Fast N' Loud F40 being auctioned again?

Richard was paid $10k by Miller Lite every time that stupid beer was shown on TV, not such stupid product placement deal..

 

I have seen this car post show and know that it spent time having work done to it to "sort it out".

What I don't know is the extent or even the focus of the work that was done to it. Also, I don't know where that worn was done.

IMHO, without knowing that, it is probably really hard to know what condition the car is really in. And definitely a mistake to assume the car is in the same condition as it was when GMG was done with it. Incidentally, not sure how anyone would really know that even by just watching the portion of the work posted to a show designed to entertain people.

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From what I remember from the episodes, the work was split between two shops...GMG and another Ferrari certified shop. The repair costs spiraled upward rather quickly because of that. Once Dennis Collins stepped into bail out the project I think the repairs were finished off camera.

I don't know of Dennis' reputation as a dealer but I'm pretty sure he'd have the car finished up properly (don't know this for a fact and can only assume). He flips cars as well and has (or had) Ferraris in the past so I gotta believe he knew all eyes would be on the car....especially after the TV show aired. I always thought he was going to hold on to the car, though. That could have changed once he saw the extent of the damage and the subsequent repairs.

I wondered if that was the case. Hell of a gig if you can manage to get it. I'd shamelessly plug Diet Pepsi if they gave me the chance.

 

Yea, he told me over drinks of his favorite (1942 anejo) at a beach bar in Santa Monica when he was out there filming a commercial for Dodge. Now the Lite beer product placement contract has expired so they blur it out.

 

Probably can be accomplished for $3-400k. Then it will be a million dollar storied car...

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Says who? Richard?

I saw the car at Barrett-Jackson after it was "fixed" - the car didn't look good in person and I'm not just talking about the ricer mods like LED lights, red accent paint, wheels, and chrome. Welds didn't match factory, overspray and dirty paint, etc. Things just didn't fit right. My bet is GMG was so heavily subsidized they basically gave it to Dennis and he figured he couldn't loose, no matter how rough the car was. Then Jackson reportedly sold it for a $300k loss shortly after buying it which probably tells the tale of the car's repair quality. I'm also wary of believing Jackson actually paid $742k for the car. Too much TV shenanigans going on to think there wasn't some backroom agreements on the hammer price (discount) and fees IMO...

 

That's too bad. With a bit of effort, time, and most importantly.....money, the car could have been fixed correctly and perhaps sold better. It sounds like they just flipped it, and hoped to God nobody would notice the imperfections they were too clueless to find and fix.

If the car looked as bad as it did, I'm pretty sure they underestimated the Ferrari community (in a BIG way). A big mistake on their part. This wasn't a Mustang or Camaro (like mentioned earlier) where they can cover up mistakes and sloppy work with shiny bits. If someone is gonna shell out to the tune of high 6 figures (or even 7), they're gonna want perfection. I certainly would. This goes without saying. Why wouldn't they understand that?

You can't use the "Hot Rod Building Reality Show" template when dealing with high-end vehicles. They rolled the dice....and lost.

 

Here's the thing though: yes, it's reality TV. But if we watch the motor mounts cut off and rewelded in a different spot, that did happen.

If I see a guy using Bondo instead of lead to refine gaps (for example), it's not entertainment fakery... That's the method that was used.

Certainly the interpersonal drama can be hyped up and focused on during the editing, but the basic construction techniques are often plain to see.

 

Bringing it back to stock and swallowing the damage history bullet would cost north of 300K.

Its bid as is up over 350K already. That takes most of the ambitious purists that want to save it out of the running already.

We will find out just how much money a non purist is willing to spend.

I think it will hammer at 650K

 

Like I said, you (and I) have only part of the story. Who knows what was done to the car to fix it after. Also, who knows what was done to the car previous to GMG being involved. There is no substitute for actually properly inspecting the car and all the associated work receipts.

Sure you can see something you don't like at one snapshot of time, but that, no matter how good or bad, tells you little in terms of where the car is currently.

