Daytona Prices | FerrariChat

Daytona Prices

Discussion in 'Vintage Ferrari Market' started by rob lay, Oct 14, 2010.

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  1. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner Social Subscribed

    Dec 1, 2000
    63,971
    Southlake, TX
    Full Name:
    Rob Lay
    as of today I am a Have Not verse a Have, but I watch the market closely because I want to switch teams. not putting down any of the owners or being a hater, most owners shouldn't be in their car for the value anyway. that said I have finally started seeing some downward pressure on the prices last 6 months.

    downward pressure seemed to hit the late market Ferraris first while the vintage cars stayed strong for whatever reasons (low supply from reluctant suppliers verse low demand I believe). you then started seeing some price pressure on the BB's, 2+2's, and now it seems like the Daytona’s are getting some less reluctant sellers. Still haven't seen huge drops in the $300k + cars. Are they next?

    I still think some factor in collectible car pricing is how investment alternatives are doing and I think as the equity and real estate markets become more attractive there will be more pressure on sellers and a few less buyers. I don't expect to see 2003 pricing, but for my budget I would love to see $190k Daytona’s and $90k GTEs. I think $350k Daytonas, $175k GTE's, and $700k Lussos was bubbling a little.
     
  2. BIGHORN

    BIGHORN In Memoriam

    Sep 18, 2006
    733
    FLORIDA/NEW MEXICO
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    JOHN F KELLY
    Hi Rob,

    The only thing in your post that I agree with is the you shouldent buy cars for value.
     
  3. rob lay

    rob lay Administrator
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    Dec 1, 2000
    63,971
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    Rob Lay
  4. billnoon

    billnoon Formula 3
    BANNED

    Aug 22, 2003
    1,176
    La Jolla, California
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    Bill Noon
    I Rob,

    I have sold three lately. All nice Coupes. You can still buy Daytonas for under $200K. I do not think the cars you get for this price would make you happy or even get you down the road safely. At this level, expect to make some really heavy compromises on condition, rust, accident damage etc...

    At $200K to $225K, you should get a car that will get you down the road but compromises will likely consist of minor to major things like, no tools, no books, deferred maintenance, body panel issues, rust, accident damage etc...

    From $225K to $250K expect to get a great driving car with minor cosmetics or some minor missing bits and pieces or a former or current show car with no sorting set up time and its own minor issues.

    Above $250K you should be making no compromises. You should get a platinum or near platinum level car with some miles since the award was given or won. Red is no longer the preferred color of the moment. Period cool colors and conservative colors like silver, gray, blue are pulling premiums.

    From $275K on up, car should have zero issues, cool colors, books, records and tools. As always, getting car at this price and condition while more expensive than that sub $200K rat trap is the better bargain no matter how you slice it!

    I could be wrong... but then the guys who bought my last three would also have been wrong to pay what they did. In my book actual sales are the only measure of a real market at any given time.

    Cheers,

    Bill
     
  5. shaughnessy

    shaughnessy Formula 3
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    Apr 1, 2004
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    Thomas E Shaughnessy
    You get what you pay for!

    Best price, isn't necessarily best value!
     
  6. Nurburgringer

    Nurburgringer F1 World Champ

    Jan 3, 2009
    11,184
    Texass
  7. billnoon

    billnoon Formula 3
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    Aug 22, 2003
    1,176
    La Jolla, California
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    Bill Noon
    Hi Rob, something does not look right about the add for the yellow Daytona.

    The description states it has a 7.5-liter, 8-cylinder engine and 6-speed gearbox. The photos make it appear to be a mostly stock Daytona with the normal 4.4-liter engine and 5-speed transaxle.

    If the car is proper, zero issues, books records, tools original colors etc... then the price is fair. I would not suggest buying without really having it checked out top to bottom first.

    Cheers,

    Bill
     
  8. rob lay

    rob lay Administrator
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    Dec 1, 2000
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    Thanks Bill and others, sounds spot on as usual.
     
  9. El Wayne

    El Wayne F1 World Champ
    Staff Member Lifetime Rossa Owner

    Aug 1, 2002
    18,069
    San Marino, CA
    Full Name:
    L. Wayne Ausbrooks
    Bill, the car is s/n 13987, as discussed here: http://www.ferrarichat.com/forum/showthread.php?t=298887

    The vendor is a factory franchised Ferrari dealer and a sponsor on this site. I have seen this car in person (although this was a few years ago) and it has its original running gear. The misinformation on their website is obviously an input error.
     
  10. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    22,596
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    Jon
    Confirms what I had thought. The Daytona looks incredible in those colors.

    The blue one at Bobileff is on my dream car list.
     
  11. readplays

    readplays F1 Rookie

    Aug 22, 2008
    2,614
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    Dave Powers
    Tom,

    I of course agree with you and Bill Noon on this, but I would add to your, "You get what you pay for!", with the following caveat: IF you're lucky! (Caveat Emptor, do your research, hire an expert, etc.).

    Best,
    Dave
     
  12. msdesignltd

    msdesignltd Two Time F1 World Champ
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    Nov 17, 2003
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    #12 msdesignltd, Oct 14, 2010
    Last edited: Oct 14, 2010
  13. westextifosi

    westextifosi Formula Junior
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    Oct 20, 2009
    274
    Lubbock, TX
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    Tex Timberlake
    I was in Gary's place last week and can confirm that the blue car is gorgeous. It is also now sold.
     
