Thinking of buying 456 in bad condition

Its a Ferrari, they said. It'll be a blast to restore, they said!!

Wonderful car that is going to break your heart in the process of getting back to the wonderful. If you can take the wallet hit, and the frustration, what a great project!

And this from a 456 owner. This is worse than a street drug and therefore way better!!

 

The most expensive Ferrari is a cheap Ferrari.

 

Parts value is likely around 12000-15000 eur assuming everything is more or less intact. If you can get it for less, it'd be hard to lose on this.

 

My favorite variation of this thought: "If you can't afford a good Ferrari, you certainly can't afford a bad one."

 

Guy Your question raises a lot of questions back. First the basics. What year and is it a manual or auto, desirable color scheme, damages to paint, leather, body (rust/oxidation or accident), etc.
Then, your goal. Is it to own, drive, flip for cash?
And what are your skills and lust for adventure, will you do some or most of the work yourself?

The mileage could be accidental turnthrough of the 1. It could also be the cluster was tampered with in the past which lead it to be sensitive to that. What year is it, the mileage does not seem excessive but if the car is a 1994 and the first mileage record in 2003 is 19k, it could easily have been at 119k at a point.
Financial look at it: take everything that obviously needs fixing, price it, take into account a (large) risk and annoyance factor, and the lack of service records, then subtract all that from the price of a no-story car. That is your max at auction. Stick to it.

 

Which auction house is selling it?

 

Parts car.

 

that'll go for way north of 5k....

 

Being a manual will certainly help the price.

Foto: Izsol?s biju?ajam miljon?ram Bensonam piedero?o 'Ferrari' slikt? st?vokl? - Auto - DELFI

 

Any pictures?

 

See my post above yours.

 

Busted window... sitting outside for God knows how long... probable water damage... mold... electrical issues...

I'd run. But I'm no 456 expert.

 

Unless you know what you're doing and plan on doing all the work on it yourself, be prepared to spend a lot of money. Even doing it yourself, it's going to cost. If you want it to be reliable and a car you will enjoy, there is no such thing as a bargain basement Ferrari.

 

I'll second that, the genuine Ferrari only parts, not counting the Bosch bits, are 3 to 4 time what you expect. Just look at the price of door seals, Their 10 times say a Lambo Gallardo.
Even the tyres are an issue only Pirelli make them, every two years.

Shame as the cars are great things to drive and perform more like a sports car than a GT.

As the old adage goes if can afford a good Ferrari you certainly cannot afford a bad one.

Cheap exotica often ends up bodged and the value plummets to spare parts status.

 

Something like this is likely to be cheaper in reality..

Ferrari 456 GT als Sportwagen/Coupé in Harku

 

run away.
OR, buy it as a parts car.
OR, if the starting price is close to 0, you might end up with a $40k car, that is worth $40k.....

but it might be worth it depending on our own skills, and patience.

 

The hood alone is worth five grand

If you have space, buy it and part it out.

Don't try to resurrect it.

Scott

 

If you can buy it for 7000 you will make money on the engine and transmission. or break even. The parts guys will probably pay more for the whole unit.

 

From a quick search on Latvian sites, looks like a bit of a dud. It was repainted from a lighter blue, has a light (crema?) interior, manual. Owned by a former millionaire dealer and property investor.

Pics show a decent-looking interior, but partially disassembled (bad regulators would be my guess). Apparently it was in an underground garage until recently.

 

Always costs more than anticipated and then there are the issues of parts not being available that stop the job, sometimes for a very long time.

Older cars that were well cared for have hidden issues, it's just the way it is. Cars that no one cared about are a 4 wheeled collection of them.

Several have said in different ways how bad an idea it is to buy a cheap Ferrari. It has been a very hard learned lesson by nearly everyone who has done so but most of us have learned it at someone else's expense. If you turn out to be another I am officially reserving my right to say I told you so.

 

When I bought mine a friend reminded me of a saying Id heard years ago.
Buying a Ferrari is only the initial installment, with yearly large payments to follow.
Initially he was right.

 

Parts car.

 

There will be a long line behind you