Mondial sold way faster than I expected

I listed my Mondial four days ago and got a lot of interest right away and multiple buyers. I am perplexed as I saw a few really nice Mondial's sitting unsold last year when I bought mine. It was a buyers market for sure at that time...I heard lots of people wondering why these cars are so hard to sell and assumed my experience would be slow too. So now I'm wondering if I missed the memo on Mondial pricing or if there's been a sudden big change in Mondial interest. Has the recent spike in Ferrari prices caused a new "demand" for the last remaining "cheap" model? With 3x8's and even GT4's almost doubling in price - am I selling my Mondi at the wrong time? I checked Hagerty (Which I find quite accurate) and my price is right. Has there been some big auction activity I'm not aware of that's going to change the prices next month?

I'm extra sensitive to the recent spike in collector car prices because I sold my flawless Porsche 928 last year and ironically the prices have spiked exactly at the same time. 928's were "cheap" and priced flat for decades....is it that all the last of these "affordable" (Under priced) sports cars are on peoples radar now and becoming the last but next cars to appreciate? Or am I just finding out that low inventory and Xmas cheer make people want to buy a convertible in the middle of winter? lol.

 

It seems (at least in the UK) that demand for the Mondial has increased quite suddenly in recent weeks (despite the usually slower winter UK market). I've noticed those for sale are not around for long now.

From the link below, note this particular quote from the auction house - “undervalued by collectors for many years” and is “tipped by many to be the next Ferrari to rise significantly in value”.

Auction: Rare Ferraris And Alfa Romeo With Delivery Mileage

Rising prices now seem to be another reason to hold on to one of these beauties.

 

Santa wanted a new red sleigh?

 

A lot of those who have been on the fence are having a now or never moment.

 

Low miles makes sense....but what about 48k mile "drivers"? They usually don't jump in price like the garage queens....or am I mistaken?

 

48K miles is high for a collector; however, the number of true collectors (as opposed to flippers who call themselves collectors) is really quite small.

There are lots of people who want the chance to experience an Enzo era Ferrari before they become expensive. For people like that, 48K miles put on a car over 25 to 30 years is nothing....especially knowing how robust these engines can be with proper maintenance!

 

The way I see it is the 308/328 were for a long time, not that much more expensive then the Mondial. When pushed came to shove, people preferred the 'purity' of the 3x8 models and hence, the Mondial was perpetually in the shadow of the 3x8. Now that GT4s appreciated like crazy on one side and the 3x8s on the other - I'm thinking that is giving some 'support' on demand/pricing for the Mondial. Plus - it really did seriously 'bottom' during the "Great Recession" with awesome models in the high 20's low 30s. Now that the economy is starting to recover and the 348/355 models definitely on the upswing - the Mondial really only had one direction left to go. I mean there really wasn't much more the Mondial could depreciate....Mondials for 15K, 20K? I'll buy it right now, if only to part it out!

I think that's one factor in the mystery, the crazy prices for collector's Ferrari doesn't hurt either.

 

Congrats on your sale.

Did you sell it to an Fchatter? If not, where did you advertise? Craigslist, Ebay, Autotrader?

It would be good to know how you received so many offers so quickly.

 

It sold quickly because it was priced right, or maybe slightly below current market value (based on it's description).

http://www.ferrarichat.com/forum/ferraris/471749-1985-ferrari-mondial-qv-cab-red-tan.html

Congratulations!

 

I put in on CL, Cars.com and Ebay. The buyer found it on CL but I had more buyers from Ebay. He's a first time Ferrari buyer with a lot of Porsche in his past, just like me. I think it will be going to a loving home. I pulled the Ebay auction before it ended because I preferred to sell my baby to someone who had spent the time to come and see the car, drive it, review the records, etc. He's coming tomorrow to pick it up with cash. It's the way I prefer to sell any car. However, I've got a slight nagging feeling the Mondial's are ripe for a price pop. I would never guess the Gt4's would have jumped like that. I like them, but given the choice at the time I picked the Mondi hands down for even a bit more money than I could have bought a nice GT4. I get the 308's spike. I regret not buying one as I had one in my hands and let it go because I decided it was a little too cramped for me, no convertible and no back seats (For my kids). I always considered them under valued for sure. Iconic beauty for less than an NSX (No more)! However all the arguments against Mondi values was always because they had back seats and tame lines. So when the GT4's spiked, It made no sense as the GT4's are even less exotic to me over the Mondi - no convertible and they have back seats too. In short, seeing GT4's spike before the Mondial is illogical to me. If the Mondial didn't go up before the GT4, maybe it just won't go up much. Sad because it should be worth at least the same as a GT4 or 80% of a 308.

