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916 The 001 (of 202) Foggy Rep

Discussion in '748 / 916 / 996 / 998' started by Nick_996, Jun 14, 2023.

  1. Out of 55 originally made (if I remember correctly), I wonder if there still is a chance that there’s a zero mile one left, out there…
     
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  2. I know of 1 here in the US but that's it, I've never heard of another. It still amazes me what comes out of the woodwork that's been stashed away so I always will err on the side that there is vs not just to hedge my bets lol :D
     
  3. I remember a post on the old ducatisti.co.uk forum where a guy found one almost abandoned in a barn! Bought it and posted his restoration of it...
     
    #43 The Royal Maharaja, Jul 30, 2023
    Last edited: Jul 30, 2023
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  4. I'm actually surprised it went for that much...
     
  5. In the sense that you were expecting to see it sell for more £ or less £?
     
  6. The first production run of the Fogarty Replica in 1998 included 202 numbered examples, 200 of which were made available and sold to the UK market. No. #001 was kept for display in the factory museum in Bologna until 2011 (when it was sold), whilst #002 went to Fogarty himself. Whilst it is considered by most as one of the most exclusive models Ducati ever produced, I find that it will always mean more to buyers with a UK connection. Afterall, the model itself was commissioned by Ducati’s influential UK distributor at the time, being Moto Cinelli (which later evolved into Ducati UK).

    On 24th April,2011, no. #002, recorded as road prepped in the Foggy Petronas WSB team workshop, was auctioned off by Bonhams for GBP 27,6k bearing at the time some 26 miles (some of which were amassed by Fogarty's single demonstration lap of the Ulster Grand Prix circuit in August 2009). Apart from Ducati factory's Certificato di Authenticita plaque, #002 was accompanied by a further plaque, signed by Massimo Bordi and Federico Minoli, stating that it was awarded to Fogarty "In recognition of your outstanding contribution to the success of Ducati".

    This #001 came with the most solid provenance ever: it was the factory’s showpiece (at least up to 2011). An undisputed warranty of being a truly genuine, new-old-stock and never ridden example. The fact that the racing livery is only affixed on the left-side panels of #001 (since the right side of the bike was not as visible to the public in showroom) adds a further Italian element to it. The auction house itself did its best to get the listing out there, as well as to invite the proper interest; all that at the peak of the summer season (high season for bike sales). The fact that the original auction date was also moved to a later date undoubtedly added to #001’s listing drama.

    In terms of material parameters, the #001 was listed in market conditions as developed by (post) Covid and Brexit, where premium and exclusive items set, and reportedly sell for, record values. Even private wealth & investment advisors nowadays advocate in favour of classic cars and bikes for portfolio diversification. The availability of bikes of the 748/916/996/998 series in UK/Europe, and even their smaller segment of limited productions runs (SP/SPS/R), is now scarce whilst on the other hand the demand remains arguably high (again in the UK/European market).

    With this ideal package and all the little stars aligned on Sunday’s auction, the #001 fetched GBP 60k. The hammer dropped far from the auction’s house bullish (GBP 80k), in as much as bearish (GBP70k), catalogued and expected estimates. The opening bid itself for the #001 was GBP 45k, when listed low mileage used examples in the UK market today are retailing at the dealers at GBP 38k.

    What does this development have to say for price expectations on other new-old-stock examples of the 748/916/996/998 series that might exist (arguably with less flamboyant provenance), as well as for the price aspirations on used examples of limited production runs for the same series?
     
    #47 Nick_996, Jul 31, 2023
    Last edited: Jul 31, 2023
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