Latest / BREAK/FIX the Motorsports & Vehicle Enthusiast Variety Show / The $52 Million GTO and the Mystique of Racing Provenance

Transcript

The $52 Million GTO and the Mystique of Racing Provenance · BREAK/FIX the Motorsports & Vehicle Enthusiast Variety Show

0:00
As part of Ferrari Fridays, William Ross from the Exotic Car Marketplace
0:04
will be discussing all things Ferrari and interviewing people that live
0:07
and breathe the Ferrari brand.
0:09
Topics range from road cars to racing, drivers to owners, as well
0:13
as auctions, private sales, and trends in the collector market.
0:36
And hello everyone.
0:39
Welcome back to the podcast.
0:40
I'm William, your host.
0:42
Uh, it's been a long, long time since I've recorded one of these.
0:45
Um, lots going on.
0:47
I know my other pre was, I kept saying, Hey, I'm going to start
0:49
firing these bad boys out on a more consistent, regular basis.
0:53
Uh, but things just kind of get away from you and kind of lose
0:57
track of time a little bit.
0:58
Got a lot of stuff on my plate and a lot of exciting stuff
1:01
that, Hey, I'll hopefully share with you guys down the road.
1:03
Uh, A lot of new things happening and whatnot and a possible acquisition.
1:07
So keep that in mind.
1:09
So that'll be coming down the road.
1:11
So, but again, I apologize.
1:13
Cause like I said, I know I keep kept saying before, Hey, I'm gonna
1:15
do these more faster or something.
1:16
Seem to be quite a decent amount of downloads still.
1:19
So, which is great.
1:20
You know, we've got quite a few episodes out there.
1:21
I really appreciate the support.
1:23
Uh, any thoughts, suggestions?
1:25
Hey, just shoot me an email.
1:26
William at the Ferrari marketplace.
1:28
com as simple as that.
1:31
So anyways in today's episode what we are going to talk about That the whole
1:37
scuttlebutt was, especially leading up to it and after the fact, is the Ferrari
1:41
250 GTO that just got auctioned off by Sotheby's last week in New York City.
1:49
Anyone that watched that, anyone kind of delved into that and saw, uh, what
1:53
the car went for, roughly just with all fees and everything, uh, in it,
1:58
you know, all said and done, just a smidge under 52 million dollars.
2:05
So, um, it's, you know, it's not a bad price for that.
2:09
Um, you know, it's, you know, everyone has to understand something about that
2:13
car, though, is that it started out
2:23
as a 330 LM.
2:26
So, I don't know if many of you are familiar with what that means, but The
2:30
original 250 GTOs that were produced in manufacture and race, uh, the first, you
2:36
know, this is where it kind of everyone kind of comes up with the different
2:40
arguments and everything like that in regards to, well, how many were built,
2:43
how many, you know, so technically you have, you know, the 36 250 GTOs sold.
2:56
So, but, after that, they actually then increased the displacement
3:01
size to a larger 4 liter thing.
3:06
Now you say, alright, it doesn't make sense, what is the, uh.
3:09
The, the designation doesn't really kind of make sense on that.
3:12
But, so the increase in displacement, they only made actually four 330LMs.
3:18
Now the body, really only distinctive change in the body
3:21
on these was the hood bulge.
3:23
Because obviously with the motor, the carbs, everything like that, uh,
3:26
to squeeze that bad boy in there.
3:28
Because it was significantly bigger engine, uh, in there.
3:31
That, you know, obviously had to do the hood bulge and everything like that.
3:35
Common sense would tell you, you would think, well, wouldn't
3:37
those four be more expensive or more valuable than the 250 GTOs?
3:41
Yeah, you would think, right?
3:43
But no, it's not the case.
3:44
You know, everyone seems to refer to the 250 GTO.
3:47
That's the one that's got the moniker, that one's got the status, the mystique.
3:52
Everything out there amongst everybody in the marketplace, out
3:57
there in the automotive world.
3:59
So, it's interesting.
4:02
Because like I said, in my mind, I would think I'd rather have a 330LM Than the 250
4:08
GTO, but you know, that's just me because you think it's more rare I was like that,
4:14
but so anyways, so after that car It was, you know driven by Mike Parks, Lorenzo
4:19
Bandini at some point, you know, races in the 1960s, 24 Hours of Le Mans And
4:23
but the big kind of I guess say catch or hook I guess you would say is they really
4:28
tried to press the fact was it was, you know, it was raced by the Scuderia itself
4:34
Now basically almost all those 250 GTO that were pardon me on that We're out
4:40
there and race stuff that were basically, you know done by I want to say, you know
4:44
privateer teams But pray it's privateer teams, but like say nart You know, you
4:48
had the other Scuderia teams You know, you had several other teams out there that
4:54
actually Race the car under their banner.
