Red Dino on chasing classic cars

I did see it. I think it was a 1972 Model. Had been in that guys tent for 15 years. The Dino was his fathers and when he died that guy got it. Didnt have a place to park it in Manhattan so he put it up on a platform in a tent in his mother in laws back yard and thats where it stayed. Pretty neat stuff.

 

Yes, he paid $55k for the car. With a few hundred $$ of labor and a lot of knowledge they got the car on the road. Wayne said the car ran very well. What a great deal! I would love a "driver Dino" for under $60k.

Also, I love how they are shocked by the cars condition and the rats nest. Seems like a regular car to me that someone stored for 15 years. Every old car that I have ever found in a back yard were in a lot worse shape than that Dino!

Like anything else, if you are in the buisness, you get great deals.

 

What would have happened if the owner would have spent $5k to get the car on the road and then put it on Ebay with no reserve?

 

I had the same thought ! The seller would have done better for himself going that route. I guess he just had no idea what to do or did not want to be bothered.

 

I bet it would have gotten high 90s at least. But it was clear from the episode the guy had no interest in the car or getting it up and running

 

+1

 

yea, i hear you. Maybe the producers edited the commentary to make it more suspenseful but in the opening wayne says "i got a call from a guy about a red sportscar he put in a tent 15 years ago"...never mentions ferrari or dino or anything. he guy didnt know if he had books or papers, had not opened tent in 15 years and really wasnt sure when he put the car there.

btw the car was a GTS...so a great deal at $55k.

 

Was disappointed that they saw fit to restore it with a new interior and exterior color scheme.

Jeff

 

Have they already shown the restoration episode?

Having been involved with Porsches for decades, the Porsche crowd is really obsessed with cars being in their original colors. In the short time I've been playing with Ferraris, people seem to be more relaxed about it, so long as the car is repainted a color that was available for that particular model and year. I actually think that's the better approach. For example, if you saw the Lusso in last night's CCC episode, I would love to have my GTC redone in those colors...appeared to be grigio fumo with tobacco leather, although the colors may not have been "true" on tv.

 

Me too! Like they say, it's only original once... and it looked in pretty good condition when he did the test drive.

 

It was great. Not enough to make 2x your money selling the car unrestored. These guys love to find "projects" for their clients and generate huge premiums. So take a 55k car and sell for 100and then add 50k for restoration! What a business! Sad to see an original car, if that's what it was, turned into a museum piece.

Ironic that it will go from a tent where no one drove it to a museum where no one will drive it! I guess the new owner will at least show it...

Btw, as more f cars are restored that makes even driver original car so much more valuable!

 

I think its a lot more than $50k for a restoration!

 

yeah i would agree, it looked like they were doing a nut and bolt restoration on this car.

what was surprising to me is he said (before he sold it to his customer) this car would sell for 100k once cleaned up a bit...for 100k i would have bought that car, its a good price for a mechanically sorted out driver GTS

 

Interesting. What is consensus view on restoration cost then?

 

Now that is a classic quote!

 

It looked like Carini completely tore the car down for a rotisserie restoration... I know a job like that on my XKE would cost $100,000+. Go to classicjaguar.com for some good photo documentation on restorations (in the CJ blog section). Of couse how much body fabrication and the condition of the engine once you get inside it will greatly affect cost. I would suggest whoever bought that Dino, should have a wad of 150 thousand dollar bills in his back pocket just for the resto.

 

This episode of Chasing Classic Cars was on again and this time I got to DVR it. Lo and behold, I think my car makes an appearance in the show! Part way thru right when Carini gets the red Dino back to his shop, there's a cameo of a yellow Euro Dino GT out front. Based on the fact that the rear bumpers have no license plate lights and there's a passenger side mirror, added to the fact that my 71 Euro GT was on consignment to F40 Motorsports, I'm pretty darn sure the yellow Dino in this episode is actually mine. Wow, not only was it in a prestigious collection (Tony & Lulu Wang), but it was on TV too!

 

Did you notice the rear window of a Dino GT in the F40 shop ? So 3 Dinos simultaneously at the shop ?

 

Wayne bought the car for 55 grand... not knowing exactly what would be needed to get the car moving down the road... Buying a car non op can be frightening... Many of you say 55 is a good deal but would it still be the case if he found later that the cars head gaskets were shot and he had to pull the heads???? then maybe the radiators are just too eaten up inside to cool properly... then he has to get new rads... then the trans jumps out of gear and the gearbox needs to be rebuilt... or how about the whole thing needing to be rewired due to the rats...

This business is not all about buying cars from unsuspecting people and putting a days worth of work into it and making 20-30k... It takes alot of skill, money, patience and well... mostly LUCK! Wayne got lucky. Its about time, every other episode over the last year has been him losing money! There are wins... and there are losses in the biz... you have to make sure the Wins outweigh the losses at the end of day though... Its a tough tough biz

 

Nice catch!

 

Bought a 246gts with a blown engine a few years ago . Paid under $40K for it, not really knowing what was needed at the time. Two years of seaching for parts, $28K later and I am back running. So total investment was under $70K for a car worth $145K or more. Sometimes you can come out ahead on these and I just got luckly. The shop who did the work was excellent and the hardest part was finding everything that we needed. It was a learning experience for me at the time and thankfully it didn't break the bank.

 

The guy did more than alright for himself. He did not know what he had, he did not have the knowledge to know what to do to max his profits, but he realized that enough to get a good chunk of change in his pocket. He inherited the car, so his only holding costs were the price of the tent and platform and putting up with the crap from his Mother in Law to get the car out of her back yard. My only question is if there is a Death Tax that needs to be paid now that the car has been sold, or was it paid fifteen years ago.

 

I looked again, but I never saw any restoration episode. The only episode that I believe that has been aired so far about this Dino ended with the 246gts being prepped with blue primer, with a decision to be made whether it was going to be painted "ruby red" or blue. They didn't show any details of the supposed restoration, other than the paint change and the refreshing of the interior. They talked about maybe having to rebuild the engine (before they started it) but Wayne never discussed that again. It struck me as a little odd that when Wayne first looked at the car it appeared to have Daytona seats, but did not appear to have Campy wheels, yet towards the end it had Campy wheels. It also didn't appear to have flares, and it still didn't appear to have flares at the end of the show.

Further, I saw no evidence in the episode that "Carini completely tore the car down for a rotisserie restoration..."

The premise of the whole episode (as I stated above - the only one that I think has been shown so far) struck me as pretty odd. The seller apparently knew very little about the car, other than that his father owned it and he had stored it in the tent in his in-laws' (?) back yard, yet he knew enough to call Wayne? That was rather pathetic. The episode also made no specific mention of how much Wayne sold it for - perhaps because the seller might have felt like an idiot for having sold it for 50% of its value completely unrestored, and maybe only 33% of its value if he had simply put in a little bit of time and effort into cleaning it up and fixing some of the obvious issues himself.

In the end, even if having cleaned up the car and the car still needed an engine/transaxle rebuild, the seller still could probably have sold it to Wayne for more than he would have had into it. I would have flown in my mechanic to have a look at it and perform a compression and cold/hot leakdown, and would likely have paid $75,000 for it just as it was when it came out of the tent.

I don't begrudge Wayne for making a bootfull of money on this Dino, but I'm willing to bet the seller would likely feel taken advantage of if he had been aware of what he potentially lost on the deal.

I especially have a hard time believing that the seller didn't even bother to f'ing Google "Dino 246 for sale" before getting in touch with Wayne.

And, finally, the question asked by Jack-the-lad, "Have they already shown the restoration episode?," still remains unanswered, as far as I can tell.