It's Hard to find a Good Vintage Ferrari | FerrariChat

It's Hard to find a Good Vintage Ferrari

Discussion in 'Vintage (thru 365 GTC4)' started by gsjohnson, May 8, 2008.

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  1. gsjohnson

    gsjohnson Formula 3

    Feb 25, 2008
    2,291
    Woodland Hills, CA
    Full Name:
    GS Johnson
    So far, I have inspected eight Ferrari's for purchase. That doesn't count another 7 cross country inquiries and picture exchanges by email, or the ebay cars. I've look at five 365 GTC4s and three 330 GTs and most of them of been junk in my eyes. And these guys want all the money. I also understand now, why these cars have been on the market for quite a while. Two of the cars were very nice, but I didn't want red on a 330 and the other, a C4 was priced at $150k, out of my price range. Surely there must be a decent car with good quality cosmetics that is at least a driver status car for fair money? I'm staying the course, but it is getting a bit frustrating. I have an appointment to look at another private party 330 GT on Saturday morning. While I am in the area, I am also going to stop at Ferrari of Newport Beach and check out the 330 GT they have up for sale. I'd pay a little extra for the right car at this point. I think the good cars at fair market value are selling right away and are trading privately without advertising them. I hoping the one on Saturday is the right car. It is not advertised and I found out about the car by inquiring about a PPI at local Ferrari shop near me. Some these guys are very proud of their junk. Of course, maybe I have set my expectations too high. I guess only time will tell. Staying the course...
     
  2. andric

    andric Formula Junior

    Feb 26, 2008
    462
    Just hang in there and don't settle, it will all be worth it soon.
     
  3. synchro

    synchro F1 Veteran

    Feb 14, 2005
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    Scott
    If you think that is bad, look what the Dino guys are pitching at on eBay
    http://www.ferrarichat.com/forum/showthread.php?p=137692671
     
  4. michael bayer

    michael bayer Formula 3

    Aug 4, 2004
    1,292
    Getting a good Vintage Ferrari is like preparing a good meal, its 90% shopping, the most critical decisions are the nos. M
     
  5. jsa330

    jsa330 F1 Veteran
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    Oct 31, 2003
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    Scott
    Time from decision to go for a 330 2+2 or 250 GTE to actual purchase of a 330 2+2: one year.

    I diligently "chased" probably twenty cars in that period, was very serious about two or three before the actual purchase.

    Got lucky on my 308, but luck happens when you know what you're looking for: I'd done my homework and had 5 1/2 years Ferrari experience behind me, so when it came up on the dealer's website, I jumped and am very happy with it.
     
  6. alberto

    alberto Formula 3

    Aug 25, 2001
    2,401
    San Diego
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    Alberto
    Be patient. This kind of thing takes time. It is not unusual to spend a year and drive a bunch of cars until you find the right one. The worst thing you can do is get impatient and buy something just to get it over with. You'll hate yourself in the morning if you do that.

    Alberto
     
  7. Vintage V12

    Vintage V12 Formula 3

    Aug 11, 2004
    1,444
    What is your budget and what model are you looking for? Have you thought about holding off and going to Monterey in August to some of the shows? That way you can look at many different cars and talk with the owners. Maybe even find a good car for sale. Don't rush and end up with a roach of a car. Learn as much as you can about each model and what it costs to do repairs.
     
  8. PSk

    PSk F1 World Champ

    Nov 20, 2002
    17,673
    Tauranga, NZ
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    Pete
    Enzo was proud too when he sold the junk in the first place ;)

    Seriously, I hope you are not expecting old Ferraris to be well made cars, they were made no better than a period equivalent FIAT or Alfa Romeo other than extra cylinders and trim. It is difficult now I imagine when looking at an original car versus an over restored one ... the restored one many times better than when it left Ferrari.

    Good luck.
    Pete
     
  9. The Red Baron

    The Red Baron Formula 3

    Jan 3, 2005
    1,110
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    Warren
    Maybe there should be a redesignation of the Ferrari "vintage" label. However there are some very nice pre 1963 cars available. Albeit a little on the more expensive side. Why dont you look in this area. All the best.
     
  10. synchro

    synchro F1 Veteran

    Feb 14, 2005
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    Excellent advice.
    While there, ask other owners if they know of one for sale; many of these guys are in tune with that model's community and might be some of the first that are aware of cars for sale and familiar with their condition.
     
  11. Texas Forever

    Texas Forever Seven Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    76,203
    Texas!
    Define "good." No, seriously. If you are trying to buy a #2 car for a #3 price, you're gonna have a tough row to hoe. Almost all the #2 or better cars are now in the hands of end users who don't intend on selling, except for maybe a #1 price.

    So you have a choice, you can (1) pay up (and maybe over market) for a good car, or (2) buy down and make your local restoration shop a happy camper.

