Help me out guys, I found a F355 Spider I'm interested in. 1997 F355 Spider RED/TAN 6-SPD with 16,135 miles. Everything is almost bone stock except for the following info I was given. Latest History: Last 30K service performed 2yrs ago and has receipts showing $6,250.00 Also replaced CV BOOTS, Battery upgrade, and Four New BFG Tires. Extras Installed/upgraded: 1. Level II Capristo Exhaust system with Test Pipes(Cats also included with sale) 2. New Headers replaced recently From NA Perf. 3. Black Challenge grille with Horse in center 4. Ferrari Badges(not originals) 5. Alpine CD Radio CD-9856 model Whats it really worth ?
Sounds like a nicely sorted car. If all else is in great condition--outside, inside, etc. I'd say a ballpark of around $85k---give or take a few k!!! The 99's are still up near 100k or a little less.
If this particular car is in Cincinnati area - I know the car well and it is awesome. If it is not the car in Cincinnati - I know one identical to this one that is for sale by an F-chat owner and it is excellent all around. PM me if you want some more info or assistance if you are searching for a 355 spider and want more info on this one. Rich Wallace F-Chat Consultant
I haven't performed a PPI, but I'm not quite certain if a PPI will reveal valve guide issue or when one will occur. I'm more worried about when it will happen then anything. The fix is around $16K and a 4-6 week turn around. I've seen the one in Ohio via F-Ads. Looks well sorted out except the 30K was performed 2yrs ago which means 60% of the 30K service has been used up and it will require yet another 30K within 12 months(3yrs recommendation from FNA). Again I'm going by recommendations and not by how long we can make the buck stretch by not performing a proper tune up. At the given price of $90K and avg 30K tune up of $6500 were lookin at $96.5K. $6500 is very low for 30K service, the majority is around $8500 with a few findings after engine removal and with full hose replacement were at $10K easily! To put things in order, I'd say a properly priced 1997-98 red/tan F355 Spider 6spd should be in the $82-$84K with aftermarket headers/cats/exhaust and requiring a 30K service. At $90K it should already have the above mentioned plus 30K recently completed. Those prices are about avg and by next year when the F430 comes down, the 360's will be more affordable then ever and the F355 will go down in price. Don't believe me? Look at most of the 1995, they are already in $60K range with a recent 30K performed.
Correction: Add $2K-$3K if it has ALL records. This is rare though, I can't find a car with all records to save my soul!
yes, that is my spider you are talking about I believe... except the BFG tires ( I have Kumho's on mine...) weird... Anyway, Rich is the resident expert when it comes to 355's as he guided me along the way when I was looking. gordon
You qualified it "well sorted", if a car doesn't have all the records I won't get on an airplane to go out and look at it. I must admit I didn't see (only pics)either one of the two vehicles for $75k (final, won't go less price) becuase of records issue. Both '97 cars have less than 20k miles and one is a spider and the other a berlinetta model. How a low mileage car can have 4-5 owners and the first two are unknown is beyond me.
I know Gordon and Jack at NJB Automotive who did alot of work on his car. When Gordon bought his car, it needed a little bit of work, unlike some people I deal with that try to skimp on everything and go the cheapest route when I quoted Gordon he wasn't that type of person. Gordon has alot of money into this car to prevent future problems such as the headers and fairly recent service. I would put this car in the mid 80's range personally. It also seems other f-chatters are vouching for this car, good luck in your hunt.
It seems in todays times, thats "well sorted." Once it exchanges many owners, records are lost and thats where the problems starts. The 2nd and 3rd owners have a tough time trying to unload with such low miles and service record issues. Sometimes records are fabricated just to "fill-in" the gaps. This is very very common. The only true record is the one that has a Vin number associated with each fix(usually dealers and initial sales), after that its all up in the air. Alot of F355 for sale are asking upward $85-$90K with 30K service near or past due. Thats scary. On the other hand, if the Headers and Cats are replaced with aftermarket parts, this helps in resale assurance and will most likely help in recouping some of the costs. But the majority of the problems end up with sellers wanting much more, with gaps in records and maintenance requirements. Some are better then others but most will require something(and its always something expensive). As with 97 or 98 F355 Spiders(red/tan), your left to buy a decent one for about $72-$74K, put in $7800 in exhaust pipes, cats, headers and your ride will be 60% safe from cracked pipes. Put in another $6500 which will get you a fresh 30K and now youre in the $87K-$89K. All thats left is a challenge grille, radio, and your done. The small stuff like Tires, badges, painted brakes, won't add a significant value, if not give aways.
Now that you are up to $90K, you might as well wait until the winter to buy a '99 360 for the mid-90s. It may not be a spider but it will be a more reliable car that doesn't share the same maintenance issues the 355 does. So where do you draw the line???
The F360's coupes are already coming down in price. Heck I've seen a few for sale in the $118K with just 25K miles. By spring of 2007, I can easily see 360 coupes selling for $110K, 360-spiders $162K, F430 coupe $189K. It'll be a while for the F430 Spiders to go down in price, but once that happens, 360 spiders will easily be acquired. I digress. I've yet to see a really well sorted out F355 Spider. Almost every example high and low needs something and it’s usually expensive. You typically see some with exhaust and cats replaced, but lacking 30K service or 30K recently performed with stock exhaust/cats. Since I'm starting out fresh, I'm aiming for a 97-98 F355 Spider 10-15K, near mint condition(no sticky buttons, dash shrinking), service records with minimal gaps to be in the $74K-$77K. If it includes aftermarket Exhaust and Cats you’re in the $79K-$83K. If a recent 30K was performed, I'd jump on it for $87K. Those with new tires, challenge grille, badges etc add a little resale value, maybe $1,500 tops. Exotic Dealerships out here are already seeing low sales for most F355 and by the end of 2006, beginning 2007 a line will finally be drawn for the F355 spiders to keep them in the low 80's with most things up to date(exhaust, cats, recent 30K). F355 Coupes will be low $60K. Anything in the $90K-$95K will mostly be exclusive- i.e 1999 F1, rare color combos, low miles.
