Will a Mondial T ever go up in price?

A friend of mine spotted a Mondial T in excellent condition. 91 car still at first owner! Will this car ever become a collectible and go up in price?

I believe it's very rare to still find a first owner car of this model?

 

According to a car magazine in the UK, prices for Mondial t HAVE gone up recently, and they now list a dealer price of £18,500 (up £500) for a good one.

As prices of other more desirable models (308,328,etc) rise over £30,000 the Mondial may well gain popularity for people wanting their first Ferrari, and this tends to push prices up.

This has happened with cars like Aston Martin where the desirable models have become out of reach for most people, so the cheaper models have crept up in price.
I don't think you'll see a sudden rise though, just a slow upward trend.

 

It will probably go up in price....if nothing else due to inflation.

However that is somewhat irrelevant. The cost of ownership, including maintenance will make it a money losing proposition to purchase one as an investment. On the other hand, they are fully depreciated, so owing one - and enjoying it - makes them a bargain. You should be able to resell it for (at least) what you paid for it.

 

great package - low volume. Prices appear to be firming up for mint examples. http://users.autoexposure.co.uk/vehicle.cfm?Account=AETA23175&Style=2&Id=AETV65659975&Make=FERRARI&Model=MONDIAL&City=London

 

I just acquired a very low mile Mondial T for what I believe to be a very fair price but I have to say that appreciation, with with respect to the car itself or when compared against other F-cars had nothing to do with my decision. I could have purchased a more expensive car, F-car or otherwise (seriously considered a Porsche Targa 4 as a daily year round driver) but purchased the Mondial because I have always loved it (subliminal inputs of my youth from Weird Science and Lionel Ritchie aside). So, the answer to your question is " who knows, but the depreciation will be less than a new Porsche, but then again maintenance over ownership will outstrip saved depreciation." The free advice is this: if you love it and can afford it, buy it, dive it, maintain it, and be happy.

 

Yes, mine is worth more every year. But you still can't have it.

 

£34,000 for a Mondial cabrio? They will be lucky to get that, even if it's a minter.

I'd say £25,000 would be more like it. And that's from somebody who owns a Mondial t in near concours condition. Mine's a Coupe so I'd say it's worth about £18,000.

 

Yes if Michael Schumacher drives it for a year, ot better yet, if Ronald Reagan owned it maybe. ;-) Just like any other high production run Ferrari, I would not expect it.

Regarding 1st owners vs several owners. Condition is really all that matters. A one owner car could be a worse than a 10 owner car.

 

interestingly uk prices are currently lower than rest of EU http://forsale.classicandperformancecar.com/detail.aspx?ad=20592&d=125 I know of 2 (non-red) coupes sold privately last month for low 20's €uros. Naturally condition is always key. 840 Coupes were produced worldwide.

 

Be mindful of just how expensive these cars are to keep running. I've spent close to $15,000 in two and a half years so that I can sit at Starbucks right now and type this message while looking at my Mondial 3.2. I'm extremely happy with her, and she makes me smile constantly, but the marriage is only a small part of the cost to keep the love affair going.

 

The suspension on that one looks low, it's almost on the floor! You'd not get over speed humps in it.

 

Great post. I think we all know how this feels.

 

I resemble this remark.

 

The cost of Mondials has firmed up quite a bit in recent months. If you stop looking at EBAY, which is the purveyor of nonsense, you will see quite a bit of movement...at prices much higher than you would think. I know one low mileage Mondial 3.2 cab in pretty good condition that has now sold twice within the last year for around 40K. Yes, 40K...and none of you guys ever saw it on EBAY---because it wasn't there.

Selling a Ferrari is not the same thing as selling a Toyota, you need the tools to put the right car with the right buyer. I have more than a few friends in the Ferrari world who do this stuff for a living. In the last three months I have seen a lot of different Ferraris sell for much higher than the peanut gallery on f-chat would ever think they are worth.


HOWEVER, as many have pointed out, the purchase price is almost irrelevant to the equation. If you maintain these older cars to the highest standard, your maintenance bill will completely devoir any possibility for a positive ROI.

 

Peanut gallery?

 

Best summary ever.

 

Best smack ever.

