Fair price for this Mondial?

Hello all. I have been a reader of this forum for quite some time, and seeing how I am condsidering my first Ferrari purchase, I guess its time to start posting! I'd like to get some opinions on the following car:

1981 Mondial 8, black/tan, 44,000 miles.

The Good: Runs and drives great. Starts right up, no smoke. All electricals work. Tires 75%. Steering nice and tight. No leaks. Good oil pressure. Interior is 8 on a scale of 10. Seats a little faded and worn, no tears or obvious damage. Carpet is good, a little matted on driver's floor mat. Dash and rest of interior in great shape.

The Bad: Needs complete major service done. Hasn't been serviced in 7-8 years, so I will want to replace water pump bearings, cam oil seals, plug wires, etc in addition to the belts. Has credit-card size rust bubble on bottom of driver's door, so will need repair. Hood is scratched, will likely need repainting. AC does not work (compressor is out of the car, don't know if it works or not.) No radio (just rev it higher instead, right?)

Currently negotiated price to $15,500. Do you think this is a fair price? Try to negotiate lower? Snap it up today? Thanks for the help guys, love the forum!!

 

It sounds like a pretty solid car that needs about $5k worth of work. If you're prepared to drop the cash on repairs, it's probably a market correct deal.

 

Hey Jeebs, welcome aboard.

Here's the responses you're going to get:

1) "Fill out your profile!"

2) "Did you search on that?"

3) "A Mondial 8? Are you nuts? Get a T"

FWIW, a friend of mine is also looking for a Mondial 8 coupe. You'll be at 20+ by the time you get all the work done, so maybe you want to think about looking at coupes with services/ect in that range. On the other hand, having a service done when you buy the car isn't a bad idea, and at least you'll know what has been done and by whom.

Here's a thread or two you might want to read:
Mondial experts -- an opinion please
Mondial Value: Major or Not?


Black is the best color for that car, hides the bumpers. AC is kinda pricy to fix with stock stuff, but can be converted to a more modern compressor and coolant for a couple grand tops.

Personally, I'd buy it, if you like it. At that price, you can always get back out of the car in a hurry if you end up hating it.

You may not have noticed, but there's a special section on here for classics like the Mondial. I'm going to move the thread to that section so that the experts can comment.

Welcome to Fchat

 

It sound like a solid buy to me.

I think you have gotten the car to a excellent price point.

Keep in mind that you can do a few of the items on your list as you drive & enjoy the car. I think you could do the maintenance 1st, then work on getting the paint & body details up to your standards as you put miles on & live the Ferrari life style.

You will really luv the Mondial series.

 

You don't give your location, but if the emission stuff is missing I'd discount further -- a lot if you are subject to testing, maybe less if not (but still not zero).

 

Thanks for the lightning-quick responses! I'm working on the profile, should be done in a few mins. I have searched about a ton of mondial/308 stuff, I just wanted opinions on this specific car since I am considering buying it.

I was wondering how much trouble it would be to convert to a more modern and efficient AC system. Glad to hear it is possible. I live in Florida, so I definately need it here! I like black the best on these cars as well, those bumpers stick out too much otherwise.

As far as it being an "anemic" 8, I know I know! I have been looking at all the "inexpensive" Ferraris while considering this purchase (GT4, 400/412, 308, Mondial), and I realize the Mondial 8 is the slowest. One thing I should have mentioned is that I will be doing all the work myself, so I will only be in for parts costs as far as the repairs go. Thats what attracted me to this car, something that seemed a little cheaper because of some minor work needing to be done. If I just hate it I would still probably (hopefully!) come out ok if I decided to sell it and buy a GT4 or whatever instead. Plus I will have some money left over from what I've budgeted to spend on other cars/hobbies/tools or whatever. I have always liked the design of the Mondials a lot. But of course the T would always be nicer!

 

I can't recall if it is there or not....I will have to go back and have a look. Its not tested here where I live, but of course it will hurt value if I ever sell it to someone who needs it. Thanks for the reminder!

