Real world 308 pricing in canada

Quick question. Say they are good clean cars, ready to go with fresh services and nice interiors. What would be the real market money. Im very curious, only because I cant get my head around what they once traded for. Are these things really selling for 80-100K? Has anybody here paid that much for one?

 

32 views and no comments. Interesting.

 

I haven't followed it too closely to comment. A while ago, I found two GT4s listed above $100K on Autotrader. There are a couple of GTS injected cars on there now asking over $100K (maybe over $150K). After a while they disappear and I don't know if someone bought them or no one called...

 

Only reason why I'm asking is because I have a client who is thinking of listing his 3 308's. One is a 79 car, one is and 83 and the other is an 85. All are in really good shape. 40k km's and under. I'm lost and have no idea what to recommend for a price. The prices are all over the map. I have no skin in this game. Just trying to help the guy out.

 

$40K each, max... PM me when he's ready to sell!

Sorry, I have no idea what they're actually going for. Hagerty actually runs a Canadian version of their vehicle valuation tool, www.hagerty.ca , which gives Canadian prices, but I don't know if those are just exchange rated from US data. They do show a slight slump in 308 prices since last summer, but a good 83-85 308 QV, condition 2, still shows at over $100K CAD.

 

Try asking for 120K CDN and see who bites.

 

Selling price probably depends on how quickly the seller wants to sell as much as condition, mileage and records. There are a number of used 348 to 360 Ferrari advertised in Vancouver that have been on the market for months. I have only seen one recent ad for a 308y, asking $89K https://vancouver.craigslist.ca/van/cto/6041101091.html I have no connection to the car or the seller and I have never seen the car at a show or on the road. While there are lots of Ferrari around Vancouver, most are much newer and probably reflect a different buyer than would be interested in 308 / 328 (might not even know what they are). My wild guess is that Cdn $50-65K would move the cars along quickly, but what do I know?

 

Interesting subject:

Recently Alfa motorsports (last summer) on Dundas had an '83 GTS with some 70K kms (IIRC) and the original ask was $95K CAD. They dropped it down quite a bit to $79K. Needed belts. I believe they sold it for around $75K with service (including belts). It went to someone in Western Canada. It was a reasonably nice driver, red on black but still needed a bit of TLC. It sat at the high prices for over a year, no bites. It might have even been two years, then finally sold at the greatly reduced price.

My friend bought his '85 GTS (also red on black) for $42K in 2015. Two owner car, 30K kms, always serviced at FoO - purchased privately.


I wanted to buy one (QV GTS), many I looked at weren't great. I can't see myself spending what everyone is asking now. But if the price is right for a decent driver, I would!!

 

Trouble is..this fellow is very influenced by what he sees on ebay and other sites. He sees asking prices, but not actual sold prices. Many of these listed cars end up selling for far less then asking. He seems serious in moving them, but I'm not so sure his assumed price point is real. I really shouldn't be worried about it, but he is a long time customer and someone I consider a good friend.

 

People can ask whatever they like...trust me 308's 2v are not moving in Canada for 80K cdn.
If someone wants to pay that kind of money for a 308 2v i have a few friends that would sell in a heart beat.If you can get 65K your doing good.

 

Carbed cars are 2V I'm sure you mean 2V injected cars.

Actually, I think Segal only got around $83K USD for a '77 GTB at Bonhams earlier this year. That is below what was expected.. The Magnum GTS, yikes.. It did quite well.

 

You want a carbed GTS for 80k CDN ?

 

When a decent driver was selling for $40-60, I was very interested - just didn't find the "one" I'd pull the trigger on. At $80K, I'm going to wait. Perhaps they won't come back down to pre-hype values (unless the economy tanks again like it did in 2008), but I'm sure they will come down. The upside is that they probably got better maintenance as a result of being worth more. For me, knowing that pre QV 308's have 35+ year old, heat cycled, fragile sodium exhaust valves means that I'd be pulling that motor which is something to consider in the purchase price. There are enough threads on "crap - valve damage" to kinda make you think belt service isn't the only thing you need to worry about!

Fek - I'm still kicking myself that in 2012, I looked at an '83 GTS w/100K kms in decent shape and a recent $9500 major from Rock's for $25K.. (originally was listed for $30K, but seller was motivated to move it quickly - probably needed the cash!) I did make an offer for $22,5 and he told me to eff off.. ha.. the interior was tired, bad re-dye. $25K.. *sigh* I figured I'd find something better for a bit more. Could have, would have.. you know the rest.. By the time I offered his $25K asking, the car was already sold to a guy in London Ontario I think.. (Dante B. was the previous owner - anyone know the car? has 16" RC on tan, UVIP had quite a few previous owners on it.. - in fact, Dante owned it twice!)


