| Author | Message | ||
| Jerry Slagle (Slag_328gts)
Junior Member Username: Slag_328gts Post Number: 231 Registered: 9-2003 |
My color interior is the crema, so it wears out faster than the darker tan - It's a very light color. | ||
| Tyson Hall (Trhall)
Member Username: Trhall Post Number: 441 Registered: 6-2003 |
Dave heres a 308GTB QV http://www.santiagosc.com/1985%20Ferarri%20308%20GTB%20QV.htm | ||
| Dave328GTB (Hardtop)
Member Username: Hardtop Post Number: 690 Registered: 1-2002 |
V.Z. I have vin#'s for 21 89 GTB's in the US. I have heard from several reliable sources there are about 40 in the US. My research shows a similar number of 88's. but 86-87 are more rare still. I think there are about 125-150 GTB's in the US. Tough to find, but if you want a real challenge, try and find a QV GTB in the US. I think there are less than 50. I see a lot more glass cars. By the way, there were a lot more dealers in 89 than now. My car came from "Big Red's" in Oklahoma originally. Martin, You make a great point. Seats should not need redye at 20K. I know from experience that 328 seats hold up very well, better than 308's or 348's. A 20K car should be in great shape, although plenty of owners go through clutches fast. Jonathon, With Ferraris, every mile is money out the window. A 328 may depreciate at 25-50 cents a mile depending on year and beginning mileage. Like all cars, the early miles hurt the most, so there is economic incentive. The speedo is pathetically easy to disconnect. 328's can still run great with many miles on them, so cosmetics is a big clue. Most cars I have seen look like they match the miles, but some clearly do not. Dave | ||
| Jonathan Harlow (Harlowj)
New member Username: Harlowj Post Number: 4 Registered: 10-2003 |
How common are odometer problems? Are they mechanical or just someone (a lessee) not wanting to pay excess mileage charges? | ||
| Martin - Cavallino Motors (Miami348ts)
Senior Member Username: Miami348ts Post Number: 6412 Registered: 5-2001 |
I have an excellent 328GTS 1989 with ABS, the "sought after" model year. The car is excellent and has NO scratches, does not need re-dying of the leather, has a new clutch and has a major service done. Her eis a classic example why low miles does not reflect good quality. The service was not done by the owner, the clutch is toast, the leather is bad at 20+ Miles, sounds to me like a typical odometer was not working in the past 3 years kind of car. Low Miles my *** ! Look for quality not for miles! You look for miles you get screwed! | ||
| V.Z. (Ama328)
Member Username: Ama328 Post Number: 281 Registered: 11-2002 |
Dave328, i can understand buyer's frustration you mentioned, as wasn't the number of '89 328GTBs brought into the US by Ferrari in the range of 15-20 or so? If so, that's slim pickin's out there for any wanna bees to choose from...i researched a bit of this back in late '88, seems most F dealers only had an allocation of 1 GTB per year, and for 1989, it was a short manufacturing year, which also made things tight. Don't remember exactly how many US dealers there were at the time, but if memory serves, there were about 45 worldwide dealers, so the US count would probably be 20-25ish, at best. | ||
| Dave328GTB (Hardtop)
Member Username: Hardtop Post Number: 689 Registered: 1-2002 |
Mule, When I next revise my will, I'll ask my wife if it's OK. I'll let you know the answer. DAve | ||
| Skip Williamson (Darolls)
Junior Member Username: Darolls Post Number: 153 Registered: 7-2003 |
Sorry to disappoint you guys. Anyways Bruce, I hope you still enjoyed your popcorn!  | ||
| Mule (Mule)
Junior Member Username: Mule Post Number: 110 Registered: 6-2003 |
Dave328GTB, Can I be one of your heirs? | ||
| Anthony R. Jacobazzi (Ajacobazzi)
New member Username: Ajacobazzi Post Number: 48 Registered: 8-2003 |
I recently purchased my first Ferrari; a 1987 328 GTS (Red with Black) and 20,300 miles. Including shipping, a 30K service and air conditioner work, I paid $49,900.00. The car was as perfect as promissed. There may be a total of six road knicks that have been touched up. As far as a new Ferrari owner is concerned, I feel the car is pretty much perfect. People that ask me how many miles are on the car, and I say twenty, they truely believe that I mean twenty miles. I love it, and it's just right for me. | ||
| Dave328GTB (Hardtop)
Member Username: Hardtop Post Number: 687 Registered: 1-2002 |
