Are 3X8 Prices REALLY Going Up? Value vs Price | Page 4 | FerrariChat

Are 3X8 Prices REALLY Going Up? Value vs Price

Discussion in '308/328' started by Dr Tommy Cosgrove, Aug 14, 2007.

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  1. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    May 4, 2001
    35,287
    Birmingham, AL
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    Tommy
    I think if he is going to hold out for a quarter mil for that 87 TR, it will be him that is eaten by the dogs.

    Are you trying to tell us that what you spend on a restoration is what you will, at least, get when you sell it?
     
  2. velocedog

    velocedog Karting

    Jun 6, 2007
    119
    Michigan
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    Jack

    I have this sneaking suspicion that Al Gore is quietly buying up 3x8's and when he has enough of them, he will suddendly announce that burning dead dinosaurs is really not harming the environment after all and he will own the market on these cars. That, my friends, is when the prices will really skyrocket!
     
  3. velocityengineer

    velocityengineer Formula Junior

    Nov 8, 2003
    492
    Globally
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    Eric Dahl
    Good point.

    Do you think the environmental champion that is Al Gore rides a bicycle or drives a golf cart everywhere he goes? Or do you think he has been in the back of a V8 Town car even now?

    that man will latch onto anything he can to promote himself.

    Anyway...back to 308s.

    Eric
     
  4. dstacy

    dstacy F1 World Champ
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    Jan 23, 2006
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    Dave
    Boy its been a long time since I've seen 30 something
     
  5. surfermark

    surfermark Formula Junior

    May 19, 2004
    318
    Mill Valley, CA
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    Mark
    Although I find I often agree with Bullfighter's posts I would have to disagree here. There are some really premium 89 garage queens out there for sure. Some folks like the idea of buying a garage queen as they wish to have a "like new" Ferrari with ultra low miles and then actually drive the thing. I find myself in that camp. I desire a like new 89 328 for sure as it is my dream car.....so money well spent on dreams to me. Will you take a hit as soon as you drive an ultra low mile Ferrari...sure no doubt.....but at least you can feel good about the "like new" Ferrari you drive. I have no issues with the depreciation factor on a low mile 89 328. I could think of other ways to loose $10K-$15K that would not feel as good as driving a 328! If you have the cash and want to spend it that way go for it I say. I am in the midst of purchasing a low mile 328...and I will have no issue in getting in and driving it! Will I feel guilty as I watch the odometer tick the miles...no way.

    Now to your other point, yes it is useless to purchase a ultra low mile 328 as an investment.....in that case I would say invest in some good stock or other ways that will earn you a much much higher return than investing in a car that is for sure. I would pass on buying a 328 as an investment.
     
  6. bpu699

    bpu699 F1 World Champ
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    Dec 9, 2003
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    bo
    Well, if the stock and realestate markets keep going as they are, ANY ferrari will look like a brilliant investment, even if it merely holds its value!

    Anyones ferrari lost 10-30% of its value this year? Anyone? Hello!? ;)

    Ferraris CAN be a good investment...if you get lucky...

    914's have doubled in value in about 5 years...

    Early 911's have doubled in value in about 5 years...

    Is buying a car a reliable, repeatable, predictable investment? No.

    The guy who bough that porsche and held it for the first 40 years of its life did not use it as an investment. The guy who owned it the last 5 years could have.

    Buying a 308 right before it starts to rise COULD be a good investment. Your guess as to when that rise in appreciation starts, is as good as the next guys. But we are by definition closer to it as every year passes :).
     
  7. Newman

    Newman F1 World Champ
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    Dec 26, 2001
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    Since disconnecting a ferrari speed sensor is of epidemic proportions I wouldnt doubt that low kms ferraris stay that way then the guilt would be about something else and only the seller knows. I take speedo readings with a bag of salt.
     
  8. ForzaV12

    ForzaV12 Formula 3

    Sep 15, 2006
    1,818
    Laguna Niguel
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    Steve
    No offense, but you really don't have any idea what you are talking about. Your statements about musclecars are laughably inaccurate. For the last time 73 Novas are not considered musclecars by anyone but you. You really don't think a barn find Hemi Cuda vert would fetch 200k? Whatever.
    As to 308 knowledge, I've been involved in the sale and purchase of a few just this last year. Including one that had been completely restored with all docs and a photo record of the work. It was expensive to restore and the sale price didn't come close to covering the restoration. I also picked up a very nice, original GTB that in no way needs a restoration and drives very well. It is still only worth 30-35k.
    So your friend thinks his TR is still worth 236K? Great. As long as he keeps it and doesn't ever try to sell it, he can think its worth whatever he wants.

