Why Are 348's so Cheap?

Dont be sorry about the pics! Your car looks fantastic.
Although i wish the 348's were as cheap here,as they are there in the US for you guys.
US$50K is $AU$65K. You cant even get a nice 308 for that here in Aus. The 348's here average around the AU$100K-$120K.
Great cars but!!!!
Awwwwwwwwwwwwww just one new pic of mine please boss
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SSSSSSHHHHH! Don't tell a soul. If we keep the secret to ourselves, we'll have a lifetime supply at a reasonable cost!

 

I think that back when the 348 came out, several magazine editors were upset at the "Ferrari Bubble" (F40's were selling for $1 Million each in 1989 Dollars, far above sticker price). Plus, the magazine writers were in rice mode...they wanted tire pressure sensors and variable cam timing (e.g. the NSX's VTEC) and various gimmicks...plus, the magazines had been criticized prior to that for being too "pro-Ferrari."

Enzo had passed away, and enough time had elapsed that the magazines probably thought that they could bash Ferrari a bit.

In other words, the 348 had bad market timing (even though it's a very high selling model for Ferrari ~~8,700 vehicles).

Certainly the car magazine writers weren't going to be kind to a new Ferrari model at that point that didn't have cruise control, didn't have power steering, didn't have a cup holder, didn't have power seats, and that shifted harshly into 2nd gear when cold if the owner used the OEM tranny fluid instead of something reasonable.

So they ignored or bashed the car's looks, handling, and performance undeservedly. This was especially tragic because the entire car industry could have benefitted from hype and promotion of Ferrari's wonderful re-invention of gentlemen racing with the 348 Challenge Series.

Car magazines that go out of business have their anti-348 bias to blame for their demise as much or more than the change in readership over from print to the Internet...because the magazines blew a great opportunity to laud a car and a race series that could have had widespread popularity **outside** of just the elite Ferrari circles/cliques.

Was a missing cupholder really that important at the time?!

No matter. The deed is done. The 348 got bad press.

But you, as well as all of our friends, have driven the 348. We know the dirty little secret of the auto world...that the 348 rocks!

Something quite contrary to the press at the time.

But that's why they are cheap. Well, that, plus prior to the Internet 348 owners had few options for keeping down maintenance costs and keeping up road time.

 

Too easy cheif,ill do it asap

 

yes Sir...

 

348's are a bit like XJC Jaguars (1975-1977 models) - they are sleeping giants - IMHO. Only time will vindicate.

 

Sh*t,sorry man,i just sent them to [email protected] Will you still get them?

 

Um............so did you get them?? Or you want me to resend them to the other email add?

 

I agree that the 348 is a real bargain in the exotic world. The interesting thing to me is that with the high number of cars produced it is rare to see more than one at a time at any given event (Cavallino had two this year). I think the price is based on a perceived value in the iconic 308 / 328 series being optimistic and the bad press 348 prices being pessimistic. But for those of us that chose the 348 we usually are pretty happy with the choice. (Obligatory photo of my 348 attached)

BT
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Hehe,very good

 

i vote that nobody here ever sells their 348 for less thn 75k . lets see what happens to the market then ... if you have a bunch of for sale ads in that price range , the others will follow ...

 

IMHO the group shot near the top of this thread, where the 348 is first in line, beside the 355's and 360's.....I'd have to say the 348 is the most beatiful one of the group.

Anyone feel otherwise?

Wes

 

I think what you are seeing is alot of less than stellar models, high milage cars or neglected cars selling for discounts. That seemed to happen to 308/328 four or five years ago.

I don't see any of the cars on this thread selling for less than $55 or $60K IMHO. I don't see many 308 or even 328 going for $60K. Time will tell. As nicer cas become more rare I think you will see some valuation like 308/328.

Oh, I had to include a picture.
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03 Maserati Coupe/Spyder 390hp, 1 year left on warranty, reliability, low-maintenance, need I go on. Not a Ferrari at the end of the day but I consider it an exotic.

Either way I do agree with you that the 348 is the best bargain out there if you want bang for your buck.

 

Then a 348 would never sell....

I had a 348, it was not a bad car but I never really warmed up to it.

The handling is unpredictable on the early cars, styling is dated to some.

I think the kiss of death came when Luca took over Ferrari he made the statement that the 348 was the worst car Ferrari ever built and replaced it with the F355 which is light years ahead of a 348.

We are seeing 328's selling higher than some 348's now and I think that trend will continue.

I think the 348's are priced accordingly and with thier reputation for handling, build quality and low hp, they can be a tough sell...

I would drive it, enjoy it, but I do not think you will not see any appreciation on these cars.

 

I certainly don't expect appreciation, but then again I wouldn't on a 355 either. They are both falling at present, over here anyway.

 

The Hp increase is 85hp. The downforce difference and handling is the biggest difference, and yes you are correct, the 348 box is extremely crude, the F355 box is much smoother and better. Overall build quality is better in a F355.

It seems that both 348 and 355's prices have stabilized, extremely nice 328's on the other hand have started to move up.

 

It's all about carefully studying depreciation curves.......

Chris' comments are spot on but still ....to see an untracked 348 Challenge car or a 348GT...they had the mojo, man, it was just at a low point in the company!

Transition from full tube frame to unibody got a bad rap at the time, as well.....

Luca shouldn't have said that, but it was a comparative statement!


Now the curves are crossing, as the 3X8s and Boxers 'come back'......all the newer cars are following standard value curves.....the comment about handling is a good one though, have it set up PROFESSIONALLY and learn how to drive it, so you are still with us at the end of the day!