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Thread: 2001 Z8 (#60376) - Sold

  1. #1
    Sport Button On AHolzmann's Avatar
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    2001 Z8 (#60376) - Sold

    I have a 2001 Silver Z8 with black interior that I am listing for sale. I purchased the car a year ago and I am the second owner. The car has 4380 miles and is in fantastic condition. Unfortunately, I find myself not driving it much because of the extremely low miles. Almost everything is included, both tops (The hard top has never been on the car), hard top cover and caddie, car cover, battery charger, the book, all keys, tool kit, first aid kit, manuals etc. In looking at other similar condition/mileage Z8's I have priced it competitively at $109,999. Please send me a PM if you have an interest.
                       

  2. #2
    Beautiful car, great color combo too - good luck with your sale.
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  3. #3
    Sport Button On AHolzmann's Avatar
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    Thanks! I might be in the market for a higher mileage car if I do.

  4. #4
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    I saw this car for sale at the Mercedes Benz/Porsche dealer in Santa Barbara last year when I bought my 997 turbo. As I remember it is a very nice car.
    Marty

    2001 Z8
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    2013 Ford Raptor
    2011 Porsche 911 turbo S coupe

  5. #5
    Sport Button On AHolzmann's Avatar
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    Thanks Marty, should be one and the same. Sat for a while because they couldn't locate the hardtop. As a condition of purchase they ordered one from the factory, over $13K. There are apparently only two more new ones in existance.

  6. #6
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    I understand your not wanting to put miles on a low mileage car. My Alpina is my fourth Z8. The first three all had under 5,000 miles when I bought them and I was an odometer watcher. My Alpina has 12,000 miles on it. Still low but for me, since it has passed 10,000 miles, I will drive it and enjoy it and not worry about the miles. But, I will give you some good advice here. If you solely want to sell it to look for a higher mileage car, keep it! You will regret selling such a nice low mileage car just to save a few bucks and buy a miler. Plus you have to pay sales tax again. If you don't want a Z8 anymore then fine, sell it. But only sell if you don't think you will want one again. These cars are still leaving the US in droves and they will only get harder to find and more expensive as time goes by. IMHO, the Z8 will be the equivalent of a 300SL roadster as time goes by. It took 30 plus years for 300SL's to really start going up in value. Z8's are just 11 years in. Mark my words, the Z8 will go way up in value in a lot less time than it took for a 300SL.
    Marty

    2001 Z8
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    2013 Ford Raptor
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  7. #7
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    Marty,
    Thanks for the thoughtful response. I certainly didn't envision this scenario when I was looking for a low mileage car. I did think when I bought it, as I do now that the the Z8 has enormous upside especially in the US.

  8. #8
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    I agree that it has tremendous upside potential. The main reason I own a Z8 is I love the car, and the people in the club and on the forum are the best. However it doesn't hurt owning such an amazing car that will climb in value with time.
    Marty

    2001 Z8
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    2013 Ford Raptor
    2011 Porsche 911 turbo S coupe

  9. #9
    Z8 Madness
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    By the time you factor in maintenance cost, insurance, and registration, it is probably hard to categorize a Z8 as an investment that will make any owner rich within the next 30 years. Beyond that, I don't really care what happens anyway

    The real payoff is the joy in driving it, in particular when in the company of great friends
    62050 - Z8

  10. #10
    Z8Mania
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    Why do you guys think the Z8 has held value when other cars, say a 360 spyder, have not? I'm not sure how many 360 spyders they made but I bet its close in number. My theory is Ferrari is known for sports cars, so you can go back to the 308 and now all the way through 430 spider (going convertibles here and the 360 is a spyder with a y and the 430 is a spider with an i - I have no idea why but thats their thing). So there will always be another Ferrari sports car. Whereas the Z8 is from a company known primarily for sports sedans and in that regard it's a bit more special. It's predecessor is the 507 which predates it by around 30 years. It's successor will probably happen one day but it could be another 30 years. I think so long as they make it more than 15 years everything will be fine. Anyway, that's my theory. I also vote for don't sell if you really love the car.

  11. #11
    I know we've had this discussion before, but I think that when BMW does a 'pinnacle car' it tends to be quite special, and quite rare as you can tell by the 507 at 252 built and the M1 at 455 built.

    The Z8 is more akin to an Enzo or an F50 in Ferrari's line up in terms of pinnacle status. It was also built with a pretty serious intent to create a collectors car, as the 50 year parts promise and 'The Book' both expressed. For US drivers having both the wonderful DE and Bill Stuart both massively added to the cars uniqueness and incredible specialness, what other car ever made has that kind of serious customer support?

