F40 sale prices

Without checking the files I recall 1,300 and 3,400 respectively.

 

http://www.ferrarichat.com/forum/288gto-f40-f50-enzo-laferrari/221741-f40-prices-sinking-fast-asking-below-$499k-no-takers-27.html
(See Post 529)

 

If any one thinks the market is slowly just take a look at what was achieved in Paris last night, 18 million for a barn find 250 California Spider Barn Find.. plus commission. Transparent price, for the world too see. the same as the 288 GTO last month..

 

I don't know Joe from Adam and I don't agree with all his observations and thoughts but I would note he posts them in his own name - I don't know if others would be making the same posts if they had their full name and reputation alongside them

 

ok so a "renowned as an accident-damaged car" sold for 1.2M but my 1.52M sale didn't happen and 2M for an ultra low mile US f40 is unrealistic?

 

Sigh. Waiting for the next recession to afford one

 

fascinating and entertaining to read this thread again

 

i have always posted with my full name and profile filled out. i am not hiding from anybody.

 

It actually hammered for 14.2 million Euros, which equates to a bit over $18 million ALL-IN, etc.

 

I have sold an F40s for $1.5m, so I know its possible.

For example: World Heavyweight Boxing Champion George Foreman's 1991 F40 chassis number 88251 (below).

But that sale was last summer, and I do feel that since last August/Pebble Beach the market for F40s has regressed, as supported by recent public auction results. That's my central point.

That said, I simply asked for a chassis number to go part-way to validating a 1.52 sale took place. As I said, I'm happy to accept that result if I can see any proof. I remain open-minded and we've established that. Meanwhile I have shared chassis numbers, and, if you wish to contact me offline I can validate sales numbers beyond any doubt. All I'm seeking is market reality, for the benefit of all: buyers, sellers, and enthusiasts alike.
Image Unavailable, Please Login

 

can you explain the regress with a EU car selling for 1.3M if the foreman car went for 1.5 and was a US car? I wld think the EU car was worth 1M USD last year, so id say it appreciated. If you are saying the foreman car wld be 1.3m us today, then that car has regressed but clearly the "market" hasn't because we all know the EU car did just sell for 1.3usd.

the car you mentioned earlier today was in accident, so take it out of the running.

lets not kid each other joe, you care about velocity.

if the owner cares enough to send you his chassis number so you can have it for your database, he will....but I doubt it.

 

The regress I'm speaking about refers to the market I operate in, the USA F40 market.

The cars we are selling are bringing less since a high in August, and even the asks are lower. For example, we also sold 93336 for $1.45m around Fall 2014. So, I'm reporting what I'm seeing with just USA F40s.

That said, its clear Eu/ROW cars are still enjoying an upswing for the most part, and closing the traditional gap between USA cars and Eu/ROW cars. In today's market, different variants of the same basic model can move at different rates with some still ascending whilst others are descending.

My request for the chassis number was simply to establish recent sale values, not for my database. I have all 211 cars in the database already, but knowing which car has achieved what value at what time is important for anyone who follows these cars or has an interest in them.

 

so how were you able to sell the accident car for 1.2m - that sounds staggering in this market

 

That was a great deal for the buyer because at the time a 1992 with 1,300 miles would have been pegged at $1.5m. Furthermore, we had Ferrari look at the car and they found both the chassis & body to be flawless, in fact John Amette the Classiche Director (who determined the rear end repairs to be minor) passed it for Classiche Certification. It literally exists as a new F40, one of the last few made.

 

Spin-cycle ...

 

Hold on...with all due respect Joe....I came and looked at that car and could tell from 20 feet when I first laid eyes on it that it had issues...and I am not that picky AND was looking for a "driver" car. The fact that you say "It literally exists as a new F40" is totally false. I had a ton of respect for you until I made the trip from Kansas to CA to inspect this car...still respect you...but not as much

Brian

 

and 1,300 miles on it....NO WAY.

Brian

 

Since you saw it last year, Ferrari Orange County have gone through every aspect of the car, making it indistinguishable from new, and that's the way it exists today. Also, we have service records going back to day one, and the mileage is noted in progressive increments to the current mileage giving no indication that the mileage is anything but genuine.

 

-As much as it pains me to find a middle ground to an amusing debate

Remember the USD has strengthened and the EUR has weaken quite a bit since the summer so you can both be right - given the currency shift is over 20%, even the same car could have appreciated 10% in EUR and depreciated 10% in USD and to someone in GBP (like me) it would look pretty much unchanged - which is how I see them - not that I'm looking - TA DA!!!

 

If anyone is keen, I am selling a 1989 16k mile F40 that presents in concours condition

 

Some thoughts on this discussion. As some of you may know, Joe and I have had some spirited banter over the years lol. A couple of years ago I'm happy to say we connected and set aside any differences and I'm glad to call him a great friend since.

Joe has never once pressured me to buy or sell any car, or tried to use general market statements to capture a sale. What he has done, is set the bar extremely high for transparency and integrity in dealing with buyer and seller. I know this because Joe has facilitated 3 sales for me last year alone.

In the Spring of last year I approached Joe about possibly moving my F40. There was never any pressure and the entire deal was conducted with cc emails between all parties, perfectly transparent and efficient. My car was a '92 with 2100 miles, fantastic condition. While I won't disclose Joe's commission, I will state categorically that the sale netted 1.43m to me, so you can do the math on the total price all in. Throughout this process, there was no pressure to sell or take a low ball offer, no last minute switcheroos , nothing but professionalism and assuredness that comes from facilitating hundreds of deals over the years.

As an enthusiastic lover of the F40, you can imagine I had some last minute second thoughts about moving it. Joe and I discussed the pros and cons but never once did I feel he steered me towards his personal intent...it was my call and I was asking his opinion.

I feel there are some mischaracterizations towards Joe in this thread that simply don't exist in the real world. I'm glad to call him a friend first and foremost and a complete professional at his chosen work. I hope to benefit from his acumen for many buys and sales down the road and would encourage anyone else to do the same.

With respect to prices of F40's, I like to follow the market closely as an enthusiast. I like to know whats happening out there ! There was always a possibility last Spring that prices would continue the rapid ascent but I was content with the sale price point. From actual overall sales and asking prices since for similar cars, I would concur with Joe that the market has contracted about 200-250k for F40's. Believe me, I wouid be happy for anyone who has an F40 to see 2m for their cars, more power to them and well done. My personal thought is that its tough to imagine 1200+ cars supporting 1.7-2m pricetags each. Again, I hope I'm wrong for the sake of current F40 owners and I don't begrudge anyone else's good fortune.

People come to Joe to either buy or sell a collectible car. Joe finds a buyer or seller and matches them up in a professional transparent manner that is completely reassuring. For this, he earns a commission that in my estimation, is worth every penny.

 

Agree Totally and I consider both of you my friends.

 

Look forward to seeing you at Quail Jim !

 

Jas, I had an equally pleasant experience with Joe when selling my Countach prototype last summer but I diasgree with you on F40 prices: it would be great if they went down so that I could justify adding a second one!

 

Hope you are doing great pal, who knows, a couple of interest hikes later you might be adding that very F40

Like I said, its a gut feeling and I'll be happy for all those that can say "I told you so" if I'm wrong !