Best venue for selling a Dino | FerrariChat

Best venue for selling a Dino

Discussion in '206/246' started by solly, Jul 19, 2018.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. solly

    solly Formula 3

    Jun 2, 2001
    1,148
    Westchester NY
    Full Name:
    Dr. Steven S.
    I fractured my spine and broke a few ribs about 14 years ago dirt biking with my son. No surgery, just 4 months of rest. Last May (2017) I did it again (no motorcycle involved, just a highly improbable series of events which rapidly became probable, then inevitable). This time I had to sell my practice and retire a few years earlier than planned. I was warned no more motorcycles and no more racing, not even trackdays. So I sold off my Challenge car and an SCCA CSR racer, the Harley and the dirt bikes. I couldn't drive the 360 comfortably so I sold that too last summer. Which brings me to the first Ferrari I ever bought (in 2001), and the only Ferrari remaining in the garage, a 1974 Dino 246 GTS. I have loved that car since I was 16, but I cannot drive it due to sciatica, it's tough to get in and out with my chronic back pain, and my kids like other cars better. I just looked at my service records, and the car had 58,641 miles in 2014. It just turned 60,000 last week. I bought it with 44,000 miles showing back in 2001. So I'm not using it much. I think I will have to sell it, because if it just sits around it will deteriorate. It needs to be driven regularly. Values have gone down from their 2015 highs, but Hagerty's valuation tool puts it somewhere between $315K and $345K. According to their guidelines the car is somewhere between a 2 and 3. It is a driver, but it has won a bunch of awards (first in class at Greenwich, a Gold at Concorso Ferrari, first in class at Old Westbury, third overall at Bridgehampton) when I still cared about showing it. It's a great car mechanically and cosmetically and I put a lot of money into it over the years to keep it that way.
    My local dealer tells me he would buy it outright for $280K. I'd like to try and do a bit better. I can't sell it privately because I don't want a ton of people stopping by for a test drive and then a buyer complaining 3 months later about some idiotic issue. Which leaves consignment or auction, or selling to a small group of knowledgeable enthusiasts. I'm leaning towards auction. I'm also going to post it in the classified section here, where buyers at least know the basics, and where some members know the car from NY FCA events.
    Any recommendations for auction houses and venues? Do any of the auction houses specialize in vintage cars? Gooding's Pebble Beach sale has one Dino listed, and a good number of Ferraris from the 60's thru 2018. Sotheby's? RM? Gooding? I'm pretty upset about this, it was my dream car for so many years, and has my skinned and bleeding knuckles and fingers in the engine bay to prove it. I hope it finds a good home
    Any feedback will be much appreciated.
    Image Unavailable, Please Login
     

    Attached Files:

  2. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    12,380
    South East
    Full Name:
    Jimmie
    How sad for you

    Not sure if auction is the best route as it depends very much on the day - lets say it only reaches $ 315 because to the buyer that costs the $ 345 suggested as a maximum by Hagerty then that will still only net you $ 280 but with more stress

    I'd have thought the ad here (plus this thread!) and/or a few more calls than just to the local specialist might optimize your net
     
  3. Neelfryer

    Neelfryer Formula Junior

    Jan 11, 2017
    321
    Beverly Hills
    Full Name:
    John
    #3 Neelfryer, Jul 20, 2018
    Last edited: Jul 20, 2018
    I think the right auction house can get you 300 net to you or more depending on the condition

    and remember almost ALL of the auction houses that handle cars like a Dino will set a reserve

    GOODING in Scottsdale in January would be a good fit for that car - or any one of them at Pebble Beach - you will pay 8% as the seller and you have to pay for the spot in the auction which might be 1500 - 2k and you have to ship it there etc.

    But a call to Gooding will have them willing to come see the car and give you an opinion as to what they would list the range at the auction

    Meaning, your car will be on their site with photos and a suggested range of sale price which I think bidders follow pretty closely

    I have sold many cars at Barrett Jackson Scottsdale and that is NO RESERVE - that is NOT the place for your GTS

    RM Southeby's - or Gooding

    Ok - I just found the 74 GTS that is running through RM - and the owner is running it at no reserve

    https://rmsothebys.com/en/auctions/MO18/Monterey/lots/r0017-1974-ferrari-dino-246-gts-by-scaglietti/681159
     
    wjw300tt likes this.
  4. Neelfryer

    Neelfryer Formula Junior

    Jan 11, 2017
    321
    Beverly Hills
    Full Name:
    John
  5. racerboy9

    racerboy9 F1 Rookie
    Silver Subscribed

    Nov 3, 2003
    2,542
    Bring a Trailer may be an option. They auctioned a Lancia Stratos on that site that went for $480K and many other high-end cars have sold there as well. I think the max commission they get is $5k. I have heard they urge you to have a low reserve but you don't have to. Worth checking out.
     
