348 for 34K

+1, +1000000 all you want. Truth is the market is down across the board. Yes there are beaters and cars needing major work at firesale prices but there are also very good cars going for prices some would never consider. You can wish the market higher but that does not make it so. It's a car, drive it and enjoy it. Sell it for what you and the buyer are happy with. Or not.

 

I guarantee you the loss of the opportunity is punishment enough.

I am not really happy with the seller right now... instead of making a counter-offer, after days of communication he just went with the first higher offer. This was on eBay, so I can see that indeed someone got it (he didn't simply stop communicating). Oh well, wasn't meant to be.

Granted, this may have been a "fire sale" situation, and not everyone is in a position to give away their car.

 

LOL, I was on top of this as well, but was not fast enough. oh well

 

Plenty of fire sales going on 'round the country. I just bought a cabin at fire sale that should bring 25% more with very little effort. The seller had no time. He needed the money. Now.

Panic selling has caused the 348 market to plummet just the same. People need cash. The market is the market.

 

I can't hold back my opinion on this one any longer... $30K for a MINT 2-owner red/tan 348 with 18K miles! D@mmit! Are you kidding me? Someone absolutely stole this car (and I'm sure they must be laughing all the way to the DMV!), even considering that it needed a major! It had 9 "best offers" submitted in the first day, and sold for the $30K asking price in less than 3 days! I'm really surprised that someone didn't pull that trigger sooner (and that person is probably right now kicking himself hard in the @ss for not clicking the "buy-it-now"!!!)! I also believe this seller is probably thinking he left several thousand dollars on the table. There is no way that this sale sets the bar on the 'current market value' of 348's. I'm done ranting now, and yes I'm probably in denial...

 

LOL,lol. when I found out the car was sold, I replyed to the seller's email by saying "Im kicking myself for missing this opportunity" the seller replyed "and I'm kicking myself for selling so cheap"

 

Hey, Wing - Zonik - and perhaps others..

I'm the guy that sold the '92 348 on Ebay.

Setting a price on a used car is difficult. It's even harder on a small-production car like this where there's not much info to rely on.

I looked at the completed listings on Ebay. Lots of cars went up for sale, but very few of them sold. I wanted this one in the "Sold" category.

It was not a fire sale. I don't need the money. Although, a few extra thousand is always nice to have around.

I figured the car was worth mid-30's when the belt service was done. There were some lesser issues to fix as well. I have no idea what this would cost, and I set a price that I thought would allow for these items.

I stated in the ad that a PPI was recommended, and that at the end of the day, if the buyer didn't like the car, money would be refunded cheerfully. I couldn't make it easier than that.

The buyers are out there for these cars if the price is right. I had eight offers in the first 24 hours.

The buyer of the car is happy. I am probably a bit less happy, but I'm an adult and I can deal with it. Hindsight is always 20/20.

Some Eurosnob Porsche driver said earlier in this thread that I am eccentric.
No, Buddy, I am not eccentric... I am honest. I am smart enough to know what I don't know, and I did not want to paint an overly rosy picture of a piece of machinery that I have no qualifications to judge.

Thanks to all you guys that were interested in the car. It was a pleasure dealing with you.

Jim

 

LMAO!

 

Honest people are very, very hard to come by!!! Jim is one of them......

 

+1 lol

 

Jim, your candor is appreciated!

 

Clearly. Thanks for sharing those details, Jim.

 

Interesting posts. Again, "market" is defined by what a seller and buyer agree on. Name-calling be darned.

 

calm down dude, the economy is tough and some people even with Ferrari(s) are desperate.

 

Darn unsubsidized student loans... they've been sitting there compounding interest owed. Good thing I remembered they were due now, instead of next year. Looks like I'm out of the market yet again

Jim, cash in your pocket is always better than sitting around... trying to court/please the higher end buyers. Sure you could have got just a few grand more, but what cost do you place on your sanity & free time? I place more value on quick sales! Glad it worked out... enjoy life

 

Don't worry, Wing. When you decide to get back in the 348 market next year, it sounds like prices could be in the same range as a Yugo...

 

DD, I said all of that with a smile on my face. FWIW, I sold my first Ferrari for less than I thought it was worth, but I was happy to sell it and I think the buyer is still happy with her. The world continues to go around...

 

Does anybody know if any model Ferrari, any year, in any era ever sold in the $30,000 price range? Of course I am speaking about models that were $80k or more when new. I am still having a hard time believing that the 348 is a $30k car

 

The cost of 348 major service partly influences price - much like the Testarossa. As much as I loved my 348, when it came time to consider another, I actually looked at the 308 & 360 first. Being able to do my own major (versus paying a midwest dealer $9,000) made quite a difference in my prospective purchasing budget.

 

But the Testarossa is still in the $60k range or higher - it has not dropped to $30k

 

A clean, well-sorted 348 with records, fresh major, etc., isn't a $30K car.

 

Not really. 30-60 for a sold car. Asking is not selling...

 

your talking about sterling not us dollars right?

 

Is that right? I haven't seen a TR go for under $60k, I have been seeing them sold in the last couple of months.

 

no idea what sterling is.