Why do Ferrari owners think that their cars are worth so much?

So here's my observation:

I'm in the market for a previously owned 308/328/mondial (if you have any that's reasonably priced in the NYC/LI area, please PM), and I've been browsing thru the various channels, I just have to laugh at some of the outrageously priced cars that people are asking for. Take this fine example (supposedly owned previously by the famed Gloria Estefan):

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&rd=1&item=230185025719&ssPageName=STRK:MEWA:IT&ih=013

I call up and ask for the history and the typical stuff. "Oh I have this option, this other option, and upgrades" said the owner. But it has been repainted not once but twice (in red, in yellow, etc). I then ask what is your asking price. He tells me 50K! I said is this a 328 or a 308 or maybe a 348. He said 308 and I told him good luck and hung up.

Take this other fine example:

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&rd=1&item=120176608707&ssPageName=STRK:MEWA:IT&ih=002

What are people smoking?

 

I think some of the smoke from the San Diego fire got into his lungs

 

Yes but the smoke has not blown to Texas or New York.... or has it....

 

Some of them are always priced high, but don't pass up a good car (these aren't) just because the price is a few grand higher than what you think it's worth. They are hard to find nice, and the 308s and 328s are more in demand than the 348s. Once you do find a good one, you won't be so willing to sell it.

If I were looking right now, I'd budget $50K for a great -'84-'85 QV and $65K for a great 328. If you want a no-remorse/no-fear driver, then knock $10K off those numbers. If you're surfing eBay for $25K 'bargains', you will be looking at junk day after day.

My two lira. Good luck!

 

The prices on all the classic and slightly newer are going up. the longer you wait the more you will pay.

 

Thanks for the info. I never did understand why the 348's are not that popular beside the (I think) handling issues, and the (bite my tongue) fiero look-a-like rear end. Although I still think I don't really know what "a great" 308 looks like (haven't seen one yet) and may not be willing to pay for a $50K for a car that I'll be afraid to drive in NY. How far did most of you drive to find your objects of adoration?

 

Guess it's the law of economics, low supply, big dollars.

 

you get what you pay for....i paid 6 figures this spring for a 76 1 family owned glass 308. Bills to prove the work along with all the pics.
If it sounds to good to be true..............odds are it is...forget ebay, look for a car in the ferrari ads sections, go to local club events, joing the FCA...there are many options. Ebay is not one of them.

Here is what a "great looking" 308 is
What do you think ? (i need to take some new pics )
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You do indeed get what you pay for and your car is proof. Ebay is not all bad. I sold a nice car on Ebay. The buyer got a great value, IMHO. Like any venue, including the upper crust ones, you have to independently inspect the car, research and do your homework. You cannot buy a Ferrari based on pictures and words and have it shipped and expect it to be 50% as nice as your beauty. Buying a used Ferrari is no different from any other used car, except the cost of a mistake is way more $$$.

 

i thought about what you said, your right, EBay is not all bad. You cannot buy these things on pictures and words alone....its all about the research !

 

It's too bad the I live on the Northeast and most of the cars here, in the vintage of the 308, has rust issues. Also I don't particularly like the dark interiors that most here have. I guess I have to move. TX or Cali, here I come.

 

Most owners, including myself, took 6 months or more to find the right car. I was just looking for a very nice, rust free, well documented, original "driver". You'd be amazed how hard it is to find one these days at any price. That's why, when many buyers find one, they are willing to pay a little more just to END the search and start enjoying the car.
Remember, there are NO cheap Ferraris. (pay up front for a good one or pay MORE to fix a cheap one)

 

Took me about 5 months of checking out cars while traveling the country for work to find mine.

I'd see cars that looked great in pics that i was sure they'd look like new in person too only to be dissapointed when i actually saw the car. Finally got one with the best paint job i'd ever seen and an engine and gearbox that had been taken out and separated with all new hoses and belts and bushings etc. From the pics i couldn't tell how good my car looked or how bad some of the others looked. Camera can hide some tired looking interiors too.

If a car is $5k-$7k more than the others but it's in better shape then the typical 20 to 25 year old 308/328 the money is well spent IMO.

 

No kidding. At first it was fun looking but then it felt like a job. I agree with the "pay more later" advice but these cars often take a long time to sell and ones in great shape sometimes need to be moved for a quick sale and i wouldn't rule out the very real possibility of getting a steal. Mombodave's 308 QV is a good example, He spend 9k on the interior and the person who got it from the dealer paid like $27k for it i think.

 

If you are looking for a bargain and crying about the price of the 308qv's, maybe you should look at a Chevy? You buy that bargain, then post in a year, and lets see how much money you really saved? You have no idea what it takes to maintain and restore a car like this. Good luck.

 

Thanks, and it was good talking to you! But seriously, if you are trying to avoid tire-kickers, and you are serious about selling the car, then you can set a reasonable price and contact me again. I thank you for your honesty about the history of the car, but as a Fchat member to another, your mileage, condition, and state of the car is not worth 50K. I don't like how people use ebay to "fish" out the serious bidders and set a limit that, guarantee, you'll never meet. It's a silly game that I refuse to play. We all have time on our hands and patience will get me a Ferrari.

