| Author | Message | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1195 Registered: 8-2001 |
Martin is right.....high mileage will scare people away. I disagree with his assumption that a Ferrari with 105K miles will automatically need an engine and trans rebuild. He goes so far to say that a 100k miles 308 will beat a 20K miles 308, yet the price of the 100K mile 308 will be MUCH less. Notice that he has sold his 348, he bought a 355 with ONLY 3K miles. That seems to be a contradiction. The bottom line is: Those with high mileage should keep their cars (remember, you CAN'T sell it). If everyone assumes that an engine rebuild is necessary at 100K miles (as Martin does), then if the engine last 150K miles, you have just driven a Ferrari for 50K miles FREE!!!!!!! What other car can you say that about? Everyone says how Ferrari engine are bulletproof.......WHERE is the proof.......I just don't believe it, as does almost EVERY buyer. While the engine may last 150-200K miles NO ONE believes it, even Martin. I have seen Ferraris that had 60k miles on a clutch, and others that had only 5K miles. That also has to be true of the engine life. Due to this uncertainty, everyone is afraid!!!!!!! Those who think that all 308 owners should not take less than $40K are only dreaming. Buyers will either buy a high mileage TR or look for another brand. I feel that a TR is worth more than ANY 308/328. | ||
| Dr Tommy Cosgrove (Vwalfa4re)
Intermediate Member Username: Vwalfa4re Post Number: 1296 Registered: 5-2001 |
I'd give $40,000 for both cars... | ||
| Michael C. James (Mjames)
Junior Member Username: Mjames Post Number: 125 Registered: 6-2003 |
Rising prices....hahahhahaha! Uh, no. Probably ASKING prices are rising, but not selling prices. I'm looking at two 328s here in the PA/MD area, one with 41K miles and the other with 31K miles, and both can be had for less than $40K..... | ||
| Dr Tommy Cosgrove (Vwalfa4re)
Intermediate Member Username: Vwalfa4re Post Number: 1295 Registered: 5-2001 |
Stephen, that was me (95 DMD). I really think your color black is prettier. It has a lot more shine to it when it's polished up then my car. Mine is metallic black and it looks more grey under certain lights. You have a great looking 308. | ||
| Darryl - TR&328 (Tr328)
Junior Member Username: Tr328 Post Number: 90 Registered: 6-2003 |
308 and 328 are climbing. I put over 100K on my first Ferrari, a 1979 308 GTS. I sold it to a friend and he drove the heck out of it with no problems or rebuild engine or transmission. I had the transmission rebuilt in my TR with 41K miles a few months ago. | ||
| Robert Ginsberg (Chefrobear)
New member Username: Chefrobear Post Number: 43 Registered: 3-2002 |
lol  | ||
| Robert McNair (Rrm)
Member Username: Rrm Post Number: 659 Registered: 5-2002 |
Wow a lot of Robert's in this thread. Robert Ginsberg I was referring to Robert Rothschild's car when I mentioned the beautiful car. However in seeing your car in your profile it looks like you have a beauty too. | ||
| Robert Ginsberg (Chefrobear)
New member Username: Chefrobear Post Number: 42 Registered: 3-2002 |
It's still Beautiful. Thank my stars everyday. Figure next year I'll move up. | ||
| Robert McNair (Rrm)
Member Username: Rrm Post Number: 657 Registered: 5-2002 |
I'm also noticing higher miles on cars for sale which is good to see. Robert I had noticed your car for sale and I remember what a beautiful car it looked to be from the pictures you posted when you first got it. | ||
| Dave White (Dwhite)
Junior Member Username: Dwhite Post Number: 82 Registered: 5-2003 |
They are certainly climbing right before our eyes. One on this site just went from mid to high 20s to 29.5. | ||
| casey slattery (Mondialcab)
New member Username: Mondialcab Post Number: 17 Registered: 9-2003 |
No they cant go up, I havent got mine yet! From my unserstanding the 308 has not been (so far)an investmant car that you can expect to make a huge profit on when you sell. So if the prices are climbing i'm happy for you owners and for this beautiful piece of Ferrari history. (keep your eye out for a black 1978 or 9 for me) | ||
| Robert Ginsberg (Chefrobear)
New member Username: Chefrobear Post Number: 41 Registered: 3-2002 |
I currently have a little over 25k on the O.D.. That doesn't include the fact the speedo runs 10% higher (documented by shelton). Regardless, can 40k be a reality? Lately I talked myself out of a 348 up-grade. A 328 seems better suited to my desires. I figure the 328 group is rising simularly to the 308's. | ||
| Stephen A. Thompson, II (Sat4re)
Junior Member Username: Sat4re Post Number: 60 Registered: 2-2003 |
Dr. Cosgrove, Several years ago, probably 2000?, I was at the Ferrari Challenge at Road Atlanta. A guy was there with a beautiful black 308, with a license plate that said something like DDS 1995 (I assumed Dentist with graduation year). Was that you? I took several photos of the car, and to no surprise, the 308 I now have looks nearly identical. | ||
