Amelia Island 275's - Ferrari Life
 
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post #1 of 10 Old 02-25-2010, 11:17 PM Thread Starter
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Amelia Island 275's

Auction season is starting again. There are two gorgeous 275's on the block at Amelia Island.

http://www.rmauctions.com/FeatureCar...M10&CarID=r150
http://www.rmauctions.com/FeatureCar...M10&CarID=r118

I was thinking that the estimates for these cars are rather high. I mean, the yellow car looks spectacular but it's "just" a regular 4-cam. And 1.4 - 1.7 million for the alloy car also seems high to me.

Any thoughts? Is the classic Ferrari market strengthening again?


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post #2 of 10 Old 02-26-2010, 12:55 AM
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Originally Posted by JazzyO View Post
Auction season is starting again. There are two gorgeous 275's on the block at Amelia Island.

http://www.rmauctions.com/FeatureCar...M10&CarID=r150
http://www.rmauctions.com/FeatureCar...M10&CarID=r118

I was thinking that the estimates for these cars are rather high. I mean, the yellow car looks spectacular but it's "just" a regular 4-cam. And 1.4 - 1.7 million for the alloy car also seems high to me.

Any thoughts? Is the classic Ferrari market strengthening again?


Onno

The first 275 GTB/4 steel version is probably the very best in existence, multiple award winner etc. At the crest of the hype, "normal"-condition 275 GTB/4's sold for 1.2-1.4 Mio. US, these days average 275 GTB's sell for (if they sell at all!) around 750 - 900 US$, clearly a "platinum version" would demand some premium.
The alloy 275 GTB/4 is about one of the rarest species in the 275 field you may get. As the competition 275 series I and II are all 2 cams, the alloy 4-cam version was always rare and demanding and hardly ever come to public market.

But generally Onno, I'm still very negative on the general mid-tier classic Ferrari market and expect the worst still to come. Just my 2 cents.
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post #3 of 10 Old 02-26-2010, 02:38 AM Thread Starter
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I understand that these prices are a bit below the hype, but I think they're still a bit too high for this market. Like you say, they do not sell quickly, at the moment. It will be interesting to see if they get close to their estimates, I think they may remain $100k and $200k below the underestimate, respectively.



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post #4 of 10 Old 02-26-2010, 03:58 AM
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Originally Posted by JazzyO View Post
I understand that these prices are a bit below the hype, but I think they're still a bit too high for this market. Like you say, they do not sell quickly, at the moment. It will be interesting to see if they get close to their estimates, I think they may remain $100k and $200k below the underestimate, respectively.
Oh, I agree, it will be interesting although I think that such exquisit and rare examples may not be a very good representation for the "price-point accumulation" of the general breed.
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post #5 of 10 Old 02-26-2010, 05:21 AM
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I understand that these prices are a bit below the hype, but I think they're still a bit too high for this market. Like you say, they do not sell quickly, at the moment. It will be interesting to see if they get close to their estimates, I think they may remain $100k and $200k below the underestimate, respectively.
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post #6 of 10 Old 02-26-2010, 06:02 AM Thread Starter
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Oh, I agree, it will be interesting although I think that such exquisit and rare examples may not be a very good representation for the "price-point accumulation" of the general breed.
Good point, of course. I think it is a problem with the 275 that there are so many versions that even for semi-knowledgeable people it's very hard to keep them apart and judge the price correctly.


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post #7 of 10 Old 02-26-2010, 06:26 AM
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Good point, of course. I think it is a problem with the 275 that there are so many versions that even for semi-knowledgeable people it's very hard to keep them apart and judge the price correctly.


Onno
Yes, very many versions: GTS GTB short nose, GTB long nose, long nose alloy, GTB/C's 2 series, GTB/4, GTB/4 alloy. The GTB shape is one of the most classical and beautiful one. But overall, they build around 450 short and long noses 2 cams and 330 GTB/4's So more than 800 of that shape (including the competition and GTB/4 alloys). For this sum of "shapes", a price of partially more than a million USD on the high of the frenzy to me seemed stretched, especially if you compare, lets say the price of the Daytona with about 1'300 "shapes" builded.
Interestingly, this point to me is an argument why the beautiful 365BB never appreciated so much as one would expect (270 build), as the same "shape" can be found on 512BB's BBi's. All in all about 2'500. Double the Daytona, probably half the price.
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post #8 of 10 Old 02-26-2010, 06:28 AM
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I correct, 370, not 270 365 BB build. Typing error, sorry.
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post #9 of 10 Old 02-26-2010, 09:36 AM Thread Starter
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Build numbers are not the only reason for a certain value, of course. The 330/365GTC/S have similar total numbers built as the 275 but are in a very different bracket. I do think that the 512BB(i)'s have kept the 365BB (387 built) down further, but even if they had not been built I don't think it would be more valuable than the Daytona even with a lot less built. It's got a lot more to do with the market. As people get older they start buying the toys they dreamt of in their youth and in the past the Boxer was a bit too modern. But I do think that the Boxer will start to become more recognised. There are rumours that they may overtake the Daytona - I'm not so sure about that, but what I do think is that the Daytona is more appealing to a slightly older audience than the Boxer. A lot of friends my age (late 30ies, early 40ies) prefer the Boxer. And even if you include the 512s then the production numbers are low compared to later models like the Testarossa, 550 and so on. It's going to be very interesting to see where this is going to go.


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post #10 of 10 Old 02-26-2010, 11:27 AM
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I hope to be down there for this. I shall report back if it all comes together.



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