Rare Porsche on auction

[Pine]

This 550 is listed on Gooding & Co’s Pebble Beach auction, which takes place on 20-21 August. It is expected to fetch between $ 5 000 000 and $ 6 000 000. At the current exhange rate of R 13.69 for $1, it means that they expect (at least) the equivalent of R 68 442 250,00

That is Sixty Eight Million Four Hundred And Forty Two Thousand and Two Hundred and Fifty Rand

What I am missing here?



More pics at http://www.goodingco.com/vehicle/1958-p ... 0a-spyder/

1958 Porsche 550A Spyder
5th Overall at the 1958 24 Hours of Le Mans
Estimate: $5,000,000 - $6,000,000
Chassis: 550A-0145

*Please note that this car is sold on a Bill of Sale.
One of Only 40 Porsche 550A Spyders Built
Class Winner at 1000 Km Nürburgring and 2nd in Class and 5th Overall at 24 Hours of Le Mans
Porsche Works Entrant in 1958 with Owner/Driver Carel Godin de Beaufort
Believed to be the Only 550A to Compete in a Grand Prix
Driven in 10 Mille Miglia Retrospectives

1,498 CC DOHC Flat 4-Cylinder Engine
Twin Solex 40 PII-4 Carburetors
135 BHP at 7,200 RPM
4-Speed Manual Transaxle
4-Wheel Hydraulic Drum Brakes
Fully Independent Torsion Bar Suspension with Trailing Arms and Shock Absorbers

[Madbones]

Cash flow and a big bank balance

[Harry Jones]

.... wasn't sold, however the auction did net a total of $129 789 750 (Just short of $130 million )
the top seller was a 1959 Ferrari 250 GT LWB California Spider Comp ... $18 150 00

[Pine]

This one went for £4,593,000 this weekend. That is R 86 885134,40 (yes, almost EIGHTY-SIX MILLION RAND) at today's exchange rate of R 18,92 for one Pound

A 1956 Porsche 550 Spyder has become the most expensive of its type to ever be sold at public auction as bidding topped £4,500,000 at Bonhams’ Goodwood Revival event on 10 September.



“The top lot of the auction is an icon of 1950s sports car design, the gloriously original 1956 Porsche 550 Spyder,” said Bonhams’ James Knight. “The car attracted much attention from bidders, with increments rising by hundreds of thousands until the gavel finally fell to achieve £4,593,000.



His thoughts were echoed by Mark Osbourne: “The car is so original that you could travel back in time 60 years and find it in much the same condition. It’s exactly how a 550 would have looked, smelt and felt when James Dean famously purchased his example – Lil’ Bastard – back in 1955.”

“Chassis number 550 0090 hasn’t been thrashed around, it’s been well looked-after, and even won the FIVA award for originality at the Pebble Beach Concours d’Elegance in 2010 – the perfect Porsche. A real timewarp, and likely the last one left in such excellent, original condition.”

A 1950 Frazer-Nash Le Mans Replica once campaigned by racing great Roy Salvadori also caused a stir in the sale room, fetching an impressive £610,000.

It was followed by a 1967 Aston Martin DB6 Vantage, which proved the subject of frantic bidding that resulted in an above estimate sale price of £455,100.

Also beating its pre-sale estimate was a 1971 Ferrari 246GT Berlinetta, which fetched £299,420.

A 1962 Jaguar E-type Series I ‘Flat Floor’ 3.8 sold for £253,000.

A 1928 Bentley 6 1/2 8-Litre Sports fetched £406,940.

Meanwhile, a 1965 Ferrari 275GT Berlinetta got away for £1,500,000.