Factory Restoration of 1983 308GTS 45563 | Page 16 | FerrariChat

Factory Restoration of 1983 308GTS 45563

Discussion in '308/328' started by matteo, Jun 29, 2006.

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  1. darth550

    darth550 Six Time F1 World Champ
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    No, I wouldn't think the two have equal value either. What I said was that only certain people who, say, either owned their 308 from new or perhaps are restoring a 308 for a loved one who owned it from new (Specific cars that have extraordinarily sentimental value to these people alone) would go through the added expense to do this. I further stated that another, far less emotional buyer would more than likely NOT be willing to repay the premium that would be needed to move one of these upside down cars but would rather purchase a clean and sorted 308, which can be readily found here in the US....Especially after the certed 308 has had miles put on it and inevitably starts needing (merely mortal) parts again.

    Assuming labor rates are standard and reman parts are (somewhat) proportionally priced, I would ABSOLUTELY consider this a viable option for a truly rare, past model with a considerably higher market value. After all, what is 100-200(or even 400)K to restore a 80-90 point, 1.5-3MM, nearly irreplaceable car? I'll tell you what... It's a hell of a lot more justifiable premium to ask from a buyer than the 50-100K it took to restore a 30K 308....well, like you said, in real world dollars anyway. ;)

    Thank you for proving my point.
     
  2. matteo

    matteo F1 World Champ

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    The cost everyone is floating around are way off.

    Labor rate is $75-$80 USD.

    Cost for the entire redo of the interior is $7500.

    Rest of the things getting done, including the interior, will come in under $24000, almost 1/2 of what I paid for the car back in 2004 which was 39,900 from FoBH.

    The car is NOT getting a nut and bolt redo. It's being preserved and corrected and verifed correct. It still will not be a 100 point car. Those cars are over restored and would have never come from the factory like that.

    It amazes me that people that don't even have a ferrari let along the money to get so much as a hose replaced or a dash light fixed are discussing issues that don't involve them
     
  3. matteo

    matteo F1 World Champ

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    #378 matteo, Dec 8, 2006
    Last edited by a moderator: Sep 7, 2017
  4. BigTex

    BigTex Seven Time F1 World Champ
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    Not bad....on a later car that represents a smaller % of the value....

    Obviously I could buy an entire 3rd 1977 for that amount......

    Interesting......as a price point comparison ONLY, I was quoted $2,500 for an entire new white interior recently on my 25th Trans Am, locally....thru the Pontiac dealership.
     
  5. matteo

    matteo F1 World Champ

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    They recut the leather and stitch it in the same line that they use to make all the other cars to the original patterns. The cost is for the doors, seats, carpet, targa, rear deck, console and dash.
     
  6. ggjjr

    ggjjr Formula Junior

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    With respect to someone that does not have some intimate attachment with a particular car not being willing to pay a premium for it, I say that is ridiculous. It would seem completely plausible for a 308 that was restored by the factory to end up being auctioned at Barrett Jackson for silly money. I think that the first one to do this will make out handsomely. If I only had the time....

    George
     
  7. BigTex

    BigTex Seven Time F1 World Champ
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    You are absolutely correct on that point....actually ALL mechanical and cosmetic upkeep disappears into the book value of the car....

    You can only push the value back and forth between the high and the low parameters of the year model...

    Newly Painted and shiny: High number
    Whack a tree, blow a valve: Low number

    Buyers simply do not care and certainly will not pay for it.....
     
  8. BigTex

    BigTex Seven Time F1 World Champ
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    If you personally do not derive 100% value of the expenditure in your own satisfaction, I'd keep the wallet closed....

    I think that is the only way Matt can justify the expense, I doulbt he's trying to build a $80K retail value car and sell it, because he could not!
     
  9. matteo

    matteo F1 World Champ

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    I have no plans of selling. When it comes back or anytime soon after that.

    Just because someone thinks it's not worth it does not make it so.
     
  10. sjmst

    sjmst F1 Veteran
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    Enjoy the experience. I have THREE Italian cars, and I want all of them to be mint, so I totally understand. Anyone saying this does not make sense is like saying why have sex if you don't want a baby.
    You do it because you WANT to!
     
  11. BigTex

    BigTex Seven Time F1 World Champ
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    Combined with an extended vacation to watch Napolis run........priceless!
     
  12. wetpet

    wetpet F1 World Champ
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    but when the market thinks it's not worth it, it is so.
     
  13. blainewest

    blainewest Formula Junior

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    Voila! Illuminazione!
     
  14. darth550

    darth550 Six Time F1 World Champ
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  15. Glassman

    Glassman F1 World Champ
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    Settle down Darth, this won't be the first time somebody has tried to pull a fast one on F-Chat.
     
  16. ryalex

    ryalex Two Time F1 World Champ
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    I said on Page 2:

    Back from where? The consignment broker?

    So, are all of Matt's supporters going to concede?
     
  17. darth550

    darth550 Six Time F1 World Champ
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    Hey, Legal matters transcend internet squabbles..... This ain't cool....
     
  18. TexasMike

    TexasMike F1 World Champ

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    I've been thinking about this thread lately. I came here to check it out and things just happened to get very interesting today.

    Matt still owes me a drink. He said he was coming here two years ago and he'd buy the drinks.
    Matt, I want my drink!
     
  19. sherpa23

    sherpa23 F1 Veteran
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    Now I'm really confused...
     
  20. LetsJet

    LetsJet F1 Veteran
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    WTH are you guys talking about? It's like there is a back room on Fchat.......
     
  21. ryalex

    ryalex Two Time F1 World Champ
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    You know, at the time you were writing all of this in those posts ~300, I had to stop and reflect, "Holy crap, is Noah the last person with any sense around here?" And yet you continued to be attacked. I hope you feel validated by all this.

    LetsJet - See post 389, where Darth found Matt's 308, allegedly being restored in Italy (or being sent with no plans to sell it), for sale on eBay. In California. Then I noted that I said this is exactly what would happen, he would say he sent it off to cover for the fact that he was selling or sold the car.
     
  22. sherpa23

    sherpa23 F1 Veteran
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    Mike, it might have been sold on eBay when it was supposedly on its way down the bar to your hands...
     
  23. ^@#&

    ^@#& F1 World Champ
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    I'm gonna fall asleep with a smile on my face....
     
  24. CMY

    CMY F1 World Champ

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    #399 CMY, Jan 14, 2007
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    Damn Matt.. I really wanted to give you the benefit of the doubt here but I think it's time you seek professional help.
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  25. stugots

    stugots Formula Junior

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    So, um, I don't see the red binder listed on the Ebay ad...
     

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