    Dale
     
  12. gsjohnson

    gsjohnson Formula 3

    Feb 25, 2008
    2,291
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    GS Johnson
    A little background: My budget is around $125K. I have been reading everything Ferrari that I can get my hands for over a year now. I have been to Monterey the last 4 out of 5 years, but this year I will be going to the Sears Point (I guess they call it Infineon now) Historics at the end of the month. I have been to several Ferrari gatherings here locally and have networked extensively. I'm a car guy thru and thru. I raced cars professionally, I have restored gold card Shelbys and Fords, I built my own engines, I built my own race cars, I have always had 2 or 3 projects going at a time, and I have worked in the automotive industry all of my life. I was the same guy who restored Parnelli Jones' Boss 302 that was on the cover of Mustang Monthly. Cars have been my life. With all of that said, I am not foolish enough to think that makes me an expert on Ferraris. Oh, I also looked at a Dino project, but I'm getting too old to take on another project as I still have 2 others sitting in my garages. I want a nice driver. I have seriously been looking at F-cars for over 3 months now in every spare moment that I have. I worked for an Italian car dealer that sold Ferraris, Alfas, Fiats and Lancias for several years in the early 70s. I raced an SCCA B Sedan Fiat 124 Sport Coupe in the early 70s and Fiat paid me to do so. It was in a sea of 510s and Bimmers, etc. The fit and finish on Fiats and Alfas was way better than on Ferraris back then and I'm sure that translates into todays appearances of what are now vintage cars. We constantly had customers complaining about the fit and finish on Dinos. Hell, the welds almost looked unpenetrating in nature on the chassis. Interestingly enough when I was calling some Ferrari repair shops to get a feel for the cost of a PPI and to see how I would be treated, one owner of one of the shops gave me a very good lead on a 330 GT that is available. I'm have an appointment to view that car tomorrow morning. So, wish me luck...
     
  13. UroTrash

    UroTrash Three Time F1 World Champ
    Consultant Owner

    Jan 20, 2004
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    It is hard to find a good vintage Ferrari.

    Don't flinch and buy a bad car; you will regret that at your leisure.
     
  14. Texas Forever

    Texas Forever Seven Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    76,203
    Texas!
    Again, define "good." If the budget is $125k, this would probably get a #2 2+2 car in today's market (I think) or maybe a #2 Dino. But I doubt that you could even find a beater GTC/Daytona for that price.

    However, if you have the skills to do your own work, I wouldn't hesitate to buy a project. Despite everything that Sheehan says, the big V12 cars are not that hard to work on, particularly when compared to a modern car. As long as the frame and body work are straight, you should turn out okay. The problem, of course, is parts. But, at the end of the day, they are just cars.

    The other thing that I would suggest keeping in mind is the motivation for a vintage car. If you enjoy driving, it is hard to beat a Maranello for, say, $90k. But as you probably know, owning a vintage car means "X" amount of fiddling and diddling. After all, you are talking about 40 year old cars.

    Dale
     
  15. coachi

    coachi Formula 3

    May 1, 2002
    2,108
    SC USA
  16. Mrpbody44

    Mrpbody44 F1 Veteran

    Jul 5, 2007
    7,899
    St Augustine Florida
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    Steve Metz
    Most of the good cars in your range are sold to friends word of mouth. Cars with know issues ect are sold via auction. Get to know some folks and go to informal and club events. Learn the secret handshake and you will find a car.
     
  17. gsjohnson

    gsjohnson Formula 3

    Feb 25, 2008
    2,291
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    GS Johnson
    You can buy a very nice 330 GT 2+2 for 125K. I found a Series II single headlight car for 110K, but I couldn't stomach the red. That car was damn near perfect. Like I stated previously, I'm looking for a driver with nice cosmetics and the Red 330 far exceeded my expectation, but red. Admitedly, the C4 maybe a stretch in my price range, but I'm still looking at them because I may find one, as I my number is not that far off.
     
  18. gsjohnson

    gsjohnson Formula 3

    Feb 25, 2008
    2,291
    Woodland Hills, CA
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    GS Johnson
    I have an appointment at the end of the month when I am at the Sears Point (Infineon) Historic races to view this car. I have spoken to them extensively about this car. One issue about this car is the right rear frame rail has an extensive amount of rust. It is advertised as a California car all of its' life? It is also advertised as a two owner car, but if you follow the paper trail on this car, it has actually had 4 owners. The second owner did own the car for over 25 years. Fantasy Junction has also owned this car and has sold it on 3 different occasions thru the years. I also couldn't get a straight answer about why the 2 engine overhauls in less than 4000 miles. They are lazy about responding to emails and are vague in their answers when I do get a response. I never did get an answer as to why this car has the wrong mirrors installed on it causing additional holes on both doors. I don't want a car with stories, but I do plan to visit this car in person in 3 weeks.
     
