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Discussion Starter #1
Dear Group,
I would appreciate some help and suggestions here. My insurance underwriter is insisting on comps for my newly acquired 1974 365 BB. I paid 179K USD a few months ago for a very nice car. Can you direct me to or send me sold or asking comparables in Europe, Japan, or the United States. Your help is greatly needed.
Sincerely,
Alex365
 

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Great looking car. Congrats. Did you get it from Jim Lyons of the Sports Car Company? Email Gene at [email protected]. He purchased his blue 1974 365BB for just under $200K two years ago. PM me and I will get you his number.
 

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Hi Alex, congrats on a fabulous looking Boxer. Is this #18133? I know that was for sale last summer. Or maybe 18187, which was for sale at Bill Noon's shop. I'd appreciate it if you can PM me the serial number for my registry, as one 365 owner to the next (mine is #17977). I'll send you any information I have in return.

Current pricing is as follows for a great example:

UK: £80k. EU: €110k. US: $180k.

To give you comparisons is difficult as very few 365's have sold recently. Several have failed to reach their reserve at auction. The RM Auction at Maranello sold one for €125k, but this was last May. It was equivalent to around $185k at the time, and you can find the result on the RM website. I bought my own last September for £80k, which was around $150k at the time but UK pricing has been low and worsening quickly. There are several for sale at the moment which you could take home for £60k to £65k, which nowadays amounts to less than $100k.

One thing that I've learnt recently is that you cannot compare the American market to any other, when it comes to 365 Boxers. They seem to be holding their value much more in the US, where very few are on the market since none of them were ever imported officially. And obviously the dollar has strengthened, which doesn't help.

Perhaps the best thing you can do is ask someone like Michael Sheehan to do a valuation for you. He should have more than enough clout to convince your insurer. I'm happy, by the way, to send you my bill of sale if you think that helps (although this requires some organisation on my part since I'm in Africa and my paperwork is in England).

Cheers,


Onno



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Discussion Starter #4
Hello Onno,
Thank you for your help and with all the research that you have acquired and shared.
Yes, the SN of my 365 is 18187. I purchased it from Symbolic but through Bobileff Motorcars in San Diego. The salesman at Symbolic was quite difficult and it took 4-6 weeks to finally negotiate to details of the deal. Currently, the insurance underwriter is being difficult and is unaware to this vintage Ferrari market and is apprehensive with a value between 180-200K USD. As you have stated, the market in the US is demanding more money for these cars. As I recall from my last FML is are none currently for sale there.

Is it possible that you can send me the particulars of your 365 sale, ie Where, when, photo, and sale price with slight description along with the RM auction sale info. I don't think I need copies of your bill of sale. I may just pass that information along or have a vintage dealer friend of my write up the information and pass it along to the underwriter. That should satisfy him.

On a separate note, the Ferrari drive you guys in Europe are planning in June sounds great. Wish I could make it. Perhaps the following year.
Yours,
Alex365
 

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You have a PM, Alex.

Yes, this year's FLED is looking to be really good. I'm looking forward to hearing that flat-12 echoing in the Alpine valleys! Hope you can make it next year.

FWIW - my Boxer is insured for an annual fee of $1000 which includes 7,000 miles of driving. For that, I did have to install a tracker device and it's securely stored at a specialist.

BTW - congrats again. I've got the photo's from the Symbolic website and it really looks like a spectacular example. I like the little Ferrari case that was shown, looks to be from the '70ies but I haven't seen one before.


Onno



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Hello Onno,
Thank you for your help and with all the research that you have acquired and shared.
Yes, the SN of my 365 is 18187. I purchased it from Symbolic but through Bobileff Motorcars in San Diego. The salesman at Symbolic was quite difficult and it took 4-6 weeks to finally negotiate to details of the deal. Currently, the insurance underwriter is being difficult and is unaware to this vintage Ferrari market and is apprehensive with a value between 180-200K USD. As you have stated, the market in the US is demanding more money for these cars. As I recall from my last FML is are none currently for sale there.

Is it possible that you can send me the particulars of your 365 sale, ie Where, when, photo, and sale price with slight description along with the RM auction sale info. I don't think I need copies of your bill of sale. I may just pass that information along or have a vintage dealer friend of my write up the information and pass it along to the underwriter. That should satisfy him.

On a separate note, the Ferrari drive you guys in Europe are planning in June sounds great. Wish I could make it. Perhaps the following year.
Yours,
Alex365
It was a pleasure talking to you. Most of my cars are insured for about $700.00 per year with a maximum of 5K miles through Fireman`s Fund. Call me and I will hook you up with my agent so you can do some comparison shopping. My total auto insurance premium is over $30K, but that includes all of my exotics, boats, jet skis, and daily drivers.
 
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