412 Fair Value to Purchase? - Ferrari Life
 
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post #1 of 5 Old 05-04-2015, 12:47 PM Thread Starter
 
Join Date: Dec 2014
Location: Cars located in Alberta
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412 Fair Value to Purchase?

Hello All,

At the Toronto Spring Classic Car Auction this past weekend, there was a 1986 Ferrari 412 that did not sell at the high bid of $36,000 CAD (#30,000 USD). Although I was not able to attend the auction, I did follow-up by speaking with the auction house and was able to get the following information.

1. 78,000 miles
2. no service records in the file, but would ask the owner
3. US car
4. private seller (not a dealer)
5. probably the original paint (looks its age)
6. probably the original interior (looks its age)
7. transmission type: unknown, will confirm later

At 78,000 miles and without service records, I am leery to buy this car without knowing its history, which is probably why the high bid was only $36,000 CAD ($30,000 USD). The auction company will ask the owner if they have service records available, although you would think they would have them already made them available at the auction, which raises more suspicions.

Since the owner only provided one photo for the auction's web site (see below), although they asked for more photos, the auction company will take new photos and send them to me. I'll post them here once I received them.

Regards,
Gianni
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1999 Ferrari 550 Maranello FHP; 1999 Ferrari 456M GT; 1996 Buick Riviera; 2008 Bentley GT; 2010 Lotus Evora; 1969 Alfa Romeo 1750 GTV;
Past cars: 1965 Corvette Stingray Roadster; 1974 Corvette Stingray.
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post #2 of 5 Old 05-05-2015, 08:43 AM
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Location: Saratoga Springs NY
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Quote:
Originally Posted by Gianni View Post
Hello All,

At the Toronto Spring Classic Car Auction this past weekend, there was a 1986 Ferrari 412 that did not sell at the high bid of $36,000 CAD (#30,000 USD). Although I was not able to attend the auction, I did follow-up by speaking with the auction house and was able to get the following information.

1. 78,000 miles
2. no service records in the file, but would ask the owner
3. US car
4. private seller (not a dealer)
5. probably the original paint (looks its age)
6. probably the original interior (looks its age)
7. transmission type: unknown, will confirm later

At 78,000 miles and without service records, I am leery to buy this car without knowing its history, which is probably why the high bid was only $36,000 CAD ($30,000 USD). The auction company will ask the owner if they have service records available, although you would think they would have them already made them available at the auction, which raises more suspicions.

Since the owner only provided one photo for the auction's web site (see below), although they asked for more photos, the auction company will take new photos and send them to me. I'll post them here once I received them.

Regards,
Gianni
Gianni, attention! take care. First, ascertain if it is a five-speed manual or automatic transmission car. The automatics, in my opinion, are sluggish cars to drive anywhere other than cruising on a thruway./freeway, really no fun.

That said, if these cars have been regularly and correctly serviced and not abused, they are bulletproof, can easily run 100,000 miles and more. If not the cost to return the car to usable condition can be a great deal more than cost of acquisition.

I have the impression that IO've seen this 412 offered before, last time in western Canada, Vancouver I recall.

Seth
575M F1, Maserati Spyder, Cadillac STS-V & CTS
past: 330/365GTC speciale, F355b, 412GT, 400iA, 308GT4 2+2, 330GT 2+2, Porsche 356b Super 90, BMW 1800ti

what do I know? I drive blue Ferraris
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post #3 of 5 Old 05-05-2015, 09:00 AM Thread Starter
 
Join Date: Dec 2014
Location: Cars located in Alberta
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Quote:
Originally Posted by intrepid View Post
Gianni, attention! take care. First, ascertain if it is a five-speed manual or automatic transmission car. The automatics, in my opinion, are sluggish cars to drive anywhere other than cruising on a thruway./freeway, really no fun.

That said, if these cars have been regularly and correctly serviced and not abused, they are bulletproof, can easily run 100,000 miles and more. If not the cost to return the car to usable condition can be a great deal more than cost of acquisition.

I have the impression that IO've seen this 412 offered before, last time in western Canada, Vancouver I recall.
Quote:
Originally Posted by intrepid View Post
Gianni, attention! take care. First, ascertain if it is a five-speed manual or automatic transmission car. The automatics, in my opinion, are sluggish cars to drive anywhere other than cruising on a thruway./freeway, really no fun.

That said, if these cars have been regularly and correctly serviced and not abused, they are bulletproof, can easily run 100,000 miles and more. If not the cost to return the car to usable condition can be a great deal more than cost of acquisition.

I have the impression that IO've seen this 412 offered before, last time in western Canada, Vancouver I recall.
Hello Seth,

Thanks for your advice. I suspect it's an automatic, which is not on my buyer's list, and I think I've tracked it down to this AutoTrader ad:

1986 Ferrari 412 WILL BE SOLD AT THE TORONTO SPRING CLASSIC CAR AUC for $9,999,999 in SAULT STE MARIE | autoTRADER.ca

It certainly doesn't look like it's been well maintained. Since there were no service records submitted for the auction and the bidding stopped at $30k USD, it's more evidence that this is not the car for me.

Thanks again,
Gianni

1999 Ferrari 550 Maranello FHP; 1999 Ferrari 456M GT; 1996 Buick Riviera; 2008 Bentley GT; 2010 Lotus Evora; 1969 Alfa Romeo 1750 GTV;
Past cars: 1965 Corvette Stingray Roadster; 1974 Corvette Stingray.
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post #4 of 5 Old 05-05-2015, 11:21 AM
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That three speed automatic is really ill-matched to the 400-412 series' V12 torque curves unless someone has modded the automatic.

Taz
Terry Phillips

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post #5 of 5 Old 05-09-2015, 08:50 AM Thread Starter
 
Join Date: Dec 2014
Location: Cars located in Alberta
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Quote:
Originally Posted by tazandjan View Post
That three speed automatic is really ill-matched to the 400-412 series' V12 torque curves unless someone has modded the automatic.
Hello Terry and Seth,

I can confirm that this car has the 3-speed automatic gearbox and likewise is not on my buyer's list.

Thanks again for your input.

Regards,
Gianni

1999 Ferrari 550 Maranello FHP; 1999 Ferrari 456M GT; 1996 Buick Riviera; 2008 Bentley GT; 2010 Lotus Evora; 1969 Alfa Romeo 1750 GTV;
Past cars: 1965 Corvette Stingray Roadster; 1974 Corvette Stingray.
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