Is this a bubble? | Page 3 | FerrariChat

Is this a bubble?

Discussion in '308/328' started by slvr993, Jan 8, 2015.

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  1. Hannibal308

    Hannibal308 F1 Veteran

    Jan 3, 2012
    7,177
    Arizona / Hawai’i
    Full Name:
    Hannibal
  2. Hannibal308

    Hannibal308 F1 Veteran

    Jan 3, 2012
    7,177
    Arizona / Hawai’i
    Full Name:
    Hannibal
    WTFO! Your link lists that GTBi as sold, best offer accepted, when listed at $82K. It's now up again for $109K...u gotta be kr@pp!ng me!

    This is so fun!

    Ciao!

    Hannibal
     
  3. Oengus

    Oengus F1 World Champ
    Rossa Subscribed Silver Subscribed

    My 77 308GTB (20k original miles) is in getting some work done to it, bushings, CV boots, new tires etc etc.
    Ive had 2 offers of 75k ea on the car and I haven't even driven it yet due to unsafe tires..........Its a beautiful car mechanically and interior....exterior paint has been discussed in a previous thread.
     
  4. glenv6

    glenv6 Formula 3

    Jul 4, 2011
    1,158
    New York
    Full Name:
    Glen
    Thanks Hannibal - It just may be the most frequently quoted movie on FChat!
     
  5. Hannibal308

    Hannibal308 F1 Veteran

    Jan 3, 2012
    7,177
    Arizona / Hawai’i
    Full Name:
    Hannibal
    Exactly! You describe your car as pretty much exceptional, even though you appear to be doing all kinds of things to it to make it more exceptional, so higher prices make sense.

    But 77GTBs in general aren't fetching $70-80K regularly here unless it's from exactly those few who feel they need to jump on the bus because of the hype.

    Ciao!
     
  6. Oengus

    Oengus F1 World Champ
    Rossa Subscribed Silver Subscribed

    Other than the paint....yes I would say exceptional.
    However I want to make it a great driver, new bushing, new tires etc will make it just that.
    Then Im gonna drive the $%^* out of it.
     
  7. Hannibal308

    Hannibal308 F1 Veteran

    Jan 3, 2012
    7,177
    Arizona / Hawai’i
    Full Name:
    Hannibal
    That's fantastic! Exactly where I hope to be in 2 years. I bought my Euro 77 GTB in complete running but mediocre condition with the intent to restore from the get go. I knew I wouldn't be happy with a 2-3 car. I'm not interested in concourse, but I am interested in near perfection from an appearance and function standpoint right down to the bolts and wires. I couldn't find a car like that anywhere really. I was also only interested in a VR or a dry sump GTB. Unfortunately, I missed the bus for the VR while I was in Afghanistan last winter and my bank was too stupid to know the difference between a VR and a run of the mill US GTBi. Now I've got the canvas all paid off and ready to become art again, just as yours is!

    Ciao!

    Hannibal
     
  8. 308 milano

    308 milano F1 Veteran
    Rossa Subscribed

    Jan 15, 2007
    5,343
    Montana
    Full Name:
    Kim
    Okay my three bucks, (used to be 2cts.)
    Sometimes guys, you're your own worst enemy.If you feel your 3x8 is not worth $xxx, then as a buyer I sure as hell won't either. Positive reinforcement starts at childhood and extends all the way through the 3x8 series. The rest of the world gets it,.. yet you talk these prices down on a daily basis. This is Handbuilt Automotive art at its finest. No offense to the Pantera owners but $50-$70,000?? Porsche 911 anything $$$$ yet some here feel that the 308 is not justified breaking the $35,000 mark.just amazes me.
     
  9. MREUS

    MREUS Formula Junior
    Owner

    Jul 24, 2006
    832
    Huntington Beach, CA
    #59 MREUS, Jan 9, 2015
    Last edited: Jan 9, 2015
    Are those that think that this is a bubble selling their 308...to take advantage of the bubble? If not, why not? Serious question.
     
  10. Oengus

    Oengus F1 World Champ
    Rossa Subscribed Silver Subscribed

    #60 Oengus, Jan 9, 2015
    Last edited by a moderator: Sep 7, 2017
  11. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    22,607
    Gates Mills, Ohio
    Full Name:
    Jon
    No bargain here either ... I'm in for the duration.
     
  12. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
    Owner Rossa Subscribed

    May 4, 2001
    36,567
    Birmingham, AL
    Full Name:
    Tommy
    Mine stays in my garage until I die.

    I grew up wanting one. It isn't a money thing with owners like myself. For the rest, I hope they do well in the market.
     
