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Buying a rare vintage Ferrari - U.S. vs. Europe

Discussion in 'Vintage (thru 365 GTC4)' started by zjpj, Mar 25, 2004.

  1. zjpj

    zjpj F1 Veteran

    Nov 4, 2003
    5,938
    USA
    I basically have two questions as a starting point for this discussion.

    1. In the European car magazines that I buy, I have noticed that there are advertised many rare vintage Ferraris for sale, some by auction and some by private dealers. In this month's octane, for example, I see advertised multiple 275s, including a GTB/C, a 340 America Spyder 0196A, 250s, and so on. It seems that there are many MORE vintage Ferraris for sale (or at least advertised) in England than there are in the United States. The only sources that I frequently check are Michael Sheehan and Symbolic's vintage section, although some other dealers might sometimes have some nice offerings. But, my question is: do you get the sense that there are more auctions or more rare Ferraris on the common market there than here. If so, WHY? My impression is that they have more auctions and more for sale from dealers, particularly, say, for a 250 SWB or other old racers.

    2. For modern Euro spec cars, such as a 360, there needs to be a conversion to bring them into the United States. Can someone who knows please tell me what the process is for importiting, say, a 250 or 275 into this country from Europe. Since they are old, they obviously don't need bumper conversions, or that sort of thing. But, what kind of permits, taxes, other duties, etc. are involved? What sort of extra costs can be expected when buying a vintage Ferrari in Europe to bring to the States?
     
  2. El Wayne

    El Wayne Global Moderator
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    Aug 1, 2002
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    San Marino, CA
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    L. Wayne Ausbrooks
    I think my response is only going to address one of the questions in your post, but here goes anyway.

    Two things are happening right now with respect to the vintage Ferrari market in the US and Europe. The first is that the dollar is very soft right now in comparison to the euro. The second is that collector cars, and Ferraris in particular, have seen a sudden increase in popularity in Europe. This, in turn, has also been fed by the dollar/euro equation. While a few specific models seem to have really taken off in value on the other side of the pond (250 Lussos for example), vintage Ferrari values in Europe have risen pretty much across the board. Here in the States, on the other hand, prices have remained more or less flat. Because of this, quite a number of cars seem to be making the journey across the Atlantic and are showing up for sale and at auctions all over Europe.

    The same thing was happening in Japan at one time, until the economy tanked there and the flow of cars was reversed. This constant ebb and flow serves to keep the car brokers healthy, wealthy, and wise.
     
  3. Texas Forever

    Texas Forever Four Time F1 World Champ
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    Apr 28, 2003
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    Texas!
    Zack, do a search on here for a guy named, I believe, Dick Merit (sp?). He is an old Ferrari hand who works at DOT. He should be able to answer your federal importation questions. You can also talk to a company called Amerispec in CT. They do a lot of conversions on modern cars.

    Just remember, the waiting is the hardest part, but the hunt is a big part of the fun.

    Dale

     
  4. amenasce

    amenasce Two Time F1 World Champ
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    Oct 17, 2001
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    Andrew Menasce
    I think Vintage racing is booming in Europe.
     
  5. Texas Forever

    Texas Forever Four Time F1 World Champ
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    Apr 28, 2003
    42,463
    Texas!
    Wayne, I have been told that a big part of this popularity has to do with the cut off date for many rallies in Europe, which is becoming a very popular hobby for aging boomers with money.

    What's your take?

    Dale
     
  6. zjpj

    zjpj F1 Veteran

    Nov 4, 2003
    5,938
    USA
    The racing idea makes sense. And they would probably change hands more too, as you may not want to race the same model season after season.
     

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