4:58
Now that was kind of, you know, Enzo's, I guess I would say philosophy, or I
5:04
guess basically say his, his business mantra, you know, it's expensive
5:08
to go race it and race those cars.
5:10
So his thing is, well, tell you what, this is what we'll do is I'll build
5:14
the cars, we'll sell them off to who I want to sell them to team wise,
5:18
because we know that they'll win.
5:20
And it'll just benefit the team and then we don't have to cover the pay
5:23
for the cost of, you know, hiring the drivers and all that kind of jazz.
5:26
Now, don't get me wrong, they did have several, you know, cars in
5:29
different categories that they raced under their own banner.
5:32
Um, but, you know, these, I guess you would say more, how would you say, uh,
5:38
kind of like, I guess you'd say the cars that you could drive to the track, race
5:41
to the track and then drive it home.
5:43
You know, back in those days, those kind of cars, you know, they, it's, he
5:46
sold them more off to like these teams and gentlemen drivers and what have
5:49
you than actual full fledged race cars that they basically ran themselves.
5:55
You know, uh, like your 330P, or like the 312Ps, that kind of stuff, you know,
6:00
those kind of cars, uh, you know, your F1 cars, stuff like that, you know, um, you
6:05
know, your 250LMs, you know, they did make the, obviously the street car and those
6:09
as well, so, but, you know, they did have their cars at the factory, actually did,
6:13
you know, race themselves, hired the guys and everything like that, don't get me
6:16
wrong, but when they got, Now it's more for the Formula One side of stuff, but
6:19
getting into, like, the endurance racing, that kind of stuff, they had a tendency
6:24
to lean more towards selling the cars to these teams, uh, than racing themselves.
6:27
Now, don't get me wrong, again, they did do some of that as well, too, so,
6:31
don't come, don't get yelling at me and jumping down my throat, No, hey,
6:34
William, they did this and this, and like, I know, I know, I know, I know.
6:36
So, anyways, the, um, this GTO, you know, had, you know, a
6:42
nice, you know, History to it.
6:45
Now I want to say checkered history because you know, there's some
6:47
out there that have had kind of a sketchy type of history to them.
6:50
Now, this is what kind of also gets me is, you know, I've, you know, been
6:55
involved in a few of these transactions, uh, in regards to these cars and
7:00
the one biggest, I guess, a hurdle you get, or I guess biggest, I say,
7:05
pushback, I guess, from a, you know, a buyer, you know, obviously these
7:09
people have a lot of money to be able to pay this kind of dollars for a car.
7:12
Um, you know, and there you have a tendency, they get what they want,
7:16
and if they want something a certain way, that's how that's gonna be.
7:19
Um, but, you know, they have a tendency to forget.
7:22
You know, unless these guys are like, you know, hardcore into this stuff, you
7:25
know, not just looking for it as a status thing, you know, they just have, they
7:27
have a car collection, but it's more just a, hey, look at me, puff out my chest.
7:30
You know, you got those few guys out there that are true hardcore, like Nick Mason.
7:34
There's your hardcore guy, you know stuff like that, you know, Lord Bamford.
7:38
No, he's another one You know, these guys know these things inside out and
7:41
just absolutely adore these vehicles But I know you get these guys that
7:45
you understand these were race cars.
7:47
They were raced in period You know, so they got banged up, motors
7:52
blew up, everything like that.
7:54
So, I mean, you're not going to have a car that as it was first built,
7:58
fresh, nice and clean coming out of the factory is what you're going to get now.
8:02
I mean, you know, these things had, you know, led hard lives.
8:05
They were race cars.
8:07
And a lot of these people have a tendency to forget that.
8:09
Now, yes, there are some out there that have, hey, they're,
8:12
you know, matching drivetrain, uh, engine, everything like that.
8:15
But, you know, a lot of these, you know, hey, they had different, you
8:17
know, new blocks put in, new motors put in, you know, everything like that.
8:19
New transmissions, because just have, you know, there's a few out there that,
8:23
you know, they were pretty banged up, you know, and basically got all new bodies.
8:27
You know, um, you know, then you had, you know, cause you got your series one.
8:30
You got your series two, you know, and everyone always wants a series one.
8:34
So the series two ones, a lot of those got rebodied back to series one.
8:38
So a lot of these don't even have their original bodies on them, stuff like
8:41
that, you know, and God, you know, if, if someone would have kept the original
8:45
body, put a new, that's gone back to a series one, but kept the series.
