Advice Please For Idiot Buyer! | FerrariChat

Advice Please For Idiot Buyer!

Discussion in '206/246' started by MRONY, Mar 17, 2007.

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  1. MRONY

    MRONY Formula Junior

    Mar 17, 2007
    707
    New York City
    Full Name:
    Mike O.
    I am about to buy a 73 or 74 GTS. The decision is whether to go for a well-maintained 35,000 mile car that got driven and serviced regularly, or a 10,000 mile care that obviously did not get too much use, and who knows about the service. Both are in great cosmetic shape, and from dealers with good reputations. The prices for both are insane, but I got lucky on an investment, and can stomach buying the car, if not dumping a lot of money into it for service right away.

    I've been told that a Dino that's never had a valve job is a disaster waiting to happen. Any opinions on that? (Sodium-filled exhaust valves cracking)

    My gut tells me a 10k mile car is always better than a 35k mile car, end of story. But then again, maybe the major problems that happen to Dinos haven't happened to the low-mileage car yet.

    I know absolutely nothing about these cars, and from this forum, I'd say it's the best source of info out there.
    Any help deeply appreciated!
     
  2. PWehmer

    PWehmer Formula 3

    Oct 15, 2002
    1,733
    Surrounded by Water
    Get the cars inspected by someone who does know Dino's well. Best money you can spend.

    The difference in mileage should not be a huge factor in your choice- both are low miles.

    Inspection will show if the mileage readings are accurate- it is not hard to disconnect.
     
  3. 2NA

    2NA F1 World Champ
    Consultant Owner Professional Ferrari Technician

    Dec 29, 2006
    18,221
    Twin Cities
    Full Name:
    Tim Keseluk
    You've come to the right place. You'll find lots of good information here with the search function (probably most questions have been asked/answered already).

    Dinos are great cars but you are right to do the homework before you spend the money.
     
  4. 74dino246gts

    74dino246gts Karting

    Aug 6, 2004
    126
    Northern California
    The fact that you are asking the right questions on this website proves you are not an idiot. Try to find out the history of the cars. If you have the vin numbers the dino register is a great place to start. One point, these cars were very susceptible to rust, so knowing the climate of where they were located may be important. www.dinoregister.com
     
  5. Julio Batista

    Julio Batista Formula 3

    Dec 22, 2005
    2,397
    As someone rightly said, these are both low-mileage cars; Differences in condition will be MUCH more important than the mileage difference. This is where the detailed inspection becomes indispensable.

    That being said, my gut in this case would undoubtedly incline me for a higher-mileage car that has been serviced and maintained regularly, over a lower mileage car with spotty use and maintenance. My experience of Dino problems is that they accumulate really fast in the absence of regular use and problem correction.

    In my opinion a 10K miles classic car is not always better than a 35K miles classic car; it is usually worse, because it has probably not been driven. My Dino always run best in the fall, after a few months of regular use and half a dozen visits to my mechanic during the spring.

    Good luck with your purchase. You are asking the right questions.


    Cheers,

    Julio
     
  6. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2003
    43,716
    26.806311,-81.755805
    Full Name:
    Dave M.
    Do you plan to drive, or admire the car?

    If you're gonna drive it, buy the car wtih 35K on it. That way you won't worry everytime you take the car out that you are diminishing its value by putting on miles.

    This advice, of course, is based on the assumption that the cars are otherwise equal in condition and contents.

    If you want to show the car someday, then be sure it has all the books and tools it left the factory with. If it doesn't make an appropriate adjustment in price for those items.

    GET A PPI DONE ON BOTH CARS BY THE SAME GUY. Make sure he has more than a passing famiarity with Dinos.

    And, filll out your profile here. We're a nosy bunch, and the more we know the more we can help. If we knew where in the world you are, we can point you at mehanics, sources for parts etc.

    Good hunting.

    DM
     
  7. MRONY

    MRONY Formula Junior

    Mar 17, 2007
    707
    New York City
    Full Name:
    Mike O.
    I live in New York, about 30 miles north of the City. The Dino would be driven most days in the summer, but only about 500-750 miles a year, likely sitting in a heated garage through the entire winter, though it could be started and driven a bit when weather allows.