Here are 3 examples of cars I have seen sell locally in the past 9 months. All 3 sold very quickly. All GTS: 86 green/brown 30+K miles, new service, high 30's. 87 black/tan 30k+ miles. Cosmetically a little weak. Reportedly sound mechanically but last service some years ago. Sold high 30's. 89 red/tan 7K miles, new service. Sold low 60's. Seems anything under 35-36K has stories or are very high mileage. Re: ABS. The system has the reputation of being reliable. I have exercised mine on the track a number of times. It may kick in a little early, but otherwise works fine. I don't think ABS alone should be worth more than 1-2K more, however, the suspension upgrade in late 88 makes a big difference. I had an 87 previously and they feel like very different cars. All 328's are great however. Re: GTB vs GTS. Obviously I have a bias here but after about 5 years of record keeping, I have seen very little difference in selling prices between GTS and GTB's, certainly nothing like reported in the FML asking price index. I have not found any 89 GTB's ever priced at the index, let alone under it, so I don't know where Roush gets that average. I have had several frustrated GTB potential buyers ask if I would sell mine in the last 2 years. I plan for my heirs to get it, hopefully decades from now. Dave | ||
| carlos (Carlos328)
New member Username: Carlos328 Post Number: 23 Registered: 9-2003 |
I bought my 1987 328 gts red/tan in november 2002 in the high 40's. The car had 24,000 miles, a clean car fax, impecable shiny paint, nice interior, new carpets, and fresh service done by tim stanford. I looked everywhere for a 328 and found that once you go under 45, the cars do not look brand new and you have to have service. My car with 24,000 looked nicer and the paint more shiny than a 87 328 with 12,000 a saw at shelton. Maybe I over paid but my example looks new. Also, I have had no PROBLEMS with the car for 11 mts(a/c just needed freon, florida heat). The extra money which I believe I did not over pay was been well worth it to have a ferrari with no mechanical issues. You get what you pay for. No one is going to sell your a great car for under market. My thanks go to tim stanford who keeps the car perfect. Carlos | ||
| jeff ryerson (Atheyg)
Member Username: Atheyg Post Number: 522 Registered: 8-2002 |
Morrie, You are spot on about the prices, also time is money I'd rather pay a fair price and be driving than spending time and money which in the long run will cost more along with the frustration of trying to get a "deal", 328 prices where depressed in the early 90s? I have been watching them for years and find that untrue, I have a record for my 86 328 being puchased in 12/31/92 with 14k miles for $54,500, it also stated on the sales order the car may need a clutch and 15 service. The PO of my car recently bought a pristine 86 with 9k miles for high 50s, most cars I have seen with asking prices in the high 40s low 50s had many blemeshes, dings etc.,along with other issues of needing a service etc,its hard to find a clean 328 a nice 328 in the upper 40s will sell fast | ||
| Morrie (Morrie)
New member Username: Morrie Post Number: 23 Registered: 9-2003 |
The October 2002 issue of Cavallino carried a survey of dealers on selling prices of all models. 86-89 328GTS low $35,000, high $60,000. I have just completed a six-month search before buying my car. I found three red/tan cars that I could have bought in the low 40s. One had 60,000 miles and the dealer admitted it was not in good shape. Another was a euro model with aftermarket wheels and a cream interior. The third had been hit in the rear. I found an 88 with 30,000 miles which might have been buyable at 46-47, but it needed an instant major service. A couple others in the mid to high 40s asking needed service within a year or two, and thus had to be discounted by $4,000. I would also discount any car not red/tan by 10%. I'm told the 89 ABS system wasn't very good, so I didn't put any premium on an 89. In fact many people don't like the wheels. A couple of low mileage cars with recent service and asking prices near 50 were gone by the time I got there. I would say if you see an ad for a red/tan car with less than 20,000 miles, fresh service and an asking price of anything below the very high 40s, don't waste time getting there. | ||
| Bruce Wellington (Bws88tr)
Advanced Member Username: Bws88tr Post Number: 3319 Registered: 4-2002 |
CRAP...AND I JUST GOT BUTTER FOR MY POPCORN  | ||
| Jim Schad (Jim_schad)
Intermediate Member Username: Jim_schad Post Number: 1979 Registered: 7-2002 |
water over the dam is bad. water under the bridge is good. glad to see you two kiss and make up | ||
| Skip Williamson (Darolls)
Junior Member Username: Darolls Post Number: 152 Registered: 7-2003 |
Thank you, Eric. Unfortunately, all too often, true meaning is lost in the written word. At any rate, I'm glad it's 'water over the dam.' | ||
| eric (Eric_lipper)
New member Username: Eric_lipper Post Number: 3 Registered: 10-2003 |
Accepted, thanks Skip. | ||
| Skip Williamson (Darolls)
Junior Member Username: Darolls Post Number: 151 Registered: 7-2003 |
