Has 328 price hit a new low?

Never had great luck with that either. Only way I ever managed to make any money was to have a job! I did briefly consider buying some stock in Apple back when it was 5 bucks a share but decided that was a stupid waste of money! Like I said, never had much luck in stocks!

 

Zeus, there is the issue of License & Insurance, too! I think investing in the fun of it is the only way to make any sense of "Fancy Cars."

 

Anyone notice this?

GT
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I agree 100%. I've never owned a "fancy" car that made sense as an investment. I buy them to drive them. You only live once.

 

Yeah, when they were at $ 5 I knew that it would make money but I didn't have two pennies to rub together.

Lester

 

There is nothing more expensive than a cheap vintage car, especially Ferraris!

 

2 Years? Holy frack, were they growing the cows behind the shop?

 

One owner's experience: Yesterday I put on my mask and took the 87 GTS down for annual state inspection at the local garage (my terrific mechanic doesn't have an inspection license). The guy looked at me and my car, did not make me pull it into the service bay, asked me the mileage, never asked for or looked at another thing, certified the inspection and I was out of there in 10 minutes, but not before every other guy in the garage came out, looked at the car and got my OK to snap pictures. My 328, with almost 70,000 miles, is solid as a rock and as beautiful as they come. I can't imagine ever selling it. I did not purchase the car (over 10 years ago) to make money on it, to fret about its year to year value, or to impress anybody. I bought it to drive it and to admire its beauty. Amen.

 

I have had a similar experience with inspection. I have had them inspect my car and not even charge me. Its only about $5 here in Texas for safety inspection.

 

Did you look at the service invoice? Dated from 2015 yet paid in 2017 looks sketchy to me. Also, anyone considering purchasing one of these needs to have a pre-purchase inspection done. Then you have a sense of what you are getting into. These vintage Ferraris are not cheap to maintain. The belt service done every couple of years are brutal in terms of labor costs.

 

Having looked at their offerings many times, I find this to be correct. Drivers.

 

… but costs $80 if you do it yourself.

 

Just from photos one can tell this has problems, several common to 328s. Seats covers baggy and likely redone, battery cover missing, front undertray missing, door seal ripped, antenna partially up means electric antenna likely inoperative. Not good signs of a cared-for automobile.

 

I'll wager 3X8 prices will be well below 50K for a very nice one soon enough. Once the availability of cars exceeds the demands of buyers, then prices drop quickly.
Have you seen how long 3X8s are on 'for sale' adverts for at the moment? Months and months.
Speaking as someone who sold a very nice 308GTB for £22K about 15 years ago.... I sold it as it needed about 5K in bodywork and potentially an engine rebuild ... it smoked a little (was told to budget 10K) .... I was a perfectionist and wanted a concours car. I couldn't see it would EVER recover 15K spent on it. That car sold several years ago, untouched, for £65K. So the market goes up, and the market comes down.
When they're back well under 50K I'll be back in the market for one.

 

I don’t foresee you being in the market for one Stuart.
At least not one that doesn’t have a lot of issues at “well under 50k”
I could be wrong though. I’m sure others more market savvy that me can chime in.

 

Just want to point out his 50k (pounds) is close to USD65k. I agree with you and don’t see a good one coming out in the US for “well under” 65k dollars anymore.


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And furthermore, well...ahummmm; not every couple of years, is it? I thought the whole forum agreed it is every five years nowadays....
Well, I'll admit it: guilty of baiting!

Rgds

 

My friend bought this in 2017 and I strongly advised him not to. He stashed it in my detached garage and I helped him start working on it as it had a seized water pump. He got busy with work and progress was slow and he passed unexpectedly last July. It was time for the bank to come get it but I wasn't ready to let it go and negotiated a price I could stomach. It doesn't appear to have any rust in the important places. I will be doing everything myself. I will have to send things out to be redone like CIS, plating of things, powder coating things, etc. It will be a long term project and I am going to start back on it this weekend. I have another thread about it.

This was the BHCC ad for it:
https://www.beverlyhillscarclub.com/1987-ferrari-328-gts-c-6637.htm

While it isn't mint, it isn't in as bad of condition as I thought. The first thing I need to do is replace drive pulleys. Those appear to be the worst part of the car as they have rusted pretty bad. Bad enough that I wouldn't trust them to not jump a rusted a$$ tooth. I think it looks to be in better condition than the subject of this thread.

 

Crixer, sincere condolences for the loss of your friend. Sounds like you two had a special bond. Now get that machine running and take it for a spin in honor of this gentleman.

 

Sorry about friend. The car is beautiful in that color.


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Crixer, Sorry for your friend. It's look like pretty rare Blu Chiaro, I looked for it ( in Europe ) and missed one few months ago. Do you know what happened to this 24k miles car to be in this bad condition ?

 

I think you got it "for a song" so a double discount, as it were.

 

Thanks everyone. I have a thread about it, I am about to start updating it. Parts are on the way and I am about to get to work on it. I will be happy if it at least cranks. I don't know what happened to the car. I am in the process of tracking down previous owners and information. I think I did get it for a song but the purchase price is just the admission ticket to the financial horror show. Since purchasing it, I have spent 1200 dollars in just seals, gaskets, washers, odds and ends, new battery tray, etc. I spent the weekend cleaning the carpets.