250GTE S/N 3045 on FML

400iman · Post by **400iman** » Mon Apr 26, 2004 9:23 pm

Hello all,

has anyone on the list gone to check out the 250 GTE advertised in the current Ferrari Market Letter? I just got off the phone with the guy. Seemed like a nice enough guy. Car has a 20 yo DIY restoration, and been in storage for the last 5 yrs. Just wondering if it is worth pursuing? I'm out here in AZ and don't have the time to fly out myself. Any ideas on a good PPI guy in/near Stamford, CT?

Best regards,

Udo

JAshburne · Post by **JAshburne** » Mon Apr 26, 2004 9:53 pm

The 323 exchange is next door in Stamford. If I can get some time this weekend between kids' softball games, toy sailboat regattas etc. I'll try and take a look to report back.

The dealer nearby is Miller Motorcars in Greenwich, CT and they could do a PPI.

John

Yale · Post by **Yale** » Mon Apr 26, 2004 10:26 pm

Why don't you just ask Tom to ask Francois to do it? Dealers are not always that up on the older cars. Yale

Post by **tyang** » Mon Apr 26, 2004 10:42 pm

If anyone is seriously interested, I'm sure Francois would not mind doing a PPI. He charges his usual hourly rate ($75/hr unless it's gone up), and will probably end up costing the same as anyone else, only I can't think of anyone I would trust more!

Tom

JAshburne · Post by **JAshburne** » Tue Apr 27, 2004 1:10 am

Certainly Francois would be an excellent, if not superior, choice as well. Not to mention at a lower hourly rate, I'm sure.

John

horner · Post by **horner** » Tue Apr 27, 2004 10:25 am

O.K., since it's near me and I feel obligated to the Forum, I spoke w/ Tony, the owner just now. He is in Stamford, CT. Car is 2 towns over in Port Chester, NY. Car not driven in 5 years. Doesn't want to sell, but can't afford garage rent. Hmmm. Tony works in the Greenwich, CT boatyard. He did the resto himself. He said that he spent ~$45m. Would rather have a PPI done after he has changed the old gasoline out and redone some other fluids and "a few things".

If Francois cannot do the PPI, I can help anyone who is interested arrange to have Performance Outfitters in Stamford, CT do it. They are the ones who do work on my car when Francois is too busy. They prepped it for the FNA 612 Scaglietti intro. I will also give it a visual and get photos if you're really serious. My office is also in Stamford, CT. Call me with any questions.

Art S. · Post by **Art S.** » Tue Apr 27, 2004 11:44 am

My subscription to FML has lapsed. Does anyone know the asking price? Can someone copy the add onto this thread?

Thanks,

Art S.

horner · Post by **horner** » Tue Apr 27, 2004 12:44 pm

Art, s/n 3045, Red w/ Tan, asking $55,000. I only have the print version of FML, but you now have all the info. Now ya wanna know if I can go see it, right? LJH

Art S. · Post by **Art S.** » Tue Apr 27, 2004 2:34 pm

Actually, not really. I was just wondering what the going rate was for a 2+2 in marginal condition.

$55k seems incredibly high but, if it sells, I will be able to tell my wife that my car is an "investment" rather than the bottomless money pit it actually is.

Regards,

Art S.

horner · Post by **horner** » Tue Apr 27, 2004 3:53 pm

Art, A 330 GT 2+2 Series I (4 Headlight) recently traded in the NY tri-state area above $65m, slightly below the $69+m asking price. So I'll bet you're looking good.

This 250 GTE is $55m, condition still uninspected. The May 2004 edition (number) of the British magazine Classic & Sports Car has a German-listed 250GTE at E65m x ~1.17 = $76,050.

jsa330 · Post by **jsa330** » Tue Apr 27, 2004 9:11 pm

"Art, A 330 GT 2+2 Series I (4 Headlight) recently traded in the NY tri-state area above $65m, slightly below the $69+m asking price. So I'll bet you're looking good. "

Please excuse my ignorance, but what does "m" stand for?

Art S. · Post by **Art S.** » Tue Apr 27, 2004 11:36 pm

Jack,

If this is the case, the U-boat has surfaced! (the car might not be totally underwater, financially speaking). Alternately, everyone has gone mad with cheap money burning holes in their pockets.

Bluecat,

m = K = thousand.

Regards,

Art S.

JAshburne · Post by **JAshburne** » Wed Apr 28, 2004 2:20 am

Hmmmm, ad says "completely restored", but that was 20 years ago by the owner himself and car not driven in FIVE years. We all know that it is possible for an owner to do a superb restoration, right Tom? ;-) But Tom Yang restorations have got to be the exception rather than the rule.

Owner wants to change out the "old gas" and other fluids and "do some other things".

I wonder if the car will even start, and if it did, I'm not sure that I would want to drive it until after checking out the brakes thoroughly. I can see a dried out seal blowing out and having the pedal go to the floor at the worst possible time.

$55k seems like all the money for a car that likely will need some significant work to make it roadworthy again, but I'm not up on my 250GTE pricing. Maybe if it was a good restoration to begin with and has been stored properly in the meantime, it would be possible to get it up and running without overpaying.

Jack, if you're going to see it, I'd be interested in tagging along.

John

JAshburne · Post by **JAshburne** » Wed Apr 28, 2004 2:30 am

Cavallino Mercato guide shows range of $32-$65K for 250GTE. These are estimates of actual selling prices.

FML average asking price index for 250GTE is $44,757 and shows an increase of 13% from one year ago.

John

JAshburne · Post by **JAshburne** » Wed Apr 28, 2004 2:48 am

Recent 250GTE ads in FML:

Jan 2004 s/n 4167 Silver/black, v. original late car $62,500 (raised to $72,500 in Feb) Heritage Classics

Nov 1, 2003 s/n 2899 ground up restoration perfect car with over $120K invested, never driven on street since restored. $89,000.

Sept 6, 2003 s/n 4047 Maroon/black Mechanically sound, no rust. $50,500.

June 14, 2003 s/n 4747 Black/red, 71,000 miles. Restored and rebuilt engine. $78,500

December 14, 2002 s/n 4001 Dark blue with saddle, lovely original example, rust free with books and records. $49,500.

John