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Classic cars which went for top $ @ recent Monaco auction - Page 2

post #16 of 27
5/10/10 at 1:01am
What is the reason that Ferraris from the 60s fetch such a high price?
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post #17 of 27
5/10/10 at 1:13am
Quote:
Originally Posted by oneeightyseven View Post
all hawt, but never would I consider those prices regardless how rich I am.
well maybe if you made more then $500K a year...
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post #18 of 27
5/10/10 at 1:22am
All beautiful.

John O'Q's collection was much stronger in vintage classics ( especially Duesenbergs ) than he was into racing/sports cars. Though he did have many Ferraris, Ford AC Cobras and other interesting cars of this type.

I kind of like the vintage and historical cars too.

I'm supposed to take a Dr. to see the racing car part of the collection this week. If I do, I'll take pics. The Dr. owns a 2005 Ford GT with a 1,000HP. I might drive it but I'd be scared of killing myself.
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post #19 of 27
5/10/10 at 2:50am
Thread Starter 
Here in Mass a certain shop was hired by Ralph Lifshitz to restore something simiiar to this late 1930-s Alfa.
They did a spectacular job considering near absence of any documentation and/or jumping-off point as the "base" vehicle constituted a handful of rusted parts.
I was told those sorta projects start @ 1/2 million dollars and might rapidly blow the roof off.

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post #20 of 27
5/10/10 at 2:55am
nothing like the 60's and beating the shit out of your ferrari on mulholland....
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post #21 of 27
5/10/10 at 5:00am
Quote:
Originally Posted by aguydude View Post
What is the reason that Ferraris from the 60s fetch such a high price?

Demand, due to the Ferrari name, and supply - model runs were incredibly small in the 50s and 60s - we're talking a few dozen cars in a lot of cases. Ferrari's rule is supposedly to always build one less than they thought they could sell. Throw in that most have either celebrity of competition provenance (or both), and you get crazy prices.

They're also helped by the newer cars, which aren't nearly as beautiful or desirable and don't often perform much better. Production numbers increased in the 70s and 80s with more entry-level cars (the Dino, the 3x8s), so prices for later cars are much more sane. Aside from a few limited-edition cars like the 288GTO and Enzo, Ferraris depreciate like regular used cars now.
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post #22 of 27
5/10/10 at 6:00am
If you look at older car enthusiast magazines from the '60s and '70s, a lot of these 1950s and 1960s Ferraris, Maseratis, etc. were being sold for pennies on the dollar. They were considered mere used cars back then, and not even as particularly marketable used cars--a very niche interest back then.
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post #23 of 27
5/12/10 at 8:43pm
I don't see either the new Cali or 599 aging well in the future, while I think the 360 and 430 will probably look pretty good. The 360 still looks good now and it's over 10 years old already, not bad for avant garde car design.
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post #24 of 27
5/12/10 at 9:00pm
The market has been totally overheated for about 10 years now. No matter which cars you look at. At a recent auction a Lancia Falminia Bertone Coupe sold for 144k€ this is double as much as the car's realisitic worth. Same goes for Aston-Martins or old Mercedes-Benzs, you could get a good DB5 or & from 50k€'s on, now its 3 to 6 times as much, same with these Ferraris. A couple of years ago you would have had problems selling one for over a million, nowadays it's gone insane. I know it's also a question of supply and demand, but these cars are not worth this amount of money.
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post #25 of 27
5/13/10 at 12:30am
theres something so rounded and charming about these cars, but holy **** are they expensive.
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post #26 of 27
5/13/10 at 1:59am
Bugatti sold a few weeks ago for 30 million.

http://www.autoblog.com/2010/05/05/1...rd-30-million/

These cars are like status symbols among collectors. If I made that kind of money I would be all over them myself.

I may not be able to afford 200k cars but I can afford certain cars that have not taken off yet. Most luxury cars from the 20s and 30s are far beyond the reach of the average man. Cars from the late 40s and 50s are still affordable. 10 years from now that will be a different story.

The thing is the cost of restoring a car is fucking expensive. Thats a huge factor in driving up the prices. One reason is if it cost you 100k to restore the rust bucket in your back yard you may just trash it. Also if your looking for one of those cars paying 80k for one in mint condition makes alot of sense.

I built my 914 over the last 3 years at a cost close to 6 figures. I plan to keep it for life but if I had to sell it right now I would get raped so fucking bad. I would be lucky to get 40k for it right now. But I never plan to sell so I don't worry about that to much.
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post #27 of 27
5/13/10 at 9:37am
Quote:
Originally Posted by turboman808 View Post
Bugatti sold a few weeks ago for 30 million.

http://www.autoblog.com/2010/05/05/1...rd-30-million/

These cars are like status symbols among collectors. If I made that kind of money I would be all over them myself.

These cars are the elite of the collecting world right now - Duesenbergs, Rolls-Royces, Bugattis, all the coachbuilt cars of the 20-30s. What I wonder is how long that will last. The guys collecting these cars are older and I don't see the younger generation being as excited about them (seeing as how many have no idea what they are).

I think we'll see prices for these start to drop as interest wanes, while 50s-60s exotics continue their rise. As LabelKing pointed out, these Ferraris were a couple of grand in the 70s, but really, you could still wind up kicking yourself. I passed on a $40k Ferrari 330 about 7 years ago; they've doubled in that condition since then, and I've no doubt they'll keep rising as interest in 60s Ferraris continues to grow.
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