by Mike –
On the cover of the August issue of “Hemmings Sports & Exotic Car” magazine is a beautiful photograph of a Ford powered Iso Grifo series 2 owned by Bill Rice.
Here are a couple of other photos of this beauty sent to me by Bill Rice. A Jensen Interceptor photo bombed the Iso.
The article was generally informative but there were a couple of mistakes, like identifying this car as a 1975 model.
I asked Bill why the magazine article identified his Grifo as a 1975 when the last Grifo made was in 1974. The article even mentions that Iso shut down in 1974. I thought it was possible that Bill’s car was first registered in the US in 1975 and that would mean it was a 1975 even though it was built and shipped from the factory in 1974.
I also asked Bill why the estimated values listed in the magazine are about half of the current market values. I thought it was maybe something he said? Just kidding, Bill knows his Iso values as well as anyone.
Here is Bill’s edited reply,
I don’t know why they call it a 1975 the car is a 1974 model year, and the ’74 NY Show Car for Iso.
I have no clue where they get their values. They did a cover article on my Miura SV in ’08 and also understated values by almost 1/2.
In the magazines “What to Pay” section of this article they say,
Low – $123,000
Average – $145,000
High – $186,000
In the latest issue of the “Hagerty Price Guide” the price range is $182,000 to $339,000 (condition 4 to condition 1) for a 1974 Iso Grifo. Plus I know of a couple of these Ford powered Iso Grifos that could be for sale and they are near, or above, the Hagerty numbers. Hemmings is a few years behind the times on values for the Iso Grifo. And maybe for other cars as well.
However, if anyone has a series 2 Iso Grifo for sale at the Hemmings numbers please send me an email at mike@mycarquest.com and let’s talk.
Bill was also the owner and seller of what I call the purple Iso Grifo 7 Liter which sold at auction last year for what I believe to be the highest public price paid for an Iso Grifo, $352,000.
Iso Grifo 7 Liter
Does anyone want to write a letter to the Hemmings editor and ask them why their prices are so far off from reality?
Become a Member of My Car Quest today and read it all – click the image below.
I’ve been working on this for years, sometimes more successfully than others. The most recent version of Sports Car Market Magazine’s value guide shows the Grifo at $210,000 to $300,000, so they’ve made some adjustments but are still not there yet (and they continue to publish the 30 year old outdated notation about “add $7,000 for 427 V8; $2,500 for long-nose model. Deduct $2,500 for 351 V8.” For some reason I can’t get them to take that out. I’ve worked with Hagerty’s on their price guide as well, and have made headway with them (see photos of my car in their online guide). Looks like a word with Hemmings is in order!
Darren,
I am aware of your work in this area for the Grifo which is terrific. I don’t know why Hemmings is so far behind the knowledge base. It is negative for both buyers and sellers to publish data that is so far from reality.
I’ve just written to SCM to remove the Grifo variations value notation. My next email is to Hemmings. Eventually they listen…
Darren
It sums up what SCM and Hemming’s are IMO …….not current and not accurate. Ten years ago this wouldn’t mean that much, but today with the amount of data and info available( almost real time) it shows how much of a dinosaur these companies have become. Time for Car Quest to step up and take the helm!
Darren – you are going to love the My Car Quest post on Thursday morning!
I did, indeed!!! Thanks, Mike.
Darren