8:49
Talk about adding value to the car, but anyways, you know, no one, you know, if
8:53
everyone could, um, see the future and predict the future, you know, hey, know
8:57
how much money a lot of us all would have.
8:59
But anyways, so with that, um, okay, let's let's check with them.
9:04
Oh, but anyways, so, you know, people, these guys have a tendency to forget,
9:07
you know, what these cars were actually utilized for back in the day and, you
9:11
know, getting into it, you know, these, and again, you know, this is a race car.
9:15
Yes, you could drive it on the street.
9:17
Yes, it was, you know, basically done up, you know, and, you know,
9:19
this was an Enzo's get around, you know, this was basically, you know,
9:23
a tip, you want to say evolution of the 250 short wheel base car.
9:27
Um, you know, that's how he tried to circumvent the rules and just say, no,
9:31
this is just an evolution of that car.
9:33
I don't know, you know, and being Enzo being Enzo and, you know, these,
9:37
uh, people running the show, uh, at that night, FIA and stuff, you
9:41
know, didn't want to piss off Enzo cause they didn't want to lose him.
9:44
Um, we're just saying, oh, okay.
9:46
Yeah, we get it with, you know, why?
9:47
Meanwhile, all these other teams, everybody's protesting like crazy
9:50
because they just don't understand.
9:52
It's like, how blatantly blind do you have to be not to see
9:54
it's a completely new car.
9:56
But anyways, you know, that's Enzo being Enzo.
9:58
I love the guy.
9:59
So anyways, um, you know, be what they are.
10:05
Got to love them.
10:06
But again, you know, it's a race car, you know, and again, you know
10:08
You don't have all these creature comforts and everything like that.
10:10
Now what's great about those cars These are kind of like the 250
10:13
short wheelbases and the 275 GTB fours, especially You know, they're
10:18
great comfortable cars to drive.
10:20
I guess so to speak, you know again You're not gonna have all these accoutrements
10:24
everything like that, but you know, you can drive them, you know, chug
10:27
them along You know, you don't have to like on some of these cars, you know
10:30
You have to be basically winding the ssssssssh not out of them, you know,
10:34
to get any enjoyment out of them.
10:35
These cars man, they pull from the bottom, they're like, obviously
10:38
tractors, but, you know, they got, you know, all through the range, they
10:41
pull, you know, they're not that bad.
10:44
The clutch isn't all that heavy, you know, you don't have to feel like it's
10:46
a tractor clutch or anything like that.
10:48
So, you know, you don't have to be all that delicate, you got to be
10:51
a little delicate, but you know, it's, you know, it's not something
10:53
where, like, it's a full on race car where it's either all or nothing.
10:58
You know, I don't know how many of you out there might have, you know,
11:00
ever been in, have raced a race car, driven a race car, but you know,
11:03
those things don't like going slow.
11:05
They're not happy when they're going slow.
11:06
You got to have those things going basically nine tenths, 10 tenths all
11:10
the way for you really want to get everything out of the car, but to be
11:13
able to drive it, you know, and not be like, Hey, something's breaking
11:15
or something's wrong with this car.
11:17
You know, you get to layman is one of these cars like that.
11:19
They think, you know, the thing's going to fall apart or something's wrong with it.
11:21
It's like, no, you got driving faster, you know, that's just what the case is.
11:25
So, and I guess that, you know, that was makes it fun.
11:27
Hey.
11:27
supposed to be going fast anyways, right?
11:29
So anyways, you know, but with these cars, you know, Hey, that's what they
11:34
were made to be able to drive on the street, drive it from wherever, drive it
11:39
to the track, race it and drive it home.
11:41
You know, I'm not saying a lot of these people did it, you know, early years.
11:45
Yes, that was the case.
11:46
You know, it really wasn't the thing of, you know,
11:49
transporters, that kind of stuff.
11:50
You know, these cars were street cars and he modified them and took
11:54
them to the track, you know, early days of Le Mans, that kind of stuff.
11:56
You know, um, great stories about, you know, the Bentley boys, you know, driving
12:00
from, uh, England down to France and to Lamar, you know, and then driving home.
12:04
I mean, great, great stories.
12:06
I mean, those boys had a lot of fun.
12:08
Um, but you know, stuff like that.
12:09
Well, you know, as things got more serious, hey, transporters came
12:12
into play, everything like that.
12:13
Hey, these cars, you know, weren't all that comfortable or anything like that to
12:17
kind of drive on a, you know, 800 or 1500 mile road trip to go racing like that.
12:22
So.
