3x8 brethren: all Ferrari models have just been 'old cars' at some time

Ahhhhhhhhhh, no... they killed the Ferrari.

 

great post!

 

Correct, you used to be able to buy 250 GTOs and Daytonas, etc. for ~$8-$12K in the early and middle 1970's, About 1975, the market and prices started picking up.

I couldn't even come close to affording that much money back then, but I followed the market and wished I was older and had a job.

Doug

 

This is exactly what I was thinking in reading the other thread about the '84 308 QV that is now down to $17K...someone could buy that, stash it somewhere without fixing a thing, and sell the rusting hulk in the future to someone in search of a complete candidate for a ground up restoration. Hey, there was a time when no one thought the 6-cylinder Dino 246 GTS would be collectible or worth restoring!

 

This has to be an American movie. They always have tyres squealing and screeching on dirt roads.

Great post Tillman.

 

But a house also cost that and few people made that much in a year. Compare that with today when a used Ferrari in good shape is a 1/10 the cost of a house or a few months average Federal salary.

 

Correct, you used to be able to buy 250 GTOs and Daytonas, etc. for ~$8-$12K in the early and middle 1970's, About 1975, the market and prices started picking up.

I couldn't even come close to affording that much money back then, but I followed the market and wished I was older and had a job.
Doug

Yes, that's the part people always forget. I nearly bought an immaculate 1973 Dino 246GTS (in 1976) for about £5k but decided that was too extravagant and bought a 1973 Alfa Spider for £3k instead. I've often regretted the decision, but consoled myself by calculating that, had I kept it, it would have cost me about the same in servicing, repairs, running costs as the difference in price now - and "my" car would have done far more miles than any of the Dinos for sale now (hmm!)

What I have done for many years is to relate the cost to annual salary - the Dino then was 2 x my annual salary, a good Dino now is still 2 x my annual salary!

 

Close but not quite.

Average house was about $25K in 1971, about $32K in 1975; middle manager salaries were in the $20-$30K range in 1975. A 308 may be a few months federal salary, but no other fcar is today.

$10K houses disappeared in the early 1960's

Doug

 

I've met a person, ex-Peugeot dealer in France, who refused to exchange a new Peugeot 304 (or similar) back in the 70's for a 250 GTO old racer....

 

It's madness! 250s being crushed because the cost of a valve job was greater than the value of the car. The 308s and Boxers must have been viewed as astronomical prices back then. $35k and $70k. wow. interesting times indeed