1982 400iGT in Sports Car Market | FerrariChat

1982 400iGT in Sports Car Market

Discussion in '365 GT4 2+2/400/412' started by Schumi, May 29, 2018.

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  1. Schumi

    Schumi Formula Junior
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    Jun 5, 2002
    867
    Missouri
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    Daren
    Did anyone else catch the 1982 400iGT that was featured in this month's Sports Car Market magazine?
    There wasn't any VIN listed that I could find in the article.
    https://www.sportscarmarket.com/profile/1982-ferrari-400i

    Pretty cool result. I certainly like that these cars are being appreciated, but I hate that it makes me think about selling it.
     
  2. Il Tifoso

    Il Tifoso Formula 3
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    Oct 22, 2013
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    Ruben
    Thanks for posting it. How much did it sell for?

    Ruben
     
  3. Ak Jim

    Ak Jim F1 Veteran
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    Dec 23, 2007
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    If I could sell my car for enough to buy a Piper Super Cub I'd have to at least think about it.
     
  4. Schumi

    Schumi Formula Junior
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    Jun 5, 2002
    867
    Missouri
    Full Name:
    Daren
    $110,000.00
     
  5. Jasonberkeley

    Jasonberkeley Formula 3
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    Apr 23, 2017
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    I dont have a subscription. Is it possible to cut and paste the text of the entire article? Thanks
     
  6. Schumi

    Schumi Formula Junior
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    Jun 5, 2002
    867
    Missouri
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    Daren
    This car, Lot 32, sold for $110,830, including buyer’s commission, at Artcurial’s Paris, FRA, auction on April 8, 2018.

    Four-passenger Ferraris were often the most expensive model in a Ferrari production series.

    The reason is simple: Four-passenger models have more content than 2-passenger models.

    They have more metal, more leather and more luxury features. They are designed for everyday use and often are used in that manner. They go to work, they take the kids to school and they get parked wherever there’s space. They usually see higher use than the 2-passenger models and often show more wear. Accordingly, they depreciate faster and are the entry models of the Ferrari world.

    Once Enzo Ferrari decided to supplement his race-car business with production models, it didn’t take long to add a family-friendly model to the lineup. A couple of 2+1 and 2+2 versions can be found among the earliest iterations, with a real production model, the 250 GTE, coming to market in 1960.

    A long history of popular 2+2 Ferraris
    The 250 GTE — the E denoted the use of a 508 E chassis — was introduced to unprecedented acceptance. The GTE allowed access to the Ferrari experience to the client with a family or one who required a larger car. Calling the concept a success would be an understatement, as in an era that produced such important models as the 250 Lusso, 250 California and 250 GTO, nearly 40% of all 250 GT sales were GTE models.

    The success of the 250 GTE guaranteed a position for a 4-place model in future Ferrari lineups. A 330 GT 2+2 followed the GTE, which was subsequently replaced by the 365 GT 2+2 — also known as “The Queen Mother” due to its bulk.

    In 1972 a new model was introduced that would define 2+2 Ferraris for the next 17 years.

    The 365 GT4 2+2 was introduced in 1972. The angular body penned by famed Pininfarina designer Leonardo Fioravanti was a major departure from the compound curves of previous Ferrari models.

    The traditional oval opening and egg-crate grille were replaced with a horizontal opening and a slatted grille.

    The 365 GT4 2+2’s plush interior, dominated by a large center console, was a pleasant upgrade to the already luxurious interiors of previous 2+2 models.

    Power for the 365 GT4 2+2 would come from a 4-cam, carbureted 4.4-liter, 340-hp V12. Like the 365 GT4 2+2 itself, this engine would evolve over the next 17 years, but from the beginning it was a dependable workhorse.

