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Need Advice re: Selling Paul Cloke's Ferrari

Discussion in 'California (Southern)' started by MOUSEBOSS, Aug 19, 2004.

  1. MOUSEBOSS

    MOUSEBOSS Rookie

    Jun 15, 2004
    2
    This is Maggie, Paul's former wife and the mother of his two kids. The time is fast approaching that we will need to sell Paul's Ferrari, and I am frankly clueless as to how to begin. Any thoughts/advice?

    Thanks!

    Maggie
     
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  3. Ilya

    Ilya Karting

    Jul 14, 2004
    133
    Socal
    Full Name:
    Ilya
    What kind of car is it, specs, etc etc
     
  4. Ferrari Boy

    Ferrari Boy Formula 3

    Oct 25, 2003
    1,254
    Long Beach CA
    Full Name:
    David Couch
    Paul was such a great guy. I wish something had never happened to him. RIP Paul, we all miss you. Good luck selling his 328.
     
  5. JOEV

    JOEV F1 Rookie
    Silver Subscribed

    Aug 6, 2003
    2,660
    Canada
    Full Name:
    Joe
    First, I'm truly sorry for your loss.

    You will get lots of advice here on FChat, but I would also suggest giving Michael Sheehan (http://www.ferraris-online.com/) a call. Tell him your situation and ask for his advice. He is very knowledgeable and always helpful.
     
  6. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    I hope all is well, all considering.

    You may get a bite on here just posting the ad. Try to have an idea of what you want to ask for it. There are plenty of people who will be able to give you an idea of value.

    If you don't want to deal with the actual selling part it might be an idea to get someone to sell if for you for a few bucks. Or, you could run a free ad on FerrariAds.com, too.

    Good luck with everything.
     
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  8. jordan747_400

    jordan747_400 F1 Veteran
    Lifetime Rossa

    Dec 9, 2002
    6,926
    Houston, TX
    Full Name:
    Jordan Witherspoon
    Maggie, I will second the move to post it on www.ferrariads.com. It is a very popular website and I have heard very good success stories --some people even selling after the first day if the price is right!

    Michael Sheehan deals with mostly with the vintage type cars so Im not sure he would be able to help you out with anything other than advice.

    While it could be good for advertising exposure, I would stay away from ebay if you are a first time seller. Things can get pretty confusing on ebay and usually the people browsing cars there are looking for quick, specific information. If the car doesnt sell on ebay the first time around the money can add up after continuous relistings.

    I would also try and post as much information you know about the car in both of these forums on this website:

    General Discussion section
    http://ferrarichat.com/forum/forumdisplay.php?f=3

    The section specific to the 328 era cars
    http://ferrarichat.com/forum/forumdisplay.php?f=55

    I can talk to the moderators of the website to make sure your posts dont get moved accidently and are able to get maximum exposure. There are always people on the website looking for cars.

    If you ever need any help at all, feel free to contact me.

    jordan747_400@hotmail.com
    (949)633-6394
     
  9. Chiaro_Slag

    Chiaro_Slag F1 Veteran

    Oct 31, 2003
    7,731
    CA
    Full Name:
    Jerry
    Hi Maggie-

    I sent you an email. Feel free to call me.
     
  10. ag512bbi

    ag512bbi F1 Veteran
    Rossa Subscribed Owner

    Nov 8, 2003
    6,586
    So. Cal
    Full Name:
    Armen
    I don't think that is the best thing to do?!?!?!
     
  11. Chiaro_Slag

    Chiaro_Slag F1 Veteran

    Oct 31, 2003
    7,731
    CA
    Full Name:
    Jerry
    I agree - A broker is not right for this car - 328's are too inexpensive.
     
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  13. tvu

    tvu Formula 3
    Silver Subscribed

    Apr 13, 2004
    1,232
    Southern California
    Full Name:
    Trieu
    Hi Maggie,

    First off, I want to say that my prayers are with you and your family. From what I hear/read, Paul was a great guy to be around.

    As for me, I am one of those “lurkers” on Ferrarichat, those who reads a lot of the posts, yet seldom have any input myself. I do not own a Ferrari myself(not yet at least), but here are the gems that I’ve gleaned from this board in the past few months when it comes to evaluating a car. Of course the more information you have, the better.

    1. # of owners – the fewer the better

    2. Mileage – Lower the better(but not too low ie. garage queens). 15K - 45K is fine.
    a. Is the mileage consistent?
    b. It’s very easy to disconnect the odometer. One could verify the mileage history with carfax – it will tell you the mileage when the vehicle was smog or when there is a change in ownership.

    3.Service History – Very important
    a. Does the vehicle come with a complete service history – from the dealership to today?
    b. Was the 15K service performed?
    c. 30K major service is the BIG one that everyone is looking for – running for $3000 to $5000. Your car will have less value if wasn’t performed in the last 3 yrs.

    4.Paint & Bodywork
    a. What is the overall condition of the car?
    b. Has it been in any accident?
    c. Has there been a respray?
    i. I think repainting the nose is OK – since you tend to get rock chips from normal driving?
    ii. Complete respray will bring down the value of the car
    iii. Complete respray in a different color will bring it even lower.

    d. Are there chips / dents in the bodywork
    e. Is everything intact?
    f. Are there rust? This is more common for cars in Florida vs. Southern California.
    g. The red exterior and tan interior is the most popular – thereby deserving a premiums vs. other non traditional colors

    5. Electrical – Are these working
    a. Parking lights
    b. Fog lights
    c. High Beams
    d. Hazard lights
    e. Interior lights etc.
    f. Does the battery stay charge over a period of time?

