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Why Ferrari Dino 246 values continue to defy expectations

WORDS: JOHN MAYHEAD | PHOTOS: SAM CHICK, FERRARI

The 246 Dino is a car that simply doesn’t follow the usual rules. For years, many didn’t even consider it to be a true Ferrari, its 2.4-litre V6 roughly half the size of what was expected, and its market positioning – pitched to compete with the Porsche 911S – not very becoming of a top-end Maranello sports car. When the UK Hagerty Price Guide first listed the 246 models back in 2012, the top value was just £90,000 for the GT and £120,000 for the GTS.

But time can, in some cases, be kind to older cars. The acceleration, top speed, braking and road holding of ‘real’ Ferraris from the late 1960a and early 1970s now seem pretty tame compared with any modern hot hatchback, let alone a 2024 supercar. That’s allowed the 246 to be re-evaluated for the wonderful flowing curves of its bodywork, the compact but ultra-cool interior and the sound of that rasping V6 which sits just behind the cockpit. Given that context, the 246 is hard to beat.

Hagerty Price Guide values of the Ferrari Dino 246 GT and GTS models have risen significantly, with averages more than doubling over the past three years. GTS values, especially those in top original condition with Classiche certification and ‘chairs and flares’ (factory Daytona-style seats, and flared arches to allow larger tyres), have risen very significantly, with Hagerty’s top value now over £600,000.

Auction results have mirrored Price Guide values, with some outliers reaching even more: a 246 GTS sold at Gooding & Company’s Amelia sale in 2023 for $967,500 (£762,000), nearly $300,000 over top estimate, and at the RM Sotheby’s Paris sale in February 2024, another 246 GTS sold for €635,000 (£542,000). It is notable that Gooding & Company consigned a low-mileage, very original Dino 246 GT in its Amelia 2024 sale with a top estimate of $800,000 (£631,000). No 246 GT has sold at auction for under £200,000 since 2019, and no 246 GTS under £300,000 since 2022. Advertised dealer prices also remain high, with no Dino 246 GT or GTS examples listed under £290,000.

So, what’s the outlook for this late-blooming superstar? I’d be amazed if a superb example of a GTS didn’t cross the $1m barrier sometime soon. Plus, for those who love the looks but still want a bit more power than the V6 can deliver, there are the growing number of restomods built by companies such as Moto Technique, which has even used a bored-out, fuel-injected 3.8-litre Ferrari 328 engine and gearbox producing a shade under 400bhp in one of its cars. That, I’d like to drive.

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