<1989 328 GTB> Not feelin' it like I used to...is it time to let her go?

Many 308GTB owners have decided the same thing!

Dr. Barry let his 'glass car go when it became a lot of worry to put it out on the road (went to a street legal 355C.)

I sold two of mine (mainly because I was out of work , but expense on repairs was also a factor)..

A 360 is a much better car! LOL!

 

If you feel the 7 year itch, then it's time to scratch. Glad you're looking at it mostly from the (lack of) fun factor rather than solely market dynamics. There are lots of fun modern higher-performance cars out there.

The big thing that 3x8s have going for them is that they are the last of the non-computerized Ferraris. If wrenching on your cars yourself is not part of the joy, then there is no reason not to jump to something more modern; Ferrari or not.

Regarding the financials, it's hard to do $50,000 worth of damage to a car, so matter what happens to the thing driving it, it won't be declared a total write-off and insurance will pay for the repair. That is the silver lining of high values. Damaging it shouldn't be the worry.

 

I've noodled this idea with both my 308 and E-Type...can't bring myself to do it though.

My kids are old enough now that they'd kill me if I did it. So I'll just have to add to the stable rather than delete!

 

I feel quite the same re my '89 328GTS and, like others, never thought it would happen. But I find that with the current pricing, I don't want to drive it much and, since I no longer want to drive it much, I don't see any reason to keep it. I'm not a car collector and have no interest in owning a car that just sits around.

To be perfectly honest, I probably would have put it up for sale months ago but my wife keeps advising me to hang on to it for a while. She thinks the prices will go up and believes I should wait and "make some money." Since it doesn't cost me anything to wait and she's several orders of magnitude smarter than I am about money...I still own it. But this year, so far, I have only put around 30 miles on it and I suspect it will close out 2015 with not much more. I have decided that for selling purposes, I don't want the car to get to 33k miles; it currently has 32.4.

So next year, I'll see how I (and my financial advisor) feel about selling...

 

How many miles are on the car?

 

I am having the same delima. I have owned my gt4 for 30 years now. Last year I almost drove it 100 miles. I spent more on heat for the garage than I did on gas for the car. But she has become an old friend, why change now. I quess I will just wait for an offer that I can't refuse.

 

Not always true, many insurance companies, in my experience, hear "vintage Ferrari" and toss in the towel....the original claim, any supplementals, huge Ferrari $$ on parts, and the long term risk associated with putting an exotic back on the road..

"off to the crusher" solves all of that!

 

I think it comes down to a question of what will you do with the proceeds? I had the dilemma when I sold mine 3 yrs ago. Wasn't driving it much and used the money to go towards a second home. Turned out to be a mistake but I could never have dreamed prices would more than triple in 3 yrs after they were flat for about 15 years. Now I could buy a second home with the proceeds! I was a rare coin dealer for 40+ years before retiring and I saw a number of bubbles in my life in cars and other collectibles. What I always see near the end is true collectors/enthusiasts selling into the hot market to speculators. You'll always hear the same refrains: "they are not making anymore, they are unique, etc." Lots of good arguments but they always overlook the fact that there is always other places to put money. Every dollar the price goes up prices someone out of the market. I have learned it is a fool's errand to try to call a top to bubbles. People always want what's hot until it suddenly comes to an end. You could argue that prices still haven't reached the level, adjusted for inflation, that they were in early 1990. Like I said, I think it comes down to what would you do with the money. 200K translates into a fairly safe 10K/year return.

Best of luck whatever you do.

Dave

 

Copley Motorcars, recently had a 328 GTB listed at $175,000 and it didn't last long... How's that for a starting point.

 

Take a drive in an F430!
I did, and haven't looked back!
John

 

I would be calling dealers to test interest. You can bet all the major ones have been contacted by would be buyers. Perhaps someone will pay monster money for the only prugna B in the US.

Dave

 

It's a hard call but it seems you have taken a position to sell.

It is a beautiful car and being a collector isn't for everyone. Some have other uses for the money and others don't need to have an infusion of cash.

I own the same car and keep it stored and don't have a problem with it. I have always loved the GTB either 308 or 329 and it is a stand alone design.

Other cars that have the same draw are remarkably expensive and not as friendly to own for the average owner. So it is a choice to make based on if you move on to another vehicle or have another use for the profits.

Sounds as though you would like to have a car to spirit around in so your hunt is on.

Good luck with which ever you choose.

 

This is true. When I lived in Brussels there was a chap living in my commune who drove a grey 275 GTB as a daily driver. Parked it on the street, crawled along in rush hour traffic jams, had plenty of near misses etc. Didn't really matter what happened while driving around the city that car was always going to be 1.4 million euro whether it got into a fender bender or not.

Good luck with whatever you decide.

