Go Back   Team-BHP > BHP India > Vintage Cars & Classics in India


Reply
 
Thread Tools Search this Thread
Old 9th November 2012, 11:32   #46
Senior - BHPian
 
the mole's Avatar
 
Join Date: Nov 2006
Location: Mumbai
Posts: 2,154
Thanked: 707 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by Bulldogji View Post
Wasif, lets just say that the gentleman who bought this car in the auction is unlikely to do so again.
The car auction scene in India will definately take some time to pick up. For one owners are reluctant to part with their cars even if purely to rotate them in the market. Most owners buy cars and never sell for a very very long time, point in case the top 2 colllectors in India Mr Bhogilal and Sanghi. This means the supply of good cars to begin with is very very less.

The cars which are available through punters and brokers are generally fixed with stop gap solutions to maximize profits. This Auction house was fooled into thinking this car was original and needed no work. This was not completely true nor was it false. It was a reasonably good car which needed work. The owner may not have had the temperament to see the project through and that has resulted in a resale I would not blame the owner as he was led to believe that he was buying a trouble free car. However new Buyers have to be aware that this hobby is surely not to be viewed with rose tinted glasses.
the mole is offline   (1) Thanks Reply With Quote
Old 10th November 2012, 23:20   #47
BHPian
 
Automaton's Avatar
 
Join Date: May 2012
Location: Mumbai
Posts: 244
Thanked: 181 Times
Default

"The car is in excellent condition. Its radio, dashboard instruments, switches and knobs and chrome embellishments are all in original mint condition. The car has a 3.1 litre, straight 6 cylinder engine, with a three-speed manual transmission. All of its mechanical parts and components are in working order, and it has five brand new Whitewall tyres. It has been repainted and re-upholstered in the same colour scheme and style as the original, with plush carpeting. Even the door pads have a colour scheme that matches original. The generator has been replaced with an alternator for optimum charging of its battery and to accommodate the additional load of an air conditioning system that can be installed in the future. The odometer reads slightly over 50,000 miles."

This is from the website and clearly mentions that superficially as well as mechanically it is in working order.
While opening line states 'The car is in excellent condition.'

From what I remember, this car was one of the stars of the auction. With much hype and hoopla in the media, carefully orchestrated by the auction house, no doubt.

If an auction house puts up something for sale, it has to be genuine, and if it is a mechanical device, has to clarify in what condition it is in clearly, using like always, experts to verify and authenticate and quantify as the case may be.

So someone has advised the car to them as 'excellent' and they have been led on. (Owner, broker, in-house expert?)

So since this is not a regular broker (who we all tend to be suspicious about) and therefore to me, caveat emptor is not applicable in its true sense.

We can argue that an auction house is a corporatised brokerage too. But it has put itself in between as a facilitator brand, and to me, that implies assurance.

Before such auctions take place in India, like I had said somewhere before, they need to be very careful of what they put up. Because the very fact that a unique/rare car has come up means that the few hundred collectors, at least the few that would have heard about it through the usual word-of-mouth channels, don't want to touch it. If it has not been whisked away on a flat bed truck, there must be no takers for it. Definitely a case of caveat emptor here, haha.

Now I feel bad for the ex-owner who (lacking a way to verify the above statements made by auction house or the owner,) has put his faith in the auction house brand implicitly and is probably repenting his rash move.

So maybe its a case where he didn't foresee the downtime that goes with old cars to repair the small things that will keep popping up once in a while, or was he disillusioned with what was promised and what he got?

