"New" 308 for $80k

In my opinion, your first instinct is right...it's ridiculous.

 

I already have a 308 with scratched paint. Why would I want another one? I do have 104K miles on mine so maybe that's the difference?

 

Most odometers did break after 1100 miles

 

Reminds me of "Car Myth #1"
Musings about cars, design, history and culture - Automobiliac - Car Myth #1: "You want a low mileage classic. High mileage means trouble!"

 

For $80k i could get a decent 360 Modena.

 

So 80k ridiculous for a near mint 308 that's been maintained, assuming add is telling truth. Ac needs fixing and a small scratch. What's that a few grand to fix?

Sounds like a good deal to me. The other option for a mint 308 is restored... 100k for a restoration plus the car...

Of course one can be happy with a driver.

Heck with this thinking one can buy 2 348's or a 355 and 308, or 3 308's....

 

According to the advertisement it had it's tires and belts changed a few times and its carbs rebuilt. That in no way equates to it being maintained.

The chassis has about 1100 miles on it. But the ad says it was run every month, and with 1978 being about 430 months ago, if the motor was run 15 minutes every time it was started the motor has about 7500 miles on it.

The fuel lines must be like jelly. The shocks and springs must need replacing, as well as every seal on the motor and every suspension bushing. The advertisement states "The tires and belts have been replaced four times due to their age". Same is needed for every other rubber bit on the car. I'd wager it needs $15k worth or work at least to put it on the road.

To put it back in a museum it probably doesn't need anything.

The car wasn't maintained. It was wasted.

 

I live in this general area I haven't heard anything about this car nor its' collector.

I did talk to a tech about a month back that was tasked with bring a 308 up to snuff to sell as part of an estate. He was looking for a cheap exhaust and headers since the originals were shot. I'll give him a call.

 

This is not the first time I've seen this car. I think it was first offered over a year ago when I was looking before I bought my car.

 

And I can't recall, but something about this car was really "off" I just can't remember what it was.

 

+1

I have often wondered why they don't have a Hobs meter or something that would keep track of the number of rotations on a motor installed. My theory is a low mile car that spent half its life idling has probably just as much wear and tear on the motor as one with higher miles.

 

And another cheap/expensive 308 thread begins.

 

Let me pose this question. What do people think it costs to take a worn 35-60k mile 35k usd 308 to the same level as this car? I bet it's a lot more than you think. ; )

My personal opinion based on valuing the market over the past couple years, is that the car is worth 55-75k. I'd really need to see it up close. Listing it for 80k makes perfect sense - plenty of room to negotiate.

It's great that they actually maintained it. But it's sad that someone didn't get to enjoy the car more.

 

80 + 15 that's still less than a restoration plus a car.

 

I think there's absolutely a market for these time capsule cars, both for folks with extra cash who want a driver that's essentially "new" 30 years after the fact, or for collectors. I paid $39.5k for a Euro QV with 11,700 miles that had only ever had the oil, filters, fluids, and belts changed. Not a time capsule, but much more original than most. I'm still slowly replacing all the rubber. Would I do it all again, or buy a freshly serviced 60k mile car that I could just climb in and drive without any worries and significantly less expense until the next major? I'd buy the low-mileage car again. There's something about all the originality, and I couldn't care less how much the previous owner didn't fully enjoy it as long as I can now.

So I can definitely understand these ultra-low mileage cars' appeal and higher price, even if I wouldn't personally go as far as this one.

 

No question about what you're saying. While lower mileage doesn't necessarily mean better car, I think the thing here is the asking price of $80k.

 

I agree $80k is unrealistically high, but it is just an asking price. As singletrack said, actual value probably $55k+ assuming the ad is honest. The asking price on the car I paid 39.5k for was 46k, I just kept pointing out everything that needed to be replaced at expense and haggling down. I doubt this car will actually sell for $80k, the broken AC is already a given, and the 14" wheels that would be difficult to get decent tires for, and all the hoses and seals and suspension. The seller is just fishing for a high offer I would guess, and I would too if I went to the trouble of keeping a car in original condition that long.

On the other hand if the seller really expects $80k and no less then they are delusional. IMO at least.

 

In today's dollars, the seller paid about $225k for that car, maybe he recouped his loss by selling admission tickets to his garage over the years.

 

80k seems reasonable if the car can check out as a time capsule.

Again, not everyone wants a 360 for 80k, there are plenty of examples on fchat with people in excess of 100k in 308s....hopefully , we don't drive them all off this section.

 

Mine has less than 10K miles on a total ground up rebuild. Everything works and there are no scratches. I'd sell for a lot less than that. If this car sells for anywhere near that I'm going to raise my price.
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It was a poor speculative investment for people to buy these cars as long-term investments. But it's decades later and now the best we can do is buy these cars and treat them right. It will be a long time before anyone can recoup the actual value of the cars when they were new adjusted for inflation, if ever. Most investors are realizing this and unloading them now. There were just too many made for an old 308 to sell for the price of a new 458. While many 308s may be in garages for all the wrong reasons, this board gives me hope that many of them are being treated properly and driven as they should have been.

Decades of being garaged can be reversed, it just takes the right owner coming along to drive the car properly. Whatever value the previous owners lost, that's on them, they made a mistake. In the meantime the market will do what it will do.

 

Pretty blanket statement - and a picture from 15 feet away with the sun in the background doesn't mean anything.

 

All I'm saying is that price seems way too high. My hard drive crashed and I lost most of my pics. Only have a few left from a disk. A 308 is a nice car and I like mine a lot, but it is not worth 80K.