Are 3X8 Prices REALLY Going Up? Value vs Price

wasnt it like 14k???

 

exactly, but how much fun is driving your savings account on a beautiful summer day?

 

Tommy
I agree 100% except that we all have seen prices for american muscle go through the ceiling for no "real" reason. Who would have predicted the last 5 years value increase for anything american between the years 68-72?

Tim

 

I saw a 246 sell recently at motorcargallery. The asking price was something around 190 IIRC.

 

One thing I cannot understand is why early 1970-74 911's have doubled or more in the last two years and some people are asking and getting 40k for excellent basic 911Ts. Now late 70s 911's are also heading up. These cars are much more common than 308's and in my mind no where near as fun to own. (I own both). Can it be the perception of maintenance or is it just that 308's are not fashionable.

 

Oh God Tommy, I never thought you were bashing. Like you, I love the 308, so much I bought one knowing it was a bad investment. Probably like you too, I buy toys and invest cash. Two different things. The problem in the collecting community with the 308 is the lack of percieved value. As owners we allow that to happen. We are our own worst enemy.

Tim

 

"I hear you but really the prices for those cars are for the "good ones" not every 69 Camero is a $150,000+ auction sell. The RS/SS convertable whatever model is hot but the plain hubcap base model really isn't.

I just don't see it with my 308. "

Actually, pretty much any 60's muscle or pony car is selling for quite a bit more than it did when it was new. And way more than what they were worth 20 years ago. The 70's American cars continue to languish and maybe always will due to the severe drop in performance they suffered. I think this perception in the US of 70's cars as weaklings may also be affecting the 3x8 because it is so widely recognized by the public at large as "The" 70's Ferrari and they really know little else about it.
That said, I think these cars will escalate in value in the not too distant future (10 years??),
simply because they are so far superior to the 70's domestic cars and rather more rare as well.
You'll never get rich on one, but you're not likely to get hurt too bad either. My $.02

 

72 Daytona was 14k US dollars

73 Dino 9K US dollars

 

WIll you kiss mine if I get $125K for mine in a year or less? lol. Fingers crossed

 

JT I think it's the curb factor of "all 911s look the same"..........and the reputation the Ferraris have earned from being tinkered with by folks that had no idea what they were doing, it's sidelined many a car!

Also consider the overall flight to old cars by many entusiasts tired of Smog Compliance.......

Multiple factors working, as always......thanks for the comment guys!!!!

There's a decided upward trend in older 308s and GT4s ........it's getting hard to find any sub 20K unless beaten, once that was pretty common on ratty examples of both models ......

 

Anyone ever hear of 'clydes" market report?... I read it online about 2 yrs ago, can't seem to find it now.
He pretty much trashed every exotic as having depressed prices and NEVER going up in value. He called Porsche's more abundant than cockroaches, and trashed the FML & Cav.

 

I love the way everyone compares these Muscle cars at 150K that have been fully restored....much better than factory and wish to compare it to a 79-82 or whatever orginal 40,000M with used rugs, tires and paint.

Lets face it, a fully restored 308 will also fetch 150K...the comparisons some make is not there. A dead (sorry tired)308 fetches 30 grand...just like a tired (dead) muscle car. Compare apples with apples.

I highly doubt someone restoring a (for example) a fibre glass 308 (which i know of) going for less than 250K. Why, cause the owner wants a rare Euro new 308 glass, as opposed to a 300K 430 that everyone and there sister will soon have once ferrari gets done with it. And not everyone wants to go in a straight line in 4 seconds in a 500Hp 5,000lbs tank. At these price levels they are different buyers and a different pecking order than the guy that wants just a sports car to go clubbing in.

PS...Newman your too low at $125 for a fully restored 308 79 carb car....someone should be smart and buy that off of you right now, if your letting it go for that.

 

This is the exact reason that 308's and testarossa's will go up next. If am early 911 goes up, so will a 308/etc.

Keep in mind that the pool of buyers for these cars is very different. You can get a early 911 in the teens/low twenties. A late 70's 911 for even less. Many an average Joe can buy these (I have owned my fair share of 911's too).

The 308's start in the 30's, and go higher. There is a world of difference for a buyer with 10-15,000$ in disposable f*ck me money, and someone with 35-50,000$.

The folks who will be buying the ferraris are late bloomers financially speaking. These are the doctors,lawyers, business people etc. They are still paying off student loans and that first house. Give it 5-10 years for them to hit their peak earning years .



I just don't see any possible way, that 308's/testarossas can avoid a surge in values...



Oh, and ferrari's ARE AN INVESTMENT. You just need to stop comparing them to stocks/bonds/realestate. You are comparing apples to cantalopes . Compare your ferrari to:

1) Golf
2) Trips
3) Micellaneous entertainment
4) etc.

Compared to these things, your ferrari is a stellar investment!!! Many folks lose ZERO in depreciation. Whats a fancy meal worth after you have digested it? Try reselling that...

And, not everyone gets "lucky" when they buy a car. Some folks buy at just the right time, and do make money on resale. Happens all of the time. Buying a used ferrari after its depreciation curve flattens MAY turn out to be an investemnt. Buying a NEW ferrari, riding it down the depreciation curve for 30 years, and the riding it up, seems less so .

Which of these was the better investment:

1) Buying 308 2 years ago...vs buying California real estate?
2) Buying a 308 in 1999...vs buying tech stocks?
3) Buying gold 15 years ago...vs any ferrari...

Are 70's and 80's ferrari's a great long term hold financially? Nope. But their time has come...

 

I think BigRed has nailed it here. There are currently only a few buyers who will spend big money on a perfectly restores 308, but that will in all likliehood change. It will also come to pass that most of these cars WILL need to be restored as they age, and prices will ultimately have to reflect that.

 

Because they were too cheap for too long. I purchased a 73 911t RS race car replica in 97 for 6,000 dollars sold it 3 years later for 13k. Now its worth 35k... JJ

 

Thanks Dude (you must be new around here ROLAMO), you may want to run for cover around here......no body ever agrees with me

 

This is not a small point. The perception of maintenance is huge.

I was sitting a light in the 328 this weekend and a nice, clean-cut young Asian guy in a white Acura sedan is to my right in the curb lane. He leans out and after the "Nice car" and "How much?" comments asks: "What's the maintenance like?"

Public perception is you have to be a millionaire to maintain a 308/328.

With regard to early 911s, my own theory is that the open 356s have soared in price (think Dino 246), so the next bargain hunt would be with what came next. Additionally, the pre-1974 911s were the prettiest of the lot. I don't know anyone who doesn't like them.

 

I bought my 328 with the expectation that by the time I am done with it it will be worth -0-. Anything more than -0- at sales time will be icing on the cake. Or it might be cheaper to bury me in the car than in a coffin. That would be fine, too.