F355 Challenge for Sale - Paul Newman?

Here is what the race reports says of the Ferrari Challenge at Lime Rock in 1999:

"The Lime Rock weekend was graced with the on-track appearance of that great driver Paul Newman. The seventy four year old American actor was driving a Ferrari for the second time, having been at the wheel of one for the 1974 Daytona 24 hours, when he drove a 365 GTB/4. Newman was in great form and quickly showed his experience and capabilities, with practice times between 10th and 14th places."

"It has to be said that the USA Challenge is very hard fought and many talented drivers take part, so it is particularly noteworthy that Newman was immediately in the thick of it. However, his participation did not have a happy ending as he was forced to retire from both races with mechanical problems."

He drove the yellow #2 car sponsored by the Robb Report. The car was reserved each race for guest and celebrity drivers.

So I can appreciate the car - but I don't really weigh it more valuable than any of the other cars... they are all special.

Robb
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Its in SoCal in a garage

 

My hat is off to them if they sold it anywhere near $100K or more...definitely a record breaker for 355C selling price. If Newman did drive it, I would estimate that is worth maybe an additional $10K to value, but definitely not an additional $50K - $100K!!

Truth is that 355C's with a valid title is very rare these days unfortunately....and most values are between $45K-$60K for a well maintained, good running car.

I would add another $10K on buying price if any 355C does have a title. ($55K - $70K)

As for challenge prices going up, we haven't seen it happen.....yet.

 

Thanks guys for being the voice of reason! As an owner of a car that you guys once had for sale and which was impeccably serviced at your shop I have to say thanks for bringing reality into these stratospheric F355CH valuations ;-)

 

Hi Dan,

What car do you own that we had here?

 

The yellow F355CH with the FChat logo on the side, you guys had it around end of 2012 in for service and advertised for sale. s/n 104646.

http://universalautosports.com/inventory/stock104646/

 

we know the car very well....great car...sounded awesome!! that was one of the only ones we saw with a title. How's she running? you live local in NY?

 

Unfortunately not local to NY; car is in MA...it's running great; if it was in NY I'd have it down to you guys for service. May trailer it down to you next time she's due for a major.

 

Sounds good. We could also arrange meeting you at bridgeport ferry to make it easier for you. Enjoy the car...thats a good one!

 

In regards to valuations, it is important to consider that the prices in the United States do not necessarily equate to prices in the rest of the world. Case in point, look at the price of vintage Porsche's. In the last year or so I know of a large number of vintage 911's that have been sent back to Europe. Why? Because the cars commanded a near 50% premium over there. In regards to 355 Challenge car valuations. Recently some 355 Challenges have sold for a rather high premium in Europe. Does that mean someone in the US will pay the same price? Not necessarily. However, with the power of this thing they call the internet dealers in Europe do shop via Ebay, Autotrader, etc. If European demand continues to place a premium on challenge cars it is reasonable to assume that prices here will rise as cars get bought and shipped across the pond.

 

And, so what does this mean?

 

Very good point on this -- the only thing that will balance this out will be the instability in Europe and Euro value. However in the long term anything is fair game. I remember a few years ago looking for Porsche 930s and they were being sold for ask to European buyers because of the great Euro:USD rate and their (relatively) cheap price in the US.

 

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