Value of 348.... Rescue or let go..

If you'd like a project that'll take years before you'll be comfortable taking it out in public, and are willing to invest your time and bank account for the learning experience: go for it.

Cute that the "recent" 2003 service doesn't mention belts. but major service is every 3-5 years regardless of mileage so you're coming up anyways. (did you see invoices from a mechanic or receipts for parts, or just verbal?). If you really need this car, track down the mechanic that did the work and get the history.

It can be that bad - and can easily be worth more to restore the car, after you buy it, than a clean one is to purchase outright.

I understand the 348 spiders have the same clutch assembly as the 355 - at least the same throwout bearing? Every item you mention is $1,000's to have a mechanic fix, I need a drink just trying to do the math! It's trivial to have a mechanic run up a $5k bill on a perfectly running Ferrari. Please don't start on a Frankenstein as your introduction to the breed. These cars are not Porsche's and, 348's in particular, like to have little things go wrong. You don't need to have a whole lot of big things to deal with.

Do you have pictures

PS: An interior that's magnitudes worse than the exterior can indicate a repaint at some point- maybe accident damage? I would of expected the mechanical, interior, and exterior to be in similar shape - maybe the mechanical and the interior do match? Sad to say, but sounds like a parts car.

 

I'll bet that there is even more wrong with it than you know right now. Maybe a flood salvage car? I think the guy who is selling it has the right idea - get away from it before it eats you alive. As a project car for a do-it-yourself hobbyist, it might be worth $10,000 as is. If you would be paying someone else to fix it up for you, less than that.

 

http://cgi.ebay.com/ebaymotors/1994-FERRARI-348-SPIDER_W0QQitemZ190071100576QQihZ009QQcategoryZ6212QQrdZ1QQcmdZViewItem

Is this the same car? Description looks the same, but you can't tell anything from the photos other than the car is a black/black spyder. The current high bidder is at $42K, although the seller's reserve has not yet been met. I'm no expert mind you, but based on a reserve price higher than $42K and how you've described the car, I would advise staying as far away from it as you can...

 

It is not worth anywhere near $42k. I would not pay more than $20k if it checks out mechanically. The interior will run you at least $15k, the top another $5-7k. A major service at $6k, and you are into it for $46-48k plus any other unknown issues. With that high of mileage I would say it is worth at most $52k if everything else was perfect. You are better off buying a great 348ts for under $50k with everything taken care of.
BT

 

Let it go. Unless you want a project car to play with

 

I have a friend that just bought a TS in mint condition, with 17K on the clock.

Paid $51K.

 

Run Away

 

Ebay description: "This is a beautiful car that runs, looks, and drives great."

This should be a simple question to answer, not a matter of opinion: Does the car start or not? Does it just need a jump start, or an overhaul? If we are being asked for an idea of the value of the car, this would make a difference of maybe, oh, $15,000-$20,000, maybe more.

 

Interior parts for 348's are becoming scarce and $$. Ferrari is liquidating its stock and not supporting the 348 line any longer. So, replacing the total interior could blow the budget alone. Of course, some of that stuff is pretty durable and can be restored, but why would u want to take on a project like this when there are numerous 348 Spiders out there for sale at a decent price?

With only 1090 Spiders made, and being a former Spider owner, I am saddened that one has fallen on such hard times.

 

I would be very weary of this seller. He describes the car as "very well maintained" and puts tiny pics on his ad. No service records, yet he can recall (from memory?) all of the details of last service and recent clutch work? What else is he hiding? With a buy it now of $52500, I agree with the others. Run away.

 

I was expecting a turd....but it does not look too terrible, unless the small pics are hiding a lot. From your description I assume that they are. Too bad really. Sad to see a nice Ferrari go down.

 

bidding has ended...looks like it went unsold. Really, you could fix this car for a reasonable amount of money if you could do the work yourself. You could by used interior peices from other smashed 348's, have the seats and dash recovered by a good interior shop, spend the 2k in service parts, and do it all yourself. You could have a nice driver for under 50k. If you wanted to go as far a painting it..prep it yourself, and have a good painter shoot it. Long term project yes...pricey..sure is..but it would keep another 348 on the road.

As long as the car is straight, and the title is clean...It may be a fun car to play with...

 

Ditto!

This one might run you into the poor house, and at the end, you will have almost definitely spent more than an excellent example would cost. If they want to part with it for $25,000, maybe then it is worth a look.

 

Let it go and keep searching. Good things come to those who wait they reckon.

 

Well I have been "waiting" for Elisha Cuthbert to be in my garage next time I open it.........

I am starting to think she has prior engagements
Image Unavailable, Please Login

 

Not before she visits my garage 1st........
Ill try and save you the scraps.

 

Too late pap she she is already on her way to my place....... I will let you know what you are missing...

 

Bastard!!