| Dr Tommy Cosgrove (Vwalfa4re)
Intermediate Member Username: Vwalfa4re Post Number: 1292 Registered: 5-2001 |
I bought my 308QV back in 97. It had 57,000 miles and I know it had been tracked a lot because I actually video taped it at one 5 years earlier (weird coincidence). Anyway I paid 34K for it and have put 30,000 more miles on it since. As most of you in the SE region know I drive the hell out of it. I run every track event I can get to. I have even joined up with the Porsche Club and a Mustang/Cobra Club for more track time. Besides routine maintaince, my only unexpected repairs so far have been a water pump (no surprise) and a voltage regulator. My point is I paid the mid 30's for a QV with 57K+ on the clock and It has been very good to me. It was driven hard before I got it and I still drive it hard and often. It hasn't been a problem because it was and has been well cared for. I can't wait till it rolls over 100,000. With a good history a higher milage car is worth it. | ||
| Stephen A. Thompson, II (Sat4re)
Junior Member Username: Sat4re Post Number: 59 Registered: 2-2003 |
If we want our 308 prices to rise, all we need to do is agree to not sale for, let's say, less than $40,000. If you refuse to budge on price, those that desperately want this model car will pay. Now, the problem is that many 308 owners will not be able to sell their cars, period. This is the problem when you create an artificial market. If every 308 owner loved his car so much that they wouldn't take less than $40K for it (most will at this point in time) then you would see selling prices rise. What the owner values the car at is as important as the value perceived by the would be purchaser. Let's love our 308's more and hold on to them with vice-grips!!! | ||
| Martin - Cavallino Motors (Miami348ts)
Senior Member Username: Miami348ts Post Number: 6127 Registered: 5-2001 |
Robert, I see how diffcult it is sometimes for the owner of such a "high-miles" car. You know you can beat any same year 20K Miles 308 out there because your car is probably running faster and stronger than most other 308s. I think a 2v injected 100,000 Miles 308 can beat a 20K Miles 308QV any day. Once you drive them they run! Had the same with my 348. When I sold it (42K Miles)she was running like the 355 I bought with 3K Miles. And supposedly ther eis a 80HP difference. | ||
| Robert Rothschild (Rothschild)
New member Username: Rothschild Post Number: 41 Registered: 6-2002 |
Thanks Martin, I can see your point and have always appreciated and trusted your commentary. No offense taken. | ||
| Christopher Murphy (Cjmotorsports)
New member Username: Cjmotorsports Post Number: 19 Registered: 8-2003 |
Robert, That's awesome! They were built to be enjoyed and Enzo would have it no other way... I would definitely want a leakdown test done though and see how much compression each of the cylinders is holding. | ||
| Martin - Cavallino Motors (Miami348ts)
Senior Member Username: Miami348ts Post Number: 6122 Registered: 5-2001 |
Robert, at 105K Miles you will have a tranny and engine rebuilt soon. That may scare people away. And in that case I have to agree, you have to price the car where part of that is reflected in it. $30K+ for any 308 with that miles is asking too much no matter how nice the car is and runs today. Nothing personal. As I said before I think it is great your car gets used and has been through its life. Good for you and all the previous owners. | ||
| Robert Rothschild (Rothschild)
New member Username: Rothschild Post Number: 39 Registered: 6-2002 |
thanks Christopher, 105,800 miles...3rd Owner, according to all of the documentation that I have going back to the original owner she's consistently accumulated between 5-6,00- miles per year since new. And in my opinion runs the way she does as a direct result of that fact. | ||
| Nebula Class (Nebulaclass)
Member Username: Nebulaclass Post Number: 496 Registered: 11-2002 |
Haven't QV prices always been in the 30's? I remember shopping in 99 and 2000, and the QV were what they are now. | ||
| Christopher Murphy (Cjmotorsports)
New member Username: Cjmotorsports Post Number: 16 Registered: 8-2003 |
Well said Robert(s), couldn't have said it any better myself. I've been watching these cars since 86' before the boom and after, and they've maintained relatively balanced prices for the past 10 yrs. I'd like to know what kind of mileage your QV is showing that would scare them off? I'd only be wary if it had over 100k... My 2C. | ||
| Martin - Cavallino Motors (Miami348ts)
Senior Member Username: Miami348ts Post Number: 6119 Registered: 5-2001 |
