Euro Model 328 GTB

Hey Ferrari fans!

My dad purchased a Euro model '88 Ferrari 328 GTB in 2003, while he was in Italy. The car had its servicing and repairs prior to being boxed up in a container for its voyage to Canada.
My dad sadly passed away unexpectedly, and now I want to sell the car for my mother. I love the car, and have been a Ferrari fan since I was born -- but I cannot bring myself to keep the car.

It has 42,000 kms (~21,000 miles). It had its tachometer changed while in Italy, but still remains sluggish unless it is idling.


I'm seeing North American version cars with similar milage going for $65,000 -- but see that people saying that they cost no more than $30-45K. I'm a bit confused by these two conflicting values.
What does a car like this honestly cost?

Any help would be appreciated. Would anyone here be interested?



*EDIT*
Looking at the forum stickies - http://www.motortrend.com/classic/features/c12_0606_buyers_guide_1975_1989_ferrari_308_302_gtb_gts/ferrari_facts.html

I am under the impression that this car was the first of the 328 GTBs that were equipt with ABS.
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I'm sorry to hear about Father.

That car has unique history, 76626 was the first 328 GTB with ABS standard.. so there is a special bit of Ferrari history in that car.

As for prices in that part of the world.. I don't know, but I think you should keep it.

Do you have any more photos you can share?

 

Thank you for your concern. It has been a difficult time for the family.

What can I say about where I live... there's only a handful of people that actually own any sort of exotics. Everyone else just gawks or makes rude comments about being a drug dealer to own a car like that.
In his lifetime my dad owned a '77 Porsche 911 Targa, '75 Ferrari Dino 308 GT4, and an '87 Porsche 911 Turbo. He had quite the taste for nice cars.

I've given it thought about keeping the 328 GTB, but I'll be frank... funerals are expensive. I had a serious talk with my mother and my brother about this.
My brother and I both love the car, and would really love to keep it - but with my father's passing my mother doesn't deserve to be punished by having to work twice as hard before her retirement.

Despite the car being willed to my brother and I, we want to sell it and give mom the money from the car.

I'd rather see my mother relax and not have to worry financially - than to own a Ferrari.


I'll own one eventually. I'm thinking of a 512 TR myself.
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What part of Canada are you in?

 

You might get it appraised by a Ferrari specialist in your area. $30K is way low if the engine makes good compression. Really nice 328s start around $50K, and 21,000 miles is low mileage. If I had to estimate, ~$60K, assuming it's as nice in person as it looks.

I don't know that being the first one with ABS is going to affect the value much, but it's interesting to note.

 

There definitely is a premium for an ABS car, over the regular-brakes car. I don't know why exactly, but I've noticed the large gap between the two (regardless whether it's ads for cars in North America, or Europe).

In any case, it's harder to sell a Euro-spec car in North America. Where in Canada are you located? Here in Vancouver, B.C., that car could pose a problem when registering as the car needs to go through "aircare" pollution testing and if it doesn't have some sort-of pollution control system on it (cats at least) it won't pass and it can't be registered. The car would also need to pass a general vehicle inspection, again, before it could be registered and as I can see from your photos, it does not have side marker lights (front & rear) and it does not have the high-mounted, third centre brake light (required for cars built after Dec. 1987). These items are a legal requirement (brought about because of all of these ex-Japanese RHD cars coming into Canada) and they would have to be fitted. I had at one time considered buying the 208 version of this car and priced out these parts and all the lights would be around $600.

 

I'm very sorry for your loss - this is a very unfortunate way to inherit a Ferrari. I hope you get one of your own very soon; my condolences go out to you and your family.


On the flip side, it is really cool to see this car on the map. I imagine this car's significant place in the 328 bloodline yields some value. I suggest advertising the car in the Ferrari Market Letter. Many collectors subscribe to the FML and if you advertise this car as being the first GTB with ABS, its worth won't be ignored and you won't be low-balled. I don't suppose you can tell us the date of production on this car... if you could, that would be awesome.

 

To answer the question about where I live; I live in Northern Ontario. Right on the boarder with Michigan, at the end of the I-75. Sault Ste. Marie.

