288 GTO: Search Completed - Page 5 - Ferrari Life
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post #81 of 2970 Old 12-24-2011, 02:21 AM
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2 Ferrari 288 for sale on JamesList

Hey Jimmy,
Not sure if these were already mentioned, but just in case...

Jeroen

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post #82 of 2970 Old 12-24-2011, 09:43 AM
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post #83 of 2970 Old 12-24-2011, 09:57 AM
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Is 750k Euro a realistic price?
IIRC, one went for ~$800k USD at the Gooding auction in Pebble Beach this August. So, yeah, it's probably on the right "order of magnitude".
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post #84 of 2970 Old 12-24-2011, 11:10 AM
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wouldn't a pebble auction be the top of the market? this one would be 20%+ more.



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post #85 of 2970 Old 12-24-2011, 11:33 AM
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wouldn't a pebble auction be the top of the market? this one would be 20%+ more.
IMHO, not really - private sales that never get recorded often go for much more than auctions, especially when you are talking about something so rare.

For instance, the TR that went for a hammered $14.9m (I was there, it was cool) at the same auction - all the hullabaloo about it being a record sale is true but only for an auction. Privately, cars have traded hands for far more...we've all heard about GTOs that have gone for $20-30m+.

It's just another data point if you ask me.
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post #86 of 2970 Old 12-24-2011, 02:14 PM
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wouldn't a pebble auction be the top of the market? this one would be 20%+ more.

Best of best went for 1.4 Mio $ privately.

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post #87 of 2970 Old 12-24-2011, 02:56 PM Thread Starter
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Is 750k Euro a realistic price?
Price is subjective and hard to say what is a fair gound. It is true that 288 may be rare and that recently the market has been like climbing the Alps. Nevertheless, currency exchange rates and values of currencies is a factor to take into consideration. US$ has lost value considerably, thus the recent increase in $ terms may not be true increase in market. So has the UK pounds. ON the other hand, JP yen is valued way too high relaitvely.
Another factor is the low mileage. 288 being 25/26 years old, undriven, stored museum queens may not be the best examples even tho mileage may be super low. Yet, these are the cars that market and the owners toute as precious and command crazy prices.
Yet another factor to consider, being the nature of 288, I have no doubt that quite a few examples of 288 experienced accidents and crashes/ repaired ...not being exposed and sold at high prices. There are couple like that right now.
Therefore, the asking price of 750k euro is a bit too steep IMO.

Personally, my purpose to acquire a car is to drive, not let it undriven. From this stance, the low mileage example is not the car for me, besdies the price. I would rather find one that has substantial mileage clocked, but well kept 288 than a garage/museum queen with only few hundred or thousand miles. My image of price falls in the range of low to mid 500k euro and the equivalent rates in US$ and JP yen. w/ smiles Jimmy
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post #88 of 2970 Old 12-25-2011, 02:34 AM
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Originally Posted by Jimmy Chen Shiba DDS View Post
Price is subjective and hard to say what is a fair gound. It is true that 288 may be rare and that recently the market has been like climbing the Alps. Nevertheless, currency exchange rates and values of currencies is a factor to take into consideration. US$ has lost value considerably, thus the recent increase in $ terms may not be true increase in market. So has the UK pounds. ON the other hand, JP yen is valued way too high relaitvely.
Another factor is the low mileage. 288 being 25/26 years old, undriven, stored museum queens may not be the best examples even tho mileage may be super low. Yet, these are the cars that market and the owners toute as precious and command crazy prices.
Yet another factor to consider, being the nature of 288, I have no doubt that quite a few examples of 288 experienced accidents and crashes/ repaired ...not being exposed and sold at high prices. There are couple like that right now.
Therefore, the asking price of 750k euro is a bit too steep IMO.

Personally, my purpose to acquire a car is to drive, not let it undriven. From this stance, the low mileage example is not the car for me, besdies the price. I would rather find one that has substantial mileage clocked, but well kept 288 than a garage/museum queen with only few hundred or thousand miles. My image of price falls in the range of low to mid 500k euro and the equivalent rates in US$ and JP yen. w/ smiles Jimmy
+1. A great driver will be best in price/what you get equation. The strong Yen is on the other side a good argument to use it now as a paying currency.

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post #89 of 2970 Old 12-25-2011, 06:26 AM Thread Starter
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+1. A great driver will be best in price/what you get equation. The strong Yen is on the other side a good argument to use it now as a paying currency.
Indeed, 212. It is better than the other way around. w/ smiles Jimmy

PS. I noticed the new avatar, 212. Must be nice sitting there.
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post #90 of 2970 Old 12-25-2011, 09:45 AM
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Indeed, 212. It is better than the other way around. w/ smiles Jimmy

PS. I noticed the new avatar, 212. Must be nice sitting there.
IT IS.......

