Trading my 09 Scud and 100k for a Dino- am I stupid?

good choice Mark, I sold my Scuderia 1,5 years ago ;-)
it was great fun, but the Dino will stay for ever....
regards Matthias

 

Best trade you'll ever make (especially economically)
But who cares about economically. The Dino, most beautiful Ferrari ever

 

i don't know if the dollars add up, but if it pulls at your heartstrings, and buying at the top of the market doesn't bother you, then go for it.

If you think you're avoiding the possibility of buying a depreciating asset, then this is not the purchase you want to make.

Every market adjusts and corrects. Dinos will dip, maybe not today, maybe not tomorrow, but surely as the Sun rises and sets, there will be a time in the future where your Dino is not worth what you paid for it, if you buy in this market.

D

 

Mark.

Every market ebbs and flows.

Cars, houses, IBM stock, Oil, water, Picassos, you name it.

Dinos are hot right now, just like they were 5 years ago, and as I recall, maybe 15 years ago. They won't stay this hot, the buyers at this price point, and likewise the sellers, will peter out, and you'll have either a lack of buyers, or too many sellers. Supply and demand applies here, as well as any other market.

I sold my car a few years ago at what was, then, the top of the market, for the next three years prices slid south, maybe 20% south. Now they've climbed up to 50% over want I sold for, which is great, but if my buyer had been forced to sell, or decided he no longer wanted the car three years ago, he would have taken quite a haircut.

In addition, older cars break, need more maintenance, and are in a fickle market. IF your car isn't the color most buyers want, or doesn't have the appropriate service records, then who know if it will be worth what it is today, in five years.

Also, I'd be a little wary of the claimed 40K miles. there's no digit in the 100K mile column on these cars, and a 40 year old car with 40K miles? You do the math. IF there's a long string (oh, 20 years or so) of service records that supports the mileage claim, then I'd feel a little more comfortable. I've always found it hard to believe the number of ULTRA low mile cars in the Dino family, given they were the entry level Ferrari at the time, and, I suspect many had the snot driven out of them. Nobody was cherishing the 246GT in 1980 like it was a prize that would be worth 20X or more than it cost new, 40 years later.

I'm not saying don't do it, I'm just saying don't consider the car a nondepreciating asset.

D

 

I think the Dino is one of the safest investments as far as cars go, and will never ever depreciate at the same rate as a new Ferrari. Unless you buy a LaFerrari, that is. And a Dino is soooo much cooler than anything new. Go for it - you will not regret it.

 

I find all this talk of appreciation, depreciation on Dino's quite amusing. I'm going thru a pile of editions of The Tower Report from 1989-1991 that a friend gave me and learning how ALL Ferrari's are exposed to significant ups and downs. Perfect example is the worshipped 250 GTO. In the April 1990 edition, The Tower Report stated that average selling price of this model was down a whopping 28% YTD (that's over just 4 months!), yet up 145% over the prior 12 months. The average selling price was $10-13mil, so that 28% drop was a whole lotta cash lost. But then again, aren't they up around $30+mil now? Another shocking example was 275GTB/4 with a drop of 42% YTD...yikes!

Don't buy any classic car as an investment unless you plan to hold it as long as it takes. Buy it to enjoy it!

 

I agree to buy what you love and not an investment. However, most modern exotic's will depreciate ..... a Dino may depreciate or may not. There is no lack of wealth chasing a fixed number of collectible cars that are not made anymore.

 

Personally I dont really understand the current market, a year or two ago I would have agreed. With the slow economy and fuel/environment issues I was sure that the classic cars would come back where most enthusiasts could buy and drive them. Does not look like this right now, its not just Dino's, look at the early 911 scene, a vgc '65 911 is now around $100k, early 911S are $100k(+) and even the early 911SC doubled in 5 years.

In a "bad market" people put their money in gold and art and (limited edition) classic cars could as well be regarded safe investments.

Prices may raise or fall but having fun and enjoying the drive is priceless.

 

It may be to late for you on this Dino sorry you missed it, but I recently bought a dino (this past summer) , I have bought many vintage cars over the years (for my own collection) and have never regretted buying in this type of market (for the Dino) one thing I have learned is that when the market shoots up like it has for the Dino some VERY good cars will show up on the market and many people start taking better care of their cars (i.e. restorations etc thereby improving the existing cars) . Sure Dave is absolutely right the market will have its ups and downs (and at some point dinos will likely go down) but generally you will see new highs a few years later. So I think if my experience over the past 15 years or so is any indications as long as you never get in a situation that you have to sell the car if you hold it a couple more years markets will come back. THat is if they fall. In the mean time the Dino is one of the best looking cars ever built by Ferrari or most nearly anybody. and it is a blast to drive. Buy one you will love it. I do not look at these cars as an investment but like the idea of not losing money if and when I sell the car.

 

Never buy for investment. Always go for what you love! A modern mid engined Ferrari with a manual box with a pure, relatively uncomplicated flat-crank V8 or V12 gasoline motor will eventually be rare, collectible and desireable due to a future destined to have emission and fuel efficiency driven F1 sequential type gearboxes and more complex hybrid drive systems. As an example, an Audi R8 V10 manual or Porsche RS 4.0 in the future will be looked upon as a "pure" driving experience. Buy what yanks your chain visually and emotionally. There are only so many Dinos left. A Dino is designed for a different purpose than a Scud. A Dino is more for winding roads and enjoying the visuals, the feel and the sounds and not worrying about how fast you're going. Not really a track car. A Scud IS about speed and lap times. A much more serious machine. Just make sure you buy a Dino for the right reasons.

Freeman

 

You will never regret if you buy Dino.

This car can make a big smile and if you have a nice one there is a lot of potentionals buyers when you decide to sell.

 

Respectfully would like to add more data to this:

1) Had dm kept his Dino rather than buy a 360 the monetary spread would have been seriously in favor of the Dino

2) If you think Vintage maintenance is pricey just look at SCUD failures of the F1 tranny clutch actuators that happen at low mileage. $25k to $30k are well documented in the 360/430 forum and discovered as a nasty surprise during routine clutch change.

http://www.ferrarichat.com/forum/142018605-post80.html
http://www.ferrarichat.com/forum/142009103-post59.html
http://www.ferrarichat.com/forum/142000835-post18.html
http://www.ferrarichat.com/forum/360-430/275825-f430-problems-f1-pump-actuator-solenoid-valve.html

Quite frankly Dinos are reliable if you drive them regularly, put an aftermarket ignition box in, keep the carbs in tune and have valve covers sealed periodically so oil does not drip on the alternator. Valve lash check/adjusts MIGHT be needed every 30k Miles but nowhere near the cost of a SCUD's complex failure$.
I'd dump the SCUD.