New 250GTE and 330 GT Estimated Values

I would be happy to pay $50,000 for a REALLY nice 250 GTE!

 

Hi, it is my first post on FerrariChat.
About the 330, we found a 330GT 2+2 1965 in France for less than 40.000euro.
But the engine and the clucht were to remake.
The quotation in Belguim 6 years ago was something like 45.000euro

Regards
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I'm sure you would!

The following car is on offer from DK Engineering in the UK.
Asking price is $35,000, which is the car minus engine, gearbox and seats.
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Just wait until the end of 2006. You may pay even less.
No kidding.

 

The quotation of the 330 in "Routeclassiche" is 75000 euro in a normal state (or certificated ASI).

 

are you forecasting a global economic meltdown, or are you going to flood the market with affordable copies?
?
I guess it ia good thing I like mine for what it is, and not an investment.

 

What a shame to see a GTE looking like that. I wonder how bent that frame is that it's getting parted out. Anyway, it looks like there's an engine and gearbox in it when those pictures were taken.

Cheers,
JB

 

Congratulations on your find, and welcome to Ferrarichat. We would love to know the serial numbers, so Kerry can update the register, if you have a moment.

Cheers,
JB

 

Thanks!
Sorry if my english is bad, I do my best.
I will give the serial number, but the papers are at my office. I will give it this weekend.

Is your car on Ferrari Owners? Maybe you can help me to find the serial number on it, because in my account I don't find him.

Your personnal website is very interesting.
Regards

 

I'm very intested in the chassisnumber too, as we do not have too much 330 GT 2+2's here in Belgium, as far as I know there are only 1 or 2 red 330 GT 2+2's in Belgium.

Best regards

-Kevin

 

The car wes belgian before becoming French then she became Belgian again.
Wich is your serial number?
Who's the guy I have to give the number? What is email adres?

Here's another one from Belgium (grey). It is the only one I know.
http://www.forum-auto.com/sqlforum/section1/sujet280600-5740.htm

 

All I am saying is that they are overvalued. If something appreciates by >50% in a 1-2 years, one does wonder.

As far a slowdown is concerned, take a look around you. Number of people trying to bail out of RE they cannot afford is comical. The ride is over for these people....no more easy home equity loan to blow on boats or vintage Ferraris.

Good to hear that! Words to live by for a real enthusiast.

 

It's not possible that vintage Ferraris were seriously undervalued for a long period of time?
I purchased my 330 over two years ago largely because I thought it was an unbelivable value.
(I should have gotten a $125,000 excellent Daytona at the same time!)

 

Also, welcome ferrarife!

 

Bubble doomsayers have been at it for a decade. There will be an adjustment, but it will not affect vintage V12 Ferraris. Most folks who buy these machines do not have to tap the home equity line of credit to get one. They just make another movie, deal, sell some shares.... Even in the economic depression there was still a market for luxury goods.
My area, Silicon Valley is also seeing a very healthy RE market. Climate, jobs, and simple lack of space around SF will mean a smaller adjustment than elesewhere.
IOW, this is not the same runup as in the 80s, but the market could prove me wrong. My crystal ball has been wrong before.

 

Asset bubbles usually involve speculators who are buying the asset as an "investment." This was true in the 80s with Ferraris, and there is some evidence of it in muscle cars now.

But with vintage Ferraris, everything I can see is that they are generally not being bought by speculators or dealers, but rather by end users who are buying them because they want them to drive or show (or look at in the garage), not as an "investment."

 

donv has it nailed! if you want to know where the speculators are, just take a look at barrett jackson results this year. for the price of the chevrolet chevelle SS LS6 convertible that sold for $1,242,000, here are the Ferraris you could buy:
330 GT 2+2 $70k
250 GT Lusso $350k
245 Dino GTS flares and chairs $150k (95 pt car)
275 GTB/4 Daytona $200k
512 BBi $90k
328 GTS (89) $60k
250 GT PF Cabriolet Sr. II $240k
365 GTC/4 $80k
so, this list of classics, vintage and one daily driver would be equivalend to a muscle car from detroit that no one will ever drive again?
from an investment standpoint, i'd rather take my chances with a list like mine than blow 1.25M on a single chevy. but that's just me.

