250 Lusso available. Is this price considered high or low?

Here's a Lusso currently available. Do you consider the price high, low or correct? It is noted that it has the wrong engine.

http://www.copleymotorcars.com/?showroom=1963-ferrari-250-gt-lusso

Thanks,

 

Should probably place this into market (speculation) section.
Mods ?

 

Are those wheels and tires correct? They look pretty thin/small?

 

It's not a matching number so that's why it seems cheap and not original paint.

Id paint it back to azzuro. Wonder if it's possible to trace the engine back and how much would it cost to buy it.

 

Other than the engine and paint, it all looks absolutely correct and quite beautiful to me.

 

so hard to assess from photos but agree it looks lovely and I didn't expect to see such a low retail ask anytime soon, even given the engine replacement.
agree this thread belongs in market forum

 

It looks like it has 70 series tires, I agree the car looks a bit low and the tires don't quite fill out the wheel wells.
Non-original engine and color change yet Classiche Red Book certification?

 

Doesn't need original engine or original colour to get Red Book certification but non original parts including the engine have to be of the correct/same tipo. These details will be stated in the book and will say that the engine is not the original one. Cars with Red book certification are not all equal.

 

Thanks Steven.

 

Personally, I think it’s extremely high.

But I’ve been through both Ferrari run-ups.

Matt

 

Correct type but non-matching numbers engine makes usually difference of 20 to 25 percent.
That's the market. The red certification book has zero influence here.
It should be in every owner's personal interest to undertake every possible effort to get his original matching numbers engine back.

Here's a photo of the Lusso which has the original engine 4513 GT in it today.

Marcel Massini

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Normally it does not matter if a car has non matching engine ,which engine number it is , so long it is the correct type. However experience suggest that changing one for another is very complex as the party who has the original engine wants to get a piece of the perceived increase of value of the car who subsequently will be a matching engine car. Which makes the efforts to bring back the original engine to the original car akin to negotiating a ransom in the Middle Ages!

 

Hi P.

I do agree but it's the market that speaks re price.

Marcel Massini

 

All things being equal, possibly engine condition in both cars, cannot be identical.

There are always different wear and usage issues in two equal cars.

Please correct me if wrong.

Regards, Alberto

 

250 Lusso cars originally had 185HR/15 size tires. Those European "hard metric" sizes were 83% aspect ratio tires. Meaning taller than the 185-70R15 that are currently available. The wheels are correct but I suspect the XWX tires on this wonderful car are the shorter 70 series tires.

 

The price was reduced to $1,395,000.00. Now it simply says call for price. 3-1/2 months with no sale for what looks like a beautiful car . . . The engine issue has to be a factor here. Do you agree?

 

I think the engine mismatch is the problem here, for sure. Really, it is hard enough to sell an expensive collector car, who wants the added headache of a (major) story and apology?

 

But it does come at a 700k discount...

 

If you are looking for a bargain, then it might just be your car (as long as you don't hope to ever resell in the future)!

 

A soft market and a car with a story makes for a difficult sale. Price sells anything.

 

OK. So, knowing all that, what price would be safe?

 

There are few recent recorded comparable sales out there. K500 lists an Excellent Lusso at $1,800,000; average $1,400,000; poor $1,200,000. These are based on auction results which in a softening market are lagging indicators. In this market climate only the very best cars sell, cars with issues have to be aggressively discounted. At $1,000.000 or less it is probably a No Brainer but I'm not a check writer so take that with a grain of salt.

 

I believe a high quality no stories Lussos can be bought at $1.5-1.6MM today. Take out 15-20% for NOM and any other faults they might be there and probably in a range of +/- $1.2MM would be the right money on that car.

 

Agree, and if you plan to enjoy using the car for the rest of your life, count your blessings there was one out there with a non-matching engine number out there. And buy a Dino 246GT with the money you are saving !

 

Nah. I'd grab it today, and someone will grab it in 10-15 years. If I owned it, I'd drive it, and get 100% of the Lusso experience at 70% of the price.

Now, if you're a collector looking for trophies at shows, diff story.

It would go back to blue, tho...