FERRARI 288 GTO

I know this is a GTO thread, but an interesting piece on mileage and famous F1 ownership.

News: Nigel Mansell?s Ferrari F40 sells at auction for just £543,375

 

Thanks Chris, watch for the proper magazine piece of the Lauda GTO in Octane magazine upcoming next month.

 

Yes, off-topic for this thread, and a poor comparison as they made almost 5 times as many F40s as they did GTOs.

Interesting nonetheless!

 

I don't buy into the 'low-mileage premium' hype at all, and of course I routinely advise clients against being lead into a false perception of value therein.

Granted a delivery miles car is worth @ 10% - 15% more in the current market, but, paying 100% more is pure financial folly, especially for a 30-year-old car.

The market is not nearly as mileage-sensitive as you are making it out to be, and a formula which suggests that a car with the mileage of this GTO routinely trades at a 50% discount is both non-existent and a false premise - I say this sincerely as a professional who has sold many GTOs, and not just as a market-commentator.

The fact that you suggest what you think applies for the F40 market (where there are almost 5 times as many cars) should apply to the GTO market tells me you are simply trying to talk the market up for low mileage cars. I say this with all due respect, but anyone who has been following the thrust of all your market-related posts can draw no other inference.

I think the market has simply softened for certain makes & models, regardless of mileage, and that's the bottom line that some are finding so hard to accept. That said, we should have faith in the market, because it still strong, but hyping it and spinning theories doesn't help.

We just sold a delivery-mileage car this past week for what would be considered by most to be standard market value, both seller & buyer were happy, so not everyone worships at the altar of low-mileage.

Meanwhile, I agree, this GTO will likely bring somewhere around the reasonable estimate Bonhams have set.

FWIW, when I was asked the question wondering what this car would bring, I was simply looking for a number!
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Not quite one lady owner

 

Joe, as highlighted it was off topic, but an interesting piece to show that even probably the greatest supercar made with one of the greats of F1 who was driving for Ferrari when he received his car, can be put into a basket of cars where mileage attract a certain type of buyer as the article highlights.
As mentioned on here before not you or I can influence or talk the market up or down that is pure folly, no one is spinning numbers all the numbers posted on here are correct, maybe another example of a low production Ferrari might disagree.
William Loughran has a 73 Spyder previously owned by Greg Garrison for sale with only 86 miles from new, maybe he will sell it for a discount because it is a show piece.
I suspect it is more than 10 -15 % than an equivalent car with 50,000 miles, but maybe I am incorrect.
As my whole collection is based on provence and mileage, these are the two most important premise of my collection, no one is worshipping the alter of mileage but it is a factor that is very important to myself and many other car collectors.
I wish cars with delivery mileage were 10 -15 % more when I'm looking to buy but they never are.. maybe I'm always looking in the wrong place..

With all due respect we will disagree on the mileage theme, as we both have our own views, one as a life long collector and one as you posted
'it was not particularly a life-long dream, I acquired it in the process of some horse-trading, and a few years later a VIP client asked to buy it and offered a good sum and I obliged. With my position, I'm afraid they come & they go, usually in favor of meeting a client's needs.

 

Perhaps.

For example: there is a Ferrari Enzo with under 500 miles for sale in the advertised market that is priced within 10-15% of the others, still unsold as it has been for many months, in fact its price has recently been reduced to fall in line with current market.

 

Beautiful illustration sent to me by the artist Steve Anderson featuring the 288 GTO & its USA-spec descendants
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Wow that is fantastic! I would love to have a poster of that.

 

STEVE ANDERSON ILLUSTRATIONS

 

The Magnificent Five in Barcelona
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Is there a quality aftermarket wheel manufacturer capable of building a great replica of the Speedline wheels that could fit on modern rubber?

I could only imagine how much better the GTO would handle with such a setup.

Of course one would keep all the OEM wheels for resale.

 

Barcelona is all the better for this gathering! Thanks for sharing.

 

Thank you Joe! Much appreciated.

 

Braid supply an 18" version of the F40 wheel, an owner on here commissioned them to be made, Image also makes copies in various sizes.

 

UR welcome!

 

As recently discussed, you can get modern rubber for the GTO.

 

Found a copy of that AUTOCAR 1987 and it arrived yesterday. Even back then they were commenting on the potential future value of a 288 GTO. Thanks for the AUTOCAR issue tip Joe.

 

What a beautiful photo. Thank you so much for sharing!

What do you guys think about putting modern tires on an older car like a 288 or F40 (I mean keeping the original wheels)? I am all for it- I think for actual driving it makes you safer and you can enjoy putting the power down better and more predicability but I've read a few posts where the author felt better to have the car drive as originally intended - eg keep the same grip characteristics... I mean you would have new versions of the old tires - not 20+ year old tires....

 

I try to avoid driving on tires manufactured more than 6 years ago. 20+ years is suicidal even if the tire was never used.

 

I agree. My rule of thumb with tires is anywhere between 5-7 years depending.

 

Octane magazine, end of next month.

 

As modern as it gets.
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yes the mail is a little slow out here in the Colonies...

Maybe I can dig out the Lewandowski book for now!
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Waiting is not easy.

When you are finished with Lewandowski's excellent book, I know of another red book that may help tide you over...
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