  6. Neelfryer

    Neelfryer Formula Junior

    Jan 11, 2017
    321
    Beverly Hills
    Full Name:
    John
    Bring a trailer is worth a try - I bought a 71 911S off of there - and the guy I dealt with is a professional seller fro people on BAT

    meaning he preps and sells the car fro the owners - he was a nice and very knowledgeable guy

    he also warehouses the cars etc. - he takes the pictures and writes the listings and I think he told me that BAT only charges the buyer 5% - the seller doesn't pay a commission - maybe small listing fee

    I am happy to put you in touch with him - he is located here in LA - and I know you are in NY
     
  7. 19633500GT

    19633500GT F1 World Champ
    Rossa Subscribed

    Nov 9, 2010
    12,280
    Blueberry
    Full Name:
    Muffin-Tops
  8. vrooom

    vrooom Formula Junior

    Jan 29, 2007
    449
    unless you really need the money DON'T SELL IT. you said it was your dream car . i would hang on and enjoy just having it , better than regret selling. in time the value will rise as well.in my opinion the dino is the last of the classic ferraris. its styling is right out of the 275 gtb mold. good luck
     
  9. solly

    solly Formula 3

    Jun 2, 2001
    1,148
    Westchester NY
    Full Name:
    Dr. Steven S.
    Thanks to all of you for the advice, contacts and info. I really need to give this more thought. I don't really need the money, and it doesn't really matter to me if future values go up or down. Sure it would be nice to sell this when I hit 70 in 10 years and fund my new yacht, but if it goes down to what I paid for it, or lower, it won't impact my lifestyle. I do think I would miss it very much, so I'm going to take a week to make a final decision. I just hate to see it sitting in the garage knowing it might be a long while before I can get into it again.
     
  10. kjw9028

    kjw9028 Karting
    Silver Subscribed

    Jan 3, 2010
    152
    Sylvania,Oh-Naples,F
    Full Name:
    Ken Wise
    I am selling a 1953 Corvette at the RM sale in Monterey this year. Selling and buying fees are 12% up to $250,000 and 10% after. I think Gooding is now the same. The average priced car this year is $700,000 and I've heard to be in the auction, anything under $500,000 has to be no reserve.
     
    375+ and Neelfryer like this.
  11. swift53

    swift53 F1 Veteran
    Rossa Subscribed

    Nov 17, 2007
    7,018
    E.S.
    Full Name:
    Alberto
    If it is not going to change your life substantially, why sell it.
    If you really want to sell it, I would make a private deal on f-chat
    where we all know each other. Auctions? Not really ;)

    I would get, of course I am going out on a limb here, a fitted seat that will make life bearable in Dino, otherwise how do you manage the rest of the day?

    Best wishes for a speedy recovery!
    Regards, Alberto
     
  12. Neelfryer

    Neelfryer Formula Junior

    Jan 11, 2017
    321
    Beverly Hills
    Full Name:
    John

    Thanks for this info - I had no idea of the structure of those auctions - Barrett Jackson is my only real user experience - please report further about your experience up there - and good luck !
     
  13. Neelfryer

    Neelfryer Formula Junior

    Jan 11, 2017
    321
    Beverly Hills
    Full Name:
    John
    Solly - keep it - if you're only 60 - set getting in and out of the DINO a goal for your rehab - I will be in Armonk NY in a few weeks visiting my family

    (i'm originally from that part of the world) - I am happy to come by and take your for spin in your own car - I have a 74 GTS
     
  14. Ferrari 308 GTB

    Ferrari 308 GTB F1 Veteran

    Feb 21, 2015
    7,842
    Tropical
    Seems like $300 might be the magic number ,if your dealer offered $280 i guess they would put on another $50+ to flip it.

    I would think your first try would be FChat,which is what you say you will do, then if no luck how about a consignment with a dealer?The car can sit in their premises out of sight ,so you would gradually get used to not seeing her sitting there in your garage,then you can quietly let her slip away.. as you are not desperate for the $$ from a potentially quicker sale through an auction.