Eric- Sorry for the misunderstanding, you have my apology. If you read my post again, you'll see that at the end of that rather antagonizing sentence, I wrote j/k(just kidding), and also had a smiley face. I wasn't trying to imply that you were actually either of the offending words. I hope you'll accept my apology, as no malice was meant. | ||
| Jim E (Jimpo1)
Advanced Member Username: Jimpo1 Post Number: 2689 Registered: 7-2001 |
I paid less than $40k for my 87 328 w/ 38k miles. It needed a major, which I've done. I've also redone the radiator, new water pump, new AC compressor, new oil cooler (as of today), and few other odds and ends. If I were going to sell it, I'd ask in the low $40's, but now it has 45k miles on it! | ||
| Jonathan Harlow (Harlowj)
New member Username: Harlowj Post Number: 2 Registered: 10-2003 |
Thanks for the encouragement, guys. It has been suggested that I show it at the Rockville (MD) foreign car show this weekend. If the weather is good, I think I'll go down. If nothing else, I will hopefully meet some people who are familiar with these cars, not the ones who think 1st gear is up and to the left. Best case, I might start some sort of dialogue. | ||
| Bruce Wellington (Bws88tr)
Advanced Member Username: Bws88tr Post Number: 3314 Registered: 4-2002 |
OK, HERE WE GO...ILL GET THE POPCORN, WHOSE GETTING THE JUNIOR MINTS?? | ||
| eric (Eric_lipper)
New member Username: Eric_lipper Post Number: 2 Registered: 10-2003 |
First, I am insulted that Skip anyone would use this forum to call someone, who they do not know, a "liar or a fool". It is not my practice to engage in such juvenile banter as it is entirely unproductive. Although tempting, I will forebear for now particularizing any further operative response to his degradation and insults. Second, if Skip the "____" wants to see the receipt for my purchase of the car in 1993 for $38,500, I am happy to show him the purchase order, the buyer's inspection, the NADA book at the time, and the ad from the Houston Chronicle. Obviously he must have put his wallet ahead of his negotiating skills. I bought the car right out of the Houston Chronicle (it was listed for $42,500). I bought it from the original owner but I think I paid the right price because I had looked at others that were priced similarly. I just don't think that there has been any material change (up or down) for these cars in Houston, Texas over the last 10 years. Third, as it relates to the expenses of operation what I called replacement of fuel injectors (2000), also included plugs, caps (700), rotors, labor and tax. What I called redyeing the leather (1000) was expensive but that included, labor, materials and shipping the seats to leatherique since I didn't want to do it myself. Although I may have replaced the covers for just a little more, I didn't know that any reproductions were available at the time. Fourth, beware of the dreaded ignition switch failure. Check around, the switch really does cost between $1800 low to $2400 high. I can't understand why it was so expensive except it is a Ferrari and not a Fiat part. You can get the electrical end only for $200 but unfortunately my tumbler failed. The $2750 did include the labor to put it in which required dropping the steering column, drilling and tapping the bolts. My mechanic got the switch for 1900, the shipping was 50 and the labor was 700 (a day and 1/2) and the tax was 100. Fifth, I still feel pretty good about the car since I have only spent, on average, $1000 per year. And, I certainly could have saved money here and there if I had done part of the work myself. Frankly, putting in an ignition switch is mechanically easy -- it was just time consuming. | ||
| dave handa (Davehanda)
Intermediate Member Username: Davehanda Post Number: 2055 Registered: 5-2001 |
Eric, I just purchased 8 new Bosch fuel injectors (new upgraded version) and 8 new o-rings for the princely sum of $172...Though I will likely have my mechanic install them, I doubt he will charge me more than $200 for this service. All told $400 for new injectors. 1000 miles per year? Either you have too many cars or way too much will power...I did 10k in just over a year, and this is my second Ferrari, my previous one was a 308 GTS, I just can't keep from driving the car as often as possible! :-) | ||
| Skip Williamson (Darolls)
Junior Member Username: Darolls Post Number: 150 Registered: 7-2003 |
Yikes Eric, who do you have doing the work on your car?? I mean, $2000 for injectors, $1000 to re-dye the seats (you could have bought new hides for not much more than that), and $2750 for an ignition switch. And 10 yrs. ago, you only paid $38,500 for the car.......surely your putting us on. All of this is a joke to see if we'd take the bait......right?? Either you're a liar, or a fool! I'm not quite sure which??? j/k :-) | ||
| Gregory (Prugna_328)
Junior Member Username: Prugna_328 Post Number: 76 Registered: 9-2003 |