 

I hope I am wrong but....
IMHO, there is a large RE bubble, in the urban areas, that will be bursting big in the short term. There is a glut on the present market for overpriced condos and houses, 0% down loans being made on interest only 10 year balloons. A lot of late comers to the RE investors clan, are overextended or over-invested in sh*t like this. If the RE value drops, how do they refi the balloon when they haven't dented the principal? If they sell at a lower value, they still wind up owing $$$, and maybe they're out on the street. Looks to me like a lot of defaults and repo's on the horizon. This could affect the economy in a big way, construction starts down big, the start of recession.

How it will effect Ferrari prices, who knows?

The American Muscle cars of recent stratospheric pricing, well, they IMO are a bit more vulrenable. I don't care if there were only 12 built in Tahiti Blue, that doesn't make it a rare car. The speculators are driving up the prices of the muscle cars, that is the bubble that will surely pop, if things go to poo.

 

Regarding musclecars, a perusal of Hemmings shows that there are a few models that are indeed stratospheric but then also many reasonably priced cars, if you can apply the term reasonable to a $35K asking price for a nice '66 Pontiac GTO that retailed new for for $3,500.00...maybe affordable is a better term, especially considering the million-dollar musclecars probably sold for less than $5K new. Even a modest 10x multiple is well into Vintage Ferrariland, relatively. I agree that the top-priced musclecar market is likely headed for serious deflation but wonder if that's going to pull prices down across the board in that area.

I don't think that musclecar deflation necessarily means Ferrari deflation; like others here I see the classic and vintage Ferrari market as a much saner one that existed in the late 80's, with many lower-end cars now going to enthusiast "end users" rather than choppers, speculators, or trader-uppers.

Corvettes seem to have taken off again, with top "midyear"...'63 thru '67...examples showing asking prices often above $100K, some approaching $200K. They were mostly $25 to $50K when I was following Vettes 10 years ago. Looks like I sold my '69 Vette roadster near the bottom of the market in '99 but could care less; I made money and got my Ferrari.

 

The 330 GT on that website is 8925.

As I do not know French, is there any information about when and where the pictures were take?

Regards, Kerry

 

It is my picture, it was at the Brussels Expo 2006 (january).

 

With muscle cars... there are pretty much NO "rare cars".

There are only rare options packages.

I think at some point folks are going to figure out that a '71 426 Hemi 'Cuda with a 4 speed in Plum Crazy is NOT a rare car, its a very common car that just happens to have some rare options combinations. They will also figure out that a lesser optioned '70 Cuda can be easily upgraded/hotrodded to the same end specs and when done they STILL have a REAL '70 'Cuda just one with options added later rather than at the factory.

Sure, the hotrodded car is not a factory optioned car, but is that distinction really worth $1.5 million to the average muscle car guy? In the long run I think not. Particularly if he doesnt have millions to play with.

As the number of perfect clones of these rare options packages goes through the roof, I do not see any way it doesnt erode the value of the cars with factory options packages.

Its not like the real ones have any sort of important history or such like racecars.




Terry

 

In my opinion, anyone who would pay 1.2 million for a Chevelle is mentally ill. You could buy (or come close to buying) a 410 Superamerica for that!

 

Or, in my area, a beautiful oceanfront home.
"...Let's see...(balancing left hand/right hand)...old Chevelle or oceanfront home...I wonder which is the better buy...?"

 

Terry,

In Muscle, numbers matching is all important. People have already figured out what you suggested, those "options added later" cars with crate motors are one tenth the price of numbers matching. That said, one tenth the price is still nuts.

Remember American Iron provides a lot more roller coaster type excitement than Ferraris because with those chassis and that amount of power, you're not really in control...

Regards,

Art S.