We all have "reasons" to own these cars. For some it's the enjoyment of use, for others it's just "having" it, for you it seems that resurrecting something lost is what brings joy to you. If that's true, get another project.
I think we're of similar mind. I enjoy the project more than the finish. I hate when they're "done". I tried painting for a while and I was told "you don't know when to leave the canvas". It's the same with cars.
Were I in your position, I'd do a swap for a project with equal value (remember the tax man will have an open hand if you sell). You may be able to swap for an earlier car that'll provide new experiences for you. Perhaps a pair of PF Coupes, one inside plug one outside!
Is it time to Sell?
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steve lapp
- Posts: 102
- Joined: Sun Jan 30, 2005 10:48 am
- Location: Ontario, Canada
I'm with the crowd that does not think prices will come down. I have always thought the prices of the higher volume vintage v12's would reach their equivalents in inflation adusted dollars, so 200k to 300k is about right. With millions of people in the world reaching obscene levels of wealth, money for good restored cars will be good, while the cost of rough cars will reflect restoration costs.
What's is even worse for temptation to sell,...... owning an appreciating 330 in Canadian DOLLARS!
my 1.07 cents worth
cheers
What's is even worse for temptation to sell,...... owning an appreciating 330 in Canadian DOLLARS!
my 1.07 cents worth
cheers
Steve Lapp
Ontario Canada
2013 Nissan Leaf, 2002 Prius, 56 Healey 100-4, 74 BMW 2002, 330 GT 2+2 s/n 6241, 54 Dodge M152 (listed by decreasing fuel economy)
Ontario Canada
2013 Nissan Leaf, 2002 Prius, 56 Healey 100-4, 74 BMW 2002, 330 GT 2+2 s/n 6241, 54 Dodge M152 (listed by decreasing fuel economy)
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John Vardanian
- Posts: 1908
- Joined: Wed Sep 04, 2002 12:13 am
- Location: San Francisco Area
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Rudy van Daalen Wetters
- Posts: 1206
- Joined: Thu Jan 22, 2004 5:53 pm
HA!,tyang wrote:When I bought my car in 1999, it was still a lot of money for a car in parts in pieces, Tom
I saw the original Hemmings ad dude, busted...
Look, I for one am not buying into this fantasy that 2+2 ferrari's are the fabulous investment that others seem to think. I bought our car in 1995, at what perhaps was the bottom of the market - but even at that time a fellow in LA was waiting for someone to pay $75K for nicely restored GTE that traded at over $135K in 91. For those that were off with the fairies, in 95 people struggled to get 30K for a GTE, and most traded below 20. Perhaps it is true that the real barkers won't be at 20K for a long time, maybee never, but I am sure that someone waving $150K in your face has a life expectancy of about 12 months based on history. I could be wrong - hey, if I am, it's all good - but if I'm right????
LAter.
Just based on my own experiences with a Lusso I owned, I feel that they are much better to look at than to drive (but man, are they great to look at!)
Coming from a 4 liter motor and overdrive gearbox of the 330 America, you'll find the Lusso has less oomph. And considering the cars were made around the same time, it's too bad that there was not an option for a 330 Lusso.
But again, wow . . . what a great shape!
Coming from a 4 liter motor and overdrive gearbox of the 330 America, you'll find the Lusso has less oomph. And considering the cars were made around the same time, it's too bad that there was not an option for a 330 Lusso.
But again, wow . . . what a great shape!
I entertained similar ideas for mine...not so extreme, more along the lines of 6 carbs, engine and exhaust tweaking to match, cold-air box with well-integrated hood scoop, perhaps even a nitrous system. Fun and expensive daydreams.abrent wrote: Yeah baby - how about a 330 4H, bagged with 20" rims, Blower, Flamethrower exhaust, custom interior and pearl paint. Waddya tink homey.
Tom
A front engined V12 Ferrari with webers is one of life's necessities, NOT a luxury. Not having one is NOT an option. Once you get addicted there is no known methadone treatment. So if you decide to sell you must get a replacement. C4s are GREAT.
John
A front engined V12 Ferrari with webers is one of life's necessities, NOT a luxury. Not having one is NOT an option. Once you get addicted there is no known methadone treatment. So if you decide to sell you must get a replacement. C4s are GREAT.
John
John
Failure is not an option. It comes bundled with Windows.
Failure is not an option. It comes bundled with Windows.
My 64' Lusso had a 6 carb setup - probably the best sounding car I've ever owned. But man, Ferrari could have done better - a LOT better, especially when you look at the 275 which came out in 64, or the 330 GTC, which is probably one of the best handling vintage Ferrari's ever, IMHO. I guess it just makes me mad when I think about how great the Lusso could have been, given the technology that Ferrari had available.Yale wrote:But but, I've seen hotted up Lussos, and that seems to be a cool way to go. GTO cams et el, (and maybe a blower coming out of the hood?) Yale
If I was going to budget $250,000 on a vintage Ferrari today, I'd probably buy a 330 GTC.
Hi Guys,
Thanks for the thought provoking comments!
When I arrived at Francois' shop, I was met with a Lusso in his garage! How fitting. I stopped to admire its lines as I always do whenever I see one, and today she only clouded my dreams even more! I know this morning I was pretty set on keeping my America, but do you have any idea how hard it is to resist the tempations of a Lusso!?!
