According to the market experts at Hagerty, 2014 was a banner year for collector-car sales, with more than $1.3 billion in action from th...
Showing posts with label Auto Show. Show all posts
Showing posts with label Auto Show. Show all posts
New York revs up for auto show
The 2012 New York International Auto Show will run from Apr. 6 - 15 at the Jacob Javits Center in New York City. The Fisker automotive ...
Aerodynamic automobiles
The flying car Terrafugia Transition made its debut on Apr. 5 at the New York International Auto Show. Here is a look at other aerodynamic...
Tata unveils Megapixel at the Geneva Motor Show
Tata Megapixel is a new four-seater city-smart global range extended electric vehicle (REEV) concept for the performance-seeking and environ...
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Showing posts with label Auto Show. Show all posts
Showing posts with label Auto Show. Show all posts
Monday, 29 December 2014
The 10 most expensive auction cars of 2014
According to the market experts at Hagerty, 2014 was a banner year for collector-car sales, with more than $1.3 billion in action from the major events in Arizona, Pebble Beach and elsewhere. Here's the Hagerty list of the 10 most expensive cars sold at auction this year
Forget Wall Street, or Silicon Valley. Oh, to be a dealer in exotic cars. Your biggest problem would be where to stash all the loot.
Consider that 2013 was surely thought to be a high water mark in the collectible car world, with $1.2 billion in auction house sales. But 2014 will beat that, notching $1.3 billion in hawked sheetmetal — about a third of that during Pebble Beach’s iconic auction week — thanks in large part to vintage Ferrari sales that continue to beggar belief.
Consider that the 10 most expensive cars sold this year were all Prancing Horse models from the ‘50s or ‘60s, which combined brought in north of $125 million. For just ten cars.
Numero uno? A 1962 Ferrari GTO that Bonhams sold for $38 million. Second? A 275 GTB/C for $26 million hammered down by RM Auctions. Well, let’s see, what’ll it be today, a new sprawling ranch in Colorado, or a car?
“It was another banner year for classic cars, with gains at the top-end and more modest growth for the bulk of the market,” says McKeel Hagerty, CEO of the classic car insurer Hagerty, which tallied the 2014 auction stats.
While the Ferrari numbers don’t surprise Hagerty, interest in cars for far saner prices suggest 2015 may witness a new crop of stars coming to the fore. “For example,” he says, “as some people have been priced out of the Shelby Cobra market, they have shifted their focus to Sunbeam Tigers, a lightweight British roadster with an American V8.”
Conversations with execs from four top auction houses echo a few overlapping themes, while revealing some disagreement over some hot models will continue their meteoric rise.
For starters, everyone’s in agreement that these prices are no fluke. Unlike the crazy and largely speculator-driven boom in the late ‘80s, when seemingly anything exotic sold for comical multiples of its true value, today’s huge sales are for vehicles that could well be considered rare automotive art.
“There is a solid foundation around the current boom,” says Alan Squindo, vice president at RM, whose top three sales were the aforementioned 275, a 1964 Ferrari 250 LM ($11 million) and a 1967 Ferrari 275 ($10 million).
“What you won’t hear about are the cars that did not sell for $10 or $20 million. It’s only the cream that rises,” he says. “It’s the best color, the best restoration, the best history. You’ve got to have the perfect storm.”
David Gooding of Gooding and Company is adamant “we’re not in a bubble,” and in fact is not so secretly pleased whenever high-priced cars that perhaps aren’t quite superstars fail to achieve sales figures that should be reserved for truly rare steeds.
“Some cars’ (valuations) had been going up too fast I thought, which wasn’t sustainable, so it’s great to see sanity prevail,” says Gooding, whose top three sellers were a 1961 Ferrari 250 GT ($15 million), a 1955 Aston Martin DB3S ($5.5 million) and a world-record setting McLaren F1 GTR ($5.2 million). “Naysayers say cars not hitting their mark is a sign of weakness (in the market). No, I say that just shows that there is always strong demand for fresh, quality cars at the right price.”
Frank Mecum, 2014 represented “our biggest year of growth yet, in fact, we are enjoying peak years that I feel will continue for another two or three.”
Mecum’s outfit is particularly known for its sales of classic American iron, and this past year saw some big numbers for a range of machines. Topping the heap was a 1964 Ford GT40 Prototype, which fetched $7 million. Next was a 1971 Plymouth Hemi Cuda at $3.5 million, and third was yet another Ferrari, this one a 1961 Ferrari 250 Series II Cabriolet at $2.2 million.
“For 2015, I’m predicting more growth in a broader range of marques,” says Mecum. “And I’ll go ahead and say that the biggest growth could be in motorcycles. For such a long time it’s been a small hobby, but I see that changing.”
Drew Alcazar of Russo and Steele says he has been through three classic car booms and busts. And while he’s been the beneficiary of this most recent explosion in values — top three in 2014: 1956 Mercedes-Benz 300SL at $1.3, 1966 Lamborghini 350GT at $740,000 and a 1972 Ferrari 365 GTB/4 Daytona at $730,000 — he thinks today’s prices are causing some exotic owners to be overly optimistic.
