Did you market watchers see this 330 GT 2+2 on BaT today? Exact car down 17% from a year ago.

Seems a little low, but not that much. I would have thought it would make $180-200, but apparently not.

 

This has been a fun market to watch.

When I bought my 330 Series II you could find very nice examples in the $40k range. This was 2005.

But more are available for sale now than then.

Matt

 

The Monterey auctions were off about 19% 2019 to 2018, so this is right in line with the market.

 

Nice profit!!


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I was offered that car for quite a bit less than it just sold for, ultimately I ended up spending more money on a far nicer example. I can’t see values getting much lower than they are right now.

 

It depends on the “investor to enthusiast” ratio. Global economic indicators are somewhat pessimistic...the investors are probably starting to at least look around to see where the emergency exits are located.

 

I think folks know that prices are down at the moment, so if someone is in a position to "just hold" a car, I can't see why they wouldn't.

The exceptions are probably folks that find themselves with a car and just want to monetize it as soon as possible (estate stuff), or folks that want to generate cash for (1) some other investment that they think will appreciate faster (good luck to them), or (2) some other car that is now suddenly within their reach because of the market pull back (lucky them!). In all cases, folks are doing what they view as best for them, and hopefully they are enabling someone else who falls into the "(2)" category.

No "losers" per se...

Regarding 330GTs, I thought the car that Gooding sold at Scottsdale was more of a bargain; less than $175k IIRC, and I thought it looked really quite nice...

 

Hammer was in 140s I think $165k with fees. It was much nicer but had “performance issues.” Definitely needed mechanical help. How much exactly ? I guess the new owner knows by now ...

 

Oh, ok, I did not drive it or anything, so was just talking about the cosmetics...

Catalog description made it sound like it was mechanically maintained.

Perhaps there really are no great "bargains" out there...

 

All goods worth price charged...

 

Black Vinyl Interior?????? Woof.

 

Meanwhile an Integra just brought $80k, though admittedly its a best of the best car. But still....


https://bringatrailer.com/listing/1997-acura-integra-type-r-4/

 

When you compare RM’s pricing model with BaT’s the return to the vendor this time was probably not that different to the vendor selling at RM.

 

Driver 4 headlight 330 just sold on BaT for $136k (plus 5%):

https://bringatrailer.com/listing/1965-ferrari-330gt-4/

I think prices are still going down...

 

Buyers only pay a 5% fee on top of the final sale price to BaT, capped at $5,000, so it would be a $141K selling price.

 

Is it that really cheap? Considering the needs : 40-50 on the exterior, easily 20 on mechanicals, and then some cosmetics inside. For sure, it can be enjoyed as is, and then it’s a great entry price. And probably fun ! But I think the price bakes in a lot of past neglect.

 

People spending almost $150k on a car, even a used, car, often think it should look like a $150k car, not some 50 year old used car. If that's how you think, this 330 wasn't for you.

If you want a fun V-12 to hop in and drive on a nice day, and you don't mind resale red with some dents, dings, and rust bubbles, this car looks great. In other words, a driver.

I can tell you from experience that you can drop $20k on it in a heartbeat, but honestly that is also true if you buy some super-restored "looks like new" vintage Ferrari as well. In fact, it might be more likely on the "looks like new" car. These are all old cars, and old Ferraris in particular cost money to take care of.

 

Both of these 150k cars were bottom of the barrel. I don’t think they are completely indicative of the overall market. There will always be a bigger demand for very original and high quality examples.

 

And now the new owner is already trying to resell that beater on eBay, $99k and no reserve .... Very strange

 

$99k no reserve sounds like a scam to me? Someone stole the pictures or something?

 

No, it is not a scam. The seller claims he needs to raise cash ASAP.

It was auctioned on BaT also no reserve with a far lower starting bid.

 

It's about right.

Daytona prices are tanking right now.

Matt

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This?

https://www.ebay.com/itm/1965-Ferrari-330-GT/174112136949?hash=item2889e45ef5:g:KkUAAOSwDbBd4qtA

Are you kidding me? Clearly a scam. No VIN, 3 pictures, no real description... right. Seller has never sold anything on eBay before and all feedback is from some purchases a few years go... right.

Car on BaT (pictures might be the same car) was not no reserve, and was definitely NOT a re-run. BaT is very careful about calling out when they re-run something, and why.

BaT did re-run a red 330 with a V-8 in it a while back, and that car started out as no reserve-- maybe that's what you are thinking of?

https://bringatrailer.com/listing/1967-ferrari-330-2-2/

And it brought more than the legit 330!

 

So let me get this straight. Because the seller says he needs the cash it is therefore not a scam?