This 1970 Iso Grifo is one of approximately 14 targa examples built during four years of Series I production. It was completed on May 21, 1970, before being delivered new in Germany. Chassis 314 was purchased in 1978 by its previous owner, who commissioned a repaint in the current shade of dark blue metallic and a re-trim of the gray leather interior before importing the car to the U.S. in 2005. Following an overhaul of the 350-ci Chevrolet V8, the car was sold to its current owner in August 2022 and subsequently received further mechanical work that included the addition of air conditioning and electric power steering as well as a refresh of the four-wheel disc brakes. Additional features include a ZF 5-speed manual transmission, a limited-slip differential, an aluminum radiator with dual electric cooling fans, independent front suspension, a De Dion rear axle, 15-inch Borrani wire wheels, body-color removable targa panels, and power windows. This Iso Grifo targa is now offered by the seller on behalf of its current owner in Avondale Estates, GA, with a copy of its build sheet, invoices from 2023 work and a clean Montana title.
SCM Analysis
Detailing
| Vehicle: | 1970 Iso Grifo Series I Targa |
| Years Produced: | 1965–74 |
| Number Produced: | 413 (approximately 14 Series I targas) |
| SCM Valuation: | $400,000–$600,000 |
| Tune Up Cost: | $350 |
| Chassis Number Location: | Engine compartment above right front suspension |
| Engine Number Location: | On block below right cylinder head |
| Club Info: | Iso & Bizzarrini Owner’s Club |
| Website: | http://www.isobizclub.com |
| Alternatives: | 1967–72 Maserati Ghibli, 1968–73 Ferrari 365 GTB/4 Daytona, 1963–67 Chevrolet Corvette |
| Investment Grade: | B |
This car, Lot 128929, sold for $555,000, including buyer’s premium, on Bring a Trailer’s online auction, on December 4, 2023.
Iso’s origins can be traced to Renzo Rivolta’s Isothermos, a company that produced commercial refrigeration and heating equipment. After World War II the need for inexpensive transportation led to a shift in focus to the manufacturing of motorcycles. In 1953, Iso launched the Isetta (which translates to “little Iso”). It was an egg-shaped vehicle that offered the fuel economy and 2-cylinder engine of a motorcycle but with the weather protection of a regular car. The Isetta’s unique front-opening door invokes the image of a refrigerator. The Isetta sold poorly in Italy, and Iso licensed the product to various manufacturers, including BMW, which was successful in marketing the car.
Exotica made easy
After the Isetta, Rivolta decided to venture into the production of more-expensive gran-turismo cars. Luckily, Giotto Bizzarrini had a falling out with Enzo Ferrari and Rivolta was able to hire him. Bizzarrini’s successes after five years as chief engineer in Maranello included the Ferrari 250 TR and 250 GTO. Bertone’s chief designer, Giorgetto Giugiaro, was tapped to sketch the body of this rather attractive 2+2 coupe. Rivolta decided to bestow his last name on this new creation — not one of the better automotive monikers.
An American engine was selected to power the new car — specifically, a 327-ci V8 from the Chevrolet Corvette, including the “Corvette” script on the valve covers. Iso’s marketing plan was to present his cars as being easier to service than complex Ferraris and Maseratis. This was a time before the internet and FedEx, when getting replacement parts for exotic Italian cars could take weeks or months. Here was a sexy Italian car that can be serviced by your local mechanic! The marketing message worked and the Rivolta sold well.
A star is born
Iso’s next venture was to create a sportier 2-seater. Again, Giugiaro was tapped for the design, and he outdid himself with one his most memorable creations. The Iso Grifo was born. The Grifo came as a gran turismo and as a racer. The racing version later became the Bizzarrini Strada.
Approximately 413 Iso Grifos were made between 1965 and 1974. Most had the Corvette powertrain, although later cars had Ford V8s after GM stopped providing engines. The early cars, such as our subject, are known as Series 1 and have open headlights. Later cars had pop-up headlights. There was also a big-block version of the Grifo, which can be easily identified by the large hood scoop. The market tends to place a premium on the big-block versions, perhaps due to their rarity and the sometimes misplaced notion that “bigger is better.”
Aging gracefully
Our subject car is a rare targa version, of which approximately 18 were created. This example was located only an hour from my home, and a friend from Florida asked me to inspect it.
Although I was aware that Grifo targas existed, I had never really looked at one closely, so I was quite intrigued. The car looks stunning in the flesh. It has an older restoration that for the most part has aged well, with a few age-related paint wrinkles and seats needing restuffing. Overall, it was a solid condition #2 car.
With the targa tops removed (it is a two-piece design), this Grifo had a nice open-air feeling. Having said this, I was disappointed that the roof panels could not be stored inside the car, a major design flaw. On most targa-roof cars (think Porsche 911 Targa or Ferrari 308GTS), the top can be stashed behind the seats or inside the trunk, allowing it to be replaced for security or poor weather. Not so here.
On the positive side, besides its nice condition and color combination, this car checked all the right boxes. It has the optional 5-speed ZF gearbox (the same unit as a Maserati Ghibli), Borrani wire wheels, plus aftermarket air conditioning and electric power steering.
Rare, and bought fair
My Florida friend wound up being the winning bidder at $555k, all-in. I later received a text from him expressing how happy he was with the car when it arrived at his house.
This car was previously sold at Gooding & Company’s 2022 Pebble Beach auction for $637,500 (SCM# 6955432). At first glance, this would appear to be a significant drop in vlaue, but the Gooding result includes over $62.5k in buyer’s fees while the BaT auction only had a $5,000 buyer’s fee. The hammer-price decrease was $25,000, which in today’s declining market is not that bad.
Overall, Iso Grifos have been holding their own compared with other Italian cars such as the Ferrari Daytona and the Maserati Ghibli. Given the rarity of this Grifo targa, its desirable specs and overall spectacular looks, I would say the price paid was fair for both buyer and seller. ♦
(Introductory description courtesy of Bring a Trailer.)
