2.4 Spider Just Sold at $119,500

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2.4 Spider Just Sold at $119,500

Postby abarth4 » Wed Nov 30, 2016 12:12 pm

http://bringatrailer.com/listing/1972-fiat-dino/ Interesting data point regarding 2.4 Spider values.
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Re: 2.4 Spider Just Sold at $119,500

Postby Tobi » Wed Nov 30, 2016 1:17 pm

Thanks for letting us know! This is very interesting since this indicates real prices instead of ridiculuous asking prices. Unfortunately, we usually don't hear much about real selling prices.
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Re: 2.4 Spider Just Sold at $119,500

Postby HugoHarris » Wed Nov 30, 2016 9:31 pm

You certainly can't argue when the market speaks with an auction result. But the price realised seems at odds with other pointers, not only asking prices (which range up to €250k+ but could be fantasy trips) but also private sales (I hear from a well informed member of the trade that 2 spiders changed hands at the Padua show in Oct for >€200k, but this is of course second hand information). Maybe the bubble is burst. But last weekend's RM sale in Milan would seem to indicate the contrary. In spades. No Dino Spiders, but €50k or more I recall for a rough looking coupe and top, top money for lots of other 60s/70s Italian exotica. Personally I don't care much, but I see a rising market for good cars and my guess is this BAT result will prove an outlier, possibly down to time of year, BAT's limited reach for buyers in the mid range of the market and bad timing coinciding with the Milan sale. Does anyone know the car in question? It looked like decent driver.
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Re: 2.4 Spider Just Sold at $119,500

Postby Argonaut » Thu Dec 01, 2016 7:49 pm

My 2 Cents,

it is always difficult to say what this car is really worth. It is for sure an exceptional car... the Spider and the Coupe (including all stories around circumstances how this came on the road). Besides the technical special spec both samples are having an extraordinary design... just the Brand FIAT was hindering those cars to be valued enough.
If you are giving a 2.0/2.4 Spider for a full restoration to 24hundred it will cost you more or less 80-100 K Euros (including everything). Besides this fact you need to buy a sample (and an ok sample 3-4 years back was around 50 K). Then you will have a good Dino Spider which makes now 150 K.
The bad story about the FIAT Dinos was simply that after handed over in the 70ies to second hand drivers most of them were maintained badly and only a few by enthusiasts. Therefore, only a few spent the needed time and money but just kept them going somehow (the latest movie of 24hundred is a nice story about this fact). I know enough of those still running around (or sitting :shock: ). Now, with the Coupes it is even worse as prices were always significantly below and repairs on the body more expensive.
Unless you are not a mechanical expert you cannot lower the costs significantly.

So... if I do look at the sold sample... it looks used but in a fair condition, rating this car maybe something between 2-3. You can hopefully drive this car for another 5-15 years before undergoing a full restoration but... investing the right amount of money into technical areas. Therefore, the price seems to be ok.

And I am not talking about those guys who are trying their 2.4 Spiders for 250 K in a similar condition just because they are swimming on this wave of making the fast money out of it.

I had 4 Spiders and 3 Coupes in my life and I have seen a lot of crab around. The situation right now is misleading as everyone thinks he/she can ask for at least 150 K.
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Re: 2.4 Spider Just Sold at $119,500

Postby Tobi » Thu Dec 01, 2016 8:04 pm

You might be right, but I still doubt these 80-100K€ for a full restoration. This only applies to the tin jewelers at the top end. But there are still some shops who meet 90% of the service for 50% of the price. Moreover, it wouldn't make sense to give the Spider of this deal a full restoration. It wouldn't cost much less than for a rusty car with a roughly running engine. As you said, this looks like a great driver for the next years with moderate maintenance. So, it's OK for somebody who wants to have fun with it. You can't have this with a perfectly restored car unless you want to burn 20k€ with the frist ride.
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Re: 2.4 Spider Just Sold at $119,500

Postby HugoHarris » Sat Dec 03, 2016 10:48 pm

I agree Argonaut. The market probably does not sufficiently value a proper restoration. Probably because so few of these cars are restored. They were allegedly built out of cheap Russian steel, and some out of sight areas probably started rusting when they left the Pininfarina plant - cavities in the sills, etc seemingly had no factory rust protection at all. With Dinos, the cost of resotration is inversely proportional to market value. Putting a Fiat Dino Spider right is more costly than a 246GT/S in equivalent condition, because of the more complex monocoque construction. The Coupes are even more involved. For my sins I am putting my car through a full restoration at 24 Hundred. Mark Devaney has one standard: tool room perfect, and that comes at a cost. He fabricates panels using traditional methods, English wheel, etc. I will be posting a blog of his work on my car in the coming months. I also agree with Tobi, we should drive these cars and not polish them. But some areas of the body on my car needed serious attention and one thing has led to another...
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Re: 2.4 Spider Just Sold at $119,500

Postby Argonaut » Mon Dec 05, 2016 9:51 am

Here a good example from Germany.

http://suchen.mobile.de/fahrzeuge/detai ... eyeCatcher

a NOOB offering a 2.4 (???) from 1968 with the registration number 811 in condition 3 for 144 K.
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Re: 2.4 Spider Just Sold at $119,500

Postby Tobi » Mon Dec 05, 2016 10:09 am

Argonaut wrote:Here a good example from Germany.

http://suchen.mobile.de/fahrzeuge/detai ... eyeCatcher

a NOOB offering a 2.4 (???) from 1968 with the registration number 811 in condition 3 for 144 K.


I'd be very careful with this. The VIN is from a 68 Spider 2000.
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Re: 2.4 Spider Just Sold at $119,500

Postby Argonaut » Mon Dec 05, 2016 10:36 am

That's, what I am saying, Tobi.
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