348 Deprecation

There were too many built. They will never appreciate, except possibly even with inflation. 328's have not moved outside of a trading range around $40kUS since the late 90s. Same for 308s for even longer, but at a lower level.

 

Actually, this thread was pretty funny when it was about 348 deprecation.

 

dont say that , im hoping the numbers hold steady ..... you will jinx it !

how about the speciale series ? do you think they will be a better "investment"

 

I think the spiders should hold value pretty well, or at least longer. Just over 1,000 made in 94 and 95, and probably the best mechanical years of the car.

 

The 348's are through depreciating any appreciable amount (no pun intended). Historically, the depreciation cycle for 8 cylinder Ferraris flattens out almost completely after the car is 10 years old. The "speciale", in fairness, really wasn't all that speciale; a different tail light treatment, a slightly different paint scheme (color matched lower rockers), and a few interior differences.

But because the Speciale is so speciale to a select group of buyers, it will always command a solid $10K over the not-so-speciale 348's. Not because there are $10K more goodies to be had - there aren't - but because it's more "exclusive" - only 80-something made.

But back to depreciation: You can take your pick of the 8 cylinder Ferraris out there 308/328/348 - pick your poison; you likely will re-sell it for at least what you gave for it. The 355 has a few years to go before the same is true.

A fellow told me once: "Buy the Ferrari of your dreams...but only after it's 10-years old. It may well be the cheapest car you will ever own."

 

Well put!!!

 

To me it is funny to have this thread. I have never known anyone to profit from buying a Ferrari except for the short aberation in the 80's. More people lost money that made money even in these years. When you buy any Ferrari even if it does go up in value the money you spend maintaining it will be more than you ever get in appreciation. You would have to have a 45k 348 appreciate 3% this year just to pay for the rock bottom cheapest $1500 clutch job and many clutchs are twice that cost. Then factor in a major serive and new set of tires with no mechanical breakdowns and thats a 13% rise in appreciation this year. Cars are throw away toys...If you want an investment buy realestate or the DOW 30.

 

So true. But you can limit your exposure if that is what you are concerned about. You will spend money on maintenance, I have spent some during every year of my Ferrari ownership. I like to call this my "hobby expense". But when I sold the 348 to buy the 355 it cost me the registration and sales tax, nothing more.

I don't think that 348's will go much lower, lower prices will come more at the expense of miles and lack of service.

 

Hey now Fat Billy, I'm a fellow F-chatter, so you know me, right?

In 2001, I bought a 308, spent about $2K on it, drove it for 2 years, and cleared a tidy $6K profit. I can tell you this, I did a whole lot better on the 308 than I did in the stock market during that time period! Of course, that's not saying much, since I got my clock cleaned in the midst of the Nasdaq crash.

A Ferrari most certainly IS an investment. Maybe not a good one, but a darn fun one!

 

Didn't they make more 308s than 348s?

 

Who knows? But suffice to say that there is a definite limited supply of Ferraris of any make/model. When supply is limited, prices stay strong.

 

I predict in the next 10 years a well sorted 308 Carb car will fetch more than an equally well sorted 348. That will be the point to "invest" in a 348 because that will be the "bottom" for them. They will then appriciate but not a whole lot. The 355 will always be more expensive.

Ken

 

Wow. Now THAT's a bold prediction. So you predict that the 308 carb won't necessarily go UP, but that the 348 will tank. Hmmm. Hasn't shown any signs of tanking so far, but who knows, your crystal ball might be right. If so, it would be the FIRST time that a Ferrari's book value has slipped below 40-45 percent of its original MSRP.

Let me guess...you prefer the 308 carb'd?

 

I didn't say that. I think the carb 308 will creep up while the 348 has a little more down to it. I've seen things like that in the Lotus universe; a well sorted Europa TCS will fetch more than the first couple year's Esprits that replaced it.

Remember, I also said "well sorted". Such a 308 is in the $30's now. A comperable mileage 91 348 will fetch what? Low 40's? So they're close now.

I do like the 308 for looks better, but the 348 is a "better" car I think.

Ken

 

I'm staying out of this one.

 

I don't know of a well sorted 348 (w/fairly fresh 30K service) in the low $40's available right now. If you do, please email me, as I am always looking. The market for a well sorted 348 (w/fairly fresh 30K) is much nearer to $50K than $40K. And the market for a well sorted 308 carb is much nearer to $30K than $40K. So I figure, conservatively, a solid $15K premium for a 348 over a carb 308. Am I missing something?

 

No, your numbers seem reasonable. I'm not up on the early 348 market. I agree a good carb 308 is nearer to 30 than $40k, so today it's a $15k+ spread. I can see the carb cars going for $40k in the not too distant future, and a decent 348 going in the high 30's.

Ken

 

A decent 348 in the high 30k's...............Im not sure about that.

 

They exist, but they are higher mileage cars, 75k plus.

 

I didn't buy my 348 as an investment, and 99% don't. I'd expect to lose a little should i sell the car, but I won't. (this is not a poem by the way)

I believe that 348's are very unique. They have bottomed out, but because of their angular look, they have a certain quality and I believe this will have an impact on their appreciation. Look at the 308/328 series 20,000 made, whereas the 348, no more than 7,000 made versus the 355 10,000 made.

348's will ultimately creep up in value, probably at a faster rate than the 328/355. I believe they are now starting to attract better prices on the basis that all cars coming onto the market have been sorted and represent an execllent package