record price 308GT4 ! Sold for $141,000

I posted the result in the
Official 308 GT4 Market Thread, but I think it will get a little more exposure and comments here.

Sold for $141,000

https://bringatrailer.com/listing/1977-ferrari-308-gt4-2/#comments-anchor

 

There was a clocking issue with one of the bidder's computers. He missed the close time and wanted to bid higher but it was too late. BaT's response was that he should have refreshed his screen occasionally??

 

Great price and great car.


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A Strictly Ferrari / Al Aliardi restored gt4 are the highest quality. A few years ago these were like 125. I’d imagine more now so I really see this sale as market correct for the highest quality car one could get. The only more special ones out there are the first one, which Al now owns and maybe Elvis’s car.

 

Must have been a last minute bidding frenzy! Awesome! I feel bad for the other bidder though. I’ve had the similar happen to me in the past as well.


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Yes the poor guy missed out. Actually he wasn’t poor, he said he had $148,000 ready as a backup bid!

 

Sorry but disagree it was highest quality; to start, the history is incomplete (e.g. original colour unknown), there are missing tools and booklets, and interior shots show above average but not perfect. Michelin XWX of unknown age. The car is perhaps an 8/10. The high price reflects a resale red Euro spec GT4, with some other positives. E.g. Michael Brandon is a respected seller, the recent 28k in receipts, great exterior presentation etc. And don’t forget we have inflation so many assets have been going up fast.

A very desirable car, but not perfect. It all makes me wonder what a 9 or 10 would go for..?

 

Much more!!! [emoji16][emoji16][emoji16]


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after taking a better look at the photos I agree with you saying this one is lower quality- speakers and a couple other non correct touches. They overpaid. This is a 60-70k usd car. I do stand by my statement that a Strictly Ferrari gt4 is the highest quality of accurate restoration on these cars. I would not consider this car restored to original 100%. I would think the price is what a freshly restored “perfect” car should be. Somehow prices are all over the board on gt4’s. We see cars that that should go high but don’t and Vice versa.

 

Nice car, but lots of 'details' if one actually looked. Overall, it reflects BaT more than anything else.

A 10 on BaT $250k plus. Because why not.
A 10 TR 500k plus. Because why not.

And so on.

 

The high prices on BAT reflect a large, hot marketplace, lots of serious, cashed-up buyers getting swept up by the emotion of the competition. If the market cools BAT will also react quickly to the the downside.

I come from Auckland, NZ, which has seen an enormous property boom over the past 20 years. Nearly all property is sold by auction now, but it wasn’t always that way.

Results from traditional classified ads (or small auctions) are slower to react to the broader market conditions because they don’t have the massive exposure to prospective buyers.

 

Larger and more prestigious auction houses don't have those results. Cars bought at those auctions are resold on BaT.

BaT's in another universe for reasons which have a lot more to do with social dynamics than the attributes of a particular model or a particular car.

Price discovery signals aren't what they used to be.

 

Buyer and seller fees are greatly reduced on BaT. compared to big auction houses like RM/Sothebys, Barrett-Jackson, Mecum etc. They charge 10 - 15 percent buyer and seller fees with no cap.

BaT fees:

• Sellers pay a $99 listing fee, with the option to add plus photo package for an additional $250. There are no other seller fees on BaT.
• Buyers pay a 5% fee on top of the final sale price to BaT, with a minimum of $250, and capped at $5,000.

The $5000 cap is a huge plus for buyers of big-money cars. A great advantage for the seller as well.

 

By social dynamics I’m guessing you mean the comments section of BAT. I think peanut gallery can cut both ways depending on the attributes of a particular model. Many potential sellers are wary of the gallery.

It’s not just classic cars that are up, but all used vehicles, houses, food travel, commodities etc. There was an article in the WSJ about BAT last year. How it had grown so much, and from memory the article mentioned a pandemic effect with people looking for ‘socially distanced’ activities pushing up prices. Same for boats and RV’s.

More specific to the GT4, you now have classic car personalities like like Jay Leno, John Pogson, Magnus Walker, Zack Klapman, Donald Osborn and Jason Camissa all promoting the GT4. Both Walker and Camissa have actually bought GT4’s for themselves over the last year (James May publicly sold his 308 GTB last year). Pogson has had his GT4 for longer, a red one with gold coffin wheels.

 

Jay can get one now since it’s a “Dino” after all! [emoji6][emoji1]


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Didn't Leno finally buy a Ferrari, or was I misinformed?

 

Not too sure about that?


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Google says no,
"But despite owning more than 180 cars and 160 motorcycles, he doesn't own a Ferrari. Over the years he has tasted numerous Prancing Horses that include the likes of 1972 Ferrari Dino Monza 3.6 Evo, 1977 Ferrari 275 GTB4, Ferrari F40, the magical Ferrari Enzo, and the wedgy Ferrari 288 GTO to name a few.Feb 8, 2022"

 

And Jay Leno recently drove a 308 GT4 in the YouTube series "Audrain Mansions & Motorcars" (Season 2 Episode 3: Beacon Rock)—and he had nothing but great things to say about it.

 

I’ve been searching for a GT4 for years and almost pulled the trigger many times, but shyed away at the last second. The market is so unstable on these cars and the restoration costs extremely high, although I do almost all my own work. In my opinion this car was way over paid. Nice car but I’m not sure an all original 200 mile museum piece is worth that.

 

How is the market "so unstable" on these cars? Or by "these cars" do you mean all Ferraris? The 308 GT4 is appreciating at the same rate as any other Ferrari, and has been steadily on rise since 2014. There will be a few anomalies here and there that might fetch more or less than the average, but that happens with every model. I'm not sure how that's any more unstable than any other Ferrari.

 

Out of curiosity, since this car is close to my chassis number, I looked at the photos of the transmission number (couldn't read the engine #) to see how close it is to mine, it was pretty far off. Looking further I checked the chassis # on the frame next to the coolant expansion tank and found 2 serial numbers stamped, 14864 and 13586. On the chassis # plate nearby it showed 14864. I did a quick scroll of the comments section and didn't see and conversation about chassis number(s) although I could have missed it. School me on what has happened here.
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13586 is the chassis/serial for that car. 14864 is the DGM approval.

I don't completely understand that as it's a Euro thing, and I'm in the US. But someone else had a similar question for a different car in a different thread a few years back, the following is from that thread:

DGM means Direzione Generale Motorizzazione which is the "approval authority" in Italy, i.e. the authority with competence for all aspects of the approval of a type of vehicle.

The number refers to the "type-approval certificate" issued by DGM (OM=omologation) whereby the approval authority officially certifies that a type of vehicle is approved.

With this number stamped on the chassis every car is registered through the "certificate of conformity", i.e. the document issued by the manufacturer and certifying that a vehicle belonging to the series of the type approved with that number complies with all regulatory acts at the time of its production.

This information "DGM 14864 OM" is stamped, near the VIN, in every Ferrari 308 almost for the EU market (but probably on every car of this type in the world).​

This makes sense in that I have a US model and it has "DGM" and "OM" stamped there, but no number as it never needed to meet and Italian approval. Here's a shot of my car:

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Thank you, it makes sense now.

 

That's not what's driving the BaT results.