I don’t really follow the Ferrari marketplace that closely and I’ve never been a big fan of the 365 GTB/4 known unofficially as the Daytona. It was the last of the big front engined Enzo era cars.
The collector car market is generally all about Provenance. Who owned it or drove it, how rare is it ( less than 100 of this model ? ) . what makes this special. in this case the Plexiglass headlight covers make the silver example, one of 411 series one cars. The other one having the pop over headlights and out of a total Production run of 1,046 cars. I don’t think that really accounts for the difference in asking price, but asking price is not sales price. Now, if it either were the Kirk White car that Yates and Gurney drove to win the first Cannonball — that’s probably a multi million dollar 365 GTB, but they are not.
Bottom line – the red one is probably closer to the actual market and the seller of the silver is looking for a greater fool.
On top of that, the old Ferrari market is in a bit of a slump recently. The white GTO recently brought an auction price of only $ 35 million, a car that for decades was a $ 50 million dollar car. Local Boston collector J Giles had 2 of them the last time I was at his garage.
According to the write-up, the red one has been “preserved” while the grey one has been restored to show car level quality. So you’re looking at the difference between a solid driver versus a show quality restoration. My guess anyway.
But like GT3 said, asking prices are all over the place on stuff like this. Whatever any idiot will pay is the final real price, and if you happen to stumble across a recent lotto winner, why the hell not. Double your price, he probably doesn’t know any better anyway.
Excellent observation, Don
” preserved ” – 3 weeks in someone’s shop to do a full service, repair the obvious flaws and do a world class detailing and paint correction. ~ $ 25 to 50 K
“Restored” – 3 or more months in the shop to do an engine out rebuild, replace the 50 year old funky Italian electrics with German or Japanese stuff that actually works. Replace the worn or dried out brakes and suspension bits with new or non existent OEM parts and anything else they can do. ~ $ 400 K or more, which probably accounts for the big jump in asking price.
Ironically the marketplace assigns more value to Unrestored Original cars than over restored ones.
Here is a complete project, wrong car but right era
Getting that one to concourse condition is probably a $500k undertaking. Just getting it to road useable is probably half that, being a full engine and drivetrain rebuild. I know someone who has just rebuilt an early 308 motor (not me thank god). Using a marque specialist, getting a running v8 to “road concourse” (eg correct but not perfect) cost just shy of $50,000.
The plexi front cars have always commanded a premium of approximately 20% over the later cars. The series 1 (plexi cars) only ran to about 500 cars – original, purest era. Not better cars.
So if your $940k car is original, correct, 95 plus point concourse car it’s “in the region”.
Not an expert, but I note that the silver one has “Plexiglass” in the description, which indicates that it has fixed headlights behind clear plexiglass vs the flip-up headlights on the red model. IIRC, Ferrari only made about 400 of the early fixed-headlight cars (out of a total of ~1,300 for the total production run) before safety regulations made them switch to the flip-up headlights, which I believe occurred midway through the 1970 model year. So the silver car is a much rarer variant of the Daytona, hence at least one reason for the much higher price.
I don’t really follow the Ferrari marketplace that closely and I’ve never been a big fan of the 365 GTB/4 known unofficially as the Daytona. It was the last of the big front engined Enzo era cars.
The collector car market is generally all about Provenance. Who owned it or drove it, how rare is it ( less than 100 of this model ? ) . what makes this special. in this case the Plexiglass headlight covers make the silver example, one of 411 series one cars. The other one having the pop over headlights and out of a total Production run of 1,046 cars. I don’t think that really accounts for the difference in asking price, but asking price is not sales price. Now, if it either were the Kirk White car that Yates and Gurney drove to win the first Cannonball — that’s probably a multi million dollar 365 GTB, but they are not.
Bottom line – the red one is probably closer to the actual market and the seller of the silver is looking for a greater fool.
On top of that, the old Ferrari market is in a bit of a slump recently. The white GTO recently brought an auction price of only $ 35 million, a car that for decades was a $ 50 million dollar car. Local Boston collector J Giles had 2 of them the last time I was at his garage.
According to the write-up, the red one has been “preserved” while the grey one has been restored to show car level quality. So you’re looking at the difference between a solid driver versus a show quality restoration. My guess anyway.
But like GT3 said, asking prices are all over the place on stuff like this. Whatever any idiot will pay is the final real price, and if you happen to stumble across a recent lotto winner, why the hell not. Double your price, he probably doesn’t know any better anyway.
Excellent observation, Don
” preserved ” – 3 weeks in someone’s shop to do a full service, repair the obvious flaws and do a world class detailing and paint correction. ~ $ 25 to 50 K
“Restored” – 3 or more months in the shop to do an engine out rebuild, replace the 50 year old funky Italian electrics with German or Japanese stuff that actually works. Replace the worn or dried out brakes and suspension bits with new or non existent OEM parts and anything else they can do. ~ $ 400 K or more, which probably accounts for the big jump in asking price.
Ironically the marketplace assigns more value to Unrestored Original cars than over restored ones.
Here is a complete project, wrong car but right era
https://www.beverlyhillscarclub.com/1970-ferrari-365-gt-2-2-c-15725.htm
Here is a gtb/4 needing restoration
https://www.gullwingmotorcars.com/1973-ferrari-365-gtb-4-c-5624.htm
Getting that one to concourse condition is probably a $500k undertaking. Just getting it to road useable is probably half that, being a full engine and drivetrain rebuild. I know someone who has just rebuilt an early 308 motor (not me thank god). Using a marque specialist, getting a running v8 to “road concourse” (eg correct but not perfect) cost just shy of $50,000.
The plexi front cars have always commanded a premium of approximately 20% over the later cars. The series 1 (plexi cars) only ran to about 500 cars – original, purest era. Not better cars.
So if your $940k car is original, correct, 95 plus point concourse car it’s “in the region”.
Not an expert, but I note that the silver one has “Plexiglass” in the description, which indicates that it has fixed headlights behind clear plexiglass vs the flip-up headlights on the red model. IIRC, Ferrari only made about 400 of the early fixed-headlight cars (out of a total of ~1,300 for the total production run) before safety regulations made them switch to the flip-up headlights, which I believe occurred midway through the 1970 model year. So the silver car is a much rarer variant of the Daytona, hence at least one reason for the much higher price.