RM Sotheby’s Ruined Its Porsche Type 64 Auction

By Steven Symes Aug 18, 2019
news
Shop Classics
By Steven Symes Aug 18, 2019
This was a huge gaffe by an auction house.

A huge wave of anticipation has been building to tsunami levels as the ultra-rare Porsche Type 64 was about to cross the auction block in Monterey. Then, a gaffe blew up the whole process, with the German car not selling. What’s more, people at the auction were booing and walking out, obviously disappointed with the situation.

After playing videos of the lightweight racecar on screens while dramatic music played, the emcee gave a mini-sermon about the Type 64 being the automotive holy grail. With that kind of buildup, the actual car was wheeled out, then bidding was opened at $30 million. That was shocking, because the car was anticipated to sell for about $20 million, but the desire to own the Porsche was high, so people immediately bid.

Quickly the amount built to an astronomical $70 million, with attendees on their feet as they clapped and cheered. Then the emcee had the current bid switched to $17 million, not $70 million. That was too much for the crowd, with numerous people walking out and many booing the emcee. You can see it all play out in the video below.

'

This was not some simple gaffe, since on the screen at the front of the room $30 million was clearly displayed as the opening bid. If it had sold for $70 million, the Porsche Type 64 would’ve been the most expensive car ever sold at auction by over $20 million.

RM Sotheby’s released a statement affirming that the situation wasn’t some planned joke, but rather that as the bidding opened “increments were mistakenly overheard and displayed on the screen.” That’s a huge mistake.

It’s apparent the $17 million high bid did not meet reserve, so the 1939 Porsche Type 64 won’t exchange hands after all. What was anticipated to be perhaps the most exciting auction at Monterey for 2019 actually did come with quite a bit of energy, just not in the way RM Sotheby’s wanted.  


Related articles

Watch A Retro BMW E30 Promo Video

This was definitely cool in the 1980s. Back in the 1980s BMW was riding high. Its cars were considered great for dr...
By Steven Symes Dec 13, 2019

Coolest Under $15K Cars For Sale On Motorious This Week

While we often cover all sorts of beautiful, unique, and dream-worthy vehicles here at Motorious, sometimes they simp...
By Elizabeth Puckett Dec 13, 2019

Restored 1966 Ford Mustang Fastback Is A Must-Have Mustang

This bright red fastback definitely won't go unnoticed around town or at car shows! After 55 years of production, th...
By Jeffrey N. Ross Dec 13, 2019

Half-Million Mile 1958 Porsche 356A Speedster Up For Auction

Further proof that classic Porsches are meant to be driven. When it comes to collector cars, "all-original" and "low...
By Jeffrey N. Ross Dec 13, 2019
Show Me More

URL copied to clipboard