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the F40 is undervalued

Discussion in '288GTO/F40/F50/Enzo/LaFerrari' started by ross, Jun 1, 2019.

  1. ross

    ross Three Time F1 World Champ
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    Mar 25, 2002
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    Ross
    yes, i hear you.
    there are basically 1315 different price points.
    i was only informing the site about a change in insured values according to one of the bigger classic car insurance companies, which i believe is fairly credible.

    and the forex point is well made.
    a year ago $1.2 mil was about 1.1 mil euros, whereas today $1.2 mil is 1 mil euros......but $1.6 mil is 1.3 mil euros :)

    so some of the euro cars that came over here may find their way back to where they came from.

    as regards your example above....an f40 sat for 20 years will easily run to 100k + to rehab, maybe more depending on what they find.
     
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  3. Marcel Massini

    Marcel Massini F1 World Champ
    Honorary

    Mar 2, 2005
    14,907
    Of course, and the new Swiss owner is absolutely willing to spend 100 or more grand or whatever it takes to make it perfect again. No worries. It is now in the hands of a super experienced Ferrari enthusiast that knows every nut and bolt and has the deep pockets (should I say FU money?) to do whatever is needed.

    Marcel Massini
     
  4. Karimsaid

    Karimsaid Rookie

    Oct 2, 2014
    31
    Could you please elaborate on the reasons why are early cars so much more valuable In your view. For example I have a french-delivered Non-both car which is the ~ 25th to 30th produced (June ‘88 - #77626 ) whilst Enzo Ferrari was still alive and I am clinging to it as I had it for almost two decades with sixteen service stamps (all from Ferrari dealers) in the book and meticulous maintenance (eg two new original tank replacement during my ownership and 4 large history files). I drove it regularly to trips from the UK to Europe with 29k km on the clock. I wonder how such a genuine car fares against the low-mileage, many short term owners/investors, which seems to be the sought-after ones?
    Merci d’avance.
     
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  5. joe sackey

    joe sackey Four Time F1 World Champ
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    May 23, 2006
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    Here's the link showing what Hagerty has ascribed for the 1991 F40 currently: https://www.hagerty.com/apps/valuationtools/1991-ferrari-f40

    What they are saying is, today F40s are worth between $960,000 to $1,600,000, and, they are saying the average value is $1,200,000.

    Their data takes account of recent auction high-value sales as seen if you scroll down to the bottom of the page.

    Here's a breakdown of there criteria, embedded here for posterity:

    #1 Concours $1,600,000
    Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours."

    #2 Excellent $1,350,000
    #2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is "excellent."

    #3 Good $1,200,000
    #3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. "Good" is the one word description of a #3 vehicle.

    #4 Fair $960,000
    #4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. "Fair" is the one word that describes a #4 vehicle.


    As any professional who specializes in these cars will tell you (myself included) most F40s are not anywhere close to concours (even though their owners might perhaps understandably think they are), that description applies to @ 5% of the cars extant, the vast majority of F40s are somewhere between Fair and Excellent with values as stated above.

    As always, data is open to interpretation, depending on one's point of view, but it can always be presented in an unbiased way.
     
  6. Senna1994

    Senna1994 F1 World Champ

    Nov 11, 2003
    12,801
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    Joe, always so eloquent and spot on.
     
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  8. ross

    ross Three Time F1 World Champ
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    Mar 25, 2002
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    thats great - i love it when they are rehabed and driven by people with the means to do so.
    can you say where in switzerland?
     
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  9. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    14,030
    ???
    He copy and pasted 90 percent of the response from another source!
     
  10. joe sackey

    joe sackey Four Time F1 World Champ
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    Correct, I copy & pasted for the reason I mentioned in my post, from the source that was referred to here https://www.ferrarichat.com/forum/posts/147505298/ , for the purpose of sharing the full context of what that source is saying about F40 values.
     
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  11. Karimsaid

    Karimsaid Rookie

    Oct 2, 2014
    31
    Thank you Joe for your time & response. Regarding Hagerty, not sure what to make about they valuing the Enzo higher than the F50
     
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  13. Euroryno

    Euroryno Formula Junior

    Feb 2, 2015
    306
    New Zealand
    Full Name:
    Ryan
    Comments / thoughts on Bonham’s auction F40 with 17,000km passing in at £810,000 (or possibly £820,000 - it was 4am here in NZ so my memory is a little foggy)...


    Sent from my iPhone using FerrariChat.com mobile app
     
  14. joe sackey

    joe sackey Four Time F1 World Champ
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    I haven't seen that yet, perhaps their F50 numbers are affected by the sale of the high-mileage black F50 104799 which sold for a lower value, whereas most Enzos that sell are lower-mileage cars without and incident history, I'll have to check it out.
     
  15. joe sackey

    joe sackey Four Time F1 World Champ
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  16. Euroryno

    Euroryno Formula Junior

    Feb 2, 2015
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    Full Name:
    Ryan
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  17. joe sackey

    joe sackey Four Time F1 World Champ
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    Same guide range as in the auction.
     
  18. willcrook

    willcrook Formula 3

    Feb 3, 2009
    1,194
    UK
    it's wonderful you've owned it so long and used it as intended :)
     
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