In one of the magazines on the news stand this month it has a price guide for a couple of diff. Ferraris, the 328 included. I don't remember which mag. it was. GTB 35,000-Don't remember top price. GTS 45,00- Dont remember top price. Not saying this is gospel, just repeating what I saw. | ||
| Robert McNair (Rrm)
Member Username: Rrm Post Number: 724 Registered: 5-2002 |
Two THOUSAND 750 for an ignition switch! | ||
| eric (Eric_lipper)
New member Username: Eric_lipper Post Number: 1 Registered: 10-2003 |
I bought my red/tan 1986 328 GTS ten years ago when it was just a very clean 7 year old Ferrari. To put it in perspective, I paid $38,500 for the car at that time. In 1992/1993 the 328 had fallen out of favor because the 348 was out and the 355 was on the horizon. The car had 20,000 miles when I bought it and, except for a two or three rock chips on the front bumper and a chip on the b pillar where the door glass must have touched the b pillar, the car was perfect. A pre purchase inspection at Ferrari of Houston verified the condition. Since that time, I have spent about $10,000 on the car for major service ($3000), new fuel injectors ($2000), a new radiator ($750), redyeing the seats ($1000), and a new ignition switch ($2750). I feel lucky that my expense of ownership has been fairly reasonable but I chalk that up to a solid car that I have not had to buy a lot of "unobtainable" parts. The ignition switch has been the only repair that took my breath away. Considering that I have driven the car for ten years and put about 10000 miles on it, I feel pretty good that the car would probably sell for the $38,500 I paid. Having been around these cars for ten years, it is my humble opinion that anyone that pays more than $40,000 for a 328 GTS has either paid too much, has paid a premium for some provenance like under 10K miles, trophies, or some rare option, or is just smitten by the car. My only other comment is that I have owned a variety of other cars of this type, Shelbys, Cobras, Corvettes, and a BMW M3 and I have learned that it nevertheless always pays to buy more car than to think that you will fix a few warts cheaply. Just ask my wife what my simple paint job on the Shelby cost and she will remind you that it was the better part of $25K. | ||
| dave handa (Davehanda)
Intermediate Member Username: Davehanda Post Number: 2054 Registered: 5-2001 |
Back to Jerry's original question...with all the stuff needing attention, $35k is about right, maybe a bit less even. Here's my story/data point: 87 328 GTS red/tan 29k miles bought in Aug 2002 great cosmetics, all services up to date, inspected by friend who is painter, says car never been in wreck, may have had bumper and hood resprayed. PPI showed leaky water pump, some oil weeping from cam covers, broken clock, heater air direction control on passenger side inop. Asking $47.5k, paid $41k. Had all the stuff fixed, ended up having a full major service performed (what the hell) and later found the steering rack bushings were bad and had a new one installed. Bottom line, is this...why beat yourself up on whether you paid too much or not? Kinda late to be worrying about it. Get the stuff that needs attention fixed, and start driving it like you stole it! :-) I've put over 10k miles on my 328 and have never regretted the purchase...Did I pay too much? Probably, but it ain't keeping me up late at night. Oh and Morrie, you never regret paying top dollar for a nice example, regardless. So I would never question your decision. Drive on... | ||
| Morrie (Morrie)
New member Username: Morrie Post Number: 22 Registered: 9-2003 |
FWIW, I was too late when I called on several low- mileage, red/tan 328s advertised for less than $50,000. In addition, I found that the service history was such that almost every one would need something soon. Some had low mileage on a major, but were close to the five-year limit, or vice versa. I eventually bought a 12,000 mile 87 GTS red/tan with zero miles on a major service, for less than $50,000, which is as specific as I care to be about the price I paid. Maybe I paid too much, maybe not, but I'll be driving mine for the next year instead of chasing all over Hell looking for just the right car at a couple thou less. | ||
| Roy Kaller (Kaller)
New member Username: Kaller Post Number: 4 Registered: 10-2003 |
