Two Daytonas are up for sale on Ebay currently: a coupe #16947 for an asking price of $285K and a Straman chop #16837 for an asking price of $275K. It's hard to watch Daytona values crash with the rest of the market. Both cars appear to be very well presented. Perhaps the recent Gooding auction of a nice coupe for $260K (without fees) hasn't helped. Of course, for those seeking a Daytona, the silver lining is that they're more affordable.
Yes, I was surprised at those two offerings as well. They are both from Symbolic. Bill? Do you care to comment? The Gooding car that sold for $286 with buyers fees was WHITE. That has to be a hit of 10-20% due to the color. Clearly the market is down, but that is after a pretty strong run. Everything (house, car, 401K, art, etc.) is down 30-40%, why should our toys be any different (I am actually quite pleased they have held up as well as they have).
Cavallino 2008 Gold at $285k: http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=150322297089&ssPageName=ADME:B:SS:MOTORS:1123 I try to just drive, and not think about what I paid last year, pre-crash, for mine. Edit - I see that's one of the cars referred to by the OP. Has anyone seen the car?
Yes the two Daytonas mentioned are our cars. Both are likely top level cars if you are looking for a well documented show proven coupe or a fully restored Straman Spyder. We also have a perfect Lusso and outstanding PF SI Coupe on ebay at extremely attractive and realistic prices. No mystery guys, we usually have cars exactly like these and always priced at real market values. We do not set the market, just cater to buyers and seller where ever it is at a given moment. Some Daytonas are nicer than others, others are not as nice... In the end, every vehicle should be treated as the individual machine that it is. As for the cars sold at auction over the weekend, unless someone has a copy of our contract, no one except Gooding and Company and RM knows what we paid or if we paid commissions. I mentioned several times before that when you buy a car at auction the price should always reflect the buyers commission which at Gooding and RM is a fixed 10%. You should not factor in a seller's commission unless you know there is one. Each car is treated by the auction company on its own merits. The auction companies would like commissions on both sides but to get certain cars at real reserves, they are more than flexible and willing to work out a deal. I made comments before that the cars we sold at auction made us very happy as well as hopefully making the new owners very happy. If we were not happy, we would not have put them in the sales at the reserves we did. I sold another exceptional Daytona this week for close to $400K to a long-term repeat client. As usual he fully believes he took advantage of me and our good nature and I likewise think of him as a complete fool for parting with his hard earned money. We will have many good jokes about it over the weekend and argue repeatedly who actually got the better end of the deal. We will keep arguing until we do another deal... It has been like that for more than 15 years. (I like clients like this) As for Daytonas in general, I personally believe excellent examples are anywhere from $250K to just shy $400K. Most are going to be in the $275K range. Others will argue and disagree... I on the other hand can back up my statements by repeated sales and repeat happy clients. (Gerald Roush once told me he thought more than 100 or so Daytonas had come and gone my way... of course that was five to seven years ago... I have long since lost count of how many and which ones were which...) A second point that might be worth considering is the fact that while everyone is claiming a crash in the Daytona market at drastically reduced prices, we never set the "high prices" achieved by some. Most of my clients who have Daytonas own them from purchase prices ranging from $125K to $325K. The most I have gouged out of a client on a normal road car that I can recall was $375K. Most however were far closer to $225K. In fact if you came to buy a Daytona Coupe from me over the past four years the average actual selling price has not varied much from the current $275K or so. From my perspective some owners might be complaining of a crash in the market. I on the other hand am very happy to see so many nice cars coming on the market and finding fresh homes and lots of smiling faces. One thing for sure. I have yet to meet a single owner of a Daytona or other significant machine who has been in a panic or desperate need to sell. I wish there were some owners like this as we love making money and are all to happy to buy at a discount. The truth is, most owners are happy with their cars and those that are not seem to have as easy a time selling as we do, as long as the prices are market correct. Just my 2 cents... I could be wrong! Cheers, Bill Noon By the way... I am here at Cavallino... anyone is welcome to ring me directly on my mobile phone over the weekend at 619 840 7811 or email me at [email protected]
How does the condition of the Daytona sold at auction compare to the one on Ebay, if you don't mind me asking? I soppouse a $400k Daytona is plaitnum completely restored type of car?
