Are there deals buying bank-seized cars?

The upcoming Henderson Auctions Motor Series sale at Barber Vintage Motorsports Museum in a few weeks features a number of cars seized by a bank including this 2011 911 Speedster among other Porsches.

A decade ago, buying cars seized by the government or a bank resulted in a below-market buy for those willing to take a shot. But how has the online auction phenomenon affected these sales in recent times?

One of the most high-profile seizure sales that comes to mind is the collection of Scott Tucker, loan shark turned IMSA racer whose Carrera GT and 911 GT2 RS were auctioned off in February of 2020 to much fanfare.

This sale was held live at the Circuit of The Americas with the preview held the night before at Ferrari of Austin. I’m sure the champagne flowed and prawns were plentiful at both events as BOTH cars sold above estimates.

The Carrera GT only slightly bested its estimate of $650,000 selling for $690,000. And the GT2 RS? Soared above its estimate by almost $100k hammering down at $470,000.

Maybe it was the booze, maybe it was the notoriety and marketing efforts by the U.S. Treasury. Or maybe the Carrera GT buyer had a time machine or a look into future values.

I’m not sure we’ll see $100k over for this 2011 Speedster but I for one will be watching.

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