Ok, here is my $0.02. I have marketed my 1989 328GTS for sale, on and off, for almost 2 years. I have spoken with dealers, some reputable, some not. I have exchanged e-mails with Gerald Roush at Ferrari Market Letter to better understand his asking price index. Here are beliefs, as flawed as they might be�.. 1. In the market downturn most dealers were determined to hold fast on their pricing. I was told by many dealers that they were �in over the market� on many Ferrari in their inventory. 2. Most dealers have actually accumulated vehicles in the past 3 years. Look at the number of 360 spiders offered well above the MSRP. Given the supply and demand, this is nonsense. What works in the diamond market, can work on a much smaller scale in the automotive market. 3. For better or worse, dealers dominate the Ferrari Market Letter advertisements. 4. Most of the modern cars listed in FML, built in the past 10-15 years, are listed at prices well above the market value where transactions actually occur. 5. The almost 20% premium for a 1989 328GTS (ABS, etc.), over a 1987 328GTS, as assumed by their owners is almost pure fiction in the real market. 6. The Ferrari Market Letter is a very valuable tool for those dealing in the vintage market. 7. I suggest those studying the market integrate information from NADA. NADA is not the end all, but is it another source of information. 8. Ferrari Market Letter is nothing more that it claims to be, and Gerald Roush continues to be one of the few truly knowledgeable gentlemen in business. 9. I traded my wonderful 1989 328GTS (well below FML asking price) on a 1999 550 (also well below FML asking index) last weekend. | ||
| Horsefly (Arlie)
Intermediate Member Username: Arlie Post Number: 1544 Registered: 5-2002 |
"If I lied to others like I have been lied to by those "buying" a car from me, I would have been strung up." But did you hang a price tag on the car from the very start and proclaim that your price was the ABSOLUTE least that you would take for it? Maybe would-be buyers wouldn't be so flakey if the sellers weren't so flakey from the very beginning. Sellers who anty up vague statements like, "I'm taking offers" or "best offer" or "low 30s" or other such garbage deserve the run around from buyers because the sellers themselves are giving a potential buyer the run around from the "git go". It's just a car. HANG A PRICE TAG ON THE THING AND DON'T TAKE ANY LESS THAN THAT. Tell people all this from the start and all the game playing will cease. Or do people REALLY want to play games with each other and horsetrade like a bunch of flea market hagglers? I don't. Buying a can of beans in a grocery store is more dignified than buying a car. At least you know UP FRONT what the price is. | ||
| James Dunne (Audiguy)
Member Username: Audiguy Post Number: 338 Registered: 6-2003 |
Jonathan, I believe you are experiencing what professional car salespeople go through every day. If I lied to others like I have been lied to by those "buying" a car from me, I would have been strung up. Just hang in there. The right person will come along sooner or later and they will give you a decent price. Hold to your guns. If your car is nice, you do not have to "give it away" to some idiot who thinks he can steal it from you because you must be desparate to sell. Even if you are desparate, do not let on that you are. You are holding the goods, it is up to the other guy to "buy" it from you. If you are straight with others about the condition and price of what you are selling, you have nothing to back down from. Good luck in your sale. | ||
| Carstore of Glenside (Carstore)
New member Username: Carstore Post Number: 13 Registered: 9-2003 |
We just sold a 87 GTS with 11,000 miles for $44,500 on eBay. Car had a recent service with belts. Very nice car but an odd color. I think they called it Russo Metallic but I heard it called "The Pink Ferrari" more then once. The car would have done $50 if it was RED! BYW Michael, don't stress on missing that car. Theres always another one around the corner. BIG difference between owning a Ferrari and a Porsche. If you want a Ferrari then stick with your plan, shop carefully and wait for the right one. It will come along. Tom www.carstoreofglenside.com | ||
| chris cummings (Entelechy)
Member Username: Entelechy Post Number: 539 Registered: 5-2001 |
Jonathan, sorry to hear about that. I just sold my Z after buying an M3 and have similar stories. However, the purchase of my BMW was a breeze and I'm extremely happy with it. The owner was an enthusiast, audiophile, and CCA member and kept it immaculate as well as doing all the right tasteful modifications. In fact, we ended up becoming friends in the process. He was thrilled to see how I've been keeping "Lulu" up. My goal is in the next 2-3 years to get a 328 and keep the M as a daily driver. I have a separate account I'm saving for the F-fund. Wish I were ready now, your car looks great! When the time comes I'll be looking for either a black/tan or red/tan. Who knows, maybe I'll buy Daves? Anyway, best of luck with the sale Jerry, I was originally looking for a black/tan M3, but ended up finding the perfect car in silver (my second choice). Literally, two days after I bought the car (after 6 months of keeping an eye on the market), the perfect black/tan appeared for nearly the same price. In the end, I'm really glad with the one I ended up with. Still, after making a major purchase, you DO tend to want to keep an eye on things to guage how you did. In the end, I still feel like a got a pretty good deal, all things considered. Yes, there are others going for less, but these cars are all so individual, and that's a major factor - who owned it before you? How did they take care of it? Was it abused? etc. Things the paperwork can't tell you, and to some extent, even the PPI. The more I got to know the owner, the better I felt all along. I'm not implying that you're regretting or second-guessing your purchase, just letting you know that I've been there Cheers, ~C | ||
