| Author | Message | ||
| L. (Testaroja)
Junior Member Username: Testaroja Post Number: 128 Registered: 5-2003 |
Henryk some of that is to blame in the expensive maintenance of the ferrari testarossa, the 328 tends to hold the value more when compared to its original sticker price and todays market. My brother got an offer of $42,000 from some neighbor for his '86 328 but he wasnt selling and his car had close to 60,000 miles!!! He wont sell his because we had the car from new and because he doesnt want a 348 or to get into the BB or TR more expensive majors, he rather buy a 993 TT and keep his 328 also. I believe that in the future our cars will sell for higher but then all others will increase in value, but the real reason I still have mine is because I love it and theres no other Ferrari that looks so exotic unless you can afford the 288, F40, F50, Enzo. The Modena and 355 dont get a second look when next to a TR and dont sound or feel the same at speed. Instead of selling the tr and buying a 355, I'd rather use the money difference and buy a 308qv or a 328 now that they are so low $ | ||
| Steven J. Solomon (Solly)
Member Username: Solly Post Number: 570 Registered: 6-2001 |
While many websites and magazines have asking price indexes, Sports Car Market Magazine tracks actual selling prices of everything from Abarths to Tuckers, and every Ferrari ever made. They do this by attending public (non-dealer) auctions all over the world, and through other sources. They also have some very interesting articles on many of these cars. I have no vested interest in this company. Here is what I found on 308's (these are for cars in excellent-concourse condition, with all records and no stories): 308 GT4 2+2 74-79 2,826 $18,000- $22,500 C 308 GTB (fiberglass) 75-77 712 $30,000- $40,000 C (Add $5,000 for dry sump.) 308 GTB (steel) 75-79 2,089 $25,000 -$30,000 C 308 GTS 77-79 3,218 $25,000- $32,500 C The letters next to the prices denote levels of �collectibility� with A at the top (Enzo, 250 GTO, etc.) and F at the bottom. A Tier: Cars that will always have a following and will always bring strong money when they are offered for sale. They embody the attributes of style, performance, historical significance, rarity and competition history that often typify first-rank collectibles. Examples are the Ferrari SWB, the Mercedes-Benz 300Sc Roadster and the Alfa Romeo 8C 2300 Monza. B Tier: Cars that have something about them, often technical innovation, style or competition provenance�but normally not all three. They were generally produced in far larger numbers than the A-tier cars. Examples are the Austin-Healey 100/4, the Ferrari 512 BB Boxer and the Lotus 7. C Tier: Cars that have some inherent interest, but had few special or desirable characteristics. Examples are the Porsche 914, the Saab Sonett II and the Triumph TR4. D Tier: Cars that had the potential to be interesting but failed to be successful in the collector car marketplace, often due to design, engineering or styling fl aws. Examples include the Ferrari 400 2+2, the Acura NSX and the Alfa 2600 Sprint. F Tier: Cars with few if any redeeming characteristics, that are consequently hopeless in nearly every way. Examples include the Alfa Romeo Alfetta Sedan, the Iso Lele and the Lotus Eclat. | ||
| Roberto (Cuore_rosso)
New member Username: Cuore_rosso Post Number: 6 Registered: 8-2003 |
Although I am a new member here at FChat, I have gone through the archieves extensively. Terry's car is exactly what I would look for in buying a 25 year old classic (in my case, it would have to have the smog equipment, since I live in California). If he paid $26K and added $10K in parts, and put in some 200 hours at of his own time, you are getting all his improvements at 50%. $32K is a fair price with the updates. If you want a car to add to your collection, an unmolested fiberglass original with few miles is what you want. If you want to drive it the way it was designed to be driven, then a well-sorted and properly modified car like Terry's will fit the bill much better. Terry: how about some pictures. Maybe you could get the Daytona and the GTB in one shot? | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1106 Registered: 8-2001 |
L: What can I say? Originally I thought as you did........but then, I actually tried to sell the car......BIG difference! The dealer told me I should get about $46K, and offered me $35K on trade, to which, I said no. So I tried to get $46K for the car, and only had a couple of REAL offers of $40K. The 63K miles scared them away.......even though we both read about how well maintained high mileage cars are supposed to be better then low mileage cars. I still believe, that to sell a Ferrari, mileage is everything! I kept the car.....and now have close to 70K miles on it. The car was 100% original, with a Tubi (had the original exhaust also).....all books, records, tools, etc. No dings, no rust, no tears of the leather, etc......and no accidents. The car's dash looked new.....the seats would need to be cleaned. The front end had a few stone chips.....had the front end re-painted a few years ago. Wheels where perfect. Maybe it was the Midwest consevative market.....but I did get calls from all over. I have NO idea what a car like this is worth......but I do know what it will sell for......for reasons I can't explain. | ||
| L. (Testaroja)
Junior Member Username: Testaroja Post Number: 122 Registered: 5-2003 |
Henryk I know what you are saying but to tell me you couldnt get 40,000 for your car that I cant understand. In what condition is your car? I mean no testarossa could cost that low unless it was an '85 or '86 with 100,000 miles and needing work! or a tr that doesnt run or that it needs the major plus clutch ... I'm not putting your car down but cant see why you couldnt sell it. You were giving it away. I know that most people would offer me something in the low 60s and some bold people maybe make offers in the 50s, but I own the car and it will be those people who wont be buying it from me, not long ago I was looking for a new porsche twin turbo and the price was $120,000 and the dealership wanted to know if I wanted to trade the testarossa, at the end they gave me a trade in value of $53,000 for the ferrari, I walked away still have the car. I couldnt live with myself letting my car go for so little. | ||
