330 America (#5061) 99% Finished

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330 America
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330 America (#5061) 99% Finished

Post by 330 America »

For the few that remember my odyssey with #5061, the car leaves Symbolic Motorcars on Feb 17 en route back to Lamborghini Dallas for the engine/gearbox to be re-installed and that car is (after 4.5 years of restoration) -- better than new.

Symbolic emailed me this morning indicating they can't locate 4 items for which I could I use some help (I emailed Tom S. today):

- Battery box cover
- Fuse box cover
- Brake pedal pad
- Interior dome light cover

Now the car is too nice to drive so it's matter of waiting out the downturn in the market for this car to find a new home :(
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Steve Patti
Ferrari 330 Americ (5061) - SOLD
1988 Porsche 944 Rothmans Turbo Cup (ex-Bill Adam)
1988 Porsche 944 Rothmans Turbo Cup (7UP guest car)
Rudy van Daalen Wetters
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Re: 330 America (#5061) 99% Finished

Post by Rudy van Daalen Wetters »

I have to agree. That car is way too nice to drive now!
It would only sit in my garage in that condition.

Rudy van Daalen Wetters
1963 GTE s/n 4001
1966 330 GT s/n 8705
PSk
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Re: 330 America (#5061) 99% Finished

Post by PSk »

Confused? ... surely your going to drive her? Otherwise the next owner gets all the fun.

Pete
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Tom Wilson
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Re: 330 America (#5061) 99% Finished

Post by Tom Wilson »

I agree. You have worked too hard not to drive it now.
Tom Wilson - Series III 250 GTE, SN 4247 GT
Curator of the 250 GTE Register
http://www.250GTE.com
Rudy van Daalen Wetters
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Re: 330 America (#5061) 99% Finished

Post by Rudy van Daalen Wetters »

That car won't see 1000 miles in the next five years.

Rudy van Daalen Wetters
1963 GTE s/n 4001
1966 330 GT s/n 8705
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Re: 330 America (#5061) 99% Finished

Post by Tom Wilson »

Probably, but it should...
Tom Wilson - Series III 250 GTE, SN 4247 GT
Curator of the 250 GTE Register
http://www.250GTE.com
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330 America
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Re: 330 America (#5061) 99% Finished

Post by 330 America »

Here's the dilemma -- if I take a rock chip on the car it probably costs me $10,000 in lost value. Then there's the dirt/road grime that once it gets into seams between chrome and paint, etc. requires an all-day cleaning.

This is why I just bought the OSCA Zagato -- its a strong #3 car that is a paint job away from being a legitimate #2 car. In other words, its a nice driver. My heart says "....drive the Ferrari" but my head says "....what are you crazy? Sell it in this pristine condition to pay off the loan on the OSCA."

Time will tell -- but I think I'll test the market later in 2009 with this car and simply wait on the right offer. As a data point, I've got over $200,000 in the car -- so that will give you a general idea of the kind of money that I'm going to require out of the car. Prices for nicely restored GTE's and America's have been pretty solid:

* 1962 GTE sold for 110,000 Pounds ($230,021 at the 2007 exchange rate)
* 330 America (#5049; ex-Harrah's car) sold for about $165K in 2006 and needed work (I think there was a post on this site)
* 330 America (#5121) sold for 185,000 Euro's (over $300,000 at the 2007 exchange rate)
* 330 America (#5007) sold for 150,863 Pounds ($314,086 at the 2007 exchange rate) at the RM/London Auction

Given Bruce Marquand's statement that a standard restoration is $200,000 at Symbolic Motorcars; I believe this is where these cars are headed in terms of pricing. One could argue that 2009 has seen a 10%-20% drop in prices -- I still like the resulting number(s).
Steve Patti
Ferrari 330 Americ (5061) - SOLD
1988 Porsche 944 Rothmans Turbo Cup (ex-Bill Adam)
1988 Porsche 944 Rothmans Turbo Cup (7UP guest car)
Timo
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Re: 330 America (#5061) 99% Finished

Post by Timo »

The above couldn't possibly suggest that Mr. 330 America may not really be a real car guy, but instead just another speculator over his head and unfortunately for him, possibly at the wrong time ?
What other assumption can one arrive at, especially when there are people driving anything up to GTO's or 250 Testarossas regularly without worrying about a chip or two, or potential prospect of road dust their ride might get subjected to in doing so.
Just wondering...
Timo
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330 America
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Re: 330 America (#5061) 99% Finished

Post by 330 America »

Timo - so I guess you are now the official judge of "car guys?" Glad to meet you. I guess I should share with you that I made a decision to donate $150,000 to a charitable cause recently for which I'm willing to sacrifice my Ferrari to do it. Does that render me no longer a car guy -- or does it make me someone who sees causes bigger than himself? Why don't you join me and match the donation and sacrifice one of your cars?

Re: "in over my head" now you're a judge of people's financial situation too. Please ... at least have the professionalism to do it via a Private Message.

