F355 Market | Page 455 | FerrariChat

F355 Market

Discussion in '348/355' started by Robb, May 19, 2015.

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  1. INTMD8

    INTMD8 F1 Veteran
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    Agreed but what I wonder is why? Vin is on the chassis.

    Would there at one time have been a benefit to changing the production date? (only reason I can see to remove the vin tag matching the chassis)
     
  2. ShineKen

    ShineKen F1 World Champ
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    I’ll take a stab at it :).


    In the late 90’s, someone must’ve figured it was worthwhile to import this Japanese spec F355 Spider due to its rare white color. It’s practically a brand new car with only 50-ish miles imported on 4/26/2000 according to the Carfax.

    https://www.carfax.com/VehicleHistory/p/Report.cfx?partner=BTR_0&vin=ZFFXR48JPN0107021&source=BUP


    My research shows on that date an NHTSA petition for Ferrari 355’s was only available for 1995 F355’s. Docket No. NHTSA–98–3823. A petition for 96-98 355’s didn’t come until Aug 2000.

    https://www.govinfo.gov/content/pkg/FR-1998-05-18/pdf/98-13074.pdf

    “J.K. Motors of Kingsville, Maryland (‘‘J.K.’’) (Registered Importer 90–006) has petitioned NHTSA to decide whether 1995 Ferrari F355 passenger cars are eligible for importation into the United States. The vehicle which J.K. believes is substantially similar is the 1995 Ferrari F355 that was manufactured for importation into, and sale in, the United States and certified by its manufacturer as conforming to all applicable Federal motor vehicle safety standards.”


    This petition was most likely approved in 1998.



    Since the car is a 1997 car, someone must’ve reached out to GK Auto in Los Angeles and asked, “What can we do to federalize this car?” GK auto most likely replied, “For X amount of $$$, we’ll turn it into a 95 car, pay someone at the DMV under the table, and no one will ever know (except for some random guy who goes by ShineKen on Ferrarichat 23 years later.)”



    The petitions detail what changes need to be made to the car. Here is the petition for 96-98 355’s. Docket No. NHTSA–2000–7897

    https://www.govinfo.gov/content/pkg/FR-2000-09-13/pdf/00-23469.pdf




    As we all know, there are a ton of differences between a 2.7 and a 5.2. I’m not sure if GK Auto knew that at the time or they simply wanted to experiment at their customer’s expense. According to Carfax, when the title was first issued in 2003, the car was deemed, “Not built to U.S standards.” Not exactly sure what that implies.


    I’m going to assume a lot of effort was spent changing the car to 1995 federalization specs, but could not fully pass because the engine/obd setup was simply too different. So by the time the 96-98 petition was approved, too much time, effort, and $ was already spent they probably figured it was best to muddy the cars history and sell it to someone outside of CA.


    The car’s odometer gauge has been converted to MPH and “exempt from odometer reporting.”


    More references:

    https://www.nhtsa.gov/sites/nhtsa.gov/files/elig120115.pdf




    This car has all kinds botched stuff going on and ya’ll worried about the color of the dash. SMFH.





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  3. johnk...

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    #11353 johnk..., Mar 19, 2023
    Last edited: Mar 19, 2023
    Well, 56 miles on the switched speedo. TMU!

    Wonder if the owner know this stuff. :rolleyes:
     
  4. Zamboniman308

    Zamboniman308 Formula Junior

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    Agree probably all or most of it centeres around importation. That said this one is carrying baggage. If only she could talk.
     
  5. ShineKen

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    I was wondering about that. The conversion would have been done here though, not prior to arriving from Japan.
     
  6. ShineKen

    ShineKen F1 World Champ
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  7. phrogs

    phrogs F1 Veteran
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    Switched As in Required by DOT at the time of importing, your issue is you don't know what the KM were before it came over and honestly what would convince you a photo? a report to carfax? DOT paperwork may show it but we all know how precise everyone is especially government agency's when reporting mileage like no one ever has "mileage Issues" on carfax because some clown at a smog station or the DMV ever ****ed that up am I right??
     
  8. ShineKen

    ShineKen F1 World Champ
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    I’m curious now. Why is there a separate petition for 1999 355’s?? I don’t know them to be different from 98 cars outside of options. Different safety and emissions features?
     
  9. johnk...

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    So technically the car was illegally imported?

    Exactly. The CoC says 23 (or is that 33) miles. What's that, how far they drove it to the inspection station? It probably had more miles (KM) than that when it left Ferrari, I suspect. And now some DOT guy is going to read this stuff on FChat and confiscate the car. :rolleyes::D
     
  10. ShineKen

    ShineKen F1 World Champ
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    Oops :eek:
     
  11. ShineKen

    ShineKen F1 World Champ
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    Brings back memories from decades ago when I was briefly consulted by the owners of Motorex to federalize Nissan Skyline GTR’s in the early 2000’s. They were trying to figure ways to get certain things DOT approved since these cars were never built for the USDM market.


