348 - What's it worth?

The problem becomes in how was it stored?

Everyone says it was stored great, but someone's definition of great does not mean great and proper by exotic car standards.

Gas has to come out before starting, and the like. Was a rodent issue ever discovered in the wiring ? The seats , are they hard like hockey pucks now because they were in a very humid garage?

Too many factors.

Your range of 38ish seems to be on target if it all balances out, because that car will need closer to 30 grand to make it up to Ferrari running standard.

 

Ping Plugzit to help him get the car running well and smogged before he sells it. Then the 8 year sit will not be an issue.

 

$25k. It needs everything: tires, brake system flush/rebuild, a major, possible shock rebuild, all new hoses, fuel tank cleaned, who know what seals would start to leak once running..... The list is endless. Unless someone just want to buy it and park it in a collection I don't think it would be an easy sale. It's not like you can turn the key and take it out for a test drive. And what would a PPI show for an engine that hasn't been turned over for 8 years? It needs a major before the true condition can even be assessed. There is no telling what has decayed form lack of use for 8 years. Personally I would not touch it. You could easily dump $20k to recommission it and then what do you have? A car you might be able to sell of $35 to $45k.

 

This is brilliant advice. Get it working, invest in a service and sell it for all the money.

 

Until it shows up around here

 

Well, your neighbor Wayne would just sniff the plugs and then fire it right up. Doesn't matter if it's been sitting for 3 or 30 years.

On the other hand, I'd hope to buy it cheap ($35k), do the service for starters and then drive it.

 

It needs to be running, but definitely don't try to start it. 8 year-old gas is one of the foulest fluids you'll ever smell. The timing belt is questionable after sitting under tension for so long. Serviced and running is the best sell. An 8k mi spider freshened up will do about $42k+/- imo, but I'm not a spider price expert.
Funny how everybody wants super-low mileage but nobody wants a car that's been sitting, huh?

 

It's a fine line between sitting and abandoned

Just like a love / hate relationship

 

Sorry John. $25K is ... BS.

 

Not true John. It is not a 355. It is a 348! I'll bet you $100 bucks you do a good major on it and it will be as perfect as any other 348 in similar condition. In any proper major everything is done anyway. A major is not a belt swap for resale.

 

I love the 348 spider. Just love it. Great machine and at the moment very under valued. Quite the car for the money, and easy as pie to fix.

 

Personally not interested to buy, but wonder what it'a worth?

Like it has been already mentioned, it could be just a fine car after the major.

 

$25k is far to low

 

Sure, do a major and drive it away. The wait for other stuff to start to go. You know as well as I do that sitting for 8 years w/o any service atol can reek havoc on every seal and rubber duct in the engine/trans, Ferrari or Ford, dry rot doesn't care. 8 year old tires are something most people would not drive on ( at least not at speed). But you are right, a major and it would be as good as any other 348 that sat for 8 years and just had a fresh major. I can not agree with you on this FBB. Like you said, it would be a gamble. You might get away with a major and a set of tires. The again, you might not. Has noting to do with not being a 355. It has everything to do with sitting for 8 years.

Look at it another way, in ready to drive condition with fresh major it's a $40-$45k car. Now start deducting. I think there is a real possibility that it might require $10-$15k worth of work at a good shop. That places its value some where between $25-$35k, and I'm not one to gamble on the high side, so $25k. If you want to paly the middle go to $30k. If some DIYer thinks that because he does all the work the somehow that justifies paying too much for it that fine. Let him buy it for $35.

 

Someone independent mechanic like Plugzit (not necessarily Bruce), could do a major, all hoses, all seals that leak, replace the brake/clutch fluid, flush out the gas, for $5k. Add $1K for a set of tires. So, now this 8K miles red/tan spider is worth ... $31K.

Hey Trojanfan, if he wants to sell it for $25K, I will send him a check tomorrow, sight unseen.

 

Yes that's why you do a major not a belt swap. To me a major is nose to tail not just sniffing around a timing belt.