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Value of Conti Prestina?
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Warrior372
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Posted Thu Sep 24, 2009, 9:21pm
Subject: Value of Conti Prestina?
 

Hello Everyone!

I am contemplating the sale of my Conti Prestina. I do not even know where to start. I know they are rare, but really have no idea what I would ask for it and do not know the perceived value of such a machine.

I completed a full original restoration of this machine earlier this year. It was a ground up refurb. All powder coated surfaces were sandblasted and re-powder coated in their original colors. This included the inner and outer frame, the sides of the machine housing, as well as the lever housing.  The boiler, heating element, group head, and copper pipes were soaked in vinegar followed by a citric acid soak. The pressure gauge, water level sight-glass, group head seals and gaskets, and seven lever bearings were all replaced with original Conti Prestina parts from Allann Bros.  The nuts and bolts were all replaced with grade 8.8, 10.9, or stainless steel pieces. Also, a custom boiler gasket was made and installed in the boiler.

Everything on the machine is original, minus the replaced nuts and bolts. The machine works like a dream and makes amazing shots. I am fairly certain only a small few all original machines even exist in the US. If I choose to sell it, what is the general consensus on the price I should ask for it? I almost forgot, I have been told that it is an '82.

Pictures from the refurb can be seen on this thread   http://coffeegeek.com/forums/espresso/leverespresso/428380 .

Cheers,
Michael
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IMAWriter
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IMAWriter
Joined: 4 Jul 2002
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Location: Brentwood, TN
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Posted Thu Sep 24, 2009, 9:50pm
Subject: Re: Value of Conti Prestina?
 

Michael, do you intend to offer the Conti here on the BST? Hope so, as it's not often members get first crack at these vintage machines.
For a fair price, of course;>D
You've obviously lots of labor into this, which must be considered as well.
I will PM you with a retail vendor to whom you can inquire.

 
Rob J (LMWDP #187)
My Music Production web site:
www.robertjason.com
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IMAWriter
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IMAWriter
Joined: 4 Jul 2002
Posts: 5,698
Location: Brentwood, TN
Expertise: I live coffee

Espresso: Bezzera Strega
Grinder: Forte, Preciso/Esatto, KyM...
Vac Pot: Adcraft SS, Yama 8 cup
Drip: Brazen, Kalita, Chemex,...
Roaster: Behmor 1600, CO/UFO combo
Posted Thu Sep 24, 2009, 9:59pm
Subject: Re: Value of Conti Prestina?
 

Michael...I believe your question was answered when you purchased the machine. You posted a "How much should I pay" inquiry, and Doug at OE said anything under $1500 would be a good deal (paraphrasing)

 
Rob J (LMWDP #187)
My Music Production web site:
www.robertjason.com
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Warrior372
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Warrior372
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Location: Chicago
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Espresso: Olympia Cremina, Conti...
Grinder: Mazzer Major & Cimbali...
Vac Pot: Sunbeam
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Roaster: Has Garanti 2kg & HotTop
Posted Thu Sep 24, 2009, 10:36pm
Subject: Re: Value of Conti Prestina?
 

Thank you for the posts Robert.

That was for one in 'Decent Condition', and mine is in Outstanding Condition :) .  Also, Doug has definitely made it known to me that he is interested in procuring a Conti Prestina, condition aside. I have great respect for him and what he has done in terms of product offerings, knowledge sharing, and constant willingness to help those lever owners within the forum community who are in need. At the same time, I can not help but think there is a conflict of interest when the authority on levers is the one estimating the price on something they themselves would like to purchase :) .

So, I have turned to the masses in the forum community, because honestly I am at a complete loss as to the value of this machine. Is the answer simply, what a collector would pay for it?

Cheers,
Michael
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dana_leighton
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Posted Thu Sep 24, 2009, 11:05pm
Subject: Re: Value of Conti Prestina?
 

Warrior372 Said:

I have turned to the masses in the forum community, because honestly I am at a complete loss as to the value of this machine. Is the answer simply, what a collector would pay for it?

Posted September 24, 2009 link

One way to find out (assuming you're selling it) is to let the market tell you -- put it up for sale on eBay and see what the collectors (and noncollectors) think is right.

 
Dana Leighton - Espresso hack and CoffeeGeek moderator
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Warrior372
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Warrior372
Joined: 2 Jan 2007
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Location: Chicago
Expertise: I live coffee

Espresso: Olympia Cremina, Conti...
Grinder: Mazzer Major & Cimbali...
Vac Pot: Sunbeam
Drip: Trechnivorm  Thermoking &...
Roaster: Has Garanti 2kg & HotTop
Posted Thu Sep 24, 2009, 11:10pm
Subject: Re: Value of Conti Prestina?
 

Non-reserve ebay auctions make me queazy! Plus, if I ultimately do decide to sell it, ebay would be a last resort. I guess that would be a pretty interesting way to assess price though!
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Juanjo
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Posted Fri Sep 25, 2009, 6:38am
Subject: Re: Value of Conti Prestina?
 

