Thanks for the nice note Max.
Ferrari owners are frequently treated as if they were rich snobs.
And some certainly ARE! Hopefully, I am not snobbish. And I CERTAINLY
am not rich. My 308GTB in <now> pristine condition cost me 3/4 of what
a new SUV costs. Then again, my Ferrari is STILL worth what I invested.
The SUV, well...
Please read on.
Max Heim wrote:
> Wow. That makes me think, we MG owners have to readjust our sights
> when evaluating Ferraris and other exotica.
True. There are an equal number of people out there who can't imagine
that they could afford to keep an MG or Triumph running. That's
why they drive Hondas -- and deserve what they get! :-P I just
can't wait to get my MGB-GT. It will be my daily driver.
> We are used to looking at some worn-out B and thinking "mechanical
> stuff, no problem... I can do all that. Probably needed replacing anyway
> at that age. But that rust/body damage -- whoa! that can get expensive.
> No payback there."
Having built an early E-type OTS, a TR-6, a Midget and a couple of
Spitfires, I can whole heartedly agree. These cars have a romantic
simplicity. If you can either do your own work or adequately oversee
professional work, you can affordably bring an LBC back from near
disaster -- IF the body is not rusty.
> But with a Ferrari it's almost the opposite -- the mechanical stuff is
> esoteric and hideously expensive,
Engine parts are rarely more than Toyota parts. That said, Toyota
parts are mighty expensive. I guess the exception is major components
like crankshafts, cams, etc. Those can be AWFUL! Most modern
Ferrari parts, and I hate to admit this, are Fiat parts. The door handles
on a Ferrari Mondial are from the Alfa Spider. The door handles on
the 308GT4 are from the Fiat X1/9!
I rebuilt the 308 engine in a Mondial QV. EVERYTHING was rebuilt
making it a new motor in old castings. It cost $8000 including the R/R
and that was done at the dealer. I sold the car for $10k more than
I paid for it -- and drove it for a year and a half!
> probably requiring expert intervention at a high hourly rate,
Expert? Yes. High rate? No, comparable to any other marque.
> but the body work, while requiring some specialized skills,
> is basically the same cost as on an LBC (high quality = expensive) -- and
> the car is worth a whole lot more (than an LBC) when restored, so it
> justifies the investment. Huh.
That IS the tricky bit. Good paint and correct bodywork is expensive
and is not worth the investment if the final product does not fetch a
high price. Nor is it worth the investment to poorly paint a classic
car. It reeks of 'painted-to-sell.'
You know, it's funny. Folks will tell you that you can't afford to
own or maintain old British cars, older BMWs, Ferraris and other
rare or exotic marques. It has been my 25 year experience that I
cannot afford to own anything else! I have never lost money on a
desirable older car be it a BMW 2002, an XJ-6 or a 308GTB.
Try that with a new Pontiac! You loose your a$$ when you drive
it off the lot.
Best regards and thanks for the interest,
Rick
>
>
> RO Lindsay had this to say:
>
> >Tom.
> > Thanks for your note. The Ferrari that you have seen was cosmetically
> >a nightmare. I know. I watched it get that way. The car is however,
> >mechanically perfect. Every mechanical aspect from bearings, brake
> >calipers to main bearings and cam belts is new. While the cosmetics
> >were 1.0 the mechanicals are 10.1.
yada, yada, yada...
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