Any books on the late 1980's exotic car market bubble?

Discussion in 'Ferrari Discussion (not model specific)' started by jjmalez, Mar 4, 2018.


    SEESPOTRUN Karting

    Mar 26, 2010
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  3. jurgen59

    jurgen59 Rookie

    Jul 9, 2014
    I bought a '95 456 manual 5 years ago for 40.000 euro, price did rise to 60-80k, but still affordable, service is ok, issues are there but no nightmare.
    Drove it from 64.000 to 105.000 nowadays, years to go, I' never need another luxury car. I dont' now why the 456 is not increasing value, but it ok for,
  4. Papadelta

    Papadelta Rookie

    Nov 17, 2011
    SMA, Mexico
    Full Name:
    Peter Dunev
    I posted this elsewhere, but it may be more appropriate here.

    It's been fun reading all these posts. My opinion for what it's worth, is that the stock market mirrors exotic car prices to a great extent. There has been great wealth created over the last 40 years. I was fortunate to have worked on the Street since the early 70s. I've seen the markets rise and fall a few times. In the late 70 and early 80 there were serious bargains to be had, although I didn't think so at the time. I remember rejecting a Daytona because I thought $40,000 was too much for a so-so condition car. I eventually sold all my Ferraris after Enzo died. For a while I thought I was smart, but like all markets one day they recovered. Today I enjoy the memories of when we could drive these cars everywhere, even to the mall. These older Ferraris are just moving art these days. I remember when we could no longer drive these cars with impunity, because the value kept climbing beyond what any insurance company would pay you to repair your car.
    One day I started writing about some cars I owned, and it led to a personal history about the cars I've loved. Rereading the posts recently has brought back a flood of memories I had since forgotten. You can read them here:
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  5. onboost

    onboost Formula Junior

    Apr 13, 2004
    DC Metro area
    Funny, I too was in college right about this time! I was also fortunate enough to be involved with cars that I could not afford and was probably the youngest member of the local Porsche Club at that time. Based on that, and my mechanical aptitude, which was well honed between ownership of numerous British cars, and my part-time stint in the custom motorcycle industry of the time.. I had access to a cadre of local exotic car owners and events. The highlight for me was meeting and becoming friends with a gentleman whom I bought a 356 cabrio from ($3,500), he also owned a BMW 635, and 83 Mondial coupe, and a 67 330GTC. We started-out with him dropping his car off to me (the GTC) for cleanings prior to local concurs events. As he became busier, this lead to him dropping the car off earlier prior to events for partial disassembly and detailing, minor service by me, or I would arrange major service with the local techs for whichever car needed such.. it was great! Eventually, one of the cars was always at my house.. and he would call and ask; "hey, you mind if I use the ---- this weekend?" if wanted that particular car. He'd swing by, pick-up one and drop another off.. always with a credit card, a couple of signed checks, and a list in an envelope in out secret place in the car. I eventually handled the sale of each of the Ferraris, and the BMW was traded. Those were good times!!

    Brian, this is so funny because I actually remember this and not many people seem to.. I mean I actually remember when the ads began to run in Autoweek and probably still have a couple of them floating around here somewhere. The Daytona went-up every week and I was like OMG what's going on.. I'll never get one now!! And I haven't!

    Thanks you for putting this out there... I thought I was the only one who remembered!

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  6. Eric308gtsiqv

    Eric308gtsiqv Formula 3
    Silver Subscribed

    Nov 26, 2001
    Orange Park, Florida
    Full Name:
    Eric Eiland
    I'm enjoying reading your blog, Papadelta -- great stuff!

    Onboost -- how's the 308 treating you? (sorry off topic)
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  8. onboost

    onboost Formula Junior

    Apr 13, 2004
    DC Metro area
    Hey Eric.. How are you?!
    The 308 is treating me just fine, its been a great car.. although not many more mines since the last time you saw it. I only got to drive it twice last year unfortunately, but looking forward to a spring oil change and some other minor service, and then I'll see if I can drive the flat-spots out of the tires this year! Oh, and your old Testa-Rossa is still around too!

