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A few more asking prices from the "golden years"

Discussion in 'Vintage Ferrari Market' started by bannishg, Sep 9, 2012.

  1. tongascrew

    tongascrew F1 Rookie

    Jan 3, 2006
    2,989
    tewksbury
    Full Name:
    george burgess
    I must be getting old. I was getting these two chassis mixed up.It's been a while since I have been back this far in my files. Of course the file for 0006 shows the two M.M. events and the s/n in the ad is correct.Thanks tongascrew
     
  2. bannishg

    bannishg Formula Junior

    Oct 6, 2008
    480
    Springfield area, MA
    Full Name:
    Greg
    #181 bannishg, Sep 6, 2013
    Last edited by a moderator: Sep 7, 2017
    Was fortunate enough to have been granted access to issues of Motor Sport from the 1970's, and there are lots of good ones in there! Please note the exchange rate from PDS to USD varied, and often the dollar was not as strong against the pound (1 GBP = $2.50 US for most of the early 70s).

    The exchange rate at March 1975 was about $2.41 per PD, and for June 1972 was roughly $2.58 per PD.

    Decline in the Pound's strength in the mid-to-late 70s brought an influx of collectors from the states who could buy collector cars a good deal cheaper. The lowest point of the PD against the Dollar was at one point in October 1976, at only $1.57 per PD. In the latest part of the 70s the GBP would re-gain some ground against the USD, and for 1979 the ex rt was generally around $2.25 per PD.

    It's also worthy of note that even in the earliest point of the 70s, that's 1970-71, the UK had already been recognizing Ferraris as collectors items (where it would be until around 1972/3 in the US, and as late as 75 in some parts of Europe), so during 1970-74, prices could be often as much as double what they were going for in the states, at least as far as the competition cars of the 50s.

    The alloy 275-4 in 10/76 translated roughly to $19k USD. The GTO in Aug 71 was translated to be offered for roughly $12k USD.
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  3. Ed Niles

    Ed Niles Formula 3
    Honorary

    Sep 7, 2004
    2,434
    West Hills, CA
    Full Name:
    Edwin K. Niles
    Dr. Paul S. was an active trader/enthusiast in those days, and through the years had quite a number of great cars.
     
  4. BIRA

    BIRA Formula Junior

    Jun 15, 2007
    888

    I love Alan Clark add. You can be sure he wrote it himself. Apart of being member of House of Lords and MP ( for Kensington and Chelsea constituency ,,,where else,,if my memory is correct) and many time member of the UK government he was a fabulous collector and a painful negotiator when buying or selling cars. His books are fantastic, based mainly on the column he wrote for Classic and Sports Car in think.
     
  5. KenGoldman

    KenGoldman Formula Junior
    Rossa Subscribed Owner

    May 25, 2009
    505
    MASS., USA
    Full Name:
    Kenneth Goldman
    What a great forum.

    Wish I had more sense when I bought my new 308 GT4 back in 1979.

    Anyone got a time machine I can borrow??

    Ken Goldman
     
  6. VIZSLA

    VIZSLA Four Time F1 World Champ
    Owner

    Jan 11, 2008
    41,186
    Sarasota
    Full Name:
    David
    I didn't use a time machine but I did pick up a 77 GT4 this week.
    Maybe borrowing that would help.
    ;)
     
  7. thecheddar

    thecheddar Formula 3

    Jun 29, 2006
    1,054
    Santa Monica
    Full Name:
    Cheddar, The
    Nice! I honestly think people in the near future are going to cringe when they look back at our contemporary GT4 prices, much as we do in this thread when looking at the vintage prices. Perhaps not quiiiite to the multi-million dollar level of cringe but similarly nonetheless.

    Congrats for getting in "early"!
     
  8. VIZSLA

    VIZSLA Four Time F1 World Champ
    Owner

    Jan 11, 2008
    41,186
    Sarasota
    Full Name:
    David
    At my age early is a relative term.

    My heirs and successors can worry about resale values.

    Thanks. Its a hoot.
     
  9. KenGoldman

    KenGoldman Formula Junior
    Rossa Subscribed Owner

    May 25, 2009
    505
    MASS., USA
    Full Name:
    Kenneth Goldman
    David. Welcome to the Ferrari owners club.

    Glad to hear this. Hope to see your new toy soon.

    Enjoy!!!!

    Ken
     
  10. VIZSLA

    VIZSLA Four Time F1 World Champ
    Owner

    Jan 11, 2008
    41,186
    Sarasota
    Full Name:
    David
    Thanks Ken.
    I hope to make Tutto Lite.
     
