Is this a bubble?

Post of the year!

 

Saw this today. 1985 308 GTB QV 23k miles ask = $95k. SOLD for?? I see a number of interior and exterior things than need attention.

 

An FChat'er inquired about it and posted here: http://www.ferrarichat.com/forum/308-328/474932-potential-308-buyer.html

It may have sold for asking or higher.

I looked into this car last year. It's not perfect, and had a dent that required a one-panel respray. Still, very nice, and if you need a US-spec GTB QV and can't do a Euro, there aren't many of these.

 

Who knew that The Four Horsemen of the Apocalypse would be riding 308s?

 

Same car? Sorry I forgot the link. http://www.autosportdesigns.com/inventory/stock/742/ferrari-308-gtbi-qv-1985 (No aff.) I look over the pictures carefully and saw any number of things that need attention. From memory, decal missing on the engine air inlet hose, silk screen of air box, plenum needs refinishing, 3 of the wheels are dinged up, looks like some mold on the insider of the interior storage box between the seats. The leather covered buttons that go over the window lift holes in the doors are missing. Also noticed that the lower center section of the front valance is red. Mine came undercoated new (see photo). I believe from the picture that I would say my car is in better shape at 31k miles and one owner. But even at $95 I'm not interested in selling.
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Interesting article by Michael Sheehan on his site about taxes from selling at a profit.

 

Check this out:

Ferrari : 308 GTB | eBay

Done by Rocco in Toronto. He knows his stuff and recently sold a GT4 for $70,000. They were fighting over it. Get the good cars while you can. The next year is gonna be wild!

M.

 

In other words, it's not for sale.

 

I happened to see it about 2 weeks ago. It is absolutely perfect in every way

 

Whoa ..$345k

Is that a fibreglass car?
Paul

 

You must be very excited
Description says Euro dry-sump steel.

Best Regards
Martin

 

It is a US steel. Selfishly I hope he gots that and more.

 

U.S steel with dry-sump ?

It's a Euro steel. U.S. Cars never had dry-sump lubrication.
Description says, it was once imported into the US and therefore they had to eliminate the rear side marker lights.

Best Regards
Martin

 

Marlon, your 308 that's for sale is starting to look like the bargin of the year........GLWS

 

I stand corrected. Now have my reading glasses

 

I believe this is the definition of a Hagerty Condition Class #1 car.

 

By far the most beautiful 308 I´ve seen. Destined (or doomed) to be a garage queen !? I wouldn't have the nerve to drive it before they would have hoovered and mopped the roads.

So now we just have to wait for a Vetro in similar condition for half a million, within a few months. And ask ourselves again, if it's a bubble.

 

I was just about to close the deal on this car when I got an email stating that they sold it to a higher offer. The car sold for $92,500. I got a close look at it. I sat inside and looked underneath. Correct that it had a small dent in rear passenger side quarter which they said they were going to repair. Three out of four of the wheels had either scrapes or curb rash. The caps that cover the window emergency crank holes were there and in the trunk. There probably was a repaint to the front end as stated because the valence was painted red and not black. Overall it wasn't in bad shape from just a glance. It was in need of a major which they were going to do with purchase.
I was just about to agree to a counteroffer but I just wanted an email from the owner of the dealership letting me know exactly what they were going to do to the car before I gave my deposit (of course it would have been contingent on a PPI first). Then I got an email telling me that they got a higher offer and made a quick decision and accepted it out from under me. Not the way I would do business but nothing I can do. Who knows what the PPI would have found but I was ready to move forward.
There is a story behind this car though as the previous owner was killed tragically in a very unfortunate accident unloading a car from a trailer. He had a small child and one on the way. All proceeds from the sale where going to his family. Apparently the dealer wasn't making a dime from the sale. I think the guy worked there as well.

 

I know.

My '78 308 is really the deal of a century! I'm not going to take a penny less.

New Price for my '84 - $70,000
New Price for my '78 - $60,000

Marlon

 

Weird tactic.
So now your '84 is $87k CAD.
GLWS


"I don't believe in reincarnation, I'm only going to live once. I paid for the car so I might as well use it".

 

yep.. if it fails to sell at the lower price, keep raising it until....


Bubble? no.. Hysteria.. yes..

 

I think the 308 market is in a big bubble. The generation that grew up with the dream of owning these cars and purchased them at some point are now trying to dump them for newer cars to those who never had the chance to own these cars. This doesn't mean that these cars are worth what they are selling for. The new ferrari owners are in the 30's and 40's and would never consider purchasing these outdated, antiquated cars. The buyers should understand that although their is current demand, the buying pool is slim and continues to narrow itself as every year passes.

 

Real shame about the previous owner. Sounds like he was a younger man. Too bad.

 

Yes. Big time. It was all over Fchat and in the local paper. He was just 30 years old.


"I don't believe in reincarnation, I'm only going to live once. I paid for the car so I might as well use it".

 

Actually most of the buyers I know are in their 30s and 40s and grew up loving the 308s. These cars are still cheap relatively.