| Tom Bakowsky (Tbakowsky)
Member Username: Tbakowsky Post Number: 539 Registered: 9-2002 |
I had a situation were a fellow took his mondial to the dealer for a hot start problem. Needless to say he walked out of there with a bill of $2000 and still had the hot start problem. The car found it's way to me and I figured out it was the fuel accumulator. This car spent a week and a half at the dealer. It spent 2 days at my shop and left repaired for $400. Sometimes the dealers just don't want to be bothered with the older cars, and like the other fellow said,they know longer have the staff that can work on these cars. Paul is very good with carbs, probbably knows more than most "experts" but he learned about them because he wanted to. Most people in the automotive trade today just want to change parts and be done with it. It takes a person with a real interest and a willingness to sit do and read a book and then figure things out on their own. People want things done to fast nowadays and working with cars that are 22 years and older don't allow for that. If the owner of the car is willing to do that, spend time to learn,ask questions,and takes his/her time and can do things withoput the time pressure that most techs are under,then I would expect that an older Ferrari NOT serviced by the dealer,but by sombody who really CARES would be the best buy. | ||
| Newman (Newman)
Intermediate Member Username: Newman Post Number: 1268 Registered: 12-2001 |
One thing Ive noticed is the 308 seems to suffer from the cheap repair syndrome. Some 308 owners try their hardest to make the wrong and less expensive part fit. Avoid factory distributor caps and so on. These Macgyver jobs can be spotted a mile away if you know what you are looking for and its the ones with the right parts that will command bigger bucks. | ||
| jeff ryerson (Atheyg)
Member Username: Atheyg Post Number: 378 Registered: 8-2002 |
Unless your are dealing with an exceptional mechanic such as JRV or Bill @ Enzo motors in Ca its a crapshoot for quality. Enzo motors did most of the major work on my 328 and did an exceptional job, but also my car has been serviced by a dealer and they did things as replacing seat bolster bolts with silver hex nuts vs black allen bolts, or when my water pump was rebuilt an independent scratched the lower quarter panel with a wrench, (which has been repainted since at my expense), If I do a repair on my car I am extra cautious to prevent damage The home mechanic you have the whole gammot of skill levels, from the guy who is skilled and takes his time and does everything right to the incompetent fool who is way over his head and shouldn't be touching a Honda, and is doing permanent damage to the car and cheaps out on everything. | ||
| Terry Springer (Tspringer)
Member Username: Tspringer Post Number: 739 Registered: 4-2002 |
Henry... I think your comments must have been directed at Michael, or you misinterpreted my sarcasm. I totally agree with you. I do all my own maintenance on all my cars, its a key part of why I choose to own and drive classics rather than moderns. This site has been invaluable in its assistance in figuring certain issues out! Michael: It would have to be a pretty big dealer to move more cars in a month than I will own in a lifetime. In the past 20 years I have owned over 100 classic sportscars. Triumph, MG, Lotus, Austin-Healey, Jaguar, Alfa-Romeo, Porsche, Ferrari, Fiat, Austin Mini and others. During college I started a sales and restoration business aimed at the classic sportscar market that I ran for 4 years. We averaged 8-10 cars in inventory, did ground up restorations for clients and exported about 60% of sales. I not only learned quite a bit about doing mechanical work on older cars, but gained perhaps a tad bit of actual knowledge in trading older cars. You may "know this" because you have seen the markup.... my knowledge is based on having DONE the markup. I eventually quite the business as my profession because doing it on a daily basis was killing my passion for the cars. Sometimes what is tons of fun as a hobby is terrible as a business! Jay is right on the money. Not many of todays mechanics know how to properly tune the carbs on a 308 or Daytona. Heck, Im no top level pro. A guy like JRV could tune and balance the carbs in 1/4 the time it takes me. Thats a big difference between the full time, old hand pro and the knowledgeable amateur: one can accomplish the same results as the other in 1/4 the time and without going through unnecessary steps because the pro will identify the exact problem far quicker. | ||
| Dave White (Dwhite)
New member Username: Dwhite Post Number: 44 Registered: 5-2003 |
I think cars are worth what someone will sell them for(expensive low production cars)- this should start some people saying he is nuts. Those who think they are worth what someone will buy them for are not driving them as I see from some of their profiles. No knock to anyone here including some of the private dealers - their business is to find the gap between buyers and sellers, trying to make a profit. Certainly there are cars for sale out there at the 20-30 level, some good, some are very bad. To me it is always about condition, not miles. I have had several sports cars and still own 3 which are all different in their personalities and their maintenance costs. With a Ferrari you are far better off getting the best you can find and paying more up front, there are very few bargains and the owners know it. To those looking for one, just buy one and start enjoying . . . you never know, why wait. Paul's car is beautiful as are several others I have seen. These are not going to be sold to some person who thinks they will pay 33K for a mint QV. Those who own them are the ones you are trying to buy from, if the offering price is not right we are not selling, if they were for sale. Good luck to all the folks looking, the smiles are well worth the costs. | ||
