Barrett Jackson 348

Market

 

Really? I thougt it was a steal ; the 348 market is that low?

 

348 market is lower than 308 or 328.

 

Wow; didn't realize that - worth investigating further....always loved the 348 Spider....

 

Remember, this is an "auction" value. Seller was obviously desperate to move the car.
With patience, etc I'm sure it could have sold for more.
Auction 'whole sale' prices are just that.

 

$37,400 with buyers commission, definitely market price.

 

...also, Barret Jackson has a $500 bidder registration fee in addition to the 10% buyers premium. $37,900 all-in. Nevertheless, its still a nice buy.

 

I realize that is market, but I still think it is a steal

 

"Clean Car Fax, originally from Colorado, 4 years in Scottsdale and the last 8 years in New Mexico. 20,243 original miles. This car has all books and current records of maintenance. New owner will receive custom fit car cover, all original leather enclosed extra Ferrari tools and replacement bulbs, leather encased owner's manual and original factory Window Sticker all in great condition. This car has always been in the desert southwest region and is rust-free. "

Sounds like market for this car. I would guess that Major is way over due and that by "current records of maintenance" they mean they have some recent receipts, not full maintenance records. So it seems like the typical poorly maintained undocumented 1990 348. I understand market on those is about $35,000 right now.

 

I'd take $35k right now for mine. Cash and carry. How about you Ernie?

 

Perhaps, but this car was (via-photos and TV coverage) very nice. The engine looked excellent with tidy valve covers and a well kept bay, and the black paint looked to be devoid of multiple rock chips. The interior was Crema and looked new. My Son & I discussed this car as it rolled thorough. We did the same calculation you guys did and came up with basically a $40k number after fees & shipping it home. Then add the possibility of a engine out service and you have real money - in a nice Ferrari.

But let it be known that the car appeared to be better than average. I would want to drive it though to listen to the transmission... Imagine if it were making noise.

Lastly someone posted "Seller was obviously desperate to move the car" - I can't see that statement reflecting any accuracy. I know a lot of people that take cars yearly to B-J just to get a higher bid then any average auction / and then buy something else that suits their current mood. All the times I have been at B-J I cant recall ever seeing any desperation.

 

Keep in mind the car is a 1990, later cars bring more money as do the Spiders and of course anything not Red/Tan goes for a bit less.

Still sad to see these cars sell for less than a used Camery

 

I saw a Murciellago that went on that auction house for 70K. Now, that sounded like a ridiculous deal. Even the commentators were quiete surprised.

 

That certainly is ridiculous

 

Saw that too. Unbelievable!

 

If the maintenance is up to date it really is. That's a lot of car for the money...

 

Moorespeed in Austin has a very nice, fully sorted coupe...or did.

 

Oh HECK YEAH I would! Minus the headers of course.

 

what does a a samiliar conditon 348ss go for then ? is there any real lift for it ?

 

I really have no idea why anyone would buy a car like this in an auction unless you wanted a bargain. You can't touch it, you can't drive it, you can't see any records that aren't presented to you, you can't do a PPI...

that has to be worth a discount if you're seriously looking to buy one. It's not like there isn't a bunch of other cars out there now to look at.

 

If you're there in person you can touch it; talk to the owner, hear it run ( you can't drive it though) review records etc....
The PPI thing is debatable - people bought exotics for 20, 30, 40 years before this ppi craze took off.
I bought mine without a PPI (meticulously maintained - with 2 inches of records from day 1); runs perfect for over 5 years now.
Any car that is used that has a PPI will always show things it needs....
'Paralysis by analysis' seems to take precedent when people get PPI results.....
Kevin

 

I've been to that exact auction and, to be frank, it's a good place to move questionable iron. You have to trust what is given to you.

If I'm buying an exotic with only that information, I'm not doing it without a discount. There is just frankly no advantage otherwise.

That's why your run of the mill exotic prices seem low at auctions. There's only 20 or so 348's in Hemmings every month. There is no 348 shortage.

 

Its not a total roll of the dice buying a car at auction. Most auctions allow plenty of time to preview the car prior to the sale, which includes starting it, and sometimes driving it around their facility. Secondly, most cars run "green light," which comes with the ability to arbitrate the vehicle for various issues after one purchases the car. The arbitration time period can vary from, before the car leaves the premises, to forever (for unannounced mileage discrepancies), and can cover numerous issues that can not be detected prior to purchase. So you're not totally up the creek if you find something after you purchase the car.

 

I feel very sad to see the price of these cars. If i only think how much I paid mine only 2 1/2 years ago .... and how much i put in too !