Is this a bubble?

Here's an Enzo Ferrari quote that is pertinent:

"The Ferrari is a dream - people dream of owning this special vehicle and for most people it will remain a dream apart from for those lucky few."

And there is one I can't verify as being from Mr. Ferrari, but is true don't you think?

"I build cars for young men that only old men can afford." Can anybody verify?

 

It's only silly money to those of us that live in the real world, imagine the problems (yes problems) of having a few billion dollars. How do you prudently invest such a sum, in a diversified way and in stuff that you actually enjoy owning? If I had a few billion (one can only dream), I would buy at least one car of every Ferrari model every made and I literally wouldn't car how much anything cost. I then wouldn't care what happened to the value because I would love owning the cars and would have more money than I could ever spend so would never have to sell. There are several buyers currently in the market that spring to mind which I think fall into this category.

 

This is a bubble
Image Unavailable, Please Login

 

I sent the seller a message to see if it is still available. Also, if you read the description and look at the photos. It has been restored/modified with non-original parts (seats, engine parts, euro bumper, etc.) and has 57,xxx miles. This equates to a lower price in my book. If this one had all original part types and was half the miles it would have easily sold...probably for more. My opinion.

 

Sold...

 

Wow!!!


So, what is the current HIGH price for a sold 308???




PDG

 

Aha... this car again. It has been on and off the market since the owner that restored it sold it in 2012. I followed his blog while he was doing the restoration. The then-owner is on fchat if I remember well.

rebirth of a Ferrari

The restoration has been well done and by some of the best names in the NE but agree with you that it may have strayed a little far from OEM by current standard. Then again when this car was restored it was a 30K car and at the time an 'improved' car was probably more desirable than OEM.

I think we are at a tipping point in the restoration of these cars... in the past I think many here did not mind 'improving' the cars with some functional aftermarket parts... fuse blocks, euro bumpers, diaper-delete, electronic ignition... but I am starting to feel the tide turning in terms of originality is paramount. I know some members have been preaching the originality sermon for some time and now I see their congregation increasing. I myself have all the original Ferrari parts for a Euro bumper 'improvement' but for now the parts stay in their boxes... I can't decide.

I wonder if we will see any more 308 engine capacity increases given the increased values.

Regards
David

 

Thank you

@Gilles82:

So far we know, that the ad is gone. Or can anyone confirm, that the car is actually sold ?

Best Regards
Martin

 

The stress of having a few Billion Dollars is not how you can have fun with it, 'cause if you can't figure that out you should be dead. The real stress is how do you use it where it will provide maximum good without tanking a sector of the economy!

 

As long as you save the original parts and ensure that all modifications/upgrades are reversible there should be no issues. and you should get full value or more for the car. Cut something out that is needed to bring to stock, and there should be a discount.

 

Yes

 

Creating dreamers too

Look at these asking 2-3 times what they're worth


Ferrari 308 308 GTS | eBay

Ferrari 308 RARE Berlinetta | eBay

 

well i wish them luck and actually, hopefully, there is a bidding war and they receive > asking price.

 

The market and me completely disagree with you.

 

A diaper is something to be cherished, not thrown away.

And yes, when I was searching for a 308 last year, I avoided modified cars.

 

We can ask any amount. The sky is the limit. It's the selling price that is the real reflection of current values.

So, what do you predict these cars will sell for?

 

LOL

A statement definitely not to be taken out of context.


Sent from my iPhone using Tapatalk

 

Really $109 for a 2Vi and $90k for a fair condition 79 is accurate market value? Bring the checkbook and you can pick mine up for that price. I'll even throw in my spares.
Image Unavailable, Please Login

 

So what happens when the only ones listed for sale are at "dreamer" prices? How many other GTBs like the one in your link are on the market? How many are substantially less than this car? Considering the relatively low avaibility, it seems these prices are somewhat close to market... otherwise we'd see a fleet of them listed for less. The reality is many buyers aren't as interested in complaining about asking prices as they are with buying a car in the condition they seek, when they seek it.

 

Those may or not be overpriced, but don't put too much stock in the Hagerty chart. It looks like they didn't have enough data points to update it.

Again, I think we'll get a better picture in the spring, when the market tends to be more active.

 

Can someone please tell me when the 3x8 models will get across the board respect or is it a lost cause...

 

If they do sell at those prices then happy day our cars jump significantly in value as there is a reference to justify the asking price. Availability does not matter in the end as a car is only worth what one will pay for it. I fully expect these cars to get to those values but Paying 30-40k above market value at any time is not a winning plan.

Agreed any valuation tool is flawed and the market can be effected by many things but there is also reasoning and research behind their numbers. The graph is of the 79, the top condition/flawless cars are listed at $70k. The car in the ad is fair condition with a asking price $20k higher than that.

I love my car, I spent years dreaming of owning one and love the values are appreciating but separating logic from lust those prices are dreaming. Someday they won't be but today they are.

 

I purchased my 308 based on the fact that i thought it was the greatest looking motor car i had ever seen, and turns out that it also drives pretty good as well. But i think in this world there are people who will only buy something based on what everyone else thinks. Not me.

 

I think you are taking this wrong. These cars are getting respect and the increase in values are a sign of that but would you drop $90k on that 79 advertised with paint flaws a torn seat, and missing air pump? It's a nice looking car and nothing that couldn't be corrected but it is in fair condition not concours and especially not $90k condition.
For that kind of money I would buy FerrariPilot's car and a stock spare engine for if I wanted it to be stock and most likely have change.

The prices will get there, just not yet and until then it's dreaming.

 

If this guy finds someone to give him 100k for his 2v B, I will buy him a keg of any beer he wants.