Any upside to Daytonas left?

one more thought Terry.

If you are going to sell it eventually , why repaint Dino Blue? Haven't you heard of resale Red?

 

Terry,
Re: Your question about a recent sale. I did a PPI on a blue coupe with just over 14,000 miles recently, and it was consequently sold. About $255k. Nice original car, repainted though. Needs some work in terms of rubber parts such as suspension bits.
BillB

 

I just need to comment that I love your profile pic, Bill!

 

+1

 

Thanks guys. Just took it yesterday. One's mine, others in for service. My darn camera doesn't have wide angle so it's hard to get a decent shot. I appreciate the comments.

 

Do any of you guys have a view on the upside of RHD Daytonas vs LHD Daytonas? GBP140,000+ seems pretty pricey compared with LHD. I know that RHD is much rarer but how does that reflect in the price?

 

RHD cars have always sold at a premium, even new Ferraris cost more in RHD markets than in the US. The relative rarity of RHD Daytonas (between 148 & 179 built, depending on who you read) ensures that the premium continues.

Euro cars (all RHD were euro spec) avoid the side reflectors and have a slightly more free flowing exhaust, both desirable points IMO.

Most recent GTB sale in Australia was A$330K, which equates to GBP140K.

I neither know nor care if price growth will continue, can only advise that these cars suffer if not used and even a perfect car will probably require 5% of its value spent annually on the right maintenance.

 

There's a Daytona on e-bay right now for a buy it now price of $201,000. Don't know what condition it is, but my impression is that this is at the very lower end of prices I have seen for a Daytona in some months. Also, Fantasy Junction just lowered the price on the Daytona they are selling.

Does this indicate that Daytona prices have peaked? With Paul's observations about 275 and Lusso prices, I wonder if the entire market may have peaked?

Alberto

 

I have owned my Daytona for over 3 years now and it has been absolutely trouble free. I use it occasionally and get it serviced twice per year by the Ferrari agent. I was interested in your comments on the Aussie market. I have received a lot of unsolicited offers on mine which I am reluctant to sell as it is registered in HK.

 

My sense is that the market has not peaked, but has rather stalled at the moment, digesting some very large gains over the last couple of years. When you consider that marginal cars are now selling for 200k, which was the absolute top of the market two years ago, that says a lot. I think there is also some seasonality to the market. The major auctions here in January should give a good indication of where the market is going, though I don't see any Daytonas in either Barrett Jackson or RM. One comment I would make though is that BJ turned away four cars for every one that they consigned implying that there is no shortage of cars (probably mostly muscle cars) for sale. For whatever it is worth 10% of their auction is Corvettes!

 

Appreciate your sensible comments. Please keep us informed of any developments in the US auctions. There really does seem to be a lot of interest in HK right now for RHD cars

 

BJ is about as effective a guage of the overall collector car market as George Bush is an example of exellence in public speaking!

OF COARSE there are 4 or more cars fighting to get into every BJ auction slot. Where else can you hope to get 50% or more over market for your car due to hyped up drunken rich guys fighting to make idiots out of themselves on TV?

BJ is the place to SELL, provided you have a muscle car. Its not a place I would go to buy anything.

YMMV!



Terry

 

Terry:
I agree with you that BJ is not the place to buy ANY car and yes, there is a major Scottsdale effect that is now exacerbated by the 5 minutes of fame syndrome of being on Speedvision, but I do think if you look at history BJ and the RM auctions in Phoenix are somewhat of a bellwether for market direction for the year. My point was that consignments were up, an extra day has been added, and if anything supply is coming to market. It quite frankly might be the sign of a market top for Muscle cars.
dry

 

Wouldnt surprise me a bit. The Muscle car market has been out of control for a couple of years now. When it starts to "correct" I think LOTS of recent buyers will be bailing out in a panic when their "investment" isnt looking so rosy any more. They may find that dumping a Chevelle isnt like dumping Microsoft stock.



Terry

 

Over the past several years Daytonas has experienced large gains, except for this last year which didn't show the same, strong gains.

 

This is a very reasoned and thoughtful thread (I cant believe I read all seven pages). However, it seems to have left the original topic (any upside to Daytona's left).


One should not mistake Barrett Jackson or Fantasy Junction prices as anywhere near reality.
Two years ago, very nice Daytonas traded hands for $125K.
Six months ago it was $225K.
They are now $195K.

Five years ago, my friend Bob and I laughed at someone asking $185K for a two cam 275GTB. I was just shown one for $725K.

Daytona's are cheap and 275s are stupid money. I LOVE the 275 but the 275/Daytona mutiiple is insulting and will decline.

I am not smart enough (I am just being humble, I actually am smart enough to say if the values will go up or down (they will go up over time).

 

Daytonas need to reach the magic 40 year old valuation liftoff threshold.
When they do they will suddenly become '"rarer" than before as the under 40/suddenly rich/hedge fund manager/newbie car collector will only buy cars older than themselves

BTW, where exactly did you see a $725K 275GTB?

 

As to the original topic.... NOBODY can say with any conviction as there is little to no evidence to demonstrate.

There are 4 Daytonas in the current issue of FML. The asking prices are $265K, $229,500, $295K and $272K.

What does that mean? Absolutely nothing.

I drove my Daytona around today and even took Carbon (NNO) for a ride. How much is it worth? Gotta be a million bucks at least....



Fang

 

"BTW, where exactly did you see a $725K 275GTB?"

http://www.lmccars.com/

jts

 

Thanks. I know that car. It is, if you can even say such a thing, the least desirable of the 275's. Two cam three carb car. At least it has a torque tube chassis, but the price is "appropriate " in light of what other 275's have done lately. Terry at LM cars sold an alloy bodied 4 cam a few weeks ago for more than $2 million and that car needed a conservative $100k of work!

 

Update.

Algar Daytona SOLD~!!!

Here's a pic.

No, I don't know selling price but asking was $273K+-
Image Unavailable, Please Login

 

After seeing the pics in the Daytona resto thread, it makes me wonder how many of those beautifully restored cars are REALLY restored. How many of those high dollar Daytonas are really sugar coated rust buckets in need of a REAL restoration underneath?

 

The Algar Daytona is, or was, a very nice Daytona back in the early nineties. Patrick Ottis did a lot of work on it. It didn't have velocity stacks and the updated ignition back then.

I'm not sure where one can purchase a good Daytona for $195K as mentioned above. But, if you can, I would buy it.

The $725K for a decent car is about right for a torque tube car given the current market. Yup, Daytonas and C/4s, relatively speaking, are a great deal at current market prices.

I thought Terry sold the Alloy Body 275 GTB/4 months ago, supposedly taking in a bunch of cars on trade for around $1.8M? Either way, it's big money. It was one of two known alloy body cars with outside fuel fillers from the factory. (There could be more, but I haven't seen any documentation to that fact.) I don't believe this one had a hot motor from the factory though.

Steve