Daytonas crash | Page 2 | FerrariChat

Daytonas crash

Discussion in 'Vintage (thru 365 GTC4)' started by Zarathustra, Jan 21, 2009.

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  1. premieram

    premieram Karting

    Jun 10, 2004
    211
    All over the place
    Full Name:
    Joseph T. Seminetta
    It must be nice to know what is definitely going to happen in the future (and someone forgot to tell me that this was or will be a depression). Silly post.
     
  2. RAMMER

    RAMMER Formula 3

    Feb 20, 2004
    1,186
    Miami
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    Rammer
    It is amazing how cruel the posts on these types of threads are. That is a dreawback to the internet....one just types facing a computer and not in front of "real" individuals. I was with a goup of enthusiasts at Cavallino yesterday and not once did I hear comments laced with glee in refence to others loosing money. I know we should all face the reality of the times but there is no need be cruel about it. By the way, my lowly glass 308 wasnt worth much before and it isnt worth much now:) This is all about being good human beings to our fellow neighbors.
     
  3. billnoon

    billnoon Formula 3
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    Aug 22, 2003
    1,176
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    Bill Noon
    Hi Rammer,

    I am here at the show as well. Nice comments and well put words. Is our Glass 308 here? I am a huge fan of them, one of my all time favorites and I am hoping to get another to go into my own collection. If you know any for sale, even a project example, please let me know.

    Cheers,

    Bill Noon
     
  4. targanero

    targanero Formula 3

    May 31, 2005
    1,661
    New York
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    Simon
    Some driver daytonas will be under $200k this year and some nicer dinos will be under $100k sooner that that. Prices only peaked last summer and considering the economic environment the entire planet is currently in, vintage Ferrari prices aren't going to be bottoming out any time soon.
     
  5. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
    3,005
    Midwest
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    Geno
    Hi Bill,

    I know of a glass car localy here in PB. What are they worth? $40k-$60K ?

    Gene.

     
  6. Wheels1

    Wheels1 F1 Rookie
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    Oct 23, 2007
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    Grant


    Don't worry yourself about it Mr. Robinson.
    If you have read my thread on the restoration of my car, you will see it's clear, that i am not in it for the money, i am doing it because i love Daytona Spyders, and for the once in my live time opportunity to own, my all time dream car. [ not unless i win the lottery of course]! Then i could get two.
    Grant
     
  7. Zarathustra

    Zarathustra Formula Junior
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    May 7, 2006
    863
    Hawaii
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    Gary Robinson
    Well done, Grant!
    That's the spirit!
     
  8. Zarathustra

    Zarathustra Formula Junior
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    May 7, 2006
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    Gary Robinson
    Two notes, Mr. "premeram":
    1. It would behove you to note the qualifiers in my sentences that eschew certainty.

    2. Unlike the term "recession," formally agreed upon as two periods of negative GDP, the term "depression" has no agreed upon definition. So there will never be an official government decree that we are in a depression. In fact, the terms recession and depression are frequently used interchangeably in the US and Canada. Some economists suggest two rule-of-thumb qualifications for a depression: a negative GDP of 10% lasting for 3 years. This is a nice, after-the-fact descriptor, but many feel that today's unusually dangerous recession merrits the more serious term "depression."

    The collector car market and manufactures are in a precarious situation and it's disconcerting to watch people become overly vested in their toys as Rome burns around them. But it's only money and why not fulfill your dreams when you can.
     
  9. RAMMER

    RAMMER Formula 3

    Feb 20, 2004
    1,186
    Miami
    Full Name:
    Rammer
    My GTB is at home as I went to the lectures and show with two friends. I will forward you any info on glass cars I see for sale. I know of one and will send you a pm.
    OTE=billnoon;138363672]Hi Rammer,

    I am here at the show as well. Nice comments and well put words. Is our Glass 308 here? I am a huge fan of them, one of my all time favorites and I am hoping to get another to go into my own collection. If you know any for sale, even a project example, please let me know.

