values of 328

Depends on the year,ABS/nonABS,color,GTS or GTB,US or EURO SPEC,mileage,and overall conditon, and as well the supply and demand factor at any one time will affect the value.
Around here you will here cars selling for $25,000 to $91,000 sold at an european auction this past year.

 

Twice during this past summer by two different parties, I was offered 54 and 55k for my red/tan '89 328 w/29k miles. One guy, with wife nodding agreement, offered me a cash downpayment on the spot. Both of these offers occurred on the street - the people just walking up offering to buy the car; the car was/is not for sale. Both offers were more than I paid for the car in Aug, 08.

This could be a total fluke but since it happened twice I have to assume that folks will pay for a car they like that is in good condition. What this means, if anything, re values...I have no idea. I always assume that a used car is worth less this year than it was last year and despite these two occurrences, I believe that these cars will continue to depreciate like every other car does. They are not rare by "collector" standards. Hemi Barracuda Convertibles? Now that's another story! (23 total made in
'70/'71- sold new for around 5k, one recently sold for 5 million bucks.)

 

Maybe up, maybe down. In the States I would say it depends on the economy and how many people absolutely must liquidate them. If everyone who has a 328 doesn't need to sell and doesn't want to, they will go up in value as those wishing to have one will have to make an offer that can't be refused. If on the other hand many people must liquidate, prices will go down as there aren't so many people who are willing to part with cash for a luxury item in the current economic state. Personally I hope they go very low in value and no one notices so I can pick one up.

328's get lumped in with 308's and to some degree Mondials. Today some people feel a less than perfect car is a parts car. I've seen very nice bodied Mondials get parted out. It makes me wonder how many Dinos were parted out 25 years ago when they became troublesome. Given enough time I think the differentiation between the different trim lines or 2V vs 4V will go away. What the value will do by tomorrow or early next week? That is a bit like wondering what the stock market will do over the next several days.

If you have passion for the cars, buy one and drive it. If you are looking for an investment you may do well or lose your shirt, I would suggest it depends on your timeframe. I think in 20 years the value will move drastically. Over 5 years it may do nothing and the maintenance will eat you up. In any event, if you are looking for an investment I'd go elsewhere and leave the Ferraris to those that want to drive them. That will have the side benefit of leaving prices lower.

 

Do a search because I think we just had a few threads about this.

But I think red3555gtb is basically right, that there is a huge spread. In the U.S., $30K is the bargain/beater category, where the car probably has over 40K miles, interior re-dyed and/or worn, usual road rash, etc.

$70K-$90K gets you a <10K miles, red/tan 328 GTS, with the 1989s still being slightly at the high end (because they are newer than the 1988s, or have the ugly wheels, or have the very poor first gen Teves ABS, or because they are the commonest -- hard to say.)

I think the sweet spot is in the $50K-$60K range, 1987-early 1988 cars, where you can get a very well kept, lower mileage 328 that has been actually driven enough to be reliable.

As far as prices, really good 328s are holding value. Even in this economy, I sold mine recently for slightly more than I paid for it. I would say it was $5K less than it would have brought in flush times. (And that's during a stretch where 599s went from $500K to the low $200Ks -- and are still sinking -- and 360s went from $180K to $80K.)

That said, there are a lot of 328s that I wouldn't buy for long term. You can usually tell from the engine bay and interior condition, but I would also avoid cars with a lot of aftermarket crap (wheels, radios, alarms, upholstery, etc.) Get an unmolested car. If I were in the market and liked red (unfortunately it's not my favorite), I would be looking to do a deal on the '88s at Marshall Goldman (beautiful) and possibly Naples Autosports (although it's a Florida car, which isn't good).

 

Prices are probably down about 10% from a couple of years ago with really nice cars holding better than average ones.

Dave

 

I think this one is fairly priced.

http://www.daveolimpiautomobiles.com/forsale/ferrari/1988328GTB/index.html

 

Nice car! That's an '88, if it was an '89 GTS, they would probably ask for more.

 

What kind of crap is this, that a Florida car isn't good. That's total B.S. or you're just been sarcastic.

 

You mean if it was a 1989GTB they would probably ask for more.

 

Don't think Jon was being sarcastic, just pointing out that east coast cars are more prone to high humidty and rust issues. Sorry, but I won't even consider a vehicle from NY. or FLA. but thats just me.

 

I actually think (and correct me if I'm wrong, Jon) Jon was referring to the fact that there have been many documented cases of unscrupulous exotic car dealers in Florida over the years.
HOWEVER, I do not think it is fair to include Naples Motorsports in that group. I have known the guys there for years (even before Todd R. started Naples) and they are top notch. They know their stuff and their cars are as advertised. I have purchased two cars from them (a Porsche and a Ferrari) and would recommend them to anyone.

 

In addition to that, FL titles list the mileage as Exempt on a car over 10 years old. This was a big problem for us getting the mileage certified on the new Title. Our state did not have Exempt as an option so they wanted to list it as Mileage Not Actual. All things being equal, I would also prefer to stay away from FL cars in the future. However, I would not pass up a good deal if I found one.

Dave

 

I have seen here in Florida 328s that are really outstanding cars, some even looked like they just rolled out of the factory line.

 

You're correct. Not implying that Naples isn't a reputable dealer, but that Florida makes it too easy to resell wrecked cars with clean titles. Also, the mileage certification as davebdave mentioned.

It's also true that the humidity there is rough on cars, but if one has been stored properly that's not necessarily a problem.

The 328 at Naples looks VERY good, based on pics, and it would probably pass a PPI.

 

Perhaps you guys can give me an idea of fair market for on my 328. It's a 1986 GTS Rosso Corsa / Nero with 35,500 miles. The car is complete with tools, jack kit, cover, owners manuals, and documented service history... including a major done in the last 1k miles at Ferrari of Washington (spent most of it's life in VA). It's clean, straight, even gaps all around, but it has had some paintwork. It runs and drives well with no leaks, the only couple of issues are the sticky downshift from 2nd to 1st when it's cold, and the AC is inop. The interior is clean, no dye, very light wear on the bolster, tight dash and doors, no stickiness, and every switch/light works. I'm looking at getting a 430, so I need to get a good idea of value on this to see what I'll need to come up with to make up the difference!

 

Fix the a/c and probably $45,000-48,000.

 

That would be an OK starting point but I think in reality they have moved down a little from there.

I would say a fair selling price, based on where the market is now, is more like $41,000-$45,000.

Do a Vast.com search and see what similar 328 are asking. You might be surprised to see that they have moved down a little more than you think.

-F

 

Thanks for the guidance guys... that was about the region I was thinking on price too. I went ahead and listed it on F-chat classifieds for $39,500 to see if I can get it sold quickly.