[Mike430]

On offer from Mike Sheehan....

We are pleased to offer 1966 Ferrari 275 GTS s/n 07605. Finished in excellent silver paint with superb dark blue leather and a dark blue top. This very low mileage 275 GTS was garaged and not driven from 1972 until restored in 1999-2000 and so is in excellent condition. The seats, door panels, dash and console upholstery have excellent patina and show very little signs of wear. The canvas soft top is excellent, with a clear back window. This Ferrari currently shows only 35,878 miles, was just thoroughly serviced and has already passed a pre-purchase inspection. 1966 Ferrari 275 GTS s/n 07605 is as close to a near new 275 GTS as is available in today's market and is priced right at $495,500 O.B.O.

The engine, clutch, engine accessories, gearbox and half-shafts were all rebuilt less than 1,000 miles ago, and so this 275 GTS runs and drives "as new". While the engine was out for rebuild, the engine bay was repainted in the correct semi-gloss black, the air cleaner, cam covers and fuse and relay box cover were repainted with the correct wrinkle finish and all the hoses were replaced. The distributors and fan motors were rebuilt, along with a fresh hood pad, capping off an effort to make this car approach a 100 point example under the hood.

It has been fitted with a full, stainless steel Tubi exhaust, the Borrani wire wheels have been painstakingly polished to "as new" standards and new Bridgestone tires and spare were fitted. The aluminum, stainless, and chrome trim throughout the car have been hand polished and is near perfect. Just serviced with engine oil, filters, transaxle grease, coolant and brake fluid all changed and a fresh four-wheel alignment. Already passed a pre-purchase inspection with the paperwork in hand.

[JazzyO]

Great looking car, but I have to ask the question: what is that plastic '90ies stereo in there????

Love the phrase "already passed a pre-purchase inspection". The person who determines whether it passed or failed is the prospective buyer, no-one else.


Onno

[JTNY]

What does everyone think this is worth now? Didn't see any pass through recent auctions.

[Boxer]

Originally Posted by JTNY

What does everyone think this is worth now? Didn't see any pass through recent auctions.

Very hard to say. The value I would personally put on it (i.e what I would consider spending to buy one) is $300k.

[JazzyO]

IMHO you can't buy a good one in Europe under €400k.

The American market has been a lot lower for this model, and the red one at Sheehan was for sale for the best part of a year at $395k. If I was an owner I'd hang onto mine as I feel prices will start climbing sooner than expected, and I would certainly not sell below $375k. If I had a really good one, I would not sell below $450k.

All just my private musings, of course.


Onno

[JTNY]

Are you in Europe JazzyO? Spent some time this weekend with exotic owners here in NY and no one here thinks prices are going up anytime soon here. Most are guessing substantial further decline. What's your thinking here, just inflation?

[Boxer]

Prices in Europe seem to have stabilized.

[Andrew]

Originally Posted by JazzyO

Great looking car, but I have to ask the question: what is that plastic '90ies stereo in there????

Love the phrase "already passed a pre-purchase inspection". The person who determines whether it passed or failed is the prospective buyer, no-one else.


Onno

Onno, My thoughts exactly on the radio.

[JazzyO]

Originally Posted by JTNY

Are you in Europe JazzyO? Spent some time this weekend with exotic owners here in NY and no one here thinks prices are going up anytime soon here. Most are guessing substantial further decline. What's your thinking here, just inflation?

Yes, I am in Europe. My main reasoning is a strengthening in the economy causing the market supply to contract in the short term. If I was thinking of selling a car, I would hold onto it as the recovery is (albeit slowly) coming into view. I would not be alone in that thinking, so I think that it reasonable to assume it would influence the supply. As Boxer mentioned, prices seem pretty stable in Europe and taking that into consideration I think a slow strengthening after a couple more months is to be expected.


Onno

[212Export]

The markets positive tone is a "reaction", naturally and imo just that. I have serious doubts about the rosy scenarios of "back to normal". Serious rebalancing the destroyed balance sheets of whole society's take normally longer than 1 year. Just my 2 cents.

[JazzyO]

Originally Posted by 212Export

Serious rebalancing the destroyed balance sheets of whole society's take normally longer than 1 year. Just my 2 cents.

You would certainly think so. Nonetheless, the positive news is picking up momentum and it is a self-fulfilling prophecy, just like the crisis itself. I do think that if the wheels DO come off again in the next couple of months, the hit will be much harder than before, and that could affect the prices of exotics seriously.

For the moment, I'm cautiously starting to believe the positive news will initiate a turn-around. Much to my surprise - I would have expected more turmoil this summer. Is it the quiet before the storm? Very difficult to say.


