Fair Market Value for a 348 Spider | FerrariChat
Buy

Fair Market Value for a 348 Spider

Discussion in '348/355' started by Jagbuff, Sep 26, 2007.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

Page 1 of 3
  1. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck
    #1 Jagbuff, Sep 26, 2007
    I am considering selling my 348 Spider in the next month or so as I am losing my storage space in Novemver and my wife thinks that 3 ferraris (2 of which rarely get driven) is not very reasonable. I have been keeping an eye on Ebay and prices range from $35K - $70K but it's hard to determine if any of the cars listed actually sell. Since folks here usually have bought their cars - I assume that no one stole it ;) - without sounding solicitous I would appreciate some input on a fair price that will allow for a quick sell (I do not want to deal with tire kickers).

    Here is a brief description:
    348 '94 Spider - great Rosso Corsa paint and Saddle - 38.5K miles - do not have records (vehicle was a lease) other than all the work (everything has been fixed and is up to date) done over the last year - needs nothing.
    Just completed extensive mechanical work including – Full 30K Belt Service, clutch work, brakes, water pump, alternator, A/C system conversion to R134a etc… Complete interior renovation, leather conditioning and redye, Alcantara insert on certain panels - Ferrari Carbon Fiber F40/ Serie Speciale seat in matching leather - New Ferrari Modular 18” wheels chromed by LA Chrome with new Michelin Sport tires - New X-Ost Maranello Stainless Steel performance exhaust and new metal matrix Catalytic Converter - Hill Engineering Aluminum Pedal covers and shifter knob - Upgrade Apline Stereo, tools, books and cover.

    What a good price?
     
  2. TheOnlyest

    TheOnlyest Formula 3

    Sep 25, 2007
    1,686
    Las Vegas Nevada, US
    Full Name:
    Steve
    #2 TheOnlyest, Sep 26, 2007
    I'm not excited about the chrome wheels... but i'm in the market, i'll give you $45K for it. Aside from having no history doc's on the car, the fact that it was a lease car is a big ding... leased exotic cars are often abused and improperly operated cars. apparently you're in CA somewhere, i'm in Vegas. My name is Steve, i'm not a dealer or anything, just a guy in the market for his 1st Ferrari. email me if you'd like to discuss further... [email protected]
     
  3. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    #3 BT, Sep 26, 2007
    Sorry to say, but $45-50k seems to be the quick sale price for a 348 spider. If you want to take some more time to sell it, maybe $55 or so in the spring. A few years ago the spiders were getting around $10-15k more than the ts models, but the gap has narrowed to around $5k based on the ads I've seen lately.
    :)
    BT
     
  4. wingfeather

    wingfeather F1 Rookie

    Feb 1, 2007
    3,653
    rock bottom
    #4 wingfeather, Sep 26, 2007
    Wow, I overpaid :(
     
  5. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    #5 BT, Sep 26, 2007
    The OP was asking what a quick price is for a (relatively) high mileage, previously leased, somewhat modified 348 spider. For a good, no story, good history, low milage, mostly original 348 spider I would think $60ish is probably the more common selling price, with some regional variation. The main thing is that you paid what you think is fair, or good. Someone here recently bought a nice black 348 spider for a little under $45k, and it was in good condition. But that was a real bargain.
    :)
    BT
     
  6. speedy_sam

    speedy_sam F1 Veteran

    Jul 13, 2004
    5,559
    TX
    Full Name:
    Sameer
    #6 speedy_sam, Sep 26, 2007
    Given the miles and the fact the car is in good condition and with all the additions I would say $60K. Per the recent Forza pricing estimate, the Spider prices range betwen $60-75K. I know someone who bought a Spider last March without the additions you have and with good service documentation with the most recent $30k about 2.5 years back for $56k. People will always try to steal it for less - like Husker ;) ;) :)

    If you can afford to wait then put a $60k price and hang on tight. Else put it up for $55k for a fire sale.

    Hope you have some photographic proof and parts bill if you did the 30K yourself.

    JMO
     
  7. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck
    #7 Jagbuff, Sep 26, 2007
    Yes the car repairs are fully documented with receipts for parts and all the goodies (probably $20K worth of bills over the last year), I would rate the car a strong 8.5/10 (10 being concour - all original). Everything has been gone through and made to look very nice, including custom carbon fiber heat shield cover to replace the ugly fiberglass one, leather covers to hide where the mouse trap seat belts used to be...etc.. I have been fixing it as I was going to keep it. Fortunately I don't need the money just the space - I could also put the 348 TS on sale and see which goes first...