| G. Green (Mr_green)
Junior Member Username: Mr_green Post Number: 92 Registered: 8-2003 |
Jay, I once read a guy took out a second mortage on his house to repair his F-car, as that what you're talking about. | ||
| Jay Grande (Jay)
Intermediate Member Username: Jay Post Number: 1481 Registered: 10-2001 |
Problem is most of the dealers only know how to work on new cars, in otherwords, warranty work. You look in the back of the "Official" shop and tell me how many 308 are in there and how many kids there are working back there. I've only seen the newer cars in the back (348's and newer, with an occasional 308). How many of them were even born when the 308 was first introduced? Ask the dealer to set up your carbs and see how well your car runs. Of course there are some old timers left that know how to work on a non-injected car, but they are few and far between. That whole dealer serviced thing means nothing. Any 308 regardless of miles will need everything, from suspension to engine work. Remember these cars are 20-25 years old. They don't like to sit. So either someone has driven the crap out of it and it needs work or it's been sitting around and needs work, take your pick. Best thing to do is buy one already done (that someone has taken a bath on) or buy the cheapest one and do it all over again. It's not for the faint of heart...as I found out. | ||
| Michael C. James (Mjames)
Junior Member Username: Mjames Post Number: 82 Registered: 6-2003 |
Dealers get cars for wholesale prices - about $10,000 to $15,000 less than what they offer to sell 308s for on the showroom floor. I know this because I've seen the markup. Your car, in the eyes of a Ferrari-authorized dealership, is worth only that much. You'd be lucky to get $20-$25K from a dealership for an excellent-condition 308 QV, on Trade-In. Go ahead and ask your nearest dealership, and take your 308 with you just to see what they'd quote you on trade-in- the truth will hurt you real bad.....and those guys are the market pros, they sell more cars in a month than you'll own in a lifetime. Who do you think the insurance adjusters run to when they need help on a Ferrari claim? Do they call YOU??? No, wait, they saw a 308 on Ebay for $42,000.....what do I think a 308 is worth? A lot less than the seller is asking, just as a matter of principal. A fool and his money are soon parted - and a complete idiot shops at the Auto Toy Store. They have prettier ads than anything on Ebay, so maybe we should let THEM dictate to us what we buyers should be spending....oh, there's a good thought... Of course a car's condition matters - I've seen lots of pretty pictures on the web over the years, I'm sure EVERYONE's car is factory-mint in their own eyes...when money is involved, all the things that are really wrong with a car get swept under the rug for the next owner to deal with when the check clears. Selling a car can make liars out of the most men. I only trust half of what I see, and nothing about what I hear - people who work on their own cars, I'm sure, have GREAT stories about doing-this-and-doing-that, but.....the proof would be where? A local Ferrari mechanic here in Charleston workes on his own cars, do you think he generates any paperwork? Naaa, if anyone saw the amount of parts he's burned through thrashing his car around, tearing it all to hell and slapping it back together, nobody would give him a nickel for his 'pristine Ferrari'. And he's in a position to generate his own paperwork to validate whatever story he felt like inventing about a car to unload it..... I have an acquaitance in Philly who had a PPI done on a 512TR - within 50 miles of getting the car home post-purchase, a belt tensioner went and valves met Mr. Piston. That professional, insured PPI wouldn't assist (his botched review was a deal clincher), and that cost $12,000 in repair bills, so some things do get missed. Sometimes, the buyer still gets screwed regardless of the precautions taken. I'll let you know when I find someone I can trust...I've only had my ear to the market for six years now. | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1094 Registered: 8-2001 |
Terry: I would have to disagree with you. I have seen MANY mistakes made by the dealer......remember, their time is money!!!! You make it sound like these cars are "mysterious", and that ONLY a dealer can work on them......how wrong you are!!!!! I have worked on my past 8 Ferraris, with NO problem.....NOTHING mysterious......NOTHING that difficult. That is why we have FerrariChat......to help us!!!!!! I would recommend that you take advantage of this forum and find out for yourself how EASY it is to work on these cars. If the "run of the mill" e-bay car passes a PPI, then WHAT is the problem, if the owner did the work himself??????? How is it worth ANY less than the dealer maintaned car? | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1093 Registered: 8-2001 |
Michael: I believe it is $50 IF you sell the car.....if not, then it is more like $18. I agree with you......pretty cheap to test the market for SUCKERS!!!!!!!!!!!!!! | ||
| Terry Springer (Tspringer)
Member Username: Tspringer Post Number: 738 Registered: 4-2002 |
So Michael.... You think that a fully restored, documented with receipts and passing a PPI with flying colors immaculate condition 308 is worth no more than the run of the mill ebay dog because the work on the 308 was not performed by an official dealer? The only qualified and capable people to work on a car is the dealer, all other maintenance is of no value at all. Condition of a car does not matter... they are all worth the same regardless? Who is saying their car is worth $20K more than going prices? Have you purchased a 308? What is the correct going price, since your an expert? Ask Martin about "real receipts". How many 308s have had their odometers disconnected and bogus "real" receipts doctored up? However I guess a car with real receipts going back to day one and documenting mileage as well as maintenance history is worthless if its restoration has been done by a useless owner who is not officially santioned by the factory. | ||
