Pebble Beach Auction Results

[Tom Tate]

There were a lot of Tubs crossing the auction blocks last weekend at Pebble Beach but I have yet to hear any discussion of the results. Can someone who was there give us the news, up, down or flat numbers?

[Matthew Devereux]

I don't know much about this one. Is it the Gooding and RM Auctions?
http://www.goodingco.com/results/realized/?cat=44
https://www.rmsothebys.com/en/home/results/2016
I see a couple 356 cars. Prices look healthy.

[Doug McDonnell]

Pretty sure this Normal sold at Russo and Steele for 72.6K http://forums.pelicanparts.com/porsche- ... coupe.html

[Brad Ripley]

My colleague, Brad Brownell, here in the Reno office authored an almost complete report of the Monterey auctions in Flat Sixes. See http://flatsixes.com/cars/for-sale-cars ... n-results/ report is lacking prices from the Russo & Steele auction; maybe go to their website.

Notable 356 sales:
56 Speedster $467,500
Conv D 324,500
56 Speedster 380,000
56 Spstr 4-cam 891,000
55 Speedster 370,000
other 914/6 $112,500

[Adam Wright]

The 550 was a no sale if I remember correctly.

[Paul Allen]

A '64 C coupe sold for $121k including premium.

Translation: hammer price $110k, buyer pays 10% more, i.e., $121k, seller receives 10% less, i.e., $99k.

Still seems like a strong price for a coupe though.

https://www.bonhams.com/auctions/23425/lot/12/

[C J Murray]

A '64 C coupe sold for $121k including premium.

Translation: hammer price $110k, buyer pays 10% more, i.e., $121k, seller receives 10% less, i.e., $99k.

Still seems like a strong price for a coupe though.

https://www.bonhams.com/auctions/23425/lot/12/

To me that is a pretty poor example with too many things wrong to even list here. Most horrible is the look of the panel fit and the appearance that a lot of filler was used and then the painters sanded the car making the panel fall into the gap. At least they could have sanded this tart with the doors on to get it flat. $121K is around 3 times what it is worth. Other than that I like it.

[Doug McDonnell]

I only looked at the listing pictures being in Michigan but I agree with CJ not impressive enough to get that kind of money. Too many things wrong. I wouldn't go so far as to say worth 40K though. Maybe someone who doesn't look at many 356s but read the recent Excellence magazine buyers guide that said C coupes that are excellent but not up to show winner level are worth 115K bought it. Or else we are starting another run of Irrational Exuberance. But it must make you feel like you Stole the sunroof coupe you just bought Paul.

[Thomas Frisardi]

I know of one 356 that sold at Monterey last year. The same car sold again this year for $3,000 more. That, to me, is a sign of a healthy market. Prices for 356s don't seem to be as volatile as, say, early 930s or 246 Dinos.

[Paul Allen]

But it must make you feel like you Stole the sunroof coupe you just bought Paul.

Well, to inject some real world reality, my shipping, sales tax, and redoing the seats and a few other minor things will easily add $10k to my initial purchase price, but I am hoping maybe I got a sunroof car for what would have been a fair price for a std coupe.

Time will tell!

[Paul Allen]

I know of one 356 that sold at Monterey last year. The same car sold again this year for $3,000 more. That, to me, is a sign of a healthy market. Prices for 356s don't seem to be as volatile as, say, early 930s or 246 Dinos.

Since in these auctions the seller only gets about 82% of what the buyer pays, chances are that guy lost a bunch reselling that car.

[C J Murray]

I am always tough on cars that appear to have quickie body work because stripping it and repairing the ugly metal that the Bondo covers is at least a $40k expense. The poor body restoration will pop out quickly and then it can't be ignored. That C has all the indicators of an incorrectly restored car done cheap for a quick buck and it is the hidden(not well hidden) body problems that will hurt the most. Buy it for 40 and spend 40+ to fix it and you have a nice $100k car. New tools and travel kit don't make up for these liabilities.

[Doug McDonnell]

So CJ you think it was what I refer to as a "Lipstick on a pig". I have a really hard time evaluating black cars from pictures. I know of 2 black 356s that sold here in the Midwest in the last few months. One had blank no number case trans rebuild by Vic and was way nicer than this car and sold for high 70s. The other was a 63 but had a SC engine and was an ex California car. I actually looked at it and although not show winning was very nice. It also sold for high 70s. IMHO I would take either of those cars over this one even though it is numbers matching.

[Adam Wright]

Since "Porch's" are very hot right now I'm seeing a lot of quick resto, straight to auction cars. I'm getting lots of calls from shops who have no business restoring a Porch, but they are doing it, and sending them to auction. They call for parts and no nothing about the car, and then argue with me on why something won't fit or is incorrect.
"It's a 356B, send me the one for a B!"
The best was the guy who was telling me how he saved the floors in a Porch, by using bed-liner on the rusty floors, "hard as a rock".

There is a shop here locally who bought a cut notchback and is finishing it as a cab, they have no clue. They dropped it off at my mechanic because they said they tried for 3 days to get it running and couldn't. They were trying to hook the sparkplugs up like a benz, 1-3-4-2, doesn't work out so well in a Porch....

[Matthew Devereux]

My experiences at the Arizona auctions backs that up. Many were obviously quickie restos done by people who don't know much about these cars or don't have the time and money to do them right. Everybody is trying to get the big bucks even though their car doesn't measure up. I've seen many cars with bad fitting doors and hoods. One car had a run in the paint. It might have still been wet.