Is this a bubble?

Thanks Hannibal
That would have been a great buy.
Plenty left over for repairing,reccommission etc.
I am naturally optimistic ,and feel that deals like this are maybe not
common,but not impossible to come across.
As an aside I remember in very early eighties when I just got my licence
and paid £3k for a fast ford escort,246s were £5-£6k.
How things change.
Paul

 

+This

I was born in the late '60s, and to me the 246 is a much prettier car than the 3x8, I own a 328 but my heart still belongs to the Dino. However, I can absolutely see someone who was born in the '70s or early '80s saying -- hand on heart -- that they believe the later car to be the better looking of the two.

So while for me the 246 will always be a really special automobile, I can see later generations pushing the 3x8s up to one day be a more valuable car than the Dino.

I think this is happening with older U.S. iron. I've read more than once that Chevy tri-five cars are as valuable as they're ever going to get, later generations just aren't interested in them. I don't see why the same won't happen for Italian cars.

 

I see classic car era ending at about 1988, which was the last year for the BMW M5/M6, and pretty well anything with style. after that it become cookie cutter designs. kids now-a-days buy 10 year old Honda civics and accords for $5,000, than spent $20,000 on tires, wheels, bodykits, exhausts, rear spoilers that stick out 2' into the air (and they do not understand the negative physics of having a large spoiler on the rear lid when it is a front wheel drive). the only car I can see currently that may have long term value is the SLS AMG but in about 20 years. so I believe our collector cars for the next 20+ years will be those which are, for the most part, from 1988 and older. as population numbers increase, people inherit their parent's wealth, and they want what the parents had, they will be looking to those 60's to 80's vehicles for some time yet.

 

Can you guys please explain to me why the 246's are so enormously expensive these days ? What caused them to rise in price so extremely ? Yeah, I know, will have something to do with supply and demand, but I would be interesting in the trigger/cause of it. I can imagine/understand early 308's following the 246 trend, though totally different you could regard them as contemporary. But you can't really say that from 246's and the 250/275 series now, can you ?[/QUOTE]

I have a rather unique idea as to why prices have gone up in the collector car market. It is only a theory, so don't flame me too bad, please.

I think a trigger for the quick escalation in classic Ferrari (and other European makes) prices was when the Cyprus government, a few years ago, confiscated monies in excess of $100,000 in bank accounts in their country, so they could receive bailout money from the EU and IMF. I think this terrified big money Europeans. I am sure finance ministers all over Europe took note of this and thought it was great idea, especially in the PIIGS countries. This, IMO, sent big money Europeans, in droves, looking to buy assets that are less likely to be confiscated, like fine art or classic cars. This would also explain the difference in price between the 246s and the 308s. The European rich are older and don't view the 308s as classics, but as modern, used cars. They view 1973 and older as classics. This would also explain why the European classics have appreciated much more than the American cars. Europeans prefer European cars.

I have not seen one, but I would like to see a graph of European classic car prices before, during, and after Cyprus' actions. I don't know for sure, but I think the results would be telling.

Anyway, I have to go get fitted for my tin-foiled hat.LOL Let the flaming begin!

P.S. The 308 prices are no where near a bubble. The final stage of a bubble is called the manic phase, where prices go beyond any rational explanation, like Nasdaq 1999, or home prices 2005. The 308 prices aren't even close. Older, classic Ferraris maybe starting to enter this phase, but, if my theory is right, the only thing that will burst this bubble would be rich Europeans regaining trust in their government, which I think is very unlikely considering the sorry financial state European governments are currently in.

 

The Classic Era is ever changing.
Once it ended with WWI. Then with the Thirties. Then...
As period technology is eclipsed it becomes classic.

 

Does anyone here feel a Volkswagen bus should be selling for more than a vintage Ferrari?

 

Let's see how the Scottsdale auction action wraps up this month. There's bound to be some 308/328 stuff crawl out of the woodwork and this should be a very good reality check on actual money changing hands.

As far as Ron Pratt, I, too, saw the BJ 30 minute commercial for all of his stuff coming up for action at BJ. Smelled fishy to me on being evasive about the real reason for dumping his entire collection. Best guesses I could come up with are 1) -He- thinks things are bubble, 2) He has real money problems, which seems unlikely, but could be his real situation, 3) After $$$ changes hands, we'll find out he has some sort of terminal disease and wanted to wrap things up sooner, rather than later.

Collectabe markets of all have gotten a boost in recent years due to $money$ chasing return. Free money, courtesy of the Fed's zero interest rates, combined with the economy recovering somewhat means there's lots of cash floating around looking for a place to land.

 

I know, right?

 

There's a vdub bus on eBay for 220k starting

 

I know we think of a 246 as ridiculously expensive, however they really aren't much more than a new 458. Considering that depreciation wont be near as bad as a new 458, they don't look so bad, and honestly I would look at one as an alternative to a brand new Fcar, although, I must admit I dont find the 246 quite so visually appealing.

 

Quite right ..... no one seems to be overly concerned about a $300k FF or $450k F12.... i know i would much rather have a 512TR and a Dino 246 in my garage!
BR,
Jez

 

'84 308 listed for $99,999 at Ferrari of San Diego... They should have just been brave and added the extra $1 to reach the 6 figure mark!

1984 Ferrari 308 GTSi GTS - La Jolla California area Ferrari dealer near San Diego California ? New and Used Ferrari dealership Chula Vista El Cajon Oak Park California

 

It's so great to finally see these car start to get some long over due recognition!

 

Wow... I bought my '85 there last month. Now I feel like I "got a deal". But lost my parking space in the showroom.

They had several interested potential buyers for my car before they could list it on their site, so I bet they were happy to find another one. Still, $99K...
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Amen to both.

 

To my eye, the photo set in this F. of San Diego listing does a fantastic job of illustrating what makes these cars special. Particularly the shots of the interior. They capture the contrast between a 1970's/80's 308/328 and later cars. Recognition of that contrast is, I think, what's driving the rise in prices.

 

No doubt, the 308 is like a rosso corsa paint smear on the floor compared to everything else in there.

It was exciting to see the foot traffic my car brought into the showroom. I bet this one does as well.

 

That's awesome to see that, with that price, at a Ferrari Dealer!
I wonder how long it will take the sale associates to get used to saying, "If that is out of your price range, we can look for a newer 348, F355, or 360 for you."

 

Dealers in the UK are using POA more and more. I asked about this one - 80k miles for £175k. IN December 2 sold at auction in the UK for around £100k and £125k

Ferrari 308 GTB Vetroresina RHD ? Ferrari for Sale ? Showrooms ? JD Classics

 

what is the history of the San Diego car? $99k - wow! hope it sells close to that...........

 

ha you mean 348 or 360 ;-)

 

I don't know... from a looks perspective, I do like the 355. From a price perspective, I think the 308 and 328 (well-preserved) will be consistently higher in price than the 348-355-360 run within the next 12 months.

On the FoSD page right now, there's only a $40K spread in the asking price between the '84 QV and the '07 F430 Spider.

 

Just got this from AutoTrader (thought I turned these off...)

Cars for Sale: 1984 Ferrari 308 GTS in Grand Rapids, MI 49512: Coupe Details - 390980907 - AutoTrader.com

Looks like it is catching on. Mileage is really low... $80K

This is all great fun and we are all having a great time, but Seriously? Weren't they like $65K a few weeks ago? Really?

Franny

 

Show me the sales.

 

The one I bought (and the three that got away) were all private transactions, three in California, one in Colorado.

Not sure how we would inform you, other than that the cars that were for sale are now gone.

I think the auctions will be a better public barometer.