From the April 1990 Road and Track classifieds... Asking $110,000 for a 1985 Mondial Cab "price could double next year"... Note the $1.25 million ask for the GTO, the Mike Tyson Testarossa at $330,000. Makes some of the current asking prices for Ferrari's seems reasonable (especially the Mondial!). Image Unavailable, Please Login
LOL! I remember those crazy days. It seems that just about everything from classic European sports cars to American muscle was trending off the charts. History does repeat itself, doesn't it? A buddy of mine was shipping a dozen cars a month to Europe and the Middle East back in 1989/90. The prices were going crazy. What's even crazier is that $110K in 1990 dollars is the equivalent of over $200K now. 2cam
Well, remember, back in 1990 the car was only 5 years old, and it was the very beginning of the dot com bull market. Also, area code 305 is Miami Dade, the cocaine cowboys were still riding. Albeit with posses on their trail but riding nonetheless. Mine is an 1985 grey market, and IIRC the PO who was the second owner, told me he paid about 90k. I was fresh out of law school, and had never seen the bear markets that were to come in Ferraris and most collector cars. I was beginning the long process of giving up hope on the dream. Figuring that you did not pay too much for a Ferrari, just too soon. Like a Deusenberg.
1988 Ferrari Mondial Cabriolet. Red/Tan. 4,441 miles $200,000 FIRM 1988 Ferrari Mondial Cabriolet. Black/Cream. 3,000 miles. Like new condition $210,000 FIRM Description; "With less than approximately 1,500 cars built for the world from 1982 through 1988 it is as collectible as the Daytona Coupe. Could this be the next "million dollar" spyder? Mid-America Exotic Auto Sales, INC 913-384-1717 DuPont Registry- November,1989
Looks like things didn't work out well for Mid-America Exotic... 98-3249 -- U.S. v. Ventura -- 02/16/1999 Does make you wonder if someone bought the cars near those prices?
The original owner of my '89 328 GTS paid $140,000. I had a copy of the cashier's check with the car.
