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


Reply
 
Thread Tools Search this Thread
Old 16th May 2012, 09:22   #1
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 47,754
Thanked: 89,445 Times
Default Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakhs

Name:  1.jpg
Views: 5655
Size:  66.3 KB

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.

Name:  9.jpg
Views: 7945
Size:  98.7 KB

Name:  2.jpg
Views: 4857
Size:  105.9 KB

Name:  3.jpg
Views: 4907
Size:  117.3 KB

Name:  4.jpg
Views: 4659
Size:  268.6 KB

Name:  5.jpg
Views: 4693
Size:  177.0 KB

Name:  6.jpg
Views: 4639
Size:  98.9 KB

Name:  7.jpg
Views: 4437
Size:  96.2 KB

Name:  8.jpg
Views: 4419
Size:  141.9 KB
GTO is offline   (12) Thanks Reply With Quote
Old 16th May 2012, 09:45   #2
BANNED
 
Join Date: Jan 2007
Location: NAMMA BENGALURU
Posts: 5,613
Thanked: 2,460 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

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.

Last edited by PAVAN KADAM : 16th May 2012 at 09:47.
PAVAN KADAM is offline   (1) Thanks Reply With Quote
Old 16th May 2012, 09:51   #3
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 47,754
Thanked: 89,445 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by PAVAN KADAM View Post
Nice to see GTO in this section of T-BHP
Got to come by and see some real cars from time to time

Quote:
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.

Last edited by GTO : 16th May 2012 at 09:53.
GTO is offline   Reply With Quote
Old 16th May 2012, 10:42   #4
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

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 !
wasif is offline   (2) Thanks Reply With Quote
Old 16th May 2012, 11:01   #5
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 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.
Bulldogji is offline   (1) Thanks Reply With Quote
Old 16th May 2012, 12:55   #6
Distinguished - BHPian
 
smartcat's Avatar
 
Join Date: Jun 2007
Location: Bangalore
Posts: 2,978
Thanked: 11,945 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

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
smartcat is online now   (1) Thanks Reply With Quote
Old 16th May 2012, 14:01   #7
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 smartcat View Post
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
wasif is offline   (1) Thanks Reply With Quote
Old 16th May 2012, 15:11   #8
Senior - BHPian
 
the mole's Avatar
 
Join Date: Nov 2006
Location: Mumbai
Posts: 2,154
Thanked: 707 Times
Default

Quote:
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.
the mole is offline   Reply With Quote
Old 16th May 2012, 15:38   #9
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 47,754
Thanked: 89,445 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by Bulldogji View Post
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.

Quote:
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.
GTO is offline   Reply With Quote
Old 16th May 2012, 17:08   #10
Senior - BHPian
 
manishalive's Avatar
 
Join Date: Apr 2009
Location: Bangalore
Posts: 2,424
Thanked: 703 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

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.
manishalive is offline   Reply With Quote
Old 17th May 2012, 09:13   #11
Team-BHP Support
 
karlosdeville's Avatar
 
Join Date: Jul 2006
Location: Pune
Posts: 9,628
Thanked: 8,113 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by GTO View Post
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.
karlosdeville is offline   (1) Thanks Reply With Quote
Old 17th May 2012, 10:29   #12
BHPian
 
Join Date: Aug 2006
Location: New Delhi
Posts: 496
Thanked: 261 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

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!!
awini is offline   (1) Thanks Reply With Quote
Old 17th May 2012, 17:18   #13
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 47,754
Thanked: 89,445 Times
Default Re: Saffronart, an Indian online auction, sells '61 Pontiac Laurentian for 13.42 lakh

Quote:
Originally Posted by karlosdeville View Post
That's obviously a glaring mistake - Mercedes Benz India simply cannot be stocking vintage cars.
Google'd the article up:

Quote:
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

Name:  W126.jpg
Views: 3947
Size:  87.9 KB

Last edited by GTO : 17th May 2012 at 17:23.
GTO is offline   Reply With Quote
Old 17th May 2012, 17:34   #14
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

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 ?
wasif is offline   (1) Thanks Reply With Quote
Old 18th May 2012, 10:22   #15
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

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
the mole is offline   (1) 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 17:58.

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