New World Record GTC sale

1967 330 GTC @ Gooding - $500,000 usd + commission

CONGRATULATIONS TO SELLER & BUYER!

 

Very impressive result.


Onno

 

US prices are coming in line with Europe......

 

Wow!

 

330 GTC, chassis 10683, left the Ferrari factory assembly line in December 1967, finished in the rare metallic Grigio Ortello over a beige leather interior, a livery the car still wears to this day. According to research produced by Hillary Raab, 10683 was fitted with the Daytona-type half shafts and a cable-operated clutch, desirable upgrades that were standardized later in the 330 GTC production run. Imported to the US in June 1968 by Luigi Chinetti Motors of Greenwich, Connecticut, the car was purchased by local gentleman Christopher Evans in 1970. Mr. Evans would only keep the car for about six months before selling it to Z.V. Seliokas of Pearl River, New York.

In the early 1970s, 10683 moved westward to California and resided in Carmel with Mr. Nunnally, who kept the Ferrari until 1974 when he sold it to Ronald M. Resch, a Los Angeles, California- based attorney. At this time, 10683 was recorded as having 23,500 miles on the odometer. Mr. Resch, an FCA member, kept the car until 1996, carefully preserving its original condition and showing the car at local concours and FCA events. Chassis 10683 passed briefly to another owner before finding a home with the consignor in July 1997. Shortly after, 10683 received an en- gine rebuild by Tiamo Motors in Costa Mesa, Cal- ifornia, and has since been serviced and maintained by Ferrari expert Norbert Hofer of Gran Touring Classics.

The consignor, a long-term Southern California Ferrari enthusiast, has devotedly shown the car at prestigious Central and Southern California concours, where the stunning 330 GTC has won numerous awards and trophies, including First in Class and Best Preserved Car. It has also taken Ferrari Club of America’s coveted Gold and Platinum Awards. Most recently, the car won Gold at the FCA’s Concorso Ferrari in Pasadena, California, in May 2012.

Today this lovely 330 GTC remains in beautifully preserved and largely original condition. It has the feel of a car that has been handled by only a few devoted caretakers, and it has never been neglected or taken apart. The tan leather seats and door panels were re- upholstered years ago, but the dash and console area, headliner, rear tray area and the vinyl part of the door panels remain in original condition. Gauges, fittings, knobs and switches also appear original, and the less than 40,000 miles showing on the odometer are believed to be the car’s actual mileage.

The exterior is adorned by the lovely Grigio Ortello metallic paint, which is believed to be largely original, well accented by the lightly aged original brightwork. Sitting on correct Campagnolo alloy wheels fitted with Michelin XWX tires, this 330 GTC looks just right. Several additional items accompany the sale of this stunning 330 GTC, including a complete tool roll, jack, books in a reproduction pouch, a spare parts catalogue, a workshop manual, the car’s California blue and gold plates from the 1970s and a binder with receipts and history reports. 10683 stands out both in provenance and condition.

 

Appears to have been shown rather than driven........

 

There are for sure other 330GTC around in the same original condition. Sorry to say but nothing with this car justifies the auction result.

The seller must become a happy camper! So - congrats!

 

Stunning! And congratulaions to Gooding and the seller.

 

Just to stir the pot a bit....Walter; what *should* the price of this car be?

Remember; it's Monterey; it's an auction; it's not a Maserati (oooh; now I'm in trouble!).
OK, scratch the bit about Maserati.....

Back to my question: what *should* the price have been?

 

Hey, I am not talking Maserati here..:)
A more realistic price -IMO- would have been closer to $400k....

Yeah - its Monterey and so Tinseltown is not so far away.....:

 

Alright Walter, you passed your first test!

Next question MUCH higher level of difficulty....

Make an informed prediction on the 3500GT going today @ Gooding:

http://www.goodingco.com/car/1961-maserati-3500-gt-0

FX: background snare drum roll........mysterious/sinister

......clock is ticking..............(no fair waitng til 6pm either ;-)

 

If its a good car the estimate is realistic. But its a normal later series car - nothing special! I expect something around $160k for the car.