 

15,500 is the TOPS you should pay for that car IF you pay 5,000 for the major it needs. The A/C fix, prob. another 1,500, if you pay someone to do.
Check the windows and sunroof, to make sure they work.
Check all electrics, including that the trunk, hood, engine compartment and gas cap pop up/open.
Black is a good color for that car.
Now, if you are doing the work yourself, it becomes a really nice buy.
If you can go about 8-10,000 more, get a qv (83-85) and if can go to 29,000, there is a nice (but high mileage) 3.2 (best buy) in Ferrari ads.
Good luck!

 

Jeebs,
Congratulations on having good taste!

If the AC compressor is already out, you are halfway done with the effort in doing the timing belts. The AC compressor is the big obstacle in getting to the belts.

The AC is not expensive at all to fix. The compressor is an inexpensive York style compressor. They are pretty tough. Most likely the shaft seal gave out. You can rebuild it yourself in a couple hours with parts from NAPA. Drain the oil and refill with R143a compatible oil. Reinstall and have the system evacuated and refilled with R134a (and replace the drier). Done. The AC shouldn't cost you more than a couple hundred bucks and it will work fine. When the AC systems on these are properly filled (even with ozone friendly R134a), they work just fine.

The Mondial 8 is "slow" by Ferrari standards but not by car standards. It's a perfectly peppy car, fun, great handling and has a horsie on the back. You might be slower than a WRX, but you have way more style!

The fuel injection on the Mondial is very reliable. It will always start right up and get you where you're going. It is a fun car because you can take the whole family in it and put a baby seat in the back too. The Mondial is a great car, both practical and thrilling at the same time.

The price you have is in the ballpark. I think it's a tad high considering the cosmetics you have mentioned (i.e. the rust mostly) and the lack of service, but certainly not THAT high. If you can do the work yourself, changing the belts will cost a couple hundred, fixing the AC a couple hundred. If you farm out the body work, it shouldn't be more than a grand. DO NOT skip doing the timing belts though. Do them immediately. It's not that they are particularly fragile, but you don't know how old they are, and if one breaks the results are catastrophic, so it's not worth taking the chance.

Check that all the weird electricals work. These cars are known for flaky fuseboxes and everything on the thing is electric (i.e. solenoids to open the bonnet, boot, gas cap, glove box, etc.)

Birdman

 

I like some of the old threads, above, the $15K Mondial!

 

What is interesting to me is in those days, injected 308s were similarly priced with Mondials. You could pick and choose what you wanted. Today, asking prices for those same 308s are close to six figures with QVs and early Carb 308s often well above that! Clearly, Mondials moved up too, but haven't really kept the same pace with the 308s.

Also interesting is back then, no official Ferrari dealer would think of touching a 308 or Mondial as there was no profit to be had. Times change...

Bottom line: Today, a well sorted Mondial is an unbelievable value!

 

This one shocked me to no end, 20 years past due on a major fetched $86K! Are BAT bidders that crazy these days?

Euro 1985 Ferrari 308 GTS Quattrovalvole for sale on BaT Auctions - sold for $86,000 on September 2, 2024 (Lot #161,071) | Bring a Trailer

 

Well, if it made it this far. Suppose who cares if it's 5 years overdue, or 20. I'm sure upon purchase they'll do the service. At least there is a certaon honesty in the seller, I suppose. Pretty good, though!

 

IDK, that's $100K+ going in, maybe $110K.

 

Rob, perhaps it's not "most", but this is a sample of what I'm seeing advertised today:

Ferrari of Long Island has a black 328 for sale. Asking $149.9k. Recently had another 328, red/tan. Same price.
Autosport Designs has a 1984 308QV for sale at $129.5k.
Dealer in Michigan has a 1984 308QV listed at $133.7k.
Marshall Goldman has a 1980 308 GTS for $95.9k. That's an injected 308, not Carbed!!
Dealer also near me in NY has a 1987 328 GTS. Asking $164.9k.

 

For sure, dealers are always charging a premium. Not disagreeing with you, but even on BAT as shown in the chart, some of these are still selling just below or a bit over $100k. And yes, mint Concours winners will always take a premium over others. Just not understanding some of these "asks". Especially those injected 308s. Crazy...