Its a little different situation this time with the economy, the stock markets, real estate, diversification, new markets, cars owned for cash by real enthusiasts, etc etc. Joe www.joesackey.com
Which car is the better driver? The 288 GTO is by far the better driver... in fact.. it feels and drives very much like a modern Ferrari, without power steering... the seating position is actually quite good, effort, throttle response is better then the F40 IMHO... The F40 is the more extreme track oriented car.. but the 288 is the better driver. My personal feelings is the GTO's value falls between the F40 and F50... but closer to the F40 range.
1 mill is just pure insanity. I noticed how euphoric values were lately given during auctions... why owners are trying to align their expectations on those prices. By the way that GTO for 240k pounds is correctly priced (er perhaps a little to expensive as it has aftermarket exhaust syst and looks overall not ready to fit a collection).
The RM production car sold for $594,000 and bear in mind that was not for a US legal car. It had a Canadian Title and the addendum to the listing was "Please note that this vehicle is eligible for importation to the United States subject to minimal DOT modifications which can be performed by several U.S. shops." Good luck getting that done easily The Prototype sold for 683,000 which for me falls into the "Is what it is" category. AFAIK there are no US cars for sale right now, and to the point of the US F40s there are a lot less GTOs that are here in the US and were federalized in period. Yes in 3 or 4 years time you may be able to bring one in more easily, but its still going to be a ton of aggrevation compared to getting a US legal car. I know that I'm not selling mine anytime soon, and I personally don't care where values go, but I'm glad I've got the car car now. I could have bought an F40/F50 or even an Enzo, but chose not to in order to have the GTO (and a few other cars ). My view is that in 2015, the GTO is a 1m$ car. Also in quoting "owners trying to align themselves" - always remember that buyers set the price. The big prices at Monterey were not set by the auction houses or sellers, but buyers. The reason big prices are being talked about is that there right now is money chasing a small supply of cars. But mostly the right cars, there has been no appreciation in the 400i or any late model Ferraris. Maybe the market will correct, but in my opinion most of these cars are being bought by people that want to own them, not as investments. Now 2.3M for the Steve McQueen Lusso, or 5M for a LWB California, are both IMO overpaying
I like your perspective... youre so right that ultimately it is the buyer who agrees to pay a certain price and by doing so sets a new standard... or not. BTW, is this your car? (front plate: EE.096.AK) Joe www.joesackey.com Image Unavailable, Please Login
Yes yellow is special but contrary to popular belief this lone-surviving prototype GTO wasnt built that way and was repainted from its original red although the former owner states that Ferrari SpA did the work. Joe www.joesackey.com Image Unavailable, Please Login Image Unavailable, Please Login
No disrespect, Mr. Sackey, but your comparison is apples to oranges. Yes, total GTO production exceeds US-spec F40 production, but there were over 1300 F40s produced in total and (as you correctly noted) just 272 GTOs. With only ~70 or so GTOs currently in the US (none of which were US-spec) and over 200 F40s built to US-spec, the GTO is still the rarer bird in the states by about three to one, and in the world by five to one! I'm no expert on values by any means, however, the car pictured below was available in New England for ~$495k when I was looking on behalf of a friend in December; it had some 'stories' and fresh front end paintwork. Of course, the market on these changes by the minute, so I won't pretend December's pricing is accurate in August, but the economy certainly hasn't gotten better since that time, and this is interesting to note: (PM excerpt from a fellow F-chatter I hope the individual who sent me this message does not mind my sharing it, as I felt it relevant to the discussion. I will have it removed by a moderator if necessary. For the same money, I'd rather have the F40 myself, but it's all a matter of personal preference. Regards, Tad Image Unavailable, Please Login
Tad youre dead right about the rarity of the GTO - I guess I was thinking of it in different terms. And the F40 is more accomplished so many would rather have the F40 as is evident. Trouble is, lots also want a GTO... That New England car is ex-Ralph Lauren and it sold for around $500k which is what I think they should still be... same car below I think. BTW the PM that states that "a perfect car with under 1,000 miles should be $475k" tops is simply wishful thinking on the part of the poster. We can all dream, but the market pays no attention. Demand, supply and buyer's comittment is what sets the numbers. Joe www.joesackey.com Image Unavailable, Please Login
When people tell me such things, I encourage them to find that car out there, for that price. Good luck. There is a difference between overpriced, and an impeccable immaculate car with low miles (less then 10k in this case... or less then 50k for something like a 69 Firebird 400 etc.) That said.... this is what a PPI is done for on these cars... to negotiate the price down to what makes sense to bring it to that immaculate condition.. IMHO, its a shame to let these cars deteriorate much... and its also a shame to see them collect dust where nobody can see or enjoy them. Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
The ex-Lauren car is indeed my car. It will be at the FCA event at WGI over labor day weekend for anyone that wants to see it BTW it currently has 13.5K Km, 2K of which I've added since buying it. It had 11.5K km (or 7K miles) when I acquired it. I did most of those miles on a 10 day road trip.
This is the afformentioned GTO with TR style megaphone exhausts seen on the weekend 8-10 June 2007 for the Ferrari Racing Days at Silverstone. In my opinion a very beautiful car and one whose price I think will continue to rise at a healthy rate. Paul Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
This has to be the most beautiful of all ferraris - its lines are perfect. Thanks to all for the images.
A word on the exhausts: Ferrari offered an Ansa "Megaphono" system as a sport exhaust option but the original units were made in mild steel and were finished black. This car wears a re-make in stainless steel. Joe www.joesackey.com
I love the lines of the 288. Amazing to me the number of individuals that remark it's a rebodied 308 w/an inline turbo engine... I personally am not sure where this car falls in the super Ferrari group, but would love to see one in MY gararge....
Joe, FYI, I turned down $700K (about 500K Euro) for my GTO last month. It is one of the true CA BAR label cars. If you can find a good GTO in the States for $500K, I wouldn't hesitate to purchase it. GTOs have been migrating back to Europe recently as Europeans like them, the US has (in general) the lower mileage cars and Europeans have the exchange rate advantage. At one time the conventional wisdom was that there were approximately 70 or so GTOs in the US. There are probably less now and, given the exchange rates, there will be less in the near future. A couple of Ferrari dealers opined they thought maybe 30-35 are still in the US. That may, or may not, be true. (I think there is more than that.) If true, GTOs will be $850K+ cars next time you blink. Heck, even if it is 70 or so cars, they may be $850K cars. Several of my friends are trying to acquire the Ferrari super car suite (Enzo, F50, F40 and GTO). As more collectors do this, given the production volume, the GTO is going to be bottleneck and prices will continue to rise. As such, my predicition is they will be $1M cars. Try to find a USA F50 today, without stories, for under $1M. Oh, the RI GTO ended up with a local high-tech exec in Los Gatos, CA. No, not me, mine was a CA car from new. F40s, as cool as they are, relative to the other Ferrari super cars, are everywhere and the easiest to find/acquire. Steve
Back when BBs were imported, they received a 1-time entry exemption as grey market cars. In other words, if the car leaves the US, it cannot re-enter. I've heard tales of a few BB owners who were surprised by US Customs when they tried to re-enter after driving to Canada. So, the story went that if the car was imported and exported, the car would be lost from the US fleet. Does anyone know if the same applies today to 288s? If shill288 is correct about cars going to Europe (which I do not doubt), can they re-enter? If they cannot, then the US 288 population is slowly being whittled down. OTOH, 288s that were never imported can still be brought in (assuming they're Federalized, I imagine). Anyone know for sure? CW