I agree, I've been talking about that in another thread a while ago with Newman. All the correct finish at the right place but with WAY TOO MUCH attention. No scratch on anything. Bolts and nut being put in place with big care, etc etc!! Assembly worker never took all that care when assembling them. But it's been like this in the restoration business since long before us. But they did a great job on that 308. Very nice.
Exactly what I think, and what I fear, unfortunately. Got both my cars appraised these days, and we are very near my personal limit... Rgds
You're made of sterner stuff! One thing I like about my car is that it doesn't own me. It will take quite a run up in price before it becomes more valuable as an asset than a toy.
Nah.......they are meant to be driven. Why own it if you can't drive it or don't feel comfortable driving it......keeping it covered until you can cash out for 3, 4, 5, 10x what you paid for it is only monetary. Now if I polish every nut, bolt and lug nut then you have a different story. As David says "my car doesn't own me".............makes sense to me. But again I understand different strokes for different folks.
It's not that they are over restored. The problem is the materials today like paint is of a much higher quality. All the nuts and bolts being redone are exactly the same as it was in 1977, the problem is none of us remember how shinny they were when new either A new switch is a new switch, a new headlight is a new headlight, a new steering wheel is a new steering wheel. Take a good look at a new 458 then check back when it's 40 yrs old I saw Newmans car that he did for Brent a while back, the red on that 308 was similar - looked over shinny, but seeing many redone cars now that's the proper way with the correct paint code, and they all look STUNNING !
Oh, I totally agree: they are meant to be driven, this is exactly how I see it. Trouble is that since the prices / values have taken off, everything related to these cars is now following the tendancy: cost of labor, parts (for instance: have you had a look at the prices for tool rolls recently?...) insurance premiums, etc... And so one day I will be afraid of driving the cars just out of fear of not been able to fix these correctly if something goes wrong. Still love driving the cars, no question about it, but it seems that these are slowly out-growing me... Rgds
I agree to an extent...... However I don't think shops are going to charge $120 an hour to fix a 360 and uncharge a more valuable car to $160 for the same hrs worth of work. The parts may go up, but really who knows at this point.
Exactly. Thats the way proper restorations are done. The question is whether the market is ready for the selling price necessary to get back the investment in a restoration of this standard. On these cars surely it isnt at the present time. Maybe will be in the future.
One of the great things about 308s is that you can do the work yourself. In fact that's another dimension of enjoyment. I don't know what its like for you but I pay 500$ a year for an agreed value policy (50K) with no mileage limits.
Well, The trouble is that most insurers here now ask for an appraisal by a certified expert, since the cars are now (at the minute, who knows how it will be next year?) way above 50 k€. The appraisal has to be actualised every two years. Mines are now 87.500 and 95.000 €, so insurance will be more or less doubling...they were below 50 k€ two years ago. Rgds
Similar conditions with my insurance. But if I had to double the value, the around $500 I pay now would get $900. ( ~$400,-- are the car insurance, $100,-- the liability insurance, which would remain the same ).Triple the value ---> $1300,-- and so on. Bruno; at least here in Germany I can decide myself, when I want to have the appraisal adjusted. And at least repair costs are insured with 200% of the car's value. Best Regards from Germany Martin
Is there a bubble? YES! Stuff that has been around for decades does not 'just' shoot up in value over a few months at the rates we are seeing. How big is it? Where are we on it? When will it pop? You would be an arrogant fool to think you know with any precision. I spend time in the 308 and 246 section. What is happening here is identical to what happened there 2-3 years back. The tell tales are: - Sudden increase in value threads - Sudden increase in 'wanted' threads - Sudden increase in 'What is correct' threads - Bubble threads In the 246 section most of these threads cooled off a few months ago and they are in full flame here in the 308 section. Of all of the things I have ever read or seen on the subject of bubbles the image below captures it best. Image Unavailable, Please Login
Just back from Paris, saw this car and was there to make an offer, One thin was sure; Everyone wanted a piece from this collection, no matter the price. I stayed for long time near car and looked over my rivals and it was clear that old gues with important looking preafcases where those rivals, most of those did not even bend over to see chassi, maybe it was only for making one important (Paris way) who knows... I think 28k +commision, shows that buyer did not understand what this person was buying; chassi is GTSi and engine was from 3.2 Mondial (hydraulic clutch) Ok, good engine, but wrong chassi. Engine had run, because someone had hooked Mondial rev counter to dash, but this last startup was probably in 1989, because those blue oil filters are long gone and this one heavily rusted from top, everyone can ques what engine internals look like... Chassi was fine and cleary from factory original state. So maybe today or tomorrow, some "new" car owners will have shock of a lifetime; "what have I done!" For that new 308 owner; When you had enaugh Ferrari experience, do send me PM, I'll make you a good and fair offer for 12.000 for that car.
Well, that is pér-fect news !!!! I'll buy me another Vetro for eur. 30 K, when the "despair" phase arrives (when is that ?), convert it into my long desired 308 trackday-tool and sell my Vetro road car for 300 K in the next bubble, since history repeats after itself ??
You are much more involved in the 246 scène than most of US But what i've understood is that the 246 is already going on for years. What do you expect for the 308s. Similar duration?
Miuras are stunning, but, if we make exceptions for beautiful cars, that makes the "generational" theory less useful. Does a 308 fall into the "beautiful car" category? Or is it just a car that Gen X'ers will want, a two-seater Ferrari that will be cheap and forgotten after that cohort hangs up their keys?
We must be in the "Awareness Phase" according to your chart. I think it is an accurate description for what's about to happen to our 308's. Only those who have Harvard Degrees in Economics should chime in......
Sort of, except we haven't seen an actual huge run-up in prices paid. More froth in the threads than in reality.
I would tend to agree. Although my cars have generated a ton of interest they are still both available. The real test will be once Summer starts to roll around......
Fantastic chart. To me, my old BBI is in the advanced stage before peak; the 3x8 between 'Media Attention' and 'Enthusiasm', with a few speculators leading the 'Greed' edge.
