is a perfect '98 355b with 15k mi plus all service records worth $86,000?

car is blk/blk. 6sp--no special options--very clean -- seviced at dealer including 15k biggie

 

Not even close. In this weeks FML there are several 355GTB cars listed that sold at the Barrett-Jackson and RM auctions for less than that even with all the hype of the auctions.

 

when did it have its major done?

doody.

 

The 15K is the little-ie; the 30K is the biggie.

 

Yep. Wait till the cam belt change is due!!

But isn't it 30,000km or 3 years, whichever comes first. It's a '98 car so perhaps it's done the cam belt change.

 

I don't think that $86K is all that high of a price, as long as it has the 15K service and passes a PPI with flying colors. Everyone keeps saying that pricing on the 355 has dropped considerably, but I haven't seen it. Ok, every so often you hear about someone getting a great deal, like a '98 F355 F1 Berlinetta with 10K miles for $75K, but for the most part these cars seem to sell in the $80K range. I am currently looking around for a 1999 F355 F1 Berlinetta in either red (rosso corsa), silver, titanium, or dark blue with a reasonable amount of mileage (no garage queens and no abused cars), excellent condition, and up-to-date service. I haven't had much luck below the $85K-$95K range. Most people still want an arm and a leg for the good cars and aren't willing to budge on their asking prices. Anyway, like I said I don't think $86K is unreasonable as long as it is a great car. Try offering $80K and see what happens. Good luck and post pics if you end up buying it.

 

The rule on the belts is 30K miles or 5-7 years. A '98 should have this service done if it just went in for a 15K service. If so, the price is a little high, but not terribly out of the ballpark. A 15K service with belt change will probably run about $7,500 at a dealer, maybe as low as $4,500 - $5,000 at an independent. This assumes nothing else gets done while the engine is out. Check the records on the recent service and see how much they did. If the belts were done, the engine resealed, and the compression check was good I would take this car over a $75K GTB with original belts any day of the week.

 

conventional wisdom on the 355 major service is every 30,000 miles or 5 years, whichever comes first.

figure five large to be safe, though it can be done for less. but if they find problems it'll be more.

$86K for a '98 15K mile GTB without its major done (it's past due now) is not a great deal, IMO. have them include the major plus extras and commit to warranty it for 90 days or so and that price isn't out of line.

doody.

 

You guys seem to have different factory recommendations.

Our dealer specifically state that factory recommendations for cam belt change is 30,000km or 3 years and we all adhere to that.

Man, that's a lot of difference from you guys in the US.

 

in the US, there was a time period where "time" was not a part of the service schedule of f-cars (i think all of them). apparently it is "back" in the manuals now.

the 355 was in this "vaccuum" of knowledge and there were apparently never published "time" intervals by FNA. my understanding is that outside the USA, the manuals stipulated time. the manuals have always stipulated 30,000 miles.

so during this zero-data period, the general consensus seemed to develop at five years. this is definitely a "conventional wisdom" number, not a hardfast detail. though i have yet to find a NA dealer who disputes that this is a "reasonable" number, and plenty of owners suggest longer is fine. the belts are reinforced, etc. etc. - though if it goes, mama mia!

the current cars apparently stipulate 30K miles or 3 years. at least one NA shop i've talked to consider three years rather excessive, BUT if you want the newfangled pre-owned FNA warranty, them's the breaks. maybe it's worth it. maybe it's not - only you can decide.

fwiw,
doody.

 

Could anyone care to post a copy of the Factory recommendation? It would be a great help.

 

if you go to the owners site you can download every recent owners manual produced - for all regions.

doody.

 

thanks for the quick replies!! the activity on this board is awesome!!

i should have been more specific that the service DID include a cam belt change at a major dealership.

knowing that, does anyone think that i should offer more than $80k? the owner is well known and respected in the local ferrari club. he's selling because he just bought a '99 550 in his favorite color -- red. for a daily driver i frankly prefer black or silver.