12:23
You know, that's when the day and the age came where ADCs got transported to
12:26
track and it was like that, you know, they weren't driven there, which, you
12:29
know, those are some great times and, you know, we'll never see that again.
12:32
I mean, now, now, you know, the argument is people say the McLaren F1 was the last
12:39
true road car that won Le Mans, that you could drive the track race and go, yeah,
12:44
technically, but those cars that raced were nowhere near what the road cars were.
12:50
I mean, those things weren't even close.
12:52
You know, people try and make that argument.
12:54
Oh, I knew that, but you weren't going to drive that race car from England
12:58
all the way down to Le Mans and back.
12:59
It wasn't going to happen.
13:00
It's just, you know, everything that was stripped out of that car.
13:03
God, I'm trying to remember how much weight they pulled out of the car.
13:06
It was a significant amount of weight that they took out of that car.
13:10
I mean, significant amount of weight.
13:13
Um, you know, if you look it up, take a look and see.
13:16
I mean, don't be a head shaker, because you know, you see some
13:17
of these where they do it.
13:18
They always took out like, you know, two, three, four hundred
13:21
pounds, something like that.
13:22
Well, they took out like, I don't know, 800, 900 pounds.
13:24
Something like that.
13:24
If memory serves me, I'd have to look up and see it, but I know it's just an
13:28
insane amount of like, how did they find that much weight there to pull out of
13:31
there, but they did and God bless him.
13:34
You know, Gordon Murray, man, that man, he is a genius.
13:37
And I don't know how many of you've been COC in his new,
13:39
uh, his new car, uh, the T 50.
13:42
I tell you what, if you haven't had the opportunity, Top
13:44
Gear's got a great video on it.
13:46
Um, what's his name, the editor there, you know, the guy who said thing, but
13:49
he does, you know, the YouTube videos.
13:51
You know, and he took down a 900 mile road trip, uh, from, I think it
13:54
was just somewhere in Spain and to the Pyrenees or something like that.
13:58
Uh, but a 900 mile trip and you hear that V12 scream.
14:02
Naturally aspirated that thing that's just glorious.
14:04
It just sounds like the old f1 motors back in the day.
14:07
I mean, it's just glorious and Straight out of the box from the factory.
14:11
You don't have to touch that thing and I'm sorry and they even say it You
14:14
know put that up against any new, you know Koenigsegg or anything out there.
14:18
It's now now the Valkyrie Yeah, cuz it's basically the same premise and say
14:22
I Cosworth built to both those motors.
14:24
So they sound very similar So the Valkyrie's got you know Could give it a
14:28
run for its money, but I tell you what, that thing is just absolutely glorious.
14:33
I mean the sounds it makes, it's just absolutely glorious.
14:36
So, but anyways, talking some more about this sale.
14:40
Again, fees, everything, the end is 51.
14:43
7 million dollars.
14:44
And you know, there's some banter about, well, why'd it go for 80?
14:47
Why was it 90?
14:48
You know, all these, you know, the auction house was stolen around.
14:50
A lot of people didn't think, hey, is it going to go for 60?
14:52
Is it going to go for 80?
14:53
Is it going to go for, is it going to break 100 million?
14:55
You know, and again, the people that kind of study this and really know say
14:58
no, because one, it started out as a 330LM, they got, you know, after it
15:02
was done, then the factory took it back and, you know, redid it as a 250GTO.
15:08
Now the factory did it, everything like that, so, you know, that
15:11
gives it some credence, um, and in fact, you know, gives it its value.
15:16
Uh, but, you know, it's right, it's sold right where it should be.
15:21
Um, Anyone who watches the market, you know, those, they're a real 250 GTO
15:27
series one, you know, long as no one's been killed in it or anything like that,
15:31
you're probably in the, you know, 60 to 80 range, just depending on history,
15:35
whatnot, what's been changed, everything like that series to a little bit less,
15:39
you're probably in the, you know, 50 to 70 range again, depending on the car.
15:43
Now, here's a big thing.
15:45
Uh, some people think wouldn't shouldn't matter, but right hand drive ones.
15:50
Do not bring the money because unless you're in a country that's right hand
15:54
drive, you know, people don't want it.
15:57
And even then, people don't want it to have the right hand drive cars.
16:00
They want to have the left hand drive cars, which are more in
16:03
abundance, I guess you could say.
16:04
Um, I'd have to look exact number wise, but I think there's only seven or eight,
16:08
six or seven right hand drive ones.
16:10
The rest are all left hand drive.
16:12
Um, but you know, that's the big thing out there now is, you know, I have, you know,
16:17
someone, a client that's looking for one.