  14. of2worlds

    of2worlds F1 World Champ
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    Apr 6, 2004
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    CH
    While the coupe has been mentioned as trending down in price I think condition plays a bigger role in price. Relatively small volume of sales can make trends unclear. However the Daytona Spyder also seems to be dropping a bit in price. This is especially true when you compare the price to what the earlier 275 GTB 4 cam cars are trading for. Both of these cars in the past were at a similar price point but now the 275 is pulling away. Something that would otherwise go against the trend as convertible Ferrari models are very popular. The spyder trades for about triple what the coupe sells for, approximately.
    CH
     
  15. garybobileff

    garybobileff Formula 3
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    Feb 5, 2004
    1,180
    San Diego CA
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    Gary
    Hello all,
    The blue car# 14867, that I restored was for sale, asking $389,000.00. It recently sold, and will stay here in the States, . It sold for slightly under the asking price. Fresh cars bring strong money, because savvy buyers know it will cost them much more to find a doaner car, and have it restored, and that doesn't mention anything about tying up the capitol for a year or two, or more, while the restoration is taking place.
    Gary Bobileff
     
  16. naparsei

    naparsei Formula Junior

    Oct 11, 2005
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    Land of Enchantment
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    Alex
    Not to mention the value of being able to drive it today, vs. waiting 2 years. At least in my case, this is increasingly valuable, and will get more valuable the older I get.
     
  17. rob lay

    rob lay Administrator
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    Dec 1, 2000
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    We all know there are a few different types of “restorations”. You aren’t going to make money on a Bob Smith restoration where Day #1 after a 3 year wait you go down to Gainsville Bank and open up a checking account in both of your names with a starting 6 digit balance. If you can buy a car after that type of restoration you end up ahead. I think there are other “restorations” being done that might try to ask for that kind of price, but if a shop buys the car, restores it, and then sells it then how in the heck could it be to that level if they need to make a buck? Someone has to take a ding because we all know a restoration doesn’t pay back dollar for dollar, so if the previous owner took the ding it is straight forward. I would be suspicious of any shop doing a restoration on their own dime unless you can convince me that since not taking a profit on the restoration they can still do a 100% quality job less than the bump they add to the sales price. Bob Smith obviously makes his profit in the restoration because it’s not his car. Not busting the chops of the shops, just trying to understand better.
     
  18. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
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    Jim Glickenhaus
    #18 Napolis, Oct 15, 2010
    Last edited by a moderator: Sep 7, 2017
    It's much cheaper to buy a properly restored car than to pay for a restoration.

    I've restored cars that made no economic sense to restore but as I never plan to sell them it's a non issue to me.

    IMO the one to buy and restore is a Fiat Dino Spyder. Cool looking, fun to drive, and you can be all in for 100K totally restored. Perfect car to give your Daughter when the time comes which is what I've done with mine.
    Image Unavailable, Please Login
     
  19. BIGHORN

    BIGHORN In Memoriam

    Sep 18, 2006
    733
    FLORIDA/NEW MEXICO
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    JOHN F KELLY
    Forget the daughter. I wouldent mind driving one of those myself!
     
  20. Cobraownr

    Cobraownr Formula Junior
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    Feb 6, 2008
    944
    Edgewater, MD
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    Donald Silawsky
    Interesting comparison in trends between Daytona prices and 365 GTCs. While conclusions always have to be asterisked because of very small sample sizes, 365 GTCs seem to be moving upwards. 12271 sold at the Gooding Monterey auction for $262,500 all up (I think), F40 is asking $285,000 for 11989, and Karam in PA is asking $319,000 for 12407.
     
  21. naparsei

    naparsei Formula Junior

    Oct 11, 2005
    299
    Land of Enchantment
    Full Name:
    Alex
    Rob,
    I've driven both, and I prefer the 365GTC. I understand why someone would want a Daytona, but I think 365GTCs are $300K cars (at least I so ;) ). Price parity between a Daytona coupe and a 365GTC makes sense to me.
    YMMV,
    Alex
     
  22. spike308

    spike308 F1 Rookie
    Owner Silver Subscribed

    Nov 8, 2003
    4,714
    Austin TX!
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    Mike Z
    I was just there the other day.
    Didn't examine the car with a microscope, but seemed like a nice car.
    I could swear the guy told me it was $220-240K (cant remember which, there was a silver daytona there too)
     
  23. regaliaconcours

    regaliaconcours Formula Junior

    Jul 6, 2006
    310
    Sun Valley
    Full Name:
    MICHAEL REGALIA
    + 100
     
  24. Senna1994

    Senna1994 F1 World Champ

    Nov 11, 2003
    13,192
    Orange County
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    Anthony T
    Rob, that car I believe was at one point for sale at Family Classics, out here in San Juan Capistrano a few years ago. PM me as I had a friend that worked there, if you need to know anything about it.
     
  25. toparkt

    toparkt Formula Junior
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    Oct 20, 2006
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    orange county
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    Andrew Goetz
    that is very true !! As important as the car will be the
    people you deal with !!!!!!
    DO HOMEWORK AND CHECK , CHECK AND RECHECK
     

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