 

...I guess it was a good deal based on the speed and the interest. Oh well, It's going to good home. I don't think the buyer is an Fchatter but I bet he soon will be. He's local to me. I'll be sure to tell him about Fchat if he doesn't already know.

 

The US Mondial market is still greatly undervalued. I am in the market for a Mondial in Europe (albeit not a Cab). The asking price of the OP (25k $) buys you a high mileage Mondial 8 without full history in Europe. I also believe that, while rising, the Euro Mondial market remains slightly undervalued (308GT4 has gone through the roof here, too). It is implausible why Mondials are still cheaper than 911 SCs or Alfa Romeo GTVs (105).

 

Your price was very good. Mine also sold very fast with 72,000 miles for $25000. When cars are good and cheap they sell. Mondials are good and fun cars.

 

Your price was fair and I feel that you did a good job presenting and describing the car. Your ad had a nice level of detail and it seemed like an honest, no-BS representation. If it had been local, I would have been tempted even though I really want a 3.2 Coupe.

Congrats on the sale!

2cam

 

Congrats! So a 12 cylinder 4 seater now?

I think it is better to do a quick sell and just be under the market price. Eventually if one is stuck with it longer the insurrance and road tax will compensate the quick sell. (At least here in The Netherlands)

I'm looking already for 3 years on prices on Mondials in Europe and it hasn't moved an inch. However I do see more Ts for sale at same prices 2 or 3 years ago. There are exceptions.. One for 150.000 euro.. crazy.. I wish the guy luck in his sale, but I would go and buy the Monetron twins for that kind of Money (fully restored). Or the cheapest at 5.000 euro. Not sure if this guys has been plowing his land with it though.

Search Results: Cars on mobile.de

 

sorry for slightly off topic,

Tijn, the 150k is a 'new' T sold by Bavarian official F dealer. Crazy price, still...but this dealer strangely has a number of new old cars in stock.

price development Europe: problem is, very very few good ones on the market I think. I do believe there has been a 10% increase in asking prices over the last 12 months...long overdue anyways imho.

 

A new Mondial?! I hope for sure this amount is including 21% tax Calculating it back from those days (to get even) In my humble opinion it should not cost more then 75k.. then one might get a buyer. Or perhaps it is a bait for people to see what else they have

I also hear and read the 10% number, but I know 4 people who bought (a good) one within the last 6 months and they were all bought around the price range from the last 2 to 3 years. Perhaps this is a UK increase or appraisers values?

 

Good examples are definitely on the ascent in UK too. That said, I got £25K for my minter T Coupe back in 2012, so perhaps it's been brewing for a while.

OP you are right, good 928's are also on the rise. Just managed to get the right car, but not without some strong counter-bidding !

 

That's great news. As these cars get older, I really believe that the prices will continue to rise (fingers crossed)! If so, my timing was finally right. I usually buy high and sell low!

 

My last two cars. The current Mondial and the overlapping 928 were the first and only cars to appreciate under my stewardship. All my other "toys", and there were many, depreciated. It's uncharted waters for this humble enthusiast.

 

The selling price is already looking like a steal.
Mondials have been trashed for years. As people look for affordable cars their charms will become more apparent. It's about time.

 

Here's when they were stable mates.....my Weird Science movie car collection. Lol
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Still can't resist showing them off even though the 928 has been sold since the summer and the Mondial will be gone by noon.

 

I think you have to own a Mondial to fully appreciate these cars. I bought one ONLY because I wanted a Ferrari convertible. I was looking for a 355 and this car was for sale cheap. I loved it. Would buy another one even a coupe. I learned to love them.

Honnestly I think it's a good thing they are priced low because people are buying them and realize the good car they are. It's not abad thing for a car to be affordable. Personnaly I like the fact that they are in this price range because it is always possible to buy one for a reasonable price to enoy it.

 

I think the boys across the pond seem to be prognosticating that the Mondial's time is nearly here.

From Yahoo UK

https://uk.cars.yahoo.com/news/italian-exotic-red-low-mileage-sale-090500000.html

"Some believe that its value, which is expected to be £50,000-£70,000 at the auction, will rise *massively* over the coming years."

I personally think that it will take at least 15-20 years - so I liken my car to a bottle of wine in the cellar. The good thing about it - it is unlike the wine, I can use (drink) it every day and not run out! -- I do have to pay maintenance fees though...

haha