Fair price for a RF GT40?

[Ravenoak1]

I appreciate a lot of work goes into a GT40, but this would probably be a little expensive for a 25000 km old GT40?

http://www.carpoint.com.au/DesktopDe...&Nne=15&D=gt40

I know it is hard to be unbiased when we all love GT40's but this seems like a lot of money to me? Maybe I am out of touch. Any thoughts

[Bill D]

That works out to $123,000USD. Seems way over priced

[Andrew E]

I suppose at the end of the day a car is only worth what someone is willing to pay.

This sometimes doesnt take into account the cost or the true value to the owner. IMHO the price this car is being advertised for is about the true value or cost to build a good quality RF here in Aus. I know mine has cost me around this figure hence probably not too far over the top to ask for. A friend of mine just had his RF valued by an automotive valuer and came up with a figure between $160K to $180K.

The deadline for registration of 302 RFs is December this year and anyone looking for a GT40 replica with the traditional V8 the ability to register has all but ceased which may increase the values of registered older builds. Any new RF's will have to be built with compliant modular V8s.

Just my thoughts

[Jim c]

I agree Andrew the amount of hours spent on these cars it would be nice to see something back if one did sell.

If the owner has spent 100k in parts 40k or so is not unreasonable for the effort.
Different countrys seem to have different values.

Jim

[Dave S]

Funny because I was thinking that asking 80ish for my new 302 DRB was probably a big ask.

[Dean Lampe]

I would like to show someone a seriously built RCR for 123K USD!

[Bill Hara]

I remember a time in the late 90's when GT40's were not so widely known or available here in Oz, original cars were many hundreds of thousands of dollars, a replica monocoque from NZ was selling in 1994 for $300k, an imported GTD would cost about 40K GBP or about $120KAUS (3 to 1 back then) imported into Aus. An ERA was about $85kUS complete and imported to Aus making it about $170KAUS due to the 2 to 1 currency exchange rate back then.
In this environment, DRB and RF came into being offering cars that were substantially less than this, $100 -$120K on road and complianced to Australian design rules, which the others were not.
In the subsequent years, many other manufacturers both existing and new came out and found ways of challenging these companies in both price and specification and then, most importantly the exchange rate started to change making US - UK - SA cars much more affordable and Aussie built cars much less so. The cars you see on sale are the products of those times and reflect what owners have paid and therefore they are setting the value of these cars. It is a costly enterprise to achieve Australian compliance on these vehicles and one that I doubt international manufacturers would be willing to pay to achieve. If I was to sell my car overseas I know that it would be worth almost half of what they go for here. It would be possible for someone in Australia to order an RCR or a Tornado/MDA/CAV and then modify it to meet all the regulations here however it would be a pioneering road and the final costs would still be a bit of a mystery.
This is just my opinion of why we see such a difference in pricing b/w cars sold in Oz compared with prices in the USA and UK, I'm sure others can come up with a better explanation.

As an aside, is Australia the only place where GT40's need to comply to modern emissions and design rules?


Cheers

Bill.

[Ravenoak1]

Originally Posted by Jim C

I agree Andrew the amount of hours spent on these cars it would be nice to see something back if one did sell.

If the owner has spent 100k in parts 40k or so is not unreasonable for the effort.
Different countrys seem to have different values.

Jim

But lets not forget this is not a new car, it is now 3 years and 25000 kms old. Surely it is not worth the price of a brand new build car or roughly the cost it was 3 years ago?

[JackW]

There could be supply and demand factors here as you don't see that many GT40's for sale here in Oz. And yeah, he could just be asking too much. That said I have seen some factory built DRB's offered for sale with prices in the "offers only above 150K" range.

JW

[ChrisL]

There have not been enough GT40 replicas on the market here is Aus to really establish a solid trend but I have never seen a road registered GT40 advertised for under $120K. And since then, compliance has become more difficult to achieve so pushing up the prices of the new and old cars alike.

I would add to this too by saying that I can't think of any real challenger in the market here in Aus, even at that price. The closest might be a used Lotus Esprit or Exige. A 1970s Maserati or Ferrari maybe. I have seen some Ultimas around but they are far more expensive. I'm not sure that I would place the Cobras in the same market either. Can anyone add to this? Are Nobles available in Aus yet for example? Nothing really seams to fit the same niche.

[StuM5]

Originally Posted by Ravenoak1

But lets not forget this is not a new car, it is now 3 years and 25000 kms old. Surely it is not worth the price of a brand new build car or roughly the cost it was 3 years ago?

