Mileage price deduction for 328's

It's subjective, because a phenomenal 30K mile car would bring a better price than a tired and neglected 18K mile car.

But in general 20K, 30K and 50K are significant, IMO. (Below 10K you have essentially pieces of furniture that will cost a lot to buy and also depreciate off a cliff if you actually drive them.)

The sweet spot, I think, is about 20K miles. You don't pay a big premium for obsessively low miles. You get a car that has actually been driven over the last 20 years. And if you decide to sell it in a few years it will likely still be under 30K miles.

Anything near or over 50K miles is going to take a big hit on price. All other things being equal (which they almost never are...), I could see a $10K difference between a 20K-mile cherry and a 50K-mile cherry.

My advice would be to avoid the pieces of furniture (like the 380-mile black/black 328 GTS that keeps popping up for sale), because you will be a miserable odometer slave and pay a premium. If you plan to drive the snot out of the car, a 40K+ mile car won't depreciate much more and may be a good deal.

 

I don't really think there are break points. For instance, a car with 30K on it is not worth 5000. less than a car with 29K on it. From 10K to 50K, the difference in value is roughly 50 cents/mile all other factors being equal. When buying a 328, or any other Ferrari for that matter, condition and history should be uppermost in your mind. I have seen pristine cars with 30K and one or two owners and some pretty ratty 30K cars usually with many owenrs. Even low mileage cars can neglected, left out in the sun and indifferently maintained.

Dave

 

If we ever go the way of the Dino then we will see 150,000 mile 328s that are being stripped and rebuilt as new and selling for retail.. I hope that day comes. JJ

 

Odometers sometimes lie. Be careful.

 

As a minor hijack, would the same logic essentially apply for a 308, or are the markets dissimilar? It would seem to me that many potential buyers would consider both the 308 QV and 328 as options, although they might lean one way or the other.

-Paul

 

The 308s have different 'sub-models' that make it difficult to compare them. Basically, all 328s are the same with regard to power and design. The early cars have the attractive concave wheels, the late cars have the improved suspension mods, but overall you just want the best 328 you can find.

For 308s, there are the '76 fibreglass cars that are scarcer. Then come the carb'ed cars, kind of a specialized niche. Then the somewhat unloved early injected cars. '83 is the start of the QVs, true dual exhaust, but no rustrproofing. Then comes the '84-'85 run which was the best sorted of the lot.

Within a 'sub-model', the above caveats Hardtop mentioned still come into play. Low mileage cars that have been beat up by sun, salt air or inattentive owners aren't as good a 'deal' as a 30K-mile car that has been properly cared for and stored indoors.

FWIW, there seems to be about a $10K jump from a decent 308 QV to a decent 328. The overlap might come between a high-mile 328 and a cherry 308 QV. But these cars are all old, and there are so many variables I wouldn't say there's a neat formula for miles/price.

I would venture that, as of 2007, '80s Ferraris with over 50K miles have a sort of 'high-mileage' cloud hanging over them in the market. You can argue about whether it's 'fair' or stupid, but it's real.

 

That's why there are so many speedometer sending units out there that are "accidentally" disconnected.

 

Condition and proper maitainance is everything. I've seen many 328s thru judging and sometimes I cannot believe how beat up some cars are with so few miles. My car has 53,000 miles and just had the major service done and is a 98 point national concours condition. I dont know what other people would think, but I wouldnt take any price deduction becaude of miles. And if you want to actually use it, a car that has been regularly driven is better.

Dan

 

Buy the best car you can irrespective of the mileage.

As with any car, the a higher miles Ferrari that is clean throughout indicates a vehicle that has been reliable, loved, cared for and enjoyed.

(Says the guy with a 85,000 mile 328 GTS.)

I would suggest not paying a premium for a 15K miles car. Buy a 50K+ mile car that is clean as a whistle.

 

Sometimes?

LOL!

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I generally agree with this but I have a twist on the whole mileage thing.

(Says the guy with a 17,000 mile 328 GTB.)

The number of miles a buyer puts on the car per year affects this whole discussion. 500 (low), 1000 (kind of low, could be up to 1500 and not be considered high, 2000 (average), 5000 (high). IMO there is no wrong yearly mileage but when buying, the car with the right amount of mileage to begin with, should be considered when buying. Compare these two scenarios:

Low Miles Car-High Mileage Buyer
<20,000 miles
If you plan on driving 4000 miles per year in 10 years your car would have <60,000 miles.

Med/High Miles Car-Med Mileage Buyer
40,000 miles
If you plan on driving 2000 miles per year in 10 years your car would have 60,000 miles.

All things being equal, when the two are compared, the car with the fewer miles will command a premium. At this point the premium has been whittled away but if the person who wants to drive a lot yet have a relatively low mileage car compared to the competition, he should look for a low mileage car.

Of course, if he doesn't care, just get a car with 50,000 miles, add 50,000 miles in 10 years and forget about market value. A 100,000 mile 3 series Ferrari on the open market will fetch about $20,000 I think.

That's why I think someone who wants to put more than the average mileage rate would be better off buying a low mileage car even with the "low miles" price premium. If that driver stays above but close to the average miles driven by the Ferrari world (I know, kind of a nebulous number) then he will always have a relatively low mileage car.

The exact opposite happens when someone wants a garage queen. One option is a "create" a garage queen by finding a medium mileage car (35,000 miles) then drive it ~500 miles/yr. In 10 years it will be at 40,000 miles. In that 10 years most models will be approaching 55,000 miles if they start at 35,000 miles and drive 2000 miles/year.

These numbers are kind of broad and my purpose was to shake up the establishment on what the best mileage car is.

That's a strategy that usually can't be beat.

-F

 

I acquired my GTB six years ago w/ 22,500 miles. It now has 29,200 (I drive the car all year, weather permitting) and, having benefitted from excellent service prior to and during my ownership, as well as my obsessive cleaning and detailing (multiple Platinum awards), it is a much better car in all aspects now with higher mileage than it was when I first bought it. So I would say condition and proper service enhance value more than mileage decreases value...

 

I bought my Euro GTS QV 7 years ago with 22,500 miles on it. It just turned 40,000 2 weeks ago. It's definitely in better shape than when I bought it. I paid in the mid 30s then and believe it would go for more today.

 

Drive it till it has 140,000 miles on it and rebuild the engine and give it a new 20,000 dollar paint job. Then hopefully the car will be worth 3 times todays value... I really hope....