    BTW, same question different car, what a '92 348TS, full records since 1994 w/ 55K miles, fresh belt service, original paint (7/10) but restored interior (9/10 - new dash parts and carpet), X-ost and Hyperflows, Challenge seat and 355 wheels and new tires worth? thoughts?
     
  8. Tomf-1

    Tomf-1 F1 Rookie

    Jan 17, 2004
    4,528
    Leawood KS/ South FL
    Full Name:
    Thomas
    #8 Tomf-1, Sep 26, 2007
    I am not so sure. One can get into a similar condition/miles 95 355 spider in the $60k to $65k range. With that said, I have always prefered the lines of the 348 spider over the 355 spider. Best of luck to you.
     
  9. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck
    #9 Jagbuff, Sep 26, 2007
    I appreciate the interest and will keep your contact information. Certainly, hrome wheels are definitely not to everyone's liking - Californians love them (even though I am in Texas - Austin :) ) I bought the Spider to replace the Porsche convertible that I had just sold, it is a great driver but almost attracts too much attention for my conservative nature, my daily driver is a 456M ingrid grigio that is almost as discreet as a Camry, so when I drive the 348 it's almost like I am putting on a show... which is why it doesn't get much use.
     
  10. TheOnlyest

    TheOnlyest Formula 3

    Sep 25, 2007
    1,686
    Las Vegas Nevada, US
    Full Name:
    Steve
    #10 TheOnlyest, Sep 26, 2007
    I would actually rather have a TS, so maybe we should talk! its ok that you're in Austin, there seems to be TONS of Ferrari's out there!
     
  11. TheOnlyest

    TheOnlyest Formula 3

    Sep 25, 2007
    1,686
    Las Vegas Nevada, US
    Full Name:
    Steve
    #11 TheOnlyest, Sep 26, 2007
    BTW, to chime in on the price issue... I passed on a black on black 1995 F355 Berlinetta a week ago for $47,500.
    An 8.5 out of 10, but it had 56K miles on it... but it did have the challenge rear panel and exhaust... very loud!
    Anyway, some of you may thing i'm nutz, but I prefer the look of the 348, and I dont want a Berlinetta.
    If it had been a '96 (with OBDII) I would have probably bought it.
    Everyone wants to think that thier car is worth a ton, but the bottom line is... ANYTHING is only worth what
    someone is willing to pay for it... even if it is a Ferrari.
     
  12. elgin328

    elgin328 Formula 3

    Apr 11, 2004
    1,034
    near Atlanta
    Full Name:
    Mark
    #12 elgin328, Sep 26, 2007
    Last edited by a moderator: Sep 7, 2017
  13. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
    western hemisphere
    #13 Husker, Sep 26, 2007
    Fair Market Value means different things to different people. If you're motivated to sell, it's a mid $40's car. If you can wait 6-8-10 months, it could be a low $50's car.
     
  14. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck
    #14 Jagbuff, Sep 26, 2007
    I agree with your latter comment although I don't consider myself not naive seller. I bought my three current Ferraris over the last year so I do have some perspective on what people are willing/ not willing to pay - but it's still a car and market demand drives price. Conversely there are a lot of first time buyers that are completely clueless about Ferrari ownership and compare two cars without understanding the downside of maintenance costs. Ferraris are closer to airplane ownership than typical cars - i.e. where hours to engine TBO matters more than condition of paint. To exemplify this, I sold another Ferrari a couple of years ago got offers as low as "$55K cash in hand" because people were comparing it to other "similar" cars, it went to a savvy buyer for $95K - still a good deal considering the engine was fresh.

    Naiveté existing on both sides and I would not to presume that your are nuts, however; if you found a Nero 355B for that price and condition it would be a immediate buy for me (is it still available, I'll trade you the 348 Spider for it in a heartbeat, personally prefer an ODBI car - less sensitive and easier to identify problems). If it is a 8.5/10 you should reconsider your decision as it is a bargain - there again we may be grading differently (for me a 5 is your typical car - looks good some wear may need some maintenance, an 8.5 is a excellent car with fresh maintenance needing nothing, 10 is the concourse time warp car with full documentation). If the 355 hasn't had a valve guide job, new manifold, new cats, new radiators, and full belt service and sticky parts replaced you are looking at a $25k minimum downside which would explain the cheap price - that in my book would be a 3-5/10 car at best.