| Michael C. James (Mjames)
Junior Member Username: Mjames Post Number: 81 Registered: 6-2003 |
I can't help but wonder about some of these posts....some of you guys feel that by paying big-dollar routine maintenance or doing at-home sweat equity somehow adds value to 'your' car. IT DOESN"T!!! At the end of the day, all you have in your garage is a used car. A rare one, but still just a used car. I wouldn't feel any peace of mind from buying a used car from a guy who is 'handy with wrenches'...as if that suddenly makes a person qualified to tinker with precision, high-performance engines. Your skill somehow commands a $10,000 -$20,000 premium over all of the other cars for sale out there, that have real receipts to back up the service claims made by their owners??? Ahh, no.....and just because you see a 308 on Ebay with a reserve for $42,000 doesn't mean your car, regardless of condition, is worth $42,000 either. I'm sure all of the Speculators out there (Ferrari means nothing but another investment commodity to get 'traded') are salivating at the thought, but when they're done dreaming they can wake up and dry off. The good deals to be had at all of the legitimate sales venues are still out there for someone smart enough to look for them. The fools who brag about how much they overpaid for a car don't set the real Ferrari market - unless its 1989 again. I believe ebay listers with bogus, inflated reserves are NOT serious about selling their car (I don't even know why they bother, other than the thrill of spending $50 to tease the rest of us). | ||
| Terry Springer (Tspringer)
Member Username: Tspringer Post Number: 735 Registered: 4-2002 |
Sean.... no offense taken. My "wrenching" resume is at least respectable. I have been working on old cars for over 20 years. I have rebuilt Porsche, Jaguar, MG, Triumph and Austin-Healey engines and done ground up restorations on 5 cars. I have detailed photos of all the work I have done including all receipts for parts. If someone wants to discount my work because I dont have a fancy shop sign outside... then good luck to them. I also dont really look at the blue as an "off" color. I bought this 308 specifically because of the color and did not want just another red 308. If people dont want a good 308 because of color.... then good luck to them. I really dont care if the car sells or not and have not advertised it. I may not advertise it and instead just keep it and drive as a daily. Ill post some pics of the car soon. | ||
| Darryl - TR&328 (Tr328)
New member Username: Tr328 Post Number: 34 Registered: 6-2003 |
I agree with you Henryk. You can find 90-91 TR's around 70 to 80K with low miles and major service done. | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1090 Registered: 8-2001 |
L: I hope you get the $75K (that would make mine worth more).......but I seriously doubt it!!!!! While you spent "$22K in the last 4 years", it really doesn't mean that much.......most would consider this "normal maintanence". I had my 88.5 TR now for 6 years.......put 25,000 miles on it,......close to 70K miles, and spent a total of about $2K for the whole time (including new tires). Granted, it will need a major service next year......but that is 5,000 more miles, and 7 years (as recommended by many). When I had it for sale this past Winter and Spring, I couldn't get over $40K for the car.....I decided to keep it. Good luck!!!!!! | ||
| L. (Testaroja)
Junior Member Username: Testaroja Post Number: 112 Registered: 5-2003 |
Jeff Ryerson, you are a lucky guy for not falling for that Testarossa, the price is way to low. That Ferrari '87 with 21,000 miles if it was well kept, clean and up to date with all records its a $60,000 or more but not less. I have perfect Testarossa '88 with 31,000 miles the 30,000 major was over $12,000 dollars and I have kept this car like no other owner I know takes care of their toys, anything feels wrong or I suspect something and I get it check right away. I have the car almost since new and in the last 4 years I have invested more than $22,000 in taking care of it. Theres no way that if I was to sell it you'll see a 40,000 or 50,000 nor 60,000 dollar asking price. I would be asking $75,000 or best offer, many of you will think that maybe I ask high but for someone with the money and discriminating taste and knowledge will understand and pay up. In january 03 Ferrari of Orlando told me that if I was to sell it to ask for it $75,000 to get $71,000 for it, and that was with 29,000 miles and the 30,000 major not done. | ||
| L. (Testaroja)
Junior Member Username: Testaroja Post Number: 111 Registered: 5-2003 |
Any Ferrari with low miles and 10 years of age its a no buy unless it has a major and other things done to it, it will cost high dollar and then break down until its new owner gets all the bugs out. Now a 10,000 mile a year Ferrari with all the records and clean its worth the money some of the owners ask for even if it seems a little high for those tire kickers out there and also in here in the new Ferrari comunity thanks and no thanks to the bad economy. The way it is it that a great paint job, a well done engine rebuild and interior restoration do bring the car value up because this means that the next owner just bought a car that needs nothing more than to pay a reasonable amount even if its higher dollar than what the average joe thinks its worth. A good Ferrari is the one that cost the extra money, the lower priced Ferrari's are for the dreamers who always wanted one. The true Ferrari owner knows that this cars are expensive to buy and run, if they are cheaper to buy lately thats great but the repair and maintenance bills will make those dreamers sell and probably cheap also for obvious reasons. And this is also bad because if they keep them long then they will not drive them often and that will mean a bad Ferrari example in the future. This kind of thing hurts the Ferrari market, value, and name. This cars belong in the hands of the people who can afford their real prices and later bills, not for the people who are ready to buy "cheap" but not to run them because they are affraid of getting pocket hurt in shop bills. Buy cheap and spend big, buy for the right price and worry less. | ||
