Restore or Not Restore: The 1967 Ferrari 330 GTS

January 7th, 2014

1967 Ferrari 330 GTS

When a long-forgotten rare and classic car is found and brought into the public eye, it usually doesn’t take long for it to be restored and sold again in tip-top shape.

A recent find, though, brings up an interesting conundrum. A 1967 Ferrari 330 GTS, in its original state, has been found in a Pennsylvania garage. It’s rare to find a Ferrari of this vintage in any condition, but it’s nearly unheard of to find one of just 99 examples built that is in its completely original shape.

Well, original save for a small engine fire.

Even considering the fire, the car might be worth more if left untouched.

The Ferrari was recently found in a Pennsylvania garage and now is headed to Scottsdale, Arizona, to grace the stage at the upcoming Gooding & Co auction, where it could fetch somewhere in the neighborhood of $2 million.

That’s a lot of coin for a mostly untouched nearly 50-year-old car. While it has only 23,000 miles on the clock from the original owner, there was a small fire in the engine bay which prompted its sale. The second owner planned to fix the car, but never got around to it, and so it sat. For 44 years.

While most of the fire damage appears cosmetic, the 300-horsepower 12-cylinder 4.0-liter engine hasn’t been fired up since. It’s very likely whoever takes this car home will keep it that way.

That’s severely unfortunate. A car from this era, no matter how rare today, was made to drive and should be enjoyed as such. If it were me buying this car, I’d spend whatever it took on top of the $2 million purchase price to get it back into driving condition and looking brand new. Whatever I lost in financial value I’d make up for in the values measured by pride and appreciation.

What do you think: Restore the 1967 Ferrari 330 GTS or leave it as-is?

-tgriffith

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  1. Randy
    | #1

    Any car collector will tell you to get that engine repaired and cleaned up. Even if you don’t restore the whole car, there’s a difference between “restoration” and “repair.” The car will be much more valuable in running condition than as-is, because as you say, these cars are meant to be driven. My personal choice would be to clean up the engine, repair the fire damage and get it running again, and make whatever repairs are needed to make the car road worthy.

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