by Mike –
A post on Ferrari Chat dated October 12, 2013 begins,
Many years ago my father bought a ’67 330 GTS and kept it in his garage ever since. He passed away several years ago and my mother doesn’t know what to do with it.
And so begins an interesting story about a 1967 Ferrari 330 GTS that I wrote about yesterday. I saw this Ferrari Chat post after I published this article – A Ferrari Sleeping Beauty Has A Coating Of Grime, Spots Of Surface Rust…
Below I summarize the 110 messages from this Ferrari Chat thread.
A forty-one year old company executive (who lives in Texas), trying to help his elderly mother (who lives in the North East US) sell the 1967 Ferrari 330 GTS that her husband had bought about 45 years ago, posted on Ferrari Chat looking for advice.
In this Ferrari Chat thread the son is given a lot of advice from Ferrari Chat readers – after they beat him up at the beginning because they could not believe this was a real request for advice about such a rare Ferrari.
The son admits that he knows little about Ferraris and this car has been sitting covered in his mothers’s garage these many decades. His long deceased father never did get around to repairing the car since he bought it from the previous owner in 1969 after it suffered an unfortunate engine bay fire.
The father (owner) had started removing parts from the Ferrari like the headlights, badges, door handles, mirrors, red leather door covers, center console, etc…The son is not sure why his father did this but in my opinion it was likely the beginning of repairing the car, getting it ready for new paint maybe and getting it back on the road. But he was not able to complete this for reasons I do not know, maybe his death but even before that he did not make much progress.
Below is a photo of this Ferrari partially disassembled.
The son says he does not remember the car being uncovered nor does he remember his father doing any work on this Ferrari. The son was considering getting the car running or having it restored and maybe having some fun with it and then sell it. But his mother had a different idea.
His mother sold the car for “about $1 million” to a dealer and maybe another dealer was involved – it’s not clear. This Ferrari 330 GTS is now scheduled to be auctioned at the Gooding auction in Arizona in a few days.
Some of the son’s comments,
Odometer and steering wheel may not be original. Father purchased it at auction in 1969 so he was not original owner.
It has been in our garage under cover since 1969!
Given the condition and completeness of the vehicle I think it was a good transaction (not great). For full disclosure, we found what we believe to be the original instruments in a box in the attic with other parts and the odometer had 36K kms (European model). I was counseling a little more patience, but my mother felt that she had a bird in the hand and wanted to be done. I certainly understand her decision given her circumstances.
It appears that when this Ferrari was put back together by the new owners (and now sellers) they were careful not to disturb that very important “dirt patina”. When I look at the photos on the Gooding web site I cannot tell that many of the parts had been removed and then replaced on this car. It is also interesting to see that they use a dirt field as the photo shoot location for this Ferrari. That is free dirt patina!
The Gooding web site does not publish an estimated price range for this Ferrari but David Gooding was quoted in an article in the “New York Times” where he said he expected the car to sell “in the neighborhood of $2 million.”
The elderly widow of the owner of this Ferrari who had this car in her garage for 45 years gets “about $1 million” while the auction company and the dealers get another $1 million if Gooding’s estimate is correct.
If my math is right then the elderly widow is paying about a 50% commission to sell an investment that her deceased husband made in 1969!
That’s something to think about.