| Jonathan Harlow (Harlowj)
New member Username: Harlowj Post Number: 1 Registered: 10-2003 |
I'm a little surprised at the way some of you have been treated by sellers. Let me turn this inside out: I have been trying to sell my '86 328 GTS (it's in 'FerrariAds') and my complaint has to do with those who A) say they're coming over and don't show up or B) show up, take a drive, express interest, and then disappear. I'd rather have someone be honest and tell me his/her reservations so I might deal with them. I suppose people don't want to 'hurt your feelings', but this isn't my homely sister we're talking about, it's a car. | ||
| Kds (Kds)
Member Username: Kds Post Number: 305 Registered: 5-2003 |
Well....FWIW.....dealers up here in Canada usually bid NO MORE than $45-50K CAD for 86-88 328's in good to excellent condition with recent service and records. 89's are what everyone wants. I bid on one last week and wouldn't go over $48K as it needed a major service....the owner wanted $70K HAHAHA !!!! That's a wholesale number of about $30K-$33K USD more or less depending on currency fluctuations. There are a LOT of cars out there listed at stupid money...and the same owners have had them listed for months...some I know of have been for sale for years while they rot away in garages.....never driven or serviced. | ||
| Jerry Slagle (Slag_328gts)
Junior Member Username: Slag_328gts Post Number: 220 Registered: 9-2003 |
Thanks Michael - Just made me feel bad is all. Good luck with the Porsche - I sold my Boxster to my brother a few months ago - I really enjoyed that car. | ||
| Michael C. James (Mjames)
Junior Member Username: Mjames Post Number: 144 Registered: 6-2003 |
Alright, alright, I'm being an ass...sorry. I'm just miffed about the collapse of my 328 purchase after being strung along for over three weeks and counting. I missed out on a 'supposedly' perfect black/tan 328 GTS by less than 24 hours because I got directions to Ocean City, New Jersey instead of Ocean City, MD (insert laugh track here) - that car was being offered for $36K, and was backed up by a PPI from Algar.....when I called to make another appointment, the car was on a flatbed to the new owner. I quit. I'm going to buy a Porsche instead - at least Porsche sellers are HONEST and will actually SELL at a price I can afford. | ||
| Rob Lay (Rob328gts)
Board Administrator Username: Rob328gts Post Number: 6625 Registered: 12-2000 |
Remember too that I think prices are in a valley right now and have been the past couple years. First thing to go are luxury items in these times of business failures and layoffs. The economy is improving and it will stabilize the lower priced Ferraris first. | ||
| Dennis (Bighead)
Member Username: Bighead Post Number: 263 Registered: 2-2003 |
I helped a very good friend of mine buy a 328 GTS this past July. 1986 model, Red/tan, 35k mi, all services done (including the 30k) with all records, no accidents, no paintwork, clean pre-purchase inspection, mechanical condition was excellent, cosmetic condition was probably a 2 (on the Sports Car Market scale). The seller advertised in a bunch of places for $41k-$44k, and didn't get any real interest. After some negotiation, my friend bought it for $36k. Just another data point. vty, --Dennis | ||
| Rob Lay (Rob328gts)
Board Administrator Username: Rob328gts Post Number: 6623 Registered: 12-2000 |
Michael's comment was a little harsh, another beauty of the one dimensional internet. | ||
| Jerry Slagle (Slag_328gts)
Junior Member Username: Slag_328gts Post Number: 219 Registered: 9-2003 |
I agree Rob - If I had been on this board regularly before the purchase, I definitely would have sought everyone's opinion. I just think to suggest since I didn't ask this board, I overpaid. Just thought that was a harsh comment to a new owner trying to get some insight on the wide range of prices out there. | ||
| Rob Lay (Rob328gts)
Board Administrator Username: Rob328gts Post Number: 6622 Registered: 12-2000 |
When it comes to the true retail values of Ferrari, what to look out for, who to trust, and what things aren't important I think FerrariChat.com is at it's best. Many have saved thousands of dollars just by being better informed. That's the beauty of the internet. | ||
