Ferrari 412 5-speed for sale

Looks pretty great. I reckon the prices have slowly crept up over the last 12 to 24 months. Also it seems like better examples are up for sale which may also naturally command higher prices.

 

Looks nice and may actually be nice but the dealer has a reputation for selling cars with lots of needs. A look at the ownership history, service records and a personal inspection before a PPI is as important as ever given that fact.

 

Gullwing does have "shady" rep for cars.....but pics shown do not appear taken at GW location in Queens, but rather perhaps previous owners garage.....someone who appears to have a well attended to stable.

Jack

 

Good day All,

Just adding details from the ad...

Cheers,

Sam

Image Unavailable, Please Login
Image Unavailable, Please Login
Image Unavailable, Please Login

 

Car to the left of the 412 looks like a Lamborghini 350GT or 400GT, and to the right, a 1960's era Maserati. Don't believe Gullwing has either of those cars in stock.

 

It isn't unusual I suppose for one dealer to use photos from the previous dealer or owner, and that may not have a nefarious reason, but that illustrates another problem with looking at cars online: you never know for sure when or where the pictures were taken.

Like the aging party girl who never updates her 15 year old photos on her Facebook page, pictures on a website could be years old. Or not.

With many dealers, the watchwords definitely are "caveat emptor" and it would be a fool who sends a deposit for a car like this without looking into some of the due diligence items I listed in an earlier post.

 

And amazing how quickly values on these cars have risen. The very best 412 5 speeds in the $80K range and autos in the 70K range- and good clean cars only $10 less. Just ONE year ago people were still expecting to find a dead mind low mile 412 with tons of service history for sub $40K.

 

I agree, the sudden spike in prices indicates an adjustment in the market, most likely a bubble waiting to burst by the end of August (just my 2 cents)

 

I seriously doubt it. In general as the price of new Ferraris and Porsches and Maseratis climbs- it pulls up the "Driver" cars- You've seen it happen to Carrera 3.2's and now you see it with 308, 328 and 400/412.

I think most people felt ALL the 2+2s were undervalued for a long time. (Except for Sheehan) Now we're starting to see these cars get to about where they should be price-wise. If a 308GTb is now a $70K car it makes sense that the far rarer and more expensive (When new) 412 should be at or above that valuation. With Queen Mothers going from $80K cars to $300K cars in ONE YEAR, it makes sense that the next iteration- the 400/412s would follow suit.

Certainly the guys trying to get $100K for 412 5 speeds are in fantasyland, but given restoration costs- a PERFECT 400 or 412 HAS to be worth much more than the previous valuation- and the market is now realizing that.

 

Probably not far away, already there in the UK
Used 1987 Ferrari 412 for sale in Surrey | Pistonheads

M

 

But the recent devaluation of the Euro has to soften the market here in the States at some point- I would imagine we'll see it with VW Sambas and Longhood Porsches- since the Euro money will NOT be present at the US auctions this year.

 

3500 km 412 for sale in France but its an auto. €140,000
Image Unavailable, Please Login

 

Here's the link to that car:

Used Ferrari 412-50i-A - 205610917

With only 3500 Km on the clock- Maybe north of 100K USD is correct.

 

Its also up on mobile.de (were I found it)

Even if you have to spend more to recommission it properly, and even if (IMO) prices are generally in bubble territory, these almost unused cars are (IMO) worth a lot more than the low miles general market because they are so nice cosmetically.

 

A few months ago I was shopping for a 412 stick and you guys on this forum pointed me to that car at Bobileff, and I called him on it while it was still on his site. He indicated that the car was sold to Driver Source in TX.

I called them and they indicated it was sold.

It's a little unsettling to see it for sale again so soon as if the owner wasn't Ok with it.

Bobileff has a Great rep and Gullwing's is Good too. Gullwing will sell any car in ANY condition, but they're straight shooters about it.

What gets me is the price- Since the pix are not at Gullwing, I'll assume it's a consignment deal or the car's still on it's way to Gullwing.

They had two 412 automatics there a few weeks back at half the price of this car. I know 412 prices have moved, but somehow I'm not buying into the price they're asking...

 

The market has spoken I'm afraid.

You can only go so long with every post being "These are currently undervalued" before they are no longer undervalued.

The problem with buying ANY Ferrari from an auction or dealer- and ESPECIALLY a 12- is that you will have to outlay a tremendous amount of time energy ad cash to really sort the car. These cars DO NOT like to sit.

If you can find one for sale by a private owner- by an enthusiast- I think that would be worth a serious price premium to know that the car has been looked after and is currently road worthy. Those of us who have chase FI gremlins and fuel smells and intermittent electrics can testify to that.

 

A "frequent flyer" on the dealer circuit with appearances at 3 dealers in a few months. Happens a lot, not sure why.

 

Coming back to this thread, unless I saw dated reliable service records during the thirty years since the car was delivered confirming the mileage at each service, there is absolutely no way I would believe 2,175 miles in just under thirty years. 400's and 412's weren't bought and put in garages or museums. Wherever they were sold, these cars were used by their owners, most often as long distance autobahn/autostrada 'routieres'.

Last spring I bought a 1986 412 from the vice-president of the Club Ferrari France, a three-owner car with excellent provenance: the car was delivered in Switzerland to the first owner, the Comtesse Gerlinde di Picciotto who used it until 1999 driving 35,987 km, then to a French owner who drove it 28,063 km, then in 2009 sold it to my guy who put 24,925 happy kilometers on the car, a total of 88,175 km, a modest 54,791 miles in 31 years or 1,768 miles/year. Fortunately all service records came with the car, the Ferrari factory service book came showing service during first 50,000km and all subsequent service through last March 27, 2017 when my seller had a full service done and rebuilt the front suspension with new bushings and, at my request and expense fitted two new TRX's - the other two were new last year. Clearly this car was well-used and very, very well maintained.

 

Huh, not sure how I missed this thread, but I’ve owned the 86 412 5-speed (#63321) referenced at the beginning of the thread since about the time this thread was started.

I purchased it from Gullwing, but the car had an interesting journey to get to me. The transition was:

1) Bobileff puts the car up for sale on behalf of one of their clients - Bobileff had maintained the car for a while and knew the car well, as documented in Gary’s for sale ad linked above.
2) Bobileff sells the car to Driver Source.
3) While the car is in transit from San Diego to Houston, Gullwing catches wind that the car was sold to Driver Source and strikes a deal with Driver Source to buy the car... the car never makes it to Houston and get rerouted to Gullwing in New York.
4) Gullwing puts car up for sale and I instantly fall in love and strike a deal with Gullwing to buy the car and bring it back to California.

As mentioned above, Gullwing doesn’t always have the highest caliber cars, but they’re straight shooters about it. My car was in comparatively much better condition than other cars Gullwing had at the time and more in line with what Bobileff usually sells.

I’m the fourth registered owner and it’s an absolute joy to own/drive this 5 speed, California legal unicorn for 2+ years. I have all documentation, including Forza magazine article where it was highlighted back in the late 90s. Not letting it go anytime soon! My only regret with the car: I didn’t get to it sooner before the sequence of dealer exchanges I outlined above and inevitable cost margins were added along the way before it got to me. I’m just glad 63321 is in my garage.

Cheers,

Ruben

 

They really are such quietly splendid cars Ruben, a pleasure to drive and to behold! and the last of the Enzo-era, Colombo-derived 4-cam V-12s.