    What an amazing chat room! Wish I'd found it three weeks ago...

    Both cars are pretty remote, one up in vermont (I think RPM worked on the Vermont car), the other in N. Calfornia. Both seem to have spent the majority (or all) of their lives in S. Cal.

    I'm sure both of the dealers read this chat... they seem to be very active, and neither one seems to be willing to budge off their asking price. Guess they know they've got a live one on the line!

    I'd love a mechanic's reference in the NYC area, as well as one in the SF/Portland area who might be able to go see the car there. Of course, I could ask the seller for the name of the mechanic who last worked on the car...
     
  8. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2003
    43,716
    26.806311,-81.755805
    Full Name:
    Dave M.
    Put a post in the NY tri state region if you're looking for a mechanic in that area, they'll be the most familiar with that region, same goes for NW region.

    There aren't a ton of good/great Dinos out there right now, and the ones that are available have no reason to budge on price. Age old law of supply and demand.

    However, buying a Dino right now and planning on appreciation is an iffy thing. Lots of the guys on here think Dinos have topped out for now, although I'm not sure I agree.

    Look for complete repair records, evenif it's only the last few years. Talk to the previous owner, if the dealer will give that up, or look on www.dinoregister.com and see if you can dig up the info by serial number.

    DM
     
  9. Julio Batista

    Julio Batista Formula 3

    Dec 22, 2005
    2,397
    I would also consider a GT as well as a GTS: GT is cheaper, lighter, more rigid, there are more of them available, and it has "purer" aesthetics (IMHO).

    And post pics!

    Cheers,

    Julio
     
  10. tx246

    tx246 F1 Veteran
    Owner Rossa Subscribed

    Nov 4, 2003
    6,660
    Texas
    Full Name:
    Shawn
    more available? in theory, i knwo this has to be correct based on production numbers, but at least in the usa, it seems you are more likely to come across a gts than a gt.

    i think dave's advise is very wise. have the same mechanic do the ppi. even with the cars being across the country from one another, if he would e willing to take a plane ride, you will have the best opinion anyone could offer on which is a "better" car.

    be cautious on the "lower" mileage car. i have nothing to offer as proof, as i have never specifically documented anything, but i have been shocked how more likely a "low" mileage dino is to have stuff that doesn't look right or isn't factory. everything from the wrong steering wheel to engine mods. i am not saying that this is/could be the case here, but make sure the low mileage claims passes the smell test. it would be real easy for a 10k mile cars records/service maintenance books to "disappear" and support the claim rather than disprove it.
     
  11. MRONY

    MRONY Formula Junior

    Mar 17, 2007
    707
    New York City
    Full Name:
    Mike O.
    I agree the GT has a purer look, but I want something that opens up. Once I get into coupes, there's too much else to buy! On the other hand, there are at least 6 or 7 GTS's available for sale, about 10 of GT's, and a bunch in Europe, so there are cars around.

    If I love the car, I doubt I'll sell it anytime soon. I know people buy these things as investments, but collectibles run in cycles with the wider economy. I agree that they've become overpriced, but anyone with any sense right now would put their money into Treasuries and batten down the hatches for Hurricane Hillary or whatever is coming next! This isn't about sense!


    Of course, I could forget the Dino and get a low-miles 360 Spider for the same or less $$! Not the same work of art, but a lot of car...
     
  12. synchro

    synchro F1 Veteran

    Feb 14, 2005
    9,294
    CHNDLR
    Full Name:
    Scott
    Wait until you drive one, you will enjoy it. Only 500-750 miles per year? I put 10,000Kms on my Euro 246 GTS in the last year and a half.

    Where are 246GTS prices at? Near $175k yet?
     
  13. Julio Batista

    Julio Batista Formula 3

    Dec 22, 2005
    2,397
    A lot of car but not much of an investment...

    And an entirely different experience.

