Better question is...how many are F/S by owners? I won't turn this into a "Market" thread...But this is what happens. Some of the 330 series cars on eBay have been online for almost a year. Guess how many Testarossa's were bought in speculation too. You literally have your pick from HUNDREDS, in all conditions and flavors.
It's cyclical, interest rates are moving up, at least that's the rumor, so values on these kinds of cars may slide down. "Safe car investment" has always been an oxymoron. Maybe not the tippy top of the market GTOs and the like, but middle market collectibles that really aren't that rare will wiggle down. And if you invested in one of these, it's time to bail before they fall too far. D
It's super interesting to me threads regarding market "popping", bursting, collapsing, etc. Many of these cars seem to be from one dealer: Gullwing. You can also find them here: Classic Car Dealer | Collector Car Broker | Classic and Collector Cars Buy and Sell Not saying that things haven't necessarily popped, but the commonality of many of these cars coming from a single dealer makes me think more of "flooding eBay" as a sales strategy for Gullwing, rather than a smoking gun for the floor dropping out of the market. Cheers! Ruben
Looks like Gullwing is getting out before its too late in order to limit their "exposure." Keep in mind there are alot of speculators out there who gobbled up everything in sight at one point which artificially constricted supply. I do remember to talking to a dealer at one point that openly admitted to having well over twenty 355s in their "stash" that they were hoarding. I was speechless. There's a lot of homeless cars out there that haven't been seen by the market yet for a few years.
I have watched Countaches on EBay for 15 years maybe there would be 1 or 2 Anniversary models but never carb cars now there last time I looked over 11 Countaches Lots of supply of classics and so called classics but no panic in the streets yet, the market needs a reasonable excuse to crash, some think it's gonna be an orderly correction with a dip 20% but with values going up 3X or 4x the past several years I can't see that happening. Some could try and blame dealers and auction houses for the bubble but the buyers are just as much to blame they paid the prices.
I doubt Gullwing is "getting out". That place runs the gamut from BHCC style basket cases, to trades with other reputable dealers (the 365gt2+2 with 330 engine came from driver source in Houston), to selling some pretty nice cars. Most I've seen would qualify as mildly flawed drivers. They move a lot of inventory and have been on eBay forever. Seems to be one of their big avenues for advertising, if not sales.
Look at Beverley Hills Car Club , they list all the worst examples of cars, generally so rusted out nobody wants them anymore. Pantera's, Jag, Lotus, Porsche, I think sometimes Ferrari scraps they flood the market with bottom of the barrel garbage at high prices as a method to elevate to overall market. E.G if you see 20 rust bucket Porsches for sale for a high price you'll then go and over spend on a nice running car. I think many of us enthusiasts have lost patience for this type of reseller, and resellers in general of classic cars. At a certain point it really goes against what being a collector / enthusiast is all about but unfortunately for some people only greenbacks can give them excitement.
Some thing to add to this. I have traveled, inspected and bought for clients more vintage ferraris over the past 30 days than I have all year combined .
Care to elaborate?; models, production years, condition, prices actually paid relative to "current market" advertising? Thank you, Jack
It was interesting to visit this discussion two years after the original post. What say all of you now? I think calling the bubble was pretty accurate. I also very much agree with the scarcity created in the market by all of the dealers snatching up every available by-owner car at or near asking price on speculation. Smart dealers are cutting their losses and trying to thin the herd before we hit bottom. The Porsche market is doing the same thing. We shouldn't forget that it's all cyclical. Buy your cars to drive and enjoy. Treating them as safe investments was a bad idea from the start. Treating them as fun investments -- that's a different story!
And 2 years later, a non-trivial number of Gullwing's cars are still on eBay... Generally at prices that are only a token lower, so it seems that many have not given-up on the market yet. For more evidence of this, see the 16447 Daytona that was sold at RM last month for $566k-all-in, Symbolic now lists it for $695k... That said, I do have to admit that prices feel like they are softening to me. So much so, that I've started looking around again; as evidenced by the fact that this is probably my first post in at least 6 years...
^If you can't use them to print money anymore they become less desirable to speculators. The question is: how many in the market are simply speculators.
Not on ebay, but Anamera: 6 countach 5 in US and one in Netherlands, 1976- 88-89. Here a situation. Image Unavailable, Please Login Concerning Ferrari 1448 are for sale