Insurance adjustment needed?

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330GT
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Insurance adjustment needed?

Post by 330GT »

Perhaps we all need to review our insurance coverage.

330 GT 7191, a barn find, just sold at a Bonham's auction in the UK for $109,147. Very ratty shape and not run in 7 years.
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Pictures copyright Bonhams 1793 Ltd.
More details at http://www.330gt.com/Detail/7191.html.
Regards, Kerry
http://www.330gt.com 330 GT Registry
http://www.parrotbyte.com/kbc/ferrari 250 PF Coupe 1643GT, 330 GT 2+2 8755GT, 308 GTS 23605
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330GT
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Re: Insurance adjustment needed?

Post by 330GT »

Well, Lowell and I are upping our coverage based on the Scottsdale sales in the last couple of days:

8523 (http://www.330gt.com/Detail/8523.html) sold for 275,000 (including buyer's premium)
8601 (http://www.330gt.com/Detail/8601.html) sold for 192,500 (including buyer's premium)
9675 (http://www.330gt.com/Detail/9675.html) sold for 150,200 (including buyer's premium)
Regards, Kerry
http://www.330gt.com 330 GT Registry
http://www.parrotbyte.com/kbc/ferrari 250 PF Coupe 1643GT, 330 GT 2+2 8755GT, 308 GTS 23605
PSk
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Re: Insurance adjustment needed?

Post by PSk »

Is it going to be sacrificed?

Pete
Suebian330
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Re: Insurance adjustment needed?

Post by Suebian330 »

http://www.ebay.de/itm/271142404375?ssP ... 1423.l2649

Here is another donor car, a bit overpriced. Many essential parts already missing. Hard to believe that the car was stored under a shelter after only few years and 10000km on the road.

But if you look desperately for some parts that might be a chance??

Dieter
[b]Suebian330

#8741 330 GT2+2[/b]
SLM
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Re: Insurance adjustment needed?

Post by SLM »

Judging from the recent RM auction of s/n 2697 for $226,100 we are all under insured!
62 250GTE S/N 3733
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330GT
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Re: Insurance adjustment needed?

Post by 330GT »

Prices on 330 GTs just jumped again.

8251 (http://www.330gt.com/Detail/8251.html) sold for 308,000 at the RM Auction in Scottsdale.

8551 (http://www.330gt.com/Detail/8551.html) sold for 297,000 at the Gooding Auction in Scottsdale.

And I'm having trouble convincing my insurance company that my car (8755) will be worth 250K when the new paint job is done in a couple of months.
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Regards, Kerry
http://www.330gt.com 330 GT Registry
http://www.parrotbyte.com/kbc/ferrari 250 PF Coupe 1643GT, 330 GT 2+2 8755GT, 308 GTS 23605
Lowell
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Re: Insurance adjustment needed?

Post by Lowell »

Did 8251 have a complete set of books and tools?

I see that the tow row of fuses in the engine compartment are missing a cover.
The cover is easy to make. So what else is missing on the car?
Lowell Brown
1966 Gold 330 2+2 Series II
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peterp
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Re: Insurance adjustment needed?

Post by peterp »

330GT wrote:Prices on 330 GTs just jumped again.

8251 (http://www.330gt.com/Detail/8251.html) sold for 308,000 at the RM Auction in Scottsdale.

8551 (http://www.330gt.com/Detail/8551.html) sold for 297,000 at the Gooding Auction in Scottsdale.

And I'm having trouble convincing my insurance company that my car (8755) will be worth 250K when the new paint job is done in a couple of months.
There is also this one: http://www.goodingco.com/vehicle/1966-f ... ries-ii-2/

I increased my insurance with Heacock in August to $225k. I requested $250k and they came back with $225k since the price run-up was so recent. I had the 330 on my regular insurance provider without an agreed value policy for many years before moving to Heacock about a year or two ago. I wonder how a regular insurer (non-agreed value) would value the car in the current market if there was a claim.
Peter P
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Re: Insurance adjustment needed?

Post by 2x2+2 »

It seems the Series 1 330 GTs are also making some progress (at last). 7059 sold for $218,541 yesterday at the Bonhams auction in Paris. See
http://www.bonhams.com/auctions/21768/lot/394/
Artcurial were also selling a GTE (3903) and another Series 1 330 (#5831) today but haven't published the results yet
David Wheeler
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tyang
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Re: Insurance adjustment needed?

Post by tyang »

A friend of mine at the French auction said the GTE sold for $381K USD, but it's unconfirmed, and I think that's the hammer price. I also heard that it's a non matching number GTE that is decent, but not a great car.

Tom
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Re: Insurance adjustment needed?

Post by 2x2+2 »

Interesting price. The Artcurial description says it was restored to its original color in 2012 in Italy. Engine and running gear completely overhauled but no mention on different numbers. Car is a Series 2, according to Gerald Roush but has some additional lights and buttons on the dashboard
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David Wheeler
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Tom Wilson
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Re: Insurance adjustment needed?

Post by Tom Wilson »

$381,000 is confirmed! The car lost it's engine to PF Cab 1923 in the 1970's. If you look at the engine photo from the catalog (below) you will see that the stamping uses the wrong font (right font also below) and that there is no Numero Interno. I have confirmation from someone at Retromoblie that the Numero Interno has been removed. Guess we will never know where the engine came from.
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tyang
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Re: Insurance adjustment needed?

Post by tyang »

Tom Wilson wrote:$381,000 is confirmed! The car lost it's engine to PF Cab 1923 in the 1970's. If you look at the engine photo from the catalog (below) you will see that the stamping uses the wrong font (right font also below) and that there is no Numero Interno. I have confirmation from someone at Retromoblie that the Numero Interno has been removed. Guess we will never know where the engine came from.
3903 GT Engine.jpg
Engine Numbers.jpg
The word on the street was this engine was wrong, so thanks for confirming this Tom. I always wonder what the Auction House does with a case like this. If I heard this rumor, then I'm sure their sales staff heard it as well, so how much of this information are they obligated to divulge to potential bidders? If a broker were selling this car, they would have had their feet held to the fire if the buyer found out. $381K is a lot of money to spend on a non matching numbers Ferrari that the Factory will probably not endorse.

Tom
'63 330 America #5053
zac
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Re: Insurance adjustment needed?

Post by zac »

Tom and Tom,

Can you confirm for me that the €280.000($381,000) was the final price or the hammer price? I was under the impression that was the hammer price so commionsions and VAT plus any taxes would be on top of that. Either way it's a crazy number for a GTE not to mention a GTE with the engine issue and all the other incorrect details.

Zac
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Tom Wilson
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Re: Insurance adjustment needed?

Post by Tom Wilson »

Hammer, so add $38,000 for commission plus whatever other taxes and fees are appropriate. In any case, it was north of $400,000. I should also correct myself and point out that the engine is in PF Cab 1925, not 1923.
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