Fiorano sells for 180k at Gooding

I agree 100%. One random sale does not predict the market. It may or may not be the start of a trend, but only time will tell.

 

Jim,

The trend has started, what did you pay for your most perfect 355?

Is it worth 30% more? - I would say if it was marketed well you could easily get 100% more then you paid. What do you think a 95 Red Tan sub 10K mile GTB sells for today? You bought a heck of a nice car, my friend and neighbor had it since new.

Only time will tell, however to not give credit to that sale is ignoring facts - The spring will tell us more.

A few old picture's of your car -
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There seems to be a real dissonance between people who on the one hand love their 355s so much that they would never sell them, and on the other hand obsess over the resale value of their cars. From the sidelines, it all seems very strange. 50K, 80K, 100K...I guess my question is, what difference does it make? I ask not facetiously...I really feel like I'm missing something here.

 

At the end of the day, regardless of how much they love the car they own, money talks.

Everything Ferrari is going up. But for how long? Is this another bubble Like the early 90's? Back then Boxers were trading at 500k. Not too long after, the bottom dropped out and they were trading below 100k.

I would capitalize on the opportunity right now. Sell for double what you paid if you can. Stick the profits in the bank or invest it, until the next car comes along. In essence the next car you buy would be free.

 

That could very well happen - but with so much QE and money sloshing around out there I doubt it will happen. The world is awash in liquidity and all the central banks apart from Germany want to inflate there way out of it - inflation will be good for the classic car mkt. As more UHNW people are created every month the money goes to places like Ferrari's. For your average HNW or UHNW person a 200k collector car really isn't that much at all, a drop in the bucket.

So many scenarios out there but it wouldn't surprise me at all if all asset classes appreciated significantly over the next 5-10 years. All the people in the world that control money want that to happen, that tell's me that they will get what they want and make it happen at all costs.

Time will tell

It doesn't matter to me on a grand scale, however I like to buy things that go up - so really the only place I can discuss that is on this Forum. Don't think my friends would be friends with me if I sat around and bantered about how my Ferrari portfolio was doing?

I love looking for a Ferrari, I always love the hunt - I then love to buy the car for what I think is below MKT (love to make a great deal) - I then hate paying for the car and suffer from buyers remorse for about 2-3 weeks, I then get over it and enjoy improving the car and learning about that model, I then love it when they rise in value so I can sell that car and experience a new Ferrari.

That's why I love these threads -

I'm feeling very guilty right now
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If you list that car for 115k then i will wait to list my 99 355 GTS F1 red on black usa spec with sports seats because i was only thinking of 67k usd.I hope you get it.

 

Gonna send you a PM in regards to a certain other car you may know about.

 

Currently on the market. I would say dealers and private sellers definitely pay attention to action results and set prices accordingly.
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Let me guess? The 599 stick my friends just doing the clutch on it.I sent you a PM

 

The 355 Challenge street legal car from ebay sold for the asking 150.000$.

 

Where did you get that? The listing says best offer accepted. Not Sold at $150k.

 

Andrew, thanks to you, I did buy a heck of a nice car, and it is still below 10,000 miles.
Again I want to thank you for taking your time and answering all my questions before I purchased it from Al. You said I shouldn't have too much trouble with it and has proved to be true.

I am not ignoring that the sale didn't occur or that it is not a data point, but I just don't know if that is the market at the present time. I think that it could be a good sign, but until this happens multiple times, it could be just an anomaly. Time will tell.

Thanks for posting the pictures. I think I remember some of those pictures from a while ago. Is that at the Larz Anderson Museum?

 

Believe me, very, very close to it ;-)

 

Fwiw . . . Similar thing happened with an Alfa Romeo Montreal at Gooding - Scottsdale in 2014. A nice car, but certainly not #1 condition. Car hammered at $176k with buyer premium. No Montreal had previously touched over $100k (at least not in public sale, though one of the Autodelta cars could have sold for 6 figures privately . . . but I digress). Since then, however, there has been increased interest in Montreals. A follow up car hammered at $125k and the result is that the Montreal prices as a whole have been on the rise for the past 15 months. Two years ago, $55k would've bought you the best car in the world. Now, it's entry price for a #4 car. That said, pricing has backed off as of late, but not down to the level that it had been pre-Scottsdale

You're reading too much into Sherpa's commentary. It's not meant to be condescending, only that it's tough to understand the dynamics at play or the vibe unless you're in the audience and near the action. As it turned out, one of the bidders was a couple rows in back of us to our left, which is why he mentioned where we were sitting. It really did come down to 2 bidders, each seemingly hell bent on going home with the car. It's certainly a data point, and may initiate a price rise and catch some "dumb money" attention for a few 355s crossing the block at one of the high end auctions going forward, but it doesn't represent market . . . at least not yet.

But obviously, you're entitled to your view. And if you believe that the Amelia car represents a systemic jump in prices for Fioranos, which can then be extrapolated over to all 355s, then the next year should be telling. I hope you're wrong as I haven't decided yet whether my next Ferrari will be a 550 or 355.

p.s. And speaking of condescending . . . yes, sub-$250k is a no reserve car at the Gooding, RM etc auctions. Perhaps it's not fair to say this but at least the impression that I came away from the past couple of days, is that sub-$250k cars are treated by the high end auction houses as akin to used cars. They have little time on stage and the auctioneer will hammer much quicker if the action stalls than they do for a higher end car. That's just how it is in the current bubble market where a $250k or lower car is effectively pocket change for the high end auction houses and the big players. Just my observations from someone who's not even remotely close to being a player, let alone a big player.

 

Rick, a 1988.5 or 1989 328 is a far different car than a 1987 and this has about 1/3 the miles of the scottsdale car. Plus it's 15 months later.

 

Andrew, I was not being condescending. I was only illustrating the view I had of the auction and the bidding which, as mark correctly points out, is entirely relevant to the conversation.

As far as used cars go, I can tell you that I own a couple of those that mean as much to me as my F40. Furthermore, since you don't seem to understand where I am coming from, in auction speak any of these cars that are not considered current collectible classics, like a daytona or a Shelby cobra or a Carrera RS are referred to as "used cars." It doesn't make them worthless and it doesn't make them not worth owning. However, given that you can find them all over ebay and Craigslist when one of the 100 comes up, that's generally speaking what they are. The point is that you cannot take a single outlying auction sale and apply it to the market as a whole.

And don't think that I don't love 348's and 355's. I love them both and I think they're some of the best production Ferraris ever made - the last of the small, steel based cars. You don't have to sell me on them: I own one.

 

Guys, as long as there is a continuously changing 10-12 355s on ebay, they ARE NOT 'collector cars'. That does not mean that they are cars without value. These cars have a great brand, driving quality, and looks.

Let's face facts; there are not 11,000 'collectors' in the world who 'have to have an F355, (or 355F1). That said, while there was only one person willing to pay $180K for one, there were at least two who were willing to pay $175K.

 

Look at this bargain!
Cars for Sale: 1999 Ferrari F355 Spider in Agoura Hills, CA 91301: Convertible Details - 395630842 - Autotrader

Lol

 

Why not?

 

Fiorano's have been in this price range for awhile. Over the past 5 years I have seen probably 6-8 of them come up for sale and they are in the 90-120k range asking price. The one last month for $62.5k that needed work went quick.

That one does have a very rare color combo. Not sure if that would help or hurt the sale.

 

I personally think it's a good deal. It's a bargain based on what just happened at Gooding.

 

How bout this car?
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