    Julio
     
  14. Julio Batista

    Julio Batista Formula 3

    Dec 22, 2005
    2,397
    +1

    Julio
     
  15. MRONY

    MRONY Formula Junior

    Mar 17, 2007
    707
    New York City
    Full Name:
    Mike O.
    A decent but not great 73/74 Euro Dino brings around $150 retail (I know of two that have sold in last 4 weeks), a really good one about $165k. A few really good US cars (Chairs & flares) seem to have brought 175-180, and the price for a good car now is 190, and a superb car 200-225k.

    At this level, there seems no upside left, but a man's gotta do what a man's gotta do!
     
  16. 410SA

    410SA F1 Veteran

    Nov 2, 2003
    8,511
    West Coast
    Full Name:
    A
    Whichever one you buy, a year from now you will be very happy and you will have an appreciating investment grade asset in your portfolio. Dinos are really amongst the most beautiful cars ever produced. They don't have a single straight line on them and when you are out driving and you look over the gorgeous fender bulges from the driver's seat, your heart will skip a beat at the sheer beauty of the car.
     
  17. modmaki

    modmaki Formula 3

    Sep 11, 2006
    1,054
    Michigan,USA
    Full Name:
    Mo Makki
    pattrick ottis in berkley,ca(SF area) is well known he worked on my dino when it was out there and if your car is out west have him look at it i'll cost approx $350.00 money well spent....his #510-849-3553
     
  18. MRONY

    MRONY Formula Junior

    Mar 17, 2007
    707
    New York City
    Full Name:
    Mike O.
    "be cautious on the "lower" mileage car. i have nothing to offer as proof, as i have never specifically documented anything, but i have been shocked how more likely a "low" mileage dino is to have stuff that doesn't look right or isn't factory. everything from the wrong steering wheel to engine mods. i am not saying that this is/could be the case here, but make sure the low mileage claims passes the smell test. it would be real easy for a 10k mile cars records/service maintenance books to "disappear" and support the claim rather than disprove it." ---

    The seller is a dealer who has an excellent rep, and I have a million photos of the car. Where could I find some good reference photos of a '74 US flares and chairs car for comparison?
     
  19. tx246

    tx246 F1 Veteran
    Owner Rossa Subscribed

    Nov 4, 2003
    6,660
    Texas
    Full Name:
    Shawn
    I would be very careful of chairs and flares claims. the majority of cars claimed as such, are not. make sure before you pay any premium, verify it is a real chairs and flares car and not a car that has been redone that way.

    as for euro vs. usa spec. cars, I have not seen any substantial pricing differences.

    in fact, the euro cars are more powerful. there is no reason why they would bring less.
     
  20. modmaki

    modmaki Formula 3

    Sep 11, 2006
    1,054
    Michigan,USA
    Full Name:
    Mo Makki
    look its highlt unlikeley that a 74 dino has 10k on it..these cars where driven and driven hard..the chanses that a dino has 10k is 1 in about 4000 cars thats approx how many dinos were produced...plus as i stated above..... give pattrick ottis a call he'll look at it for you.MO
     
  21. John Corbani

    John Corbani Formula 3
    Honorary Owner

    May 5, 2005
    1,153
    Santa Barbara, CA
    Full Name:
    John Corbani
    I think that the one that has been driven some recently would be a better bet. As lots of folks have said, neither car has really been exercised. If both spent lots of time in SCal that is good. There is no rust proofing anywhere and little or no paint on insides of sheet metal. Check bushings, rubber, inside of hoses. Engine has not really been broken in yet so should be pristine. Advance mechanism of distributor is the best indicator of whether the car has been really cared for. Should be lots of grease and no wear. On both cars. If you don't over-rev the engine will last forever. Compression and leak down tests check valves. Lots of photos and a good inspection of both should help you make up your mind. You will fall in love no matter which you pick. If you really drive it! Don't see any way you will lose money no matter what happens as long as you keep it up. Let us know what you decide. Luck.
    John
     