This particular auction is certainly making me feel uncomfortable.
Automaton is offline   (2) Thanks Reply With Quote
Old 10th November 2012, 23:49   #48
BHPian
 
Join Date: Jul 2008
Location: New Delhi
Posts: 450
Thanked: 231 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by the mole View Post
The right price is always the price at which something sells especially in an auction, so yes the car was probably worth the money and so the new buyer found value in it. I have personally seen worse for more cheers
Yes, I agree. I don't think anyone would bid a fancy price without doing their homework. Even in private deals cars are going for very high prices but since it is a private deal one is not aware of the exact price of the car in the deal. A 1941 Buick Eight was auctioned recently by Dayal Bagh Educational Institute, Agra and the car has been sold for around 22 Lakhs to a buyer from Delhi.
S.B.Jatti is offline   Reply With Quote
Old 11th November 2012, 10:05   #49
Senior - BHPian
 
Join Date: Oct 2007
Location: trivandrum
Posts: 2,402
Thanked: 932 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by S.B.Jatti View Post
Yes, I agree. I don't think anyone would bid a fancy price without doing their homework. Even in private deals cars are going for very high prices but since it is a private deal one is not aware of the exact price of the car in the deal. A 1941 Buick Eight was auctioned recently by Dayal Bagh Educational Institute, Agra and the car has been sold for around 22 Lakhs to a buyer from Delhi.
If my info is correct,that car had no documents.
ajay99 is offline   Reply With Quote
Old 11th November 2012, 12:18   #50
Senior - BHPian
 
the mole's Avatar
 
Join Date: Nov 2006
Location: Mumbai
Posts: 2,154
Thanked: 707 Times
Default

Quote:
Originally Posted by ajay99

If my info is correct,that car had no documents.
Yes you are correct. Infact I did not find value in the car even at its reserve price as there were so many question marks, but well what can you say. We saw this trend in the art world in 2007 and today there is a huge crash! Works are selling for 1/4 the price. In case of the Agra car it was a completely white deal too. Someone thinks there is value in acquiring the car at that price and then restoring it best of luck to them :-)
the mole is offline   (1) Thanks Reply With Quote
Old 12th November 2012, 01:32   #51
BHPian
 
Join Date: Jul 2008
Location: New Delhi
Posts: 450
Thanked: 231 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by ajay99 View Post
If my info is correct,that car had no documents.
Yes, the Institute give any Registration and transfer documents, but they did give a confirmation of sale and receipt for the car in as is where is basis. Based on those documents, you can register the car in some states.
Quote:
Originally Posted by the mole View Post
Yes you are correct. Infact I did not find value in the car even at its reserve price as there were so many question marks, but well what can you say. We saw this trend in the art world in 2007 and today there is a huge crash! Works are selling for 1/4 the price. In case of the Agra car it was a completely white deal too. Someone thinks there is value in acquiring the car at that price and then restoring it best of luck to them :-)
I am not well versed with the trend and prices of art, but the value of classic and Vintage cars I don't see any crash happening if you go by the prices at which currently deals are taking place ! Apart from these cars there are a number of other deals which have taken place and the prices are similar if not better !
S.B.Jatti is offline   Reply With Quote
Old 20th November 2012, 14:38   #52
BHPian
 
Join Date: Dec 2009
Location: planet earth
Posts: 793
Thanked: 883 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

I wonder what is so special about the agra paperless buick? Sold for a couple of million to someone in delhi, now being actively sought by a member of VCCCI for onward sale at more than double the price to a hapless buyer in Gujarat. Perhaps in Rajkot?? Really buyers should beware. I am given to understand, and I hope I am wrong, that the young prince of Rajkot is being actively chased to buy a lot of vintage cars. Hope he is not fooled into paying over 4 million for this Buick.
Bulldogji is offline   Reply With Quote
Old 20th November 2012, 15:40   #53
Distinguished - BHPian
 
Join Date: Aug 2005
Location: BOMBAY
Posts: 1,806
Thanked: 1,889 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Thats quite a story on that Buick - Regular 1941 sedan but with a twin carb layout ! Many rumours on the price from Rs 3 L when it first came out and went to 17L and now no idea what it finally traded at.

I have heard that a few cars were transported to Rajkot and all dolled up to show him, as the news went around that the young prince is setting up a museum there to showcase a few of the existing beauties owned by the family and the Rolls Royce P2 that he recently purchased . Also has the Rolls been registered ? its also paperless in Indian standards.

Someone should inform the young prince and as enthusiasts we should see he is not taken for a ride.

