Ferrari 250 GTE restoration
Discussion
TonyHetherington said:
At least, through all of this, we've learned your username is possibly the most accurate on all of PH 
Haha. Yep, it came quite naturally to me that did. Love the white Exige S you had. I was recently (2 weeks ago) over in Italy on my BMW GS1200 Adventurer doing a bit of a road trip to Switzerland.I was taking a ten minute breather before going through the same tunnel that's used in the opening scene of 'Quantum Of Solace' where James Bond is in his DBS getting chased by the Alfas.
Anyway, there was a lad from London who worked for the RAF intelligence (sorry mate hehe) and he was waiting to be dropped in Libya. He got the pilots of the chinooks to drop his car of in Italy so he could blast the Gotthard and Stelvio before he had to leave. And what was the perfect car he had for the roads........a limited edition Lotus Exige S Roger Becker in white, signed by the man himself.
How very James Bond is that
I wasn't driving the Exige enough, unfortunately. I play the drums in a band, and so had a Focus for that and the Exige for fun, but months would go by without me driving it and £25k was a lot to have sitting in the garage for a long time. I did decent(ish) mileage in it - 10k in 15 months, but that was all on European trips and UK driving weekends. I'd do those, add 1k miles, then put it in garage for another 3 months etc.
I worked out for the time I was using it I'd actually be better off hiring them (though it's not as fun as owning one, of course). So I sold up both the Focus and Exige into 1 car that was still quick but could take a full drum kit - hence the S4. It's the 4.2 V8 so fun when I want it to be
My dad and I are building a kit car too, so that's on the horizon too for open top fun (should be completed this year).
A shame the Exige had to go, but was the right decision - even though not the most fun
How come the CGT has gone this morning?
I worked out for the time I was using it I'd actually be better off hiring them (though it's not as fun as owning one, of course). So I sold up both the Focus and Exige into 1 car that was still quick but could take a full drum kit - hence the S4. It's the 4.2 V8 so fun when I want it to be
My dad and I are building a kit car too, so that's on the horizon too for open top fun (should be completed this year).A shame the Exige had to go, but was the right decision - even though not the most fun
How come the CGT has gone this morning?
TonyHetherington said:
I wasn't driving the Exige enough, unfortunately. I play the drums in a band, and so had a Focus for that and the Exige for fun, but months would go by without me driving it and £25k was a lot to have sitting in the garage for a long time. I did decent(ish) mileage in it - 10k in 15 months, but that was all on European trips and UK driving weekends. I'd do those, add 1k miles, then put it in garage for another 3 months etc.
I worked out for the time I was using it I'd actually be better off hiring them (though it's not as fun as owning one, of course). So I sold up both the Focus and Exige into 1 car that was still quick but could take a full drum kit - hence the S4. It's the 4.2 V8 so fun when I want it to be My dad and I are building a kit car too, so that's on the horizon too for open top fun (should be completed this year).
A shame the Exige had to go, but was the right decision - even though not the most fun
How come the CGT has gone this morning?
Fair comment man, I sold my E92 M3 about 5 weeks ago because i wasn't using her and it made me sad thinking that it was sat there gathering dust, i'm talking 2 weeks at a time before i even turned her over. I have a FFRR as well so i was using that a lot, plus i have the choice of my motorbikes as well so the M3 just got overlooked. I worked out for the time I was using it I'd actually be better off hiring them (though it's not as fun as owning one, of course). So I sold up both the Focus and Exige into 1 car that was still quick but could take a full drum kit - hence the S4. It's the 4.2 V8 so fun when I want it to be
My dad and I are building a kit car too, so that's on the horizon too for open top fun (should be completed this year).A shame the Exige had to go, but was the right decision - even though not the most fun
How come the CGT has gone this morning?
I got rid of her and then bought the Bentley as an impulse buy (you boys on PH will come to realise this about me haha).
I had the Bentley just under 3 weeks and basically wasn't using it, it's not really a car to blat on the A roads so unfortunately for my wallet it went this morning.
I've never been longer than a week without a toy to play with so i'll definitely have one by this weekend.
I was looking at a Ferrari 360 Spider but i've already had a 360 coupe and we didn't get on that well, i'm looking at a GTR but to be honest it's not really appealing to me, no matter how much i try to sell it to myself. So it looks like it's back to an Aston again.
My wife is getting a bit fed up now with it all so i think whatever car i buy next i'm gonna have to stick with it for a while. At least it'll give me more time to spend on this restoration.
