308 price question

for a 79 carb at 40k I think thats high now if you asked about a qv @ 40k I would belive that,but thats me!! I would spend no more than the low 30k and I mean low!!!!!!

 

I find this market quite varied and unpredictable. I don't know of any sites that publish actual sales data but looking on ebay's completed listings section, the higher priced examples are listed over and over with few actual sales. I'm sure ebay's not the best yardstick but I believe the numbers don't lie.

Also, for everyone that suggests ebay is a terrible place to look, I find it curious that most here monitor that terrible place as vigilantly as I do. I think most understand that if they really want to "move" a car, versus holding out for top dollar, ebay works. Some use it just for exposure but the fact remains that the cars actually selling, are doing so at prices substantially below "value" projections I see quoted in many places.

I can only speak as an average schlep with finite means. I've been looking for while, and while I think 40K for a '79 is in the range of reason, I would suggest for average buyers (like me), it would have to be a very, very special car to warrant that price right now. I think 40k opens up some options like QV, 328 and even 348 (if you are so inclined). I believe patience is key to both buyers and sellers. A seller that can hold out will likely get more for any car than one that can't. Likewise, a buyer that's patient, will likely find a better deal than if they jump and accept whatever the market holds at that time. At least that's my plan.... although it has't seemed to work for me just yet.

 

I have a very nice 1985 308 GTS qv with only 22k miles that had a very thorough (expensive) major service from an authorized Ferrari dealer two years ago, that I would sell in the low 40's. I have attached a picture.
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I have been following prices on ebay for some time now and I know that you can get a good QV or even a 328 in the low 40's. So based on what you've said, I'd say pass on the carb car and hold out for what you really want at a reasonable price.

 

Absolutely! I've been in the market for the past almost three years. I've seen very good 2-valve 308s sell for anywhere from $20k-$35k whose difference in condition was indiscernable or very minimal.

The only way I would pay $40k for a 2-valve steel 308 is if it were top-notch; no flaws in the body, no previous rust repair, no paint blemishes to speak of, same with interior, and if nearly every mechanical system in the car had been refurbished in recent years. In other words, it better look as good as the price is high, and I want to be pretty sure I won't be spending much more on it after the purchase! A $40k car can be worth it, but that's a bit of a gamble, and there are too many excellent 308s out there for $10k or more less.

 

Morrie, I sent you a pm.

 

Please do yourself a favor....dont make your decison based on a few guys that think what the price of a car should be.

I think F40s should 350K not 550........but the reality is, i aint finding one for 350, unless its burned or in pieces

Go look at a few cars (5 of them) compare and take your time.....you are better off buying a better 308 for 45 grand, than buying one for 33K but needs alot of work...you will be spending more time to try and bring it to that level , and will cost you more.

Just recently a Euro 308 carb slod at Barret Jackson for 49K, the car had even won a concourso and had history, and service to boot....you could never buy a 35K 308 and make it look like this for 50.....just search and look carefully....there is no doubt you can find a deal...but dont buy based on just PRICE....this American WalMart Attitude on Ferrari's is getting old...the two dont mix.

Peoplethat have great cars will not let them go at the prices the others mentioned...take that from an old goat thats been around these cars for awhile

 

This car just sold for $45k at BJ in palm beach today and bj prices are generally on the high side. I think the market will come down from here so if I was in the market I'd probably hold off a bit, but that's just my guess.

Vehicle Details

LotNumber 629.1
Year 1982
CarMake FERRARI
CarModel 308 GTSi
CarStyle 2 DOOR
ExteriorColor RED
Interiorcolor BLACK
Cylinders 8
Engine 179
Transmission 5-SPEED MANUAL
Summary Classic Pininfarina styling and a fresh cosmetic restoration. Only 1,900 miles annually since new. Service records available. Beautiful Rosso Corsa finish with black leather interior.
Description These Pininfarina-styled models have become the definitive Ferrari shape with design cues carried out to the later 328/348 Series as well as the 288GTO and the F40. Numerous appearances in television and film have made the 308 instantly recognizable. This 308GT SI has the desirable Bosch K-Jetronik Fuel Injection and retains its Marelli Digiplex electronic ignition and the much improved gear box and clutch operation from previous years. Driven only an average of 1,900 miles annually, this 49,567 original low mileage example boasts of a beautiful Rosso Corsa finish and black leather interior that has been recently restored to showroom condition. Correct Michelin tires have been mounted and balanced on the original Ferrari wheels for that perfect original appearance and performance. Included in the sale are numerous records dating back many years.

