Ferrari which rusted in a barn for decades sells for 100,000 - Ferrari Life
 
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post #1 of 17 Old 03-05-2012, 10:44 AM Thread Starter
 
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Ferrari which rusted in a barn for decades sells for 100,000

This Ferrari lay rusting in a barn for more than 35 years - but has just been snapped up for 100,000.

Rob Hubbard, a senior specialist at Bonhams auctioneers, said: 'This well-preserved 'barn find' represents a wonderful opportunity to acquire an original and untouched early Ferrari 250GTE, ripe for sympathetic restoration by a fortunate new owner'

Ferrari which rusted in a barn for decades sells for 100,000 - Telegraph
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post #2 of 17 Old 03-05-2012, 11:02 AM
 
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Wow. It's so rare for these "barn finds" to happen anymore, let alone of that magnitude. Thanks for sharing!


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post #3 of 17 Old 03-05-2012, 05:42 PM
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post #4 of 17 Old 03-06-2012, 01:14 AM
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So did it go to Chris Evans? Someone said it was mentioned on his radio show this morning?
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post #5 of 17 Old 03-06-2012, 02:02 AM
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Quote:
Originally Posted by wetpet View Post
wow, that will make a great GTO!
It is very unlikely it will, because the buyer could have snapped up something much cheaper to make a GTO out of. This is a rare barn find with good providence, an excellent base to make a spectacular car out of.

Building a GTO from it will be more expensive and make it less special.


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post #6 of 17 Old 03-06-2012, 04:15 AM
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Very cool ... one more on it's way back to the open roads.
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post #7 of 17 Old 03-06-2012, 04:20 AM
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It wasn't that long ago a 250GTE in need of resto could barely fetch $50k. Goes to show how desirable old V12 Ferraris under $300k are!


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post #8 of 17 Old 03-06-2012, 11:05 AM
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Will there ever be a day when we see a 250 gte that has been rebodied into a gto rep etc being reunited with its original bodywork? I mean with prices going the way they are it may make financial sense? Just a thought.
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post #9 of 17 Old 03-06-2012, 11:17 AM
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Is it me or should that be a tad high for an unrestored GTE: I'm thinking more like $60k max.

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post #10 of 17 Old 03-11-2012, 11:46 AM
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Quote:
Originally Posted by Granucci View Post
Is it me or should that be a tad high for an unrestored GTE: I'm thinking more like $60k max.
The market spoke and the writing is on the wall. This was worth it as it was virtually untouched since new, a complete original frozen through time. And that more of them are disappearing and butchered, the road to extinction of the GTE is inevitable.


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post #11 of 17 Old 03-11-2012, 01:28 PM
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Quote:
Originally Posted by Granucci View Post
Is it me or should that be a tad high for an unrestored GTE: I'm thinking more like $60k max.
Rik, Untouched originals seem to be in vogue these days, hence command higher prices than market predictions would indicate.

Auction results going back a year have many examples, not just Ferraris, where this was the case.

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post #12 of 17 Old 03-11-2012, 03:03 PM
 
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It sold for way too much. I think in this particular transaction the patina and story played a large role in driving the price up.

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post #13 of 17 Old 03-11-2012, 04:40 PM
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I agree with Michael.

BTW, the rumour is that it was bought by Chris Evans (of recent purchase fame; ex-Matsuda 250GTO and the Coburn 250 California). I have no way of substantiating this rumour. But if it is true I pray it will not be restored to white with blue interior like most of his other Ferraris....


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post #14 of 17 Old 03-11-2012, 05:26 PM
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I think it's cool that these cars still turn up.

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post #15 of 17 Old 03-12-2012, 12:22 PM
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Prices for 250 gte's have been on the up for some time. Jay Kay bought one last year for close to 200k euros. There are so very few left, supply and demand etc!
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post #16 of 17 Old 03-12-2012, 02:43 PM
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Affirmative, they built 950 of them, way more than any other 250, but the herd has been considerably thinned in the interim. They are very attractive cars, so glad they are finally seeing the love they deserve.

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post #17 of 17 Old 03-13-2012, 07:24 AM
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I agree, I think that these are great cars and I would HOPE that it gets a real makeover back to its original specs or at least maintained as it is but returned to running condition.



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