  22. ferrarinyc

    ferrarinyc Karting

    Nov 5, 2005
    119
    NYC
    Full Name:
    Tony G
    Mrony. Welcome to the best group of Ferrari guys in the world. You will find so much information, knowledge and experience here, especially with Dinos!
    I bought my '72 GTS in Jan of '06 and posted where I thought prices would go in a year. Boy was I wrong! I thought it would be about a 20 to 25% increase. I only regret not buying a GT when I had the chance at the same time.
    Here are some insights I learned when buying my dino.
    1. Buy from someone you trust. Steve at RPM is a good guy. I don't know who you're dealing with in Cali.
    2. Try to see it yourself. Color is important for this purchase, that has no guarantee of apreciating beyond your costs so you better absolutely love it (i.e. vs. a 360).
    3. PPI is a great idea and get it done asap. Post on the respective location sites here for a good mechanic that can do a ppi on a dino. I've done that several times and always found someone very good, even in the Netherlands!
    4. Stick to this country for your first purchase. lot's more complications to import, and you will multiply the headaches of any mistakes.
    5. Don't be afraid to walk away! I did that with a few.
    6. a Mechanic in the NY area. IMHO, there's only one for classic Ferraris, Vinny Latino of Auto Elite. He's old-school Italian with a love for these cars you won't find in most garages. It's not about a business for him, it's about a passion! Great guy and will more often than not actually save you a lot of money with his skills.
    PM me if you want to talk real time about anything else with your purchase. Good luck!
     
  23. MRONY

    MRONY Formula Junior

    Mar 17, 2007
    707
    New York City
    Full Name:
    Mike O.
    The car has a history on dinoregister that supports the mileage claim. A specialist dealer from Fla. told me he tried to buy the car last year (for less money) and he believed it was right.

    I spoke to Pattrick, and he agreed to look at the car (if I can get it to him), so that's what I'm trying to do. Great referral -- he seems like a really straight guy! Man, I'm glad I found this forum!

    As to the Chairs/Flares USA thing, maybe they get better prices here as opposed to Europe? Maybe there are just fewer of them, and they're later cars? Personally, I think the flares are no great addition, though I certainly son't mind them. They seem to widen and lower the stance of the car a bit.
     
  24. jselevan

    jselevan Formula 3

    Nov 2, 2003
    1,873
    If you need a reason not to purchase the car, then get a PPI. If you want the car, buy it and move on. If you are expecting to find a 35 year old car that is not going to surprise you next week, then you need a dose of reality.

    A PPI represents a snap-shot of the state of the car at that moment. There is little that the PPI can tell you about the state of the head gasket next week, a valve guide leak next month, or a brake-line clog the month after.

    Yes, drive the car and arrive at your own opinion. If you know absolutely nothing about cars, then perhaps, the purchase of a 35-year old low-production car is not the best idea. If you know a little about cars, then you can determine from the drive, ease of starting, shifting, and sounds whether there is something of significance that has not been brought to your attention.

    This is not a Honda. It is going to require intervention periodically. In fact, as most on this Chat Board will attest to, intervention is most of the fun.

    If you are advised by a marginal PPI report not to purchase the car, I will guarantee that you will sandpaper your face and kick yourself in the behind 1 year from now when prices have gone up and you have not enjoyed a year of driving the car. After 60 years of not purchasing things that I wished I had, I have learned that there are many excuses not to do things. That you are seeking a Dino speaks to your passion. Don't let the inevitable decay of a 35 year old machine deter you. Buy it, make it better, and don't look back.

    Jim S.
     
  25. MRONY

    MRONY Formula Junior

    Mar 17, 2007
    707
    New York City
    Full Name:
    Mike O.
    Great messsage! I'm actually desperately looking for a reason TO buy that car. But, it's all the money and more. I'm gonna buy a Dino, just a question of which one. I bought and sold a Daytona Spider in 1985 without even taking delivery of it (the dealer in Fla. just sent me a check before I'd even paid for the thing) and got a 911 with the profit -- the stupidest thing I have ever done involving Italians, Germans and four wheels!

    I know these things need a lot of TLC, so no shock there. Just don't want one that needs it all right now! I'm going to get a thorough PPI on the Ca. car, or leave it to someone else, and buy one of the east coast cars that, at least I can have really gone over.

    The good news is that in NY there's a foot of filthy slush on the ground, so there's no rush...
     

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