| Jerry Slagle (Slag_328gts)
Junior Member Username: Slag_328gts Post Number: 218 Registered: 9-2003 |
Ouch Michael - Pretty harsh don't you think - Especially since I never mentioned what I paid for it. I wasn't a member of the Ferrari market letter before I bought the car. I just compared what all the cars were going for in different places - Ebay, Dupont, Dealers, etc. Of course I took into account the service issue and clutch. I saw one on Dupont for $52 that was pretty nice & asked the guy if he was willing to consider $46 - The guy was pissed and very offended I would even make an offer so low. Just because I didn't ask HERE Michael doesn't mean I overpaid, just wanted to get everyone's opinion here on it now that I am reading this site more often. Not sure why you made that comment.... But if you bet your ass I overpaid, well, you just lost your ass. I paid within the range everyone here has stated with the exception of Dave's 35K mark, which I would still contend looks a bit low. Bottom line Michael, just because I didn't ask HERE first, doesn't mean I overpaid & I find that remark pretty condescending. | ||
| Steven R. Rochlin (Enjoythemusic)
Member Username: Enjoythemusic Post Number: 814 Registered: 4-2002 |
Love this thread and here's why. An educated BUYER will: 1. Know the difference between the truth and what a seller says about their car. proper records and PPI's help here. 2. Know people with truly great cars. The buyer will pay a bit more for these rare "known good" examples. 3. Realize that you get what you pay for. 4. Understand virtually every car has a "story" to tell. The "story" can be good or not so good. Adjust price accordingly 5. Desire a major service RECENTLY be done by a KNOWN GOOD service agent. Better still, have the seller lower the price and get your own KNOWN GOOD mechanic service the car. JUST BECAUSE THE CAR RECENTLY HAD A MAJOR SERVICE DONE DOES NOT MEAN THAT CAR HAS NO ISSUES!!!!! In the end it took no less than FOUR PPIs before deciding on an example. Sure there are lackluster $38k early model with high milage Ferrari 328 cars out there, but is that truly what you WANT to have? Perhaps you do IF you plan on investing funds to make her "right". Most educated buyers will desire a later, more refined and sorted out 328. Personally, i'll put the 1985 Euro 308GTS QV here against any early USA 328. The above are simply my opinions. WARNING: my opinions and $4 gets me a cup of espresso in Las Vegas. Enjoy the Drive, Steven R. Rochlin | ||
| Michael C. James (Mjames)
Junior Member Username: Mjames Post Number: 142 Registered: 6-2003 |
There was a poster not long ago offering his 328 for NO LESS THAN $52K - nobody said his car was 'museum quality', but nobody said he was out-of-line, either. I guess this guy had a lot of friends here... I've ran into a few sellers who had no clue what 'current service' meant, and weren't interested in hearing about $3,000 Major Service requirements prior-to-purchase, either. Ferraris attract a fair amount of totally-uninformed buyers, and most sellers would definitely prefer to do business with one rather than someone who could point out faults with the seller's car. Funny how this thread started - Mr. Slagle asking what the car was worth AFTER he bought it. Did he pay too much? You bet your ASS he did. | ||
| Rob Lay (Rob328gts)
Board Administrator Username: Rob328gts Post Number: 6617 Registered: 12-2000 |
An average 328 would go for about the same as a Platnium QV. An average 328 is one that needs a major, 30k+ miles, been driven and shows a little. A 328 retail will hardly ever go for less than $35-37k. The majority go for $38-42k. A perfect '89 red/tan maybe low $50's. | ||
| John Striegel (John328)
New member Username: John328 Post Number: 44 Registered: 1-2003 |
I bought a 87 328 GTS in Dec of 02, red/black with a full service 40,000 miles, I thouhgt I got a bargain at 40,000. I don't see prices going down much if any. I live the SF bay area | ||
| Jim Schad (Jim_schad)
Intermediate Member Username: Jim_schad Post Number: 1960 Registered: 7-2002 |
I say $35K to $45K for a range of okay to really good. the ones at $48K to $55K must be museum quality with current services up to date. The onese at $59K and above are just silly to me unless you have more money than sense. | ||
| Jerry Slagle (Slag_328gts)
Junior Member Username: Slag_328gts Post Number: 217 Registered: 9-2003 |