One thing that is dangerous in life -- judging people you don't know. We've never met, so consider extending the courtesy of knowing a little something about the people you so piously pass judgment upon.
Steve Patti
Ferrari 330 Americ (5061) - SOLD
1988 Porsche 944 Rothmans Turbo Cup (ex-Bill Adam)
1988 Porsche 944 Rothmans Turbo Cup (7UP guest car)
Rudy van Daalen Wetters
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Re: 330 America (#5061) 99% Finished

Post by Rudy van Daalen Wetters »

Steve,

With all due respect, you had mentioned that the sale of the Ferrari
was to pay off the Osca loan, not to fund a charity by sacrifice.

"pious" is a good word, by the way.

Rudy van Daalen Wetters
1963 GTE s/n 4001
1966 330 GT s/n 8705
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330 America
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Re: 330 America (#5061) 99% Finished

Post by 330 America »

Rudy - correct, a sale of the Ferrari funds both a charitable gift and a small loan on the OSCA. Ah -- but that's the problem, people make assumptions because that's fast/easy.

Look, I don't want to be confrontational -- that's not the point. We're all car enthusiasts sharing memories, experiences, and our passion for Italian cars (particularly Ferrari). Given that, I just don't feel that I should be required to justify a possible decision to sell one of my ten cars to a guy in Southern California who wants to question whether I'm a car guy by simply wanting to rotate my car stock. For every guy "driving a 250 GTO on the road" (Timo claims this but I've never seen one even in Beverly Hills, Monterey County, etc.) there are lots of guys like Miles Collier, Ralph Lauren, etc. who don't drive freshly restored cars on open roads. One other thing Timo doesn't know -- I recently moved to an hilly rural area with lots of pick up trucks, horse trailers, etc. There's a much higher probability of damaging the Ferrari on the roads around my home than if I lived in the city. That's another consideration for me to think about when I look at where I can drive it outside of our gated community.

Don't worry - I'll make everyone happy by putting some miles on the car. I'm simply saying that I've been without the car for 5 years and emotionally, I've "moved on" because I never had a chance to enjoy it. I could very well end up swapping it for another Ferrari model -- or simply park it in the garage for the next 5 years (who knows!)

Timo - no hard feelings man. I'm sure you're a cool Ferrari enthusiast, but just be a little slower on the trigger :)
Steve Patti
Ferrari 330 Americ (5061) - SOLD
1988 Porsche 944 Rothmans Turbo Cup (ex-Bill Adam)
1988 Porsche 944 Rothmans Turbo Cup (7UP guest car)
Rudy van Daalen Wetters
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Re: 330 America (#5061) 99% Finished

Post by Rudy van Daalen Wetters »

Steve,

Oh, so now it's a "Southern California" thing? Kidding.

Drive that beauty, that is what it is for.

Peace,

Rudy van Daalen Wetters
1963 GTE s/n 4001
1966 330 GT s/n 8705
(all in Southern California)
Timo
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Re: 330 America (#5061) 99% Finished

Post by Timo »

Steve,
I'm truly sorry to hear that Your restoration "odyssey" has brought You to feel such "separation", without enjoyment, from Your car and with all due respect, it just appeared, at least to me, form Your earlier posting on this thread that You seemed more concerned of the financial outcome of the ownership/restoration than enjoyment of car for what it is, a wonderfull car.
Rudy van Daalen Wetters wrote: Drive that beauty, that is what it is for.
Peace,
And BTW, I've never claimed to have seen an 250 GTO "driving on the road" (Corsica bodied Bugatti Rdstr, MB 540K's, L/SWB Cal Spdrs, etc ...Yes !), so appearently I'm not only "quick-draw" around here.
Cheers :)
Timo
PSk
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Re: 330 America (#5061) 99% Finished

Post by PSk »

The best thing that could happen to this car is the first stone chip ... from then on it will be enjoyed for what it is, a car.

Anyway, atleast another 2+2 has been restored :) ... excellent.
Pete
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330 America
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Re: 330 America (#5061) 99% Finished

Post by 330 America »

Timo/Pete - you guys make good points.

Maybe I'm a bit more transparent on a car forum than most -- but there's always some great opinions out there if people will just ask. As I've been surveying my two garages, I've been doing some soul searching as to which cars I hold onto "just because I can" and which ones do I really cherish. The Ferrari hasn't been in my garage since 2004 -- so there's no emotional attachment. As I've watched recent RM auctions on Speed Channel and listened to collectors talk about what they like to buy in terms of #1 cars, the thought has crossed my mind whether to sell the Ferrari now to retire my charitable commitment and retire a small loan balance on the OSCA.

However, it could work out that once the car comes back those "emotional ties" could be created such that I don't want to give it up. The problem is I have more cars than my six car garage can hold -- and two of them are race cars that I cannot part with (the other two being our daily drivers). Thus, perhaps the Ferrari and OSCA occupy slots #5 and #6.

Anyway, thanks for letting a 25-year "car guy" muse a bit. Hey, at least I was smart enough to dump my last American muscle car (a 1968 Shelby GT350) back in 2005 :)
Steve Patti
Ferrari 330 Americ (5061) - SOLD
1988 Porsche 944 Rothmans Turbo Cup (ex-Bill Adam)
1988 Porsche 944 Rothmans Turbo Cup (7UP guest car)
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