Expectations of RM Sotheby's auction on Saturday in Monterey were high. A "Type 64" built by Ferdinand Porsche was supposed to cross the block and claim a huge sum. After much discussion about how to classify the car, which was built 10 years before the founding of Porsche AG, a clarification was made with an estimated sales price of 20 million US dollars per auction house. The car, however, remains for sale, as a collective blunder this weekend offers no chance to go home with another collector.
When the Type 64 rolled on stage with the approval of the millionaire audience of the event, there was a starting bid of "30 million dollars," the auctioneer reportedly announced. The number flashed on the screens surrounding the room, and rapid-fire calls raised the price to an estimated $ 70 million, baffling anyone who had expected the rare German machine to cost less than a third of that price.
In the midst of laughter and partial doubt, the auctioneer used the microphone to make it clear that the starting bid was actually $ 1
Renowned Ferrari collector David Lee captured the ordeal in front of the camera and uploaded the video on Instagram early Sunday morning.
The auction was discontinued as no bids of $ 17 million were made and this highly significant piece in automotive history did not reach its reserve.
Whether this was a prank or a true mistake is unclear, although we would bet on the latter. Despite the uncertainty, the collectors of the attendees were stunned by the move and strongly criticized Sotheby's misstep.
"What a joke," said Johnny Shaughnessy, a collector from Southern California present at the auction, to Bloomberg [19459006"Youvelostsomuchcredibilitythatmyfatherboughtthisautomobilefivemillionyearsagofornothingandyearsago"
A spokeswoman for RM Sotheby's gave in a statement to Bloomberg, with the words : "When the bid for Type 64 was opened, gains were inadvertently overheard and displayed on screen, resulting in unfortunate confusion in space.
Selling prices dropped dramatically in Monterey this year as Hagerty saw a 25 percent decline in gross sums by Friday compared to 2018, even though it was estimated that it would cost $ 20-23 million.