  11. Condor Man

    Condor Man Formula 3

    Sep 8, 2006
    2,275
    Los Angeles
    #192 Condor Man, Sep 10, 2013
    Last edited by a moderator: Sep 7, 2017
  12. bannishg

    bannishg Formula Junior

    Oct 6, 2008
    480
    Springfield area, MA
    Full Name:
    Greg
    #193 bannishg, Sep 10, 2013
    Last edited by a moderator: Sep 7, 2017
    16 Years ago, wow, even coastal real estate was a fraction of what it is today!

    Yes, especially the earlier competition cars! The TDF and Mondial were bargains, even for 97! The later cars, especially the Dinos, I feel he was asking too much, those figures are high for 1997 believe it or not. A "driver" 246gt and gts went for $35-40k and $45-55k USD here in the States at the time. Mint cars were around 20-30% more, so 50k and 65k respectively. The dinos in this ad translate to $80k - $107k US. Everything else was generally fairly priced, though the conditions weren't really specified.
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  13. VIZSLA

    VIZSLA Four Time F1 World Champ
    Owner

    Jan 11, 2008
    41,186
    Sarasota
    Full Name:
    David
    Some folks seem to think that we'll be looking at today's prices in a similar fashion ten years hence.
     
  14. Bobj

    Bobj Formula Junior

    Aug 12, 2013
    454
    UK
    I'd just be happy to buy at the prices back in March 2013 !!!!!
     
  15. bannishg

    bannishg Formula Junior

    Oct 6, 2008
    480
    Springfield area, MA
    Full Name:
    Greg
    Would you guys believe that a brand new 212 Inter delivered to New York had a sticker of $9,500 US for 1952? That's a NEW Ferrari, that's the MSRP, not a demo or a special sale price, at 4 figures!
     
  16. VIZSLA

    VIZSLA Four Time F1 World Champ
    Owner

    Jan 11, 2008
    41,186
    Sarasota
    Full Name:
    David
    And what would a new house go for in 52?
     
  17. bannishg

    bannishg Formula Junior

    Oct 6, 2008
    480
    Springfield area, MA
    Full Name:
    Greg
    Depends where you were, back then So Cal, San Fran, Boston, much of Long Island and many other locations that are hot realty spots weren't as coveted in the early 50s. The NYC area (including northeast NJ, the SW tip of CT, and the Western part of L.I.) and Washington DC were probably the most expensive locations at the time, and a typical home could run you in the mid-to-upper teens. In most other areas, good houses, especially those marketed for (then) young G.I.'s, could certainly be plentiful in the sub-5 figure category. The nat'l average was probably around 10-12k in 1952. It is important to note that they had gone up at least 15-20% since 1950, over 50% since 1945 and perhaps more than double 1940 prices.

    Also, even though the market is in a slump, the average home is still roughly $200k, correct? The 1952 dollar equals roughly nine 2013 dollars, so the average cost in the context of the dollar today was around $100k, meaning that housing was cheaper in BOTH senses, and many many many times cheaper when talking about parts of California and oceanfronts.

    Some people try to console themselves over the regret of missed opportunities by trying to argue "but $xxx was a lot of money at the time, and my father only made $xxx a year!". Sorry, doesn't work this time! ;)
     
  18. VIZSLA

    VIZSLA Four Time F1 World Champ
    Owner

    Jan 11, 2008
    41,186
    Sarasota
    Full Name:
    David
    I suspect that no matter the math the Ferrari was well out of reach for the majority of Americans. Whether more or less than today is arguable.
     
  19. bannishg

    bannishg Formula Junior

    Oct 6, 2008
    480
    Springfield area, MA
    Full Name:
    Greg
    #200 bannishg, Sep 10, 2013
    Last edited: Sep 10, 2013
    When new? For sure they were out of reach. Unless you were in that particular income bracket, the willingness of lenders to loan you the money for a new Ferrari would have been very low, and probably would've laughed at you if you said the car was an investment.

    However, luxury and sports cars de-valued very very quickly, and were never sold at a premium to the sticker like they do today. In the late 60s, as demonstrated by this very thread, some used Ferraris were priced on par with that of a new base model Datsun. Maintenance and repairs in about half of the cases, of course, would have still emptied the wallet of an average salaried man, but the car itself could have been purchased with ease! Certain models could have been purchased used in the same fashion a middle-class un-married hotshot would buy a 3 or 4 year-old corvette today. It actually could have been done in a more practical context back then.

    Perhaps upper-middle class folk could have owned a Ferrari and be able to pay for upkeep, and though you can still afford certain F-cars on a middle class salary today, you'd have to live VERY VERY frugally in just about every other aspect of your life.
     

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