| Author | Message | ||
| '75 308 GT4 (Peter)
|
Najib, I was born in the seventies so I have no first-hand knowledge of prices, only from what my parents told me when they bought their first house and car($19000Cdn for the house and, I think, $2500Cdn for a Rambler in 1965). | ||
| Najib Amanullah (Najib)
|
I think Peter is quite correct in his analysis. I was too young in the early '60s to know what money really was. When I bought my first house in '82, my neighbour had bought his house in the early sixties for UK Pds. 2,600. That is now worth some 170,000 giving a 6500% gain. So $4000 was no small amount. I think it would have been good to be able to buy 4-5 properties, benefit from the appreciation in value and rental income, then we could indulge in our expensive hobbies of maintaining F-cars. No harm in dreaming is there!!! | ||
| David Albright (Dalbright)
|
Living in Southern Maryland (15 mins south of DC) I was able to afford 16 acres of land and build a beautiful custom home. If you drive into Northern Virginia, some Townhouse communities start in the "low" $500,000....about $200,000 more than what I paid for my little paradise! | ||
| BretM (Bretm)
|
I think Peter's quote it right on. $140K may not be the average price of a home in Southern California (or where I live for that matter) but I'd say it's pretty darn close to the nation in general. It still amazes me how much you pay for location (and not necessarily a better one, unless you like traffic like us New Jerseyans, but a close one to a major city). I was thinking about what you said Patrick too, I'm still waiting for it to cost $20 to eat at McDonalds, at this rate it shouldn't be very long until that day. Even I can remember average cars (hondas, chevy, ford, etc) being half as much as they are now, and how old am I. | ||
| Patrick S. Perry (Psp1)
|
Magoo, The real estate prices in Southern California are actually just returning to the levels of the late 80s (give or take a little bit). Hopefully this doesn't mean the world economy is about to melt down, but I really think that this is not something to fear. We seem to be on the down portion of the cyclical pattern, but you can be confident that at some time over the next 20 years that one nations economy will become very strong in relation to the rest - and the chances are that rare commodities (Ferraris in our case) will be coveted by those with money, driving the prices up to all time records. It seems inevitable that at some point Ferraris will become the Deusenbergs(sp?) and Bugattis of the late 20th century. | ||
| magoo (Magoo)
|
Patrick, Look at the economic struggle we are in now because of false indicators and inflated prices. God,I hope you are wrong. This economic shake up had better teach us somewhat of a lesson. If it doesn't, soon it will take a wheelbarrow of money to buy a loaf of bread. | ||
| Patrick S. Perry (Psp1)
|
Apparently, Peter doesn't live in Southern California. $140,000 isn't even a reasonable 20% down payment on a "fixer-upper" around here - much less the total price of a home where you wouldn't have to place an armed guard on your car 24/7. I have a feeling we'll look back on these days thinking "only $50,000 for an 88TR? Why didn't I buy 4 or 5 of them?" | ||
| '75 308 GT4 (Peter)
|
It is abnormal to see such a low price tagged onto such an exotic car.... ....But remember those are 1960's prices, $5000 was about half the cost of a new home. Look at it now: typical few-year-old Ferrari ® $70000, typical new house ® $140000. Not much has changed. Sorry for spoiling the fun  | ||
| Mitchel DeFrancis (4re308)
|
I also found some ads for a Jaguar D-type for $5000, a Bugatti Royale for $9000, a Bugatti Type 57 Atlantique for $8000, a Lambo Miura for $6900 and a Ferrari 410 SA for $8000. Either the sellers are not with us anymore, or they have gone crazy in knowing what those cars are worth today. Could you just imagine bargining with some guy for a silly little Italian car called a Ferrari Testa Rossa? I can hear some old guy saying "Hell, it does not even have a convertible top and is a pain to tune all them carbs!, just gimme $3500 and get it off my lawn" Ahhh that is what dreams are made of. | ||
| Howie F. (Brokerofexotics)
|
It kills me to know that when I was in my mid teens, my mother decided to throw out ALL my older car magazines from R&T, C&D, etc. without even asking me. If she only knew e-bay was coming 15 years later.... I think this is why I'm still in therapy today. ;) | ||
| Martin (Miami348ts)
|
Yeah, call them up: "Good Morning. I saw your ad in the Road and Track for the Ferrari Testarossa that you have placed 40 years ago. Do you still have that car?" | ||
| Howie F. (Brokerofexotics)
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Fred, That is funny. I bet the cars are still around, but the original sellers have probably gone to a better place. | ||
| Frederick Thomas (Fred)
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Just for fun you should call up and tell them you are interested in one of them. | ||
| Mitchel DeFrancis (4re308)
|
OK, I just bought a bunch of 1960-1969 Road and Track magazines. You know whats fun to do? Looking through the classifieds in the back after you read through them. My God the treasures. I am looking at an ad for a 58 Testa Rossa for $4750, a 340 Mexico for $4500, a 250 Boano coupe for $4500. I was drooling all over myself. Could you imagine if you knew then, what you know now. I'd have 200 Ferraris. |