***CSX 2601 Selling Friday 8:05pm***

[twobjshelbys]

Originally Posted by cobraviper_99

It was probably pretty weird to watch on TV, but actually being on the floor as the bidding on 2601 took place was quite an experience. First of all, the car was surrounded by a mob scene and after Pete B. and Bob B. addressed the room, the crowd remained on the block. Somewhat of a distraction as the bidding began. Clearing the block, letting the car regain everyone's focus and then starting the bidding may have helped create more anticipation. The energy in the room definitely dropped when the bidding crashed to a halt at 6.8 mil. People didn't know exactly what they had just seen. It was an awkward moment.

This wasn't just one of the Daytona Coupes--this was THE Daytona Coupe to own and that was the general consensus of everyone from Pete Brock all the way down. It would be easy to explain it off as a case of the economic downturn making collectors gun-shy but we've been in this economic funk since last fall and big ticket cars are being bought and sold every week at auctions all over the place. The extremely well-heeled collectors have the money and will spend it on that certain car or cars they desire. That has always been the case. When the stock market crashed in 1987, it was the beginning of the hysteric surge in collector car interest and values that we saw back then as the big players pulled out of their paper investments and threw their money down on collector-grade automobiles--and anyone who had a special interest car with even a scintilla of value pulled it out of mothballs and tried to cash in.

From the many conversations I had after the auction with a fair number of high-end collectors who were there and took time to evaluate the no-sale, overall, they agreed that the market has spoken. 2601 hasn't reached the 10 Million Dollar Club just yet, mainly because there's some skepticism about its real value. It's not a question of provenance, originality, desirability, or documentation. It's more a question of whether this or any American car has reached 10-million dollar status yet. Had it sold for 6.8 million, that would still have set the record for the highest price paid at public auction for an American car, and had there not been so much pre-auction pubilcity that it would sell for 10-15 million, 6.8 wouldn't be looking so low rent.

You've nailed it on the head. There are only certain collectors whose portfolio this car would fit. I'm quite surprised Ron Pratte wasn't there (or was he?) This car would have looked so cool next to the Super Snake he bought a few years ago. Maybe he feels an appropriate, non-auction-hyped deal can be struck privately.

I do want to see this car go somewhere where people can see and appreciate it.

FYI, I got some more good shots of 2299 (Coupe #13, Larry H Miller's car) last week. The Shelby American Collection has re-centered the car into a really nice layout. I'll post up a picture later but have to go to a meeting now.