E-Type valuation thread | FerrariChat

E-Type valuation thread

Discussion in 'British' started by rdefabri, Sep 8, 2015.

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  1. rdefabri

    rdefabri Three Time F1 World Champ

    Jun 4, 2008
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    I enjoy following the 308 / 328 cars for sale thread, as well as the valuation threads, as it seems more timely and accurate information than something like Hagerty's valuation tool.

    Would love to do something similar here, but I'm guessing the sales don't happen as frequently. Since I own an E-Type ('66 FHC), and the values are moving, what's the current market bearing for a car like this?

    A check at Hagerty shows an average of $85K. My car is probably a condition 3, so around $80K. I had someone offer my $75K and I turned it down.

    The market seems to be showing even ratty examples of S1 E-Type's to be closer to $100K.

    What's the view from the folks here?
     
  2. ghibliman

    ghibliman Formula Junior

    Feb 19, 2009
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    #2 ghibliman, Sep 8, 2015
    Last edited: Sep 8, 2015
    In the last issue of Sports Car Market the following have sold:

    1964 FHC COND 2 - $196,110.00
    1967 OTS COND 2 - $292,895.00
    1969 OTS COND 2 - $134,605.00
    1966 OTS COND 2 - $100,000.00

    Also viewed an ad by E-Type UK USA in the same issue with:
    1964 OTS - $275,000.00
    1967 FHC - $275,000.00

    I'm the second owner of a original CA '65 OTS in relatively good shape, but when time and money allows I plan on a full restoration as these seem to be worth the endeavor.
     
  3. kverges

    kverges F1 Rookie

    Nov 18, 2003
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    I really missed the boat on E-Types. At $60-75K it's on my list to own. At $200K I'll just admire from a distance.
     
  4. msdesignltd

    msdesignltd F1 World Champ
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    #4 msdesignltd, Sep 8, 2015
    Last edited by a moderator: Sep 7, 2017
    This is my 6th e type
    When a jag is dialed in .....
    It is unbeatable in comfort and style.
    In todays market an e is equal the value of the restoration that it has undergone or an original that is equal to that restoration.
    Soon there will be more restored than original and values will climb again.
    But that may take some time
    I do know of a 67 going into full body off resto
    The resto is &250,000.0
    He will be asking $275,000.00
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  5. riozilla

    riozilla Formula Junior

    Jan 25, 2006
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    Austin, TX
    I own a 66 Series 1 FHC in what I think is a very solid hagerty #2 condition (fully documented restoration with matching numbers). I had her for sale for $125 earlier in the year but took her off the market after watching a nearly identical car sell in front of me for $198k at Bonhams auction in Monterey a few weeks ago. Fantasy Junction in N.Cal sold a similar 66 coupe for $160k a few weeks ago also.

    Trying to hold on to mine and not sell her as I love her too much.
     
  6. rdefabri

    rdefabri Three Time F1 World Champ

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    Wow!

    Don't get me wrong, I love mine too...just curious because if these things start going haywire, I might consider cashing out
     
  7. riozilla

    riozilla Formula Junior

    Jan 25, 2006
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    Have to add that I didn't get a ton of people clamoring to buy her at 125 but had dozens of people who offered me 75-90k all day long that I declined. I think the right car at the right auction can bring the money or perhaps at the right dealer - but private party sales can take a really long time.
     
  8. rockminster

    rockminster Formula Junior
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    #8 rockminster, Sep 8, 2015
    Last edited by a moderator: Sep 7, 2017
    The S1's have run up so quickly that it wouldn't surprise me if there is a bit of a pull back. My car is a recent restoration and I've been told it would trade around $300K.

    I'm in it for the long run - the E-type is very usable and as much or more of a conversation starter as anything I've owned. There is also an absence of pretentiousness about the brand that makes it even more fun to have the car out and about.
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  9. ferraripete

    ferraripete F1 World Champ

    That is divinity. Wow!!!!