    Cheers,

    Bill Noon[/QUOTE]
     
  10. Zarathustra

    Zarathustra Formula Junior
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    May 7, 2006
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    Gary Robinson
    None of the participants in this thread have been cruel, Mr. Rammer. Most have been simply pragmatic. Though I agree, I would prefer to discuss topics with "real" individuals who don't hide behind nick names, people with honest personal profiles, not afraid of disclosing who they are.

    I also don't find any glee in these voices. All of us are concerned about the sports car market which is directly tied to the general prosperity of the country. But I do find a lingering head-in-the-sand attitude amongst Ferrari enthusiasts towards how serious this economic problem is and whether or not it will effect their prized posessions.

    Your glass 308 is an good investment because its value can't fluxuate very much. And Daytonas at the price Mr. Noon is offering them at aren't bad investments either. Even if Daytonas were to drop another $75K, that's much better than the depreciation common to new V12s. And then the Daytona WILL re-appreciate once the market corrects, as opposed to being just another (550, 575, 599) used car.

    Is chatting about capitalism, suffused with the egotism of Ferrari ownership, all about "being good human beings to our fellow neighbors"?
    For those uneffected by the economic problem, it's a great opportunity to pick up a decent Daytona now, just like the 50%-off sales at the mall. Perhaps these people can express some glee.
     
  11. Enzo Who?

    Enzo Who? Rookie
    BANNED

    Dec 20, 2008
    17
    Considering the fact that these car are beastly to drive any real distance, it's amazing that they command the values "the market" has granted them. Everyone should be happy, except for the Gent. who bought one last year.
     
  12. mdw3

    mdw3 Karting

    Jan 2, 2005
    194
    Los Angeles, CA
    Full Name:
    Michael
    Really? I have driven thousands of miles on long-range, high-speed trips in mine, and it has been a real pleasure. In fact, the car was specifically designed for this task. If your experience was different, I think you may have had a bad example.

    Michael
     
  13. Daytonafan

    Daytonafan F1 Rookie

    Oct 18, 2003
    2,748
    Surrey, England
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    Matthew
    +1 The Daytona is a fantastic long distance car. Only downsides are terrible wipers if it rains and it's inabilty to go past a petrol station without needing to fill up.
     
  14. malcolmb

    malcolmb Formula 3
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    Apr 17, 2002
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    Malcolm Barksdale
    #39 malcolmb, Jan 27, 2009
    Last edited by a moderator: Sep 7, 2017
    Daytonas are terrific road cars-hot, smelly, noisy, what could be better. I have driven mine 32000 miles since 2001, across the USA to NO twice, to Boulder for BBQ, twice to Monterey and to the GTTS Rally last year where it logged 4200 miles in 9 days.The heater works well, the AC is almost good enough[wear shorts when you cross the Mohave] and the cars tracks straight even when the road is rough.
    Can we all agree that they have heavy steering at slow speeds so it doest need to get mentioned in each new thread? Dont drive it slowly.Malcolm
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  15. Daytonafan

    Daytonafan F1 Rookie

    Oct 18, 2003
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    Agreed and great pics. I wish I had taken some pics of my Daytona covered in dead bugs and dirt after the classic Le Mans trip last year.
     
  16. billnoon

    billnoon Formula 3
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    Aug 22, 2003
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    Bill Noon
    I just got back from Cavallino and have been rather busy getting back to those I met, re-met and those who asked for assistance...

    The sale of our FIA GR4 Daytona Conversion closed earlier today right on time. New owner is itching to get delivery and we were more than happy to cash his check! More good business since the Daytona market crashed. Another of our Daytona's is out on inspection with another local dealer on behalf of a new client as I sit here typing away.

    So far for the month of January three different examples have found three new homes which is not bad considering we started the month with six.