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post #91 of 2970 Old 12-30-2011, 12:54 PM
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Hi Jimmy. Next time you are in Hong Kong let me know and I can share my ownership experience with you. I have had my car for more than 6 years and it has brought me nothing but happiness. I spent 2 years looking for my car and eventually found what I was looking for but unfortunately not at the price I wanted at the time. Best decision I made was to pay up for the right car which I bought off market with only a few hours to decide.
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post #92 of 2970 Old 12-30-2011, 01:16 PM
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It is interesting that several 288 GTO's have come into HK recently. There was a time when mine was the only one here. Then SPS brought the low mileage car from Japan which subsequently sold to the US. Most recent buyer in HK is the pop singer who likes racing. He bought his car in Germany. He was following his friend the clothing king who also has one in HK.
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post #93 of 2970 Old 12-30-2011, 06:51 PM Thread Starter
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Hello DM18. Thank You for the offer. Not very often you get the opportunity to discuss ownership of rare cars like 288 with someone who owns one.

Yes, I have heard from my close friend that quite a number of 288 has headed out from Japan to Asia (Hong Kong inclusive).

As you may know very well, 288 prices have seen steep rise lately. Not easy to find one. w/ smiles Jimmy
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post #94 of 2970 Old 12-30-2011, 07:45 PM
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DM- Nice to see you over here.

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post #95 of 2970 Old 12-30-2011, 07:48 PM
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Jimmy,
I'm not sure if it has been asked yet, but what are your criteria for a 288? As I understand it, most were spec'd with very similar configurations. I am sure price is a factor, but are there certain perimeters that you are looking for?
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post #96 of 2970 Old 12-30-2011, 08:25 PM Thread Starter
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Jimmy,
I'm not sure if it has been asked yet, but what are your criteria for a 288? As I understand it, most were spec'd with very similar configurations. I am sure price is a factor, but are there certain perimeters that you are looking for?
LC, to be honest, I do not think I really have things sorted. Price is a big factor. Some of the ones sourced looked nice but were informed to stay away from due to issues. Seems like sellers pride in low, low mileage as a big factor for asking steep prices. But, 288 is a quarter century old car. Even undriven as garage queen, there would be many issues to deal with once it gets driven,...unless owners have ways of keeping the condition meticulously.

I suppose, if I have a choice, I would take one that has been driven more or less than the other way around. Having never seen one with naked eyes nor driven one, it is hard to say at this point. w/ smiles Jimmy
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post #97 of 2970 Old 12-31-2011, 01:39 AM
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Originally Posted by Jimmy Chen Shiba DDS View Post
LC, to be honest, I do not think I really have things sorted. Price is a big factor. Some of the ones sourced looked nice but were informed to stay away from due to issues. Seems like sellers pride in low, low mileage as a big factor for asking steep prices. But, 288 is a quarter century old car. Even undriven as garage queen, there would be many issues to deal with once it gets driven,...unless owners have ways of keeping the condition meticulously.

I suppose, if I have a choice, I would take one that has been driven more or less than the other way around. Having never seen one with naked eyes nor driven one, it is hard to say at this point. w/ smiles Jimmy

Jimmy, maybe you should really hit a plane a go and see one in real, drive one in real and then reflect from a point of this experience. There is no beter substitute than this. ...or should I go for you....?

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post #98 of 2970 Old 12-31-2011, 02:58 AM
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...or should I go for you....?
212, you'll need some one to take notes and photos, just let me know when and where....

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post #99 of 2970 Old 12-31-2011, 03:42 AM Thread Starter
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212 (and Barry),...I totally agree with your advice. The problem may be that usually when I see in flesh, I am a dead duck, meaning, I fall for it.

It would be most befitting if you, 212, using your vast connections there, test drive one in my place. You would be a far superior test driver than an average joe like myself. w/ smiles Jimmy
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post #100 of 2970 Old 12-31-2011, 03:57 AM
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212 (and Barry),...I totally agree with your advice. The problem may be that usually when I see in flesh, I am a dead duck, meaning, I fall for it.
I know that feeling Jimmy. Happens to me all the time. I want the first one I see (not just Ferraris!).

Maybe if you could see, sit in, take a drive in (even as a passenger) someone else's 288, it would allow you the comfort of getting a feel for the 288, without the pressure of having to think about actually buying that particular one.

A trip to HK might be in order?

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