16:19
And there's a couple of right hand drive ones that we're probably, you
16:22
know, could easily get our hands on.
16:24
He could acquire but doesn't want a right hand drive car.
16:26
And again, it goes down to, if you're spending that kind of money,
16:28
you're going to buy what you want.
16:29
You're going to wait, you know.
16:30
Yeah, you know, 99 percent of those cars all get sold off market.
16:36
It's very rare that, you know, you bring it to an auction like that.
16:41
I don't know what the owner's thinking was behind that.
16:45
You know, maybe you just didn't want to deal with, you know, private
16:48
stuff and you're having to deal with lawyers and everything like that.
16:50
Because basically, I'll walk you through a process here in
16:53
regards to how a transaction like this would happen off market.
16:57
So, you have your client, they start talking, they want a 250 GTO.
17:02
Then you start, well, you know, you start delving a little deeper.
17:04
Why do you want one?
17:05
What do you want to do?
17:06
Because that's a big, you know, outlay of cash.
17:08
Because think about that.
17:09
Say you spend 60, 70, 80 million dollars.
17:12
Think of how many other cards you could buy that are significant.
17:15
Not just in value, but of just, you know, history, everything
17:18
provenance, just coolness.
17:20
I mean, you could buy a crap load of cars.
17:23
You can have a monster.
17:24
You can get 50, 60, you know, top notch cars.
17:27
They have an awesome collection with that kind of money.
17:29
Instead of just dumping it all into one.
17:31
But Hey, again, when he got that kind of money, that's just a drop in the bucket.
17:35
So anyways, you know, you go to this stuff and then, Hey, you call who you
17:37
know out there that would, Hey, do you know if so and so's interest on his car or
17:41
you call them directly, you'll find out.
17:43
You know, you kind of just go through the grapevine, figure a few things out.
17:46
You know, you're not going to know every single owner and be able
17:48
to reach out to every single one.
17:50
It just doesn't happen.
17:50
So you got to go to other people that either A, they have direct
17:53
connection to them or B, hey, they can get direct connection.
17:56
You'll find out, you know, so a lot of these guys, you know, they
17:59
don't, you're not, you know, there's those few out there that, you know,
18:01
have their cars for eons, decades.
18:04
Um, you know, and you know that they're never going to sell their car.
18:07
So you can immediately eliminate basically almost half of all the 250 GTOs built.
18:13
Because they're just not going to be sold.
18:14
The owners aren't, they're not going anywhere.
18:16
They're going to get passed out, what have you.
18:18
Then you got about another, you know, five or six that you really don't
18:22
want to touch just because their history and everything to the car, you
18:25
know, it's just, it's just not there.
18:27
It's like, no, it's, you know, it's car, it's like checking out car
18:30
vertical or Carfax on it and go, wow, how many access does this thing have?
18:34
And then I don't want to touch it.
18:35
I think with 10 foot pole, um, you know, you might not see it cause hey, you know.
18:39
To the eye.
18:40
Oh, it looks beautiful, but you know what's been done to it and who did the
18:42
work and because you got to understand It's you know far and class each, you
18:47
know has not been around all that long So you can't send it to class, you know
18:50
class each back in 1980s and hey, I want to get classy certified Hey, you guys
18:56
do all stuff and hey you guys do all you know, I get to get the red book for it
19:00
You know, that wasn't it, you know, who did the work on it back then and who did
19:02
the work on it throughout the years is a big, big factor in value on these things.
19:06
So, so anyways, so you got about 5, 6, 7 of those that you really
19:10
wouldn't even want to touch.
19:11
So you start breaking that down.
19:13
So, you basically have, and you get rid of the right hand dry ones in essence, unless
19:17
they really want a right hand dry one.
19:19
Um, you know, you only have maybe 8 to 10 of them out there that, you know, that
19:26
I can say are, you know, hey, these ones are probably you can get your hands on.
19:30
Those cars actually though, people don't realize they change hands frequently.
19:34
Now I'm not going to say like, you know, once a year or something, you
19:36
know, every year they're changing heads.
19:37
But I mean, you know, every year you probably have two of those,
19:41
maybe three that change hands.
19:44
Uh, these guys, they came for a couple of years cause it's a status thing.
19:47
They'll go to the GTO only events.
19:50
You know, they'll take them to the big ones and stuff like
19:52
that to say, Hey, look at me.
19:53
Yeah, I own one of these, you know, and kind of get in that
19:56
circle, that group of owners.
19:58
But then they, they move on because one either a, Hey, it's gone up in some value.
