Sheehan on Prices: rising prices for the next two or three years ...

Well done!!!

 

Excellent. Mission accomplished on all counts then. Please post some pics of the 308 GTS.

 

congrats, and your dino was beautiful but glad you'll get to enjoy the 308! curious, if you dont mind sharing if it sold to an individual or a broker?

 

WIN! All around! 308s are great.

 

Congratulations, Graham!
I think you made a wise decision, and having a car one can drive w/o worry is much better than having one you can't.

Jim

 

Good, Graham. It's good you can clear the mortgage and that the Dino helped. But we are sad to lose you. I wanted to say "now save up so you can get another Dino in the coming years," but realize that, if prices continue to climb, that will be difficult.

If I were to sell my Dino now and spend the money, I probably would not be able to afford to buy another in the future. Even at today's prices, I would not be able to. An upmarket has it's downsides.

But good luck!

Best,

Andy

 

Ironically, I find that what Andy says is exactly right. When I was saving for my first Dino in the mid-'70s, my father advised me to save more, and wait until I could pay cash without any loan. I told him that prices were rising faster than my rate of savings. Today's situation mirrors that of over 35 years ago, but the scale has been raised, and much higher than the rate of inflation. As Andy says, that is the downside of higher Dino values. Fred

 

Congrats!

I have debated selling my E-Type to do something similar, but I wouldn't get anywhere near what Dinos are getting. Would only be worth it if I could get an early 308 + a modern F-Car!!!!

Nicely done on your part...

 

Looks like you have a coupe and alas the world does not value E-type coupes the way they should. Everyone seems to want a Series 1 OTS.

 

I have a coupe and it's beautiful. I always liked them over the OTS, but I agree they are a discount to the convertibles.

 

This is the price for a nice Daytona ... ;-)

 

I was reading the current issue of Sports Car Market the other night and was amazed by the high prices at which cars are being sold. Sheehan seems right at least for the near term.

Regarding China, I think the appetite there will be for new cars, not vintage cars. After the handover and the expats left, the vintage car scene in Hong Kong changed dramatically; the local interest was not in vintage cars. Or so it seemed to me.

China may eventually be a vintage car market, but only if status attaches to owning a vintage cars. IMO, that is not likely. They are not flashy enough..

 

Doesnt china currently have a ban on importation of vintage cars? If that changes its hard to believe it will not be a strong positive. The chinese have showed up as significant buyers of art in recent years, granted mostly chinese art but still...as i pointed above it does not take much new demand to drive prices higher when the supply is so limited.

 

+1 the banks still get their money as your investments go down the tube, the favourite excuse market correction. Would put my money in tangible assets all day long especially as you get some enjoyment along the way!

 

My opinion is there won't be much interest, because of cultural and historical differences. Brand new Lamborghinis and Ferraris, yes. Dinos, especially in Dino blue, I don't think so. My opinion only.

 

Sure, and I actually tend to agree that it will never be like the US or Europe. My point is more that you have a massive population and a region that has the highest concentration of high net worth growth globally...so even if 100 new millionaires decide they want a vintage ferrari it will have an impact on a market where supply is limited.

 

Yes, Silver. It's a huge country with many new millionaires.

I wonder what the future of vintage cars is long-term sometimes. There are exceptions, of course, as proven here, but there are certainly fewer young people interested in vintage cars. The interesting cars are probably out of a younger person's budget. The definition of "vintage" or "classic" has also changed. A friend with a vintage car club in the region was telling me that their definition of "classic" - at least 25 years old - has deluged the club with 80s Japanese cars, which the older members don't relate to.

If I were to look for a Dino now, I wouldn't be able to afford one!

Andy

 

My two cents is that China will be a major source of demand for vintage cars, albeit probably restricted to marquee names such as Ferrari. Sitting here in Hong Kong, I've seen what Chinese demand for alternative investment assets can do to prices, from stamps to wine, modern chinese art to antique chinese furniture, real estate to watches. It's, in a word, nuts. Although the accumulation of wealth is restricted to a very small percentage, that population in absolute terms is quite significant and willing to spend. Go to any watch shop in the main shopping areas of Hong Kong, on a normal weekday afternoon, and while you're browsing for 30 minutes, I reckon you'll see at least a couple sales rung up for $20k+ watches, invariably to mainland chinese tourists who are carrying another half dozen shopping bags from other luxury brands.

The conventional wisdom is that the accumulation of wealth by the elite in China has been so fast and so extreme, and yet the domestic financial industry still so underdeveloped, that the cash is seeking any potential investment asset to pursue. Remember too that it's not a straightforward process of getting your money out of China so collectibles are an ideal investment option, although the wealthy do find their ways (witness the massive run up in luxury housing in Hong Kong). Hence collectibles such as wine, stamps, art - which also serve a dual use of showing off your wealth and cultural aspirations - have soared in price over the last decade despite the economic issues in the west. Vintage Ferraris surely fit the profile as well.

For years I've been trying to collect a "vertical" of three Bordeauxs, for my three children, as a gift to them when they reach adulthood. Nothing fancy, just reasonable super seconds. At least, they WERE reasonable until a few years ago, when the Chinese market started discovering that there were wines outside Latour and prices are now up many-fold. Now I've given up collecting and plan to drink what I've collected myself, the kids can go buy their own damn wine when they grow up!

 

Dinos had a huge run up in price, curious given the numbers produced. On the other had if you look at what it cots to fully restore a dino a 350k price makes sense.

From what i see Dino prices have been stagnant for a year with some settling. Yet at the same time 308's Boxers and now Trs are mving. Perhpas there are just so many buyers at each price point.

While in time Chinese buyers will get sophisticated and buy classics, the road conditions in China negate thier use. The classic market is largely driven by eurpoe and the USA.

Long term these cars will all be in demand, simply because there are no modern equivalents. Sorter temr possibly dinos have overshot, and 308s are about to overshoot.

 

I am in the Uk and am looking for a Dino for sensible money. I am not a dealer so just look at the classifieds etc. I have not seen one advertised for under £200K. All the usual dealers have them at £265+ there's even one at £485k. I presume you sold to the trade? May I ask the condition of your car and if it was RHD, GT or GTS? It helps me get a feel for the correct pricing
Thanks

 

looks like the front side marker lights are not placed correctly, maybe a little high. i know it is a euro car so they were added later...

 

UHH, the original post that you are referring to (post # 21 - "Originally Posted by nerodino View Post
Just sold my Dino £195k.........took 12 days!") first appeared in this recently resuscitated dead thread on July 7, 2012 - almost 3 YEARS AGO!!!

So... that's what happens when old moldy threads about Dino prices and values are brought back alive.

I have made the same somewhat sloppy mistake on occasion in the past.