It certainly would not be the first valuable Ferrari to be worked in by a hack then reworked by a professional Ferrari specialist. The car obviously has a big story--and net net that is not a positive that is for sure relative to zero story low mileage pristine examples. But that is really not saying anything precise about this car.

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Agree, my guess is 650 minimum, although going on very little info from the last time.

 

I'm going to say it will sell in the 7-750 range. The car has become rather famous, good or bad. And that seems to always add some value.

We have a couple of canadians who are bidding on it. It would be cool for it to come north of the boarder.

 

Sorry... but if someone pays over $500k for that car they need to get their meds adjusted.

 

Curious what you think it is worth?

Would be interesting to know what the part value is and what it would cost to fully "restore" the car. Obviously hard to determine as we don't have the full picture.

Awfully hard for me to imagine it goes for 500 or lower though.



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I wouldn't pay more than $400k inc fees.

Parts value probably wouldn't exceed that either. Factoring what recent engine/gear box sales have been along with the other useable parts on this car, I can't see it being all that valuable in terms of breaking. Who the hell has time for that anyhow unless salvaging cars is your business.

I have looked at a few F40s over the last two years and full recon's appear to run $300k - although others have estimated higher on this particular car so who knows. I do know I've seen receipts for a couple of cars that included mechanical refresh, complete paint, redo interior, etc that tallied over $250k... so add in the questions of frame and underlying carbon and I think you're in the 300k ballpark without much of an issue. So factoring that with the estimates of $650-750k being tossed around here and you're brushing up against a million bucks for a car with stories. Seems to me if someone has a mil for a car, they probably have $1.3 for a nice one.

 

I think you hit on the crux of it, what how much cheaper should this car be when in a fully restored state vs a nice example. I suppose the cost of getting this thing as good as it can be will be key. I don't think I would prefer a 1M story car over a 1.3 nice car. However at 750 ish that becomes a lot more interesting. Especially because 550K will buy another interesting car--even for someone with an f40 ;-)

 

If I remember correctly, as I did compare pricing of what they paid for aftermarket vs OEM, they paid MORE for the aftermarket parts , than they could have purchased replacement parts from Ferrari.

S

 

Perfect example to be turned into a LM clone which are becoming very popular with collectors, anyone who thinks this will sell for a song is dreaming, its an F40 still at the end of the day and most of the tat on it can be replaced or upgraded. Has to be worth at least 80% min of a comparable stock F40.

 

Last I looked the car was already over 500k. It will go up more I am sure.

 

There are over 1300 F40s. Thats a lot of better cars to choose from out there. Image Unavailable, Please Login

The GMG car has to be cheap to make any sense.

 

Pretty sure it was a self proclaimed “ expert “ and while the body shop that performed the chassis apart repairs obviously know their way around Ferrari’s , I dont believe they are actually an “ authorized “ Ferrari body shop.
( Its a short list and none are located in Dallas Tx )

S

 

Whoever is the high bidder must be brain damaged or intentionally running up the bids since they have used 24 bids from open to be the top bidder out of three.

 

True - I believe the show said it was the only fame straightening machine authorized by Ferrari...... not the shop per say.

 

There is an interesting article on Hagerty.com about this car, "Fast N’ Loud Ferrari F40 heading to auction again":

https://www.hagerty.com/articles-videos/articles/2019/01/25/fast-n-loud-ferrari-f40-up-for-auction

 

here is another question i have about this car....
whatever you buy it for, how do you insure it?
most companies i deal with will not easily cover a salvage car, let alone a salvage car that has a very checkered restoration story, and a further checkered ownership history, and you want to insure it for $750k so you can go thrash it on track.

so if you cannot insure it, who is willing to take a flyer on $750k ?
and if you can think of THAT person, then THAT person can likely afford a no-stories car, or cars !

 

If you can easily afford that car, why would you need to put collision on it? Just have liability. Actually in some places you can insure yourself if you put a certain amount of money aside for insurance purposes.