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330 GTC MARKET VALUE

Discussion in 'Vintage Ferrari Market' started by geno berns, Feb 8, 2013.

  1. azfast1

    azfast1 Karting

    Jan 10, 2004
    196
    we had a $20K to $30K budget to correct the color, trim, suspension, glass, chrome, etc. but a motor can eat up $50k pretty quick if it turns to be a major rebuild. The problem was it was advertised as driver quality paint, which it was, but nice mechanically which it was not!
    The dealer was nice to refund the money, but offered to cover transportation cost when I was there, which he did not do. I own the restoration shop, which has restored everything from 250 GTO's to the record setting Gulf Mirage GT40 that recently sold for 11 million in Monterey. I kind of know what is involved and the cost to do so.
     
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  3. azfast1

    azfast1 Karting

    Jan 10, 2004
    196
    Kudos to Gullwing !
     
  4. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
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    Yes I agree, one can spend $50-$75K for a full comprehensive engine rebuild at high end shops. I also understand costs and the quality of work vary from shop to shop. Usually you get what you paid for. At the same time there are a few well known shops out there that strictly do mechanical work on European cars, specifically on Ferrari engines, where the cost will be $25-$32K max. RPM, MotorKraft etc...This would include all new parts, bench tested and delivered. It sounds like the GTC you describe and the owner's expectations warranted a full blown restoration. That can be quite costly and quickly can make what seemed like a well priced car an upside down situation. I am glad the seller refunded the proceeds and probably should of also refunded the shipping costs. If prices remain high or get higher for GTCs, IMO this car will seem like a bargain.
    BTW what shop do you own?

    Geno

     
  5. azfast1

    azfast1 Karting

    Jan 10, 2004
    196
    you can see us either on Facebook at The Finishing Touch Body Shop, or www.finishingtouchaz.com.
    Sooner or later everything will seem like a bargain. It was not that long ago I sold my 330 GTC for less than $100k!
     
  6. redmagma1

    redmagma1 Rookie

    Jan 23, 2013
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    Shervin
    1969 ferrari 365 GTC just sold at the Gooding Auction at Amelia island for $975000 plus 10% commission for a total of $1072000.00

    330gtc and 365gtc welcome to the MILLION CLUB
     
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  8. barchetta

    barchetta Formula Junior
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    Nov 5, 2003
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    I think you meant $1,072,500.
     
  9. JazzyO

    JazzyO F1 World Champ

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    Onno
    Wow, amazing.


    Onno
     
  10. peterp

    peterp F1 Veteran

    Aug 31, 2002
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    Resale red didn't seem to hurt it too much
     
  11. greg246

    greg246 F1 World Champ
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    Jun 2, 2004
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    So how much influence has this thread had in talking the prices up? Can we move onto how good a buy 365GTC/4s are now? :)
     
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  13. Cobraownr

    Cobraownr Formula Junior
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    #110 Cobraownr, Mar 8, 2013
    Last edited: Mar 8, 2013
    The Gooding 365 GTC was kind of a one-off special with a unique (ahem), pinkish-red exterior and suede interior. It also had a famous first owner, Woolworth heiress Barbara Hutton. I think these factors gave the car a decent bump above the current 365 GTC market.
     
  14. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
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    #111 geno berns, Mar 8, 2013
    Last edited: Mar 8, 2013
    Don,

    Come on now, pink car, swade interior, some lady by the name of Hutton owned it and all of a sudden Mcqueen numbers? Don't sell your 365 GTC short. They deserve the recognition they are finally getting.

    Geno
    PS I got Clint's pink Caddilac for sale. How much premeum on that one? ;-)

     
  15. barchetta

    barchetta Formula Junior
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    So what do you think a platinum level 365GTC is worth without a unique provenance?
     
  16. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
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    It would help if a few more traded to get a grasp on today's red hot market. A Platinum level car is not all that determines value. You can have a survivor unrested original car score a Platinum or 95 or above points at an FCA sanctioned event just as you can have a fully restored car (poorly restored cars included) score a Platinum. The over all quality of the car, restored or unrestoed hopefully is what effects value. More recently the Classiche certification will go a long way as well. I think for the very best GTC's in this climate the number may need to start with a 7 and up from there. Than there is the other factor, like how many bidders might be in the room if sold at auction. Many of variables and the environment (where the car is offered) will determine what one car might be worth on any given day.