Cheers




Quote:
Originally Posted by Bulldogji View Post
I wonder what is so special about the agra paperless buick? Sold for a couple of million to someone in delhi, now being actively sought by a member of VCCCI for onward sale at more than double the price to a hapless buyer in Gujarat. Perhaps in Rajkot?? Really buyers should beware. I am given to understand, and I hope I am wrong, that the young prince of Rajkot is being actively chased to buy a lot of vintage cars. Hope he is not fooled into paying over 4 million for this Buick.
kasli is offline   Reply With Quote
Old 20th November 2012, 15:55   #54
Senior - BHPian
 
wasif's Avatar
 
Join Date: Jan 2009
Location: Abu Dhabi (for now)
Posts: 2,936
Thanked: 366 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Any pictures possible of this wonderfull Buick
wasif is offline   Reply With Quote
Old 20th November 2012, 16:32   #55
BHPian
 
Join Date: Feb 2010
Location: Mumbai
Posts: 37
Thanked: 65 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

The 1941 Agra Buick.
Attached Images
     
RollingArt is offline   (1) Thanks Reply With Quote
Old 20th November 2012, 17:08   #56
BHPian
 
Join Date: Dec 2009
Location: planet earth
Posts: 793
Thanked: 883 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Kasli, If I recall, all 1941 Buicks had twin carbs, so that is not some unusual feature.
Bulldogji is offline   Reply With Quote
Old 20th November 2012, 17:09   #57
Senior - BHPian
 
KartikeyaL's Avatar
 
Join Date: Mar 2011
Location: Jaipur
Posts: 1,276
Thanked: 4,641 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Here are pictures of the Dayalbagh Buick !!


cheers
Kartik
Attached Images
  
KartikeyaL is offline   (1) Thanks Reply With Quote
Old 20th November 2012, 17:13   #58
Senior - BHPian
 
wasif's Avatar
 
Join Date: Jan 2009
Location: Abu Dhabi (for now)
Posts: 2,936
Thanked: 366 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by Bulldogji View Post
Kasli, If I recall, all 1941 Buicks had twin carbs, so that is not some unusual feature.
Only for one or two years and if I am not mistaken only on the Buick 8 Custom model.

The system is called compound carburation. The engine is running on one carb when it starts and once the speed / RPM exceeds a pre defined number then the second carb comes into play.

It was not a very succesfull system and was scrapped in favour of twin barrel carbs !

There was an orange single owner Buick 8 Custom in Secunderabad, almost never came out and always garaged in this house in Marredpally called the Palace House, I wonder what happened to it

Last edited by wasif : 20th November 2012 at 17:14.
wasif is offline   (1) Thanks Reply With Quote
Old 23rd November 2012, 21:36   #59
BHPian
 
Join Date: Oct 2008
Location: Mumbai/Jamshedp
Posts: 320
Thanked: 145 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Pics of the car taken on 3rd November. I saw the car being taken out yesterday but did not have a camera
Attached Images
       
vikramvicky1984 is offline   Reply With Quote
Old 11th July 2013, 15:34   #60
BHPian
 
Join Date: Dec 2009
Location: planet earth
Posts: 793
Thanked: 883 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Tweety bird tells me, a dodge kingsway convertible is getting dressed up for the next auction.

Any guesses ??
Bulldogji is offline   (3) Thanks Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
6 lakhs to repair Skoda Fabia engine. EDIT: Owner sells Fabia as scrap! zombiedriver Technical Stuff 234 27th July 2016 16:32
Delhi: Online auction of fancy car registration numbers sarathlal The Indian Car Scene 5 9th March 2016 13:23
Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices Rajeevraj The Indian Car Scene 59 29th February 2016 09:41
Hero MotoCorp sells 3 lakh units through Snapdeal, could launch online portal Rajeevraj Motorbikes 6 12th October 2015 22:51
So Merc C Class sells > E Class sells > S Class? GTO The Indian Car Scene 3 10th November 2005 23:51


All times are GMT +5.5. The time now is 00:38.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks