1997 Ferrari F355 | Mecum Auctions
Looks clean but it's got aftermarket wheels, higher mileage, missing the side pieces in the engine bay, and who knows about paintwork and accident history. http://shopmarkjamesauto.com/cars-for-sale/1997-ferrari-f355-spider-convertible here it is for sale at a dealer with different aftermarket wheels. Looks like it's been around the block. Lots of scratches up under the from end.
The 62 GTO sold for $38,000,000 at Bonhams. https://www.bonhams.com/ That's just stupid money. Of course, one sold privately last year for $52,000,000.
If you don't like the price then you're free to go find another! Good luck with that! For better or worse, it seems the GTO has become the market harbinger. Everything must fall in line behind it in the hierarchy of collector cars as fine art. Add a dash of tight supply and high demand and some good old fashioned interest from speculators and you've got the market result we seen today.
Because there has been a lot of talk of 355 prices increasing but these results show that while the Ferrari collector market is indeed setting records, 355 prices, in general, are not. Let's see how the other F cars at Mecum do.
That's the cheapest I've seen a 355 go for that wasn't salvage, really high miles or needing significant work. Could be the bottom of the depreciation curve.
Didn't say I don't like the price. Stupid money = "When one is said to have stupid money, it means they have lots of money that they frequently spend either foolishly or impulsively on objects with little or no practical function." "Can also be used in a more extreme sense to refer to spending of money simply for the sake of spending it."
Mecum's Auctions are not the venue to sell a Ferrari as you wouldn't sell a Bugatti, any Bugatti that is! On the other side of that coin if the seller tried selling the same car at a Bonhams or other prestige auction it might sell for less or not at all due to a more educated attendence! Unless of course we are speaking of a re-seller buying a car cheap to turn around and flip; for instance what happened in this situation. Of course they are trying to shine her up to sell to someone who doesn't or care about what they are buying. Just "heh man I got a Ferrari". Well I hope they can afford the Maintenance and fixes!
Probably a reason the car couldn't sell at the dealer and had to go to auction. Mercum is not different then Manheim.....just another auction.....just more publicized.
Really can not agree with that anymore. They have 13 Ferrairs coming over the block at Monterey including a 1954 375 MM, a 1961 250 Series II and a 1965 275 GTB. And just this past June they did have a Bugatti Veyron offered. Did not sell at $975k. Over the last 3 years 355 have sold at Mecum for from $75k to $30k with most in the $50 range. Seems pretty typical to me. Thing is, it really doesn't matter where a rare, high dollar collector car is offered. Word gets out that there is one up auction and the serious bidders will be there. A 355 on the other hand, will sell on a whim. No body is coming to an auction anywhere because there is a 355 offered. Cars of that stature, 355, 308, 348, 328, Mondial, are offered because some one wants out of the car and doesn't want to wait to sell it.
Johnk, That car isn't the market. I personally saw the car, and have it on good authority that it's basically a parts car. It's now been to 2 Mecum auctions. There's a reason.
Luke, I never said it was. What I said was, meaning the that the history of Mecum sales was pretty typical of auction results for 355, Mecum or otherwise. It's no big deal one way or the other.
Prices in the USA might not be moving much, but over here in the old worlde (or UK as some like to call it!), prices have been climbing pretty dramatically! A year or so back you could pick up a nice 355 for @ £30K (@ $50K), today, at the bottom end of the market they're currently @ £40K ($66.7K), and at the top end of the market they're @ £100K ($166K).