BEAUTIFUL machine..
GREAT job.

for such a rare, unique and gorgeous machine, IMO  you can ask anything you want for it.. you earn it..;)
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JasonBrandtLewis
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Posted Fri Sep 25, 2009, 7:07am
Subject: Re: Value of Conti Prestina?
 

Michael,

Robert is correct.  Your best bet is to put it up for sale -- not on eBay or craigslist, but right here on the Buy-Sell-Trade section of the Member's fourm, right here on CoffeeGeek.

You paid $1500, and that's no secret (obviously).  Figure out a price you'd be happy with.  Add "something."  List your machine at $X OBO, and you're all set . . .

Cheers,
Jason

 
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orphanespresso
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orphanespresso
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Posted Mon Sep 28, 2009, 2:05am
Subject: Re: Value of Conti Prestina?
 

Just to weigh in here....always a tough question especially when one is, yes,  an interested party, of sorts.  

We have our "cold dead hands" lever machine, our Faema Velox Wall Mount and will not be replacing it with another machine....ever....never,  so the establishment of value for a Conti Prestina is not a personal issue.   I have been a certified appraiser (antiques, real estate, land cattle hogs, you name it) for a couple of decades and have this boy scout idea when asked about what a thing is worth and the value of anything is a combination of the price other similar items which have changed hands in the past, the current market, the theoretical value compared to other similar items etc.    there are also pyschological factors such as "the endowment effect" whcih is paraphrased as "since I own it it is more valuable than the others of similar makeup", sentimental value, and other intangibles that add to an objects theoretical value....rarity, condition, replacement cost and sometimes context (such as provenance or history).   the hours that a person spent cleaning fixing fiddling etc do not add to the actual value of an object....the new parts verified by receipt may add to the value as do procedures such as upgrading operating systems or powder coating for example, when the original was painted or had a less than top grade operating system (for espresso machines we are talking about pumps and pstats here and the like).

Last year Moscetti, the Conti dealer in San Francisco had a Conti Prestina completely rebuilt for sale at $1350 fob San Leandro CA....so this translates to about 1500 bucks shipped, or a bit more.    This is the first part of my estimated value.   Now comes the tricky part.....what is a new machine worth when one cannot buy one new and what does a similar machine cost new?    A new one group Astoria costs 4 grand.   So, is the Prestina worht 4 grand?    Is it worth more or less since they do not make them anymore?   So now you get into the concept of Fair Market Value, or the price which a willing seller and willing buyer will settle on to make a transaction to the satisfaction of both parties.  This number is generally defined as the auction price when all parties interested in a certain item have been notified to the impending sale of this item.    One may think that an Andy Warhol print could not be worth a million bucks but in open auction, if it sells for a million bucks it is by definition WORTH a million bucks.    That is fair market value.

So, when asked "what is a Conti Prestina worth" I go back to the " any single group machine in reasonable condition is worth 1500 bucks"  idea because it is my personal FEELING that one could sell a single group lever machine for 1500 bucks based on the fact that Moscetti sold one for 1350.    Is a FAema President worth 6500 euros?     If one sold on ebay italy for that price that is what it is worth as a bottom line price, or perhaps a top end price, depending on the market of course.

When asked what an item is worth, be it an espresso machine or art, we always cut ourselves out of the deal since it is not possible to be both truthful  and a heartless mercenary at the same time.    We all want to purchase for the lowest price possible.....I would like to buy any single group lever machine for 500 dollars or less, do the work, and make a profit on the resale, and at a yard sale we do not try to convince a seller of valuable junk to take more money, since the seller has set the price and the buyer has accepted that price, establishing not fair market value of the item but still, both parties are satisfied.  

The only way to establish what any item is worth in the current market is to offer it on open auction, fully advertised to all comers with no reserve or hidden price......this concept was defined long before there were such things as espresso machines and goes back into the mists of time.    

And by the way, even though I am an interested party to the doings ov cool espresso machines, I cannot tell a lie when someone asks what it is worth....there are lots of espresso machines and I have but one soul and it is not for sale.
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IMAWriter
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IMAWriter
Joined: 4 Jul 2002
Posts: 5,698
Location: Brentwood, TN
Expertise: I live coffee

Espresso: Bezzera Strega
Grinder: Forte, Preciso/Esatto, KyM...
Vac Pot: Adcraft SS, Yama 8 cup
Drip: Brazen, Kalita, Chemex,...
Roaster: Behmor 1600, CO/UFO combo
Posted Mon Sep 28, 2009, 6:50am
Subject: Re: Value of Conti Prestina?
 

orphanespresso Said:

Just to weigh in here....always a tough question especially when one is, yes,  an interested party, of sorts.  

And by the way, even though I am an interested party to the doings ov cool espresso machines, I cannot tell a lie when someone asks what it is worth....there are lots of espresso machines and I have but one soul and it is not for sale.

Posted September 28, 2009 link

All in your complete post well said, especially the above quote.

 
Rob J (LMWDP #187)
My Music Production web site:
www.robertjason.com
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