| Jay Grande (Jay)
Intermediate Member Username: Jay Post Number: 1480 Registered: 10-2001 |
Randy, check your fuse box! | ||
| Randy Rosser (Randy_308)
New member Username: Randy_308 Post Number: 1 Registered: 8-2003 |
I just purchased a 1981 308 GTSi. What one persons idea of excellent condition is not anothers. I completly stripped the interior, ordered everything new. Installed new window motors, took the window cable housing apart, cleaned and re-lubed. Rewired power mirrors,"were not working when I got the car" Repaired power antenna. Pulled front and rear bumpers Euro, took to the boby shop for repair and paint. By-passed fuse panel for power windows, and installed new relays, circut breakers and ran new wiring. Window now work like a new car. I am now in the process of repairing under dash wiring and wire tieing up. Like I said had now for about two weeks and only drove from shopping center where I had it delivered to home. I am looking for an exhaust Valence/Basket, does anyone know where I can find one? Also does anyone have any helpful tips on what else I should look for while I have everything apart? | ||
| Newman (Newman)
Intermediate Member Username: Newman Post Number: 1257 Registered: 12-2001 |
I disagree about the off color issue. It aint brown, its a nice blue and if a PPI is performed by the dealer after Terry did the work and it gets a good report then who gives a crap where the work was done. Not everyone wants a red ferrari. | ||
| Sean F (Agracer)
Member Username: Agracer Post Number: 343 Registered: 2-2003 |
You'd better hang onto that 308 Terry b/c no one is going to pay over $30k for a '77 GTB that is an off color, no matter what you've done to it. This is not a comment on you're mechanical skills, but the fact that YOU personally did the work does not add value to the car. Poeple trust the specialty shops or dealers more than some random person they don't know (ie YOU - again, don't take it personally). Drive it and enjoy it. | ||
| Terry Springer (Tspringer)
Member Username: Tspringer Post Number: 724 Registered: 4-2002 |
Geeeeeez Henry, lighten up. Of coarse Im not telling you to judge the difference between an "honest" $32K 308 and a $22K 308 based on anything the sellers of each car are telling you. The real difference can only be determined by very close inspection by someone who really knows these cars. Buying either car without a good PPI is moronic. My point is that you cannot begin to turn the "fair" condition $22K car into the excellent condition $32K car for the difference in price. I know. I bought my 308 16 months ago for $24K. It was a very nice car. It needed new engine mounts, some minor interior detailing, some minor tuning and the AC system was removed non-functioning from the car. It had a known and documented history with all receipts for maintenance going back to day one. The paint is excellent. I have since replaced the engine mounts, redone the interior stuff, rebuilt the suspension, upgraded the springs/shocks, totally rebuilt/replaced the AC system with a Sanden compressor, totally restored the entire engine bay including powder coating everything, done a full 30K service, added aftermarket QV wheels and tires and done TONS of other little nit picking stuff. I have put over $10,000 into parts and labor plus spent over 200 hours of my own time on this thing. Remember it was a pretty dang nice 308 to begin with! Im thinking of selling it. No way would I take $30K for this car. That point as well has been made. People who have really nice fully sorted 308s are going to have far more into them than they can get. Not only that, but a well sorted 308 is a FANTASTIC car to drive! My 308 amazes me every time I drive it. While it was apart my plan was to definitely sell. Now that Im driving it as a daily, I dont know if I can part with it. Its just so much fun, handles incredibly well, makes amazing sounds (Tubi), has good power, the AC blows hard and cold and I cannot think of any other car that could provide anywhere near this much fun for this kind of money. Owners of nice cars are not going to let them go for stupid low money. That fact will force buyers to either pay up.... or buy the dog and ultimately pay far more. I think prices of needy 308s will stay about where they are.... low to mid 20s. I think prices of really nice 308s will go up. I believe we will soon see a much larger disparity between these. To really go through a rough 308 can cost a massive amount of money, particularly if you dont/cant do the work yourself. I would not be surprised to see really nice carb or QV 308s bringing $40K+ while the dogs degenerate into the teens. Even then, you could not make the $18K dog into the $45K concours car for the difference. | ||
| G. Green (Mr_green)
Junior Member Username: Mr_green Post Number: 68 Registered: 8-2003 |
I remember in the late 80's carburated 308's had asking prices of 60 to 80K. Maybe they will have their day again. | ||
| Sam Germana (Sjmst)
New member Username: Sjmst Post Number: 20 Registered: 7-2003 |
Not to crash the 308 thread (love 308's), but what about early Mondials? I know they aren't that fast, but the price is still good for an "entry level" Ferrari. Don't know where the prices will go. | ||
| Mitchel DeFrancis (4re308)
Intermediate Member Username: 4re308 Post Number: 1030 Registered: 6-2001 |
Tom, I agree. I work for Ferrari Market Letter and can confirm a northward trend of all 308 values. Like Greg said, I never bought my 308 for an investment, but it is always nice to see! The values just seemed to low for some time. Speaking of which, I think it is time for a drive! | ||
| Al Johnson (Bigal)
Junior Member Username: Bigal Post Number: 132 Registered: 3-2002 |
I found my car on eBay but ended up purchasing directly from the owner. Greg-great pic of your car. Was it taken around T? I thought all Euros had the chin spolier, guess not. | ||
