246GT and GTS Pricing History

I've been working on a project for Fchat. NNO has kindly supplied me with some data for a piece of the project. This chart is based on average asking price at year end from Ferrari Market Letter.

Just thought I share the chart with all of you interested FChatters.

DM
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Ray.

The market went nuts in the early 90's for almost any Fcar that could start, and many that couldn't.

I can't explain why, except maybe the go-go economy here produced lots of new buyers with tons of available cash.

I'm just glad I didn't buy my car then.

Dave

 

Dale.

Some are already crossing that threshold at $100K for very, VERY nice GTS examples.

Some GT's are pushing $80K. But, nice, workable ones are still under $70K.

The price disparity has always been there. Don't see any reason for it to change, although I'm told that the European market has less of a price differential.

DM.

 

I found a couple along the way with low mileage, but not many. I think the fact that these were entry level Ferraris put them in the almost daily driver category for a lot of first owners. They would get 20-30K on them in 3 or 4 years, everything would break, and then the use would slow down as the passed from owner to owner. (1st owners bailing when fixing prices were discovered.)

The late 80's shoots up the prices, lots of them get fixed, and are back on the road now.

Mine has 50+k miles on it, and certainly that doesn't affect the pricing nearly as much as its overall physical and mechanical condition. It's well maintained, so it's worth more.

The low mileage cars that I saw had asking price premiums on them for mileage, but they weren't selling at those numbers.

Dinos kind of break with the Ferrari pattern. They're an late 60's early 70's model, beautiful, (some say the most beautiful Ferrari built) but they were mass produced (at least for Ferraris) and so the prices have not skyrocketed like other models of that era because there are so darn many of them out there.

DM.

 

Fortunately for me, Carbon did the grunt work, all I had to do was compile the data into a spread sheet.

Thanks again Carbon!!

Dave

 

I actually did that homework, but only to compare current GT prices to the original sticker.

Turns out with inflation to be about equal to the original purchase price, in current dollars.

If I get a minute or two, I'll plug inflation into the chart for you all.

DM

 

OK, here's the chart, the bottom two rows take the starting price, and inflate it each year using the average CPI for each year.

DM
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Yup.

Books, a complete set, in good condition, can cost you $4K or more with the pouch. Tools, another $3K easy, and much more with a reflector and a jack, going as high as $5K.

And no, there doesn't seem to be any adjustment made for that. When I have asked sellers if the books and tools are complete, almost always the answer is no. When I tell them that's gonna cost $5k or more to replace the missing bits, and that needs to come off the price, they seem surprised.

Since we all seem to know these costs, I can't figure out why the shock and awe when the seller is informed of it.

DM

 

Annoying, isn't it?

However, here's my current shopping list of things I had to do, or will be doing shortly, to get m 246 up to snuff.

Refinish wheels back to original - $600 for the paint work (that was cheap) and $600 for the extra rims (also pretty cheap)
Michelin XWX Radials - period correct tires for the car $1800 (courtesy of a group buy discount from Coker)
Misc missing tools that I have grabbed $500
Reflector (If I can find one) $300-500
Key Fob - $200 (Again if I can find one) I have a very nice replica for $80 that I got.
Assorted books and manuals $500
Pouch for the stuff listed above $500-$1500, maybe more.
Dinoplex ignition - even if it doesn't work $900 - still looking for this.
Vent window repair still to come....priceless.. as I can't find the parts at all and will have to get them fabricated (Unless Tom comes through for me as promised.)
Good condition original steering wheel, or get mine refinished $500-1200.

Only thing I don't have to do is recover the dash, I have the original material, with the fuzz all gone, but my patina is considered ok by the couple of guys I talked to.

Now that doesn't include the complete new interior I put in, but I would have had to do that no matter what, as mine was completely shot when I bought the car.

So, if I want to compete at Reading or other regional stuff, I'm still a few thousand dollars away, and have already spent several thousand to get to the position where I'm close.