FERRARI 288 GTO

Great pic...i would like to be inside the cockpit one moment, put the harness, the contact and to leave to make a test.

 

Mexican 288 GTO, picture copyright Eliud Benavides
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I was just checking out a comment by someone regarding the average selling price for a 288 GTO as per Ferrari Market Letter. they point to avg prices over a 6month, 1 year and 2year period as being 288 GTO... $395,000... $361,000...$329,000

when he sent me that, i scratched my head and thought "no way".
anyone know what gives with that? granted ive been watching the market on these cars for 12 to 18months, but i dont recall sales over the last year in the 360 range? not one, let alone enough to cause it to be an average.

 

I think those are low compared to what I have seen and I am the guy on FChat who thinks prices are coming down. That should tell you something. Asking prices are still usually north of $450-500K from what I have seen although they don't trade hands much... A few are posted for over $600K but not moving so I think the market is closer to $400-500K depending on condition. FML is always off a bit but I am surprised they are that much lower than what I see out there in a slowing market... usually FML is low when the prices are rising fast and they can't keep up.

I would love someone to point to a decent condition 288GTO below $350K right now. It may get there but sellers are not there yet in their minds and with such a low number of cars the market may be much lower but who says they have to sell (unless they are forced to).

 

Steve:

For a market man such as yourself, who has also actively followed 288 GTO prices very closely, you know full well that those numbers are pure fantasy, and there isnt even the need to ask the question.

But when was the last time we took market numbers from FML, or Sports Car Market (SCM) to be remotely Gospel? It happens with these magazines. They choose to be in the dark ages on values and then they wonder why nobody who is halfway astute takes them seriously. In fact, I haven't met a single potential buyer who doesn't know that their numbers are well behind the curve. I mean, ask yourself seriously, who picks up a copy of FML or SCM and uses them as the written word on values? I can tell you who

Funny thing is its been that way with these magazines for over a decade! I remember complaining in writing to SCM about Countach prices circa 1999 when their numbers indicated that you could buy an LP400 for $65,000!!! Of course my correspondence was summarily ignored. Better luck to others willing to try and correct them!

To be helpful to readers of this thread I would suggest that the numbers supplied to you as the latest valuations by FML are in fact numbers seen circa 2000 to 2002. So they are only 7-9 years behind. Hey.

 

Matthew,

I know you are including the European market in your assessment and thats fair enough for this global variant.

The high was late 2007 when the ex-Bob Pond car sold for $750,000. In early 2008 the ex-Bruce Lustman GTO and the Ohio car sold for circa $650,000. By late 2008 we saw a few cars move in Europe for circa $450,000.

The last 2 GTOs I have personally sold in 2009 have been $615k and $650k respectively. I can tell you that any GTO that is not moving has concerns that make its pricing seem high: mileage, modifications, condition, stories among them.

Best,
Joe

 

Clearly there are GTOs abroad that can come back to the USA. Be sure to check first!
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The ex-Otis Chandler 57493 leaves California today to a wonderful enthusiast within the USA. Maybe we shall see her again in Carmel in August!
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Hello Joe,

I have a video about the 288 GTO in which Michele Alboreto is interviewed. He is shown with his 288 GTO (indeed registered F909 in Monaco). It has some unique features, like a little badge on the back in the shape of Michele's helmet, which is repeated on the dashboard on the passenger's side (it has the red 'Daytona' seat and dashboard inserts). On the lower part of the front spoiler it has Good Year and Agip decals an a Club Italia sun visor on the windscreen. It has gold wheels too. It also has a OMP pedal set (don't know if this is standard 288 GTO?)

I noticed from the picture you posted that most of these details are now gone. Too bad.

 

Yes I have this video and it is from the late 80s. He had "personalized" the car to say the least and it also included 4-point harnesses and that gold-colored gearbox, which by the way, still remains!

No, 288 GTO pedals have rubber pads...
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Standard 288 GTO pedals.

Apologies for the dirt. I accidentally stepped on them...
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Having a 1980's party Joe?

Ciao!
Marcel ;-)
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100% agreed! i was just more mystified by where the heck they come up with those numbers? that is, is there a way we can ask them where they derive that computation, what transactions are they referencing...but yeah, like you, i would estimate it somewhere in the 585 range. figure those few cars both you and I know about in the 600ish range and maybe a pairing of cars at a slightly lower price...but nowhere near FML's figure.

trust me, i didnt believe it, but i was just curious if anyone knows how they came up with it. seems totally erroneous based on my review which probably mirrors yours.

 

Yes.

Actually I just pulled out my FML (which I must confess I never look at!). Volume number 34, number 7, 4th April 2009, FML makes the following declaration about its "Asking Price Index": "PLEASE NOTE: The above is not a value guide".

As if to underscore how woefully out-of-touch their asking price index is, there is only one GTO in this issue (54805), and it asks $640k.

 

Sumlin's image of this GTO UK-registered B 582 FGC circa early 90s...
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Total drive-train rebuild for 55713...
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Beautiful! Wonder if the customer had the motor/turbos/rear end ratio upgraded while he was at it? The lessons learned for the F40 really woke that power plant up! I suppose for the sake of resale value, he was afraid to change anything. But imagine the thrill of driving a F40 equivalent engined GTO!!

 

just got this 288 original manual

drawings are amazing
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i thought about but luckily i decided to give up LOL
MANY mag. numbers about classic cars shoulb be considered....for entertaiment purpose only for the rarest cars
ruoteclassiche, very nice classic cars mag in italy, quote an LP400 as much as a 91.... diablo

 

He told me that he kept the specification standard for simplicity's sake, rather than for resale consideration.

The usual upgrades such as valve guides/seats and bell-housing re-lining were all attended to I am told.

 

Impressive sight at Bob Houghton's place...
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nice, also it shows how rare GTO and F50 are compared to F40

...still like the brute F40 design more

 

Emilio:

The 288 GTOs rarity relative to the other Supercars is obvious, and the image of the cars in the courtyard at Bob Houghton's illustrates that.

Personally, I more or less like the designs of all the cars as they are representative of the era in which they were made, and I know many see it this way too. No wonder collections of all four exist...

However, its easy to see how the GTO's sublime design is lost on some who appreciate more extreme & radical things.

 

Chassis number? I believe its in the USA...
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me being a great fan of 70's Gandini "otrageuos" design (countach, stratos...) i have to agree on your opinion (yes...extreme & radical worck fine for me )

the GTO design has its pros, for sure: it is pure, elegant, but with a dose of agrresiveness...
beuty is having nothing to add or to lose and i think there is little you would add or lose in 288 body

for these reasons i am sure it looks right side by side with ....let's say an SV miura