Market Intelligence
Pay one, get five. My Palm Beach deals
The recent Palm Beach RM Sotheby’s auction saw 139 out of 176 cars sold for less than $100,000. Among these reasonably priced cars, a 1967 Maserati Ghibli was sold for $84,700 and a 1958 Chevrolet Impala Convertible for $63,800. For adventure enthusiasts, a 1982 Toyota Land Cruiser FJ45 or a 1948 Allard K1 could be purchased for $50,600 each. A Lamborghini Diablo from 1991, once owned by Mario Andretti, was sold for $68,200 and required restoration. These affordable cars offer good deals and fun projects to enjoy during lockdown.
RM Sotheby’s auctions can be divided into two big families: those with million-dollar cars (Monterey, Phoenix, Amelia Island, Monaco) and the more national-popular ones which back in the day went under the hammer at Auctions America (before the two companies merged). Palm Beach, which was conducted online this year with offers open until expiration, has always belonged to the second category, in fact of the 176 cars sold, 139 (79%) did not exceed the $100,000 mark. With all these reasonably priced opportunities, how could I resist pointing out some good deals? Here are five (and I was about to buy the fifth!).
The first one was a 1967 Maserati Ghibli. The car came with some of the least desirable specifications: a 4.7-litre engine (original, but it was not the 4.9 of the SS), a truly awful three-speed automatic transmission and it was a dull white colour, without even considering the fact that it required a fairly extensive restoration, not of the “destroy the car but keep the plates” kind but one that takes time. It had been owned by a single family since new and the price was just $84,700. I have seen Ghiblis in much worse condition go for higher numbers and, given that a restoration is on the cards, one could perhaps draw on the colour palette of the time to find a more 70s hue.
1967 Maserati Ghibli 4.7 Coupe sold for $84,700
