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How do you establish the value of a Ferrari?

Discussion in 'Ferrari Discussion (not model specific)' started by tifosi12, Nov 5, 2003.

  1. tifosi12

    tifosi12 Four Time F1 World Champ
    Owner Lifetime Rossa

    Oct 3, 2002
    44,776
    @ the wheel
    Full Name:
    Andreas
    Not as a collector, but for more practical things like e.g. a bank loan or insurance coverage. For regular cars there is the blue book, but what do you use for Ferraris?

    There is the Ferrari Market Letter, but is that official enough for one of the above mentioned institutions? Would they even know/accept it? Do you have to first sign up for it to get a copy?
     
  2. Ken

    Ken F1 World Champ

    Oct 19, 2001
    16,078
    Arlington Heights IL
    Full Name:
    Kenneth
    Look at the 'ask' prices of similar cars, and insure it for 10% more than that. That's easier for newer cars like a 308 or 355...if you have a Daytona it's not so cut and dried huh. Maybe FML plus 20% then. I'd rather pay a few bucks more and be sure I got replacement.
     
  3. parkerfe

    parkerfe F1 World Champ

    Sep 4, 2001
    12,887
    Cumming, Georgia
    Full Name:
    Franklin E. Parker
    Ferraris are valued in several publications including the Black Book CPI(Cars of Particular Value) which you can subscribe to at www.BlackBookUSA.com or 800.554.1026 . I have subscribed for years and it is accepted by the financial and insurance industry.
     
  4. tifosi12

    tifosi12 Four Time F1 World Champ
    Owner Lifetime Rossa

    Oct 3, 2002
    44,776
    @ the wheel
    Full Name:
    Andreas
    Thanks Frank, that's the kind of information I'm looking for.

    Ken, I know how to establish the market value. That part is easy. But try to convince an official institution like a bank or insurance company of it. THAT's the problem and why I'm asking for something more official.
     
  5. Ron328

    Ron328 Formula 3
    Silver Subscribed

    Mar 10, 2003
    2,478
    Oregon
    Full Name:
    Ron
    You can check www.nadaguides.com. Click on the "used car guide." It's free but limits you to 10 cars/day...not bad.
     
  6. F SPIDER

    F SPIDER F1 Rookie
    Owner

    Jan 30, 2002
    2,873
    NYC, A'dam, W'stock
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    rijk rietveld
    I just changed insurance on the Daytona. Statefarm came by and made pictures and a report and set the "agreed value" at 126K. It is a little less than I paid for it, but I can live with it.

    Rijk
     
  7. Dale

    Dale F1 Veteran

    Oct 7, 2003
    5,211
    uk
    Full Name:
    Dale Juan
    Well chaps id do the only thing i know,drive it in the workshop,
    listen to how many cylinders its runing on check out the normal top components on the german,brit,itaian,american,jap,french,who ever constructs it,then send it up on the ramp and rip it to bits,its simple,
    then offer them 10p for it, service history is very important on a ferrari
    but i do think there are items which they could improve on-lubrication one thinks
    regards
    Dale.
     

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