    Enter the 400 Series
    1972 would see the 365 GT4 2+2 evolve into the 400 GT and 400 GTA. The GTA would be the first production Ferrari offered with an automatic transmission. The models kept the basic cosmetics of the previous examples, but they were powered with a 4.8-liter version of the 365 GT4 2+2 engine. The new engine was still rated at 340 horsepower but was re-engineered to work with an automatic transmission.

    The next update was in 1980, when the 400 lost its Weber carburetors to a Bosch fuel-injection system. The new 5-speed model was christened the 400i, while the two-pedal model was called the 400 Automatic i.

    The fuel injection made the 400i more emission friendly, but it severely crimped horsepower. Rated at 310 horsepower, the 400i may have lost some of the snap of the 400 GT, but it still maintained respectable performance.

    Like the previous evolution, some cosmetic changes accompanied the mechanical upgrades. The seats were redesigned, and the interior trim got new fabrics.

    In an attempt to keep up with the latest technology, the 400 GT’s 15-inch wheels and Michelin XWX tires were replaced with 415-mm (16.3 inches) wheels mounted with Michelin TRX tires. The switch may have seemed like a good idea at the time, but the metric wheels and TRXs never caught on and went the way of Sony’s Betamax videotape system.

    The final model of the series was the 1985 412. A revised 5-liter (412 cc per cylinder) version of the original 4.4-liter Colombo V12 replaced the 400’s unit. A 5-speed and an automatic transmission were offered. The new car’s 16-inch wheels and conventional performance tires replaced the unloved TRX combination.

    The 412 was a nice improvement on a car that was already top shelf.

    Automatic or three pedals?
    To shift or not to shift is the 400 paradox. The 400 was the first production Ferrari to feature an automatic transmission. There was far less controversy about the move than there is about paddle shifting today.

    The 400 was a big car intended for cruising rather than sporty driving. An automatic transmission was a natural fit, but the implementation left room for improvement.

    Ferrari chose a GM 3-speed Turbo-Hydramatic for the job. It was a beefy unit designed for engines up to 500 cubic inches. The unit could be found in Cadillacs, light trucks, and even in Rolls-Royces.

    The problem was, Cadillacs and Rolls-Royces didn’t go 150 mph. Take off from a stoplight, lift your foot at 35 mph and the transmission shifted to the same gear that was good for the next 115 mph. A stab of the throttle would put you in a lower gear, but let up on the throttle and you were back in third.

    The 5-speed option solved the gearing issue — but at a cost. If you bought a 400 for the commute to work, sitting in traffic holding down a clutch probably made you miss the Mercedes.

    Our low-miles, slightly needy 400i
    Artcurial’s 400i was a 5-speed model. It had only been used for around 13,000 miles and had only one owner from new. It had been retired when the owner moved to a more driver-friendly V12 BMW.

    Our subject 400i showed signs of neglect, with a nasty engine compartment and at least one spot in the carpet that looks to have been eaten by insects. It also needed service and a set of expensive tires.

    An outlier — but not a crazy one
    SCM’s Pocket Price Guide shows the median value for a 400i is $40,500. A scan of SCM’s Platinum Auction Database shows lots of sales, but few breaking $50,000.

    Our subject 400i sold for $110,830, which is an outlier — but not crazy. RM Sotheby’s $416,000 sale of a 400i last fall was crazy, but that one-owner, ultra-low-mileage 400i had belonged to Keith Richards of the Rolling Stones. Rock-god Ferraris can wreak havoc with car valuations.

    A scan of current 400 ads shows several examples offered at similar money to our subject car — or even more. The sellers are optimistic. While a 400 is a front-engine V12 from the end of the Enzo era, $100,000 gets you a choice of many better cars. The seller was the winner on this sale. ♦

    (Introductory description courtesy of Artcurial.)
     
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  7. Schumi

    Schumi Formula Junior
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    Jun 5, 2002
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    Daren
    VIN is 41719
     
  8. Jasonberkeley

    Jasonberkeley Formula 3
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    Thanks for sharing the article in it's entirety. Great price for a car in lesser condition. Would be a nice trend to see more sell for that kind of number, though not holding my breath!
     
