duPont REGISTRY May 2016duPont REGISTRY GEAR
I would like to report that the Amelia Island Concours weekend was more successful than expected, AND given what we have come to expect from Bill Warner and his team, that is quite the accomplishment. All the events, including the duPont REGISTRYTM/LIVE on Friday night were spectacular. This includes the Sunday Concours event that was subject to an accelerated time schedule due to threatening rain. The pace was most pleasing to everyone, went without a hitch, probably exhausted the Concours staff, AND it didn’t rain!!! duPont REGISTRYTM remains both honored and proud to be a sponsor of this most prestigious event. Congratulations to Bill and his staff and volunteers for another fabulous event weekend.
There were, of course, several automobile auctions that were clearly the “other shoe” for the two-legged Amelia Island Concours weekend. For weeks, all buyers, sellers and observers waited for the “other shoe to drop”. It didn’t. The cumulative total for all auctions was $134 million vs. $114.9 million in 2015. While less cars sold (306 vs. 354) the average price rose to $437,834 vs. $324,466 in 2015. This is solid proof that rare cars with provenance are commanding a strong seller’s market. Obviously not the same for the bottom of the market where prices are flat or down and volume is strong. Hence, this segment of the market is a buyer’s market.
Gooding & Company took home the trophy for highest priced car, a 1961 Ferrari 250 GT California Spider (closed headlight) for $17,160,000. Other notables were a 1962 Ferrari Super America Coupe for $4,400,000 and a 2014 Pagani Huayra Coupe for $2,200,000 – both at RM/Sotheby’s Auctions. Bonham’s trophy car was a 1937 Bugatti Type 57SC Sports Tourer for $9,735,000. NOTE: Long term, the numbers are up, up, up and the ages of the high priced sales are down, down, down. Think about it.
While I am on the subject of expensive, desirable, rare and extraordinary, let me be sure to draw your attention to this month’s uncovered feature. The Lamborghini Centenario LP770-4 is truly an over-the-top birthday gift to us (all collectors), in honor of Ferruccio Lamborghini’s 100th birthday. This splendid combination of power (0-60 in 2.7 seconds), speed (top 217 mph), style (take a look on pages ____ and _____), technology (4-wheel steering, etc.) and construction (carbon fiber everywhere) is truly impressive. Truly an expression of perfection!
As a side note, it was recently reported by MIN (Media Industry Newsletter) that the duPont REGISTRYTM Facebook site was a top 10 in their February Social Media Boxscores report. Measuring just “followers”, duPont REGISTRYTM A Buyers Gallery of Fine Automobiles (not including Homes magazine), ranks 7th overall and substantially ahead of any/all other auto-enthusiast publications. Niche publications often struggle in social media analysis reports, but the duPont REGISTRYTM has always done well. While volume has not been our goal (quality always has) the size of the duPont REGISTRYTM social media marketplace is to the advantage of those sellers looking for their special buyer for their special car!
On the print side, you are holding the most trusted form of media … print vs. TV, radio, and internet. I think you know why, because you are reading it! On the event side, please, please, please keep an eye out for your invitation to a very special event. The first ever duPont REGISTRY/LIVE at the Greenwich Concours d’Elegance on Saturday, June 4, 2016, held at the Delamar Hotel in Greenwich, Connecticut. This is the gala for the Concours and is sure to be a sell-out. Invitations are at the printer. Look for yours soon, and call us! We’ll take your credit card and reserve you a spot.
Thomas L. duPont