I know that this notion has been tossed around on other threads but I thought that it might be interesting to start one. As we all know by now, the Dino was in the past considered Ferrari"s red-headed stepchild...a fiat engine and badged "Dino" instead of Ferrari. Now it's a highly sought $250K+ car. I bought my 308 8 years ago and I can now easily ask double of what I paid for it. So, will the 308 ever become a $250+ car like it's older brother? It would be interesting to hear your thoughts/opinions on this Ciao!
No. It will not. And I like them just fine having owned a 328. All prices on 3x8 are regressing. Robb
The 328 Berlinetta was the model I had my eye on for years. Ended up with a Testarossa instead, OH well!!! Love the 12cyl.
They absolutely will become the next Dino and probably even more so! Kidding.... To me it seems like they will go up at least some, maybe not to that level. In 10 years there will most likely even be fewer available and you would think nice ones would go for more than they are today but who knows. Hagerty says they double in 10 years but again...who knows.
Supply & Demand. 308/328 were vastly more produced than the Dino's. rarity drives the Dino's price. Early and late Carb 308's will go up,,, especially fiberglass ones. but I doubt they get to $200k.... un less inflation is helping. I think the average 308 - will settle in at $65K - $100K ... depending on condition. 328's maybe $10K more with the last of the line bringing the premium. GTB's over GTS... You will not get rich on any 308/328's... but they still will be great cars... icons of their age.
I agree that it won't hit the Dino's price, but I'm not sure that's entirely driven by supply and demand. Mid-year Corvettes were made in boatloads, and even base 327 / auto cars are $80,000+ in excellent condition. The closest Ferrari in terms of production numbers (and era for that matter) is the Testarossa. A good Testarossa is worth $20,000 more than a comparable 308, yet was produced in about the same numbers. FWIW
No. Dino was made in much smaller numbers, Dino is THE car that late 50 and 60 year old men pined for in their youth. Their kids living in the basement who would in theory buy the car: 1) Don't know who magnum PI even is. 2) Grew up with a different car above their bed. I don't know anyone in my generation that wants a 308. They might like to add it to their collection in addition to their 355 and 360.. but it's not THE car to have. Every single woman at C+C when the 246 shows up comments how it's a cute cool car. That says something about it's design.
When the current generation of baby boomers passes on.. so too will the massively overpriced muscle car. Vette owners are a bunch of old men. And this 327 hemi being priced astronomically will regress with time. The Vette was what the boomers wished they had in their teenage years. So they buy them and they sit in a garage somewhere. There is absolutely no reason a Vette should be prices above $30k.
So far the market says no. It took 20 years for my 308 QV's value to rise (on average) by a chicken **** $10,000. I paid 34.5K for mine in 97. that was a good fair average price then. That is just under 53K in today's dollars. Look around and you will find most QV's going for something in the 60's. No one would love seeing these things shoot to the moon more than me but I have given up expecting it to happen. They flirted with it in 2015 and STILL couldn't get over that 100K hump and STAY there.
Both sides of the supply/demand. The 3x8s were made in larger numbers. And, even now, there are more "Miami Vice" than "Magnum" generation. I think too many of the next generation has been conditioned to feel ashamed of driving at all, even in an electric. And urban gridlock plus cell phone distractions are reducing the numbers of those who enjoy driving The 3x8s will always be popular with those who dislike computers in cars. But the number of car buffs is declining in each generation.
Sure but that supports that supply doesn't really factor in as much. That's not to say rarity isn't a factor, but Yugos are a rarity and no one wants them. Price is driven more by demand than supply with respect to autos. The fact that the 308 was made in "higher numbers" isn't really a factor. It's that people don't want them as much as a Testarossa (for example).
Let's start with what the actual value is. - The Dino (in 2017 dollars) sold for ~$95,000. In 45 years, the value has increased 260%. - The QV (in 2017 dollars) sold for ~$178,750. In 33 years, the value has dropped 74%. If one wishes to compare Corvette values, then compare a '63 Split with a generic '78, and the original 1984 C4. The former sells in the $80-150K range, while the other two are regularly listed under $15K. As a non-historian enthusiast, here's my take: The Dino was the "first" of what became the modern Ferrari brand and look for a production car. The curves, the ducts, etc. That, plus the rarity, is why it demands more value. The 3x8, for all their greatness, are not the first. They are the children (and there are far more of them.) The only way I see a 3x8 being valued at $250K, is because currency values have shifted to the point that the Dino has become a $1M car. Which also indicates milk would be $17/gallon.
I'll agree with you on this. Interesting that both were icons of their age. I was just on Petrolicious and I'm surprised at the "asking" prices. We all have our personal valuations. for me, personally, I'm always surprised the 308 sells above $35k..
What most people don't consider is attrition. Many 308s have been destroyed, damaged, modified, etc. And with prices on the 308 GTSi hovering at the $50k range, many owners are neglecting their cars. I was shopping for a quality 308 last year, and was shocked by how many specimens suffered from rust, tacky mods, etc. I don't think the 308 prices will ever match Dino values because 308s will simply never be as rare. But I do believe the concours grade 308s will become more rare, and therefore, more valuable, with time. That having been said, I don't think the 308s are a financial investment. Your dividend comes in the form of smiles and exhilaration, not in the form of a dollar payout. Drive them. Enjoy them. Don't worry about capital gains. - Sam in Saratoga
What is being sold isn't a car but an applied perception. People are buying these because they think someone else will come along and pay a higher price. Perception is what people are trading here. A delusion. The essence of the object is completely independent of peoples delusional perception of it. You can create whatever fantasy reasons you like to increase the 'price' of this perception, at the end of the day the 308 is a 70's era Ferrari. That is all. If you understand this concept than the answer to your question is simple. Do you believe in magic like most of the society does? If yes, then sure, it absolutely is possible.
I have no idea what why Dino's cost what they do aside from the high cost of restoring one. But, that's true of a lot of cars. I owned one for 15 years. Honestly, it's not a great car when you are talking about "a car". The criticisms it got vs the 911 at the time were well founded. The 911 was a lot better car. It's pretty. But it's not fast, breaks all the time, the gearbox is balky especially when cold, 2nd gear grinds, its hot inside, it smells of gas and oil, the seats have zero side support, if you are 6 feet tall your knee hits the steering wheel and shifter, and the fit and finish were more like something from the 60's than the 70's. And it was built in pretty high numbers for a car of its type The only thing going for it are looks and personality. But that doesn't explain the fascination with it today. So, who can figure? 15 years ago no one would have said the Dino would be "valuable" either.