Thoughts on the 250 SWB that sold at RM over the weekend?

Is a steel bodied street car really a $4-4.5M car now? I thought the car would be in the $2M range and was blown away at where it sold. Any thoughts?

 

Don't you ever wonder where all the money from our economy went?


Someone's bank account, that's where.....

 

I read in another thread that the buyer of 3087 was Chris Evans, is this confirmed and 100% accurate?
I ask because he is trying to sell a near identical (in terms of spec and condition) 250 swb (#3401) here in in the UK for $4 million.

Or was John Collins (Talacrest) the buyer?

There doesn't appear to be much rationale to some of the prices being paid at the moment other than people are buying cars they like and perhaps not as a strict investment.

I recall the afformentioned Chris Evans talking on his radio show recently about an auction for rare music memorobilia and his finishing statement was along the lines of if you like it and you can afford it, buy it, if it makes money then great, if not.....c'est la vie.

Paul

 

I also thought the price was "up there", but I guess someone smarter than me thinks there's more upside...

 

Does there need to be an "upside"? I mean, I understand sound financial decisions and not pissing your money away; but seriously, buy what makes you happy at the price you are comfortable paying and enjoy every moment you can with it.

That's my philosophy - I just don't have the $4.5M yet.

>8^)
ER

 

The opening bid was $4M - the bidding process was over in a couple of minutes - Crazy to watch

Bill

 

Crazy price for that car IMO... Let's see the value of that car in a year from now...

According to Classic Car, the high estimate for a steel bodied 250 SWB should be around 1.7M... Are they off the mark?

 

I actually mis-read Paul's post, thinking he said Talacrest bought it... long story, my post didn't make sense, but I left the "upside" part and now it's too late to edit it...

I agree, it shouldn't be about upside!

 

Gotcha - no worries - I get your point if it was purchased by someone who's typical intention might be to resell it as opposed to someone who is just looking for the right car for their collection.

>8^)
ER

 

$4-4.5m (or around £2m) seems about right in the current market. If a 4 cam is $1.75 - $2m a SWB is usually worth about double.

 

Well we have seen the upside of most models now. Watch this space for the down side. It will come, just depends when, but I will guarantee that it is sooner rather than later.

 

The key to success here is if you are paying in UK Pounds you get just over 50% off. just one man's opinion tongascrew

 

For that you need to earn your living in UK pounds ;-)

 

Guess I'll have to wait a little bit to have my dream car ;-)

 

I took a good look at that car and it was so perfect that I believe it was merely a "statue" to be admired not driven. An almost identical SWB was on display at Concorso Italiano, won several awards was was driven to and from the event. Several of the cars at RM was prepared to similar levels of perfection. Is it time for concours judging standards to require that the cars be driven at least 500 miles per year ? Pebble Beach gives extra points in the event of a tie to cars participating in the Tour de Elegance. What does everyone think about that ?

 

I fully agree.If I had the kind of money required to buy one of these cars I would have a new engine/gearbox built by Classiche and installed and put several thousand miles on in a year and take it to Italy and drive it there. The original engine could be stored/displayed in any number of ways. What's another $100K and just watch the value of your in vestment go up. Who wouldn't want to drive a 250 SWB around Italy or on any open road and let the tach go to 6000 and hang the back end out a little.and stop for a capuccino and watch the crowd gather..Sound like fun?? just one man's opinion. tongascrew

 

Only 6000???

 

Not unlike some of the prancing horses raced regularly in Europe.....excellent idea!

Best 250 SWB noise I ever heard - Cliff Ebben with 3327GT in the mid '90's at Silverstone -

"Obry's mechanic put a GTE block from 4599GT in it brought up to competition SWB specs (+) with electronic ignition, custom cams, a Ferrari F1 clutch, and many other modifications." (www.barchetta.cc)

E

 

We always appreciate the voice of doom.

 

Somehow the lusso version of the SWB doesnt appeal to me nearly as much as a Competizione . I wonder how much a Comp Alloy is worth now !

 

I have to agree with the poster above. The current vintage Ferrari market has 1989 Ferrari market, 2001 dot com stocks, 2005 Miami condos or 2008 light sweet crude oil (take your pick) written all over it. 30+% increases every year for the last 5 years; prices tripling (if not more) over the last couple years; pure bubble, which has to pop eventually. Yes, I've heard how, this time, it's not speculators but real car guys buying for their personal use. I've also heard how currency exchange rates are the driver with cheap dollars buying US cars to Europe and elsewhere and how, in general, cars are a depreciation-proof "safe harbor" asset class in a global economy pummelled by junk mortgage securities and other improvident investments. People invested in a bubble always believe that, somehow and some way, this one will be different. Remember the "new economy"?

 

I have to wonder how much would it cost to build one of these cars from the ground up? I would think it would cost less than 4mil. If your buying the car for the driving experience does it matter where or when it was made?

 

Totally agree. Same thing as in 1991. People thought the prices would rise for ever and we all know how it has ended.

 

After the peak in 1990-91, most Ferrari prices crashed by about 75% and took the better part of a decade to recover. It probably didn't bankrupt anyone but I'm sure that there were some tears shed!

 

That's exactly what I was wondering. A friend of mine sold his SEFAC years ago. He got good money for it at the time. However, I don't think there's a day that's gone by that he hasn't regretted letting it go. These numbers just add insult to injury!

CW