At the time, cars imported into Ontario were required to be 15 years of age for entry into Canada. In Ontario, no modifications were required for it to be registered.
It had to be inspected by the ministry of agriculture for foreign soil contamination - at Pearson - then it cleared customs. Brokered through ABX Logistics - from Mississauga.
We brought it over in late June 2003.

It has been registered and titled legally in Ontario since 2003. It has front fender/marker lights at the rear of the fenders by the doors.
The sluggish tach, and the passenger side door would not lock/unlock the door with the key - the only two things that my dad ever said weren't right. Still have the old tach and a bunch of parts in the trunk -- as well as Euro licence plate holders. My dad kept all the old parts that were changed in Italy before he brought it over.

I believe the VIN etching on the glass is part of the security/anti-theft - but its badging with the build number. To be honest this new discovery is kind of neat.


Is their a way to precisely track down its build date?


I'm definately going to persue running an ad through the Ferrari Market Letter -- thank you for that information.





Hey Pete... my dad had a 308 Dino GT4 2+2. I believe the year was '75. I'll rumage around for an old insurance slip if my mom still have them.
I know I have a picture of it around here when it was at the lot. I'll post it up when I find it.

I'm not sure what the proper name of the colour was -- but it was a Goldish colour with maroon Leather.

 

To avoid any problems with the ad, I understand it was the first GTB with ABS as standard, as I posted earlier, prior to that it was an option.

Which I guess asks the question, what is recorded as the first ABS equipped car.

Any chance you can post a pic of the engine id number? (see page 8 of the owners manual for location).

If you end up selling the car.. take it out for a good 'farewell/one last drive' eh!

 

Please add my condolences on your loss.

I believe it would also be a good idea to join Ferrarichat as a silver subscriber. I am sure your father's car will generate interest here and there's a sizable portion of folks who have an infinite array of knowledge on anything Ferrari willing to discuss questions you may have. It's truly a wise investment for $15.00. You would then be allowed to post the GTB in FerrariAds and you'd have access to receive and send private messages regarding the vehicle. I may be interested in your car. If it has already been registered in Ontario, I tend to believe 95% of the problems getting the car registered in the Maritimes would be out of the way (barring the usual formalities).

 

You are wrong, it is likely the first car with updated suspension, highly unlikely it has ABS. ABS wasn't standard until 78XXX. Beforethat, it was optional on Euro cars. No US cars had it until 89 MY. Interesting side note: there are at least 2 cars in the US after 76626 with older style suspensions. Nothing is written in stone when it comes to Ferraris.

Dave

 

Put that down to the Bluemel book then.

Isn't that the ABS light on the dash?

Strino, can you tell us if the car has ABS?

So for the record, what are numbers for those later GTBs?

 

I assume you're refering to the yellow light on the dash, or the light on the lower left?
I had bought my dad a Ferrari Owner/Service repair manual on CD -- I'll take a look at that, and locate the engine VIN.

I don't know if he had the printed owner's manual. Funny.. has an immaculate condition leather tool bag, but the printed owner's manual is nowhere to be seen.

 

ABS equipped cars have an amber warning light marked "ANTI LOCK" in the instrument cluster. On US cars, it is second from the left between the fan and seat belt lights. Other markets could differ. Interesting side note I just discovered: ABS eqipped cars utilize the ABS hydraulics for the clutch. All others use a cable. US GTB#76632 has old style suspension. I don't have the GTS number handy but it was used years ago in Forza magazine's 328 price guide.

Dave

 

There is in fact an amber light between the Left Fan and Seatbelt indicators -- it isn't marked with anything -- it is just amber.
I'm going to take some pictures this weekend. I need to go buy a battery -- as the Fiat/Lancia battery my dad had bought in Italy is dead.

I'm thinking Interstate or AC Delco.


I'm going to let her warm up nicely before I shut it down -- too much snow on the ground to even consider moving it beyond the garage's concrete slab.

And then... I'm going to go jump some ditches with the snowmobile.



Now if Ferrari/Ducati ever got together to make a snowmobile... I think I'd re-live puberty and have a wet dream.

 

They don't appear on Euro cars; but when Euro cars are imported to the US and/or converted, a sticker is usually affixed to the car, detailing information - some of which is the date of production. My guess is that it would be in the door jamb, right near the data plate that contains the VIN.

 

Thanks - will take a look this weekend.
I'll post up my findings as soon as I can.

