My Very Own Ferrari
From the Print Edition:
Rush Limbaugh, Spring 94
(continued from page 1)
"Over the last two years, the average price was down about 40 percent," Roush says. "The first six months of this year, the average fell just 5 percent."
But none of these experts sees the market shooting back any time soon, and certainly not to the level of the crazy '80s.
"The market is still being held down by a lot of 'bankruptcy' sales," Roush says. "Banks and lending institutions own cars, and after awhile they're ready to take a loss and write it off. That's why there are some freak bargains out there."
"In the long run, they will appreciate, but it's not going to happen in a year or two," Gooding believes. "It's going to take five years plus before we start to see things turn around."
And what is the cost of some of those "bargains?"
"Dino Spyders are in the $70s; coupes are in the $60s" Roush says. "The 308's are generally in the $30s. You can get a 308 GTS for $35,000 to $37,000. A 308 GTBi that cost $48,000 new, you can get for $35,000."
For larger pocketbooks, a 512 BBi Boxer should be about $120,000, a 275 GTB or a Lusso can be had for under $200,000. The GTB 4 is about $300,000, and a GTO about $3 million or so.
"Everything out there is a bargain, compared with what they once cost," Sheehan says. "So buy whatever you like. If you're buying to make money, you're making a mistake, but if you like it and have always wanted it, buy it."
Mike Knepper is a free-lance writer who specializes in automotive subjects.
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