As many of you know we have been reporting and supporting the auction of “The Riva” as it shall now be named… This boat was and is one of the more exciting boats out there. It had stolen the show at Mt Dora …twice… And this weekend stole the show at the Mecum auction. What was surprising is that the auction was all muscle cars… Right there, smack in the middle of 69 Camaro’s and a ton of Corvettes and a euro trash Mercedes…comes up this Italian masterpiece of mahogany. When the gavel dropped at $775,000 (plus a nice fee we are talking in the $850,000 range)… for a classic boat….. You could have head a bronze pin drop in every garage and barn in the world. Jaws dropped with spitting out saw dust… The deal was done and we are now in the new world of Antique & Classic Boats becoming serious investment art. Fellow Woody Boater Scott Ales and Dan Mecum of Mecum Auctions have stuck the stake in the ground. You won’t be able to buy or sell a classic boat anymore without hearing about “the Riva” that sold for $775,000… Is this bad for the hobby? It doesn’t matter anymore. It’s life….. We have all known this would happen….. and now it has. You can bitch all you want about the good old days and your $100.00 back yard find… but that is the way things go…
I recall the first time a million bucks was spent on a car. As my fuzzy memory goes it was a Bugatti sold to the owner of Domino’s… And like domino’s fall, so has the gavel on many million dollar cars since then…yes.. $7 Million is now the record… Now… the gavel…eBay, Barret Jackson and Mecum auctions are changing the hobby of cars, it’s now entertainment… We watch and if we like… we become part of the show. Is this bad for the hobby? It doesn’t matter anymore… You can sit there watching at the world of $100.000 T Birds go by…and complain… But you are watching… And those eyeballs lead to revenue from marketers and so on… It’s only natural that Antique & Classic boats join in the fun.
I predict that we will see the world of speed boats explode on the scene. Here is why… This year at the auctions. Resto mods are all the rage. That’s classic cars that are fixed up so they actually be driven… What that tells me is that folks are tiring of just looking at there cars. They want to actually drive and enjoy them… That tells me that they are now getting board of things. They want more… and it does not take a rocket scientist to look at classic boats. They are all about fun… They are all about flooring it, no muffler and ripping through the water as fast as you can. They are all about feeling the freedom you felt as a kid… They are all about all things you actually buy a classic car for… They are the future. Thanks to Scott and Dana Mecum for starting out the spring with a fresh blast of hope. 
Here are shots of Scott’s 1966 Riva Aquarama at the auction…
Just remember, as the values increase so does the justification to restore them! This is the only way to preserve our treasures. Think of it this way, do you have any idea how many Chrysler Hemis came out of the barns and garages in the last 10 years to be restored? If the market had not been driven up many of them would have been scrapped when you could get $300 a ton a few years back.
Is the Riva varnished or clear coated? Looks like a catalyzed finish.