330 GTC market

Yet another 330 GTC didn't make reserve - at Worldwide in Auburn yesterday. Bidding started at $300K, worked it's way up to $400K in $20K increments, then stalled. The auctioneer struggled for another $10k with no takers. This car previous sold for $445K at RM Monterey in 2023. SN 10101.My sense was that here were a handful of knowledgeable bidders in the room.

https://listings.worldwideauctioneers.com/product/1967-ferrari-330-gtc/

https://rmsothebys.com/auctions/mo23/lots/r0125-1967-ferrari-330-gtc-by-pininfarina/

It seems that more than a few cars with some potential needs have reached a similar fate over the last year or more. And this is happening whether at auction, on BaT or private offers. Sellers want over $400K for less than perfect cars and buyers are balking at paying that. Are increasing restoration costs hurting these sales perhaps?

On another note, internet clickbait is going around regarding Tim Allen's 330 GTC being worth $3.4M! Beyond the sensational valuation, one interesting point made is that it is Tim's favorite car in his collection...

 

Correction - there were a handful of knowledgeable bidders in the room...

 

I don't see any links to it on the Ottis website...

 

I saw this one sell. As I recall, this was advertised as an Air Conditioned car - which Bonhams later retracted. Other than that, it presented well and many items were (apparently) restored to a high enough level to take some refurbishment risk out of the sale price and make it "worth" $525K. And the color combination is pleasing - if not all original (was Marrone/Maroon).

I don't totally disagree that the auction houses you mention are a bit better barometer than some of the others, but the newcomers are also featuring vehicles targeted at discriminating buyers and seem to be attracting upscale bidders to their rooms. Thus, their sale prices "count" in the market similarly. And we can't forget the online houses that are changing the way these cars are being sold as well. All sales count towards what makes the market...

 

Found it. OTSandco is the business name. The exterior shots of the car appear nice...but the interior is disgusting. Dirty and worn out. Not even close to what I would consider "patina". No under hood or trunk shots, apparently no tools or manuals and no description either. Could be a good candidate for a restoration, but it's not quite a driver...and the link identifies it as a project.

It is listed as "sold" though. I wonder what it went for?

https://www.otsandco.com/project/1966-ferrari-330gtc

 

I just don't prefer the look of a dirty/worn tan interior. Grey or white is even worse. Yet I like any color interior over black. Reds and blues always seem to look sharp.

I actually have a very realistic perspective on what can be had for the price range indicated. What I have found interesting is the number of recent auctions that have stopped at/or just short of $400K for 330GTCs with needs. Buyers seem to be more aware of the cost to refurbish each portion of these cars - and it quickly can add up. No one ever says "I spent a lot less on my restoration than I thought I would".

 

Nicely presented! The red carpets actually work well with the rest of the interior...

https://www.otsandco.com/project/1968-ferrari-330-gtc

 

My Pantera is all original and unmolested at 51 years old. I get it...

 

Monterey 2025 has a plethora of GTCs this year. Looks like all are very nice cars. Some have traded in the last 5-10 years for strong prices, thus it will be interesting to see how they fare...

9237 at Gooding - from the Bethel collection:
https://www.goodingco.com/lot/1966-ferrari-330-gtc-1/?filtersInput[auctionType][0]=Live Auction&filtersInput[auctionYear][0]=2025&filtersInput[liveAuctionVenue][0]=Pebble Beach&sortBy=ENDING_SOONEST&pageNumber=7

9487 at RM - ex Gene Ponder collection:
https://rmsothebys.com/auctions/mo25/lots/r0039-1967-ferrari-330-gtc-by-pininfarina/

9671 at Broad Arrow - ex Dyke Ridgeley:
https://www.broadarrowauctions.com/vehicles/jc25_r0014/1967-ferrari-330-gtc

10761 (making yet another appearance) at Mecum - (ex?) Don Davis collection:
https://www.mecum.com/lots/1149801/1968-ferrari-330-gtc/?aa_id=697110-0

 

Maybe if the representative vehicle was pulled out of a swamp. Half that amount would get a lot of work done on a decent car. But, I agree, it's expensive to get the work done these days...

 

I'm watching it. The current high bid of $250K took the wind out of everyone's sails...but it's worth that. Debatable that it can go much higher before it becomes a risky buy though. The seller is not being very forthcoming with any more details...which he should really know (and share). And my sense is that the current high bidder may be privy to more information than the rest of us have as well.