 

I don't know what you guys are talking about, a Mondial is a great investment. We paid $42k for ours four years ago. Spent about $5k in non-routine maintenance and could easily sell it in the mid-thirties. That's only a negative 25% return on investment. Much better than I usually do.

Dave

 

Hey Joe, Why not substantiate this statement. I'm sure the P.G. would be delighted to see some confirmed sales information.

 

FWIW, I was not referring to this forum nor this thread in particular when I was talking about the Peanut gallery, and if anyone took offense I certainly apologize. The 308/328/Mondial crew tends to buy cars for other reasons besides investment potential--which is why, I will always maintain that this is the most enjoyable,friendly and interesting forum on this board.

Regarding providing specifics. On a public forum. Not a chance. Some of these buyers may now be f-chatters for all I know, and I don't think they would appreciate (1) me posting what they paid for the car or (2) being criticized for their purchase price by those "in the know;" also, trying to convince people that Ferrari values are not in the toilet requires as much effort, if not more, than trying to convince people of the importance of regular timing belt changes--and neither seems to have any chance of success. A few of my friends on this board know some of the cars to which I am speaking, and I would ask that they hold their tongue too out of respect for the new owners.

People dump their cars on Ebay. Selling a Ferrari is like selling a luxury home. It requires patience, perseverance and a competent broker. It can take up to a year or more to find the right buyer and get your price. Most people don't have that kind of patience and they fire sale their cars on ebay...and then the peanut gallery uses the fire sale to establish market value.

 

Joe, I'm not offended. Just trying to get some qualified information as much of the information here is as you have stated usually speculation, nonsense or hearsay. I certainly can understand the privacy of a buyer. Anyway, it would be nice to actually have some solid sales information.

 

No/Not significantly.

 

I guess you are correct in what you say.
I wouldn't buy or sell my Ferrari on ebay, unless I was looking for a project/parts car.
If I were well off enough to consider £34,000 a trivial amount I would be happy to ring my Ferrari dealer and ask then to find me a Mondial, and I would pay whatever they asked for it, it would be worth it to me. I would park it in my climate controlled garage next to my F1 and my other six Ferraris and would use it from time to time.
I'm not in any way having a go, I'd love to be able to afford to do that and I respect those who can.
Sadly I'm just a car enthusiast who should really have stuck to old Triumphs instead of buying into something I can't really afford.
I'm the kind of person who will look at a car magazine such as "Classic and Sportscar" and shake my head at the prices people are paying for old cars. £30,000 for an old Mini or £80,000 for a Ford Escort rally car....but of course they are worth it to the buyers in the same way that a wristwatch is worth £250,000.
It's just a different world to the one I'm from.

 

This is not at all what I am saying. IMHO, one of the finest Mondials in existence past through Ebay not too long ago. It belonged to Birddog and won Coppa at Cavillino!!!!!
However, Ebay was not his first choice. There are some FANTASTIC finds on Ebay at very reasonable prices intermingled with all the garbage. You just have to have a discerning eye, a good PPI and a bit of luck to find them. My point, however, is that people use Ebay to gauge the Ferrari market while discounting the fact that the vast majority of Ferraris are sold outside of Ebay and for much more money. I watch the Ebay market and I watch the private market to the extent I am able. The private market can take much, much longer but they are getting prices that puts Ebay to shame.

 

Unfortunately, a 1991 Mondial is more equivalent to an Aston DB7 than it is to any of the earlier collectible ones. You can buy DB7s all day for Honda Accord money, and that will probably be the case for decades, possibly forever.

Values are very solid on the more desirable '70s DBS/Vantage models, built prior to the Ford takeover. And obviously the '60s and earlier Astons are very collectible cars.

Happily, there are Jaguar E-Type coupes, Porsche 356s/early 911s, several vintage Alfas and many other cars in the range you describe that hail from the classic era, are beautiful, fun to drive and have already found a spot in history as important cars. If you do it right, you'll stay in place or maybe realize a slight gain financially. Also, if you read the 'Texas 1000' thread over in the Vintage section, you'll see that a lot of serious car guys have a lot of fun with TR2, old Jags, etc. It doesn't have to be a millionaire's hobby.

I wouldn't look to the '80s/'90s Mondials as a way to make money, due to the maintenance costs that everyone has already mentioned.