  19. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
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    Bill Tracy
    I would think you can find a decent C4 in your price range. I was thinking of diving into the vintage Ferrari market at the end of last year. I decided to wait until the Cavallino week had passed so I could see all the various cars and talk to some owners about their experiences. In the end I found that my heart was not willing to go "All in" for a vintage Ferrari and am happy with this decision now. I really like the lines and relative simplicity of the vintage cars, but for now it is simply not worth the price of admission to get a car that I would enjoy.
    Good luck in your search. There is a basic Series I 330 (#5263) available asking $58,500 at www.motorcargallery.com . Buy it and pay $15k for a new color and some bodywork and you could be ahead price wise.
    BT
     
  20. jsa330

    jsa330 F1 Veteran
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    Oct 31, 2003
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    I was expecting what you've described when my 1964 330 2+2 Series I arrived here in March 2003: a rather shoddily made car around this awesome V12 engine. At that time, I'd had literally no hands-on experience with Ferrari cars. Had seen plenty over the years, but nary a drive or ride.

    s/n 5409 was bought sight unseen, through a lead provided by another member here/on Tom Yang's board, numerous emailed pics and conversations with the owner, history info from the 330 Registry, and a PPI by a very reputable CA shop.

    Big surprise when it got to Dallas. The thing was built like a tank...heavy duty top-to-bottom, and materials and finish quality standards that are long-ago history. I know, I took it apart and put it back together twice.

    Other 1960's and early 1970's era vintage Ferraris that I've since seen in person, at shows and in various stages of disassembly at Norwood Performance, confirm that my particular 330 wasn't a fluke of the production line!

    The realities, discussed many times but bearing repeating:

    -Apparently body and chassis rustproofing wasn't a standard with Ferrari in those days, and over 35 to 45 years many cars have suffered rust damage ranging from the minor to the very extensive.

    My 330 had been garaged in CA through the first three owners, and showed showed little outward sign of rust save some minor surface corrosion, which I attributed to the ambient salty air of the Bay area. However, it had been resprayed twice, and I suspect there were a couple of body panels that would have needed $$$ attention once it was down to the metal for the planned total repaint.

    -Up until twenty to twenty-five years ago V12 2+2 production Ferraris, as well as two-seater V12 production models, were the orphan children...used-up and outdated old sports and GT cars which had been supplanted in the popular imagination by the 308/328, TR, F40, 288 GTO, etc.

    On top of rust, these cars often went through numerous owners and had/have very large backlogs of "deferred maintenance" issues, shoddy repairs, and many missing parts...especially tool/jack kits as well as service records and manuals. In addition, many cars simply sat (sit) unused for many years in the garage of an elderly or indifferent owner, and got (get) hauled out upon the owner's death, or the living owner realizes that he can get 10x to 25x the $3K to $5K paid for the car in the early 70's (10x--$32K--in the case with my 330, but that was five years ago).
     
  21. gsjohnson

    gsjohnson Formula 3

    Feb 25, 2008
    2,291
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    GS Johnson
    I looked at that car, but I really don't want a Series I 330. The transmissions are weak and are only a 4 speed with overdrive. They are more prone to rust and lack the desireable single headlight design. These are the reasons that Series I 330s are less money. But, thank you for the lead.
     
  22. kare

    kare F1 Rookie
    Consultant

    Nov 11, 2003
    3,634
    If you think so lowly of series 1, you can forget the later ones as well. Best wishes, Kare
     
  23. gsjohnson

    gsjohnson Formula 3

    Feb 25, 2008
    2,291
    Woodland Hills, CA
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    GS Johnson

    It's not that I think lowly of the Series I cars, I was simply pointing out some "Facts" that make them less desireable and the reasons that they sell for less money. It wasn't meant as a slam on the car. As a matter a fact I looked at a very nice one, that I gave a lot of consideration to.
     
  24. El Wayne

    El Wayne F1 World Champ
    Staff Member Lifetime Rossa Owner

    Aug 1, 2002
    18,043
    San Marino, CA
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    L. Wayne Ausbrooks
    A bit harsh, don't you think? If the man is going to spend in excess of $100K on an automobile, surely he's entitled to pursue the model of his choice - regardless of what you or I might think of the reasoning behind that choice.
     
  25. ArtS

    ArtS F1 Veteran
    Owner Silver Subscribed

    Nov 11, 2003
    9,019
    Central NJ
    Wayne,

    You may want to remind some of the posters in this thread with your experiences with your car: seach; aquisition; early ownership experiences; and your overall impression of your ownership experience - I think it would make a very good reality check regarding peoples expectations.

    Regards,

    Art S.

    PS. what it your avitar?
     

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