20:02
So that little investment, you know, in a year, say two or three year time, you
20:07
know, on say a 60 million investment, they turn around, they sold it for 65.
20:11
That's not a bad return rate on sitting on something just for two or three years.
20:15
You know, um, You know, it's not too bad.
20:17
And all the enjoyment and fun you got out of it, you got to kind of factor that in.
20:20
Because I know someone out there numbers like, Oh, that's only
20:24
this kind of percentage rate, interest rate, blah, blah, blah.
20:26
Well, look at all the things of enjoyment you would have got out of it.
20:29
All the events you would have went to, all the people you would have meet.
20:32
Because a lot of that stuff too is these guys, you know, you get in that
20:34
circle, man, you're dealing with some of the richest people in the world.
20:38
And you want to talk about business and networking and transactions.
20:42
That's how these people get more rich.
20:44
They all fucking work together with each other and you know, hey,
20:48
you want to get involved in this?
20:49
Hey, well, you know, that's how these people make, you know, get just keep
20:51
getting richer and richer and richer, you know They're all in the same circles and
20:55
they all work together and they just make money for each other So anyways, so that's
20:59
pretty much, you know, how it would go.
21:01
Well, I mean, it's not how it goes.
21:02
I haven't gotten there yet.
21:02
So anyways So you got to identify the car.
21:05
Okay, you find one.
21:06
So then what you do is, okay, you have the interest, whatnot, and kind
21:09
of, one big first step now, this is where it kind of gets kind of give and
21:12
take wise between buyer and seller.
21:14
Because the one thing you really want to do is, one, prove that the
21:18
car is actually available and, hey, give me proof of life of the car.
21:22
Show me a mandate and proof of life of the car.
21:25
That, hey, you know, and that's, you know, and this is what kills me because
21:28
you'll get some of these jokers out there.
21:29
They'll send you photos that they just took off the internet and whatnot.
21:32
It's like, come on guys.
21:33
I need like a photo, not that it seemed like, hey, a kidnapping situation.
21:37
Take a photo standing next to the car with the newspaper date, that kind of crap.
21:40
You know, I've had people ask that too, by the way, and it's
21:43
just kind of you laugh at them.
21:44
But, you know, take some photos where, okay, you can tell they
21:47
were standing next to the car.
21:48
They took the photos, what have you.
21:50
So kind of get that proof, but then the next step, the lawyers.
21:53
It just, then you just kind of, Why I say wash your hands of it, but you
21:56
turn it over to the lawyers on both sides And then you let them hammer it
21:59
out You know you start working on terms agreements or whatnot and the biggest
22:03
thing is proof of funds You know the buyers got to show the oh the seller.
22:07
Yeah, I got the money to buy for this.
22:09
Okay, you're legit All right, that's agreed upon proof of funds are there.
22:13
Yes, they can pay for the car.
22:14
All right Let's get set up a viewing so they can go prove.
22:17
Hey, yeah, the car is here go to it And obviously, you know, you're going
22:20
to have an expert go through it.
22:22
I mean, obviously your key thing is you want to have
22:24
Marcello Mussini go through it.
22:25
Uh, that'd be the guy you'd want.
22:27
He is the guy for Ferrari.
22:28
If you really want out there.
22:29
I know there's some other guys that are up close to his level, but Mussini
22:33
is the guy and everyone knows it.
22:35
So anyways, that'd be somebody you want to have it.
22:37
So everything goes as planned.
22:39
Everything's good.
22:39
Everyone signs off.
22:40
Yes.
22:41
All right.
22:41
They'll take the car.
22:42
Funds are transferred.
22:43
And there you go.
22:44
That person's got themselves a new 250 GTO.
22:47
Now this is probably over about a six to ten week span all this takes.
22:51
It's not a quick transaction It's not like you're going down to your local Ford
22:55
dealer and going to say hey I'll take that one and two three hours later You
22:58
know you drive your new car home just doesn't have like that because there's
23:01
just a lot of legality to take now You know technical stuff it goes on with that
23:05
part of my get a tongue tied there, you know And especially you'll transfer that
23:09
kind of money all that kind of stuff.
23:10
So it takes time, you know It's actually got to be patient and
23:13
honestly a lot of these Even, you know, getting it across the finish
23:18
line to get the funds transferred that they get take deliver new car net.
23:21
You know, there's still not till about 567 weeks after that person's gotten the
23:27
car into their stable or wherever they have it, you know, and they've driven it.
23:31
What not?
