Ferrari prices definitely dropping....

Cheap cars man! CHEAP!

 

Yep. Still way off for nice cars....they are still selling (albeit a bit lower), but you are quoting the lowest of the fire sales for someone who is in over their head, cant afford the maintenance, or the car has issues. IMO.

Cases in point:

My old '79 GT4 just sold for over $30K. '77 GTB for $40K. Lower than the high point for sure, but no fire sale.

Good luck in your search of the bottom. Just be careful. Sometimes you get what you ask for. The experts have always said, buy the best example that you can afford, sorted rather than a project with unknown gremlins.

 

I think the market has some panic sellers, I have concentrated on keeping only one running, but I am a long way from Fire Saling any cars......

As to the "low end" 308s, they have been used up, a few surface from time to time, and I'd argue an unmolested original example continues to climb in value.

We are just seeing a downturn acroos the board from the economy, not values "down' permanently..

But heck I'm holding my AIG and Fannie shares too! LOL!

 

Congrats, I had heard $40K on that nice 1977 308GTB, encouraging!

 

I agree, when you search for the bottom you will probably get the bottom.

 

I have cash for that 6 speed 360 coupe seriously looking for a home.... Come home to Papa Baby.. come on.. I got cash, you got trouble...

 

There really is a a floor to the price of 3x8's. I doubt that you will ever find a good 308, running and needing nothing, for under $25K- $30K. There is no logic to a lower price. I'm sure the real beaters needing $20K of work will come to the market every once in a while for no money, but the cost of the car is what you pay to buy it plus what you pay to fix it and $30K is about where that number is at its worst.

 

I know of a "driver" Mondial t Coupe way down south that needs a good home but the dealer still won't come off of his $25k price It's gonna need a whole lot of work too ($$$$$)

 

Thanks for that, 410SA.

That's really the "308 Problem" if there is one. The value of the car is only maintained in the $25 -35K range, even after you drop $8 - $12K into it, periodically!

You have to reconcile the dividends as 'smiles per mile" to balance the ledger.

Uro, you'll have to sift thru all those 360s, there's got to be a good one in there!

 

The bottom is not here yet.Bad economic news (including massive layoffs , with more coming) every day. This economy will have a big impact on the nonessentials untill it starts to turn around, which aint going to be soon.

 

See, that's the key. I wouldn't take $40K for my Mondial t Coupe and I KNOW that you could NEVER bring back a sub-$25K example to be as good as mine for as much more than the cheap example COSTS!

There are some less expensive examples out there but many of the cars for sale have issues reflected in not only their price, but in the very fact that they're for sale.

The best cars are still going to be going for good money, just as those who buy them will appreciate the fact that they are without "issues."

The proper advice to buyers is the same it's ever been.

Buy the best example you can find, it's cheap insurance.

 

Bighorn, you are spot on. In fact I think you are tame w/ your comments. "Floors" on these cars are rubbish. Imagine Dow at 5000 & SPX at 500. All bets off then.

 

I'm sure prices are soft, but the really "nice" 328s I've seen are all asking ~$60K right now (or not for sale). Great 348s still seem to be asking in the high $40K-$50K range. Whether these will actually sell... who knows.

Personally, I'm just glad to have a good 328 in the garage and not worried about what it's worth. If another perfect car in the perfect colors pops up at a can't-say-no price, I might buy that, but most of these cheap cars are probably deferred maintenance disasters as people cheap out on those Ferrari upkeep costs.

 

Is someone trying to bait FENZOMAN ? He already posted the gospel on this.


but back on subject: MONDIAL T for < 35k !!!!!!!! Next you'll be telling me 456's in the 30k range..... forget real estate, buy 456's

 

That's true and I feel that every t Coupe should be saved. Hopefully the one I looked at won't get parted out. It doesn't have the original transmission so it'll never be worth top dollar to a collector... but that's not my intent

Following the mindset of snj5, smg2 and others I'd modify instead of restore. For starters; Sparco Milano Seats, Nick Forza's adjustable coil-over suspension system, Tubi exhaust and eventually some engine mods as well. I'm still lurking in the in the 348/355 Forum for ideas from the motorheads over there

 

These guys who think there's no floor are seriously deluding themselves. Same for those who think the cars selling cheap are all poor examples. Or that vintage cars won't take a big hit.

Did you guys ever take an economics course?

 

Surprise! A price-is-falling thread and here comes fenzoman...

 

I'm not sure I understand... Do you think prices are going to fall or go up?

 

Uro...I'm sending you my dry-cleaning bill for the beverage I was trying to drink.

 

Fchat itself provides some of the best clues to where the market is going, and fast.

Post after post: Wow, that's too cheap. What a deal! That will be snapped right up! That's just a firesale, one desperate guy! I would be on a plane to look at it myself if_______________________

-I had any money
-I hadn't just lost my job
-My business wasn't way off
-My portfolio wasn't down 50%
-My wife would let me in this economy
-My current priority wasn't.....
-It wasn't politically incorrect in this economy
-I could get financing

 

Not everyone is as lucky as you are.......

 

Fenzoman, I'm not sure where you are getting your information, but I think prices are falling.

What makes you so sure that's not going to happen? What makes you so sure they are not going to fall farther?

 

URO, I agree with Fenzoman... prices are starting to rebound. Time to buy before all the deals are gone.

 

Oh, no......he's letting out more line......don't you know it's not polite to play with game.

[going to be a long fishing trip....<pass the beer>]