“It’s interesting, today you talk to someone about consigning their (Ferrari) 330 GTC or even a Daytona or Dino, and they don’t want to sell them,” says Alcazar. “They seem sure their cars will be worth double soon. But will these prices leap exponentially as they have in the past 18 months? No.”
He uses the example of a classic ‘50s Mercedes Gullwing, which in roughly six years has tripled in value from $500,000 to $1.5 million. “Will that car triple again by 2020?” he asks. “I doubt it.”
Like all the top auto auction houses, Russo and Steele looks to the annual week-long car extravaganza in Pebble Beach as both a showpiece and guideline for the industry. While this past summer’s event raked in an impressive $430 million, Alcazar saw hints of sanity in the crazy sales.
“I noticed a leveling at Monterey this year, a hesitancy to perpetuate the exponential compounding of values for some cars,” he says, pointing specifically to Porsche’s legendary air-cooled 911 sports car. While very special editions of the model continue to see mushrooming values - such as rare RS, Turbo and Speedster variants — Alcazar says that 2015 may be the year that more pedestrian model values fall back to earth.
“The 911 is a special car, but it’s important to understand there are a ton of them out there,” he says, and Porsche itself brags that some 70% of its vehicles are still on the road today. “People will always pay for stellar, no stories cars. But the rest, they may not.”
As the new classic car auction calendar unfolds in Scottsdale, Ariz., next month with events from Gooding, RM, Barrett-Jackson and others, it will be interesting to see what their top sales tell us about the year to come.
Saturday, 21 April 2012
New York revs up for auto show
The 2012 New York International Auto Show will run from Apr. 6 - 15 at the Jacob Javits Center in New York City.
The Fisker automotive electric Atlantic sedan is seen during its unveiling ahead of the 2012 International Auto Show in New York April 3, 2012
The new Mercedes-Benz GL450 is seen during the 2012 New York International Auto Show at the Javits Center in New York April 4, 2012
The 2013 Lincoln MKZ automobile is seen during a news conference in New York, April 2, 2012. Ford Motor Co is rolling out new Lincoln models with a panoramic glass roof option to lure younger, more affluent buyers, as the No. 2 U.S. automaker tries to revive a luxury brand whose sales peaked two decades ago. The 2013 Lincoln MKZ sedan will be unveiled at the New York auto show this week, one of seven new or revamped Lincoln models to be rolled out by 2015.
The BMW i8 plug-in hybrid automobile is seen at the 2012 International Auto Show in New York, April 4, 2012
The Fisker automotive electric Atlantic sedan is seen during its unveiling ahead of the 2012 International Auto Show in New York April 3, 2012.
A visitor looks at the BMW i8 plug-in hybrid automobile at the 2012 International Auto Show in New York, April 4, 2012
The 2013 Lincoln MKZ automobile is seen at the 2012 International Auto Show in New York, April 4, 2012.
The new Mercedes-Benz SL65 AMG is seen during the 2012 New York International Auto Show at the Javits Center in New York April 4, 2012.
Carlos Ghosn (L), Chairman and CEO of Renault Nissan Alliance, and New York City Mayor Michael Bloomberg pose for photographs in front of the Nissan NV200 taxi van during it's unveiling ahead of the 2012 International Auto Show in New York on April 3, 2012. The Nissan NV200 van won the Taxi of Tomorrow competition in May, which was sponsored by New York City
Friday, 20 April 2012
Aerodynamic automobiles
The flying car Terrafugia Transition made its debut on Apr. 5 at the New York International Auto Show. Here is a look at other aerodynamic automobiles to have traveled road and sky
The Terrafugia Transition, a flying car, unfolds its wings at the 2012 New York International Auto Show at the Javits Center in New York,
This March 23, 2012 photo provided by Terrafugia Inc. shows the company's prototype flying car, dubbed the Transition, during its first flight. The vehicle has two seats, four wheels and wings that fold up so it can be driven like a car, and flew at 1,400 feet for eight minutes during the test. Commercial jets fly at 35,000 feet
Pilot instructor Mathias Klug, front right, and student Mirja Gutzer, red overall, are about to make a landing with their Skyline Event GTS, near Giessen, north of Frankfurt, Germany, on this photo taken Monday, Nov.17, 1997. It took Klug 2 1/2 years to develop and build the peculiar hybrid car-plane that can fly at a speed of 120km/h (72 mls/h) and can go at least 50 km/h (30mls/h) on the ground after removing the wings. The Skyline Event GTS can be ordered at 90,000 marks (dlrs 52,000). Klug said the idea behind was to find a solution that permitted air travelling and further mobility after arriving at the landing ground, like driving to the next beer garden
Inventor Paul Moller sits in a prototype of his new Skycar, a personal "vertical takeoff and landing" vehicle which will start its first flights tests over the next several months. The Skycar, made by Moller International, now costs an estimated $1 million to produce -- but company officials hope eventually to bring the price tag down to around $50,000 dollars
British adventurer Neil Laughton, front, poses with his Parajet Skycar with his team in London, during the launch of the expedition in his Parajet Skycar from London to Timbuktu, Tuesday. Jan. 13, 2009. The Parajet Skycar, the world first road legal. bio-fueled flying car will start from England, Wednesday, to Timbuktu in Mali through France, Spain, Morocco, Western Sahara and Mauritania
"Aerocar", constructed by Edward Sweeney from USA, able to fly and to drive on a street, is shown at the motor show in Essen, Nov. 24, 1997.