| Steven R. Rochlin (Enjoythemusic)
Member Username: Enjoythemusic Post Number: 660 Registered: 4-2002 |
Gentlemen, It all comes down to what the owner is willing to take for their car. Naturally condition will also dictate, to an extent, the price as well. Looks like the days of El Cheapo 308s are over UNLESS it is a "roach coach" (as Frank says) or high milage early example. FYI: PPI'ed four 308's before deciding on the one that is here. There are MANY lackluster examples out there. Sure you could fix up a $25k 308, yet what would be the final "cost" of a proper working, reliable example? Also, abused examples (even after being repaired) might have hidden problems not detected the first time around. Open that wallent nice and wide (note: avoiding saying bend over and grab your ankles... no lube). May you be blessed with a perfect 308 for $25k, yet if you are seeking a '85 308GTS QV in "resale red/tan"... We can all go back and forth arguing price, yet it indeed seems they are climbing North. Want a bargain? Get a high milage early model Testa and fill your bank with at least $5k-$10k for reserve when it needs repairing/service. Perhaps after repairs that bargain may seem, well... You generally get what you pay for. ----------------- Old Sales Adage ----------------- Low Price Good Service High Quality Pick any two of the above... Enjoy the Drive, Steven R. Rochlin | ||
| Peter Cyr (Pete04222)
Junior Member Username: Pete04222 Post Number: 67 Registered: 6-2002 |
I just looked at the NADA pricing report for the '79 308 GTS and it is showing an average retail value of $24,100. That's about $2,000 less than it was last year. | ||
| jeff ryerson (Atheyg)
Member Username: Atheyg Post Number: 374 Registered: 8-2002 |
Look at FNA site description of the 76 308 They state, "The 308 remains perhaps the most influential enthusiest car in history, the car in which every sports car has been measured, upon which every Ferrari V8 Sports and Racing car has been based" "The design so beautiful it has been a basis for styling for every V8 Ferrari and an object of study for design students the world over" If thats not collectability what is? Almost all Ferrari prices have firmed up lately except Testarossas which are falling further, I could have bought a mint 87 with 21k original miles Red/Black for $40k just recently. | ||
| Frank Wiedmann (Frankieferrari)
New member Username: Frankieferrari Post Number: 7 Registered: 8-2003 |
THAT is why a person needs to know what hes doing,in the first place.The very first 308 that I looked at,3 years ago,was SELLING for $19,000.00 And,THAT was at an "Exotic car"dealer!It was a 1982GTSi. The car was a "roach"(as we called them back in H,S,-25 years ago!) And,ANYONE could tell that,even if they didnt know a thing about Ferraris.I mean,this car was leaking oil,coolant,smoking,interior very worn,headliner sagging,no clutch.This is a (the OTHER Italian )car dealer.They had no business even putting that car up for sale,in the condition that it was in. But,some guy bought it.(for$17,000.00 I heard.) And,when I went back there a few weeks later,to see if anything else (better) had come in,the car was in their shop,with the rear deck lid off of it,and the motor apart! So,that guy ,by now,has probly paid $30,000.00+ for his 308! I guess the only good thing that can come out of a story like that is,at least,after everythings been repaired or replaced,you will then get (or should get)peace of mind.But,for a first time buyer,a really crappy experience,regret.Losing driving time(what he bought the car for) while its sitting in the shop.$$$! You can go on and on. But,just looking through Hemmings,for instance.I see that there are ALOT of cars,same cars,same ads for a LONG time,that start out ,say,in the $30s,and are decent cars.(or,think they are.probably a good reason why they are still there!) But,have not sold,so the price goes down. If they arent in a hurry to sell,dont mind if it sits for sale for a long time.(I can think of a couple 2 or 3 ads right now) These same cars have been listed for sale for over a year!And the prices have slowly crept down. Then,theres a few,that are probably junk,that come in for sale at a low ball price,and theyre gone!So,with a Ferrari,and,any car,really.You need to know what the hell you are doing.Only,with a Ferrari,its gonna cost you more to fix it.Knowledge...I am new(3 years)to Ferrari.Thought I new alot when I started,didnt know squat! I am learning all the time,and,just found out about this FerrariChat,yesterday,WOW!!! What a great place to learn!! | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1077 Registered: 8-2001 |
Terry: What's to stop the guy from asking $32K for his $22K 308? Are you telling me that the owner, who wants to get as much as possible for his car, is totally HONEST?????????? I would guess the guy asking $22K is more honest than the other. | ||
| Terry Springer (Tspringer)
Member Username: Tspringer Post Number: 723 Registered: 4-2002 |
There is a world of difference between a $22K 308 and a $32K 308. To those who really know and understand the difference.... one of them is cheap and a really great buy right now. The other is a disaster waiting to happen. If you dont know which is which, your not ready to buy a 308. | ||
| Frank Wiedmann (Frankieferrari)
New member Username: Frankieferrari Post Number: 4 Registered: 8-2003 |