    YOU are the one that said to restore a 308 for top money, not anyone else. Your "arguement"(I'm being charitable now) has jumped from point to unrelated point so much as to be nearly indecipherable. 100,000 mile 308s, throwaway your 308s or restore them?, 230,000k TRs and hungry dogs?, building a 308 from scratch in your Mommy's garage? 250 GTOs and Zo6s vs. 355s?
    What are you talking about Man, and how does any of it relate to your first post that stated 308s would be worth the same money as an expensive musclecar if only they were restored?
     
  9. Newman

    Newman F1 World Champ
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    Dec 26, 2001
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    For the record the definition of a musclecar depends on HP per lb. A 383 challenger isnt even a musclecar by definition. 440 and up if you want to be anal. So no 350 nova is regardless of year. On the 308 topic, what did the restored one sell for, I noticed the price was omitted, perhaps just a "north of" price would be fine. Most 308's I see are tired to my eye but thats because im particular, they ALL need something and are all far from perfect and if you want a perfect one, you will pay to get one that is or pay to make one that way. That is a fact. No car can be 30 years old, have 50K on it and not need serious attention unless money has be poured into it annually with extensive attention to detail, perfect weather driving and perfect climate. Even then it will deteriorate in areas that require disassembly of the car to make right again. So it would be an ongoing restoration as you drive, the outlay of money would be large and the car would be great. Only a handful of 308's are like that. The cleanest one Ive seen on the road is Bigreds and even then it aint perfect (sorry ric), he even drives it in the pouring rain, lol. My 308 will be sterile when im done, Ill debug it then sell it. What will I get? Good money, not sure what though but im looking forward to testing the market and im in no hurry to sell it so I wont give it away. Someone out there, perhaps on the other side of the planet will understand what I went though and appreciate the money and effort required to make a 308 this nice and pay to get it. Ill be posting it here when its done so we can all sit back and watch what happens.

    P.
     
  10. MS250

    MS250 Two Time F1 World Champ
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    Dec 10, 2003
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    Dr. Tommy, you and Forza V12...seem to think that EVERYONE that has a 308 or a TR (like i mentioned) needs to sell....guess what....not everyone that has a ferrari needs to sell. When someone restores a car regardless of what it is, most likely will keep it for themselves and will not seel, but if they did, thats what the price would be of a resto. There have been many a cars that people have restored and lost a boat load of money. There have also been cars that people have restored where they have made money. If we are tlaking the 308 line up i think its safe to assume the early car, glass and steal carb will be the most desirable, and fetch that type of money. Would you do a full out resto on a 308gtsi....you could, but doubt there would be a market for it.

    This thread is are 308s going up in value, i think they are, some more than others. Forza V12 can say anything he wants about muscle cars, and what he sold or saw....without proof really mean nothing. I have yet to see any proof of what he sold, and too whom...and even if he did, he is in the business.GOOD for him.

    As for the guy with the tr....market value is only assessed when you have seller willing to sell , and a buyer willing to buy. Until then, does not matter what market will predict if you cant get these 2 together. I'll use myself and the acquaintence of the TR...i will not seel my "glass" for less than 125....i could care less if you tell me there is one for sale for 50-60 or if thats the market...go buy another one....you want mine, thats what it is, a 2 owner original paint, and interior glass documented car with 9,700 miles on it...if no -one wants to pay my price......POOR me ...i guess im stuck with such a car...hahahahaha...dont you feel sorry for me.

    I think some of you are confusing this with people that NEED to sell as opposed to people that dont need to sell. Right now, i think 308s are making the climb (abit), because they are getting to the right hands (enthusiasts)...hence the vlaue will creep up. Its happened too Hemis, Copos and all the like. Again, these are different buyers than a guy wanting to buy a 200k bentley (unless a collector of some sort).
    As for Forza V12, seems that you have your own perception, and thats great....and i have mine, whether you agree with it or not thats also fine. Just dont think your answer is the gospel....last time i checked around, i didnt see anyone making you the residence expert on the going rate for retored or unrestore 308...even if you sold a few them for 35K :D.

    PS.....as for muscle cars, i could careless , so anything with a 305 and made in 60s 1970 and goes in a straightline and cant turn is a muscle car to me and so does 99% of the population...no different than the average joe thinking all TR are Miami Vice, and all 308s are Magnum PI...they have no clue what a glass car is, or a 512M, just like they have no idea what a Chevy 2 door impala 283 is. you seem to forget that the major public are not as educated in this filed.

    Happy motoring folks !
     
