Got the email yesterday at 5 PM, already showing as sold on their site:...
Got the email yesterday at 5 PM, already showing as sold on their site: https://www.gullwingmotorcars.com/1982-ferrari-512bbi-c-3257.htm?make=ALL&model=ALL&bodytype=ALL&stock=21923&&utm_source=%23+21923+1982+Ferrari+512BBi&utm_campaign=Porsche+356&utm_medium=email
Good day, Just adding the info. Does anyone know the chassis number? Cheers, Sam Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
I see a lot of his ads in the 'Ferrari Market Letter'. Seems like he offers a lot of higher mileage "drivers" at pretty reasonable prices. He is also quick to point out that many of these cars are not perfect and will need some servicing.
A 189K car needing 50-100K to be really nice. So good ones should still be in the 250-300k range, great ones more than that.. Based on the pics I would say well sold.
If you've never been to this place, you have no idea how bad a car might be. Been there a few times and never saw a car I would want to own, unless it was a very old exotic and I needed a car for to do a full restoration. He's not giving away anything.
According to Yellow Compass the Ferrari standard trans market is moving up. So I would say you are spot on with your estimates. Of course I have no bias as I own 2 standard trans cars.
Boxers peaked at 400k a few went for more in 14. Market is off 25-30% so yes I think 250-300k is the price for a good one, which would as we know work out far cheaper than trying to restore the 189K one.. Ill call this one very well sold.
Good luck restoring that car for $100k unless you want it half done. That's a rough car where you can't cut corners and must go through every thing.
I only see on the pictures that the car has been driven and used very good. and that is what it is for. not standing in a museum. and I prefer a car what was driven often than a car standing around several month or years. so in my eyes it was a normal price for the seller and for the buyer where else you will find a BBi for under 200k? the cheapest one just now in mobile.de is in netherlands for 198k , so about 225k US$
I would think about $50,000 would go a long way to making it very nice, assuming it is all there. Not concours, but very nice. Major engine service or engine rebuild, that is the biggest unknown. Suspension refresh- New rubber etc. Fresh tires Clean up the interior And of course get rid of the fender shields. If you go this route the advantage is you know things are done right, by your own trusted people.
as you said, the biggest unknown....... when i bought mine, it appeared perfect.... then i wanted it checked over mechanically because i was scheduled to use it in the giro di sicilia....and then we discovered that it probably needed a full engine rebuild because we had no idea when the last service was done, all the gaskets were brittle, a couple injectors were not working correctly, etc. and then it followed the normal course of 'while the engine is out.....', so we did the transmission, the suspension, the brakes etc. basically every mechanical element was renovated prior to my departure for sicily. luckily for me, the cost was capped as i had done a deal with the mechanics who did the work, but had i not done that deal, the bill would have easily been close to $50k. once back from the giro, the car went to the same place for new tires to be fitted....and it was stolen to order....(old story told here at the time so i wont repeat it), when it was recovered it needed a paint job, the interior renewed, and a new clutch, and all that was covered by the insurance company and came to $75k. i would not consider it fully concours level, but it is probably pretty close, and a great driver. but you can see that this level of work already comes to nearly 3x what you estimated, and mine started out much better.... my guess is that if you wanted to make this car merely drive without blowing up or leaving you stranded, the first bill might come to the 50k you mention. if you wanted it to present well then add at least another 30k, and if you wanted it to be back to the way it left the factory, add at least another 30k+++. these things never end where you think they should and they never stop costing you money. but the good news for the buyer is that he bought it within the price range that allows him to do various levels of the work described and still be within the right envelope.
Ok lets assume the advertised motor rebuild 7 years ago was done right. Thats an assumption given the way the rest of the car looks, but lets go with it. Ill assume it needs at least an eO by now and suspesion redo. Whats that cost 20K? To make the car really nice it clearly needs paint and inetrior, whats that 30K? 50K? Add in some while youre at it itits 10K. Realisticaly though this car looks like great bones for a restoration. in any event to make it a hard charging driver imo is at elast 20K, that puts the price of a mechanicaly good but cosmeticaly ropey boxer in the low 200s. Of course if you can do the work yourself and dont mind the cosmetics, and assuming nothing really amiss this was an inexpensive way into a BB. Does make that burned out Bb they were asking 175k for seem really expensive. Maybe this means I can find a boxer shell for under 50k so we can start on the BB competizione build. Image Unavailable, Please Login
Agreed, 50K may get the car mechanically sound. $100k+ will be required to get the car mechanically and cosmetically up to speed.
Right now for a platinum level one. 330 2+2's are back down to low $200's and nice ones were $400k couple years ago too. Market will settle platinum cars $175-210k, nicely higher for 365's. Average cars will start coming out $150-170k.
Don't worry they will be150K soon. ;-) Because all the folks who paid a bunch will want to dump them at half price and the others who have had them for 20+ years will be looking to pull out. Yeah sure. If that happens then Dinos will again be 150K and 330GTCs will be 240K. I heard this same story from Jim G during the financial crisis and it was utter nonsense.
Plenty of demand for well priced cars. Prices have settled to just about where they're going to go. Only reason for overhang right now is the selling off of investor inventory. Once supply dries up prices will stabilize and even gain.