The retrofitted DeLorean DMC-12 at the "Back To The Future" 25th anniversary Trilogy Blu-Ray release celebration at Gustavino's on October 25, 2010 in New York City
An Israeli worker of the Urban Aeronautics company services an unmanned flying car at the company's headquarters in the central Israeli town of Yavne, Israel, Thursday, April 28, 2011. The Israeli company Urban Aeronautics is developing an unmanned flying car that can be used in combat operations or for rescue missions, as it can fly close to the ground and above complicated terrain.
A test pilot lands the Personal Air and Land Vehicle PAL-V following a test flight in 2009. Is it a flying car or a driving aircraft? Either way, the Personal Air and Land Vehicle, or PAL-V for short, has just proved it can handle the skies as well as the highway, both at up to 180 kilometres (112 miles) per hour
The car of Ana Catarina Durao loses its wing feathers and heads towards the river Tagus during a Flugtag, Wings' Day, sponsored by a soft drinks company, Saturday, Sept. 9, 2006, in Lisbon, Portugal. Thousands flocked to the river bank to watch the 50 contestants and their flying machines participating in the second edition of the Lisbon Flugtag
Wednesday, 21 March 2012
Tata unveils Megapixel at the Geneva Motor Show
Tata Megapixel is a new four-seater city-smart global range extended electric vehicle (REEV) concept for the performance-seeking and environment-conscious motorist anywhere in the world.
Tata Motors presented at the 82nd Geneva Motor Show the Tata Megapixel, a new four-seater city-smart global range extended electric vehicle (REEV) concept for the performance-seeking and environment-conscious motorist anywhere in the world
Combining a lithium ion phosphate battery and an on-board petrol engine generator for recharging on the move, the Tata Megapixel offers a range of up to 900 km (with a single tank of fuel), path-breaking CO2 emission of just 22 gm / km and fuel economy of 100 km / litre
The class-leading ‘Zero Turn’ drive system of the Tata Pixel (shown at the 2011 Geneva Motor Show) has been taken to an even higher level of manoeuvrability in the Tata Megapixel.
The car’s electric drive has four independent electric motors, one at each wheel. When parking, the electric hub motors drive the wheels in opposite directions, while the front wheels are turned at an acute angle, enabling an exceptional 2.8 metre turning radius.
The at-home charging system is an as innovative induction charging system. The car has simply to be parked over the induction pad for charging to begin
The Tata Megapixel is as distinctive in elegantly melding Indian uniqueness – in colours, graphic themes or materials – with global styling preferences
The integrated lamp and grille graphics sweep back over the front wheel arches to render a dynamic front end
It is echoed on the panoramic roof, creating a harmony between sun & shade and sense of interior space. The floating C-pillar and wrap-around belt line finisher integrate perfectly with the sculpted body surface, flowing freely to the rear and encapsulating the 5-spoke wheel design
A double-sliding door system and the car’s B-pillar less design make entry/exit easy, besides superb visibility
The battery layout and hub motors maximize the interior package. So, the Tata Megapixel comfortably accommodates four adults with luggage
The front seats are cantilevered on the central tunnel, releasing floor space for additional storage. Light leather trims and rose metal details accentuate the joyous marriage of richness of tradition and innovativeness of technology
This fusion is heightened by an advanced human machine interface (HMI). The console docking point can connect a smart phone with the car.
The built-in large touchscreen HMI, at the centre of the instrument panel, thus becomes a common access point for the repertoire of the smart device and for controlling the functions of the car, like temperature, ventilation, driving modes and performance
The Tata Megapixel denotes Tata Motors’ progression from the Tata Pixel, based on the Tata Nano and a city car concept for Europe, reflecting the company’s future design direction
Tata Motors’ displays also include the new generation Tata Safari Storme SUV, the Tata Aria crossover, the Tata Indigo Manza sedan and the Tata Indica Vista hatchback.
Speaking on the occasion, Mr. Prakash M. Telang, Managing Director - India Operations, Tata Motors, said, “The Tata Megapixel, developed by our design centres in India, the UK and Italy, is our idea of a city car for discerning motorists in any megacity of the world.
It is a result of the progress we have made on the Tata Pixel, displayed last year, and also denotes the company’s future design direction.”
Tata unveils Megapixel at the Geneva Motor Show
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