Beginning the hunt

High mile cars always take time to sell. Ferrari buyers are some of the biggest nit-pickers around so it will be a problem. But as the saying goes, there an A$$ for every seat, meaning even though it may take longer to sell there will be someone out there who will want it, it all depends on $. People who buy high mile ferrari's are usually veteran owners who know the value they are getting and know in the end miles don't really matter when you are behind the wheel. Buy it, enjoy it and if you move on it will be worth it.

 

Specialty cars are always easier to buy than they are to sell. This means that the right deal will come along if you can be patient and the market isn't in one of its crazy high-demand phases.

This car sounds like it has some nice aspects. An interior refresh is expensive. And blue is a great color on these cars. As you know, the vast majority of these cars are, well, you know what color. There are a lot of people who are specifically shopping for any color but that color. It can be a serious plus.

If you are concerned about miles, I would make an offer that reflects your concern. The seller can always reject or counter, and who knows? You may get that car at your price. And when it comes time for you to sell, you will be the one facing that same pressure--and it all comes out in the wash ultimately.

 

70K is fine.

NOTHING wrong with that and it helps you with the price. Pretend it is an area of concern.

70K miles on a 3X8 is nothing and do not allow anyone to make you believe otherwise.

 

I don’t think it matters unless you are buying something with ultra low miles and paying a premium for it and then feeling like you must preserve that aspect. In your case you’re just paying a normal price for a car with normal mileage, nothing to worry about, just drive it and enjoy.

 

This

 

Might be my limited knowledge of the market in general and particularly the US market, but that price for a nice, well kept car seems like a no-brainer to me...

 

It really boils down to this; do you want to buy one to drive and enjoy or do you want to buy one and look at it.

70K +/- rock dings and a few non-concours this and thats makes for GREAT fun at a GREAT price.

22K and all the tools and books = big fee and you are held prisoner by not using it like you want to.

There is no "wrong answer".

I bought mine with 57K 21 years ago. It has around 118K now and I use the tool kit so it is dirty and missing some things - in other words I have enjoyed mine to its fullest!

 

You found 328 that runs , has records, and only 70,000 miles for $42,500?

 

You need to snap that thing up. It's a driver, and they are fantastic cars. 70k miles is nothing.

 

Do a proper PPI so you know what the car needs. 30 year old cars can need suspension bushings, drive shaft boots, fuel hoses etc.

The mileage is not an issue. The car you are looking at is a drivers car not an investment. If its up to date on maintenance, its a $60,000 car all day.

Just know what you are buying. no surprises..

Good luck, they are awesomely fun cars

 

Good luck.

 

I had an 87 GTS with 15,000 miles on it when I bought it and felt "guilty" (irrational emotion I know) every time I drove it as if I was killing its value or eroding the mystique of a low miles time machine. My current 75 GT4 was bought with 65,000 miles (still only 1,500 per year!) and a few issues here and there - with this car I have no qualms about using it and really enjoy having a car I can drive and not care. I believe seasoned Ferrari buyers can fall into different camps based on their needs - and they understand the difference between a driver and a garage queen. Priced accordingly, there's a market for both.

 

At $42.5 your starting at a very very low entry fee. How much could it depreciate from that level ? Not much, I think. It’s probably worth more than that in parts. Get a PPI, make sure you don’t need a boatload in repairs, and if you don’t, buy it and have fun.

 

Oh, one other thing, Blue is fantastic.! I’m an anything but red guy.

 

Not my original line, but I'm going to give it to you because it's a great line! "Owning a Ferrari and not driving it is like saying I'm not going to have sex with my girl friend because I'm saving her for the next guy!"

 

The car sounds like a good deal and you shouldn't be afraid of those miles.

But, if you are concerned about resale value, you should make sure to buy a later 1988 328 (without ABS), less miles, and by any means red over tan. Anything else may take ages to sell.

 

Well, I belong to the "if it ain't' red, it ain't a Ferrari" crowd, but I agree totally re not worrying about mileage at this point assuming all else is in reasonable shape. I also sympathize with you effort to "scratch the itch." I bought my '89 328 in '08 with 24k miles on it and drove it on a 2 1/2 day 3000 mile trip two days after the first time I laid eyes on it! I put another 7k miles on it in the next two years. The last several years it got maybe 200 miles each year. And it has not been out of the storage garage in MD in nearly a year and I often contemplate selling it because...I scratched that itch. But it's an itch worth scratching!

I'm driving it from MD to TX next month so that will be some good exercise for it.

 

I’ve owned 11 ferrari. Sold 10. Only 4 were red. I had no problem selling non red cars. I even got a tremendous premium on a non red 430 Spider that I sold last summer.

 

I have 66,000+ miles on the clock of my 87 GTS and it is solid as a rock. You state the car has great records...pour over everything first but I'm thinking that car is a STEAL at that price. A local guy here just put up a red/black 87 GTS in very nice shape with 47,000 miles and is asking $ 72,000 and will probably get close to that amount.

 

$42.5K is a good price. If you don't love the car for what it is, buy something else.

 

Just buy it ,then drive it like you stole it!