Where To Get Honest Valuations

Micheal,

I'm sorry your fathers health forces this query. I'll give you my opinion but take it with a grain of salt as I'm not nearly as knowledgeable as some here, and this is a topic of great debate .

Stating the obvious, it's not a good time to sell. Prices are not stable and most agree that the foreseeable trend is downward. Because of this, many buyers are only jumping in when the sale price reflects a discount even below what the perceived value is right now- (the presumption being that values are going lower still).

I'm not surprised the dealers value is below your expectations but at least on the 360, there should be some fairly recent data that will give you a good picture of where the market was yesterday- understand that today's values are almost assuredly even lower.

On the other cars, those are fairly significant and I presume you'll be inundated with folks willing to help you out of them. Estimating values on those is much more difficult in the absence of more data relative to history, provenance, condition etc.... even then, the ranges can be quite wide and I'm not qualified to help there. There are many opinions about what they "should" be worth but the value at which they "will sell" will only be determined by a willing buyer. I fear most willing buyers with cash are also opportunistic at the moment- unless you have something "really" special to sell.

Sorry I can't be more help and best of luck to you and your father.

John

 

For the 360 check out ebay and see where they are really trading.

You can also ask FCHAT Sponsor:

Jimmy Pugliese
516 801 8201

For the other three I'd call Bill Noon at Symbolic.

I'd also contact the auction companies, RM, Gooding, Bonhams and ask them what they think.

Now is a very tough time to sell these cars.

My guess?



Wholesale Today Immediate sale

360 70K
Lusso 450K
275 GTS 350K
Dino 100K

Curious what other's think

 

Hi Jim, Hi MichealC,

Very sorry to hear your father is ill.

We always need inventory no matter what the markets are.

Illness, divorce, settlements etc... are one of the many ways vehicles come to us.

Some methods are less pleasant than others but can often be necessary.

You provide only limited information on your dad's cars but Jim's numbers are close, probably a little low to but that will depend on condition of the cars.

I will send you a private note with my contact details or just about anyone on this site can provide you with them.

I hope in the end all works out well for you and your family.

Regards,

Bill Noon

 

Michael,

First, please accept my sympathies for your father's illness.

Second, with the exception of the 360, these are highly desirable and valuable collector cars. Sell what you must to satisfy your father's wishes, but, if you're a "carguy" and interested, hang onto either the Lusso or 275 GTS if you can (you said he wanted you to sell "some" of them)

Now that you've gone public with this, you will be getting offers from more dealers and individuals than you can believe.

Proceed with extreme caution. You hold all the high cards, don't play them away cheap.

 

"Immediate sale" being the key phrase, I have to believe if they are nice cars, you'd get all of that.

 

Sell the 599 while the selling's good, keep the GTS. The 599 is a late-model limited production car, but not a classic; the GTS is a very valuable and irreplceable classic.

 

Bill Noon on the 330GTS
Jimmy P on the 599.

 

Post up some pictures, plenty of guys right here with cash and they all just happen to love Ferrari's.

 

The new cars are following a standard depreciation curve, even Ferraris bow to it.

On the Vintage collector cars, the curve is instead upward, over time, (historically) but temporarily depressed by the worldwide economic stresses.

So as counterintuitive as it seems, the quicker to liquidate the new cars, the better, the longer you hold the 'old girls', the better chances the values will recover, given time.

You are also very fortunate to have some of the greatest minds in the industry helping you on the thread...LOL!
Even they don't agree at all times, though, so both the high and low valuations (opinions) are "honest".

Me, I was just passing thru on my way to a dance hall over in Austin for Asleep at the Wheel, and thought I'd say "Howdy".

Any of those vintage V12s, and even the Dino, have a better long term "hold" value than most stocks today, IMO.
As well as maintaining your father's history with the marque.

Sorry to hear of conditions like this, I'll join with all of those who wish the best for him and your family.

 

As you see from Napolis' numbers, the 250 Lusso is the highest followed by the 275GTS then the 330GTS.

 

I think your correct- there's 2 things going on. Depreciation- of which the 599 is on the steepest decent; and market decline- which will impact all the cars including the 599. I can't imagine there's any reliable source that believes the market is going to rebound in the short term (6-9 months).

Unless your dad has a special affection or mental aversion to losing his daily driver, the 599 would be my first choice to move only to minimize depreciation losses. Since your dad is especially fond of the 330, I'd likley keep that one and sell only as a last resort- We all need something to smile about and hold on to in the tough times. The others are all desireable cars and should move. How quickly depends on the price versus condition expectations but your Dad knows how to pick winners!

 

The market will get better, but "soon" is a relative word.

It means a different thing to a young man, than it does to an older one.

If liquidation of the 360 and the 599 will get you a year into the future, that's the play I'd make.
Those other cars are Blue Chip investments, in a world that's getting harder and harder to use that term at all.....

The capitol gains realized on any of them simply boggles the mind, but as all of us here know you have to calculate the mechanic and mechanical upkeep into that equation.......

 

You can contact me I am a classic car appraiser. I have a MS degree from George Washington University in DC in Personal Property Appraisal. I also specialize in these cars and routinely appraise cars for estate purposes.

 

To appraise a car for a quick sale like he is requesting you need to use one of the following appraisers: Ebay, Autotrader, Cars.com, FerrariAds.com, etc.

 

To appraise a car for a quick sale like he is requesting you need to use one of the following appraisers: Ebay, Autotrader, Cars.com, FerrariAds.com, etc

Not true at all, many of these car trade word of mouth or through brokers such as Phil Teigmeier and RPM in NH and never see Ebay or other advertised venues.

 

I could tell from your earlier description, the level of care....welcome to the website.

You really will have to let someone see them, they sound like exceptional cars to me....but I really urge you to move as slowly as possible in the current market. However, megabuck package deals have also been done...

+1 on Phil T.....what's his website, Philville or something like that?

Call the folks Napolis listed, if you are ready to drop the trigger.

It's a small world, some here have probably figured out who your Dad is!!!

 

don't take this the wrong way, but i'm just wondering how such a successful person has such health bills.

health insurance isn't covering it all?

i'm relatively young, and thankfully haven't had to deal with my health insurance (knock on wood!).

just wondering if this is something i can look forward to, when its my turn.

 

michael.

Where are you in the Mid West? we have several members who could help you in valuing the cars, and we also have several more collectors who hang out on the East coast who would surely take a look at the collection and be able to provide you with a seriously close valuation.

Of course, some of them are dealers, and would be looking to make some money on these transactions, but to maximize your value, that would certainly be the way to go.

If you'd like, you can PM or email me and I'll put you in touch with the appropriate parties.

DM

 

sorry for the add on here.

would you be available by phone or in person to talk about the cars? Again, most dealers are going to want a face to face with you at your earliest convenience. We've had a really shady guy in vintage recently trying to sell a car he can;t prove he owns, and I suspect there may be some similar concerns here.

Are you in the states at this time, I know some folks travel during the holiday season? Would you be available for a meet and greet with one or more dealer/brokers/collectors to discuss your father's collection?

DM