 

People just don’t get it. I personally know of 2 private sales of high level Gold 330 GTCs in the last 3 months at better than 415K by Richard Freshman-Fossil Motorsports. His take in conversations this morning regarding the Gooding result and the upward movement in the 330-365GTC market was: “The educated purchaser market is finally beginning to perceive that to buy a 330GTC without good provenance, books, tools, with average mechanicals and cosmetics etc in the 300-to 350K range (even if they can be found) and then bring it to high Gold or Platinum level with any of the major competent domestic USA vendors of such craft (Motion Products, Phil Reilly & Associates, Bob Smith, Paul Russell, Tillack etc) takes a minimum investment of 2500+ hours labor (average costs $100 to $125 per hr) + parts, paint, chrome, interior etc. with a year and half wait should you be lucky and that such an exercise would produce a current market price upside down financial result. Additionally well cared for benchmark show quality, preserved, relatively low mileage original examples are a scarce commodity that rarely come to market (last example F40 Motorsports April 28, 2012 FML 11,000 mile SN#10671 at $450K) are becoming more desirable to a wider audience of knowledgeable collectors thus causing prices to rise on those few that do appear. So if one takes all of these factors into consideration then combines it with the option of the immediate availability gratification of the auction, the current trend towards an alternative hard asset investment environment, then mix in the atmospheric Ether of what Monterey has become, you wind up producing the justified result setting a new market highpoint.”

 

The assumption of...
A needed ingredient for the bubble recipe. There is so much puff in the global classic and special car market. When will this one burst?

 

If it does it will be at the same time as all other collectable markets IMO

 

I saw the 330 gtc. Very nice car--looked like 90-92 point car--No Borranis.

I felt $400. all in should have been right--considering it was at Monterey---
BUT--it was almost the last lot in the sale.

$550,000. all in seems very high right now---but some people here thought $200 was too high a few years back.

That is what keeps it interesting !!


Ken Goldman

 

Anybody know who the buyer is? US resident, F Chat member, Europe, Asia?

 

So was Herr Baeumer close?

He's been wrong before,...........

What did 101.2428 sell for?

Ciao and best!

 

I looked at the car, which to my eye was a very nice driver-level. Seemed fully valued and then some at $550. That said, we are all adjusting our mental price guides upward now.

Made the Daytona at $325 tonight seem cheap in comparison.

 

Yeah, that's an interesting one. When I bought my GTC in 2009, Daytona's were consistently more expensive.


Onno

 

And Herr Baeumer was very wrong! (yesssss, I was wrong before - but I also was right many times before....)

The car sold -for whatever reasons!- for a new worldrecord price of $237k.

No idea what made it so special. Even the front bumper was not correctly fitted.

Anyway, congrats to the seller!

AM101.2428
1964, grey/white, inj., body-no. 12060
July 1964 new to Maserati Ageny STAUMONT -Brussels/B
1969 sold to Monique Dufres –Brussels/B
1972 imported to Puerto Rico and sold to an unknown owner.
1985 with Rafael Moreno -Quaynabo/PUERTO RICO
later exported to the USA.
2003 with Richard Gent -Beachwood.OH./USA, now blue/white

 

Maybe people now realise that driving a Daytona is no fun under 60 MPH.

I wonder what comes next. How about a 246 GTS at $467.

Whoops, we are already there!

Ken Goldman.

 

Im seriously PO'ed that I didnt buy the 330 GTC at Ferrari of Boston 3 yrs ago for $229k..................

 

Great to see the values moving up even if the Gooding sale might be on the high side. Does anyone know what 330 GTC vin 9125 sold for on Sat night at Russo and Steele?

Tom

 

...get in line...I called just after "deposit to be sent, if not, we will call you" @%#$$^#%!!