Onno

[212Export]

Originally Posted by JazzyO

You would certainly think so. Nonetheless, the positive news is picking up momentum and it is a self-fulfilling prophecy, just like the crisis itself. I do think that if the wheels DO come off again in the next couple of months, the hit will be much harder than before, and that could affect the prices of exotics seriously.

For the moment, I'm cautiously starting to believe the positive news will initiate a turn-around. Much to my surprise - I would have expected more turmoil this summer. Is it the quiet before the storm? Very difficult to say.


Onno

Very much appreciate your thoughts. Its really difficult to say. "Self-fullfilling prophecys" surely will speed developments up but will not turn around the "basic economics". After all the crisis developed out of societies with debt burdens, may they be either corporate based, private sector based or governement based. Unfortunatelly, actually this time it seems all three sectors together are overburdened by debt. All three together will run to cut debt nominally as well as relative (as there is not to much prospect for fast growth, immediatelly) over time. This decreases in potential money spending for real new innovations (a most important catalysator for future growth) and spending in general.

Additionally as a matter of fact, the tax burden for top personal incomes have been raised in many european countries. (i.e.UK from 42% to 50%).

So more and more disposable money is channeled to the worst money manager in history, the governement/state. Looking back in history, such phases of relativelly high allocation of money towards "governemental-decision-bases" have seldom really "fired" the economic growth rockets of this and the last century anywhere.

May I suggest to watch the (imo) very interesting similarities of the inaugurational adresses/speeches of Barack Obama in 2009:

http://www.youtube.com/watch?v=VjnygQ02aW4&hl=de


and Franklin D. Roosevelt in 1933

http://www.youtube.com/watch?v=MX_v0...eature=related

Hopefully I'm totally wrong but there is no guarantee that we will not have a new (maybe not so severe) downturn again in markets. Once this occurs (the breakdown of the dollar could be such a catalyst), panic (also with collectables) could spread again.

On a side note the inaugural speech of Ronald Reagan is interesting to listen as well. (Just my 2cents)

[JazzyO]

Wow - have we gone off-topic.... But thanks, 212, I find this absolutely fascinating. I'll see if the internet connection is quick enough tonight to watch YouTube.

Very true insight about the increasing taxes - a viewpoint I had not considered before.


Onno

[JTNY]

"Self-fullfilling prophecys" surely will speed developments up but will not turn around the "basic economics".

My belief as well. Even in a rebound most will remain less wealthy and less sure of their economic futures. The return to Gatsby like spending on luxury items is unlikely anytime soon in my opinion.

[Boxer]

Originally Posted by 212Export

The markets positive tone is a "reaction", naturally and imo just that. I have serious doubts about the rosy scenarios of "back to normal". Serious rebalancing the destroyed balance sheets of whole society's take normally longer than 1 year. Just my 2 cents.

On a rational side, fully agree, it will take several years to rebuild a solid financial base. However on the emotional side, people seem to be less negative and the general feeling is the worst is now behind us. The net on this is prices have stabilzed but the market is slow with those that do not have to sell hanging on to their cars.

[colonel1961]

Originally Posted by Boxer

On a rational side, fully agree, it will take several years to rebuild a solid financial base. However on the emotional side, people seem to be less negative and the general feeling is the worst is now behind us. The net on this is prices have stabilzed but the market is slow with those that do not have to sell hanging on to their cars.

Concur.

[Redhead Seeker]

I would like to know "Where" this car would be given a 100 points under the hood with An "Energizer" battery and "Fram" oil filters?. I guess Mike's judges?, are a very forgiving bunch......Mark.

[colonel1961]

Originally Posted by Redhead Seeker

I would like to know "Where" this car would be given a 100 points under the hood with An "Energizer" battery and "Fram" oil filters?. I guess Mike's judges?, are a very forgiving bunch......Mark.

The vintage vehicles are not my niche (other than loving them!) - which battery and oil filters would be period correct? Just wondering...

[Granucci]

Originally Posted by Redhead Seeker

I would like to know "Where" this car would be given a 100 points under the hood with An "Energizer" battery and "Fram" oil filters?. I guess Mike's judges?, are a very forgiving bunch......Mark.

expenses/replaced items like fluids, and filters are not required in the Ferrari sheets. There are a lot of items that are waived in older less than garage-queen/showroom ready presentations: Judges commonly waive the filters, PAINT unless non period correct changes, oils etc.

Not the same rules as in, say other venues.

To quote a juge of 3x8's and a well known Mech in the area: "Ferrari club system emphasizes preservation and use. Perfect hangar queens are not what is being encouraged."

http://www.ferrariclubofamerica.org/...guidelines.cfm

[Mike430]

A price reduction has been authorized for this 275GTS. Now asking $449,500.