    At this point we unofficially estimate that as many as a thousand of these cars have now gone back to Europe due to the depressed dollar, and also the very strong belief in Germany that the Z8 will double in value over the next 20 years. Even Porsche's mighty Carrera GT doesn't look to achieve that! The 2000 model year cars the Z8 was road tested against, the 355, the AM DB7, MB SL500 and 911 Cab, are all worth around 25% of their MSRP today at best, only the Z8 has held its value, which also is building it's reputation as a great in both driver and collector circles.

    But those are all secondary in my opinion to the Z8's true trump card, it is still the most beautiful open top sports/GT car made since the 1960's, and on top of that it's built around the stunning M5 - S62 motor, making it an absolute hoot to drive. It is still an incredibly fast, capable and enjoyable car that costs very little to run, so it is an ultimately winning combination on every level.

    Also when it comes to selling it, you'll never get it back at the price you'll sell it for today, so if you sell it you have to know you're saying goodbye to something that will be both hard and expensive to replace.
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  12. #12
    True, but I think that you might have forgotten one great reason. I think I speak for many here when I say that were it not for this website and the wonderful people in this Club, many of us would have sold and moved on. Some of my best memories in the last 8 years are Z8 trips and outings and sharing them with a great group of people. That keeps many cars from trading at any given time and those selling hold out for their price.
    C.A. Cardenas (AKA Dan)
    2003 (last one?) Z8 - Hellrot / Sport Rot
    Original Owner - Munich Tourist Delivery
    -- Others --
    1988 M6 - 32K mi. - Original Owner
    1989 DINAN 750iL - 73K mi. - Original Owner
    1998 M3 - 63K mi. - Original Owner
    2015 X5 (F15) Diesel - Daily Driver

  13. #13
    Thanks!! :-) Look forward to seeing up in Monterey, seems like it'll be a fun and busy few days!
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  14. #14
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    As far as resale goes, here are two trades I just took in recently, what their MSRP's were, and what I paid for them.
    1. 2004 Mercedes SL55. Silver with a black interior. One owner car with 31,000 miles on it. Loaded with everything and in mint original condition. Original MSRP was $131.750. I paid $30,000 for it and that was a lot.
    2. 2002 Aston Martin DB7 Volante. One owner car with 10,000 original miles. Tungsten with a black interior. Also mint original condition. Original MSRP was $168,000. I also paid $30,000 for this car. So what does that tell you about a Z8? Don't email me on these trade ins, both have been sold.
    Marty

    2001 Z8
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  15. #15
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    Here is the problem with Ferrari. As beautiful as their cars are and as nicely as they drive, when a new model comes out, the one it replaced looks dated. The 355 was dated by the 360 which was dated by the 430 with looks dated next to the new 458. The Z8 is unique, really unique in all the world, and that is why they have held their value so well. Limited production, hand built, high quality, beautiful styling, relatively low maintenance "no $7,500 Ferrari tune up bills" and you have a winner. Having the 507 as your spiritual ancestor doesn't hurt either. Even if BMW comes up with another halo car, it will have zero negative affect on the value of a Z8, IMHO.
    P.S. Ferrari halo cars, such as the Enzo, F40 and F50, are exempt from the above. Plus their cars from the 50's, 60's, and early 70's "Daytona" are wonderful, collectible, beautiful and always will be.
    Marty

    2001 Z8
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  16. #16
    Z8Mania
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    Agree completely Marty. Thats kind of my point. Ferrari makes these cars in a series. The Z8 stands alone. The Ferrari super cars of course are collectable as are the vintage cars. For me I stop at the 275 GTB/4. That was designed before FIAT got involved and you can see it on the Daytona. But thats just me.

  17. #17
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    Agree 100%. The 365GTB and 365GTS are the last of the really great cars, for me. The Daytona spyder is one of my all time favorite cars, but if I could pick just one collectible Ferrari, it would be a 1967 275GTB/4 NART spyder. Just 10 were built and I think it is one of the best looking cars ever. Not sure what one would sell for today, but $10,000,000 plus for sure.
    Marty

    2001 Z8
    2014 Range Rover sport Autobiography
    2013 Ford Raptor
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  18. #18
    The Ferraris up the 275 were some of the most stunnning cars ever made, this GTO and the California Spyder are my two top choices, but there are so many that are so achingly beautiful that it just doesn't make sense to pick one or two.
     
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  19. #19
    Administrator thegunguy's Avatar
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    Great discussion. I think Marty and Jerry really nailed it, technically.

    However, I still contend that there is an "X factor" to the Z8. It is approachable in its beauty. I've written on this several times, but it's not just amazing behind glass. Strangers of all ages, flock to it, and they do so with smiles, not in reverent awe. It thrives in the open spaces, either alone or in company, not just in some climate controlled box. It's joy in transportation. A masterpiece of art and industrial design. Lightning in a bottle. How do you explain it? You can't. You just have to enjoy it.