    What are you driving these days?
  9. Eric308gtsiqv

    Eric308gtsiqv Formula 3
    Silver Subscribed

    Nov 26, 2001
    Orange Park, Florida
    Full Name:
    Eric Eiland
    All is well...thanks for asking! It's good to hear from you after all these years -- and so glad to hear that you're still enjoying the 308 when possible. Also happy to hear that the TR is still holding up too. For now, I'm between cars...still searching / deciding on what's next. Bought the wife a C7 Stingray, so that car is doing the job for now. (sorry to go off topic, but couldn't find a link for private messaging)
  10. gvpilot

    gvpilot Rookie

    Mar 31, 2014
    In 1987, I accomplished a long time dream at the age of 34. I was/am just a regular working stiff, but through a combination of luck and being in the right place at the right time, I acquired a 1978 308GTB for about $19,000. A 20,000 mile car I believe. After a service to correct neglected maintenance, I had about $22,200 in the car. I drove it all the time, everywhere. Any excuse would do. But, in '89, I of course saw what the market was doing and started thinking about selling. I contacted the local dealer's sales manager whom I had known since 1978 and asked what it was worth, noting I didn't really want to sell it. He told me about $25k, but if I didn't want to sell to put it out there at $35k and see what happened. I really didn't want to sell, but was thinking of expenses down the road such as a re-spray, so I thought, "What the heck?", and put it in the Ferrari Club News Letter at $50k or various acceptable trades and cash. It was gone as soon as the News Letter came out. Took a 928 as partial trade, BAD move, and probably got out after unloading that, with around $44k. I'm certain I've managed to lose all that profit on the many trades since.
    Two years ago, I was wanting a Maranello and trying to get into a financial position to pull the trigger. As we all know, they almost doubled literally over night. I consoled myself with a 2013 Jaguar XKR - fabulous car.
    So, my Ferrari life is done. But, having a friend in the service and restoration business and seeing some of the prices he has to pay for parts, I can't say I'm all that sorry. My new requirements for a car are rugged, reliable, and easy to maintain. No modern exotic meets those requirements. A subjective requirement is beautiful, or at least good looking. American classics meet those requirements, so I'm happy with my 95 Impala SS, boat that she is.
    So, while I will always love Ferraris for what they are and take any opportunity to ride in or drive one, the passion to own one is gone. But at least I am lucky enough to have the memory of owning and driving one. Image Unavailable, Please Login
  11. BoxerCrazy

    BoxerCrazy Formula Junior

    Nov 7, 2002
    Charleston WV
    Full Name:
    Douglas A Hunt
    I was 18 years old in 1980, just discovered 308's [Magnum PI] and such in car & driver [PJ Oroarks cross country drive was in my mind] also read all the ads in the back of Autoweek and I witnessed the boom, thinking wow, I'm a blue collar guy and they are spiraling out of reach and I'm still young.........
    loved reading the Boxer ads in Autoweek, there were a few from the convertors always listing newly imported cars, ahh the memories
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  13. jjmalez

    jjmalez F1 Rookie
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    Apr 8, 2005
    Northern Illinois
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    Thanks to everyone who replied to my post. Interesting stuff indeed.

  14. davidoloan

    davidoloan Formula Junior

    May 6, 2009
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  15. Vilhuer

    Vilhuer Karting

    Aug 3, 2008
    Helsinki, Finland
    It's late eighties all over again.

    Having lived through hype and collapse back then current situation has similar feel to it. For past year I have been on fence between crash and long slow slide down to more reasonable level. Now having seen above video it has pushed me firmly into crash is imminent camp. I'll give it one more year before it hits the fan.

    Not sure if this has been mentioned before but one book might be interesting:
  16. energy88

    energy88 F1 World Champ
    Silver Subscribed

    Jan 21, 2012
    West of Fredericksburg, VA
    Full Name:
    Agree. This video is really an Infomercial for this car investment club. Investment clubs seemed to have been a big deal several years ago during the price surge, but I don't really know what their return has been since then.

    The Wall Street Journal has a Dow Jones Investment-Car Index that lists returns for various cars over the past 5 and 10 years. WSJ has also split their analysis into Buy, Sell, and Hold categories. Somewhat telling is that a 365 GTB is in the Sell column and a 308 QV is in the Hold category. The Buy category is mostly inexpensive cars that have not moved much yet and would be of interest to persons late to the party. Of particular note is the Cadillac Eldorado convertible, which was suppose to have been a sure thing investment 42 years ago, and is probably still under water in real terms.

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  17. Beta Scorpion

    Beta Scorpion Formula 3

    Jun 22, 2006
  18. Beta Scorpion

    Beta Scorpion Formula 3

    Jun 22, 2006
    #40 Beta Scorpion, Apr 23, 2018
    Last edited: Apr 23, 2018
    My 1986 testarossa had been purchased form the first owner for its 'value' at the peak of the boom. It had 14K miles from the first owner. This second owner never drove it and stored it, waiting until the market returned. After ten years of declining testarossa market he sold it to me for $55,000 which was the going price for a low milage single mirror. The single mirror/single bolt was the least desirable at the time.
    I actually had more fun with the car back then, knowing if it got damaged in traffic I could get another from e-bay for $50,000 to $60,000.

    Here is an additional perspective on the Ferrari market at that time.
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