    Don't hold your breath expecting a pull back. Not gonna happen. The cars like yours remain undervalued.

    That car of yours has ZERO competition in the beauty department!!!!!!!
     
  10. rdefabri

    rdefabri Three Time F1 World Champ

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    Looks great!

    Assuming a pull back, I'd have to think it would be mild - I can't see these going from, say $300k to $100K (but I'm no expert).

    The bigger question for me is, do the S2 models start to appreciate once the S1s become "unobtainable"? I'd almost say that's what is happening to the 308 - 206 / 246 Dinos aren't in reach for the average person, so now the 308 is jumping up.

    I've strongly considered selling my S1 FHC and trading "down" to a S2 FHC. Might free up some cash for me to acquire another car while retaining the E-Type experience.
     
  11. riozilla

    riozilla Formula Junior

    Jan 25, 2006
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  12. rockminster

    rockminster Formula Junior
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    The S2 tradedown strategy could make logistical sense if you want to free up cash but keep the e-type experience.

    In terms of economics, IMO the S1 market will have to move up quite a bit from where it is in order to really move the S2 (or S3 market). Why? the cost of restoration is virtually the same across all three series but the difference in cost to buy a comparable condition platform car isn't great enough at this point in time to justify doing a S2 or S3.

    With about 32,000 S1 cars built, there are still a goodly number out there at relativeley affordable prices. Said another way, I personally wouldn't get involved in restoring a S2 or S3 unless I had a special connection with the car. If I was going to buy a S2 or S3 to use I would buy the ablsolute best one I could afford in order to be able to enjoy it with a minimum of additional expense.
     
  13. rdefabri

    rdefabri Three Time F1 World Champ

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    Yup - that would be (sort of) the plan, or maybe the "hare-brained scheme". Trade my S1 FHC for a solid / excellent S2 FHC + cash. Depending on how much cash, I'd consider adding to my stable.

    Even a driver, if the gulf between the series is large enough, I'd love to get a modern classic (Viper or Corvette) while maintaining an E-Type.

    It's risky and probably not feasible, but I've kicked it around for a bit.
     
  14. rockminster

    rockminster Formula Junior
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    It's logical. Super important to get a really good S2 car. I'm assuming your S1 is pretty well sorted and you know what it needs and doesn't need. It would suck to put your plan in place and then end up with a S2 that needs post purchase investments that equal the cost of your viper or corvette. You end up having gone from a S1 to a S2 and have no money in the bank nor vette/viper in the garage. That would suck.


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  15. ghibliman

    ghibliman Formula Junior

    Feb 19, 2009
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    That seems extremely high, unless the body is complete swiss cheese.

    I've been quoted half that from multiple reputable restorers.
     
  16. rdefabri

    rdefabri Three Time F1 World Champ

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    Yea, my S1 is definitely well sorted - had Terry Lippincott go over it a few years back, lots of rebuilt / new parts to ensure it's safe and reliable. The car has been GREAT. It sat for a good part of its life, he more or less brought it back.

    Has some of the "typical" issues - e.g., crank rope seal needs to be replaced / leak - but otherwise a solid driver.

    I would be very careful not to get a basket case or a money pit. I realize it's a roll of the dice, which is why I haven't pulled the trigger. Terry had an S2 FHC for sale, I didn't move quick enough. I was sure it was a solid car, I just found out too late, then sat on it.

    No rush from my end - I'd be perfectly happy keeping the car, but I'm always on the prowl.
     
  17. msdesignltd

    msdesignltd F1 World Champ
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    #17 msdesignltd, Sep 9, 2015
    Last edited by a moderator: Sep 7, 2017

    some will do it for less, no doubt..
    I have heard from multiple top sources, 200 to 250,000.00 is fair game..
    I have 16 pages of invoice work parts and labor that total $200,000.00+++..all parts new...not recon..new interior, new bumpers, new carbs , new wheels,new dash, all new updated wiring.
    granted many upgrades including mild cams and oversized comp. pistons were installed for reliability..all suspension and external fixtures were nickel plated.wilwood brakes..etc...
    My car was down to this...1 year ago.
    and looks like this now..
    In todays Market
    $200,000.00 goes quik
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  18. rockminster

    rockminster Formula Junior
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    My experience says that a full blown, done right, no excuses etype resto is $150k - $200k. That doesn't include the cost of the car.


