Are prices falling? 246 GTS market dropped below $135k

WTF? Why did LamboRider revive this thread? (And what does he know anyway?) He responded to a posting that was over 4 F'ING YEARS OLD!!! This thread is full of postings by "banned users," unsubscribed users, and a bunch of wannabees who likely don't own a car.

Time to bury this old thread, or at least start a new one with the thread title:

"Dino GTSs drop to $275,000!!! Dino GTs drop to $225,000!!!"

If someone posts after me, I'll make you PAY BIG TIME!!!!!!

 

Not a Free Post

What did I win, er, lose?


via rubber ducky

 

Spoken like a guy who got here after 2004. You missed all the real tough guys. ;-)

 

When people talk about Dino's as a commodity and are worried about it's "direction in the marketplace", you've got your head in the wrong place.

 

You hit it on the head. If they do go down just buy another one if you like them. Don't buy for investment. Because if they drop, and you don't love the piece of "Art" you have, then you are sour on "Ferrari" . I have never bought a car for investment, only to drive. Same with watches and art. Some of it has gone up.... good, some of it has gone down, I still love the paintings or watch.

 

+ 246

Owners who give any care to the 'direction of the marketplace' have missed the point IMHO.

 

Bob has nailed it.
Recent discussion shows the Dino is just that

 

But are the buyers dealers or real consumers?

Seems like many as yourself are being bought to flip which is a clear indication of a bubble

 

Uhh, " . . . got here . . ." meaning got a Dino? Got lost? Got what?

If by getting here you mean got a Dino, then I was "here" or "there" way before 2004. If you are refering to FCHAT's little speck in the Universe, then you are right - I didn't show up here until 2005.

But you must be the MAN since you dropped in here in 2003!

 

OK. I've been here since 2001 when Rob first started this website. I had just bought my Dino, not even really knowing what it was, only that it looked beautiful in Nick Soprano's shop, and was a "Ferrari" in all but name, sounded great and handled beautifully. I'm now 12 years older but I'm still a tough bastard.

Now that we got that out of the way, I'm sure most of you keep stacks of car mags in the bathroom. That's where I get most of my car reading done. Sports Car Market Magazine tracks actual sales, mostly auction results, but also whatever private party info they can get their hands on. In 2008 the average selling price of a Dino GTS in good condition (but not 99 point concourse) was about $157,000. In 2013 average selling price is well over $300,000.

I'm sure some of the outliers on the bell curve (one GTS sold at auction in Arizona this January for over $500,000) have pulled up the "average". Unfortunately it's a small market with few cars, so a few sales in either direction can easily skew the average.

I've seen Jaguar E-types advertised at $100,000 and they built 90,000 of those. They only built 1272 GTS cars. Of those, say 800-900 came to the USA. Many were left to rot when upkeep became more expensive than the car. These cars were bought mostly by those who couldn't quite swing a 12 cylinder (Daytona was twice the price) but loved the idea of a small inexpensive (relatively speaking) "almost Ferrari" (Enzo's words, not mine).

So of the 800-900 cars, how many were crashed and written off, or left in a barn when something expensive broke and rusted away? How many are left? 500? 600?

Supply and demand. These are the last of the "Enzo-era" cars. And still the least expensive, with Daytona's going for $500K and up, and the earlier cars hitting the stratosphere ($700K for a 330GTC, 275's at close to a mil ($1.2M for the 4 cam)and 250's untouchable unless you want a 4 seater).

My personal opinion is that just as 275's will never return to the $300K they were selling for in 2002, the Dinos (both GT and GTS) have hit their baseline price somewhere in the mid to high $200's for average cars, with good ones at $300K or better and great ones at $400K or better. I am puzzled by the nearly $100,000 premium of a GTS over a GT, when the differential has been much smaller over the past 10 years (30-40K?). I love my GTS but I don't think it's a $100K better than a GT. But beauty and value are in the eyes of the purchaser.

All JMHO of course.

 

Don't forget the Chairs & Flares Dino that sold in Monterey Aug 2012 above $500k also.

 

I guess I was lucky to buy a 275/gtb4 (97 point car) in 2002, and a 246gts in 2007.

I sold the 275 as frankly it wasn't that fun to drive. Plus it appreciated so much, that it was silly to keep it.

The Dino is a blast, and I love it. Of course it looks stunning. The only car I prefer is a Porsche Speedster.

 

Hi, I'm Max & I'm new to this site. I own four Dino's, three 246 GT's & a 206 GT.

It's interesting to hear you discuss rising prices. Here in the UK, prices are of course heading up too, in line with many other sought after classics. Prices for quality GT & GTS's, either original or properly restored, regularly fetch over the £250k mark. What's crazy is that poor condition or badly restored Dino's are also fetching very strong money. A lack of cars & plentiful investors are pushing prices skywards for sure.

My 206GT will have completed a full restoration within a few weeks & I'm wondering where or how to market the car. Trying to judge a value is tricky as so few come to the market. Having said that, I viewed a 206GT for sale very recently, here in the UK. The asking price was £350k & the car was surprisingly poor for that money. Proper detailed restorations here are expensive. I spotted a 246 car jack on eBay today with an asking price of £12,900! Is anyone stupid enough to actually pay that price?

 

Great to hear that you have 206 gt running a restoration.you should post some pictures