| Author |
Message |
Mark Starnes (Surfermark)
New member
Username: Surfermark
Post Number: 6
Registered: 8-2003
| | Posted on Thursday, August 14, 2003 - 3:32 pm: | |
Thanks for the info.....no better way to learn how an exotic car runs and works than to buy one that needs work.....and to rebuild one if I have to! That is the fun part |
Steve Magnusson (91tr)
Intermediate Member
Username: 91tr
Post Number: 2033
Registered: 1-2001
| | Posted on Thursday, August 14, 2003 - 3:28 pm: | |
Both good answers. I think at the $15K you'd have no downside risk (even if the engine is a lump), but in any case this will be a significant project -- I salute your enthusiasm!
BTW, welcome to FChat... |
Mark Starnes (Surfermark)
New member
Username: Surfermark
Post Number: 5
Registered: 8-2003
| | Posted on Thursday, August 14, 2003 - 3:14 pm: | |
The Car is a 1987 328 GTS, red in Color, tan interior, made for export to the USA, has been registered in California....had 2 registered owners since it was new. It has not been registered since 1994, as the License plate tags registration read 1994. |
Steve Magnusson (91tr)
Intermediate Member
Username: 91tr
Post Number: 2032
Registered: 1-2001
| | Posted on Thursday, August 14, 2003 - 2:58 pm: | |
Mark -- What version per the VIN and what colors? Assuming it's US and not molested, I think you'd get competition at $15K from the F car wreckers; at $20K it's probably a bit of a gift to the seller (unless it luckily proves to be very untroublesome to sort it out) so you're in the right range. I'd love to see this on eBay at no reserve just to see bidding.
(The tough part is the guy bought it somewhere between new and '95 so he probably payed $60K or more.) |
Mark Starnes (Surfermark)
New member
Username: Surfermark
Post Number: 4
Registered: 8-2003
| | Posted on Thursday, August 14, 2003 - 2:41 pm: | |
She wants me to offer her a price.....she has no price in mind and does not know about Ferrari's value.....So I want to offer her a fair value but be armed with info on how much costs I might have to put into it. So I was thinking of oferring $15K-$20K based on the amount it might take to get it going again..... |
Dom Vitarella (Dom)
Member
Username: Dom
Post Number: 385
Registered: 11-2002
| | Posted on Thursday, August 14, 2003 - 1:05 pm: | |
If you can get the car cheap enough, it sounds like the proverbial "barn find" that everyone talks about. Especially if you are planning to do some of the work yourself. What kind of money is this woman looking to get?
Dom |
Jim E (Jimpo1)
Intermediate Member
Username: Jimpo1
Post Number: 2298
Registered: 7-2001
| | Posted on Thursday, August 14, 2003 - 12:57 pm: | |
I plan on $1k/yr for maintenance, not including things like tires. You need a 30k service every 5 years at $2k-$5k depending on your mechanic. But you never know what surprises are lurking. My car went to the shop this morning. I'm hoping for a $200 repair, but it could get ugly fast. |
Jim E (Jimpo1)
Intermediate Member
Username: Jimpo1
Post Number: 2297
Registered: 7-2001
| | Posted on Thursday, August 14, 2003 - 12:55 pm: | |
My thoughts are along the lines of the others here. If you're lucky, and you might be, I'd figure $10k after purchase. If you're not lucky, it could hit $20k pretty fast. I put $2k into my car unexpectedly the first day I owned it. |
Mark Starnes (Surfermark)
New member
Username: Surfermark
Post Number: 3
Registered: 8-2003
| | Posted on Thursday, August 14, 2003 - 12:51 pm: | |
Ok so my next question is: if I buy this 1987 328 GTS, spend the $$ to get it in really good running and drivable condition, what is the typical yearly up-keep cost on a 328.....excuse the question but I am a novice at this, and it would be my first Ferrari purchase�.My Dad and I are very good mechanics so small regular stuff that goes wrong we could fix�meaning I would not have to take it in to a dealer every time small thing goes wrong�..I just know I love Ferrari models 308 and 328 and it is time in my life to buy one....but once I buy one I would like to know just typical costs for yearly up-keep of a 328 in good running order...assuming weekend driving, no racing, with current 27K miles on the car. Thanks for al the suggestions so far, all of you have been very helpful since I am a novice�but you have to start somewhere right� |
Dave328GTB (Hardtop)
Member
Username: Hardtop
Post Number: 655
Registered: 1-2002
| | Posted on Thursday, August 14, 2003 - 11:30 am: | |
I think if I'm looking at this car, I have to think 15K minimum and would rather figure 20K after purchase, and even that would not be entirely safe. One thing not to overlook is the brake system. After sitting, figure master cylinder rebuild, caliper rebuilds and if there has been water in the lines all this time, I would feel a lot better with new brake lines too.
Then there are other questions like will the fuel system work properly or is everything clogged with varnish, etc.