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  19. ghibliman

    ghibliman Formula Junior

    Feb 19, 2009
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    Thanks for posting Michael.....

    All the "new" parts probably didn't help your bottom line......but it looks like it helped you final product! :) It sounds like you went a little beyond a stock car too.

    My car doesn't need a speck of body work (other than a repaint) and I've been told about $100k for a stock concourse 98-100 point resto.

    But I know how estimates are :-I
     
  20. rdefabri

    rdefabri Three Time F1 World Champ

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    It surely varies by shop - Lippincott was closer to your figure, at least when I had him do the work to my car a few years back. He was insanely cheap, but super thorough...somewhat of an anachronism, and he was perfectly happy about that. He's got to be in his 70's now, but still working. I need to get my car to him, it has a little ding (caused by me) that needs to be repaired!!! :(
     
  21. AHudson

    AHudson F1 Rookie
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    #21 AHudson, Sep 9, 2015
    Last edited by a moderator: Sep 7, 2017

    Great stuff there, and such fabulous examples. I remember the Cotswold Blue with Red debate you were having a couple years back on the resto. It turned out unbelievably beautiful.

    Though we all love our F cars, the E type was certainly my first brush with attainable exotica. After 8 years with the Boxer and values doing what they did, I jumped off toward an E type as a fun, easier to service car. (I live in a small town, don't love protracted parts hunts either.)

    Mine's a 67, S1 car (covered lights, toggles, 3 carbs, etc) OTS. Found it on ebay, paid too much in the high 50's and have subsequently spent just over 6 figures additional getting it right. (Not including engine and transmission.) And we're not done yet.

    Will be at Santa Fe concours at the end of this month, since the resto shop is in New Mexico.

    I am encouraged by the valuations I see posted here, and feel a #1 open car is in the $250-300k range also. There was the $400k+ outlier in NYC a couple years back, yet these cars are remarkably complicated to restore, and are right up there in intricacy, design, fitment. They do not respond well to ham-fisted re-assembly. To me, the restored cars - if you want to drive one - are worth paying up for.

    Here is was a couple weeks ago. Coming along...
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  22. msdesignltd

    msdesignltd F1 World Champ
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    #22 msdesignltd, Sep 9, 2015
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    Wow
    Realllly nice
    Are those headers these headers?
    If so, you are in for a real treat!
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  23. rockminster

    rockminster Formula Junior
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    Hudson - looks fabulous! I just love opalescent silver blue. What color(s) will the interior and top be?


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  24. msdesignltd

    msdesignltd F1 World Champ
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    #24 msdesignltd, Sep 9, 2015
    Last edited: Sep 9, 2015
  25. AHudson

    AHudson F1 Rookie
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    #25 AHudson, Sep 9, 2015
    Last edited: Sep 9, 2015
    By now it SHOULD be navy on both the leather and the top. (Went in for top today.)

    I debated on the black top, but in the end went with what I presumed would be a more unified, simplified look in navy. I also went with a navy trunk, forgoing the inexplicable 'biscuit' color. So, if the next owner objects, for $288 they can get the biscuit one.

    Yes, at least they look the same. Ordered from US supplier, built in US, but are supposedly 'better' than the UK versions on which they're based. I'm sure some of that is bias, but the look is the same as those.

    That is like a sports car primal scream! Man that sounds incredible. I can almost see grainy black and white photos of D types screaming past the finish line. The XK motor is truly one of the greats of all time. Thanks for that.

    Oh, and seriously off-topic: if anyone has a hardtop they're sick of tripping over, let me know!
     

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