I own a 360 Michelotto, so if ANYONE has a vested interest in them being a $2 million car it's me.
Now Philly, if you truly believe they will appreciate to $2 million in 10 years then you should sell whatever it takes and "invest" the money in mine (or Ted's) because you will be getting a far, far greater return on your money than is available in any other investment class that I am aware of.
Every Michelotto that is in Australia is for sale at the moment and has been for YEARS. Lets just say that the buyers are not beating down the door to get into one.
IMHO the values are not going anywhere for some time to come. They are too old to be competitive; but not old enough to be collectible. There is no viable international race class for them to run in, they require specialist backup and spares and the running costs are eye watering by most folks standards.
As I have said before, there is nothing for the money that comes close to one of these for driving experience; but the smiles per mile per dollar spent is WAY out of whack.
I think they will. Right now for example, a Michelotto GT racer costs about the same as a 360 road car spyder... and people seem to keep buying those... where do you think THEY'LL be in 10 years??????
Look at ~20 year old Michelotto "other" cars... like F40 LM, 333SP, etc... at least $1m US, maybe double that....
and go back further and look at 308 Michelotto cars.... $1m Euro or more
I'd buy a 360 GT (or N-GT) in a hearbeat if I could afford to buy it AND destroy it. But as I could only barely afford the first bit of that equation, I'm out. I couldn't enjoy it properly if I couldn't run at full speed, and I couldn't insure it.
And if I owned one I'd use it a lot. And I'm SO grateful to have driven yours in anger (or semi anger anyway)
They're not as bad as you imply to run. If you used yours more regularly the cost per km would TUMBLE. You could use tyres for 2 or 3 track days if you did it over 4-6 months, but you need new ones if you don't use them for a year or so.
I've seen your bills.... (
) I'd say about $3k per track day on average, Including tyres and closed transporter and staff would be easily achievable with more regular use. And if you actually raced it, you'd get 3 or even 4 days use for the same transport and logistics costs, with only a small amount extra staff cost.
When you run only one day every blue moon, you need a new set of tyres, the years prep/servicing in readiness and a few other incidentals that make it more like $5k for the day out.
Also, they are actually much easier to run than you might think. A Michelotto spec GT car needs no pre warming or special treatment like the Veloqx car, and it's easy to start and run on the day. The Veloqx car is also easier than you might imagine, but there are a few knacks to learn.
"I" could easily run one by myself AND DRIVE IT at a track day, as could any mechanically savvy guy after maybe 2 or 3 single day outings with my help to get them going.