23:31
They're going to say, okay, we're happy they got it because again, you know,
23:35
we're A lot of these guys, and I've seen it, and thank God it hasn't happened to
23:39
me, is, you know, they get the car and then all of a sudden they try and say,
23:41
this thing is not what you advertised, and they kind of try and balk at it,
23:44
blah, blah, blah, if something happens, so, you know, they just basically cry.
23:48
But anyways, so that's basically how that transaction works.
23:50
Now, in any even, you know, higher profile, like say F40s, 288 GTOs, along
23:55
those lines too, any of those, and like say, you know, any car that you're
23:59
talking million, two million plus.
24:01
That's basically the whole process, how this works.
24:03
But, you know, with these lesser cars, I say lesser cars, thank goodness,
24:06
that didn't sound right, did it?
24:08
But with the old, say, 288s, F40s, F50s, those kind of things, you know, you
24:12
know, it's basically the same process.
24:13
There's our, hey, proof of life, everything like that, but it's
24:16
going to happen a lot quicker.
24:17
You can usually do that in a week or two because, as I said, the
24:19
dollar amounts aren't all that big.
24:21
And, you know, getting those cars kind of verified and checked out is pretty
24:25
straightforward because, you know, 288 GTOs weren't raced, you know, they had
24:29
their Evos, stuff like that, you know, a few F40s out there, they had F40 GTs, uh,
24:34
they had your F40 LMs, you know, those ones are racing and everyone wants the F40
24:37
LM, uh, GT not so much, which is weird.
24:40
But anyways, um, no, you have those.
24:42
So again, same process, but it just goes a little bit quicker.
24:45
So anyways, um, kind of GTO.
24:48
Cause the other thing I want to talk about, and I'm sure a lot of you
24:50
guys see this now, as we all know, Ferrari gloriously won the hundredth,
24:55
Running of the 24 Hours of Le Mans this year and they did it, you know,
25:00
coming out of the gate with their 499.
25:03
Car is phenomenal.
25:05
That is just a one phenomenal car.
25:07
Now, this was kind of the shocker.
25:09
I'm going to take a drink of my pop.
25:13
What Ferrari did, behind the scenes, is they went and built a
25:20
customer, track, track only, because obviously, you know, not street legal,
25:25
track only car that you can buy.
25:27
Can't race it.
25:28
It's not for any race series because it's not that hardcore,
25:31
but I mean, it's hardcore enough.
25:32
It's a track only car and it's kind of, you know, under their program
25:39
that, you know, where they have the old F1 cars and that kind of
25:42
stuff that they, they run for you.
25:44
They'll store them for you.
25:45
Just, you ring them up and say, hey, I want to be here.
25:47
And then they do special events and hey, they talk truck on there.
25:49
But They built these things and they're selling them to customers
25:55
that, Hey, they want to have that experience and they want to drive that.
26:02
I don't want to say exact car, but I mean pretty damn close and go out and
26:06
have some fun with it on track only days because that is the big thing.
26:09
And I'm sure a lot of you out there that are in the know or you don't follow
26:12
what's going around is, you know, the big blow up and thing now is these,
26:17
all these private track facilities that you got your garage condo, they
26:20
have a track, everything like that.
26:22
And these facilities are awesome.
26:24
They're phenomenal.
26:24
And obviously they're catering to people with very, very deep pockets.
26:29
And if memory looking at that, I should have checked this for I think,
26:32
but I think those cars are seven to 9 uh, cars, modif, modifica, I think as
26:38
it's pronounced by Italians, terrible.
26:40
Um, but anyways, you know, that's for these guys.
26:43
I can't remember how many they're building.
26:44
Um, That should do my homework a little bit more before I
26:46
start doing my podcast, huh?
26:48
Yeah, but anyways, hey, this gives you guys something to do as you're listening
26:50
You can pull it up or have you drive and give you something to kind of look
26:53
up and you know Check the facts and see it gives you a little homework to do.
26:56
But anyways, you know So they pulled the obviously rabbit out of the hat.
26:59
They also dropped that bomb.
27:00
It's like god, that's awesome Yeah, I mean, you know how much fun that
27:03
would be to have one of those?
27:05
I mean, it's a little, it's a little mom's winning car, basically, you know?
27:09
So again, thing is you got to have an expert team to run it.
27:13
So first you got your expense of the car to every time you go and run it,
27:17
say you go out to the thing and you do, I don't know, 30, 40, 60 laps.
27:21
Let's just say having some fun that right there will probably cost you.
27:25
Oh, I don't know.
27:26
40 60 grand got tires, the crew, all the stuff, maybe close to 100.
27:33
I don't know.
27:34
I mean, uh, I'm not in that position to be able to know that,
27:38
uh, you know, paying that bill.