    Geno


     
  17. SCantera

    SCantera F1 Rookie
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    Aug 4, 2004
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    #114 SCantera, Mar 9, 2013
    Last edited: Mar 9, 2013
    The Gooding auction was interesting. To me some right really being chased and went for more than their estimates. Most were in the range estimated. The Dinos seemed to have cooled a bit. The "chairs n flairs" car left me sratching my head. The flairs didn't seem right to me....but it's not my area of expertise. The 275s were hot-hot-hot! The 275 GTS was a gorgeous car and blew right through $1m.

    Sure was fun.......today off to RM!!
     
  18. KenGoldman

    KenGoldman Formula Junior
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    May 25, 2009
    527
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    A resale red 330 GTC Sold at RM for $450,000 + 10% = $495,000.

    Car was just OK---certainly nothing great. I think $500K for
    this car was plenty. Estimate $390,000. to $450,000.


    RM Lot 162 S/N 10007


    Ken Goldman
     
  19. Julius H.

    Julius H. Formula Junior

    Feb 25, 2013
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    Julius
    I bet that your is much better :)
     
  20. Daytonafan

    Daytonafan F1 Rookie

    Oct 18, 2003
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    According to Kidston S.A's Facebook page sold to a major west coast collector who likes special colours.

    (not sure if FB login required) https://www.facebook.com/#!/notes/kidston/ferraris-go-wild-at-the-amelia-island-auctions/579089172101940
     
  21. Tenney

    Tenney F1 Rookie
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    Feb 21, 2001
    3,622
    Recall that car at a shop on LaCienega ten years or so ago asking a tenth of the pre-commisson #. Course AAPL was around $25 at the time ...
     
  22. LamboRider

    LamboRider Formula Junior

    Feb 9, 2011
    463
    You mean Heritage Classics?
    Inventory
     
  23. VIZSLA

    VIZSLA Four Time F1 World Champ
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    Jan 11, 2008
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    This talk of values reminds me of a (silver?) GTC I used to see back in the seventies or eighties.
    It sat for the longest time outside an exotic car shop on Western Ave in Brighton Mass. The place later was occupied by Aston Martin New England I believe.
    I'm curious as to what happened to it.
    Hate to think that it was lost to the Boston winters.
     
  24. Tenney

    Tenney F1 Rookie
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    Feb 21, 2001
    3,622
    Heritage had moved to Santa Monica blvd. by then - Modena, I recall the store was called (across the street and just up the hill from where Heritage had been) - and think unrelated to noted Modena service center.
     
  25. Terra

    Terra Formula 3
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    Feb 16, 2004
    2,496
    Yes, Luciano Fabbio's Modena Imports on La Cienega Blvd. had it at that time. It had belonged to Alan Finkelstein (an art dealer who's pals with Jack Nicholson), for 20-plus years. Finkelstein also owned a 365 GTB/4 #16465 Daytona Spider (Giallo Dino 20-Y-348) for many years.
     
  26. John B

    John B Formula 3

    May 27, 2003
    1,549
    NJ
    1967 330 GTC 10279 at Hyman Classic Cars, $750k
     
  27. mdw3

    mdw3 Karting

    Jan 2, 2005
    194
    Los Angeles, CA
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    Michael
    Expensive for sure. I think certain dealers (or consignors, perhaps) catch wind of some (possibly aberrant) sales at a multiple of the previous price levels and immediately (over-) correct their pricing in an attempt to capture every dollar that might be out there for the model in question, on the best day in the world, for the best car in the world. Absent some very major shifts in world and Ferrari economics, I would guess that an average to nice 330 GTC without some special provenance, condition or feature is likely to sit for a very long time at an asking price in this rarefied neighborhood. I might hazard that $500-600K would be the real liquid price for such a car. Hope springs eternal, but a smart (and successful) business person once told me "Hope is not a strategy."

    Michael
     
  28. Julius H.

    Julius H. Formula Junior

    Feb 25, 2013
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    Europe
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    Julius

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