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Hemmings Motor News 1989:please

Discussion in 'Ferrari Discussion (not model specific)' started by msdesignltd, May 31, 2004.

  1. msdesignltd

    msdesignltd F1 World Champ
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    Nov 17, 2003
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    For Nostolgias sake, Does anyone have a copy of Hemmings motor news Classified ads for Ferrari that they could scan and post from 1989, Would love to Reminice,if only for a minute.No matter what Ferrari you bought,it was worth more 2 months later! Those were the Good old Days.

    A reprint from FML might be nice Too!
     
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  3. mustgofaster

    mustgofaster Karting

    Mar 27, 2004
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    Mark
    My Dad has everyone of these going back forever. I will try to get a copy for you.
     
  4. 134282

    134282 Four Time F1 World Champ
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    Ok, so i'm only too happy to poke around in the FML archives when questions like this come up... Looking at this stuff is just unreal, too...

    Check it out...

    In 1985, the highest recorded asking price for a 275 GTB/4 was 85k...
    In 1986, the highest recorded asking price was more than double at 185k...
    1987...? 325k...
    '88...? Eight hundred and fifty THOUSAND dollars...!
    Wait. It gets better.
    1989. The boom. The biggest year. The highest recorded asking price for a 275 GTB/4 was $1,500,000... In 1990, it dropped down to $1,375,000 and continued its decline from there...

    Daytonas were pretty much the same way. They actually depreciated in the early 80's, dropping from 85k in 1981 to 69k in 1982. By 1984, they were back up to 85k; 1985: $90,000... It only went up from there
    1986: 110,000
    1987: 225,000
    1988: 400,000
    1989: 750,000
    By '89, the highest recorded asking price for a Daytona Spyder was TWO MILLION DOLLARS.

    Strangely enough, the 365 & 512 Boxers were of the very few Ferraris whose value increased going into 1990. The 365 went from 399,500 to 400,000 and the 512 went from 400,000 to 425,000... The 250 GT Lusso, 275 GTB, 330 GT 2+2, 365 GTC/4 & 400 also made a slight increase. The 250 GT PF Coupe, 330 GTC, 250 GTE 2+2 held at their highest asking prices from 1989 to 1990...

    This information was collected from The January 5th issue, 1991 Volume 16, Issue 1... It was compiled there from data collected during the previous years of the boom...

    Thumbing through the June 24th, 1989 issue, Volume 14, Issue 13, some of the classified ads look like this:

    250 GT Pininfarina Cabriolet Series I, s/n 0979 (1958).
    New red paint with black interior. Our shop doing an engine and transmission rebuild. Interesting history.
    $725,000

    There's another ad right below that, for the same model car, s/n 1193, on sale for $800,000.

    A 250 GT LWB Spyder California for $1,600,000.
    A 250 GT SWB Berlinetta for $1,600,000.
    A 400 Superamerica for $850,000.
    An '88 red/tan Testarossa for $218,000
    An '83 red/black BBi for $350,000
    A Dino 246 GTS for $210,000
    A 1976 'glass 308 GTB, s/n 19425: $150,000

    i hope the market doesn't get this bad when i'm in it, looking for my first Ferrari... :)

    This information has been provided by The Ferrari Market Letter
     
  5. Meister

    Meister F1 Veteran
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    Apr 27, 2001
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    I don't know if they would go back that far but a decent public library might have it in their back issues file. When I went to college (grad in 93) they had issues of road and track back to like 1980. A lot of that stuff has been put onto microfilm by now though.
     
  6. msdesignltd

    msdesignltd F1 World Champ
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    A 250 GT LWB Spyder California for $1,600,000.
    A 250 GT SWB Berlinetta for $1,600,000.
    A 400 Superamerica for $850,000.
    An '88 red/tan Testarossa for $218,000
    An '83 red/black BBi for $350,000
    A Dino 246 GTS for $210,000
    A 1976 'glass 308 GTB, s/n 19425: $150,000

    Truly a market out of control, Imagine the guy who paid 200+ for an 88 TR.
    Talk about money evaporating!
    I think that red/ black boxer was mine, I sold mine in89 for over $200,000.bought it 9 months earlier for 110.000.

    AHH! reminicing
     
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  8. coachi

    coachi Formula 3

    May 1, 2002
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    I turned down 500,000 for one of my daytonas, then 450,000 for the other. I also turned down 275,000for my BBi boxer, and 200,000 for my testarossa. Of course, the reason was not greed, the reason was I fell in love with the cars;and I still have them...have spent much more money keeping them fit, and dont regret not selling. The IRS would have gotten 50% of the profits...and those days will never be back either.
     
  9. judge4re

    judge4re F1 World Champ

    Apr 26, 2003
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    I've never found a document to back it up, but I was told my 365 GT4 2+2 (which the Sportscar Market Letter says is the only "F" grade Ferrari) sold for $106k in 1990.
     
  10. 134282

    134282 Four Time F1 World Champ
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    The highest asking price we have on record for a 365 GT4 2+2 in 1990 is $169,000...

    People paid these ridiculous prices 'cause they had no idea the bubble was gonna burst... Few people sold before the bubble burst and they're happy about it...
     
  11. rob lay

    rob lay Administrator
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    Dec 1, 2000
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    Congrats, it says alot that you held on to the cars this long through everything. <bowing>
     
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