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Discussion in 'Vintage Ferrari Market' started by ross, Nov 16, 2004.
can you guys give me some idea of what the market prices are these days?
There are many here who are more up to date than I. (Wayne, our chat board turns its lonely eyes to you.) Daytona's seem to have been stuck at a buck and a quarter for ever and a day. Then last year, one sold in Europe for $150k US, which led everybody to believe that the long awaited uptick was starting to happen. I have seen some cars move up to, say, $135K to $140K, but I don't know if they are trading at that number.
However, I must say that the market has thinned out quite a bit. Maybe the US cars are going to Europe, hard to say.
ps GTC prices have really gone through the roof!
I think some of the older ferraris are being held for speculative purposes. Many people were devastated in the late 1980s on cars and again in the early 2000s on equities. With the current economy getting 8-10% return on your money is a big deal, so why not let it ride if you have a nice example and see what happens. 125 to 140 is over 10%. I don't have the capital to invest in cars, nor do I want to, but many speculators have made and lost a fortune.
Last I was checking 125K should have been rewarded with an extremely nice car, that was more then a year ago.
this was why i asked....prices in europe are more like Euro 150k+, which at todays exchange rate is close to $200k.....
Having just bought a nice driver Daytona, I would say prices have definitely gone up. I was hoping to find a cond 2 car for $150K, since up until a year or so that's what they were (look at past FML or Sheehan's site). I haven't seen one of these for sale in a while, but cond 3 drivers coming on the market now have asking prices around $150K, so maybe selling for $140K. These were $120K cars last year.
I believe the drivers have gone up $15K to $20K, and the really nice examples have gone up a lot more than that from what I've been told by a few brokers. $200K+ Daytonas may be more common than you think, you just don't hear about them since they don't get advertised.
There used to be at least a half dozen Daytonas in the FML at any given time. It's slim pickings now. Being that I missed the boat on the Lusso and 275GTB, and seeing signs of the Daytona anchor lifting, I opted to jump aboard now rather than wait and hope a better deal comes along.
With a little patience you can find a condition 1 car for $140,000. The condition concours cars are 20 K more. The low range is $110,000. But diligent patience is key.