Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakhs

[GTO]

Saffronart, an Indian auction house for art and collectibles, successfully concluded its 24-Hour Online Auction with the sale of a vintage car.

The '61 Pontiac Laurentian sold for Rs. 13.42 lakh following competitive bidding between collectors. This Pontiac is a right-hand drive and powered by a 3.1 liter straight 6 cylinder engine, mated to a three-speed manual transmission. It's odometer reading is ~50,000 miles.

The bidding started at Rs. 7,79,590 and closed at a price of Rs. 13.42 lakhs. The car has been repainted and re-upholstered in the same colour scheme and style as when new. The electrical system is 12 volt, while the generator has been replaced with an alternator.

It has been reported that Mercedes India will soon list vintage Mercs for sale on Saffronart. Saffronart (Saffronart - the online resource for Modern and Contemporary Indian Art) is a platform for the sale of lifestyle goods; fine art, jewellery, prime property, rare carpets, watches and now, classic cars.

[PAVAN KADAM]

Nice to see GTO in this section of T-BHP

The car seems to be in a decent shape, Not well restored i must say. Exteriors and Upholstery are in very good state, but underneath, the buyer has to spend a lot more to detail it. And in the condition it is in, its got a BIG price.

[GTO]

Originally Posted by PAVAN KADAM

Nice to see GTO in this section of T-BHP

Got to come by and see some real cars from time to time

And in the condition it is in, its got a BIG price.

I, for one, believe that there is no exact price that can be set on an out-of-production vehicle. Whatever price the buyer is comfortable with purchasing at, is the right price. See the fluctuation that we see even with some ol' Jeeps! Plus, the collector who bought this Pontiac did so from the comfort of his home / office on his computer. Time is money, and I'd be willing to pay for that. Actually, I frequently pay premium $$$ on the repairs and maintenance of my cars, even though I know that I can get a cheaper deal if I step out of my office. Not everyone has the time to visit different towns & cities and / or checking out multiple vintage cars before sealing the deal. Remember, the typical SaffronArt customer is not one who is necessarily looking for the best deal. You should see the prices of some watches.

I'm happy to see the online scene evolving to this stage.

[wasif]

It will be interesting to hear from the classic car valuation pundits about their take on the pricing of this car and what it finally sold for.

This being an auction the price the car sold for reflects what the buyer thought it was worth not what the seller though it should be worth.

Looking forward to comments on the price !

[Bulldogji]

I wonder from where mercedes India will procure vintage mercedes cars to auction. The Pontiac in question was at some point in time with Tutu Dhawan in delhi and for a long time in the market with no buyers. Good luck to the buyer. If asked for I am sure team BHP members will give him all assistance in getting the car back to original specs and to become a reliable daily runner.BUT in my opinion , a steep price has been paid.

[smartcat]

A vintage car can be a collector's item, but I wonder if it can be called "Art". Any idea if Christie's or Sotheby's ever auctioned cars?

More on this car from Saffronart's auction page -
Saffronart Auctions : THE GENTLEMAN'S SALE APR 17-18, 2012

[wasif]

Originally Posted by smartcat

A vintage car can be a collector's item, but I wonder if it can be called "Art". Any idea if Christie's or Sotheby's ever auctioned cars?

More on this car from Saffronart's auction page -
Saffronart Auctions : THE GENTLEMAN'S SALE APR 17-18, 2012

Both the auction houses you mentioned have a thriving vintage and classic car auction division along with all other leading auctioneers all over the world

[the mole]

Originally Posted by smartcat

A vintage car can be a collector's item, but I wonder if it can be called "Art". Any idea if Christie's or Sotheby's ever auctioned cars?

More on this car from Saffronart's auction page -
Saffronart Auctions : THE GENTLEMAN'S SALE APR 17-18, 2012

Cars have long been recognized as objects of design, good design is always part of the art fraternity. Right from its inception the museum of modern art has recognized and aquired automobiles which they thought have set a benchmark in automotive design. In their permanent collection is a cisitalia, a jeep and a vw beetle. Also two wheelers like a vespa gs.

Now as far as the price goes, we forget that there is world beyond team bhp, its classifieds and experts. 13.3 lakhs is probably the price of a civic. Saffron art of which iam a member has bidders buying paintings in the several crores, 13 odd lakhs is nothing. And again i agree with gto that if i had the money i would not get out of my armchair to save a lakh or two. These guys are looking at the larger picture and time is money for them. Again this is my humble opinion.

[GTO]

Originally Posted by Bulldogji

I wonder from where mercedes India will procure vintage mercedes cars to auction.

An interview quoted the Mercedes India head as saying they have a large stock of vintage cars.

BUT in my opinion , a steep price has been paid.

What would be a realistic, reasonable price?

Nevertheless, do allow me to put forth my point of view : I have been looking out for a W126 and at one time in 2009, actively so. I even drove all the way to Pune to check out an example. Now, W126's go for what....3 - 5 lakhs? If I were to come across a car that:

- I can buy from the convenience of my computer with zero time wasted
- Is reasonably restored (or in good condition)
- Has clear paperwork
- Is running perfectly as of date

I'd be willing to pay 10 - 12 lakhs for it. Now, it may seem like the car is overpriced, but to me, I've saved a hell of a lot of time making calls, on the road to check out cars, haggling with dealers & sellers, finding good body shops, sourcing parts and restoring it. Personally, I would consider this money well spent. On a related note, if a regular Joe hears what I've spent on my Jeep in the last 10 years, he'd . Ask me if I regret it? Not in this life, atleast.

[manishalive]

This is a great start (do not want to comment on for pricing), different art forms coming together in one platform is a very nice effort. Also this brings professionalism in the industry. Kudos for a great initiative. Auction houses are big thing in the world.

[karlosdeville]

Originally Posted by GTO

An interview quoted the Mercedes India head as saying they have a large stock of vintage cars.

That's obviously a glaring mistake - Mercedes Benz India simply cannot be stocking vintage cars. They have an active recognised V&C club movement, and their support to the club activities maybe what they wanted to convey. Plus they were evaluating the classic spares angle some time back.

[awini]

well, these days even 123s are being called "vintage" Mercedes, believe it or not, a 240d was advertised in the hindustan times classifieds a couple of weeks ago, and the owner was expecting about 20 lakhs, in all seriousness!!

[GTO]

Originally Posted by karlosdeville

That's obviously a glaring mistake - Mercedes Benz India simply cannot be stocking vintage cars.

Google'd the article up:

We have started discussions with our headquarters in Germany and they are enthusiastic about it. We own a lot of cars at our museum (in Germany) and elsewhere – so, it's not a bad idea.

I know exports of vintage cars from India are prohibited. Are imports allowed?

On a related note, Mercedes does work closely with SaffronArt : Link

This is one of the Mercs the Classic Center currently has on sale. Imagine it becoming available in India. I'd buy it over the current S Class any which day!!!

Link

[wasif]

As far as my knowledge goes right now you still cant import older cars into India, there is some kind of an age limit and then the cars have to be right hand drive and the import duty will be a killer

I can't imagine MB Classic Center in Germany has a great stock of RHD cars anyway ?

[the mole]

This article in Business India makes my point. It mentions how the uninitiated in the vintage car circle pushed the price of the car up and how they plan to have more such cars up in auction.

Saffronart revs up online auction for classic cars with 1961 Pontiac sale