Hi Rammer, The white / red ex-Skeets Dunn Daytona sold at Gooding was exceptionally nice to the point of almost being over restored. It was a color change and an interior change in color so that was a not a plus factor in its value. It was however a fresh zero hours, zero use restoration to FCA standards and excepting for lack of books and tools about as nice as they get. The red car coupe in our showroom is about the same except it has always been treated as a survivor / serviced / show car since the third owner on going back to 1978. It also lacks tools but it is in its original colors of red with a black interior and being a late US car also helps in value. It took a gold last year at Cavallino due to the missing tools and we just did a full service and full transaxle rebuild. I like it and promise you that as nice as it looks in the showroom.... it would look nicer in your garage! As for the one I sold this week, it was atypical of most Daytonas. It was sold for a premium price but there were reasons for this. The paint was very rough and it was heavily modified car but it was built with full FIA Gr4 features. Most importantly it had a documented period Le Mans Race Engine. The new owner is likely going to be able to pull the right stings with his connections at Ferrari and get the full history on the engine, which races etc... Knowing him and how he works, I bet the car will get a waiver and show up in Europe at the Ferrari Challenge races as well as many other nice events. Cheers, Bill
I suspect that if a person wanted a Daytona (or a Dino, or some such) this might be the perfect time. While the prices seem to be adjusting down for now, you just have to wonder what inflation might do to them over the next year or so - given the huge amounts of unsupported cash being thrown at the economy by the government. Also that when the lending system ever recovers, that might add to the rush for some buyers.
The Daytona doesn't have the appeal. When it comes to voting for the most beautiful Ferrari no other gets talked down as much.
Me too!!! while the 275 is nothing to gripe about i have always been stirred by the shape of the Daytona, especially after watching the Gumball rally!!!!! doug
In it's day, I recall that hardly anybody gave it very many style points over either the Miura or the Ghibli. Now, after all these years, it probably is at least the equal of either. In particular, the Miura has not aged well to my eyes - in the metal they are starting to look just a little odd nowadays.
The Daytona doesn't have the appeal. When it comes to voting for the most beautiful Ferrari no other one gets talked down as much. I'm not looking for a fight but will defend all day long. I'm not so concerned if it does not prevail in a vote of most beautiful. Just nice to be remembered, let alone loved by so many. My car is offered for sale but I will happily drive her forever, collecting untold compliments along the way, just as it has been for the last ten years. It happened the last two days among many others. PS. I'm going out tommorow again. Yeah Baby Yeah!!!
When I first saw the title of this thread I was very scared that there was an on track incident involving two of our cars. While I can't say that it was a great relief, it was a little let down, it really doesn't hurt many owners, myself included. The only reason I'm willing to give up such a great driving car and experience is to move up. Failing that. what I have has never failed to please me. I will be, and am, contemplating a full on restoration, but the car is perfect as is. For me at least. A classic V-12 Ferrari beauty.
You cant argue with the Daytona's all conquering performance as a street car that could not be matched by others! It has some racing pedigree (second overall at Daytona, 10 years after being designed). Enzo was involved in its development. Is it more desireable than an SWB, or 275? No! Can you bring one of those into your garage for $250K? A Daytona could be the pinacle of my motoring aspirations.....and oh yeah, its a mans car! just my 2cents.
The daytona is the Ferrari muscle-car front-engine rear drive big torque slightly jacked up in the rear looks like it could pull a wheelie just sitting at the concours...
Hi Bill Noon, This is not meant to be a disrespect to you. But I think it would be unfair to characterize the SMC Lusso as perfect. It would especially be unfair to individuals that were responsible for restoring the green car that sold in Maranello 2008 and the McQueen car. Regards, john
I think it has a lot to do what styling is in vogue at any particular time. The Daytona was a break-away from the more or less classic style, the sixties representing a 'revolution' in car-styling. Since then, at times, when the general taste was towards long swooping lines they were expensive, at times when curves were the in-thing they were cheap. Alltogether the Daytona has conquered the test of time very well, and then there is the thrill-factor, and indeed, the racing pedigree. It's place in time cannot be disputed.
Getting back to the original question. There are two other Daytona's on E-bay:- Red Coupe $300-$375 and a yellow coupe $425 offers around. As Bill said, so much depends on condition, my car is being restored properly at the moment and I would guess it will be well over $100,000. Most cars of this age, that have not had this done will need it soon, if you want to keep it top condition. So in the end, you get what you pay for, as they say. Grant.
Hi John, It would be unfair to the previous owner who spent $300K while consulting with three of the FCA class judges on what to do and what not to do during the restoration. I only purchased the car and will pass it on to the next owner but someone wrote checks under consultation by those who judge them. If you want to argue about what is right and wrong... you need to speak with those who deduct and ad the points, not me. I have a very different opinion as I am well aware how actually poorly build and how many problems were built into the cars when new. The cars are actually so much better so many years later than they ever were when new. Today, our car is exactly as it was when it left the restoration, I have added less then 20 miles since that was done. Cheers, Bill
The asking prices of the other two Daytonas on Ebay are rediculous, wishful thinking in today's market. I do applaud the individuals and dealers who are trying to maintain the value of the marque, but they will not be selling any cars. Mr. Noon is pragmatic in trying to move his cars before the market drops further. It would not surprise me to see Daytonas under $200K before this depression is over. People who are currently doing $100K restorations on their cars should plan on keeping them for a long, long time. Because in the end, restoring a car in this market may be like throwing 40 billion at Citibank only to have the bank worth 20 billion.
