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Old 19th August 2019, 15:31   #1
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Default World's first Porsche fails to sell due to auction house blunder

According to a media report, a Porsche Type 64, which is said to be the first car with a Porsche badge, has failed to sell at an auction.

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The report suggests that the car was not sold due to an error in the auction. Bidding started at US$ 13 million, but the screen showed US$ 30 million. The bids went up to US$ 17 million, but the screen showed US$ 70 million. The auctioneer then realised the mistake and sale of the car was stopped. The auction house was expecting US$ 20 million for the car. If the car had been sold for US$ 17 million, it would have become the most expensive Porsche in the world.

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The car was designed by Ferdinand Porsche and three cars were said to be built around the time World War 2 started. However, only 1 car remains today. It was built using lightweight alloys to take part in the 1939 Berlin-Rome race that was scrapped due to the onset of the war. It is powered by a Volkswagen four-cylinder, air-cooled engine producing 39 BHP and has a top speed of 145 km/h. It is said that Ferdinand Porsche's son, Ferry, applied the Porsche badge to the car.

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Link to Team-BHP News

Source: CNN, New York Times

Last edited by ChiragM : 19th August 2019 at 15:33.
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Old 19th August 2019, 15:55   #2
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Default re: World's first Porsche fails to sell due to auction house blunder

Still a better looking car than a Veyron and Chiron.

Still has a better finish than a Royal Enfield
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Old 19th August 2019, 16:37   #3
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Default re: World's first Porsche fails to sell due to auction house blunder

Seems the auto slowdown is going global.
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Old 19th August 2019, 16:42   #4
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Default re: World's first Porsche fails to sell due to auction house blunder

Quote:
Originally Posted by Mr. Nobody View Post
Seems the auto slowdown is going global.
I too thought the same looking at the title, but no. Read the full article and it seems that a technical glitch has caused this non-sale. the initial bidding was supposed to be 13 million dollars, which was botched up to 30, and the offer for 17 million dollars was again botched up by the system to 70 million dollars, after which the auction was called off.
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Old 19th August 2019, 16:56   #5
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Default re: World's first Porsche fails to sell due to auction house blunder

Here's a Video of the auction faux pas:

https://www.instagram.com/p/B1Sqn1Jh...=1kxcmkz5d5pcr

World's first Porsche fails to sell due to auction house blunder-capture.fauxjpg.jpg

Last edited by Rehaan : 19th August 2019 at 16:58.
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Old 19th August 2019, 18:43   #6
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Default Re: World's first Porsche fails to sell due to auction house blunder

Quote:
Originally Posted by aravind.anand View Post
I too thought the same looking at the title, but no. Read the full article and it seems that a technical glitch has caused this non-sale. the initial bidding was supposed to be 13 million dollars, which was botched up to 30, and the offer for 17 million dollars was again botched up by the system to 70 million dollars, after which the auction was called off.
Several news site mention that it was actually the auctioneer who did not pronounce the numbers correctly. He mumbled on the teens

E.g. 13 was pronounced not as thirteen, but as thirty!

Quote:
In videos posted online of the event, the auctioneer called out an opening bid of $13 million but the large screen behind, which which showed the current bid price, showed $30 million.
Many in the audience gasped and others laughed. It was unclear from the auctioneer's voice that he was, in fact, saying "-teen" and not "-ty." The problem continued right through $14 million, which was displayed as $40 million then $15 million was shown on the screen as $50 million. The board read $70 million before the auctioneer realized the trouble just behind him and asked for it to be corrected.
https://edition.cnn.com/2019/08/18/s...ion/index.html
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Old 19th August 2019, 22:13   #7
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Default Re: World's first Porsche fails to sell due to auction house blunder

Yup, thats what I ve heard, that the auctioneer was pronouncing the numbers in-correctly. And what he was pronouncing was being displayed on the screen.

Never the less, they would probably have this on auction again.

As far as Porsche goes, does not get more rare than this.

@2000rpm - I concur that it would definitely be better finished and maybe even more reliable than a 2019 RE. But in my book as far as looks are concerned, the Chiron has it beat. Veyron, maybe not.
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Old 19th August 2019, 22:37   #8
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Old 20th August 2019, 09:17   #9
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Default Re: World's first Porsche fails to sell due to auction house blunder

A video I watched recently of Chris Harris driving the Type 64. Legendary car.


Last edited by tharian : 20th August 2019 at 09:20.
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Old 21st August 2019, 17:40   #10
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Default Re: World's first Porsche fails to sell due to auction house blunder

Quote:
Originally Posted by Jeroen View Post
E.g. 13 was pronounced not as thirteen, but as thirty!
+
Quote:
Originally Posted by bigron View Post
Yup, thats what I ve heard, that the auctioneer was pronouncing the numbers in-correctly.
I felt that way too... BUT, I was also watching the incorrect numbers on the display screen whilst listening to him say them.

Our brains let us modify what we hear based on what we see (or read).

It's called the McGurk effect.

There's an example of it at the start of this video:

Last edited by Rehaan : 21st August 2019 at 17:50.
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Old 21st August 2019, 17:47   #11
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Default Re: World's first Porsche fails to sell due to auction house blunder

Oh wow, thanks for the video.
You learn something new everyday.

On a different note, I have already booked myself with an ENT Specialist.
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Old 22nd August 2019, 12:09   #12
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Default Re: World's first Porsche fails to sell due to auction house blunder

The auctioneer may have lost his job and potentially his career. As Jeremy Clarkson would say ''Will be shot at dawn by a German''.
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Old 22nd August 2019, 23:50   #13
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Default Re: World's first Porsche fails to sell due to auction house blunder

If we just hear him,
It’s ending with ‘TY’ instead of ‘teen’

Screen showed what was being said.
It showed the same amount when voice corrected it.

In next bidding Porsche should be able to fetch more. The anchoring heuristics will play a role.

Last edited by procrastinator : 22nd August 2019 at 23:51.
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