Beverly Hills Car Club

There are 3 308 GT4s on their web site for sale. They all look like they need lots of money spent to get them to even driver condition. Would it be considered crazy or financial suicide to restore any of these listed on the site? I am aware that the cost of Ferrari restorations can bury a person financially, but these are great little cars worth preserving. I am curious what any of the members thinks. Thanks in advance.

 

Without even clicking on the site - I am going to say yes, it would be considered crazy.

Generally BHCC has a tendency to ask full top dollar retail for parts cars.

If you want the car for a hobby and don't mind being upside down forever, fine.

 

So I read this thread an decide to check out Beverly hills car club website, they have a blue 75 308 GT-4 listed for $35,000. I call and speak with Shawn ( salesman ) Who tells me it's actually a 208.I ask if it runs as there is a photo of a flywheel/ shield and front crank pulley on the ground in one of the photos. He says "no it's obvious it doesn't run, been sitting outside for many years and needs a total restoration. The engine was seized and disassembled when we picked it up so we put it back together but there are pieces missing " I asked if he can elaborate on that? Was it a broken belt? Was the head off and motor allowed to get wet? He says, " we're not a shop and we don't have a Ferrari mechanic on site that's something you will have to figure out. What you see is what you get." I told him that someone there has to know something about the engine because it sure as hell didn't put itself back together. His response " don't buy the car" A point we both agreed upon.

 

$35K for a 208GT4 that needs total rebuild. Eff that market. It is not that collectible.

 

They're a bit evasive about how they do business. When I was there they were detailing cars, priming some things, there's a shop attached (maybe it's not theirs...?) with a few cars on lifts that were being worked on. Their way of doing business is sort of the Apple model: I don't know anything, that's the first I have heard of this problem, etc. I think they're trying to flip with a minimum of hassle and limited problems / liability. I also think they're primarily buying and selling older cars without traceable histories that are likely salvage. Caveat emptor.

That said, I just bought two cars from them and while they weren't at all forthcoming, they also didn't make any attempt to deceive (at least during my transaction) But, it's always worrying to see a car getting aerosol primer at a used car dealer.

 

Stopped by one day out of curiosity. Sobering.

If they were moving these sad examples of tragedy and neglect to breathe new life into the chassis that would be one thing . . . but what I found in person was actually worse than my expectations, and I could not believe what they were asking for cars hardly worth (in some cases) 1/5 the price.

 

Wow! Thank you all for your responses and information. I have purchased a 328 GTS and 308 GTS in the past at different times from Gary Bobileff. Each needed some minor work as well as my first ever purchase from him, my Lamborghini Urraco, but none need work like these examples. I love the 308 GT4s as it was the first Ferrari I ever saw in the flesh and actually sat inside back in 1982 when I was just a high school kid dreamer. I would like to possibly own one (or maybe a 400i) and would not object to having to do some work as expected on an old car. But those basket cases are out of the question. I will continue to look around and see what comes up. Thanks again everyone from helping me avoid being buried alive!

 

The GT4 and Urraco share a lot of DNA, courtesy of Mr. Gandini. Since you have the Urraco, you definitely need a GT4 to keep it company!

 

Just watched an episode of Wheeler Dealer where they purchased a MGB from this company to restore and sell if that gives you an indication of the state of the cars that they specialize in.

 

They bought that 208 a few months ago in San Diego for $10k. I talked to the owner and was going to look at it on a Monday and he said someone from LA called and said he would buy it for his asking price site unseen. I had a sick feeling it went to BHCC but he wouldn't tell me who bought it. I wish I had bought it just so they wouldn't get it. They are the true definition of flippers. They prey on unsuspecting, uninformed emotional buyers. And it seems to work.

 

Obviously I have no direct knowledge of this company but the world is full of people buying poor examples of everything and anything and applying a huge mark up. The logic being that they can always lower the price but raising the price isn't so easy.

Anyone in their right mind does some research, decides a fair value and negotiates an acceptable price or doesn't buy the car. If someone with more money than sense wanders into the showroom and buys the car, unfortunately that's their look out. People in this category won't even be aware of this forum and its wise sages. (Possibly until a week after they've got the car home )

 

"Anyone in their right mind". Well that's the point isn't it, not everyone thinks like many of us here and will potentially and unfortunately make a costly mistake.

 

Unfortunately the Urraco is long gone to make way for the many great, classic cars I eventually had the pleasure and privilege of owning that I should have kept. Most were bought, serviced and /or restored by Gary Bobileff and Jim Lyons of the Sportscar Company in San Diego.

 

Doing business using the greater fool theory:

The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants.[1] A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.[2][3] Or one may rationally have the expectation that the item can be resold to a "greater fool" later.[4]

 

A fool and their money are easily parted - you will never change this.
And someone will always be out their to reap the benefit...

 

Completely agree.

 

Money was wired into my account faster than seemed possible on just a verbal handshake. Sight unseen they paid market value. I had a hiccup on my end before they picked it up with a failed Magnetti Marelli ignition they gave me some extra time to fix the problem before the transporter arrived, no guilt no harm no foul. Perfect gentlemen. I would definitely recommend contacting them if in the market to sell.
I spoke with Alex Manos.