Car auction yet to commence
Nagel's First Car Auction in 30 Years: A Successful Debut
The Stuttgart auction house Nagel made a triumphant return to the world of automobile auctions last Saturday, hosting a highly anticipated event that attracted both seasoned collectors and curious spectators. The auction, which took place in the Waldbaur area by the Feuersee, featured a diverse range of vehicles, with some reaching their estimated prices and limits, while others fell short.
The most expensive vehicle of the auction was a Ferrari 512 Modificata, which fetched a impressive price of 380,000 euros, plus the standard 12% buyer's premium common in car auctions. The identity of the lucky buyer remains undisclosed.
Despite the Ferrari's high price tag, a Rolls Royce from the model year 1934 stole the show, breaking its estimated price and limit, selling for 110,000 euros, plus premium, to a buyer from Thailand.
However, not all vehicles were as successful. The first lot, a Mercedes SL 320 cabriolet, failed to meet its estimated price during the auction. Five vehicles out of the 26 scheduled for auction were withdrawn before the event, including a potentially high-priced Porsche RSK replica estimated at 700,000 to 900,000 euros.
Auto expert Thomas Kamm, who previously worked with industry leader Bonhams and supported Nagel at the auction, saw the result positively. He considered the high number of subsequent negotiations as 'not unusual' in such events. Nagel CEO Fabio Straub admitted after the auction that the cars will be sold in subsequent negotiations.
The hall was already well-filled before the auction started, with seats in short supply. In addition to on-site bidders, there were participants via telephone and the internet. Among the on-site bidders, some had the funds to afford expensive car collecting hobbies. Many spectators attended solely to witness the spectacle.
The auction did not go too badly for its first car auction, according to Thomas Kamm. He expressed his satisfaction with the event, noting that it was a promising start for Nagel's return to the automobile auction scene.
The outcome of the auction will only be clear in a week, as Straub admitted after the auction. The hall was left with a sense of anticipation, as both collectors and spectators await the final results. The auction house now hopes that the remaining vehicles will find their new homes in subsequent negotiations.