27:40
But anyway, so that's kind of a cool thing that they came out with.
27:43
So I was very happy about that.
27:44
It's neat to see them doing that.
27:45
But again, hey, it's a cash cow for him.
27:47
And I think you're gonna see a lot more of these.
27:49
Those type of scenarios were to take in their race car like that and do it.
27:53
You know, look at what, uh, what's that, Rodin, whatever they're doing,
27:56
those guys out of New Zealand.
27:57
Uh, you know, basically taking that F1 car and, uh, doing that.
28:00
And again, won't be any race series, won't be anything like that.
28:02
You know, not gonna be, you know, it's just a track toy for
28:05
someone that's got deep pockets.
28:06
Now, that one's, I think, is a little more simplified in, in how it runs and
28:10
operates as compared to that Ferrari 499.
28:13
Um, but anyways, that's the big thing.
28:15
That's where things are going.
28:15
You got people that got this kind of money.
28:17
They want to have that experience.
28:18
I mean, they're never gonna You know, race an F1.
28:21
They're never going to do that, but they can get it.
28:22
They're never going to race at Le Mans, but they can get that car and have it,
28:25
you know, and showcase it and run it and do everything, you know, and, you
28:28
know, in reality, as long as you do what you're supposed to do with the car and
28:33
everything, maintenance wise, upkeep, the whole nine yards, uh, which you would
28:38
assume they would do, you know, their car is just going to go up in value, you know?
28:41
So these guys that get first in with these cars.
28:45
Get, you know, I would say asked or get, uh, gifted or, you know, get that,
28:49
you know, golden ticket that, hey.
28:52
We'll sell you one, what you want.
28:53
And you know, you don't say no, you buy it.
28:55
Yes, I'll take one.
28:56
Thank you, sir.
28:56
May I have another scenario?
28:58
No, because that's the big thing is being on these lists and everything like that.
29:01
And you know, you spend all this money on other, other, uh, lesser
29:05
models and stuff like that, that gets you into the candy land.
29:08
So anyways, so I thought that was kind of cool, but anyways, all right.
29:11
I'm going to let you guys go.
29:13
Uh, I think I've rambled on enough.
29:15
And again, so I'm going to do my damnedest to try and do more of these.
29:18
Um, and get out there because there's some other things, you know, I'm hopefully
29:23
I got planned here in the next week or two, hopefully, hopefully doesn't fall
29:27
through to drive that new 296 and I'll give you kind of a little rundown on
29:31
how that was and that car is supposed to be a lot of fun, you know, supposed
29:34
to be their entry level car, which you're still spending 400, 000 on, but
29:38
anyways, so we shall see, but again, I really appreciate you guys listening.
29:43
Uh, and if you want, you know, check out the YouTube channel.
29:46
Uh, it's garage 65.
29:48
I've.
29:48
You know, it's just, it's the word garage, it's the word 60 and then the number five.
29:52
Uh, so check that out.
29:54
You know, we're doing a lot of YouTube channels.
29:55
I do have the Ferrari marketplace channel as well on the Porsche
29:58
marketplace channel, but.
29:59
I kind of dump everything into the garage 65 channel because it just kind
30:02
of encompasses everything I like going to a lot of the shows like Amelia
30:06
Island Pebble Beach that kind of stuff So take a look check it out like it
30:09
subscribe to it Try and go because we're gonna try and do a lot of fun things
30:13
In 2024 with it and we got a lot of fun of exciting things coming ahead.
30:16
So again guys, I really appreciate it spread this around doing
30:21
everything I can and Everyone.
30:23
I know you probably won't listen to us by, uh, tomorrow, which is Thanksgiving,
30:26
but I hope everyone had a great holiday and, uh, hopefully get this next one, uh,
30:29
out and, uh, have a great holiday season.
30:31
Thanks guys.
30:32
Cheers.
30:38
This episode has been brought to you by Grand Touring Motorsports as part
30:41
of our motoring podcast network.
30:43
For more episodes like this, tune in each week for more exciting and educational
30:47
content from organizations like The exotic car marketplace, the motoring
30:51
historian, brake fix, and many others.
30:53
If you'd like to support grand touring motor sports and the motoring
30:56
podcast network, sign up for one of our many sponsorship tiers at www.
31:01
patreon.
31:02
com forward slash GT motor sports.
31:04
Please note that the content, opinions, and materials presented and
31:07
expressed in this episode are those of its creator and this episode has
31:11
been published with their consent.
31:12
If you have any inquiries about this program, please contact the creators
31:16
of this episode via email or social media as mentioned in the episode.