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Discussion in 'Ferrari Discussion (not model specific)' started by anunakki, Feb 20, 2021.
Where did they bottom out and when? Adjusted for inflation.
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I don't know the answer,but I bet the cheapest was what they sold for new. Magazines from then show MSRP less than $ 85,000. Two road tests show price as tested about $ 125,000.
Always loved the 288. Would love to just see and sit in one one time.
- I too have wondered what it was like in the 80's to be a person of means who was at a dealer and told to order one ahead of time.
From what I have read none went out of the gate from the factory unsold and I think Ferrari made "a few" more than originally earmarked.
One would think the excitement over the Testarossa coming out would have drawn people to the dealers.
I used to frequent Newport Imports in CA as a teen and the cars there were stunning and the staff were always very nice to me wanting to look at but never touch the cars.
Never saw a 288. Did get to drive and work on Dr Ron Fingers 250 GTO when it was on Tybee bieng restored and later it was getting repairs from the theft. (Jim & Linda, JJI Restorations)
They "bottomed out" when they were new, one sat at FoH at like $78K and people said: "WHAT is that good for??"
Then went for a 328 or a Testarossa
Inflation wise probably cheapest when new, but I do remember they were selling around $400k sometime after we joined this site, mid 2000s. Amazing how far values have risen on pretty much everything since then.
$75k from what I know and have the original manuals from it
Yes, very much so!
I knew several people that dumped them for testarossas.
I don't know what the lowest selling price was for the 288 GTO but I wish I had bought one at that time! I guess that would have been hard, however, considering it was well before I was old enough to drive. I have a R&T Special Series magazine featuring Ferrari from 1987 that lists the 288 GTO (a/k/a "The Instant Legend") price as follows:
- List Price, FOB Maranello (1984)........................................................................................$84,000
- Price as tested (1987).................................................................................................est. $200,000
Price as tested includes std equip. (air cond., elect. window lifts, elect. adj mirrors)
With current fine examples selling for about +/- $2.5 million [???], I really wish I had a time machine to go back to 1984. Not to profit from one of these rare and expensive cars, mind you, but to get to own one of my dream cars at a reasonable price.
BTW, Phil Hill comments in the magazine that the original GTO (1962 - 1964 GTOs) was worth $1 - $1.5 million at that time(1987)...that would have been a great investment at the time as well.
I rember in the late 80's testarossas gooing through the RUF (roof) at over $250k and you could not give a 288 GTO away, I think about $90k for one at that time.
Lets add the year it was for the price at the time. I think the testaroosa peaked in 88 (?) so that's the year i'll go by with that and $90k for a 288 gto but would like to add the $75k previous comment was from I think 86 or 87 on the gto
My parents bought a framed picture of 288 from a swap meet and hung it up in my room when I was a kid. Had it on the wall for about a decade. I always thought it was 308 lol. Only as an adult do I now realize it was a 288 GTO!
But I definitely knew what an F40 was.
Found the pic!
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I had that same poster until a roof leak spoiled it.
I know my pops obsessed over a 308/328 type car in the late 80's. They were going for $125-$150k at the time. There used to be a small Ferrari dealership in Hollywood on Sunset (across the street from a 7 11). We would go in there and look at cars and check prices all the time. I was 7-10 (born in 1980). Just window shopping while my dad was saving up.
In 1991, my dad was ready to pull the trigger. Walked into the Hollywood dealership and they had an NSX in there. My dad's reaction was, "What the hell is this?" Sales persons said, "This is the new Acura." My pops, "Acura?? WHAT? It looks better than a Ferrari. How much?" Sales person, "$85k+$15k premium." My pops, "What?? Cheaper than the Ferrari too?" Long story short, my pops saved up years to buy a Ferrari. Walked into a Ferrari dealership... walked out with an Acura. He loved the NSX though. No regrets.
I feel like if the 288 GTO was really $75-100k in the late 80's, my dad would've bought one. He was constantly checking. Even if he didn't know what a 288 GTO was lol. I sure as hell didn't. I don't think we saw any 80's Ferrari less than $115k. Back then, we searched car ads through the L.A Times newspaper. No pics. Just a 30 word description and price. Those were the days.
Although I was a just kid, my pops and I would discuss 80's Ferraris quite a bit. I can honestly say both he and I never knew about the 288 GTO. I can ask him again, but looking back, I feel like the 288 was part of a secret Ferrari menu or something. I didn't know what a 288 GTO until my 20's. I definitely knew F40, F50, Enzo. Puzzling to say the least.
Here's another gem. Infamous Ferrari collector David Lee, his father had an office was right next door to my pop's in DTLA for a good decade. David Lee was young back then. Late teens. He wanted to buy a Porsche for his first sports car, but really liked my pop's NSX. My pops said, "Here are the keys. Take the NSX for a week." Just like any kid would be, David was ECSTATIC. The last time I saw David, he told me, "I can't believe your pops gave me the keys to the NSX. I was just a kid." David and his pops, who is now passed, are good peeps.
Little late to the party here Jerry but, this is what I found in an old Automobile mag. from June of 1987. I seem to remember they started out at 74,000.00 and by the end of production they were up the 125,000.00 that was mentioned above.
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I was lucky enough to have a ‘little race’ against a GTO one day many years ago, about when they first turned up. I was on the freeway, heading east when I saw it in my rear view mirror, but was approaching my exit at the time. I did observe a bit of smoke as I imagined his turbos spooling, in anticipation of blowing by me! I was driving my custom turbo engined, narrow body 911 Porsche at the time. I would have loved to have known what the GTOs topped out at. (I was gear limited to 172 mph).
I bought a brand new 355 F1 Spider instead of an F40 for the same money, so know how they feel now
Worst decision ever . At least get a manual Berlinetta .
My first view of a 288gto was at the factory in April 1987. The car was in a little showroom right beside the visitors entrance . It was an eyecatcher if ever there was. We had purchased a blue 308gtb two months before and with the styling cues from this car morphed into the 288gto it was like watching a big brother who had been to the gym! A factory visit followed where we were able to see most things EXCEPT where the F40 was underway as this was the 40th year of Ferrari and to mark this anniversay as you all know the F40 was launched onto the world stunning the whole auto scene. Lunch across the road afterwards as you must do then onwards to the next destination. An unforgettable day.
I’d need therapy for that one.
I love it when long time lurkers finally come out of the woodwork to make a post. Gives you a sense of the importance of the story to the poster. Thank you for sharing .
This would be 'lurker" me finally commenting as well. The 288 GTO's were out of my reach when new and even more so now. But I did have the privilege of getting to ride in one at Charlotte Motor Speedway. I was attending a track day there as a driver instructor and the 288 owner, who needed no instruction, kindly let me ride along for a few laps. I recall it accelerated well but what really impressed me was the brakes. They were far superior to all but the race only cars present and would certainly make you glad for the race harness holding you in the seat. A fabulous lasting memory.
This long post by Steve Hill explains everything. 288 GTO’s are imports. Even harder and more expensive to register in CA. No way it was $75k when all said and done.