Preface: I recently received an email from Michael Sheehan's company, offering 365 GTC4 at over $90,000- Pretty much the same condition as the one I have for sale on FerrariAds.com- Question: Seeing the way prices continue to go up on these cars, do you think I should just pull my car off the sale pages and wait until potential buyers are sorry they didn't act sooner? Or should I leave it there and sell now? The car spends alot of time parked underground, and just doesn't get driven as much as it should...
No offence to Mr. Sheehan but I find his $$ #"s to be a bit on the optimistic side. I don't know if he gets what he asks or not. He is after all a trader and wheeler dealer and as such must set the stage so to speak for each possible deal. Then there is the possibility that the car is on consignment and the owner set the price at what he wants to sell the car for with little or no regard for the actual market value of the vehicle. I see a lot of that kind of pricing in high end real estate on Maui. After all Prince Charming might not be a fairy tale, you think? In real estate I tell my clients that if they want to sell a property they should ask for what they will take. If they dont care if a property sells then ask for what they want. I would think the same advice would work for Ferraris. JMHO Jim
I found Sheehan to be a perfectly pleasant and straight shooting fellow. I have also seen a number of GTC4s sell close to 100K at auctions. Prices are going up, even for 2+2s. Brokers can get your car better exposure and indeed know qualified buyers, the market itself, and can screen all the loosers who would normally come to your house asking for a test drive. There is a place in the world for retial, wholesale, and private party.....
mike sheehan certainly has a wealth of knowledge and experience with ferraris. he set the market on a lot of the benchmark ferrari v12's years ago. prices have gone up on these big 12 cylinders lately. seems the value has always been a percentage of its rich cousin, the daytona. 330 gtc, lusso, 275gtb two or four camers are off the chart. when daytona's were $125,000 not too long ago the c4 was about $55,000 to $65,000, about 50% of daytona value. i think daytona's are $200,000 and more today. just ask a daytona owner about price. see what he says. so much money has been made on realestate in the past 10 years that there is more cash to go around today and that cash is in the hands of enthusiastic, future, ferrari owners. talk about supersonic price upswing!! the real estate market makes the ferrari's look like slow appreciation. anyway, a $100,000 for a v/12 is probably worth it today, it just depends if you have the financial ability. sixteen years ago ferrari's were a world record. some of these cars have come back to and surpassed those prices. its only taken 16 years. fairly slow move upward. the ferrari market letter dated january 1990 has 365 gtc4's for sale at $225,000 plus. daytona's were priced at about $400,000 to $500,000 at that time.