35K for a nice 328 seems awfully low - here are all the 328's in the Market Letter in the classifieds : 328 GTS, Euro, 35,775 Miles, $44,500 328 GTS, US 1986, 60K Miles, $44,900 328 GTS, US 1986, 19,982 Miles, $52,000 328 GTS, US 1987, 18,194 Miles, $49,900 328 GTS, 1988, $51,000 328 GTS, 1988, 5,871 Miles, $60,000 328 GTS, 1988, 750 Miles, $76,000 328 GTS, 1989, 46K Miles, $49,500 328 GTS, 1989, 7,250 Miles, $68,500 62,500 49,000 58,500 49,500 55,500 46,800 Given this sample, I am not sure how 35K is a relevant price??? Where is the owner willing to sell a nice 328 for 35K?? I would have to agree with Michael - Not sure there is an owner out there willing to sell a nice 328 for 35K..... | ||
| Charles J. Ligon (Exoticbro)
New member Username: Exoticbro Post Number: 19 Registered: 4-2003 |
I believe prices have settled, and there seems to be an overlap in pricing. You can buy a real nice well documented QV for mid-high $30's or a nice but not as well documented or higher mileage 328 in the same range. | ||
| Michael C. James (Mjames)
Junior Member Username: Mjames Post Number: 139 Registered: 6-2003 |
People who sell 328s expect them to sell higher than the going rate for 308 QVs. Look at where the 308 QV market is today - sellers may have to come down from their asking price a bit, but there are many cash-money buyers out there who will pay ANYTHING for the 'right' car. I've seen several 308 QVs offered (and some SELLING) for the high, high 30K range. The 328 sellers are expecting more for their cars, since their cars are newer and offer more power/refinement. I 'bought' a 328 from a seller in PA three/four weeks ago for the mid 30K range, in alittle better shape than Jerry describes for the car he's looking at. I don't have the vehicle yet, because the seller can't produce the vehicle - he hasn't cashed my checks. I suspect he wants to hold out for a better offer. The car was advertised on the web, so he's been getting phone calls from other 'buyers'. The prices I see below are great deals, if you can get a seller to take these lowball figures. I'd like to hear from a seller who would own up to giving away a 28K-mile 328 for $35K.....I don't think one exists. | ||
| Dave Quick (Davequick)
New member Username: Davequick Post Number: 40 Registered: 5-2003 |
remember - as Gerald Rouche (publisher of the Ferrari Market Letter) always reminds people.... The ASKING Price Index is ASKING PRICES. I have a 328 I will be selling next year, but I won't get what is listed in hte FML API unless some sucker offers it - but I think I'd feel bad and make him offer a proper amount for the car so that if we run across each other later in life I'd have many positive karma points. My interpretation of 328 market = Good car, major service, etc. = FML API * .9 (i.e. 10% less than FML API) Good car, NEEDS major service = FML API * .8 Less than "good" car, needs sercvice = FML API * .7 All of these = wholesale of FML * .55. Yes, you heard me right - if you went to trade in your 328 on a new ferrari the dealer might (MIGHT) give you high 20s or low 30s. But in a priveate market I believe a mid 30s is a fair and reasonable price for a car with appropriate services and a recent history of good running order (i.e. 5 years with at least 1k miles a year on the car with a major service < 3 years ago by a reputable mechanic/shop). This is in line with what I expect to recieve for my 1987 Ferrari 328 GTS which is #66427 and produced in September of 1986. -dq | ||
| Jerry Slagle (Slag_328gts)
Junior Member Username: Slag_328gts Post Number: 211 Registered: 9-2003 |
I just signed up for the Ferrari Market Letter... Looking at it, it looks like they go for around 45,780. Not sure what considerations that takes into account. I mean is that the highest point, or the average? | ||
| Jerry Slagle (Slag_328gts)
Junior Member Username: Slag_328gts Post Number: 204 Registered: 9-2003 |
Should be out of the shop on Friday, but I will be in Laughlin. Should pick it up next Monday then. On the opening statement, I should have mentioned it needed a new clutch also. | ||
| Jordan Witherspoon (Jordan747_400)
Intermediate Member Username: Jordan747_400 Post Number: 2214 Registered: 12-2002 |
I second the 35-40k mark. 87 isnt the most popular year for the 328 and the lack of major service should bring the price down about 5k...not ot mention the possible interior work. Plus, your car is an off color...beautiful, however! I dont think I would ever look at a 328 for over 50k. How is your car doing btw? When is it comming back from the shop? | ||
| Robert McNair (Rrm)
Member Username: Rrm Post Number: 712 Registered: 5-2002 |
In would say 35 to 40k tops. | ||
| Jerry Slagle (Slag_328gts)
Junior Member Username: Slag_328gts Post Number: 203 Registered: 9-2003 |
I am curious as to what the going rate is for a 1987 GTS as follows : 1) Could use a major service 2) One scratch on bumper 3) Interior need to be re-dyed 4) 28K Miles I recently bought one and was just curious if I did alright or if I overpaid (I would rather not say what I paid, lol). I am seeing 2 on Ebay that seem high - On one, the starting bid is 55K while the other, the bid starts at 58K. |