Great project and best of luck with it. It's lovely to see a classic restored and I think it would be a very rewarding experience to auction it off afterwards so fair play to you. Have you driven a 997 GT3 as they are a fair bit more fun than the vanilla 997. Just thought I'd give it a mention as it's a fair competitor for the GTR.
2manycars said:
Hi Guys
Thanks for all the good luck and nice comments.
I know a lot of people have said to me "why don't you buy a broken one and fix it up, it'll be cheaper"
I totally understand what everyone is saying on that matter but my main reply is "where's the fun?".
I know i could buy one from the states and totally revamp it up in no time at all. However i bought this project to keep me busy, i don't have any kids that need my attention. The wife has her projects that keep her busy so i wanted something to do with my idle hands.
Also i think i'm going to get a lot more satisfaction from the fact that i have absolutely no experience in fixing cars and i'm taking on a classic Ferrari.
Besides when it's finished i'll be looking at auctioning it off and the proceeds can go to Great Ormond Street Hospital for sick children. Then i'd like to move on to a DB5 and auction that off.
I'll be posting some more pictures of my previous cars soon, i'm just trying to get over the fact that this morning i've just got rid of my Bentley GT Mulliner for absolutely no apparent reason
It is going to be replaced by either a Britsh V8 or a Japanese 3.8 V6 this weekend so watch this space.
Cheers
Pete
Fantastic project and an incredible gesture! I wish you all the best with the project and the auction (this will be a long way away I expect!) Can't wait to see more pictures. I've bookmarked this thread and await with anticipation. Thanks for all the good luck and nice comments.
I know a lot of people have said to me "why don't you buy a broken one and fix it up, it'll be cheaper"
I totally understand what everyone is saying on that matter but my main reply is "where's the fun?".
I know i could buy one from the states and totally revamp it up in no time at all. However i bought this project to keep me busy, i don't have any kids that need my attention. The wife has her projects that keep her busy so i wanted something to do with my idle hands.
Also i think i'm going to get a lot more satisfaction from the fact that i have absolutely no experience in fixing cars and i'm taking on a classic Ferrari.
Besides when it's finished i'll be looking at auctioning it off and the proceeds can go to Great Ormond Street Hospital for sick children. Then i'd like to move on to a DB5 and auction that off.
I'll be posting some more pictures of my previous cars soon, i'm just trying to get over the fact that this morning i've just got rid of my Bentley GT Mulliner for absolutely no apparent reason
It is going to be replaced by either a Britsh V8 or a Japanese 3.8 V6 this weekend so watch this space.
Cheers
Pete
My friend bidded in a charity auction for Cancer Research for a ride out in a Bugatti Veyron and won. The owner was a really nice guy and showed my friend his collection of cars in various garages. Some beautiful cars in his collection including some classics IIRC.
Also interested to see what you buy this weekend! I've just sold my boat and am considering buying a weekend car. Possibly selling my Octavia and spending a bit more on one nice car, not as nice as an Aston, although a TVR Tuscan will also be a British V8!
TonyHetherington said:
You considered an R8? A friend has one and it is utterly superb.
Went to buy one back in 2008, arrived in my Aston, parked it round the corner and got treated like crap from the salesman. Took the R8 out eventually. He changed his tuned when he saw my car, how vain!!!!Was not overly impressed with it, very plasticy and it looks like every other Audi out there.
Not there is anything wrong with Audis, it's just that i was after something a little bit different and for that money i wanted something special. Besides, a GTR will eat it for breakfast haha
Best of luck with the restoration. I'll look forward to reading any updates you have.
Can you tell me if the car will need to qualify in any way for an SVA/IVA ? Just wondering how you would get a V5 for the 250 GTE ?
Can I also ask if you buy your cars new ? I was wondering about using them for a month and then selling them and how you deal with depreciation, if any ?
Thanks - John
Can you tell me if the car will need to qualify in any way for an SVA/IVA ? Just wondering how you would get a V5 for the 250 GTE ?
Can I also ask if you buy your cars new ? I was wondering about using them for a month and then selling them and how you deal with depreciation, if any ?
Thanks - John
John_S4x4 said:
Best of luck with the restoration. I'll look forward to reading any updates you have.
Can you tell me if the car will need to qualify in any way for an SVA/IVA ? Just wondering how you would get a V5 for the 250 GTE ?
Can I also ask if you buy your cars new ? I was wondering about using them for a month and then selling them and how you deal with depreciation, if any ?
