Expectations were high until Saturday's auction of RM Sotheby's in Monterey, where one Ferdinand Porsche-built "Type 64" was planned to cross the block and collect a huge sum in the process. After a busy debate on how to classify the car, which was actually built 10 years before Porsche AG was formed, clarification was reached with an expected sale price of $ 20 million per auction house. However, the car is still for sale as a collective barricade mixed any chance of it returning home with another collector this weekend.
When Type 64 rolled onto the stage with applause from the event's millionaire crowd, a "$ 30 million" start bid was apparently announced by the auctioneer. The number of flashes on screens surrounding the room and rapid fire calls pushed the price up to an estimated $ 70 million, and aroused anyone who expected the rare German machine to go for less than a third of that price.
It was then, amidst the roar of laughter and partial doubt that the auctioneer clarified over the microphone that the starting bid was actually $ 1
Renowned Ferrari collector David Lee captured the ordeal on camera and uploaded the video to Instagram early Sunday morning.
The auction was then closed as no bids higher than $ 17 million were bid, and this hugely significant piece in car history failed to meet the reserve.
Whether this was a prank or a real mistake is unclear, though we will bet lately. Despite the uncertainty, the participants' collectors were confused by the move and criticized Sotheby's faulty state.
"For a joke," Johnny Shaughnessy, a Southern California collector present at the auction, told Bloomberg . "They just lost so much credibility. My father could have bought that car $ 5 million years ago. It has been passed for many years and nobody wants it."
An RM Sotheby's spokeswoman then issued a statement to Bloomberg, and said "When bidding opened on Type 64, the steps were incorrectly heard and displayed on the screen, which led to unfortunate confusion in The car reached a high bid of $ 17 million. "
Sales prices have fallen dramatically this year at Monterey, with Hagerty reporting a 25 percent drop in gross through Friday compared to 2018. The highest pickup of the car – a McLaren F1 LM-Spec – sold for $ 19.8 million, although it was initially estimated to go for $ 20 million to $ 23 million.