  11. ferrariguyma

    ferrariguyma Formula Junior

    Nov 5, 2003
    523
    Boston, MA
    I think therefore it "is".

    I think the value of my GT4 is $100,000. so it is.

    WOW I was smart to buy when I did.

    Hey does this work for Miata's too?

    I have a 93 with a low 106,000 miles (all documented with original paint)

    I think $50,000. IT IS! This is GREAT!

    *** OH YA I ALMOST FORGOT THE KEY PREMISE TO VALUING CARS- "NEITHER OF MY CARS ARE FOR SALE OR WILL THEY EVER BE!" Ok now I have sealed the values.
     
  12. Newman

    Newman F1 World Champ
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    wow that was helpful, thanks.
     
  13. BigTex

    BigTex Seven Time F1 World Champ
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    Dec 6, 2002
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    Bubba
    Low miles unrestored cars are out there.

    #22127 had 29K showing when purchased, 39K now....
    *tapping speedometer*

    #22641 had 29K on it when I picked up in Portland with docs to match......34K now
    Speedo works fine

    #20405 has 17K on it, and it has ALREADY been restored/color change, due to an accident of some sort, and a fire maybe....

    So not ALL of these babies have been used up!

    And like Dr. Tommy I don't care what they are worth as I'm not selling! LOL!
    I was tempted by a chatter's inquiry last year but only if a friend needed one would I let them have it...
     
  14. ferrariguyma

    ferrariguyma Formula Junior

    Nov 5, 2003
    523
    Boston, MA
    You're welcome!
     
  15. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    Tommy
    What in the world are you talking about now? I never said that, nor do I believe it to be the case at all in any way, shape, form, or fashion.
     
  16. Newman

    Newman F1 World Champ
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    Dec 26, 2001
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    Sell your gaggle of 308s and buy the carbed boxer I looked at last night. Red on black, fresh service not boxer trim, all tools, books etc, 32K showing $120K cdn takes it.
     
  17. mk e

    mk e F1 World Champ

    Oct 31, 2003
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    That is an interesting post and I have to say I've never really though about it that way. I guess tracking down a "brand new" old car of the year and make you want and paying extra for it because it's "brand new" isn't any different than going down to the dealer and buying a brand new car, truck, anything. Yes it cheaper to buy it used and let someone else pay the depreciation, but to as lot of people having something that is new is worth the money. I just never really though about a brand new old car :)
     
  18. Bullfighter

    Bullfighter Two Time F1 World Champ
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    Jan 26, 2005
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    True, from a depreciation standpoint you're no worse off than you would have been paying $75K for a new one when they were new.

    Of course a 20-year old car with 2000 miles on it is not new.

    As long as people don't view these cars as some kind of get-rich-quick scheme, I think it's all good. I'll come out behind on mine just because I spend a lot on it. But, I enjoy owning/driving/staring at it, and don't want/need to sell, so I don't obsess over market prices.

    Frankly, though, the 328 outperformed all of my equity holdings for the month of August... :(
     
  19. mk e

    mk e F1 World Champ

    Oct 31, 2003
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    Well that will teach to have equity holding instead of just dumping all your money into hotrodding the ferrari like I do :)
     
  20. mike

    mike Formula Junior

    Nov 2, 2003
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    WHAT?...is this a yearly tax bill?..where do you live?...
    This is outrageous.. I heard of sales tax upon purchase....wow!!
     
  21. shahedc

    shahedc Formula 3

    Jun 4, 2007
    1,625
    Washington DC
    that's probably property tax for owning a car in his state.. in Virginia, we have to pay car taxes for every car we own, to the local county. The tax is calculated based on the depreciated value of the car.

    I wonder if that means that you get off easy for Ferrari's in VA, if they calculate the depreciated value from the original price, instead of calculating the actual market value.. !

    ~shahedc
    .
     
  22. Irishman

    Irishman F1 Rookie

    Oct 13, 2005
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    The figure quoted is tax value -- their valuation of what the car is worth, not the tax itself.
     
  23. MS250

    MS250 Two Time F1 World Champ
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    ahem, what brand new 328 was $75k when it came out ?

    In toronto, the 328 in 1986 was $111,100 dollars, at 13% exchange back then it was 97K US.

    Where did you get that 75K figure from?
     
  24. GrigioGuy

    GrigioGuy Splenda Daddy
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  25. MS250

    MS250 Two Time F1 World Champ
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    You Americans get all the deals, we just keep getting raped over here with these prices.


    Whats a new 430 going for ? Its $289,900 this year...for a plain jane coupe no upgrades.
     

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