    Tough decision i can imagine,good luck,the new Yacht is going to need quite a lot of effort and $$$ too,tell me about it;)
     
  15. kjw9028

    kjw9028 Karting
    Silver Subscribed

    Jan 3, 2010
    152
    Sylvania,Oh-Naples,F
    Full Name:
    Ken Wise
    Thanks. I might add in my case it is also $2000 to ship it out there and $1500 for entry fee. RM does do a marvelous job taking pictures and presenting their cars, i guess thats what you're paying for. As one poster stated, if you would be able to sell this Dino at a high line auction, I think RM and Gooding are best, and you hammered at $325,000, by the time you subtract commissions of $37,500, entry fee of $1500, transportation costs, lodging and everything else that goes along with it, you'd be lucky to net $280,000 anyway. Your dealer may not be to far off!
     
  16. HMB-Dino

    HMB-Dino Formula 3
    Silver Subscribed

    Jun 28, 2010
    2,198
    Pebble Beach, CA
    Full Name:
    RonG
    RM has gone up to 12%, but my specialist friend at Gooding just confirmed that they remain at 10%.
     
  17. kjw9028

    kjw9028 Karting
    Silver Subscribed

    Jan 3, 2010
    152
    Sylvania,Oh-Naples,F
    Full Name:
    Ken Wise
    Saw that on the buy side, heard they are still at 12% to $250,000 and 10% after on to seller. i know a lot of people weren't happy with RM nor Gooding at Amelia when they raised rates from 10%. The rates can be negotiated as well if you're a good customer. Would be nice and seems fair to bring them down to 10%, I hope your right. I have a couple of friends selling at both, I'll see if I can check with them to see what they're paying.
     
  18. 375+

    375+ F1 World Champ
    Silver Subscribed

    Dec 28, 2005
    12,477
    Sellers commissions are negotiable. Buyers commissions are not to my knowledge unless it is a post-block transaction.
     
  19. solly

    solly Formula 3

    Jun 2, 2001
    1,148
    Westchester NY
    Full Name:
    Dr. Steven S.
    John- I'm 10 minutes from Armonk. If you get some free time while visiting your relatives you are welcome to come by and drive me around. Never been in the passenger seat of the Dino (except this one time, at band camp.....). Seriously, would love to meet another car nut. BTW, saw your list of cars and seems like we have similar taste. I've owned 2 Cadillacs (Sedan DeVille and Eldorado convertible), 2 Corvettes (79 and 85), a '69 Chevelle SS 396 (stolen in Manhattan back in the late 70's), a 993 Porsche cabrio (which I should have kept, but who knew?), but no electric cars. PM me if you get temporarily bored with your family. I've got lots of friends with lots of great cars we can visit.

    Everyone else- thank you for the wealth of info and advice. I'm going to ruminate on it for a week or so.
     
  20. Neelfryer

    Neelfryer Formula Junior

    Jan 11, 2017
    321
    Beverly Hills
    Full Name:
    John

    Solly - I am gonna try to take you up on the invite - I should be in the Armonk area August 1 - August 8 - I will message you here with a cell number - let's see if we can connect - cheers - john
     
  21. npwmd2

    npwmd2 Karting

    Mar 31, 2015
    229
    Hudson Valley
    Full Name:
    Neal
    John, Steve, I'm in Tuxedo Park drive over the bridge for a visit if you want?
     
  22. Skippr1999

    Skippr1999 F1 Rookie
    Silver Subscribed

    Dec 22, 2009
    4,257
  23. epozarny

    epozarny Rookie

    Jan 18, 2014
    41
    Los Angeles
    Hi Solly,
    A friend of mine would like to speak with you about the Dino, can you send me your email or cell so he can contact you?

    Thanks,
    Evan
     
  24. solly

    solly Formula 3

    Jun 2, 2001
    1,148
    Westchester NY
    Full Name:
    Dr. Steven S.
    OK. John-just give me a call at home. 914 461-3455. If Neal is around we'll take a little ride up to Tuxedo Park and maybe stop in at World Wide in Nyack. Glad you're coming early August because I'm planning on going to Pebble Beach late August. A friend who is a dealer has a $10M early Ferrari in RM/Sotheby's auction, it's his first big auction, he's nervous as hell, so I'm going for moral support. I have lots of family in LA/Napa so I can kill 2 birds with one stone.
    Evan- my cell is 914 450-5164 but reception in the hills here is spotty. Best to call my home number posted above.
     
  25. epozarny

    epozarny Rookie

    Jan 18, 2014
    41
    Los Angeles
    Thanks, I passed on your number to my friend Ira.
     

Share This Page