    Hints of the story here:

    https://www.hotcars.com/the-wild-tale-behind-r33-skyline-gt-r-importer-motorex-and-what-went-wrong/

    “Today, if you try to import a Nissan Skyline from Japan that is not 25 years old, isn’t complying, or isn’t a former MotoRex car, the Feds are going to come after you. You’ll face hefty fines, and on top of that, your new import will get impounded and probably get crushed!”


    “Here’s where MotoRex came in. They found a way of getting JDMs into the states. They started with the R34 GTRs, which had been newly released in 1999. According to Craig, MotoRex federalized the cars with all the requirements, including airbags, crash tests, emissions, and other certifications to pass NHTSA inspection. G&K Auto Conversions was the company that did the certificates of the cars.

    “They were having good business, and they were starting to legalize some cars, and they went through a total of 14 to 16; it’s a little fuzzy there,” Craig revealed.”

    “I know everybody is saying, I see R34s at every car meet, there are hundreds of them floating around, it’s contraband okay?” he warned. “Just because you can get plates on it from Montana, or Florida, or Texas, or Nevada, or Washington, or Oregon, doesn’t make it legal. It’s still cocaine as far as the Federal Government is concerned.” He added.”



    Motorex actually crash tested GTR’s. I believe 2 of each (R34,R33,R32). After MotoRex went down, I believe others have tried to federalize the GTR’s, but weren’t doing it legitimately/correctly for whatever reason (might have to do with not crash testing) and those non-Motorex GTRs in CA ended up being confiscated and crushed. Only the original 14-16 cars federalized under Motorex appear to be legal in CA, hence worth a significant premium. Paul Walker’s R34 GT-R is one of them, which is why at the time it was a big deal to see an R34 on U.S land in a Fast and Furious movie (F&F 2 I believe).
     
  12. johnk...

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    For those who may not know the GTR,

     
  13. ShineKen

    ShineKen F1 World Champ
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    Wrong GTR though :). I’m referring to JDM market ones, which preceded the R35.

    Here’s an interesting back story:

    https://fastandfuriousfacts.com/why-skylines-are-illegal-in-the-u-s-a-the-motorex-scandal/

    “To bring Skylines to U.S. standards, Motorex had to complete a series of crash tests for front, rear and side impact. The company outsourced the logistics of crash testing and assembling the conformity certification package that would be sent to the D.O.T. for approval to J.K. Technologies in Baltimore, Maryland, a registered importer with a long history of legalizing European sports cars for the States. After successfully passing front and rear crash tests, the car failed the side-impact crash test. Adjustments were made to lower the Skyline’s door bar. (This and other confidential modifications would have to be made on every Skyline that entered the country.) In late 1999, the same Skyline was retested and passed. Motorex received E.P.A. approval by installing three additional catalytic converters to each Skyline. “After an E.P.A., the IM240 check is easy,” said Sean Morris, referring to California’s smog test. Morris, who joined MotoRex just prior to side-impact crash tests, was in charge of the compliance modifications. “The first bond release we got was November 15, 1999,” Morris said. “I remember the chassis number of the car. It’s pretty significant.”


    “The process was also inherently slow. Once a car arrived at Motorex, it would need to be modified to comply with U.S. standards. The car had to be shipped to an outside emissions lab for E.P.A. testing – Motorex used G&K Automotive Conversion in Santa Ana, California, and Graycar Consultancy in Oxnard, California – where the car could be stuck for months. Motorex didn’t keep a tight watch on the cars, and it wouldn’t be unusual for the staff to lose track of inventory.

    Once the modifications and testing were complete, a package containing all of the results, with photographic documentation of the process, had to be compiled and sent to the D.O.T., [NHTSA OMVC] which would then sift through the package. If it all complied with the original Motorex agreement, the D.O.T. would send back a bondrelease, which, in effect, legalized the car.
    “It’s a weird document,” says Morris. “It doesn’t really say that the car is legal; it says ‘we’re releasing the liability of the bond.’ That’s all it says. And that piece of paper kind of freaks some DMVs and some other people out, because it doesn’t actually say that this car’s legal. It says we haven’t looked at it, but based on what we’ve seen, it looks like it’s OK.” There was a level of trust involved, which began to erode before long.”
     
  14. ShineKen

    ShineKen F1 World Champ
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    So yes, I would be weary of any 355 “federalized” before the 25 year rule, particularly in CA. Imo, someone back then at the DMV or Smog inspection got paid under the table to overlook this 355. I wouldn’t try to bring this car back to CA.
     
  15. ShineKen

    ShineKen F1 World Champ
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    https://insider.hagerty.com/trends/a-tsunami-of-gt-rs-is-heading-for-monterey/

    “A car that needs little introduction, the R34 GT-R is easily one of the most desirable cars among younger enthusiasts. Decades of racing virtual R34s in Gran Turismo and watching Paul Walker driving one in 2Fast 2Furious recruited legions of American fans who wanted nothing more than to park one in their garage. Most still have to be patient, as the R34 still falls just short of the 25 year import rule on cars not produced for the US market. Yet, Mecum’s set to auction a 2001 R34 GT-R ready for U.S consumption. How is this legal? Well, long before before select R34s qualified for the exclusive Show or Display exemption list, there was MotoRex.

