What Happened with Dino Values!!!

IMO either the declining value of currency or signs that we are approaching a market top. Perhaps both. Does BaT accurately reflect the market? To me it resembles a Betting App.

 

Sure seems like a trend. Maybe it’s time to bump the insurance valuation.

 

I think the current uptick in Dino sale prices is the result of the confluence of two phenomena: the extreme rise in the price of virtually all commodities, and the attack on fossil fuels generally and ICE vehicles particularly. In times of high inflation, potentially appreciating assets are favored over cash or stocks. With the current push for full electrification of all vehicles, and the compliance of the large automakers, who fear the wrath of the government bureaucracy, the days of the internal combustion engine appear to be limited. Purchase of a Dino, even at these higher prices, may represent not only a good investment decision, but also a satisfying blow for the freedom that may soon be taken away from us. I hope that my pessimism regarding the future of ICE vehicles proves to be overblown, but that is how I see things at present.

 

When you blow $5T+ into the economy, those dollars have to go somewhere.

 

Hagerty added fuel to the fire:

https://newsroom.hagerty.com/press/hagerty-announces-2022-u-s-bull-market-list-buy-these-vehicles-before-theyre-hot/

Oh, and, if you watched the auctions, there were several people on each auction bidding vigorously to values very close to the closing price. That would suggest, to me, there is more to it than just “two guys that had to have that car”.

So, I think, looking at these auctions as well as several other recent sales (at least for the time being) the 2 and 3 handle had dropped of the price and we now have 4 and 5 handles.

 

I guess we will find out in ten days if this is a new benchmark or an anomaly.

https://bringatrailer.com/listing/1972-ferrari-dino-19/

 

Many incorrect details.

 

Even a better test to see if it matters to the current big spenders---

 

The in-person auctions have posted some high prices. The more traditional way to buy a car has been to scour the internet or magazine advertisements. You then get to see a few pictures, maybe send a local to do an inspection and probably take a trip. With Bat you have an auction site with a significant quantity of pictures and ongoing commentary and questions. Some contributors are here on this chat-room. The more successful sellers target their pictures to document condition, originality and, as much as possible, relieve the anxiety involved with cars that can have a myriad of positives and negatives. I think BaT offers a reasonable setting for both buyers and sellers. If you present a desirable car, give a good representation of the condition, you should get a good result.

As UroTrash said, "there are several people on each auction bidding vigorously". On the last auction there were at least 5 different bidders over $500K.

And, no, I don't think the current offering will fair any where close to the last three or four cars, it isn't in as good a condition, it isn't as well presented.

Just my $0.02...

 

Funny, not sure why they did not install wiper blades. Lots of incorrect and buggered items. That said, my guess is this car will be over $500K but not by much and no way more than $550K. It has the selling resprayed color and it’s a Euro spec car— those are pretty strong positives. Another positive is the selling prices of yesterday’s cars— not perfect comps but they are Dinos that sold. We shall see.

 

I believe this car will end shy of $400. Perhaps by a lot.

 

BAT has become the market.

 

Can anyone verify BaT results? No.
Look at this recent lunacy:
https://bringatrailer.com/listing/illuminated-sign/
I question whether this was an actual sale. The sign does not look like an original to me.

 

1600veloce is a close friend and one of the bigger sellers on BAT - yes these sales/purchases are real

 

If is shy by a lot, I would buy the car. Unless a Dino needs some significant work, I don’t see any of them selling for sub $400K. Of course, I could be wrong

 

Ok.

Many unkind things could be said about that car, none of which I would want to voice.

Let’s declare.

Pick a single price point.

I declare it will close at $320.

 

If this keeps up, Dinos will go for more than GTCs. Sumthang ain't right.

 

Weird in that the last sentence in the 4th paragraph starting from the top of the BaT listing says: “The heater boxes are said to have been rebuilt in 2018.”

But they don't seem to be in the front where they normally are, but you can see the air flow tubes. So, where are they? No heat and no defrost?

 

I guess they're referring to the heater core. That's an an odd thing to rebuild, unless it starts to leak. The heater box is on the right hand side of the front trunk, covered by the plastic trim piece. The fans are located farther forward, which could be to what they are referring. I have heard that the people at BaT do a lot of the writing. I guess they sift through the information and then try to present it.

 

Oh come on guys! Declare a number before the auction goes 4 days!

 

Okay, having done a deeper dive on the photos, I would say max is $500K (helped by recent “comps”). I am bidding as well but will have PPI done if I get really serious. I am in San Diego (1 hour away from the car) so maybe I can see the car this weekend and report back (and if it looks right then a real inspection)

 

I guess it depends what you’re looking for. Even assuming a clean PPI, It would definitely need a bunch of work to be a successful show car, which would mean paying for shiny and then paying again to redo it. Looks like it would make a perfectly nice driver, though.

 

Yes, am thinking driver that could be corrected over time.