    6.Mechanical
    a. Sound of the engine when idle?
    b. Does it knock?
    c. Are there any leaks?
    d. When was the 30K service performed?
    e. Was the alternator belt or water belt replaced?
    f. Was the water pump rebuilt?
    g. Is there any white smoke coming from the exhaust upon startup?

    7.Tires/ Rim
    a. Original rims are preferred
    b. % of tread left on the tires

    8.Tool pouch / Owners Manuals / Jack
    a. Is the tool pouch complete with wrenches, etc..
    b. Is the Owners Manuals available?
    c. Is the jack available?
    d. Is the spare tire available and in good condition?

    9. Interior
    a. Is the leather tearing on the dash?
    b. What is the overall condition of the leather? Has it been re-dyed?
    c. Carpet condition –
    i. Does it smell?
    ii. Does it look dirty??

    10. A/C & Heating
    a. Is the A/C cold? – might need a recharge
    b. Does the heater control operational for both the driver & passenger


    As for selling your car, there are a couple of avenues.

    1. Placing it in the traditional newspaper/autotrader
    a. Minus – local coverage only, fielding phone calls & emails, and test drive
    b. Plus - Top dollars

    2. Placing an ad online –
    a. Plus – Worldwide exposure
    i. If you choose to go this route, please provide in the post as much information(ie the list above) so that you are not inundate with repetitive emails and phone calls
    b. Minus – a lot of tirekickers and wishful thinkers

    3. Consignment – placing the car for flat fee of $2000. Martin @ Cavallino in Florida is a highly respected Fchat member. Many people have bought & sold their cars through Martin. www.4ferrari.com

    4. Selling the Ferrari to your local dealer

    a. Plus – Quick & easy
    b. Minus – Low dollars

    As a final note – any prudent buyer will want to test drive the car and perform a Pre Purchase Inspection(PPI). You would have to decide on how to handle this.

    1) Take a $3000 deposit, and insist that they flatbed the car to the shop & back. This way they are not taking it for a leisurely spin. Also, the PPI should only take 4 hours, so have them arrange to pick it up in the morning, get it inspected, and return it to you in the afternoon. Don’t let them have it over the weekend.

    2) Maybe you can shell out $400 initially, and perform a PPI yourself, and recoupe the cost in the asking price. Use it as a selling point, saying that a copy of the PPI is freely available upon request. If it’s clean bill of health, chances are they will save their money, instead of performing the PPI and seeing the same result.

    And finally for the pricing – Since I have no idea of the condition of the car, I would venture to say the market is 39K – 45K depending on the condition of the car. Again, that is a big DEPENDS. Other fellow F-chatters who have sold their similar cars can give you better insight.

    Hope it helps & God bless.

    Trieu
     
  14. Chiaro_Slag

    Chiaro_Slag F1 Veteran

    Oct 31, 2003
    7,731
    CA
    Full Name:
    Jerry
    Hi Trieu - Thanks for posting - Nice information there!
     
  15. JOEV

    JOEV F1 Rookie
    Silver Subscribed

    Aug 6, 2003
    2,660
    Canada
    Full Name:
    Joe
    I didn't mean that Maggie should get Michael to broker the car - I meant that Michael is a great source of info and would give great advice with regard to the best way to proceed.

    But tvu's post is excellent.
     
  16. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    73,162
    Houston, Texas
    Full Name:
    Bubba
    I join in to express my condolences to you.

    You probably have already sold it thru this one post!

    Hoping the best...if it languishes in the market, send me a PM.

    Sincerely,
    Speedy308
     
  17. FastRed355

    FastRed355 Formula 3
    Silver Subscribed

    Oct 3, 2003
    1,483
    Westwood
    Full Name:
    Steve
    I sold my 328 in the LA Times(few years ago). I got 6 very interested phone calls. Four of the people saw the car and made offers. One person made an offer sight un-seen(low ball offer).
    They were all very careful in their inspections and very picky. Be prepared.
    It sold from this one add. I would do it again. Plus, they are more local buyers. Once you go to the internet, the travel equation enters the picture.
    GOOD LUCK,
    STEVE
     
  18. 134282

    134282 Four Time F1 World Champ
    BANNED

    Aug 3, 2002
    40,647
    California
    Full Name:
    Carbon McCoy
    Maggie, you have a private message...
     
  19. ernie

    ernie Two Time F1 World Champ
    Lifetime Rossa Owner

    Nov 19, 2001
    22,023
    The Brickyard
    Full Name:
    The Bad Guy
    Hi Maggie

    My condolances and prayers to you and your family. I will say just this, don't sell it for less than what you paid for it. The 328's are becoming the desireable classic Ferrari, and are considerd one of the most reliable cars that Ferrari has ever made. The 328 prices have been on the up swing lately. So be careful of someone trying to slick talk you. There are people out there that will know you don't know about the car and will try to use it to thier advantage. They will try to tell you this, and that, bla bla bla, as to why it is worth less. It's hog wash, don't listen to them. I'm sure you remember what you paid for the car, so, DO NOT sell it for any less. In case you missed it the first few times, DO NOT SELL THE CAR FOR LESS THAN WHAT YOU PAID FOR IT. Don't worry you'll do just fine, and the car will sell, just be patient.
     
  20. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    Some good advice, no need to "fire sale" the car.
     

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