FS: $160k black 74 GTS - Is this OMG's?

Saw this on Sheehan's website

http://www.ferraris-online.com/pages/carintro.php?reqcardir=FE-246GTS-08076

Looks kinda like OMGjon's car?

 

Didnt he blank out the side reflectors?

 

kinda?

 

Nice clean Dino. Looks very loved.

 

Since the right rear quarter view of the car in MIchael's ad is the same shot that omgjon won the photo contest with, I would say that it was his car.

 

Yes...on the red-soon-to-be-blue car he is currently restoring.
No...on the black car.

 

Gorgeous car, don't get me wrong. They have basically doubled in value in the last 5 years, from my accounting.

This pricing, IMHO is just over-the-top. And given the source, I suppose not to surprising. One of the wisest men of the modern era coined the phrase "irrational exuberance". Me thinks he also pined for a Dino...
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Five??

They've almost doubled in rhe last two years.

I passed on a nice driver GTS, with books and tools less than two years ago at $84K. Passed on a beat up GTS this spring at $85K, that re-sold twice in the three weeks after, ending up at almost $100K in that period of time.

Good GT's are $80K+ now great ones are over $130K a good GTS is over $100K and great ones will pass $200K in the next six months, and I'm sure some cars are trading there now.

The only part of the market I can't understand is the gap between GT and GTS prices, which I think is wider than in the past.

DM

 

Dinos are getting sooooo expensive. I think 308s are going to start going up in value. They made 12,000 308s so there are a lot of them but they are a bargain at $30K for a nice one.... That won't last....

 

I read someplace (one of the British classic car monthlies, I think) that GTSs have to some extent fallen from favor in Europe and that the price gap there has in fact narrowed considerably in recent years.

 

I don't think it's omgjon's car - his had black leather.


Peter

 

And with no disrespect, can you make rhyme or reason of it? BBi and Dino are the "it girls" of the Ferrari world suddenly. Slow and steady price appreciation wouldn't have me worried. But a sudden (24 months?) doubling of the price smells bubblicious to me.

Sadly, the more valuable they become, the less people will want to drive them.

 

Yes it's a same car. S/N matches.

 

Really? I thought it looked like his when I first saw it, but I have the pictures he posted here of the car and it has a black interior. Maybe he and his son re-dyed it before selling?

Peter

 

He posted pictures in the thread "Coming to Ferrariads.com" in July.

 

Wow, after spending all that time and putting heart and soul into his restoration I'm surprised he is selling.

 

Yes, it's my car that I use for a model when I get stuck on mine. It is only for sale if the trade I'm trying to do works out. The black car is really clean and runs really well. The leather was not redyed, but new. It's a Calif. low mileage car. It lived in Newport Beach, most of it's life. No it's NOT the restoration project. I wouldn't sell that one for $300,000.

 

i couldn't disagree more, and yes i have a vested interest in dino value's. dino's and boxer's are the last of the group of "undervalued" ferrari's. other than obvious trends based on age, when 430 spider's are still selling for $100k over sticker almost two years after they hit the us market, these cars are a steal.

i started buying dino's for a couple of reasons:

1. i love them and they way they look
2. i feel they have a good chance for appreciation (with most people that lusted after them in high school coming of age to buy and the baby boom generations future in terms of having it now and transfer of wealth that is to come in the next couple of years), the early 70's cars are the next in line
3. when ferrari itself have a vote for the most beautiful ferrari, the dino won - which shocked the heel out me
4. they were too cheap

i am not going to argue dino's are $250k cars, however, they sure as hell aren't worth less than $75k. if given the choice, i would choose a dino any day over a typical $75k modern sports car, and i think every one else would too. granted i am in texas and a/c is very important, but as we all know dino's a/c's aren't worth a damn. given this, i would still choose a dino and sweat.

the fact that dino's have doubled over the last "five" years is irrelevent. in fact they have only recently doubled. i have four dino's, having bought the last one in march, i have never paid that much for any one car. a fellow fca member here in houston bought an 11k mile daytona in april of 2005. an all original car with full books/tools/records. everyonme thought he was crazy for paying WAY above market at $135k, i think he now knows who was/is crazy.

yes, dino's will always be less than daytona's and it looks like daytonas have capped out for the time being, but good dino's are still not worth $60k

 

trade, what trade?????

this dino was a car i was looking at before you bought it, unfortunately, i couldn't come to terms with the seller. although not a concours car, it is a damn nice car for the money. besides that, it won the dino photo contest. if the trade works out and someone is able to buy this dino, there is no doubt they will be happy.

 

in europe, the difference between the coupe and spyder have always been less than in the usa. europeans, have always had a prefernece towards coupes, where as americans like the open top feeling

 

there are half as many gts's as there are gt's. price, historically, have been that a gts bring about 25% than a gt. i don't think prices have wandered too much from that area, although one would think. there have been very few gt's come up for sale while there have been numerous gts's.

i find it hard to believe that anyone would argue that the gt has a purer line and looks better, when comparing the two.

 

me too.

Agreed... it just seems like the price appreciation has been pretty fast and furious.

Absolutely agreed. It just seems like the rate of ascent has been quite dramatic. If drivers/average cars level off at $120, fine. $160+ gets pretty crazy, in my opinion for a non-Pebble car.

 

May I ask why did you decide to use Sheehan to sell it?

 

Oh, ok, good.