WHY ONE CAR DID NOT SELL IN THE JERRY SEINFELD AUCTION


Publish date: 2016-03-15 17:01:01
1974 Porsche 911 Carrera 3.0 IROC RSR

The auction of Jerry Seinfeld’s Porsches and Volkswagen maybe out of our league. After all of his vehicles, save one, went under the hammer during the Gooding & Company’s East Coast auction last Friday we can say with conviction that the total profit earned by Seinfeld may perhaps be more than anything that we can pull off together.  Selling for an astounding amount of just over $22.2 million for all 17 vehicles (consisted of the 15 Porsche and 2 Volkswagen), the final sale was just around $10 million short of the maximum estimate of $32,555,000 prior to the auction. Either way around, our guess is that Seinfeld ends up being a happy man.

The one car that failed to hit the auction block, not because of some defect whatsoever, is a non-drivable 2000 Porsche Carrera GT Prototype. As it seems, having a seal of Seinfeld’s ownership doesn’t guarantee that it will sell. But this one was decided upon by the comedian to be kept in the stables for a little bit longer. It turns out that this Porsche is one of just two Carrera GT prototypes ever built. The auction estimates were between $1.5 million to over $2.2 million for the car.

1974 Porsche 911 Carrera 3.0

1974 Porsche 911 Carrera 3.0 IROC RSR

1960 Volkswagen Beetle

1960 Volkswagen Beetle

The most noticeable among Seinfeld’s fleet based on estimated high values were his 1974 Porsche 911 Carrera 3.0 IROC RSR that went under the hammer with an impressive final bid of more than $2.3 million, greater than $1.2 to $1.5 million based from the original estimates. Next was his 1960 Volkswagen Beetle whose estimated maximum value was at $55,000 but eventually ended up hitting a final sale of $121,000.

1959 Porsche 718 RSK

1959 Porsche 718 RSK 

1973 Porsche 917/30 Can-Am Spyder

1973 Porsche 917/30 Can-Am Spyder

There was also a list of undersellers as well which is, quite frankly, a long one. Seinfeld’s 1958 Porsche 356 A 1500 GS/GT Carrera Speedster sold for just over $1.5 million where sales values were estimated at a high of between $2 million to $2.5 million. Same goes to his 1959 Porsche 718 RSK which were also sold for far less than expected. But the biggest loser of them all is the 1973 Porsche 917/30 Can-Am Spyder selling only at $3 million in spite of its low estimate of $5 million, and $4 million short of its maximum estimated value. Another car also went into auction during that day, though not necessarily belonging to Seinfeld. A 1995 Ferrari F50 also went under the hammer with a final bid of $2.3 million.

Here’s a complete list of his cars’ auction results as tallied by Gooding and Company:

  • 1990 Porsche 962C – Estimate: $1,500,000 – $2,000,000; SOLD at $1,650,000
  • 1966 Porsche 911 – Estimate: $200,000 – $300,000; SOLD at $275,000
  • 2011 Porsche 997 Speedster – Estimate: $300,000 – $400,000; SOLD at $440,000
  • 2012 Porsche 997 GT3 Cup 4.0 Brumos Commemorative Edition – Estimate: $300,000 – $500,000; SOLD at $462,000
  • 1997 Porsche 993 Cup 3.8 RSR – Estimate: $1,200,000 – $1,500,000; SOLD at $935,000
  • 1958 Porsche 356 A 1500 GS/GT Carrera Speedster – Estimate: $2,000,000 – $2,500,000; SOLD at $1,540,000
  • 1994 Porsche 964 Turbo 3.6 S Flachbau – Estimate: $1,000,000 – $1,300,000; SOLD at $1,017,500
  • 1973 Porsche 917/30 Can-Am Spyder – Estimate: $5,000,000 – $7,000,000; SOLD at $3,000,000
  • 1958 Porsche 597 Jagdwagen – Estimate: 350,000 – $425,000; SOLD at $330,000
  • 1963 Porsche 356 B 2000 GS/GT Carrera 2 Coupe – Estimate: $1,100,000 – $1,400,000; SOLD at $825,000
  • 1974 Porsche 911 Carrera 3.0 IROC RSR – Estimate: $1,200,000 – $1,500,000; SOLD at $2,310,000
  • 1959 Porsche 718 RSK – Estimate: $3,800,000 – $4,200,000; SOLD at $2,860,000
  • 1989 Porsche 911 Carrera Speedster – Estimate: $250,000 – $325,000; SOLD at $363,000
  • 1957 Porsche 356 A Speedster – Estimate: $500,000 – $600,000; SOLD at $682,000
  • 1955 Porsche 550 Spyder – Estimate: $5,000,000 – $6,000,000; SOLD at $5,335,000
  • 1960 Volkswagen Beetle – Estimate: $35,000 – $55,000; SOLD at $121,000
  • 1964 Volkswagen Camper – Estimate: $80,000 – $100,000; SOLD at $99,000

In case most of us are wondering why Jerry Seinfeld will auction so many of his cars in the first place, the gear head comedian simply pointed out that “it’s time to send some of them back into the world” for someone to enjoy them as much as he has. For someone who has enough cash to burn to afford sending this multi-million dollars worth of vehicles back into the world, it’s kind of really nice for Seinfeld to do – even if it means that the guys who managed to get them gave him less for what he expected.

Reference:

http://jalopnik.com/jerry-seinfeld-puts-18-of-his-rare-cars-up-for-auction-1764521470

Photo reference:

http://files.goodingco.com/content/vehicles/9299/images/20160119_213550_baebb2/1280.jpg?11

http://files.goodingco.com/content/vehicles/9299/images/20160212_014932_cde695/1280.jpg?11

http://files.goodingco.com/content/vehicles/9366/images/20160212_000400_aefcb9/1280.jpg?11

http://files.goodingco.com/content/vehicles/9379/images/20160212_015947_4918ad/1280.jpg?11

http://files.goodingco.com/content/vehicles/9378/images/20160212_000818_7b7aba/1280.jpg?11

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