very well done, presented nicely, and were getting plenty of attention. There were several potential buyers looking at the cars at the same time as I and interest was strong. In my opinion, neither were #1 condition cars, ie. flawless. In fact, I thought the spider was a bit nicer than the SS. Don, please don't take this comment as a cheap shot at you or your restoration work. It is just my opinion based on my observations.:eek:

Disclaimer: I am not a professionally trained appraiser, just an enthusiast, but I have frequently been called a perfectionist by family and friends.:)
 

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The distortion that does occur after an "exceptional" sale such as this one is that people forget that number 1 cars are worth a LOT more than a number 2 which are worth a lot more than a 3. The result is that it seems like everyone with a running car now thinks their car is worth at least $100K. They are not, of course.
I agree completely. I have said it before, restoring a vehicle to #1 condition is much much more difficult than getting to a #2 condition etc. Not to say these particular car were #1 or 2 in the quality of the restoration work, I didn't see either car up close, but vehicles restored to the top, will always command top money. Keith Martin, Sports Car Market Magazine once told me while looking and appraising my Giulietta, "a guy who has a stable full of million dollar Ferrari's would think nothing of dropping top money for a #1 condition Giulietta if he thought it would look nice in his collection". A hundred grand or so is nothing to these guys. There are plenty of just so so quality Alfa's out there. There are very few #1s, nothing wrong with good drivers, but you really need to compare apples to apples if your going to price them. I still think this is where the prices should be for high quality restored Giulietta's compared to 356's etc.
 

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I was at this auction and looked at both the SS and Spider very closely. Both cars were very well done, presented nicely, and were getting plenty of attention. There were several potential buyers looking at the cars at the same time as I and interest was strong. In my opinion, neither were #1 condition cars, ie. flawless. In fact, I thought the spider was a bit nicer than the SS. Don, please don't take this comment as a cheap shot at you or your restoration work. It is just my opinion based on my observations.:eek:

Disclaimer: I am not a professionally trained appraiser, just an enthusiast, but I have frequently been called a perfectionist by family and friends.:)
The only opinions about my cars that I care about are those held by people who write the checks for the winning bid (and then only until the check clears).

That said, the spider probably was a bit nicer, as the upholsterer's skills seemed to improve between the two cars and the paintwork on the jambs and in the interior was better executed.

On a future airing of "What's My Car Worth ?" on Discovery HDTV, you'll be able to hear Keith Martin's and Donald Osborne's opinions about the SS.

Agree fully with Carmonkey, and am wishing that he'd post a few photos of his recent acquisition.
 

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Nice photos, got any more? Photos, photos, phot...
 

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I know most of this conversation is about the SS, but I was very impressed with Don's Spider Veloce. Here's a few pictures of the quality work.
Credit for the restoration goes to Bill Gillham, although I had to repair damage from the prior owner and do some other fine tuning, like replacing the instruments with NOS gauges that I found in Italy.

Photos show that this car had near zero rust before restoration, as it had a single California owner for nearly fifty years. Perhaps in part because of that, it was just outstanding to drive. It was literally like a new car.
 

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Keith's Daily Driver?

The only opinions about my cars that I care about are those held by people who write the checks for the winning bid (and then only until the check clears).

That said, the spider probably was a bit nicer, as the upholsterer's skills seemed to improve between the two cars and the paintwork on the jambs and in the interior was better executed.

On a future airing of "What's My Car Worth ?" on Discovery HDTV, you'll be able to hear Keith Martin's and Donald Osborne's opinions about the SS.

Agree fully with Carmonkey, and am wishing that he'd post a few photos of his recent acquisition.
Finally caught this episode of What's My Car Worth tonight on Discovery HDTV. Did Keith Martin really say he once had an SS as his daily driver??!!? When? In 1961?
 

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Fran,
Keith Martin drove a Giulia SS in 1988 -'89. it was a stunning original example that had at one time belonged to Portlander Bob McGill. (Dig out your Old Alfa Owner and read about it in Bob's story "The SS, me and Gina Lolabrigida" Gina had even signed the SSs owners manual.) That car is now in Japan. It was also the subject of the painting I did for the poster used for the 2nd Northwest Classic Motor Rally. The painting is also in Japan.
Ciao,
Bill Gillham
 
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