http://www.barrett-jackson.com/application/search/carlist.aspx?&In_Day=Saturday

 

COngrat Morrie...any pics while you were there ?

When do you get her ?

 

I wouldn't rely on eBay for Ferraris. There are exceptions, but the good ones generally sell privately and the crap gets dumped on eBay - making eBay a sort of red herring for prices.

If you bought a really good car, I wouldn't sweat the price at all. When the right car comes along, you have to buy it -- these aren't generic new BMWs. They're old cars, and we're buying what has survived. $38K for a '79 with >20K miles is probably about right.

I haven't seen any 'meticulously cared for' 328s below $50K (even going back 3 years, $50K was kind of where the nice 328s started). I'm fairly picky when it comes to cars, so if I were looking at 328s now I would probably budget $60K+ for a great early one and hope to get it in the high $50K's.

 

Morrie, congratulations on your car.

I agree, it appears you have a bought a great car at a very fair price. If you can find a car like that, justifying prices into the 40's is no problem. I bought the "lower priced" car knowing full well I was going to totally restore it (which I enjoy immensely), and I track all my costs very closely on a spreadsheet. You simply can't restore a car in a quality manner and stay below $40k (or at least I certainly haven't). You will likely find some "things", but so what, probably nothing major and you will likely creep into the low 40s. You took the direct path, I am taking the scenic route. But in the end, Ferrari 308's of quality are easily $40k cars, and in my view, a bargain!

 

Congrats Morrie.

Sounds like a great car.

Please post some pics

 

The latest Cavallino magazine shows the 308 priced as follows according to Kieth Bluemel.

glass GTB 40,000/55,000
76-80 steel GTB 35,000/40,000
77-80 steel GTS 25,000/40,000
80-82 GTBi 30,000/60,000
80-82 GTSi 25,000/60/000
82-85 GTB/QV 30,000/50,000
82-85 GTS/QV 30,000/65,000

However, they show no difference from early carb US cars and later carbed US cars, euro models, etc.. I really thought the early cars would take off by now, but with the bummer economy I think everything has been bumped down a bit or is holding steady.

 

Congrats on your '79 308!

As far as rust prevention goes, it's not a good idea to drive it in the rain. If you get caught, that's one thing, but I'd really try and stay out of it.

Jim

 

+1 Be careful washing it too. Most 308s are garaged so I think most of the rust you see in the doors etc. are more from washing than from weather. The weather stripping on these cars is worthless. Instead of cleaning the car every once in a while I would spot clean it after every use. Avoid spraying the hose all over the car especially on the door windows. Make fun of me all you want.....but this is what I do.

 

I concur.

Also, I don't know if the '79s have those drain holes in the bottom of the door, but you might want to peek under there and make sure they're open and unobstructed.

Also also, once you have the car, try not to drown it in water when you're washing it. I use a hose for the wheels and lower valances on my 328 (fibreglass), but generally stick to a quick detailer (Griot's Speed Shine, Meguiar's Quick Detail, etc.) for the metal bodywork. I do this after every drive. In other words, instead of letting your car accumulate dirt, do a light detail with lots of clean cotton cloths on a regular basis. This keeps the car nice and dry, and is probably also kinder to the old electronics in the engine bay as well. The only time my 328 gets wet is during its occasional detailing -- claying and waxing.

 

I would make fun of you, except I do it too.

 

I have a '78 308.

Do you think it would be a good idea to intentionally drill holes in the bottoms of the doors to allow water to run out?

Why not??