    By the way... just like Arizona, no one panicked or was in a panic at Cavallino. I did quite a bit of checking and enquiring but no one there was interested in selling me much of anything. There were however some seriously nice machines being enjoyed by some very motivated and enthusiastic owners. Next up is the Palm Springs Concours and Rally later in February. Should be fun!

    Cheers,

    Bill
     
  17. BigTex

    BigTex Seven Time F1 World Champ
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    Dec 6, 2002
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    #42 BigTex, Jan 27, 2009
    Last edited: Jan 27, 2009
    There was one just last month on the West Coast he was looking for $38K but it was a honest example, IMO....IIRC he kept it.....did not sell on eBay....my Outlook software has crashed I'll see if I can retrieve contact info...
     
  18. billnoon

    billnoon Formula 3
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    Aug 22, 2003
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    Bill Noon
    Many thanks,

    One of my very first personal Ferraris was a mid-production Euro car in White with Red and Black interior. While not everyone's favorite colors, the car was a real dry-sump, 255bhp example and in rather nice original condition.

    I sold it just prior to my last deep-draft, ocean-voyage on the Bridgeton. It went to Nagoya, Japan and I am back in touch with the son of the man who bought it from me.

    I am hopeful I can make a deal and work out its return back to my own stable. Many thanks for the leads on those here in the States.

    Cheers,

    Bill
     
  19. Zarathustra

    Zarathustra Formula Junior
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    #44 Zarathustra, Jan 27, 2009
    Last edited by a moderator: Sep 7, 2017
  20. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
    12,143
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    Onno
    :) Great pic, Gary!

    Malcolm, great to hear you're using it for what it was intended. I'm really looking forward to taking my BB across Europe in May. It'll be the first time she's had a long trip since at least 1988...


    Onno
     
  21. billnoon

    billnoon Formula 3
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    Aug 22, 2003
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    Bill Noon
    Hi Gary,

    Brisk... yes... profitable... not always so. We took a few lumps but the adjustment and necessary movement of machines was needed.

    Good or bad market, our business relies hardly on individual sales but the hope and promise of repeat business and referrals as such.

    Cheers,

    Bill
     
  22. malcolmb

    malcolmb Formula 3
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    Apr 17, 2002
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    Malcolm Barksdale
    Gary: When I get the daytona up to 150MPH or so I start thinking about those 35 year old A-arms...but I have had it up to 160 on a private track. I have the R&T photo on my office wall, I recall seeing it at the time.
    I will be in Italy with the 275 in May and the early part of June, meet you for espresso?
    Malcolm
     
  23. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
    12,143
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    Onno
    Hi Malcom, was your question directed at me? If so, PM me with some details and we'll see if there's any overlap. Always keen to meet vintage enthousiasts!

    Onno
     
  24. Zarathustra

    Zarathustra Formula Junior
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    May 7, 2006
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    Gary Robinson
    Malcolm,
    Over 130 mph not only must one increase the tire pressures in those XWX's but one must wonder exactly how old they really are.
    To me, maintaining a good, new set of XWX's on a Daytona is the built in speed limiter.
    Thanks for the invite, but May and June is the height of windsurfing season here in Hood River, Oregon.
     
  25. Zarathustra

    Zarathustra Formula Junior
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    May 7, 2006
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    Gary Robinson
    Hey Bill,
    I imagine that business people who play in the under $1 million vintage Ferrrari market are being hardest hit in this economic downturn.
    And the worse things get, more and more enthusiasts will get sucked into liquidating a few non-essential assets to keep Junior in Princeton.
    Since I started this thread by noticing a couple of your Daytonas, and hence your take on the current Daytona market,
    I wonder what your feelings are on the under $1 million vintage Ferrari market in general?
    That is, if nice Daytonas might move at $275K to $285K in today's market, what do you feel about similar:
    330 GTCs, Lussos, 275 GTBs and the like today?

    Not that Ebay is any measuring stick, but it appears that 330GTCs won't move at $150K and 275GTBs won't move at $700K.
     

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