So the higher mile car has a little lower resale value, big deal! A 308 with 20K miles will be maybe $ 8,000 higher than the same year 80K Miles car. Go figure, $8000 paid for 60,000 Miles of fun! You be the judge! I have a perfectly nice 328GTS with 40K Miles. The car shows like a 10,000 Miles car and that is NOT a used car dealer trick. It is excellent. I personally rather own that car than the same condition 10K Miles 328GTS and pay on top $ 10,000 premium. As for 308 prices. I do not see them climb. They are stable and that is al one can hope for in these times. | ||
| Robert Rothschild (Rothschild)
New member Username: Rothschild Post Number: 37 Registered: 6-2002 |
Robert, couldn't agree more on your statement regarding mileage. I intentionally sought out an example with documented service history and consistent accumulation of mileage over it's lifetime. Having said that, I still needed to dump about $10k into the car just months after I bought it...this was expected though, since I knew the service history and it was due for it's customary 30k plus a slew of additional routine items. I recently considered selling and even got as far as posting an ad or two. Here's my experience...the high mileage scared every one away, despite the documentation and like-new mechanical condition of the vehicle. I even had one fellow post a counter-ad alongside mine saying that I was fooling myself with a $32k asking price since you could buy one just like mine with so much less mileage on eBay for the same price....we all know the correct response to that one ;) So, although I agree with everyone here, those of us who actually DRIVE our cars and enjoy them, it would appear that given the current state of the exotic/collector market & economy...high mileage = low resale value, regardless of the documentation, color combo, condition, etc. My 85 308 QV with Rosso Corsa/Tan is exactly what every buying guide out there states that you should be looking for, yet no one seems to be interested. Result, I'll just keep enjoying every insatiable mile that I can squeeze out of her, and try to wipe that perma-smile off my face every once in a while. It's a great car, a joy to own, and the culmination of a lifetime dream....and if no one else is interested, then I'm going to keep her. Who knows, anyone remember what dinos and daytonas were fetching a few years ago? how about muscle cars from the early 70's? I think our time is yet to come on these wonders of italian metal, once the current generation of collectors gets tired of buying chevelles and chargers, the next generation will come along and remember how great it felt to dream of early 80's exotics, it just takes continued patience and care.... | ||
| Robert Ginsberg (Chefrobear)
New member Username: Chefrobear Post Number: 40 Registered: 3-2002 |
I agree with Ken. I bought a 'Finest example' and still had to drop a load of cash after purchase. Will I re-coup the investment in the re-sale? Probably not, but I didn't buy my car for investment purposes. It seems to me that recent sales are based on milage 1st. Low milage, higher re-sale value. IMHO, I'd rather pay for a car with higher milage and the issues addressed. | ||
| Ken Sullender (Sulley)
New member Username: Sulley Post Number: 36 Registered: 9-2003 |
I think a lot of good points are made here, but in my recent search for a 308 I found that the big difference in price is condition. I can't tell you how many cars I looked at where the description is NOT what you actually find. One person's definition of an excellent car is different from another. Alot of the price difference is really the seperation of the ok cars to the excellent ones with service history and having been well maintained. You usually get what you pay for. | ||
| Collin Hays (Chaysintexas)
Junior Member Username: Chaysintexas Post Number: 143 Registered: 4-2002 |
Seems like I'm noticing the opposite - at least for '82 and earlier 308's. Seems to be plenty of nice examples in the very low $20's whereas a year ago, when I was looking for one, it was a minimum of high $20's. (Or so it seemed). | ||
| Rod Newman (Rocket)
New member Username: Rocket Post Number: 1 Registered: 9-2003 |
Remember, list price is always different than purchase price. A car listed in the mid 30's should sell in the high 20's. | ||
| Sean F (Agracer)
Member Username: Agracer Post Number: 375 Registered: 2-2003 |
Ah, the monly "308 Prices" thread. I've been watching 308 prices for 8-months now, the QV cars have been advertised for between $30k and $40k the entire time so I don't think the ads you're seeing in the mid-thirties is anything new. | ||
| Eric Eiland (Eric308gtsiqv)
Member Username: Eric308gtsiqv Post Number: 974 Registered: 11-2001 |
Been noticing that as well, Robert | ||
| Robert McNair (Rrm)
Member Username: Rrm Post Number: 656 Registered: 5-2002 |
I'm noticing most QV's are being advertised in the mid thirties now, were as in the last couple of years they have been selling in the high twenties. I'm curious to see how this will affect 348/355 pricing. |