So what is typical 81 308 GTBi going to go for this summer?
I agree with flashman. My 85 308 is Hagerty #1 and has only had a few touch ups. At my last concours the Judges were in awe of the paint. It even beat out two restored Dino's for first in class. The secret? Find a detailing person that can make your paint pop! We are lucky enough to have Jason of Xcaliber Detail out here in Southern California. After he works 12 hours on your paint it looks unbelievable.
I agree with most of the earlier comments that there is not a bubble in 308 real world prices, yet. What I think people may be sensing is a bubble in ASKING prices in such venues as Hemmings, eBay (Buy-It-Now prices, High starting bids, unrealized reserves) and the auction houses. For example, Bonhams is advertising a 1984 308QV (#53225) in Prugna/Tan with about 11,000 miles having an expected auction value range of $75,000 to $100,000. The latest Hagerty assesses a Condition #1 car of this type at $62,000. I doubt that this discrepancy is caused by just the Prugna color.
Great story on your purchase ! Congratulations, sounds like you are in bliss ! As for your comment on the older cars and bubble side/ less popular as they age.... keep in mind ferrari has been the benchmark of what all other cars have followed in the past. Therefore, comparing a model A or 50s era land barges is not the correct comparison. Car enthusiast don't grow up dreaming of a model A The Benz gullwing will forever be a dream master piece as other ferrari's will, time will march on, but the finite examples of a Daytona or Dino or 308 gtb will not have downward significant pressure like a resto mod 67 camaro or model A.
I have found the Hagerty valuations to be low. Not just for Ferraris but all makes. Some of that understatement can be attributed to using an average when prices are rising. Factoring in prices from 9 months ago are going to understate current values. You also should remember that Hagerty is insuring these cars and a lower value is in their best interest.
Just wait for the next economic downturn. They will drop like rocks again. Cars swing wider than the Stock Market. F40s were cut in half. 3x8s will come down again. No worries.
Is it a bubble or is inflation just catching up? Your dollar today does not buy what it did 10-years ago . I agree on the asking prices. I see cars very similar to mine asking $80k on e-bay that are restored .Ive done the math and I could have the exact same restored car if I dumped $30k into my car (excluding a named shop engine rebuild and my numbers are all good last time I checked so why would I??). So youre telling my car is worth $50k ..Ill bet if I put it on f-chat right now Id get plenty of inquiries and no really offers with-in 10% of that number. But Im willing to admit the prices are rising maybe just not as much as some of the wishful thinkers want them to. Has anyone heard of an average car getting $50k plus recently? I dont mean a new paint/engine/interior getting those numbers I mean your 30,000 mile carb. car with good maintenance, decent interior, no rust and no major issues.
STOP IT YOU HEATHEN! Since I'm 6 digits into a 2-year E type resto, if this happens, I'm driving it through your living room. You can then have that one cheaply. Seems fair for crashing the market.
I think you'll be ok. As much as I'm enjoying the relative rise in 308s, I'm even more encouraged by the rise in E-Types!
I'll build a roll-up door and install parking stops in the living room wall just in case. But I think you're both on safe ground - some cars appeal to every generation, and E-Types are in that category. I disagree completely with the notion that true classic sports cars lose value when a generation ages out of them.
I hardly see a bubble coming per se in Ferrari prices unless some major financial event causes a run on capital. Otherwise the 308 series are just the next ones on the escalator... some got on a long one back in the 80's and never looked back - GTO, 275GTB etc... others BBI daytona, and dinos caught short esclators but they are all on the same path now... when 308's get to be $300K cars - that will be a bubble... at $100K value it finally means you can spend $$ on a 308 restoration!
Totally agree that eTypes will always be admired--but I do think Hagerty has these very much overvalued right now. Photo from a dozen years ago with my two boys--now 18 and 21! Trying hard right now to join your ranks by finding a 308GTS QV. Image Unavailable, Please Login
I think 308s are a bubble for sure. Why? I also draw parallels with now and 1989, etc. Enzo's death caused widespread speculation in Ferraris of all kinds....and that came crashing down massively during the first economic blip. So why are 308s getting nutty price wise now when a year ago you could buy a nice QV for $35k? Because LdM left Ferrari. So again, like when Enzo died, there is major speculation on is Ferrari going to go downhill by going "mainstream" with production? What will the stock float and Fiat separation mean? Will Marchionne kill or damage the brand/company? They will never make a car like the 60s-70s-80s again!, Buy now! This is all going through everyone's mind. People right now are buying any 308 they can get their hands on. People look at the 308 and they are thinking "THE NEXT DINO" in bright neon lights. Maybe so. Part of me hopes so for you owners. Part of me hopes not for the good of people who want to buy these cars. Frankly, I'm more of a 308 GT4 guy--and not a GTB/GTS guy so I really don't have a dog in the fight. But I do see the makings of a bubble here. To be honest, it's a similar bubble as early 911s.
Not really, no. People are asking crazy prices here in the US but few cars are really selling for much more than they were a year ago except cars that are special such as glass cars, true euro cars (not every car on eBay that is "euro spec" because the bumpers were swapped), and those that are truly exceptional in quality. Just last month a fairly nice dry sump GTB went to auction though Fleabay from Texas. Bids went up to $65K. Reserve wasn't met. What that means to me is that these cars aren't worth $65K to most U.S. buyers. The reserve or whatever the owner was wishing for make no difference whatsoever. It's like Dan Akroid offering up his Patek Philippe to pawn and being told by the pawn broker "it's worth 50 bucks". EU prices are double what they are here...I'm not sure why exactly, and have no clue what it really means. But for now, I'm just not seeing anything but stupid prices being asked. I love the car so I won't judge what's right, but I'm still not convinced there's much more going on than a little hype. Ciao! Hannibal
This one? If so, it sold. Who wants to call them up and ask about the selling price. Three things, for me, that would result in a lower price: its engine compartment, color, and miles. Hagerty 2? 1985 Used Ferrari 308 GTB QV at Ideal Motorcars Serving Allentown, PA, IID 13039316 Ferrari 308 GTB QV | eBay or this one that hasn't sold but it's a 1982 (not as desirable as carb or QV) and the engine is crazy dirty. Hagerty 3? Ferrari 308 RARE Berlinetta | eBay
"No, no, no. This is a Rouchefoucauld. The thinnest water-resistant watch in the world. Singularly unique, sculptured in design, hand-crafted in Switzerland, and water resistant to three atmospheres. This is the sports watch of the '80s. Six thousand, nine hundred and fifty five dollars retail!" "...it tells time simultaneously in Monte Carlo, Beverly Hills, London, Paris, Rome, and Gstaad" "In Philadelphia, it's worth 50 bucks" You see? Ebay is Philadelphia!
Glen...you are the man! That's it exactly...I really need to watch that again! Perfect! Ciao! Hannibal
Where are the bubbly prices? I'm not seeing any mind-blowing sales. I believe a nice '84 QV with 25K miles sold for around $60K in Denver recently, but that's hardly a stop-the-presses moment over at Sports Car Market. And I don't believe you would have been able to touch that car last year for $35K. Prices are up a bit, but compared to Daytonas or early 911s the price rise is pretty trivial. Do I think values will rise? Yes. If you want a classic two-seater Ferrari from before 1980, what are your options?
