$7k for a major, $3k to fix sticky parts professionally, $3k for a dash fix professionally and you're at $56k which is what Hagerty say a 1995 GTB in condition 1 is worth as of this month. Now if I add $10k to that, $53k for the car.
My $7000 major is turning into a 15K I just cant help myself or possibly the 20K parts bill I do all my own labor LOL Thanks to all the old racers here who got me fixing stuff that dont need it but I can't resist You know who you are gentlemen
Because there are more of them, more get stolen more get wrecked so insurance is higher. Depends on the individual and where you live as well. People on the Internet can not compare their rates just way to many variables. I hope they sky rocket bring it on!
Any problem with a Ferrari is a first world problem. I see no benefit to values rising, at least for anyone that wants to keep their car. Having what was a $50k car worth six figures just means I enjoy it less and spend more to do so.
Pete's take on this value thing is an interesting one and has merit for sure. I honestly don't see these cars elevating to the vintage Ferrari values with dramatic price appreciation but if they were at those levels someone who trackis their car or uses it a lot may pay attention more closely to the points Pete raises.
This is exactly my feelings about rising values. It is not so important for many of us who are holding onto the car and really using it as much as we can. The lower value (a blessing) allowed me to be able to afford getting into the car 6 or 7 years ago at that appropriate price point. While over the past few years, I have become more established in my career, I am able to properly maintain the car and drive her on both road and track, while I could likely afford upgrading up to a 458. To a significant number of others, owning an exotic is about having the "latest thing" as an exotic car is obviously a status symbol. This is why to many excessive driving of their exotic is almost a sin, analogous to having a low yearly mile lease agreement and "not wanting to go over the mileage limit." In my personal 355 experience, I will not ever upgrade the 355, unless I get into serious reliability issues that hampers my enjoyment of the car. Many people do not realize this way of thinking...many think that all of us exotic owners are striving to have the newest and "bestest" thing out there to try and impress everyone else, and if we don't have the newest and "bestest" thing than we should somehow feel ashamed. It is true that if our cars, someday turn into Dinos, that many of us will likely not drive it as much, because of the inherent value...this is where the shame would lie...