1998 GTB 16k miles for sale miami iaai.com auction

Sad to look at.

 

The auction claims estimated repair cost of $37k. I don't see that much at all it looks isolated to front and rear fiberglass plus hood and headlight. I would guess $20k repair work or less if someone can do it themselves. But then again could be tons of hidden damage.

 

I think they estimate based on what a professional body shop could do with new parts. Being the only new parts for a Ferrari are OEM they are ridiculously expensive. If you were willing to go with used parts and find a more affordable painter and do all the leg work on your own I'm sure this could be done for less than $20k. Just might take some time to source the parts.

I would be shocked if this was not fixed by someone.

 

I think I know the car. Sad to look at because the former owner took care of that car so meticulously. The car was a 2012 Cavallino Classic platinum winner

 

A little racers tape and it's GTG.

 

Guys guys guys. Take that "estimate" with a 10 lb bag of salt. Remember that the estimates that are done by the body-shop almost always assume you're buying OEM Ferrari parts for everything.

For a 15 year old car, that's nuts. Everyone who reads these boards knows how much lunacy is involved in buying new factory OEM parts. Just because it comes in a yellow box with a black horse on it, it's 400% more expensive. No thanks.

Take, for example, the body parts alone. Why would you buy a new left front fender panel for $8k when you can probably find a used one for $1000-1500?. You still have to paint it, so who cares as long as it's straight? Same for the bumper and same for the hood.

Of that $37k estimate, I'd bet an enterprising buyer could spend a few hours on the net, source used parts, and get that down to $20k...maybe even less.

Would make an AWESOME track car!

ketel

 

Can you say how much it went for? That is totally repairable and for nowhere near that estimate. The salvage title woul be an issue, but at the right price, this is a keeper anyway.

 

It's back up for auction, it obviously didn't bring what the insurance company wanted out if it!I would fix it up but I still need to get my dealers license before I can bid on anything at iaai.

 

It's just not worth it on a $20k ask considering there are good cars available in the low 40's that all you have to do is drive.

 

I agree. Even at 15k if it costs 20k to fix at 35k and a salvage title there isn't a lot if upside for profit unless it was just to keep and for 10k more you could find a nice car

Dud anyone else see that tv show with those guys from Texas who buy basically unwanted unique cars and re outfit them with new power trains and sometimes just clear coat the rust (patina)?

Anyway the last show I saw of them they bought a wrecked f40 for 350k I wonder how they are doing on that project and how it sells. That's a huge risk but there is a lot more upside potential and hardly any other options for buyers.

 

Bob, they aired both episodes of that show. Richard's friend Dennis paid $400K for that wrecked car(he is supposedly a Ferrari guy?) and Richard(the main character was to supply parts and labor). I believe it was somewhere around $285K-295K to fix it. With mint examples going for $800K-1 million, who would want that car with that history. Also the frame was not correctly fixed because they couldn't bolt the engine and transaxle back into the car without modifications. There is a thread on this in the F40 section. Talking about crazy.

 

I saw those episodes as well and found them a little odd. That wrecked F40 wasn't worth what the seller wanted and what gas monkey (the shop) paid for it. They ended up completely modifying the car--even painting it black!

In the end, the financial partner (Dennis) ended up keeping the car so we never saw whether the car commanded the price it would need for the shop not to lose money on the car.

The history of people who've completely butchered/modified Ferraris is not good. Those cars never command in the market what a fairly stock example would bring.

I love that show but am starting to think a lot of it is staged.

 

Classic Coach here in NJ is a Ferrari warranty authorized facility and has all the sub shops in house. Body frame upholstery mechanical. Etch

When I was up there they had a 430!that some guy with his girlfriend trashed on the highway in Miami and it was stripped almost beyond recognition and on this sophisticated jig with these marker things etc in order to get everything back into factory spec etc. a very complicated and involved job. And that wasn't even the body work yet

Putting one of these cars back into specs is not a trivial task and I can imagine not cheap by any standard. So this ain't a Buick if you want to get anywhere near per crash value and without complete insurance underwriting unless you get the car for free you may be sucking wind on trying to make it work

 

Most reality shows are staged although I cant get my wife and kids to accept it.

 

Yeah that's called a frame machine, measure the factory spots and the. Pull it back to within specs nothing new.
They have the measurement specs for that Buick too.
Mutltiple manufactures make frame machines but they all do the same thing using pullers to straighten the car back to specs.

 

+1 that's exactly what I was thinking when I read that. Any good body shop is going to have a fairly high tech frame puller to get that Buick into factory spec also. Ferrari might give tighter specs that they want it in but a car is a car is a car. They all fix the same it just depends on how much more the factory is going to bend you over for the cost of parts.
Also,I'm pretty sure there are 20 Ferraris up for auction or awaiting auction on AIIA and Copart right now but they don't usually spark a thread. I think this one was mentioned because the damage appears to be so superficial and a frame machine will not likely be needed in the repair.

 

Yeah I dont think this 355 needs any thing other than supperficial bolt on panels.

the fiberglass got busted up and if someone wanted to they could fix that. But there are enough of them being parted these parts are easily bought. No need for brand new parts so the repair cost are way over inflated.

The only thing is the insurance company wants $27,500 for the car. It was bid to 17K yesterday when I looked at it.

I see this car as an easy fix.

 

I agree that this car is an easy fix..less than $10k for parts, labor and paint. BUT if the insurance company won't back off from $27k, there is no upside. You will also never get full $$ for the resulting finished car because the salvage title is a 30% knock for most buyers.

Still, if you want to be an OWNER for a long time and enjoy the car, you could be driving a neat car for very low money. Make sure they have keys and FOBS!!

 

Yeah this one is going to be sitting for a while I think.