I can't understand why some owners would become hesitant to drive their 3x8s if their value rose above a certain price point. I would expect that insurance premiums are non-linier in an advantageous way; a $250k car does not have 10x the premium of a $25k car. In some ways, a high value is an asset. Short of a fuel fire, is it even possible to do $250k damage to a car? Have a bad accident in a $25k car and it can be declared a total writeoff; have a bad accident in a $250k car and insurance will pay to have it fixed back up. Blow an engine, a non-insured event, and the cost to repair is the same for either value. Parts and labor won't change much since they are mostly driven by demand; not vehicle value.
Collector car insurance is relatively affordable, and the mileage limits are beyond what most Ferraris get driven anyway. And yes, it would take a hell of a collision to total a $250K vintage car.
One good thing about prices going up is that it will stop all those cheapskates from customizing them! Now proper modifications are fine but using whatever parts will make it work, and the more Ferrari stickers and emblems you can put on them the better, should come to an end!
the 308/328 has aged so well. there are many Ferraris and especially other makes that haven't aged so well. if you look at the similar vintage Porsches, the 308/328 has actually still been getting its butt kicked. does that speak bad for the 308/328 or just speak towards the potential?
The thing that saddens me about this sudden and rather rapid increase in values is that it will take out a lot of potential enthusiast buyers before they even get the chance to take the plunge. I was fortunate in that I was able to jump into the Ferrari game during a fairly large window (most of the 90's & 00's) where the model I wanted (328) was reasonably cheap. I am nowhere close to being rich, but I make decent money and I was determined from a young age to buy this car, whatever it took. Luckily for me, I was in a position to buy my first Ferrari at age 25 and I've never looked back. I'm sure there are a lot of guy like me who grew up during the 80's and love these cars but either weren't in the financial position to make a move, or were just nervous about costs and such. Now, if these guys and gals want to buy a 3x8, they're going to be out of luck, and that sucks. I know that if I had waited until now, I wouldn't be able to do it anymore and that would be a crushing blow because it was my life long dream to have one. I'm very grateful that I do have one. I just feel bad for those who have also really wanted one but now may never get the opportunity because of other priorities like family and what not.
+1 The idea of a starter Ferrari is not a bad one. It's actually a great thing. But at this point the 328 is moving out of starter Ferrari territory. Entirely predictable. At $100,000 I'm not sure I would have been a buyer of my 328 GTB. That said, I wouldn't sell it for anything less than $175,000 (going price of a CS). Go figure. Oh well, there's always a higher mileage 348. -F
I think the 308 is fast moving out of starter territory. Those laurels will soon pass to the Mondi, if they haven't already.
In the UK now, the "starter" Ferrari's are Mondials, 348's and 456's. The 328's left the "starter" market behind @ a year ago having gone from selling for @ £28K ~ £30K back then, to selling for £65K ~ £100K today!. Now the investors are snapping them up to make money on them!
Amen! I have a personal goal of rolling my odometer as many times as possible while I am my car's caretaker. A goal I'm failing at. I need to stop working so much!
Here is a link -- very much in line with this thread. Gotta like this. Ferrari 308 GTS - Ferrari, Maserati, Bentley, Lotus of Denver - Ferrari, Maserati, Bentley, Lotus of Denver
I think I was extremely lucky closing the deal on my 328 at the beginning of this month. I was working in a very tight window to try and find a solid nimbler 2 car with good documentation. I personally thought I had a few more months to locate one, not days. I'll be honest here, I think the window I was operating in has closed and I really feel for the people who just got priced out of the market.
Here is the car that has aged well! :0 Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
