Record Prices Expected at This Week’s 2013 RM Auctions/Sotheby’s NY Gala
The art world is in a frenzy. From Gurlitt to Rothko to Warhol, checks are being cut in denominations so large they might need an official escort.
This certainly extends to cars. Beautiful dry weather brought out the big spenders all spring an summer. Even versus a three-pack of masters, the $50-million-plus recent Ferrari total is unbelievably huge.
It is particularly interesting that such a sale was so public, in some regards.
Typically, buyers in that type of market are not browsing the night of the auction. Closed-doors deals are generally “okay” to ask for when spending that type of loot anyway.
So the public sale of a vehicle – any vehicle – at that total indicates a flush and frenzied market. And for good reason. Cars are fabulous, and owning a great one can land you some fabulous invitations to Lake Cuomo-or-better shows all year round.
A public sale like this also means other cars we all know any love are changing hands at perhaps a 10:1 ratio. The ten being private, for every one sold in public.
Big dollars, big cars, big dreams.
If you are in Manhattan the 21st of November, perhaps now is the time to see who you “know” at Sotheby’s or RM Auctions!