I too,have noticed that 308s are way down. A few(3) years ago,when I was looking for mine(bought it in Jan.01)"nice"ones were in the $30s Really nice ones,like the one I got,mid $30s. "O.k." examples in the high $20s. Now,I have seen some "questionable" cars in the high teens! And,alot of "decent"examples in the $20s-low to high.And "creampuffs" in the low 30s.I am gonna get a warehouse,buy up as many as I can,and drive up the market value,singlehandedly!(well,I would really LIKE to do that!)But,as the other guy said. I didnt really buy mine for an investment,either,I bought it to enjoy,with the notion in the back of my mind that I could probably sell it for what I paid for it.As long as I keep it in the same,unmolested condition that it is in now. But,as the other,other guy mentioned. Yes,when you mention Ferrari to "common Folk",the vision that comes up most likely is a 308. Thomas Magnum did not drive a 328!But a 308! Christie Brinkley was not driving a 328 in "National Lampoons Vacation",But,a 308!And,personally,even though I could have afforded a 328 when I was car shopping,and I know that a 328 is a little more advanced and a little more horsepower than a 308,I personally,like the black bumpers on the 308. Makes the car look lower,longer,flatter, and "pointier"than a 328. But,some people think that a 328s front and rear look "cleaner"than a 308.To each his own,I say!But,seriuosly,I am thinking about buying up a few 308s,(and,Testarossas.Those are REALLY cheap,for a 12 cylinder,awesome looking,"timeless body style" like the 308s.)Because,I do have a feeling that these cars are gonna go way up,soon! I think that the market for overpriced 60s muscle cars,alot of which dont even have the original engines.And,$50, to $75,000.00 for an OLD Chevy Corvette,are NOT gonna last much longer,once the general auto buying public find out that they can own a genuine Italian exotic,for the same price as a 3-4 year old vette,or,a(gulp)SUV! Speaking of which.(not SUVs)I am only 43,but,wasnt there a time back in like the late 80s,or,early 90s,that 308s went up over $100,000.00? I had heard something like that,years ago,but never verified it. And,my last comment. Remember-ALL Ferraris are special cars,some models more special to others.(yes,even 6 & 8 cylinder cars,for all you 12 cylinder purists out there!) But,there were only "so many" made.Actually,very few,if you think about how many cars the big 3,and Mercedes,Porsche,build in even 1 year, compared to how many Ferraris have been built since 1948(?)What,maybe 200,000? And,lest we forget how many have been "lost"(wrecked) over the years by some Rock Star,Rapper,or doped-up rich kid.That makes them more rare,every year. So,I would seriously think about getting in,now,if you havent already.And,if you can swing it,maybe adding one to the collection,while theyre still "cheap!" | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1075 Registered: 8-2001 |
Look at all the "wussies" out there with old "LOW" mileage Ferraris for sale. Why don't they drive them?........as a wussy, they are "afraid".......afraid to drive the car to where some "major" repair may be necessary. They know that people will not pay more for major repairs........part of "normal" service!!!!! Hence they buy a low mileage car......keep it that way.......or more often, than not.......disconnect the speedometer!!!!!!.....it's just TOO EASY to do!!!!!! I am glad that I am past the 3X8 stage.......because I wouldn't trust any that where for sale. All of us that own an older Ferrari are under the same umbrella.........we hope to sell it BEFORE it needs major repairs!!!!!!!......and the problem with 3X8s is that they are old enough to HAVE to require some repair.....too often, something major. | ||
| JRV (Jrvall)
Intermediate Member Username: Jrvall Post Number: 2206 Registered: 11-2002 |
For a mere $50 bucks you guys can test the waters and your skills at shooting pics and hypeing your cars desirable points and find out what's it's really worth...Ebay Awaits!! {  } ps: and who knows, with current upward momentum you might knock a homerun. | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1074 Registered: 8-2001 |
Tom: I hope the prices are going up......but you can't negate Sean's comments, since he is a "real" buyer. What I see on e-bay are "asking" prices.......nothing more and nothing less. Tell me what they actually sell for, and I may change my view. | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1073 Registered: 8-2001 |
Newman: I agree......many 308s are junk. However, a buyer, of your car will just say that all the things you did, including an engine rebuild, where part of "normal" maintanence!!!!!!....why would you rebuild an engine if you didn't have to??????....etc, etc. I took my 88 TR off the market, because everyone wanted it for a true "steal".......a price I couldn't live with.....hence I kept it, so I know where you are coming from. Since you had to rebuild the engine, you are now stuck keeping the car......enjoy it!!!!!!! It seems to me that things like rebuilt engines, fresh paint, recent service, etc., etc., don't command higher prices.......they just sell quicker!!!!!!! | ||
| Tom Bakowsky (Tbakowsky)
Member Username: Tbakowsky Post Number: 530 Registered: 9-2002 |
I don't know Henry...just have a look at ebay and the classified section in you're paper. They are moving up in price. Slowly mind you but they are climbing. | ||
| Newman (Newman)
Intermediate Member Username: Newman Post Number: 1255 Registered: 12-2001 |
I guess one thing that is true about ferraris is you get what you pay for. That cheaper car may cost more in the long run. | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1071 Registered: 8-2001 |
While most of you guys are quoting "asking" prices, NO-ONE is quoting "selling" prices. Since Sean is a "real" buyer, I would have to agree with him......prices are coming down. | ||
| Newman (Newman)
Intermediate Member Username: Newman Post Number: 1254 Registered: 12-2001 |
Im sure there are lots of 308's available but they are probably junk. As an example, mine has a rebuilt engine along with everything connected to it including new syncros in the gearbox, oh and new cv boots + brakes rims and tires. All the switches inside are correct and work. You couldnt buy mine for 30K Us because its worth more than that to me and someone who wants to hop in and drive with no oil leaks and not needing any service. When you buy a 308 that just had the cambelts changed, look for the marks they put on the cam seals and cams that allowed them to avoid removing the cam covers to do the service. Thats the kind of junk that is for sale. | ||
| James H. (Jamesh)
Junior Member Username: Jamesh Post Number: 212 Registered: 5-2001 |
