Car Week Update, including: the Vintage Ferrari market nosedives at Pebble Beach. Jason sells his Lotus Elise.
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Neither of the Carmudgeons went to Sunday's Pebble Beach Concours d'Elegance, but both boys were at Car Week for the rest of the week.
And then left to shoot an episode of "Jason Cammisa on the ICONS" and "Ultimate Drag Race Replay." Which was even hotter than it was in the studio, where it was over 100ºF recording the Lexus LFA episode.
Sreten from M539 destroyed Jason's house, warehouse, and life, but resurrected an E60 M5 (that OTS & Co will be selling!)
They discuss some Behind-the-Scenes on what it's like to try to close a road — Jason means it when he says "professional idiot on a closed course." Hint: it doesn't always work.
Derek's company, OTS & Company, sold Jason's 2009 Lotus Elise SC, which was a pleasant surprise for Jason, who's never sold through an agent before — and who is generally terrible at selling cars. Jason is now a convert — and wants OTS&Co to sell everything!
OTS & Co also won an award at the Quail with the Ferrari 365 "Croisette" shooting break at the Quail!
That coach built Ferrari might be the Ultimate Car Week Car! But it could be M539's Ring Taxi homage E60 M5 manual!
But the real surprise at Car Week was how poorly the Blue Chip Ferraris did at auction. There were some other cars that were soft (including two Mercedes 190E 2.5-16 Evo II that sold below Derek's expectations) but the multiple-million-dollar 1950s and 1960s Ferrari market was the big shock.
At the same time, a Ferrari F50 hit a new record at $5.5 million with fees — so there's probably not some major bubble bursting. Maybe it's just a generational shift?
Lots of philosophical discussion ensues. You should listen.
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The Ferrari Market Crashes at Pebble Beach — Carmudgeon Show Jason Cammisa & Derek Tam-Scott Ep. 161 | The Carmudgeon Show podcast - Listen or read transcript on Metacast