    I don't want to sound condescending but there is no such thing as a bargain when it comes to Ferraris, people who sell them cheap usually can't affort to keep them, that has been true with every "exotic" car that falls in that transitional 15 yr age, not old enough to be a classic but cheap enough to compete on price with a well loaded Suburban, they get used up and thrown away once big maintenance bills pop up. In the $40k's you should get you a 348 spider with low ODO miles (which probably isn't real), pending belt service (plus other $urprise$), burnt out cats, dried leather and sticky interior. Things might have changed dramatically over the last 12 months but if an 8.5 point 348 spider goes for $40K, I'll buy another one just to convince my wife I am truly nuts about cars :) !
     
  15. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck
    #15 Jagbuff, Sep 26, 2007
    Last edited by a moderator: Sep 7, 2017
  16. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
    western hemisphere
    #16 Husker, Sep 26, 2007
    I don't think you'll have any trouble getting $40K. You should have it sold in a few days for that kind of jack.
     
  17. PizzaPrince

    PizzaPrince Karting

    May 11, 2007
    155
    New York
    Full Name:
    Giovanni
    #17 PizzaPrince, Sep 26, 2007
    pm sent
     
  18. notbostrom

    notbostrom Formula Junior

    May 8, 2006
    957
    Orlando, FL
    Full Name:
    Ben
    #18 notbostrom, Sep 26, 2007
    You couldn't pry my '95 348 with 14k miles from me for a penny less than $67500. I looked at no less than 20 cars and flew to 4 states before I found mine. An 8.5 car might go for 50-55 but if you want a 9 or 9.5 your well into the high 60's
     
  19. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
    western hemisphere
    #19 Husker, Sep 26, 2007
    Naaaaaaahhhhhhh.
     
  20. TheOnlyest

    TheOnlyest Formula 3

    Sep 25, 2007
    1,686
    Las Vegas Nevada, US
    Full Name:
    Steve
    #20 TheOnlyest, Sep 27, 2007
    Last edited by a moderator: Sep 7, 2017
    Ummm... i'm confused, but you didnt want my $45K ??
    BTW, Jag, my earlier post was in NO WAY directed at you or meant to be disrespectful, you have my deepest applogy if you took it that way.

    All bets are off anyway... This afternoon I locked down a deal to buy my very 1st Ferrari!!
    Its a 1991 348TS, Rosso Corsa/Saddle flawlessly maintained and maticulously documented.
    In simplest terms of a used 348, and based on what ive looked at lately, I give it an overall solid 9!
    I take delivery friday, noonish.

    PS. the F355 I spoke about was sold to some Armenian guy who totalled his last one. I didnt want to get into detail earlier, but the car
    had major issues waiting to happen... and the exhaust manifolds were only 2 of em. Too expensive of a risk for me to take. When I rated
    it a 8.5, that was based purely on appearance alone. When I went to see it, he refused to let me drive it! he offered to take me for a ride
    and tried to convince me that was enough for me to know the car was ''solid''! I declined ''the ride'' too. ''nobody drives my car but me'' he said!

    Anyway, this is my new baby!!!
    Image Unavailable, Please Login
    Image Unavailable, Please Login
     
  21. Houston348

    Houston348 Formula 3

    Oct 18, 2006
    2,297
    #21 Houston348, Sep 27, 2007
    $45K? lol... how about you just ask him to GIVE you the car?! :)
     
  22. Houston348

    Houston348 Formula 3

    Oct 18, 2006
    2,297
    #22 Houston348, Sep 27, 2007
    one of the nicest spiders i have seen.. very nice!
     
  23. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    #23 BT, Sep 27, 2007
    Last edited by a moderator: Sep 7, 2017
    That looks like my car! Red/tan 348ts with painted sills and chin spoiler. Black targa top. How many miles, recent servicing, and what was the price?
    Congrats!
    BT
    Image Unavailable, Please Login
     
  24. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    #24 BT, Sep 27, 2007
    Seeing the car I take back my 'modified' comment earlier. I know the 'first $40k takes it' is a joke. I was thinking that you had a tuner look car from the description you gave. Clearly it looks very well done. So, I think a relatively quick sale (in the next month) would be $53k and if you wait till spring you should get about $5k more. The only thing brinning it down is the miles. Looks great!
    :)
    BT
     
  25. VTChris

    VTChris F1 World Champ

    Aug 21, 2005
    13,259
    #25 VTChris, Sep 27, 2007
    Please don't sell it with those seats....

    If you have some rattier originals, sell it with them.

    PM me how much for the seats
     
Page 1 of 3

Share This Page