is the bubble due to burst?

In my humble opinion- they only look good in Nero Black as those 'rubber duck' bumpers don't show-up so vividly. Had a Black /Tan and it's a really Great, lumbering Beauty. Car linked here says 'project car', and it certainly is.

 

That is a daunting number for a 365GTC

 

... but realistic to any 365, be it GT 2+2, BB, B/4, C/4, etc, (or similarly complex & equipped models) needing a "full restoration" .

 

… i.e. expecting everything in it to be, look and work “as new”, since to accomplish all that will require several thousand hours of labor + materials/parts/etc…

Anything less is not “full”.

 

I bought 365GTC #10581 from Luigi Chinetti in June 1978; paid $25,000. or $5,000.-6,000. over market for an 'ordinary' GTC. This car was a 330GTC with a factory-installed typ 245 4.4 liter engine that had been commanded by the Commendatore for his friend Leopoldo Pirelli, CEO of an Italian tire company, with whom I had direct personal correspondence confirming that indeed I had his old car. It was in good but well-used condition. I engaged Nereo Iori, who had been the top racing wrench for Chinetti's NART race team, to do a complete mechanical restoration of the car. EVERYTHING was apart; Iori even line-bored the crankshaft and camshafts BY HAND. I thought I was stealing from him when his total charges came to $25K - but bear in mind this is almost a half century ago. When I got my car back, driving it felt like dancing with a ballerina. Writing this, I miss her so.


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And now, “almost half a century” later that same extent/quality, i.e. properly done “complete mechanical (only) restoration” can easily cost +/- ten times what you paid back then.
Add all convenience accessories, body & paint work, bright work/trim, electrical, upholstery etc. and another $250K can easily go in to it.

 

Timo, the best Pebble Beach quality paint ship in southern California did the paint a year later, a custom View attachment 3664028 burgundy, for $8K and a close friend, Lyle Tanner, did the leather seating and Wilton carpets in return for some legal services I had provided him.

 

I believe that was the original color of my old GTC. It got painted resale red.

 

I am with Timo, no problem putting $300-500K into a FULL restoration on one of these cars today. Do you have any idea how much it costs to restore a Chrysler "Letter" car today, and they are JUST an old American car.

 

And today, that same quality paint job can also easily cost ten times what you paid back then. No surprises there. What was the hourly labor charge for that quality back then ?

 

Having done a few in past 4 decades, I do, and lets not forget, there's not a single Ferrari with equivalent amount square footage of paintable surface.
I'd be surprised if 365 GTC has 2/3, meaning any Chrysler "Letter" will require at least 1/3 more hours to accomplish same quality paint job, not to mention more accessories, options, trim (which "Letter" cars have a lot less than other Chrysler's of same era), etc...

 

EDIT:

 

Not liking these sale numbers for a 250 SWB 3169gt a matching number Ferrari classiche example selling for $5.8m and a LWB 250 Cal Spider for $5.5m. I know there’s a little bit of a story with the engine stamping on the Cal spider but even so, unless there is something I’m missing these are pretty astonishing drops from the highest valuations. I would say 50 to 75%.

 

Interesting, I wonder what year the Cal Spider that was at Toni in Modena. I remember seeing a black one there when we visited in 2017. That's a really neat family shop. I'll have to see if I can find pictures. Seems I recall a small garden and maybe chickens or a dog house and pen.


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Highest non comp lwb cal spider was high bid at 9.4m.

Highest sold was 9m.

So a good 30% drop but as you said, some stamping history..and of course different world than even 2019.. Image Unavailable, Please Login Image Unavailable, Please Login

 

High bid means nothing.

 

It means the chandelier.

Marcel Massini

 

Those valuations were pure fantasy and dreaming.
The world has changed dramatically (you know it even better than I).
Think demographics, US presidency, economy, recession (Germany!), Covid, interest rates, inflation, wars in Europe and Gaza, EU that forces people to electric cars, all the mass media nonsense, and on and on.
Lots of people with plenty of cash around but they are all sitting on their hands, basically paralyzed.
Not a good environment to sell this kind of luxury that nobody really neeeds to survive.

Marcel Massini

 

RM Sotheby's 250 GT Cabriolet Series 1 0849 GT just bid to 4.2 million Euros.

 

RM Sotheby's 250 GT/L Lusso 4267 GT just bid to 1.2 million Euros.

 

Many No Sales at RMS.

 

Anything wrong with thr lusso?

The pf cab s1 sold for 4.4m eur in 2021. That would be what in 2024 usd? 5.5m?
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Classiche Certified in 2011 does not mean it is Certified now. Non original colour?

Says matching numbers engine so probably non matching gearbox. Nothing about the body being original, so????

On the plus side Bacchelli & Villa did some work on it, albeit years ago, and a nice Luppi interior.

 

0849 has been Classiche Red Book Certified since the last auction too, and is now with the correct drum brakes. What originally happened to the engine for it to get separated for so long? Does it have a repaired cylinder block or something? I see it has a Classiche stamp on it.