Thanks - John
I have absolutely no idea about how to get a V5 for this, however i have been reading in depth about how Ferrari have opened up their back catalogue and are giving so much support to any one who are restoring their classic Ferrari, pre 1980 i think. Can you tell me if the car will need to qualify in any way for an SVA/IVA ? Just wondering how you would get a V5 for the 250 GTE ?
Can I also ask if you buy your cars new ? I was wondering about using them for a month and then selling them and how you deal with depreciation, if any ?
Thanks - John
And to answer your next question, (deep breath) It all started with a s
tty Ford Fiesta 1.2 popular back when i was 17. I bought it for £250 and drove it a hand full of times. I sold it a few weeks later for £750, 11 years on and the person still has it (it was a friend of the family). I then bought other cars like a Mondeo, a few 190 E's (manual and auto) etc,etc. At the time they were just to drive, i had absolutely no idea that it would lead to the cars i can have now.
Anyway i digress, i ended up selling these cars and making a bit of money on each one.
I then moved onto my first proper car, a Mazda 323F GTI (anyone remember them haha), it was there i developed a need for speed. I got this as a gift from my parents as it was originally my mothers (crazy i know, it had a full TWR kit on it and everything).
I started doing well in business and cars were the only thing i actually lusted after (well girls naturally but that goes without saying haha).
I then saved my money, started buying my nice cars like, a P38 Range Rover, 986 Boxster, E46 323ci, E46 M3 and so it kind of rolled on from there.
By the time i was 25/26 years old i'd been through E46 M3s, 645, Ferrari 360, Aston Martin AMV8, Bentley GT, 986 & 987 Boxsters, 997 (911) C4 Convertible, the list goes on.
The only car i've actually bought where i was the first owner was the Aston Martin AMV8, a word to the wise, don't do it.
I lost £30,000 in 5 and a half months, never mind the tyres i replaced, the petrol, the insurance, etc,etc.
Oh i also lost £12,000 on my Ferrari.
On the plus side though, i made over £2,000 on my 997, it had a shagged gearbox (thanks to a friend
), four bald tyres, numerous scratches, a whole heap of problems with it. However i did make this fully know before it was sold.I made money on the 645ci, money on one E46 M3, and i broke even on my 1st Bentley GT (basically free motoring in a Bentley for 6 months).
Depreciation is a b
h and getting into top end cars is not for the faint hearted, however if you pick your cars right then you should never lose money. I'm actually talking through some ideas with my friend and fellow PH'er about buying 4 997 coupes and running them for track days, he's trying to get me to buy a Zonda C12s and hire it out for days and weekends. Both are good business models to be fair.
I'm happy to give you a list of cars that will depreciation below.
Porsche 997 (i'd pay no more than £25k for a 2004/54 model, seal grey, silver and black are best colours, stay away from guards red. Keep the leather black, blue is an iffy one, tan is a no no. Mileage should be 60,000 and below for best resale value).
Porsche 997 Turbo (you'll see early models drop to their low 40's this year, again follow advice from above, cobalt blue sells well).
BMW E90/E92 M3 (there are so many of these cars that have been ragged that people are side stepping them, add the fact that a full tank will return about 180 miles even with a light foot and that they are losing their coolness)
BMW E60 M5 (these have absolutely crashed, but they will crash even more, this year you'll see them in their mid to low teens for a 2005 60,000mileage example)
Audi RS4 (a lack of interest in these thanks to the A5/S5/RS5 has show the price slowly and steadily decline, however if you go to sell a sprint blue 2005 salon with 45,000 miles to a trader you'll be lucky to be offered £20k for your pride and joy).
Audi S5 (here is a prime example of a mass produced car that has lost over half it's value in 3 years, a lot of bad comments are made about these cars and how front heavy they are, a little bad press goes a long way).
I have many more views on cars and their sales trends but i don't want to babble on too much, however if you want any more advice then let me know and i'll post more.
And before anyone jumps on the defensive here, please bear in mind that these are only my views and are solely based on my experiences when being bent over a barrel, pants pulled down and my arse slapped with depreciation.
cheers
Pete
What a superb thread. Its great see a car fanatic not give a stuff about how much it costs, how much it loses come sale time etc etc and just buy what they want and just fking drive it
Total top respect to you sir and to give the proceeds away on this project to a worthwhile charity is just the icing on the cake.
A beer of your choice is waiting for you Sir just keep the thread updated
king drive it Total top respect to you sir and to give the proceeds away on this project to a worthwhile charity is just the icing on the cake.
A beer of your choice is waiting for you Sir just keep the thread updated
Edited by M5 Russ on Monday 13th June 22:58
Gassing Station | Readers' Cars | Top of Page | What's New | My Stuff