328GTS hammers for $250,000.

RM Auctions at its London sale on September 8th, sold a 89 Ferrari 328GTS for 156,800 pounds. The car was red with tan and had less than 200 kilometers. The conversion factor of 1.60 is just over $250,000.

 

Damn!

 

i will put mine in a bank...

 

In clinical terms, people have lost their ever-loving minds.

 

hahaha...I told you so ! I'll sell my 17k 328 for $200 000...

lol

 

I hate to do this to you, but I'll let my 70k '89 go for $199,000!

 

I keep telling you guys 328s are appreciating assets!

 

That's a bit rich don't ya'll think?

-F

 

These cars are made to be parked.

 

That's just beyond nuts...

 

again...happened in the 911 world...US prices will follow ROW prices. I am not trying to hype the market. Just more or less a friendly warning that the prices will rise..and rise faster than you expect.

 

Bubble Bubble Bubble..............................POP!


It is about 18 months out.

 

Imagine had it been a GTB

 

Then it would have sold for less! - GTS' are far more sought after than GTB's in the UK.

 

At 200 km it's a show piece. No different than someone buying a $250K piece of art for the wall except that it takes up more floor space. Not indicative of the real market at all.

 

Yup, Europe bought (nearly) all of the GTBs. It's the reverse over here.

Even so... I would have expected $100K-$150K all day long. But $250K?!

 

I'm up to my ears in Dutch tulip bulbs and Cabbage Patch Kids......

 

It was actually red/crema

1989 Ferrari 328 GTS | London 2014 | RM AUCTIONS

 

Usually there is a larger demand for the GTS but for a car in this class which is not being purchased for driving I think the rarity of the GTB would have meant it would have sold for more.

 

Crazy car - never driven - museum piece but still indicative of rising prices.

I know a few similar cars in totally immaculate condition with more miles on the clock (and driven occasionally). Wonder what they are really worth. One has just reinsured for 70K pounds, but I suspect he is undervaluing it. But then the higher the value you put on it the higher the premium. As he said to me, you need to value it at price that it won't be written off if you have a big prang.

 

These models are appreciating like the Dino's!

 

Not a good comparison as the supply of tulip bulbs and Cabbage Patch Kids continued to increase with demand until that demand was met. The supply of 328s is fixed and the number produced is well known. A bubble can exist but usually after a sustained period of growth. 328 prices haven't appreciated until the recently. They are aligning with $400K Dinos and $1,000,000 Daytonas. I don't think we are in a bubble scenario.

 

I think it is closer than that. I see red hot pockets and "irrational behavior" for many type of assets. well some some to make money now,it takes some to lose money later.

 

I know all that....just my lame attempt at levity.

I do think, though, that prices are reaching the panic-buying/pure speculation level. Of course, this sale was in the UK/Eurozone and although the market for collector cars is global in theory , in reality prices have been much higher there than in the US for quite some time. I have yet to hear a rational, provable explanation for that phenomenon.