Anyway - recent article by Hagerty:

Hagerty Vehicle Ratings: Sports cars race to the Bottom 25 for April

"Chief among the losers are mid-engine malaise-era Ferraris, namely the*1975–85 Ferrari 308 and 1985–89 328 GTB and GTS. For a long time, these stylish, overlooked fellows represented affordable entry into Ferrari ownership. Then Boomers and Gen X collectors with some bucks caught on, and the Ferraris started appreciating. Now it seems that everybody who wanted one has gotten it, so activity has stalled, and these cool cars have cooled. They rate at 16 and 20, respectively."

https://www.hagerty.com/articles-videos/Articles/2017/03/30/hvr-april-2017-bottom-25



Not sure if this link will work, but here's the valuation tool on a 79 GTS..

https://www.hagerty.ca/apps/valuationtools/1979-Ferrari-308_GTS



Anyone local to Toronto might recall that there was a yellow on brown '78 at Segal with 11K miles - looked SUPER clean, but I'm sure all the rubber bits were dry as a bone.. anyway, in 2013 that thing had been sitting forever at $55K CAD.. heh, by Hagerty's values - today it would be worth $182K. I'd say that thing would have qualified for a condition 1, or at the very least #2. More importantly.. look at the trend, that curve is starting to point down.

$182,000

Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours."
#2 Excellent
$133,000

#3 Good
$81,200

#4 Fair
$52,000

 

The market has recently settled...no doubt. The question is where does it go from here? Nobody knows for sure. This is a recent article suggesting it is headed up:

https://news.classiccars.com/pick-day-1985-ferrari-308-gtsi-quattrovalvole/

From the article:
"Some of you may be thinking that the 308 craze of rising prices is over and that they could slide back to ”normal” and not climb any further. I say that is nonsense. The entire market has levered out a bit, and the Ferrari 308 cars are destined to trade for more than $100,000 on average, and not too long from now."


Waiting for prices to come down before purchasing a 308 could bring back memories of the people not too long ago that though it was ridiculous to pay $100,000 for a 246 Dino...so they were waiting for the prices to come back down. How did that work out?

 

Interesting perspective. Not sure that I agree on the 246 - 308 equivalency, if only because of numbers produced, but I am also old enough to remember seeing $2,500 250 PF's in the early 70's and $10K 246's as late as the mid-80's, so who knows where 308 values could go. The 308's might get a "Magnum boost" for buyers of a certain age, maybe someone now in their late 40's? I continue to enjoy my 328 for its visceral elegance (how's that for a description?) so the "real world pricing" is a moot point . . . at this time.

 

I doubt the car in that article has original paint - the louvres would be black on QVs.

 

Oh I agree that 308/328 values will never be near that of the 246...that was not my intent. I was trying to make the comparison that in the not too distant future the current 308 pricing may look like a bargain.

 

Agreed, 308/328 sales and pricing seem to have stalled, if not declined, from about a year ago and they are unlikely to go lower for those who wait. And, mileage might become less a limiting factor in 308/328 pricing and sales.

 

Generally, the fender/hood louvres on North American QVs were black, and on Euro QVs were body coloured, but exceptions did happen. My Euro QV in Rosso Corsa has black louvres from the factory, so differences did happen.

 

Thanks, Gordon! I didn't know that! Interesting!

 

Wouldn't you guys say that the car you would want, most other people would want, and therefore they would be worth more money at any time?

For example, not too many lusting after a 2V injected, but early carb cars or late QV, or last year 328, everyone looks for them, and uses them as a measuring point. Would you pay the same money for a perfect low mileage 2V, or would you rather have a QV with more mileage that is well serviced and in good order? I think the stalled pricing is an average of all the abused junk that has surfaced in light of the price increases. Good desirable cars, in good condition will always bring good money.

My opinion only. But my car was a compromise of all the above. 85 QV, not a B, but go find one under 100K US. My car is not perfect by any means, but the price was fair for what I got. In the end, what I put into it, I should recover "most", if I decide to sell. If it was a 2 valve, I might struggle, due to the abundance of them, and the lack of desirability amongst all of the 308 models.

For example, I would have paid a large premium for say an 85 GTB in black, if one was ever born that way, but passed on a super low production 2 valve GTB, that was in excellent condition, because I wouldn't have enjoyed it as much.

For the OP, if the cars are real nice, I would say the the cars are all in the the high $60's to mid $70's US.

Again, only my opinion

 

Another interesting thing about the new data is that the Condition #1 cars have only dropped $3,000 from their peak in 2016 while Condition #4 cars have dropped $4,000.

The price spread is now massive between #1 and #4 cars; 5 years ago it was minimal.

 

With the low Cdn Dollar, prices are going to stay high in Canada. Just not worth heading south with the crappy exchange rate and the extra duty. Wouldn't be surprised if folks from the States start shopping up here for Ferraris, and import them back south.

 

I could not agree more!
And parts are now more costly due to this

 

There is no such thing as 'real world pricing in Canada' because Canada imposes illegal taxes/duties on just about everything imaginable. You are forced to source stuff from limited suppliers. Paying $5000 for 'letters' etc. Paying double consumption taxes, illegal duties.

Canada border services treats anyone who shops outside of Canada as a terrorist and criminal. Ive never seen people get their shoes inspected for 'looking new' anywhere in the world until living in joke Canada.

Finally we are seeing a US crackdown on the criminal operation known as 'Canada' which is basically a old-boys anglosaxon racketeering organization pretending to be a country. Everything is a monopoly.

There is no way to tell what the market for old Ferraris is for Canada because of artificially limited sourcing and inside connections to the small dealer network. There is zero market depth.

This thread should be called 'Fantasy 308 pricing in Canada'.