  9. Schumi

    Schumi Formula Junior
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    Jun 5, 2002
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    Daren
    Agreed. The fact that this sale occurred in Europe, that the car is red (although I don't think they look very good in red), and the ultra-low miles all contributed to the high sale price. While there are some natty bits, a competent mechanic could have that engine looking spanking new with a little steam and a few new parts. This may be the lowest mileage 400iGT out there.

    What the article fails to mention is the actual rarity of 5-speed 400/400i cars.
     
  10. Jasonberkeley

    Jasonberkeley Formula 3
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    What would be considered low mileage? My car has about 20,500 miles...
     
  11. Schumi

    Schumi Formula Junior
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    Good question, and one I don't really know the answer to. 500 miles/year or less?
     
  12. Ashman

    Ashman Three Time F1 World Champ
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    That would be low miles in my book. My 1983 400i had 22,000 miles in 1998 when I bought it from the second owner and I considered that pretty low miles for a 15 year old car. The second owner put only 4,000 miles on it in the 10 years before from when he bought it in 1988 from Lanny Wadkins, the golfer.

    Now that they are 33+ years old, the benefit of low miles is offset somewhat by the negatives of not being driven enough to keep them from rotting away internally. Maintenance history is as important as overall miles when they get this old.
     
  13. Jasonberkeley

    Jasonberkeley Formula 3
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    Hi John,

    I always thought mine is low mileage at around 20,000 for a 1984. I agree with your comment about mileage being 'too low' to the point of worries surrounding mechanical reliability. I love driving my car, and it's the best thing for keeping it in good running condition. But I have to admit that a part of me was hesitant in some way about crossing from 19,000 miles to 20,000.

    Jason
     
  14. Schumi

    Schumi Formula Junior
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    Jun 5, 2002
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    Daren
    My car shows 69,000 "miles" that I think is really just 43,000 miles as the odometers were not re-calibrated when the stickers were put on over the original km speedometer during the US import process.
    Either way, these cars work better when driven regularly - as we all know.
     
  15. bjwhite

    bjwhite F1 Rookie
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    Same as mine. Sticker over the speedo showing 74,000 which should be 46,000 miles.
     
  16. Il Tifoso

    Il Tifoso Formula 3
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    #16 Il Tifoso, Jun 3, 2018
    Last edited: Jun 3, 2018
    +1, my 1986 412 shows ~66,000 on a km speedo with a sticker... which equates to ~41,000 miles. When I first purchased the car, I cross-checked the odometer with GPS to confirm if km or miles, and found that the odometer was indeed not recalibrated to miles.

    Ruben
     
  17. Ak Jim

    Ak Jim F1 Veteran
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    The other summer mine did the 99,999.9 to 00,000.00 thing and it didn't vanish or burst into flames!
     
  18. bjwhite

    bjwhite F1 Rookie
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    Sweet! You went from high miles to low miles! :)
     
  19. Ak Jim

    Ak Jim F1 Veteran
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    It's like I quadrupled the value of my car in one short drive!
     
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  20. Jasonberkeley

    Jasonberkeley Formula 3
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    Same here. Stickered speedo. "Mileage" was turning over way too fast. So I took my daily driver, pushed the button to have the display in KM, measured one KM for my driveway, drove it in the 400i and bingo, one KM on the nose. So my 33,000 or so KM is really 20,505 miles.

    AK Jim- I here ya about not bursting into flames, but there is something a bit more special and more "low mileage" about having it still be in the teens that a part of me didn't want to cross over, but I like driving the car too much, and it needs to be driven, etc...
     
  21. Ak Jim

    Ak Jim F1 Veteran
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    I do understand about keeping it really nice. We have been doing a garage addition for the last two years so I've been so busy I've hardly touched the Ferrari. At least the end is in sight.
     

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