 

I respectfully disagree with some here that suggest this not a good buy. Here's what I see:

(1) Fully serviced car, with little-or no mileage since servicing
(2) Low absolute mileage
(3) Resaleable exterior/interior color scheme
(4) "very clean"
(5) Was maintained by, and is being sold by, a respected Ferrari Club member
(6) 1998 model year

As somebody who has been in the market for some time for a 355B, and recently took the plunge, I would say that this is a very attractive price for the car with the characteristics as noted above.

Let's work backwards for a sec: most 20K-30K mileage 1995 GTB Ferrari's are being transacted between $65K - $75K these days. Not bid/ask, but actually being transacted. I would say a good '95 GTB with essentially the same characteristics as your car, should go for about $72K - $75K. Assuming $4K - $5K depreciation for the car between years, ceterus paribus, it is entirely reasonable to suggest that a high-quality/low mileage 1998 model will go for about $85K. The lowest I have seen a 1998 go for recently was one that was being offered for $81.5K, and that was because the owner needed to sell, for liquidity reasons. The car in question had a strong service history, but the last time the car was in the shop was a year ago, and I think the mileage was double yours.

Put another way, if you get the car for $80, consider it a steal, however I would be amazed if it transacted for that. There is obviously room for some negotiation, but I think the seller has put a fair ask for it. Good luck with it.

 

thanks ghost--i'll keep the group informed

 

$80K MAX, period.

Plenty of well maintained 355s on the market right now, some from F-chatters as a matter of fact.

If it hadn't had the 30k service I'd have said $75k max. Sounds like a good car, grind him on price.

 

Ignacio:

This isn't Dave Wilson, is it? He just got a red '99 550 after drivign mine (like a bat out of hell!). But his 355 is a green/tan spider?

--Dan

 

ignacio - if it's had a FULL MAJOR SERVICE (which is a lot more than just a belt) the price is not out of line. if it has not had its full major service negotiate down.

doody.

 

Sounds just a bit high to me. I purchased my '96 355 GTS, Red/Tan, 10K miles, very clean, well documented, tubi, centerline wheels, etc., from a private party last year for $84K. Owner paid $7K for the 30K service at FoSF. I got stuck paying for valves and a water pump. Effectively, everything completed I was in at $85K. I felt like I overpaid, but was willing in order to get the car I wanted. If you have uncertainties, wait. It doesn't cost anything and there's always another deal. Best of luck.

Chris

 

Sorry Chris, I'm not understanding. You paid ~$85K for a car that was "right" for you, and one that had all the servicing done. He's getting a similar-condition car that is two years younger (ie., a 1998 model year) for the same price. Maybe I'm misunderstanding your original post, but why do you think he's overpaying??

EDIT: In re-reading your post, I guess you're also saying that you got a GTS, with a Tubi and Centerline wheels for your purchase price. Am I correct?

 

355B's seem to be a bit lower in price than the GTS's. Also, it appears the 30K service is not done = an additional $6K.

Purchase price included Tubi, centerline, radar, charger

 

i agree with ghost. this is a reasonable price if the full major service has been done. again, where are these "great deal" cars everyone talks about??? and if they are out there, is it worth saving (and i use that word loosely) a few g's to deal with some out of state buyer, not know the previous owner, trust that the work was done properly, etc, etc... when this car he knows all the history and the previous owner?? and people wonder why fcars often get a bad rap for reliability - it's usually these "great deal" cars.

"if it sounds too good to be true..."

 

There are some myself included who would argue a well sorted 95 355B is the best year 355 to have. More HP/better sound/OBD I. IMO all things being equal I would (and I did) buy a 95 over any other year. I think the 95's are a real bargain due to misconceptions in the 355 marketplace about reliabilty issues.

Good luck in your search. You have come to the right place for info.

Ghost said
"Let's work backwards for a sec: most 20K-30K mileage 1995 GTB Ferrari's are being transacted between $65K - $75K these days. Not bid/ask, but actually being transacted. I would say a good '95 GTB with essentially the same characteristics as your car, should go for about $72K - $75K. Assuming $4K - $5K depreciation for the car between years, ceterus paribus, it is entirely reasonable to suggest that a high-quality/low mileage 1998 model will go for about $85K."

 

The last interval I was quoted by a dealer was 2 years or 15K miles

 

This dealer sounds like a thief