I have seen cars for sale that were "just taken out of storage" and had 20-25K put in to bring them back.
You could get lucky and it would be done for 10K, but doubtful.
When all is said, done and sorted, you want to be in this car at 40K max and even less if you consider your time and risk valuable.
Dave |
Mitchell Le (Yelcab1)
Member
Username: Yelcab1
Post Number: 638
Registered: 11-2001
| | Posted on Thursday, August 14, 2003 - 11:15 am: | |
Low '30 would be generous. Good 328s are going for high 30's. This car WILL require minimum $10K of work to be safely driven. Of course, you could luck out. |
dave handa (Davehanda)
Intermediate Member
Username: Davehanda
Post Number: 1594
Registered: 5-2001
| | Posted on Thursday, August 14, 2003 - 11:11 am: | |
Okay, with those further details, I will further Steve's comments and update mine to the car being worth maybe low thirties tops, as there is a LOT of work ahead for this car. It will be a crap shoot, cause it will be hard to do a PPI, since it could potentially need just about anything.....or everything |
Mark Starnes (Surfermark)
New member
Username: Surfermark
Post Number: 2
Registered: 8-2003
| | Posted on Thursday, August 14, 2003 - 10:50 am: | |
The history on the 328 is as follows: The owner was an older gentleman who passed away about 8 years ago, and it has been owned by his elderly wife these last years. She has kept it for sentimental reasons, not driven it. It was in perfect running order when he died as she has all the maintenance records. I live in Marin County, CA and only .5 miles from a Ferrari dealer, so getting it checked out will be easy. Tires are flat from sitting, and I think it has not been run very often if at all these past years, I just happen to notice it sitting in her garage with flat tires for several months as it is 4 houses away from where I live, so I enquired about the car�she has never thought about selling it until I asked her and she is willing and open to selling it to me. Of course I want a good deal on the car, but I do need to understand the costs involved in getting such a car running again and what it would be worth to purchase. I am a first time Ferrari owner, and have money to spend on it to get it up an going�My father and I like project cars when we can get a good deal�as I bought and restored a 1954 Jensen 541 15 years ago�..I just need to understand fair market value on a 1987 328 GTS Ferrari that has been sitting for so long and what typically goes wrong with Ferraris when they sit like this�.as I know owning a Ferrari can be a money pit�..but I have always dreamed of owning one�..Miles are 27K, never been in an accident, she has all records. Paint is immaculate, not a dent or scratch anywhere on the car, interior is perfect. It has just been sitting in a garage for 8 years. |
Steve Magnusson (91tr)
Intermediate Member
Username: 91tr
Post Number: 2028
Registered: 1-2001
| | Posted on Thursday, August 14, 2003 - 9:14 am: | |
I'll be a little harsher than Dave and say that somebody's got to invest probably a couple of $K (if they don't do it themselves) to even find out if this is a project really worth taking forward. 8 years of disuse? -- you've really got to pre-lubricate the cylinder walls, give it a few hand spins, and have fresh fuel/oil/battery BEFORE turning the key (and then do the oil again) and that's if you want to take the risk of firing it up on ~10+ year-old belts (and it would be a miracle if it was put away without some problem). IMO, it's a parts car -- granted it's probably the best 328 parts car on the planet, but -- $20~$25K max until proven/shown otherwise. |
dave handa (Davehanda)
Intermediate Member
Username: Davehanda
Post Number: 1591
Registered: 5-2001
| | Posted on Wednesday, August 13, 2003 - 11:19 pm: | |
It's all about the miles and cosmetics; if they are low/excellent, then the car is probably worth high thirties (maybe low forties). Expect to drop another $5k minimum to have a major service performed, and repair/replace any difficiencies, such as tires (old and hard now), maybe bad brake calipers, etc. This car will need a thorough Pre-purchase inspection by an Ferrari specialist to confirm what will need to be done. You'd be surprised at the amount of stuff that goes bad/wrong just from sitting.... The problem is that either way, it is a bit of a "crap shoot" as even the mechanic won't know exactly how bad things are until stuff starts getting taken apart? Has the car even been started recently? |
Mark Starnes (Surfermark)
New member
Username: Surfermark
Post Number: 1
Registered: 8-2003
| | Posted on Wednesday, August 13, 2003 - 10:58 pm: | |
I have the opportunity to buy a 1987 328 GTS in California, great condition inside and out. Here is the issue. The car has not been registered and driven in over 8 years. It has a clean VIN# check. Since it has not been driven in so long, what can I expect cost wise to get it up and running? i.e what would be an estimated cost just to make the car mechanically sound since it has not been driven in so long? What would it likely need as new or rebuilt: Tires, Fuel injectors, line, engine repair etc. What would be a reasonable price to pay for such a car with these unknowns? I need help as I want to buy the 528 outright or trade my 1954 Jensen 541 for the Ferrair 328! |