Oh this is priceless!

#52533 is up for auction by The Worldwide Group at Keels and Wheels this year. Here is a direct quote from the auction catalog.........

"This vehicle was previously owned by actor George Hamilton since new. When his Malibu home suffered major damage, this car was sold along with many other possessions as part of the insurance settlement. It had 27,500 miles on it when it was sold and while no major damage was evident, rather only a minor dent and a few scratches, it does have a salvage designation on the title. This vehicle still has its original paint. Recent work on this car includes some touch up on the paint and chin spoiler. The interior is entirely new and very well done in tan Connolly hides with correct carpeting and accents"


Yep, lots of cars have salvage titles when they only had "a minor dent and a few scratches".

Now here are the real facts:

#52533
ZFFEB06B000052533
400i Auto
Black/Tan
This car was purchased new in 1984 by George Hamilton (actor) and owned until 1999,
1999 the car was damaged in a garage flood in Malibu California. The car was not completely submerged due to the angle of the parking spot, but the motor's valve train was ruined from the water (an attempt to start the car while the air box had water in it). The insurance company subsequently sold the car to an auto restorer in Feb 2000.
6/03 for sale as salvage Auto Pavillon (PA) $9.5k,
9/2005 offered for sale by Richard (MO) Car has a salvage title.
1/26/2006 Sold on Ebay $20.7k by Richard

Somebody is going to get more then they bargained for on this one.

 

I wonder how bad that circuit board looks after being under water. They weren't great to begin with.

Take a look at this engine photo. Nevermind all the nutty red paint, just ignore it.
If it was taken apart and rebuilt can you imagine what it cost?
OMG!

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DS, OMG just imagine the decision process, "I'm going to spend about $15K - so I think I see lots of red - Ferraris should be red ...... right?". Sorry - I cant get past the paint. I can only think of the corners that were skipped and what is left to do. You are correct again, the electricals on this one are shot, sight unseen.

 

Take a look at the upper radiator hose.

Notice how the thermostat is missing?

 

maybe they were thinkin' "these things always over heat, so run it wide open all the time. That way it will never over heat.....right?" So let's see, oil never makes it to temp, always to thick, over stressing journals and bearings...... "Did I mention it's red, really, just like a 360 !...." Argh.......!@#$%^&^%^&*(*&^%$#@#$

 

This joind the yellow 412 as another posterchild example of a ferrari that you don't want to buy.

Even if it was owned by George Hamilton.

 

DAMNNNNNNNNNNN

 

dstacy, real barrons article on tx wine today, are you in there. also a link to winerys

 

Would you have a link to them?

 

i am such a dummy, cannot figure out how to link. now i cannot find the article! sorry story did mention state issue guide.

 

Well we all need to send our cars to the auction houses. I can't believe it. I'm sitting here shaking my head at the prices at the auction today. I have a couple of cars I bid on but the prices were nuts today. The car that started this thread, a car that had the engine UNDER WATER, a car with a salvage title went for OVER 30 GRAND!
Here is what she looked like.

I'm in shock.

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CLEARLY the buyer was CLUELESS! Won't they get a shock when they start hanging out here or heaven forbid actually try and resell the car! They will take a $10k bath right out of the shoot on that one! You know how it goes at an auction.... "It's a Ferrari! It HAS to be worth $50k!" YEA RIGHT! They are thinking they got a DEAL at $30k and we all know it is worth $20kish??? YEOW!

James
Austin, TX

 

Just noticed the V12 Jag convertible next to the 400...I would rather have had THAT car than that 400!

James

 

But the V12 Jag when new was unloved. Amazing case of as it got older people started to love it.

The Sox and Martin 'cuda to the right might have been interesting. Never been a "straight line" guy but do know that Sox & Martin were significant racers.

Jeff

 

hey i its better for us to be high than low!!

 

most of the time these auction buyers are there to make a quick buck, buy and sell..but to find two that are clueless, because it had to be bidding back and forth unless there was reserve, is hard to find..but like i said before, better for us!

 

Apart from the red engine bits, the car looks pretty good. As long as the repair work was done properly, I see no reason why it wouldn't be a good car to drive. The salvage title might not be a huge problem for some owners.

Aidan

 

For $30k that is a HUGE ISSUE! I agree though that the car may well have been put back together correctly and may well be a good daily machine!

I will be sad if the prices actually trend up on these cars as that will significantly delay my ability to buy one!

James

 

Well it is O-FISH-UL possesion and the title has transferred. Are you ready boys and girls?

You heard it here first..........................



..........it sold for $35,200 !

 

is it time for me to rethink ownership! no i really do not care what these cars sell for or the blip that one car makes. this is not a trend. when i hear that sound driving/idle i am in heaven. those good clean lines from every angle, even the door handles please my old brain. thank you ferrari!

 

I agree, and a license plate I saw at Concorso one year sez it all.
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Right on, I like it!