 

Jon, 99% of the time i agree with you, this time though my friend you need new eye glasses....im not trying to offend, but that red rug and seat and door skin on the driver side is not going ot get 60K....nor does the 43K or 30,000 miles on the clock show...that interior shows like 100....even the driver side door skin. Maybe the car does have actual 43k, but the worn is more excessive. 30k maybe a tad low, bit 50-60 is lala land.

Im sorry to hear to about your dad Strino, hope you find a buyer...30s is low, but low 40s maybe the number...but then again, the pics are not a fair estimate....im giving a ballpark...the car would need to be checked out in person, and then you need to find the right buyer....do you have all the books, tool kit, service warrenty card ? radio warrenty ? do you have history from 88 ? how many owners can be traced, and when ws the last time it was serviced completed with bills ? these are all important, and will help push the price up.

Again, my condoloences to you and your loved ones....and im not trying to be critical of the car, just my 2.cents on what i have seen in 328s.

 

I'll get around to posting up some photographs and more detailed information when the time permits. I work evenings, so my free time is on my days off.

To be fair with the interior - the pictures don't do it justice from the driver's side perspective. It is quite obvious that the sun is shining more on that side than it is on the passenger side - giving everything a worn out effect. For a 1988, there is still an intoxicating smell of leather that comes from the interior.

I don't care who the buyer is really. Cash speaks louder than words.
I mean really.. if you want to strip it down to make it a track racer -- why would I care?

I've had requests for more information from a local individual, as well as an individual here on FC.


I highly doubt that the radio that is installed is factory -- it is a Sony, with directional tweeters on the dash.
When my dad bought it, it was equipt with a Cobra 777 Alarm and Ignition Imobilization system -- neither of which are stock.

 

Man, the pics of that car are BEAUTIFUL, black with red carpets is a nice combo.

Just an FYI, while the car is a 328, its still rather "old" from just normal car standards. On the 308s, we have to worry about fuel lines breaking due to age. 328's are a bit better from the reliablity standpoint, but I'd be careful running it too much as you dont want a fuel line to crack with age and start a fire.

Woah.... there are those who would argue about that, especially considering its such a nice example .

Many times, the track cars are those that have been wrecked, rusted, or are generally in such disrepair that restoring them would be cost prohibitive. Cars like the one you have are ones that people love to restore/drive, regardless if its a euro or not.

Then again, you are quite right, money talks, so I guess who has the money can do what they want with it .

James in Denver

 

Check out this site for an explanation of your VIN number:
http://www.nwrfca.org/faq/vin.html


I just bought a 1989 GTS from Switzerland with 40K on it in excellent condition.
Paid around ~60K.
Hope it helps.

 

hey, i may be interested, depending on whether there's a certified ferrari mechanic who could do a pre-purchase inspection near you... and i could verify that the car can be registered and smog in CA. email me at [email protected] if you are willing to discuss further...

 

I am real sorry to hear about your loss.


My recommendation is to call John S at Gentry Lane in TO.

I think you will find him very fair and helpfull

 

Ladies and Gentlemen,

Its been a while since I've been here. Taking care of family matters and a new job have kept me rather busy.
I've entertained a few people's requests to send pictures and fielded all sorts of questions, though we never agree on a price.
Lots of people seem to think I am in need of quick cash and offer $25,000.... $30,000.... That's not going to happen.

I'm perfectly content letting it rot in the garage. As, it was my dad's car -- I really express no interest in driving his car.
I love it, but its not mine.

Here are some more pictures -- taken recently.

New parts not shown, in trunk:
New Tachometer.
Air Filter x2
Bosch Fuel Filter
Spark Plugs
Exhaust Gaskets
Drive Belts/Generator
Various interior pieces (indicator lights).


It is due for its 5 year service.
I have the service papers from what was done in Italy before it came here -- 2003 -- but no other history, unfortunately.
Interested parties can PM me... and we can discuss further.

The car has been posted in AutoTrader for the Toronto/Ottawa area -- and will be running for the next two weeks.


Thank you for your time.
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Since some US folks are watching this thread, anyone care to make statements regarding its legality for US importation? My feeling is, unless this car has been Federalized, and can show EPA/DOT Paperwork, it is a CANADA-ONLY car and cannot legally be registered and titled in the USA.