2001 456 GTAM - Purchase or Pass | FerrariChat

2001 456 GTAM - Purchase or Pass

Discussion in '456/550/575' started by JAS12, Aug 8, 2022.

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  1. JAS12

    JAS12 Karting
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    #1 JAS12, Aug 8, 2022
    Looking to purchase a 2001 456 GTAM from an estate. The executor does not have any history on the car and due to family members fighting it is difficult to get a PPI. The executor feels that obtaining a PPI may be valuable getting a higher price for the car but timing, money and the lawsuit are holding things back. The car has 49599 miles and they will sell it as is for $35,000. The car is in great shape physically and when I heard it run, it appears to sound good. Unfortunately when they stored it inside they never disconnected or put a charger on the battery and now it is dead. For the price there is a part of me that says “go for it” and another part of me that says “run Forrest run!” as I don’t know any service or maintenance history. I am also looking at a 308GT4 for $55,000 that is well sorted. They are two different animals all together and I do prefer the manual trans vs auto. Plus I think the 308GT4 will go up more in value…granted I’m not looking to sell or flip either of them. Any and all opinions on the 456 would be greatly appreciated. Would you buy or run?
     
    Texas Forever and Ryan S. like this.
  2. Aerosurfer

    Aerosurfer Formula 3
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    #2 Aerosurfer, Aug 8, 2022
    I know nothing about the ins and outs of GT4 ownership or restoration other than they have been on a tear lately in value and strong sales. Perhaps some incredible outliers or just the market is strong, but if its a good car and appeals to you 55k is likely a good investment...

    A 35k 456mGTA is likely a great price for a runner and could be a wonderful deal, if the car is in even better shape. Good GTAs have been drawing solidly into the upper 60s as of lately. Its not hard to put a few thousand (or more) into bringing up to what it needs.

    People seem to love the GTA for what it is. And it does a great job as an automatic GT car. As far as the platform, I love my GT, the car is wonderful
     
    Texas Forever likes this.
  3. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    #3 Ferrari55whoa, Aug 8, 2022
    I learned an expensive lesson NOT doing a PPI (not my Ferrari - that $500 PPI was worth it as it told me the easy list would cost $20k…..knowing is better than not knowing)..

    i will never again buy something “vintage” without a PPI….unless I truly believe the price is “parts value”.
     
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  4. tazandjan

    tazandjan Three Time F1 World Champ
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    #4 tazandjan, Aug 8, 2022
    At that price, buy it and have it towed to your Ferrari tech.
     
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  5. yudkib

    yudkib Formula Junior

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    #5 yudkib, Aug 9, 2022
    I would probably take the 308 personally (though also have very limited knowledge on the model), but at $35k, you will have a lot of money to sort the car out before getting to market value for a sorted car. You would spot a lot of the most obvious stuff that would cause a no-sale - mold, water staining, rust, major paint issues, broken glass, won’t start, engine smokes, suspension is seized up, car won’t move.
    Anything short of those, well, $20k buys you a lot of work to get to “a nice driver”. You might spend more than $20k to sort out *everything*, but even with a PPI the to-do list on any 456 will not be “$0” unless you want something much more expensive.
     
  6. Aerosurfer

    Aerosurfer Formula 3
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    #6 Aerosurfer, Aug 9, 2022

    The first retort to all that is how much do you plan to work on either car yourself and how quickly do you expect to enjoy it in the road.
     
  7. henryr

    henryr Two Time F1 World Champ
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    #7 henryr, Aug 9, 2022
    dr mike's rear ended gated 456 sold for $30k if i recall correctly on coparts

    $35k is a worthy risk

    fwiw, my mom had one for a bit. outside of the air conditioning and CEL light issues it was a nice ride. buy some black tape....
     
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  8. Texas Forever

    Texas Forever Seven Time F1 World Champ
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    #8 Texas Forever, Aug 10, 2022
    Damn CELs


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  9. chris_columbia

    chris_columbia Formula Junior
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    #9 chris_columbia, Aug 10, 2022
    How long ago did you hear it run? If we're talking about a year or so, I think it's definitely worth the risk, if you have any interest in it. Now, if it's been like 5 years, the risk goes up a lot. It's a great price even if it has some issues. The 456 is pretty easy to work on. I'm jealous!
     
  10. henryr

    henryr Two Time F1 World Champ
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    #10 henryr, Aug 10, 2022
    thing would throw codes for oxygen sensors and misfires like a champ
     
    Texas Forever likes this.
  11. Miner64

    Miner64 Rookie

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    #11 Miner64, Sep 13, 2022
    How did this go, did you end up buying?


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