FERRARI 288 GTO

Yes, that's true with some cars. Scaglieti painted 200 cars rather quickly. Then he let the bodies sit outside...

 

Huh? My original position was that the pricing was high and if the seller wants to move the inventory, he'll have to consider reducing the asking. You suggested that there may be no incentive to sell as prices sometimes go up in the interim. I provided the opposing point of view that the longer it sits, the lower the price may go. As evidence, I offered the 333 example.

Did I miss something?

CW

 

When did you sell that car with 8000km's the begining of last year?

 

Within the last few weeks. My comment was "we just sold", and perhaps you missed that.

If it was a year ago, I would have stated "a year ago".

Hope that helps.

 

Joe, I have dealt with you and I have always enjoyed your knowledge and honesty. I have worked with you before to help put a friend in one of your cars. No I understand what you said, sounds like maybe you left money on the table is all I am saying. That car DK Engineering just sold with 23000+km sold for more then that. I was also mistaken the other car that sold for 1.115.000.00 had about 5000km on it. A little less then yours. Fact is the 288GTO maybe the most undervalued modern Ferrari on the market. Best driving of all four modern collector Ferrari's 288, F40, F50 and Enzo.

 

IF you are talking about 56199: This has had three owners so far.

Marcel Massini

 

May I suggest that one asks specifically about the October 1988 period.

Marcel Massini

 

Will see if I can find out the number of this one.

 

Thanks for clarifying.

 

Marcel: thanks for your sage advice, as always.

 

While I understand people don't want to go on the record as it would potentially drive interest away from this car, is there something seriously problematic with this car that should be disclosed and known? Other than the price, I mean!

CW

 

According to the English "Octane" magazine of February 2012 Finnish World Rally Champion Juha Kankkunen owns a red 288 GTO and a red F40, see attached photo.

Marcel Massini brings this to my attention. Any ideas re chassis numbers?

 

And my original position is racecars and street cars do not equate!

And while some cars such as Joe's 288 may have been a bargin. I would have held out for more if I were Joe. Yes the market has slipped some since 2008 on street cars, but it is coming back and coming back well, and in some cases such as Joe's 288 he sold it for more then he could have in 08. And low mile cars are becoming harder and harder to find. Last I checked there are more wealthy people in 2011 than 2010 and believe the wealthy will grow in numbers. If you CW are in the position to buy a 288GTO I would say the time is now. And that is lowest mile/km 288 that has been on the market in awhile.

And I think Joe will agree as this is what he does for a living. The lowest mile/km cars are always the most collectible. Which in turn bring the greatest return on investment.

 

I certainly agree that the racecar v. streetcar valuations aren't necessarily correlated. About 12 years ago, I had a LONG look at a 288 at Motor Classic. I went with a race car, however. Economically, we've done better with the race car(s), but there's never any guarantee. That was never the expectation, however. I guess you and I are just honing in on slightly different issues. But, trending seems highly volatile (especially now) unless you're dealing in the bluest of the blue chips.

I agree, also, that valuation premiums are likely to attach to the lower mileage vehicles. The reasons are obvious. But, we're also dealing with a car that is now 25+(!) years old. If it hasn't been maintained properly, the next owner may find himself spending considerable sums just to make the car street-worthy once again. Bushings, shocks, fuel lines, electrical components, even when not in use, time out. I've de-mothballed a car or two and know a bit about that. A few F40 owners have also found out the hard way that unless the fuel tank was drained, they've got a nice bit of sludge in there and in the fuel lines.

But, also, if you're a driver (as opposed to a collector), paying the premium may not make sense, as you'll drive off that premium. So, paying an extra $300K for a pristine, low-mileage car may (or may not) make sense if you intend to actually do anything with it more than look at it.

Anyway, I consider a lot of purchases, and make a few. I had another opportunity a few months ago to go over a 288 and it certainly re-kindled my interest (how could it not?). But, I am arguably more serious about other cars (333 is right up there) at the moment. Unfortunately, unless you're in the uppermost stratosphere, we simply can't own everything. So, priorities...

I do love the look of the 288 and lust for one. Likely, there'll be one sitting in the garage one day. But, given the state of the roads, traffic, construction and drivers, in general, perhaps it would end up sitting longer than it should in there, which would be a shame.

CW

 

CW, as the saying goes, when one door closes, another opens.

It remains my subjective opinion that the ex-Jacques Swaters car is one of the finest in he world.

Not only does it look good, but it has been meticulously & fully maintained up-to-date. I'm not certain the owner will sell, but I have an idea he might if approached correctly.

2,200 miles from new, and without any stories.

More images here:
http://www.flickr.com/photos/joesackeyclassics/sets/72157615137722641/
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I agree whole heartedly. If you want to drive it this is not the car. The one Stu Carpenter just sold or Joe's is the best for that. Excitement level maybe the F40 has that, but there is no prettier Modern Ferrari on the planet then the 288GTO.

And if a one off Pollack painting can fetch $151 million then surely something as beautiful as a 288 should never be undersold. And if I were Joe I would encourage his friend with the 2200 mile car to start at 1.1 million and go up if need be. You can always drop price, but you can rarely replace a car that special.

 

I just wanted to comment/compliment on the quality of those photo's, I think I shed a small tear.

 

Chassis number, chassis badge, Scaglietti Body #, U.S. import tag.

COPYRIGHT MARCEL MASSINI
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No disrespect intended but a question that has been bugging the hell out of me! Why do you copyright every pic you post when the vehicles in your pics are not yours, I see no gain from doing this? Explain please?

 

Because I did the photos and own the copyrights.
Intellectual property. It has nothing to do with owning the car or not.

Marcel Massini

 

Joe,

PM sent.

CW

 

Excellent detail Marcel.

 

Received & thanks.

The BBLM was granted by Jacques Swaters to the same USA-based man who received 288 GTO 56331. Uncanny coincidence!

 

Next you'll be wanting to copyright what you write about other people's cars too.

 

Gentlemen:

If a person takes a picture, makes an illustration, or writes a text about any subject matter, particularly if its a subject matter with which he/she makes a living or is a professional at, it is perfectly normal to copyright said material.

Lets all relax over this topic, not really an issue.