Is it time to buy an Enzo?

I didn't realise that one had been rebuilt. If it's the one I'm thinking of RIP. I assumed it was the crashed Red PCH one that was rebuilt and he bought.

Best

 

About a year and a half ago I was looking at a couple of F-40's in the 350k range. It is my holy grail of car. At that time it appeared the sky was falling so I found more prudent opportunity in the "market" for the money. When I buy an F-40, it will be for the love of the car not for the investment value.
My question related to the original post is this:

Given the potencial wealth acumllation by the emerging super economies and the sheer number of potencial megabillionaires, do any of you see how say, 10 times the current buyers in the realm able to make such a purchase, increasing the value of all the rare super cars 10 fold from where they are now?

i.e. I remember someone on here saying that they could have bought 3 GTO's in a corner of Enzos shop for 20k in the sixties.

 

Has it struck anyone else that there are quite a few Enzos for sale now?

 

i havent. in the US?

 

There are not any more for sale than there normally are, I don't think.

 

Joe, don't you think that the launch of the 599 gto was impacting the enzo market?

It seems that in europ (I can't watch the US market) several samples are now available from owners looking for a more "simple" car, better performance, half the price of an enzo, less "extrem" on the road or on a track, same fun, same engine: I really believe that people "using" their car already sold their enzo (28 available on mobile.de, from 0.7 to 1.1 m €) to jumpt on 599 gto.

Then again, it isn't the same concept, and finally people would come back to the enzo as a pure icon, but today if you want to drive a fantastic car, 599 gto is a very good alternative.

Remember that cars are relatively more used in Europ (from 5 000 to 25 000 km average mileage available)

 

Nope.

Different (prancing) horses, bought for different reasons.

 

There was another one the guy crashed (and the car burned) against a tree a few miles from his home (after a day at the Track)..

Rifledriver knew him....he was in the telecomminications business, IIRC.

They later determined he had died while driving, before the crash. No idea how much of the car was left.....only pictures of the tree/memorial were posted on here, at the time.

 

I agree 100% with Joe. Completely different car that fits a different need. I'm an Enzo owner and have no desire to buy a 599GTO. I was given the opportunity by my dealer to order a GTO and we discussed it for a few hours. I ultimately turned the car down. Just didn't appeal to me. An Enzo is an Enzo. A 599 - even if it is a GTO - is a 599. No comparison (and I don't mean in terms of performance).

 

Was this the Gary Eisenberg Enzo in Monterey?

 

+1... I have owned both and decided to keep my Enzo and sell the 599 GTO. Both incredible cars, but the appeal of the Enzo lasts much longer. Nothing comes close

 

Over here on the bankruptcy docket I keep seeing Daniel Sadek's name on hearings... it didn't click at first but sure enough it is the former mortgage originator of Redline infamy.

For those who care it's case Bankruptcy Petition #: 09-29682-bam.

Procedurally, scanning the docket it looks like he's getting the crap kicked out of him, and has been forced from a reorganization to a liquidation. He's been through two lawyers, including one of the best BK lawyers in town for complex cases (Wright). He tried to re-convert over to an 11 and the judge denied it. Cartoon Network, several banks and lenders on a yacht are all over the place filing motions and trying to have secondary debtor exams. His trustee is a recently retired IRS forensic auditor attorney-turned-bankruptcy trustee. A super nice guy, but not one you want to try and hide assets from .

 

Cartoon Network?

 

Red in IL
http://autos.yahoo.com/used-cars/ferrari-enzo-cars357620226
Mileage: 1,074 Miles
Body Style: Coupe
Exterior Color: Red
Interior Color: Black
Stock #: GC-ROLAND-8
VIN: ZFFCW56A030128799

Red in San Fran
http://autos.yahoo.com/used-cars/ferrari-enzo-cars362597952
Mileage: 2,997 Miles
Body Style: Coupe
Exterior Color: Rosso Corsa
Interior Color: Nero
Stock #: S1023
VIN: ZFFCW56A330131325


Two in Beverly Hills
http://www.rossocorsa24.com/en/dealer/beverlyhillsclassiccars/offerlist.htm
Enzo Ferrari US$ 1,550,000
Year: 2003; 3,858 mi; yellow; Location: United States, CA, Beverly Hills

Enzo Ferrari US$ 1,500,000
Year: 2003; 1,206 mi; red; Location: United States, CA, Beverly Hills

 

As Joe said - no more than normal. There are always half a dozen for sale at any given time if you're looking for them. They don't normally appear on Ebay or Autotrader. They are in the hands of dealers or high end brokers. When I was looking there were three or four to choose from. Just not a black one! Seems like that is still the case ...

 

Well, that one black one DID burn, in France...so (-1) there......

 

As Napolis often warned us, 'deleveraging' is a very painful experience....

 

http://www.ferrarisales.com/view/car/229/

 

Been for sale for a long time.

 

Yeah I was talking with the trustee on his case about that yesterday. This case is pretty weird. Sadek apparently rushed into the second biggest "volume" bankruptcy practice in town to try and crank out a Chapter 13 reorganization. The limit for a Ch13 is ~$360k in unsecured debt or $1m secured, which means that significant RE or a YACHT is going to push you over that... Then he dumps them for an expensive lawyer, who he dumps and goes pro se, which is insane for someone with assets to try and deal with themselves - you might as well move to a foreign country and try and be a radio announcer.

 

I could think of worse ways to go...

-w-

 

joe do you know the story behind this car and what do you think is the market value if everything checks out

 

I certainly don't have the knowledge nor expertise that Joe has but my gut tells me that a REAL number on this car is probably around $1.1 max give or take due to the mileage. I would say if it were a red car it would (arguably) be closer to $1 flat. The 10% premium comes in to play due to it being one of only a handful of black U.S. spec cars.

 

We just sold an as-new red 3,500-mile car from its ORIGINAL owner, surely the most fettled Enzo I have ever encountered. $950k.

Id want to pay $850k for this car. Real money. But with the rarer black color, $900k is realistic. All the rest is 'froth'.

 

joe where is the f50 market right now...5,000 mile single owner documented car?