 

Similar situation but in my case health issues are preventing me from really enjoying my fantasy car. With the restoration and modifications made to my car to make it bespoke I don't even know if there is a market for a perfect 350hp 308Qv with efi and cruise control?


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Wait, what? A chap in a COMMUNE driving a 275 GTB?

That's enough for one day. I'm going to bed now.

 

Commune = village or town

 

911 and 930 prices are cooling down. Better sell your GTB while there is money on the table, before the music stops. This bubble aint going to last forever, and if it does, there may be an opportunity for you to sell and go up market to a car or cars you would rather enjoy.

 

I think not driving it is part of the problem. You go into this circle of despair. Prices going up, more scared to put mileage on ( although in your case I cannot image there a difference in pricing for a 32,4 to a lets say 38K car), or hurting the car. You should just go with it for a nice 1 week road trip. Take your wife and just enjoy the car for what it is. Do not consider the current pricing.
Driving it is why you bought it in the first place didn't you?

Last year I took my 328 for a big trip to the Alps. Drove almost 3000 Km with it and created memories that will last.
This year I'll take my 308 GTB to Italy, putting on probable even more. But the memories will ad up.

And Mileage? I really do not give a damn and apparently, the market tends to focus’ away from that too. Quality is what people want and low mileage does not necessarily spell quality anymore.

 

"Driving it is why you bought it in the first place didn't you? "

Yes, it's why I bought it originally and I put 3000 miles on it in 3 days (drove it from Las Vegas, where I bought it to MD, where it lives. I did a bunch of several-hundred mile trips in it over the first 4-5 years I owned it. It went locally to everything from McDonalds to the grocery store to Home Depot, etc. But I have become concerned now re the prices.

Objectively, I realize that's silly and can't believe that I care about that - I never have. But I just don't want to drive it any more except to put some miles on it every few weeks to keep it in good running condition.

I remember the first year I owned it and went to a local show. There was a guy with a 365 GTC who told me that he used to drive the heck out of the car but that it was worth so much "now" (that would have been 2009) that he only drove it locally to a show on occasion because he became afraid to use it. I clearly recall thinking, "what an idiot, that will never happen to me!"

And now...I'm him!

 

I would not call one an idiot, when he/she is NOT thinking about current values, but I think it makes sense to take current values in consideration. Of course there are owners who like to emphasize on the driving, saying words like whatever the value, I just drive the h*ck out of it", but that opinion would for shure change in a situation of heavy engine damage or an accident, and then that "discussion" with the ensurance company. Let's be honest: we ALL care about values now, don't we ? I think we should. If one really doesn't, one would probably not have financial issues whatsoever for the rest of his/her life. (A situation I'd wish for every earthling, for the record.)

I lóve the beautiful looks of my car. The new paint looks smashing. The "vintage" feeling can't be found in a modern Fcar. Do I still love driving it ? Oops, oh dear, no, I don't, not anymore.. Disregarding inflation to keep things simple: the current value of the car is some 8 (!) times what I paid for it. And (still having to work for my daily bread..;-) that somehow bothers me, and spoils the fun. But even more: it's an old car, with a far from ideal driving position, and though the engine is very much fresh-alive & kicking (200 HP at the rear wheels) I don't consider it "fast" anymore either. So the car hasn't changed, I did. Beïng a human the odds of me changing instead of the car are pretty big, I'd say, so nothing strange going on. Nothing to be ashamed for, and/but nothing to ignore either.

If the magic feels really gone, and you're comfortable with current pricing take advantage of the current market, sell and move on. I decided to see/wait for a few months to see what happens. I've sold several cars in the past, (no Fcars) it always hurted, but my personal experience is that ( a lot !) more horsepower cures all sadness..

 

"I've sold several cars in the past, (no Fcars) it always hurted, but my personal experience is that ( a lot !) more horsepower cures all sadness.. "

Yes...the Dodge Challenger Hellcat has some appeal, I must admit. But my gut feeling about cars IS rooted in the US Muscle car era so that makes sense.

OF course, when I step back to look at it, I still see my 328 as a gorgeous and iconic car. But I no longer really enjoy driving it very much. But as you pointed out, I have changed; the car has not.

 

Mike, just thinking.

Maby you should go out for a long drive and if you can over a mountain, realize again what special car you have.

Just saying.

 

How funny....I've done the opposite. I bought my first 308GTB in 1985 and sold it within weeks, preferring a 930 and then a carby BB which I had for many years.

Now I really enjoy driving my 308. It makes all the right noises and does all the right things and, of course, looks absolutely stunning. Again, the car hasn't changed....I have.

What felt too slow for me in the 80s, is now plenty fast enough. In this day and age of extra traffic, extra cops, extra speeding cameras and instant licence cancellation and car impounding, I'd rather own a car that feels like it's going fast even when it isn't. More modern cars are just ridiculously fast, and quite boring when driven sedately.

BUT....that's just me.