In all seriousness, I doubt a Lusso will ever be in my reach, even a basket case car will cost my car plus cash, not to mention the resotoration costs once I have ownership. I can remember when I was buying my 330 America, a Lusso project could probably be bought for $75K, while drivers were selling for $120K. Those prices back then were all the money in the world, just like they are today in relative terms.
I absolutely loved restoring my 330 America, and am rewarded every day I get to drive my car, and even with the knowledge that it sits in my garage. i don't think it would so easy for me to simply sell it after all that work. Like I said, I think there is a part of me in this car that may not be separated so easily. I followed project33.com and I read recently he's selling his car after a similar amount of time building his car as mine. He'll use the money to finance the next project, but that's not me. I want to enjoy all the hard work I put into my car by driving it. I just miss working on it too! I guess I want my cake and I want to eat it too!
Taking the money and running? I don't think so. My wife and I talked about it, and although we could finance another trip for 6 months ( or longer) somewhere else in the world, not having a Ferrari would be too much of a sacrafice. I am lucky to have the opportunity to own this car, I'm not about to let it go!
Sell the car, buy a project GTC, pocket some cash? Hmmm....
Tom
Thanks for the thought provoking comments!
When I arrived at Francois' shop, I was met with a Lusso in his garage! How fitting. I stopped to admire its lines as I always do whenever I see one, and today she only clouded my dreams even more! I know this morning I was pretty set on keeping my America, but do you have any idea how hard it is to resist the tempations of a Lusso!?!
In all seriousness, I doubt a Lusso will ever be in my reach, even a basket case car will cost my car plus cash, not to mention the resotoration costs once I have ownership. I can remember when I was buying my 330 America, a Lusso project could probably be bought for $75K, while drivers were selling for $120K. Those prices back then were all the money in the world, just like they are today in relative terms.
I absolutely loved restoring my 330 America, and am rewarded every day I get to drive my car, and even with the knowledge that it sits in my garage. i don't think it would so easy for me to simply sell it after all that work. Like I said, I think there is a part of me in this car that may not be separated so easily. I followed project33.com and I read recently he's selling his car after a similar amount of time building his car as mine. He'll use the money to finance the next project, but that's not me. I want to enjoy all the hard work I put into my car by driving it. I just miss working on it too! I guess I want my cake and I want to eat it too!
Taking the money and running? I don't think so. My wife and I talked about it, and although we could finance another trip for 6 months ( or longer) somewhere else in the world, not having a Ferrari would be too much of a sacrafice. I am lucky to have the opportunity to own this car, I'm not about to let it go!
Sell the car, buy a project GTC, pocket some cash? Hmmm....
Tom
'63 330 America #5053
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David Booth
- Posts: 271
- Joined: Wed Sep 04, 2002 2:23 am
- Location: Vista, California
- Contact:
While I really appreciate Andrew's confidence in my opinion, expecting me to say something intelligent on cue is a bit like expecting Lucas electrical components to work just fine every time you throw the switch.
There are lots of people better suited to comment on what's going to happen with the vintage Ferrari market, and even more with the real-world experience to talk about intelligent financial planning. After all, I'm the original "buy high, sell low" guy. I would no more presume to tell someone what to do with their hard-earned asset(s) than I would the newcomers who occasionally sidle up next to me at the craps table and ask, apparently because I give the impression that I know what I’m doing, “..should I put my chips down here?”. My usual reply to them is, “don’t ask me; ask the dice”.
I would only venture the obvious: while there are peaks and valleys in vintage Ferrari pricing over the years, the unmistakable trend is upward. There are plenty of people who have bought rough cars well, restored them, and used the resulting equity to move up-market. But obviously, you need two things to be successful at that game: near-perfect timing, and the ability to divorce yourself from the blood, toil, tears and sweat that the finished car represents to you and you alone. And as I think we all know, we’re now in the narrow end of the funnel with these cars and the days of that happening, because of the buy-in price and the decreasing number of available suitable cars, are numbered.
Tom, if you find the right candidate (and a GTC would be a really good choice) and can part with the America, then go right ahead. We, your faithful flock, will be only too happy to spectate on your next project.
There are lots of people better suited to comment on what's going to happen with the vintage Ferrari market, and even more with the real-world experience to talk about intelligent financial planning. After all, I'm the original "buy high, sell low" guy. I would no more presume to tell someone what to do with their hard-earned asset(s) than I would the newcomers who occasionally sidle up next to me at the craps table and ask, apparently because I give the impression that I know what I’m doing, “..should I put my chips down here?”. My usual reply to them is, “don’t ask me; ask the dice”.
I would only venture the obvious: while there are peaks and valleys in vintage Ferrari pricing over the years, the unmistakable trend is upward. There are plenty of people who have bought rough cars well, restored them, and used the resulting equity to move up-market. But obviously, you need two things to be successful at that game: near-perfect timing, and the ability to divorce yourself from the blood, toil, tears and sweat that the finished car represents to you and you alone. And as I think we all know, we’re now in the narrow end of the funnel with these cars and the days of that happening, because of the buy-in price and the decreasing number of available suitable cars, are numbered.
Tom, if you find the right candidate (and a GTC would be a really good choice) and can part with the America, then go right ahead. We, your faithful flock, will be only too happy to spectate on your next project.
1960 SII PF cabriolet #2105GT
1963 250GTE #4799GT with 330 America engine #5033GT
"...Luigi follow only the Ferraris.."
1963 250GTE #4799GT with 330 America engine #5033GT
"...Luigi follow only the Ferraris.."