 

Many people do not realize that you can spend 15K on a car and expect NOT to get that back in the resell value. Unless it's a rare bird (which the 308/328/mondials are not), market value will drive the end price.

 

Please don't limit yourself to the N.E. which has always been higher. Most Auction cars start in NYC then go to Manhiem then N. Va then Clanton in S.C. and then it gets muddy.

Anyway I have a nice Red (300/6) Tan black 1985 Mondial QV Cabrio with recent factory 30k service, New clutch ETC and 40 k miles.Nice example that can be enjoyed for a good while with confidence that you won't have to send a fortune immediately.

I can have Brake pad, rotor and tire specs to you and $ 20 k service bills to show recent work.

Not a dealer private car. Top Down and three of your favorite Super model and Bob's your Uncle!

Capt. Robert (Ce-500, 525S, 650, 750, IAI 1125, CL-60)

Even LPS 2ed the window cables for smooth ops!
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The aesthetics of the 348 have always been polarizing. The aesthetics of the 308/328 were phenomenal from day one (even the heavy U.S. bumpers couldn't ruin it). Also, Ferrari started in a new direction with the 348/355 -- unit body, robot-assembled, early engine management computers, plastic interior trim, power seats/steering/suspension/top in the 355 -- and other stuff that doesn't appeal to many of us. (However, there's no denying the 355 will wipe the street with a 308/328 ...)

Big Red's car looks like a great early 308. I live in San Diego and found my 328 ('87 - my favorite year for the 308/328 series) in North Carolina at Sport Auto (after missing it the first time like an idiot ...) It was a very good car when I bought it and since then I've put ~$10K into it to make it a safe driver and Concorso winner. No mechanical failures, although there was a $9 coolant hose that we caught in its death throes.

Make sure you see a great 308 or 328 up close before you buy. Most of them are pretty needy at this point. Again, don't nickel and dime on a great one. Enzo died and Ferrari stopped making cars like these a long time ago. If you're in San Diego, drop me a PM. Also make sure you attend an FOC/FCA event - you can usually count on a 328 or two showing up and these club members tend to have the better cars.
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I just sold my 328 for 70,000 so do the math... FYI I was offered more money than that from a back up offer but ethics kept me focused on the buyer in front of him...

 

It may not be a 'rare bird', but you said you've never seen a nice one, and you don't own one. Despite all the '308s are common' talk we have heard forever, they are what, in another field, we call 'condition rarities'.

If you want a 'decent at 10-feet' 308 with a few rust bubbles, no service files, and an old Radio Shack alarm system, these cars aren't rare. If you want one like Big Red's, these cars are getting extremely difficult to find. I don't think you could eat off the rotors of my car, but I've had two inquiries about buying mine 'in case I ever think about selling'. Unless someone waves a nicer early 328 at me, I'd kick myself forever for letting this one go after the hunt and the time/effort I've put into it.

The time for haggling to the last dollar is rapidly drawing to a close for these cars. If the right car in the right colors comes along, and the price isn't extortionate, and you want a keeper, you need to buy buy buy now.

 

Okay here is my observation and advice:

The key here is not "what are people smoking", but rather why do people have to come on this site with 8 friggin posts and all of a sudden they are experts. Please, put down the crack pipe or better yet the nitros bottle.

I'm looking for a 308/328/mondial is his mission. . . well when you finally make a decision, maybe you will have a real understanding of the differences in the cars and the diverse asking prices for these models. My suggestion is to keep quiet, ask questions, and don't start posting insults about people you don't know or may even meet down the road from this site. FWIW - Basically I never wanted to feel like a jack-wad when I realize the person sitting across the table from me at a local show, gathering or F-Chat event is that guy I insulted. This site has many people who can help you if you just ask questions.

We have all gone through the same experience you are now embarking on and can share a lot of info. So the next time you are at Captree Boat Basin or OBI, don't be bashful. Buy the best car you can because it will cost loads less in the long run. Good Luck.

 

I started looking for my car at this time last year. It took until March to find one that I was SERIOUSLY going to buy, but I knew that I had to see it in person to be 100%. I looked at several that looked great in pics but turned out to be duds in person. I flew from Indiana to California to see the car as the PPI was being done. I'm glad that I did! I got my car home on Apr. 9th.
Take your time. There are no Ferrari bargains. Use the people here to help you out in your search as well as the archives. You'll know which posts to overlook and which ones to take seriously.
Good luck!!

JIM

 

I'm not sure it's that people are smoking crack about their asking prices... That what the nice cars cost now.

 

My personal felling and observation is that 308/328 owners tend to keep their car and add; not replace the 308/328. That means less and less GOOD 308/328's for sale. Like Bullfighter, I have open offers on my car should I want to sell it...I am not going to. If anything, I might buy an additional 308 or 328 in about 4 years