    This now-defunct company in the late 1990s and early 2000s specialized in importing Skylines to the U.S with full street legality. Independent crash testing met NHTSA requirements, and cars landing in the U.S were updated to meet U.S safety and emissions standards and, unlike Show or Display, these cars had no usage restrictions. In a turn of events worthy of a book or movie, MotoRex was shut down following a series of financial problems that spiraled out of control. NHTSA revoked the approved import status of the Skyline but luckily for owners who already went through the process, they were allowed to keep their street-legal GT-Rs. When the dust settled, it’s estimated that 14 of the cars imported by MotoRex were R34s—including Mecum’s GT-R.”

    “For old-school JDM scene people, a shot at buying this car at auction is a once-in-a-lifetime opportunity. We estimate that a standard MotoRex R34 GT-R will set you back anywhere from $200,000 – $700,000, but Mecum estimates the extra provenance of this iconic car elevates it to the $750,000 – $850,000 range. If this turns out to be the case, it would easily make it the most expensive GT-R ever sold at auction.”
     
  16. ff2kracer

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  17. carnutdallas

    carnutdallas Formula 3
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    Wow Ken! Damn fine work on the white spider. Figures the car has a sketchy back story. Probably see a lot more of these in coming months.


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  18. ShineKen

    ShineKen F1 World Champ
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    Looking over it, you are correct. Carfax shows 56 miles after the CoC date of 7/13/2000. That’s 56 mi on a new MPH odometer. TMU!



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  19. ShineKen

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    This car could have federalized correctly without botching up the car if it weren’t for timing. What a shame for such a rare 355 color/spec.
     
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  20. Senshi458

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    The condition under the car is very bad a lot of rust + manifolds are not correct I seen som old photo from this car. Will need a lot TLC
     
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  21. JohnnyTT

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    #11371 JohnnyTT, Mar 20, 2023
    Last edited: Mar 20, 2023
    As I see more euro cars pop up. My question is… if we had identical cars euro vs US, what’s the price difference and why?

    I’m a fan of the small visual differences.

    Any challenges associated on a registration basis or anything else?

    thanks,
     
  22. Matt Andrews

    Matt Andrews Formula Junior

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    The R34 saga could be its own movie. A federally approved R34 GTR holds a huge premium. Only the Motorex and then handful of show and display cars fit this description. All the others coming in under state titles to your point, are at risk of confiscation. People have done all sorts of crazy things to get them into the country. One company was seperating the drive train from the chassis, stamping the chassis as a "kit car", importing the drive train seperately, and then "building the kit" with its original drivetrain. Owner of the company was a CA state trooper. Who is now in prison. Any of these cars the gov't could find were crushed.

    Will be interesting to see what happens to the values once they are finally 25 yrs old. values are on the rise with people speculating and storing the cars already...

    But its these sorts of shady stories that make me a little nervous buying a grey market ferrari, or any other car, that I didn't import myself. It can definately be done right. but there are so many shady characters in that industry, I always wonder about the history of a car that wasn't "born" here...
     
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  23. ShineKen

    ShineKen F1 World Champ
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    I actually didn't know the extent of the story outside of hearsay from people in the industry. I am only discovering the nitty gritty details of the story now from those links I found. I actually had direct interaction with Hiro and Hiroki on a few occasions and was shown the Motorex operation inside out. They even asked me to share their building space with them. Thank god I didn't. Was too small :). Heck, I've even been to the hostess bar :). It's called, "Tee Up" at the Bonaventure Hotel in DTLA. and believe it or not, it's still there. Open to the public and frequented by guests of the hotel. Pretty unique actually in that it's a Japanese-themed hostess bar in an iconic L.A hotel. Pretty dumb of them to jump someone outside of a bar they frequented every other day. Perhaps too much Hibiki that night.

    Most people might not have ever seen Hiroki as he was the young financial backer who came into the picture later and was mostly behind the scenes. He was young and loaded. Both Hiro and Hiroki were not technical car guys or even real car guys imo and I sensed that even back then. They were in way over their heads. I presume Hiro ultimately used Hiroki for financial reasons, but I was not aware of that dynamic back then. It's just interesting to be able to read these stories and put a face to the names. Makes me feel I experienced a small part of that industry lore :).


    Having said all that.... way too much drama for an R34 imo. An F355 is a much better car inside out and faster in stock form. Not to mention better looking and sounding :).
     
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  24. ShineKen

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    49 state legal vs 50 state legal. I would say one could muddy the history of a euro car in the U.S better than a car that originated in the U.S. If I were living outside of CA, I would go for the euro car, but only after careful inspection ... preferably when it was in Europe. But then again, I know what to look for. Most new to the 355 aren't familiar enough to go through the hassle.
     
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  25. johnk...

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