Luxury sports car under the hammer Ferrari, millions, discretion - what's behind the most exclusive auction in Zurich

A Ferrari rarity, silent bidders and the art of anonymity: an auction is taking place in Zurich where not only the price is high, but also the demand for discretion - a look behind the scenes of the luxury market.

Probably the most breathtaking auction Zurich has ever seen will take place on Saturday at the Dolder Grand. The cars that will be auctioned will make the heart of every car lover beat faster. Sotheby's is auctioning off a collection of 42 luxury cars in Zurich under the title "The Tailored for Speed Collection". A sensation for motorsport fans, because one of the most outstanding vehicles - and sometimes also the most expensive - is a Ferrari 333 SP (built in 1998). There are only 40 of them in the world. Cost: 4.5 to 5 million francs.

The owner of the collection is unknown. And that is intentional. It is rumored in dealer circles that it could be the collection of a French racing driver and businesswoman. However, this has not been officially confirmed.

The same circles say: "Discretion is required with such a rarity." But why actually? A luxury car dealer and an auction house owner provide an insight.

From 500,000 francs it becomes more anonymous

Discretion plays a key role in the exclusive car trade. Christian Wenger, Managing Director of Caldara AG, knows the fine line between prestige and privacy: "There are several factors why people prefer to remain unrecognized," says the car dealer. "Customers think carefully about where they buy their car. Relationships and serious trust play a major role here." Discretion helps, because there are dealers who are less discreet. "Customers want someone who approaches them with confidence and without any fuss," says Wenger, who doesn't want to give the impression that it's all about making money, but rather that the relationship between dealer and customer is paramount.

Especially in the luxury segment, the more expensive the vehicle, the quieter the trade. "Anonymity changes depending on the price threshold," explains Wenger. "For vehicles over 500,000 francs, it is generally more discreet than for a car that costs 250,000 francs, for example."

"They don't want to struggle with conversations"

Many buyers deliberately prefer anonymity. "They don't want to bother with conversations and usually leave that to the dealer." According to Wenger, most of them want to be left in peace after buying or selling a car. Companies also appreciate this protection: "There are companies that welcome anonymity," says Wenger.

It also makes you vulnerable. Wenger gives an example: "At the auction on Saturday, people don't just admire the cars, they also talk. One or two people are quick to ask whether the owner needs money because he is now selling his collection." The image is important to customers. Wenger also gives an example here: "If a company owner who has just had to lay off an employee buys one of these cars worth millions, it doesn't go down well with the workforce." By remaining anonymous, he protects his company. This could also be the case at the auction on Saturday.

However, it is important that the dealers know the personal details of the buyer and the seller. This creates transparency for the administration. "If a transaction is carried out anonymously, this does not mean that there is anything wrong with it," says Wenger. In fact, the opposite is usually the case. If a transaction becomes public, rumors are spread in all directions.

The same applies to the auction business

This is also confirmed by someone who has been in the auction business for over 30 years. An expert who runs an auction house, who does not wish to be named, emphasizes in conversation that discretion is key in the auction business - for both sellers and buyers. However, he clarifies: 'As a basis, you need to know that everyone who delivers something to the auction has to identify themselves. Then there is a contract between the auction house and the seller. He confirms that the item belongs to him and that there is no third-party interest. The auction house always knows who is behind the items.

There is also transparency towards the auction house on the bidder side. Bidders have to register - with their name, address and passport, explains the expert. Everyone who bids has to do this. This information is carefully stored in order to be legally protected in the event of a dispute. The buyer usually pays by bank transfer. If he wants to pay in cash, this must also be checked.

Privacy protects customers

But the question remains as to why auctions appear so anonymous. The auction house owner explains that the business is really only a matter for the auction house, the seller and the buyer. Publishing the names of heirs, for example, would be an invasion of privacy. As an auction house, we have two important tasks - to protect privacy and to ensure the transparency of conditions. And, apart from that, when a certain amount of money is involved, you don't like to be in the public eye.

Even when it comes to sensitive issues such as stolen works of art or restitution of Jewish property, we act strictly according to the rules: All objects to be auctioned would be sent to the Art Loss Register - the database for stolen objects. Restitutions of Jewish objects that have been inherited must also be checked by the auction house.

The auction business attaches great importance to transparency between the sellers and the auction house. Even in a difficult case, privacy can be protected in this way.