    As far as ownership, it's a very livable car. It's a reliable DD or great weekender. It's just a joy to own - word gets around.
    thegunguy

  20. #20
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    All very good points. A little trivia. The term X Factor was originally coined to describe a horse, usually a race horse, with a larger than normal heart that enabled it to run faster over longer distances than other horses.
    Marty

    2001 Z8
    2014 Range Rover sport Autobiography
    2013 Ford Raptor
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  21. #21
    Z8Mania
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    Great info fellas. There is no doubt the Z8 has "it".

  22. #22
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    So we are saying that approximately 1500 Z8s still reside in the US?
    Zed0037

    #60217 Silver/Crema
    Built 07/2000

    #60037 Silver / Red
    Built 01/2000 (Former Owner)

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  23. #23
    Z8Mania
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    Are we- if so - wow. My price just went up! $500k!

  24. #24
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    That or maybe less. Of the aproximately 1,900 Z8's that originally came to the US, I would estimate 700 or more have left. Of the 450 Alpinas that came here, less than half remain. My estimate is 200 Alpinas left in the US. So 1,400 total seems like a reasonable number of cars still here.
    Marty

    2001 Z8
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  25. #25
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    At this rate, the 25yr "collector car" milestone should leave us a a very small and tight community. That can't hurt the value of US Z8s at all!
    Zed0037

    #60217 Silver/Crema
    Built 07/2000

    #60037 Silver / Red
    Built 01/2000 (Former Owner)

    Daily Driver
    2014 Range Rover Sport Supercharged
    All blacked out, 21" wheels, chipped to 560hp

    Hobby car 2009 Z4, dual exhaust, 19" M3 wheels

  26. #26
    Z8Mania
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    The Z8 will be 25 in 2024? Is that correct? I think it would be great to get together at Pebble. But we have some time to go. Maybe we should think of the 15 year anniversary?

  27. #27
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    Well, the 10yr party in Dallas was fantastic.
    Zed0037

    #60217 Silver/Crema
    Built 07/2000

    #60037 Silver / Red
    Built 01/2000 (Former Owner)

    Daily Driver
    2014 Range Rover Sport Supercharged
    All blacked out, 21" wheels, chipped to 560hp

    Hobby car 2009 Z4, dual exhaust, 19" M3 wheels

  28. #28
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    I like your thinking Jerry! Making plans for 2024. I love it.
    I will be on Social Security and Medicare by then so I should be able to afford to go. That is if they still exist.
    Marty

    2001 Z8
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    2013 Ford Raptor
    2011 Porsche 911 turbo S coupe

  29. #29
    Z8 Madness
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    The way things are going, you have more financial security in your Z8 than Social Security
    62050 - Z8

  30. #30
    From the thread, it appears AH60376 is a great opportunity for a Z8 buyer! It's hard to imagine the economic conditions today that would reverse the trend to have US-designated Z8s return from Europe.
    My Best,

    Ed

    2002 Z8 Jet Black//Sport Red
    2012 SLS AMG Obsidian Black/Classic Red

  31. #31
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    That would only happen if the dollar got really strong against the euro. Don't hold your breath.
    Marty

    2001 Z8
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    2013 Ford Raptor
    2011 Porsche 911 turbo S coupe

  32. #32
    Z8Mania
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    If there is an Euro left. Anyway I think the car offered here looks real nice so I hope it works out. Sorry I missed the 10 year but I just could not make it work. Hope to join one of these times.

  33. #33
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    Those Darn Chinese

    Allegedly the Chinese are propping up the Euro, so as I am still searching for my Z8, I find myself draped with the US Flag and rooting against the communists. Although out of my price range, I wish Andrew the best of luck and am curious to see how quick this one sells.

  34. #34
    Sport Button On AHolzmann's Avatar
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    This car has been sold.

  35. #35
    Team Z8 Charles's Avatar
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    Congrats on Your sale

    Are you going to look for a higher mileage car like you mentioned or stay put with your cash?

  36. #36
    Sport Button On AHolzmann's Avatar
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    For the time being stay put. For those keeping tabs, it went close to asking price.

  37. #37
    Z8Mania
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    Congratulations!

  38. #38
    Team Z8 Charles's Avatar
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    Did it go to another Country or another State?

  39. #39
    Sport Button On AHolzmann's Avatar
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    It was sold locally in Southern California. Thanks for all of the assistance that everyone on the forum has offered.

  40. #40
    Sport Button On - DSC Off Lisa's Avatar
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    don't forget to point the new owner to the site