A one-of-a-kind 2022 Bugatti Chiron Profilée led the way of money generated from a RM Sotheby’s auction in Paris – 9,792,500 Euros, or $10,548,089 USD, the most valuable new car ever sold at auction.
And with 49,802,080 Euros ($53,644,808 USD) total, that was the biggest ever Paris sale for Rm Sotheby’s. Thirteen cars sold for more than 1,000,000 Euros ($1,077,160 USD). The Bugatti Chiron Profilée is a single, bespoke-engineered, version of Bugatti’s acclaimed Chiron hyper sports car. It’s the first and only “pre-series” Chiron Profilée produced.
It is also the last Bugatti to be sold with the iconic W-16 quad-turbo engine by Bugatti Automobiles S.A.S. A 2003 Ferrari Enzo went for the second highest amount – 4,055,000 Euros, or $4,367,883 USD. A portion of the proceeds will be donated to charity.
RE/MAX: Canadian housing market risk low
Interest rate hikes served to destabilize most major Canadian housing markets beginning in 2022, however a new report from RE/MAX Canada reveals that homeowners are well-positioned to ride out the coming storm in large part due to lower loan-to-value ratios on new mortgages.
The RE/MAX 2023 Canada Housing Barometer Report examined average price and new mortgage values published by CMHC-Equifax Canada in 12 major markets from British Columbia to New Brunswick. They compared loan-to-value (LTV) ratios between Q3 2012 and Q3 2022.
The report found that LTV ratios had declined in 67 per cent of markets (eight) over the past decade, with the greatest drops noted in London and Moncton (21 per cent), Halifax (15 per cent), Hamilton (14 per cent), Toronto (10 per cent) and Ottawa-Gatineau (nine per cent).
Four markets, including Calgary, Edmonton, Saskatoon, and Regina, were up over 2012 levels, a trend that is set to reverse in the years ahead as Alberta and Saskatchewan’s economic engines gain momentum and drive home-buying activity. The lowest loan-to-value ratios were found in the most expensive markets, including Vancouver (50 per cent), Toronto (53 per cent), and Hamilton (54 per cent) while the highest loan-to-value ratios were found in Regina (88 per cent) and Edmonton (83 per cent). Nationally, loan-to-value ratios hovered at 57 per cent.
Omega launches first new watch of 2023
Omega has launched their first new watch of the year – the Speedmaster Super racing, the first to include their Spirate System. That includes a revolutionary new patent-pending spiral that allows for ultra-fine rate adjustments.
Racing-style minute track and black ceramic bezel ring circle the dial, bold new yellow “grand feu” enamel on the tachymeter scale, used as well on the gradient chronograph hand and striped small seconds hand at 9 o’clock are some of the other features. The watch is power by Omega’s Co-Axial Master Chronometer 9920 and is priced at $15,000 CAD ($11,150 USD).
News and notes
- The world’s biggest luxury group has reported strong sales driven by the holiday shopping season.
- Another luxury brand bails on Putin’s Russia.
- U.S. sending money seized from Russian oligarchs to aid Ukraine.
- London still has some work to do to clamp down on Russian oligarchs, criminals and kleptocrats.
- Ferrari’s profit jumps 13 per cent in 2022.
- Baccarat Hotel Dubai set to open its doors in 2026. The hotel is part of a new ultra-luxury mixed-use development in Downtown Dubai. Details here.
Baccarat Hotel Dubai