I used to own a red on black 328... thinking I should have kept it! Checking FChat and Autotrader... a decent 328 is $50k+? GT
More then that in some cases. GTB's have especially gone up. There are a few for sale now for around 100 grand...
Hagerty's valuations for 328s just took a pretty big jump. "Condition 2" GTSs are valued at $54,100 for '86-'88s (up from $40,900 last quarter). $71,000 for a 1989 (up from $50,500). Increases for GTBs are even greater. This follows a big increase in Hagerty's valuations of 308s.
They do seem to be going up lately. I was at a car-guy gathering last week and there was a guy there bugging me to let him pay $57k for my 88.5 GTS. He's a guy I've know for a few years and he has a decent collection and he was serious. But all my Ferrari friends say I should hang on to the car. I was not thinking of selling it anyway.
what would you replace it with for the same money that offered the same overall experience...I can think of nothing.
Well heck, if this continues, my 328 will be the only car I have ever owned that I actually didn't lose money on when sold. Of course, had I kept any of my old Mopar muscle cars from back in the day - including my street Hemi, I would be living in Monte Carlo from the profits! As it was, I sold it for $2500 bucks to buy the next Mopar...
There is a 328 in FML with 71,000 miles, asking over $50K. I think there's some wishful thinking going on, but the best cars (unmodified, platinum level) are moving up permanently.
Several years ago here F40's were well over $1Mil. 18months ago, $500K. Today $1Mil flat. Just some data points. I drive cars till they drop. The next owner of my car will be a junk yard.
Gosh........2 previous threads. One 308 sold for $2k and one for $5k. Not sure the rocket has been lit yet. While barn finds are not a good retail indicator - they ARE an indicator of an overheated market. When even a 308 scrap of metal goes for $10k - you will know the 308's day has come.
Occur If you are referring to the "sight unseen" purchase, upon sight it was a Mondial and as of now transaction has not been completed. I am not aware of a $5k purchase. Can you elaborate?
I bought my '89 for $47k back in 2012, got an offer early this year for $73k. but I'm holding on, not for the value going up but because I'm still in love with it...
I am dealing with this right now, but thankfully I already have a car. As a lot of you know, my obsession is the 328. I'm on my 7th, but I am on the lookout for another. All I really want to do is find an earlier concave-wheel car to replace my '88.5 convex wheel GTS. A year or two ago this would have been simple. Just troll the classifieds and choose the best deal out there. Now everybody is asking crazy money for cars, with seemingly no regard for miles. At least if I am stuck, I'm still stuck in a 328, but I would like to make a switch before it's too late.
Another "time capsule" car in the UK: Used 1989 Ferrari 328 Gts for sale in Surrey | Pistonheads USA suppliers have started advertising in the UK owing to the big price differences: http://www.pistonheads.com/classifieds/used-cars/ferrari/308/1977-ferrari-308-gtb/2457645
I'm a half-a-smart-ass, but at what world population do they appreciate? Serious question. Or will they never? If so why? Also, what is the meaning of life?
Good philosophy, but perhaps bad inductive reasoning? What about the dino? Not that I agree with current valuations, but they really aren't moving off their crazy high. If a solid F40 ever drops down to 500k again, I may need to get another mortgage on my house.
I always find this a little odd. My dad has an all original 1964 chevy Malibu SS. They built 55,000 in 1964 alone. The 3x8 may be high production for old Ferrari but not really compared to everything else.
Had a '69 Mustang that I bought years ago for $900 and sold for about the same. The same car, if in the same condition would be $20K+ now. Boss 302 & 429 Mustangs are $100K+++ if you can find one. Maybe 100 were produced. A 429 sold last year at auction for $417,000.
I keep comparing 3x8 production to 1967 Corvette production. Based on production alone, Chevrolet made as many corvettes in one year as Ferrari made 308s over 9 years. So why is the Vette considered more collectible? Production numbers are contributing, but not everything. I'm glad to see numbers going up on the clean cars. Like Dinos, a $100k restoration is starting to make a little more sense with increasing prices.
I think if you look at all 308s you'd think there are so many that they should not really appreciate. Still, once you narrow down to driver or better condition, the pool becomes more shallow. Then add in the more desirable models in said condition, and there are even less of those. I think 308s are starting to look like some of the last fix-it-yourself Ferraris that still smell like gasoline, oil, burning electrical wiring and leather, this giving that nostalgic old-time Ferrari feeling with ownership. People are looking for that. There will still be and in fact still are cheaper ones around. It looks like few of the high dollar GTBs are getting bites on the 'Bay and 30K or less can still get you an 80 GTBi if you live in Hawaii. The whole market only seems to have gone up for VRs and a few more desirable models, Euro QVs, Etc. Ciao!
Uk market is one of a kind. But the upswing is there. Definitely! And I truly think iTS there to stay.
I bought My 348 TS from The Ferrari Centre 3 months ago and got chatting to them about the market. They'd noted a lot of investors suddenly buying Ferrari's again to make money on them which was driving the prices up. They said that they're bracing for the day the market drops but do not expect it for @ 1~2 years, and even then they reckoned it wouldn't be as bad as '89/'90 (I'm not so sure on that one though!). Having watched the Ferrari markets over the last 5 years, the rise on certain models (the 308 GTB/GTS, 328's and 355's), has been pretty unbelievable! The knock-on effect of these price rises has been that, the prices of the less popular models (the 308 GT4, the Mondial and the 348's), have also risen (albeit to a much lesser extent!).