Without the competition of a more recently built car up for sale there is reason for the seller to offer it for less. If you're keen on it make them an offer based on what you're prepared to spend, you might just get an acceptance.
It's the 4th formally advertised GT40 in Aus I've seen for sale this year, the cheapest being the red one with the Lexus engine. DRB recently advertised (as Jack mentions) in Unique Cars but wanted offers over $150K and the two shown recently on this site.

cheers
Stuart

[Bill Hara]

I was just thinking about Chris L's comments re comparable cars here in Oz and thought I could compare it to a vehicle readily available in both Australia and the USA for similar money, so I'll use the Ferrari 355 as an example.

In the USA the average price is between say $50K and $80K US depending on specification, berlinetta - targa- spider etc. This is roughly equivalent to GT40 replica prices in the US, again depending on manufacturer and specification.
In Australia, a Ferrari 355 sells for approximately $160K - $180K AUS again depending on the specification. GT40 prices in Australia have been seen b/w $105k - $150k+ AUS, representing better value to the Aussie buyer than a 355 Ferrari when viewed against the US price comparisons. Besides which, the GT40 is a MUCH nice car to look at/drive/own and more exclusive too.

I think this illustrates the "value" of the GT40 in Australia; for a complianced and registered vehicle and perhaps goes some way towards justifying the prices that are shown in these mags and on the forum. That being said, I think that it is equally possible for a home built GT40 from the UK/US/SA to be brought up to Australian compliance standards, maybe even cheaper than what it costs to self-build an RF or a DRB..... or maybe not. I suppose that is the real $120K question.

My .02c

Bill.

[Robert Shepherd]

The yellow RF advertised for sale is an outstanding example. I watched this car throughout its build and have seen it on many occasions since its completition. It was built to a very high standard by a very qualified person and incorporated the best of everything. Although it has covered 25,000 km it had had a very easy life and has been exceptionally well cared for. Most of its driving has been on long open road trips with a seriously enforced speed limit of 100 or 110 kph.

[Ravenoak1]

Originally Posted by Robert Shepherd

The yellow RF advertised for sale is an outstanding example. I watched this car throughout its build and have seen it on many occasions since its completition. It was built to a very high standard by a very qualified person and incorporated the best of everything. Although it has covered 25,000 km it had had a very easy life and has been exceptionally well cared for. Most of its driving has been on long open road trips with a seriously enforced speed limit of 100 or 110 kph.

I agree it looks like a fantastic example but it is still a secondhand kit car that has covered 25000 km. Kms are always a factor in every single car that sells and the ease of which those kms are done are not always taken into account. At the end of the day if someone is prepared to pay nearly $150k for the car my argument falls flat on its face. For that money you can get a decent 355 Ferrari.

[Bobski]

Originally Posted by Ravenoak1

I agree it looks like a fantastic example but it is still a secondhand kit car that has covered 25000 km. Kms are always a factor in every single car that sells and the ease of which those kms are done are not always taken into account. At the end of the day if someone is prepared to pay nearly $150k for the car my argument falls flat on its face. For that money you can get a decent 355 Ferrari.

Ravenoak
Do you really want to buy a 355 and be part of the crowd, or do you want to own a legend?

[Ravenoak1]

The GT40 is still one of the most exciting and memorable cars ever built. However, let us not forget we are talking about a replica of the legend whereas the Ferrari is a factory built car and is widely admired and more importantly valued.

[Bobski]

Yes good point, but there are thousands Ferraries in Aus and only about 60 approx GT40 MKI and only 2 GT40 MKII in Aus. I love Ferarries and the Lambos even more, but anyone with a big wallet can own one, and yet the performance isn't what you'd expect. I like to be different and that comes at a cost.

[StuM5]

I would think the costs (service, parts, insurance etc) of running a F355 would be somewhat more expensive than maintaining a GT40?

cheers

[HILLY]

Ravenoak.
It sounds like the Ferrari is the best option for you given your line of thinking.
If on the other hand you 'really' wanted a 40 and you were to invest the money and more importantly the time to build an RF (or other replica) for yourself your thoughts on value may be somewhat different.
Bills analysis of relating the 40 to a 355 demonstrates the price comparisons between the US and Australia markets. If in your comparison between the two vehicles the value was gauged by factors such as uniqueness, attention generation and owner satisfaction the 40 would be much more valuable than the Ferrari. But that is my opinion and I have never owned a Ferrari.
You on the other hand would choose the Ferrari but never the less the asking price of the yellow 40 is what it is worth to the owner and by the sounds of the testimonials would not be too far from the cost when an allowance for labour is taken into account for a quality build.
Just my 2c from this side of the fence.

[Dimi]

All this comparison between a GT40 and any other car is a useles