All you 308 owners can thank me for the value of the 308s going upward. Just like all my stocks, as soon as I sell it, those stocks climb upward. So, I just sold my 308 cheap and what happens, the value goes up. Oh, if anyone wants a company to fail, just let me know, and I will buy their stock. Sure as hell, the value will go down. | ||
| Sean F (Agracer)
Member Username: Agracer Post Number: 342 Registered: 2-2003 |
Funny, I've been looking for 9-months and everything I've seen is that they are coming down. $44,000 CND = $31,750 US When I started in December, early cars were asking the high 20's. Now, mid to low 20's. I've seen several 77-79 308's recently asking mid 20's, and disappear in 4-6 weeks. Any early carb cars or fuel injected cars that are priced over $30K just sit. One I can think that's been for sale the entire time I've been looking started at $33K and is now at $31.5K. It's still sitting there. Don't worry Jordan, the prices are not going up that much. In fact, early carb cars are reaching a low. Go to JRV's site and click the cars for sale page, then the 308GTB. Read the entire post. Good 84/85 QV's reach a bid price of the mid/low 30's on e-bay but they don't sell (although, some meet reserve for ~$35,000). I've only seen one carb car go over $30K on e-bay, and it was a pefect yellow/black GTB with 9,000 miles on it. Anyone with an early 308 who says they wouldn't sell it for less than $30K doesn't want to sell it. | ||
| Newman (Newman)
Intermediate Member Username: Newman Post Number: 1253 Registered: 12-2001 |
Jordan, you can always buy a GT4 or a 400/365 at reasonable prices and they are more practical than a 2 seater. I wish I could load up the kids in my GTB but they dont want to ride in the trunk. I wont sell it but would consider a GT4 as second ferrari so i can use it more such as for family functions and so on. A 400 is another one I would like, big and roomy + a V12. I think the GTB's command more but thats just my biased opinion. | ||
| DJ Geck (Djgecko)
New member Username: Djgecko Post Number: 38 Registered: 4-2003 |
Well, after reading this post I have decided not to sell my 308. I've also been looking at the prices of 308's on the incline as well. I have an 83' with only 11,500 miles on it and have had no problems with it. I agree with them also representing the "look" of the Ferrari. Regardless of the model, they are all a piece of art. | ||
| Jordan Witherspoon (Jordan747_400)
Intermediate Member Username: Jordan747_400 Post Number: 1736 Registered: 12-2002 |
No! They cant go up until I get mine! If they are going up, what will be the Ferrari with 308 affordability in the future? There has to be something on the bottom rung of the Ferrari price ladder that can get me into Ferrari ownership for around the same price of a 308/328 now --25-35k. | ||
| Brad-Mo (007)
Junior Member Username: 007 Post Number: 71 Registered: 2-2003 |
I thought it was just me. I'm online looking everywhere every day. The 308 prices seem to be on the rise for sure. 328 prices on the other hand seem to be stable or declining a little. What gives? I would think that they would move in step with the 308. 86 and 87 328's are at a price very close to 84 and 85 308's with same milage and service histories. Of course asking and selling prices are much different, perhaps less room in the 328 prices. This brings up a question, anyone here ever gone from a 84 or 85 308 to a 86 or 87 328 or vice versa. Why? Impressions? I'm curious. | ||
| chaz richards (Chaa)
Junior Member Username: Chaa Post Number: 72 Registered: 5-2003 |
Here in the uk the prices of the average ferraris are coming closer, for egsample 303 are going from 18,000 to 36,000,and 328s from 21,000 right to 49,000, 348s from 21,000 to 40,000. Evern 355 lhds are going from 39,000.It seems that these car prices are getting closer all the time.My own 328 gts cost me mid 40s. Kind of gives you a warm glow does it not? Could you look at it like this, when the 328 was last on sale in the UK the price was around 48.00. The best ones are now going for mid to late 40s. I have a bill of sale for my 328 from 1991 for 92,000, wow! | ||
| Tom Bakowsky (Tbakowsky)
Member Username: Tbakowsky Post Number: 527 Registered: 9-2002 |
I think these cars are going to be the ones to own in the future. Only because they represent the look of Ferrari. Everybody who thinks of Ferrari thinks of these cars. The demand is starting to rise,now that people are starting to realize that they can really afford to drive an exotic. They also represent the only really affordable exotic out there as far as maintenance. Guys/girls who are willing to learn and want to get there hands dirty will want to fix the car themselves, and the 308 allows you to do just that! | ||
| Al LaPeter (Lapeter)
Junior Member Username: Lapeter Post Number: 130 Registered: 6-2002 |
I think Ebay is a good source for pricing. The top bids are usually 5 to 10% less than what most sellers will accept and some "good deals" do sell on Ebay. I tend to watch the Ebay prices. I currently have a 355 spider and I am on "the list" for a 360. I will be selling the 355 when the new one comes. You have to look a lot, but you can find some good prices on good cars. A good price is above wholesale, but much less than retail. | ||
| Greg Owens (Owens84qv)
Member Username: Owens84qv Post Number: 828 Registered: 10-2001 |
Tom, If you read Autoweek and other publications with 308's for sale, they are all creeping north. While I never bought my 308QV for an investment, it is nice to see the prices on a slow rise from where they were 2 years ago. | ||
| Tom Bakowsky (Tbakowsky)
Member Username: Tbakowsky Post Number: 526 Registered: 9-2002 |
I was just looking on ebay(I know,I know not a good place to judge pricing) and I was noticing the prices of these cars seem to be creeping up. Heck there is some guy one there with an 85 308qv with the buy it now price of almost $44,000. There seems to be numerous cars starting to be priced in the high 30's to 40's now. A 308 2valve car in Canada goes for close to 48,000 CND. Just recently I saw a QV advertized for 52,900. Hang on the those "poser" 308's folks..there going to be worth more than a 360 ever will!! |