  13. Jezter70

    Jezter70 Formula Junior

    Nov 1, 2013
    530
    Surry (from UK)
    Full Name:
    Jez
    +1 Kim!
    The 308 GTB/GTS is a rare and beautiful handbuilt car, that in carb form in particular, offers a very similar driving experience to that of a 246 Dino (many would claim better).
    I would go as far to say that i can see few rational reasons , why good early 308 steel cars, shouldn't in principle, be worth 50% of the value of their Dino 246 counterparts, at the very least.
    BR,
    Jez
     
  14. Oengus

    Oengus F1 World Champ
    Rossa Subscribed Silver Subscribed

    the Dino doesn't even say Ferrari on the engine block ;-)
     
  15. MS250

    MS250 Two Time F1 World Champ
    Lifetime Rossa

    Dec 10, 2003
    26,610
    Full Name:
    Avvocato
    Me too !
     
  16. rickasc

    rickasc Karting

    Sep 4, 2012
    125
    Connecticut
    Full Name:
    Rick
    +1. I just don't get it.
     
  17. mustardfj40

    mustardfj40 Formula 3

    Jun 17, 2004
    1,142
    Northen California
    Full Name:
    Ken
    I don't believe it's a bubble because relatively the price of 3x8's are still reasonably low for such rare beautiful hand-build cars, so if you haven't gotten your 3x8's yet, get it while it's affordable. Buy it because you love it. if you make money out of it later, great! If you don't so what?

    As for people who talked down the value of their Ferrari and other Ferrari, it's pretty much a culture of this forum. There used to be a lots these folks around but many have sold their Ferrari for cheap and left. So if you want a cheap 3x8s, wait for these gentlemen to post and offer them some low number for their 3x8's you may get some good deals :)

    Btw, I hope it was a bubble so I can pick up a mint air cool 911 for cheap!!!
     
  18. jessup

    jessup Formula Junior

    Apr 26, 2014
    403
    Santa Clara CA USA
    Full Name:
    Jessup

    This.

    I payed "up" for my car, but compared to other beautiful classic sports cars it was a bargin. And a bargin at twice the price. I believe this is a correction, not a bubble.
     
  19. Meister

    Meister F1 Veteran
    Silver Subscribed

    Apr 27, 2001
    5,516
    Duluth, MN
    Full Name:
    The Meister
    Everyone can thank me for the uptick. I sold my 308 for peanuts in 7/2013 and seemingly within a few months the needle swung upwards. The guy who bought it from me doubled his $ and I didn't even get a christmas card...:)
     
  20. glenv6

    glenv6 Formula 3

    Jul 4, 2011
    1,158
    New York
    Full Name:
    Glen
    To the OP - Market prices for 308s in the sub six figure range does not a bubble make. It is difficult to fathom what might be holding the 308 back in a market this hot, but to me it feels like the 308 is about to break out from all those nit picky things that have held it back. Big wallets should be after these cars for exactly what they are...
     
  21. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    22,607
    Gates Mills, Ohio
    Full Name:
    Jon
    thanks
     
  22. miketuason

    miketuason F1 World Champ
    Owner Silver Subscribed

    Feb 24, 2006
    15,825
    Cerritos, CA.
    Full Name:
    Mike
    What happen when the bubble burst?
     
  23. jessup

    jessup Formula Junior

    Apr 26, 2014
    403
    Santa Clara CA USA
    Full Name:
    Jessup
    You still own a beautiful car that is fun to drive.

    Much better RISK/REWARD than any stock.
     
  24. Member

    Member Karting

    Jan 1, 2015
    67
    Full Name:
    Sam
    Hello,
    iam a collector and searching for a Ferrari 308 Vetroresina European LHD Model.
    When you now that one is for sale,
    please let me now when you can help me.

    Never Person here in the Chat want sell his Vetroresina to me?

    Thanks a lot.
    Kind Regards
    Sam

    Escuse me guys my English is not perfect
     
  25. slvr993

    slvr993 Rookie

    Aug 16, 2013
    49
    West Chester PA
    Full Name:
    Jeff
    OP here. Wow - fantastic input. I agree with several here that there is a real increase in value / selling price of the 308 at the moment. The true value increase is being some what masked / exaggerated by unreal asking prices and I think (but can't prove) those high asking prices are creating the frenzied feeling of those who've been on the sidelines and fear being priced out. I am a sideliner, jumping in now after 15 years in Porsche, and for example seeing an '81 308 GTSi with no mainatinance history and in need of a major asking $59.9 and then a quick scan of ebay or hemmings with a steel GTB pushing $110K ( asking ) - it does create the perception of an increase thats beyond reality.

    I think selling prices will continue up but asking prices may become more realistic which will give the illusion of a slight "correction", but the selling prices will continue to go up especially for very nice examples. This is what happened with the 911's. It will be interesting to see what happens at the January auctions.

    I'm on the hunt, and really don't want to buy at 2017 prices in 2015. Not because I want to make money, but simply because I want to limit how upside down I get with my next toy. I tend to put a lot of $$$ into every car.
     

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