Porsche Type 64 Leaves Auction Unsold After “That’s $17 Million Not $70 Million” Bidding Blunder

The Porsche Type 64 has failed to sell at auction during Monterey Car Week in what was a truly bizarre auction.

In the lead-up to the sale, the Porsche Type 64 was expected to sell for approximately $20 million but out of nowhere, the event’s emcee announced that bidding would start at $30 million. This monumental figure was published on the media screen at the auction and before long, prices soared to $70 million. Understandably, attendees in the room were left shocked and started to take out their smartphones to film what seemed to be the most expensive car ever sold at a public auction. It wasn’t to be.

Mere seconds after bidding allegedly hit $70 million, the auctioneer claimed that he had meant to say a starting bid of “$13 million” and “$17 million” as opposed to $70 million. Those in attendance started to boo and many left, Bloomberg reports.

Also Watch: Chris Harris Drives The Oldest Porsche In The World, The Spectacular Type 64

Some claim it was a prank gone wrong on the part of RM Sotheby’s to steer headlines away from the fact that dozens of cars featured at auctions during this year’s Monterey Car Week failed to sell in what has been described as an auction “bloodbath.” Speaking to Bloomberg, an RM Sotheby’s spokeswoman said it was a mistake.

“As bidding opened on the Type 64, increments were mistakenly overheard and displayed on the screen, causing unfortunate confusion in the room. The car reached a high bid of $17 million.”

The Porsche Type 64 was shrouded in controversy even before the auction. It was built by Ferdinand Porsche and features a ‘Porsche’ badge and according to some, is the very first car from the German car manufacturer. However, many others, including the man who inspected the car for RM Sotheby’s before the auction, said it isn’t technically a Porsche as most of its parts come from Volkswagen, Fiat, and other niche suppliers.