Ferrari Mailing List: Re: Holy Cow! and Clyde's help

[Luke Graves (buyer1]

Interesting, but, I disagree.  I am at the age past investing, but, I have advised my sons in Real Estate and quality.  It's a simply a supply and demand deal.  Older Ferraris in good shape; the Asian market alone could eat them up.  Purdy Shotguns, Parkers (I have one) diamonds, etc.  Ocean front, waterfront Properties, they never go down.  Invest in Quality guys. 

 

Luke

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From: Ferrari [mailto:ferrari-bounces+buyer1=airmail.net [at] ferrarilist.com] On Behalf Of Dennis Burleson
Sent: Thursday, December 6, 2018 7:52 PM
To: Col Luke Graves
Cc: The FerrariList
Subject: [Ferrari] Holy Cow! and Clyde's help

True, Clyde was indispensable in his help with the sell of my vehicle. It was/is a very beautiful car and I hated to sell, but health and financial issues dictated otherwise.

A 1985 308, I spent over a year and over $18K in parts and materials, basically taking apart and reassembling the car. New leather upholstery (original Connolly hides), engine out service, new suspension bushings, retrofit 134 ac, etc. Did it all myself. I reupholstered the seats in the "Daytona" style.

Health problems earlier this year initiated the decision to sell. I didn't want to deal with tire kickers and hagglers, so Clyde was the go-to man. I knew from previous experience that he could provide expedient action. He did not disappoint. Two phone calls and 48 hours later, a car hauler and three individuals were at my shop.

I think, as best as I know, that the car sold for VERY CLOSE to the sticker price for a 308 in 1985. Keep in mind that the car; 1) had 54,000 miles, 2) DID NOT have the original window sticker, had spotty service records from the early 90s, and 3) DID NOT have the original jack or tool kit (I made these myself). Also, as was pointed out to me, that I WAS NOT a factory certified Ferrari technician (although I am a retired ASE certified Master Technician and former master tech with two domestic car lines). Also, the paint was starting to show its age.

As the man who purchased the car from me said, "The 308s that are worth $100,000 now will still be worth whatever the equivalent of $100,000 is in the future." In other words, the cars (read: any Ferrari) with low miles, belt service done yesterday, all documentation, and with jack and tool kit will be the ones that bring the big bucks. And by his reckoning, that means the value will increase based on inflation (and maybe some attrition), as is the case now.  

Are 308s worth $100,000??? Clyde probably wouldn't want to drop that kind of money on one, but as was pointed out to me, there are a lot of 30 somethings out there that want one in the year they were born. Now we're back to the Magnum PI resurgence. Kids that remember seeing the show who love the car and want to own one.

Unlike Brian, I am not a Ferrari expert, nor an expert of any type. But I have a 22 year old son, and he tells me that none of his friends would give two dumps about "old Ferraris." They don't really care about cars at all. They just want surface transportation. In addition, Brian has my deepest respect, as I have monitored this list for over 12 years and have read everything he has ever posted. I hold his opinion in high regard, especially anything concerning Ferrari.

So, like Clyde, I feel that the "old car" market for ordinary people is dying. Not just Ferrari cars, but the muscle cars, and the other cars, whatever you want to drag into the conversation. A guy I know has some Model A and Model T Fords that have lost value because the market is dying off. Literally. I'm not dissing on car collectors, these will be the people that will continue to pay money for "collectible cars." Cars that my progeny will look at in museums since fossil fuels will probably be illegal to burn without permits. Then they will get into their autonomous vehicles or board mass transit systems and go home.

Pardon my post, but Clyde mentioned me and my transaction. Thanks again for your help, Clyde You are top shelf and top gun.

DB