Interesting Cars For Sale in our Region

Okay, I took on the assignment of visiting the used car sales place in Leesburg that is selling the 348 Spider.
First of all, I am not a 348 expert and not up-to-speed on things to look for on that model car.
Supposedly the car is listed for sale on AutoTrader.com but I couldn't find it on that website.

The car looks pretty good to fair overall.
It is a 1994 Ferrari 348 Spider.
It has 29,452 miles. Yellow with black interior.
VIN is ZFFRG43A1R0098131.
Asking price is $49,995.

Condition of the car is okay. Body panels look good, edges are straight.
Wheels have no curb rash. Car needs to be detailed (dust, road dirt near fenders, etc.).
Front fender could have been repainted (confirmed by dealer).
Criswell dealership sticker above rear bumper is not a plus.
Side bolster to driver's seat has quite a bit of wear.
Area around shifter is sticky - could have had some sort of trim piece attempted to be glued there in the past (maybe carbon fiber or aluminium?)

Dealer is a nice guy. Seems like a straight shooter. Has been in business for 12 years in same location.
Claims to have no negative posts on BBB (better business bureau) which, for a used car dealer, is a major accomplishment.
His name is Arnie Raley. His typical car is a used Honda or Toyota. He says he usually has $6k to $7k in cost on a car that he sells for $10k to $11k.

He got the 348 as part of a 20 car deal with Criswell Chevy dealership in MD (all used cars). So, his cost on the 348 is extra low. He knows they typically sell for $70k to $75k but he is looking to move the car quickly. In a week or so, he is going to auction it off at the regional Manheim dealers auction for high-end sports and luxury cars. So he has priced the 348 similar to what he will get for it at the auction. The main reason he took the car as part of the 20 car auction is he knew it would attract attention for the 2 weeks he is going to keep it in inventory. His hope is that is would bring in the foot traffic for the kind of cars he typically sells. He believes the typical Ferrari buyer is choosey and it will take too long to make a deal happen, which is why he predicts he will likely end up auctioning off the car.

He thinks the car is a good one and that at just under $50k it is a good value. He says everything works on the car. He knows the typical buyer will do a detailed PPI at FOW or some other mechanic and he is okay with that (at the buyer's expense). He's driven the car. He says it starts right up, runs well, handles well, no frame rust or issues, no mechanical issues he can detect, etc.) It passed the MD safety and emission inspection recently so he doesn't see any issues with that in VA or elsewhere.

He has a full CarFax report on the car. He let me look at it and he pointed out the main pieces of data. Car has had 5 or so owners over the years. Sold new in San Antonio, TX then went to Coronado/San Diego, CA, then Scottsdaile, AZ, then back to Texas, then CT, then Criswell in MD. Car had the 25k major service done near 25k miles. Car was first sold by Crisswell at 27k miles. 2k miles later, car was traded back in to Crisswell in MD.

I told him the asking price kind of made me nervous. It seems a full $10k lower than a typical "good price" for a Spider. He chuckled and said he agreed. He said, but from his point of view, the cash he has tied up in this car is equal to 8 to 10 times the wholesale cash he typically has in used Hondas or Toyota cars he sells, so he wants to move out the 348 quickly, one way or the other.

So, the bottom line is the car is okay or even "better than okay" and doesn't look like the typical "fright pig" you see on used car lots. Obviously, get a good PPI if you want to buy this car.

Here are some close up pics I took of the car today:
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Do you think this ad is for the same 348 Spider that was for sale in post #57 of this thread?
http://washingtondc.craigslist.org/nva/car/478040341.html

If it is the same car, it was previously for sale at $49,995. Now the price is $70,000.
I thought the car was under-priced before, so maybe the $70k is reasonable.

BTW, the same phone number is in this craigslist ad.
http://washingtondc.craigslist.org/nva/aos/478080614.html

So maybe a local Leesburg mechanic bought it and is reselling it.

 

1965 Ferrari 330 GT 2+2
Red/black. On eBay.
Being sold by Elite Motorsports in Rockville, MD.
45,077 miles.

http://cgi.ebay.com/ebaymotors/1965-Ferrari-330-GT-2-2_W0QQitemZ170170261912QQihZ007QQcategoryZ6212QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

I have no connection to car, ad, or dealer.
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