355 value

Hello all, I had a client drop off this 97 355 Spider. He wants to sell me the car but it needs alot of work. It has 3k. Its been sitting for six years. Never had a belt service in its life, needs a clutch, needs lots of interior work, and it had a complete paint job which looks amazing. What do you think its worth in this economy?
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Tough call...but if it seriously hasn't had a major since new, I wouldn't start it again! Technically it's an 'off' color which will drop price a bit, interior is an easy fix if it's just sticky parts..but leather is more expensive to repair. The ultra low miles are working 'for' the value as many people prefer that...although personally I'd take a well driven car with more miles.

So as it sits, I'd venture $40-45k. I bet a major service will turn out to be $10k, considering stuff that has gone bad from sitting so long.

And cool Delorean sitting next to it

 

Nice car - my guess was about $45k. My math was $60k value with such low miles less $10k for service and $5k for the color.

Question - if someone has a bare metal respray done at a great shop will that add or detract from the value? Would folks rather have a car with perfect paint or an original paint job with some defects like door dings or chips?

 

All the work will be done in house at our shop, so labor cost will really not be an issue. But this gives me a good idea about talking with him in the morning. Thanks

 

Needs rear decklid struts too...

I'd say $40k is optimistic given we haven't seen the interior but you make it sound as if it needs a bunch of work. How is that possible on a 3K mile car? Was it left outside in the sun with the top down...with alley cats pissing in it and tearing up the leather? (Don't laugh, I know a Mondial that was treated this way).

Have you checked the Delorean for cocaine in the air vents? lol.

 

Why on earth would a 3k mile car need a new paint job and a new clutch? Seems strange.

To answer your question, I'd say it's worth 48k as it sits, and 59k once it is fixed up.

Let me know if you want to sell the Delorean. I've always wanted one of those.

 

It's never been on us streets. Car was bought from dea, it has been dismantled looking for drugs but many items were broken seats were ripped etc. I think this car came from puerto rico..

 

The clutch is frozen in place and the paint had one fender with clear coat pealing so my client had the car stripped and repainted.

 

Interesting. Still waiting on info on the DMC.

 

That belongs to a client of mine, the DMC only has 8k on the clock. He would never sell

 

Oh man...talk about "a stories car". I'd say it's probably worth more as a donor car / parted out. Either that or fix it up and drive the bejesus out of it - but don't ever think he'll have luck selling/flipping it.

 

I'm considering buying it as a fixer upper for myself. Don't care ab service records or stories because I would put close to 10k per year on the car.

 

respray is common and fine, if it was done PERFECTLY. Personally, I'd rather have a perfect resprayed car than a chipped original car...

 

+1 the paint is perfect!

 

LOL...and at $60.00 a piece, the new rear deck struts should be thrown in. But seriously, is fixer upper really the correct term for a Ferrari that needs this much engine work? Nobody mentions frozen guides and other wonderful things just waiting for you...

 

Engine runs fine, clutch is not working. Seems to be frozen. Mostly interior work is needed.

 

Well, not so bad then. I like the color combination myself and the lack of shields too.

 

When I get to my shop in the morning I'll get some interior pics.

 

Shields weren't offered in '97 so there's not much unique there

And there's Ford decklid struts for a small fraction of the Ferrari price...the engine bay is a tough place for gas springs, they only last a few years anyway.

 

Having just sold my car--I KNOW what the market will offer---And most of you guys are dreaming with those values -- I think Sandy Eggo is the only one on par with what this car is worth as it sits....

Some of you are talking $45-$48k plus ----even with no labor cost, just parts for all the repairs that need done and you are well over $60K for a 1997 Spider? That's $60K that you will never see again for that car.... Be a better idea to part it out, much better chance of making your money back.

With everything described that is wrong or possible wrong with the car, I would offer him $30K and tell him he better sell it while he can..... It would never be even that for anyone that has to pay for labor AND parts to fix it.

Sucks to hear--but it's the truth.....

 

I personally like as close to original paint as possible. A few minor touch-ups here and there are fine but I think usually a car isn't as nice as original after it's had a complete paint job.

 

Yep, I agree. I was gonna say $32k, tops. And if the engine leaks down bad, I'd say way less. The engine runs fine?
Remember, it's gonna need valve guides and headers sometime soon too.

 

+1. I have been researching 355 cars that have SOLD recently. The color combo will hurt this car. (AND likely the respray too)

 

i don't think the blue color is a negative. i have a verde silverstone 355...and people tell me what a nice color it is. i think there is more interest in non-red-black cars nowadays.

at the retail level, a major + clutch + new leather/interior + surprises = $20k. if i had to buy as is, i would not pay more than 40k.

 

Im busy looking at a silver/red interior and red/cream 355 spyder at the moment. The silver/red is an easier/better deal but Im worried about the resale on that combo. The salesman tells me the red interior is a special order, therefore rarer!
What do you guys think?