Urgent Dilemma; Which 355? | Page 2 | FerrariChat

Urgent Dilemma; Which 355?

Discussion in '348/355' started by dub00, Jun 10, 2016.

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  1. WATSON

    WATSON Two Time F1 World Champ
    Owner Rossa Subscribed

    Sep 9, 2010
    23,942
    WI
    I for one disagree with that. The upside is far more likely than the downside on any decent 355. But that's just me.
     
  2. TrojanFan

    TrojanFan F1 Veteran
    Owner Silver Subscribed

    Nov 17, 2008
    5,186
    So. CA & NV
    Full Name:
    Peter
    #27 TrojanFan, Jun 10, 2016
    Last edited: Jun 10, 2016
    I'd go with a gated Spider. Just my preference but I live in California. If you are planning to hold long term, gated seems to be the way to go.

    Unless I missed it, on the Spider when were the big gaps in the service history? You are talking about a 20 year old car. If it has a good current service history, at least going back to the most recent engine out service, you should have a good indication of what has been going on with the car. A gap from 15 years ago would be basically irrelevant at this point for the actual current condition of the car. My '98 Spider has a gap from 2001 to 2005 but complete service history since then.

    You should also be able to take it to a Ferrari dealer and pull a service history on all services performed by an actual dealer. It won't fill in the independent service gaps but would let you know what the dealer has done and if the recalls had been addressed properly.

    As a side note, is a RHD car really worth more than double what a comparable LHD goes for? You can find several outstanding examples of a gated 355 Spider in the US for under $100K USD. The RHD market is much more limited for resale. I have a friend in London that loves to purchase California cars (rust free) for sale in Europe. He has his own LHD cars in London as well.
     
  3. Redlyne_mr2

    Redlyne_mr2 Formula Junior

    Aug 5, 2009
    474
    Calgary, Alberta
    Full Name:
    Ryan D
    Current condition over service history any day
     
  4. phrogs

    phrogs F1 Veteran
    Silver Subscribed

    Apr 13, 2004
    7,361
    Kzoo Michigan
  5. flat_plane_eddie

    flat_plane_eddie F1 Rookie
    Owner

    Mar 30, 2013
    3,168
    DC
    Full Name:
    Eddie
    I bought a GTS because it has the nice lines of the original design but you can take the top off if that's what you want. It's also the lowest production variant if that matters to you.

    My car has some previous records but not like some you see for sale with complete folders. So when I took it for its major I had everything fixed. What more could someone buying it want? Yes you can buy one with full records but if the current condition isn't perfect it will still need something.
     
  6. PAUL500

    PAUL500 F1 Rookie

    Jun 23, 2013
    3,136
    The US market is very different to the one in the UK at present, 355s have leapt far higher in price here than with you or even the much closer european market. Top end prices for average cars are very over inflated here. Check the pistonheads link I posted, wildly varying prices for very similar cars.

    RHD examples are limited in number and heading off to other RHD markets as a result which has fueled the recent increases. LHD examples are ten a penny in comparison.

    Certain countries such as Australia will only allow RHD cars to be road legal, the UK was the biggest market for such so it is where buyers from abroad head to source a car.
     
  7. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    #32 dub00, Jun 11, 2016
    Last edited: Jun 11, 2016
    I am on UK time right now but there have been some useful responses here which I will respond directly too during the course of the day, but I wanted to reply to this last one first:

    You are dead right, they are damn inflated and for sure probably in for a correction, but I invest in other stuff and I know its impossible to choose when a correction will occur (someone mentioned Brexit earlier which is actually also pertinent in this instance and I will address that separately) so I'll get one now and maybe another one in a year or two if prices come down. I am building a collection you see.

    RHD are getting rarer, and when you really look at the Pistonheads website they are mostly F1 gearbox because the RHD Manual is the most popular. Then most have been through at least 3 or 4 owners, often many more (I commonly see 8 to 12 believe it or not). Mileage is rarely below 30k and you really pay a premium as it gets to towards the teens. Then the history file may be incomplete and finally of course there is the condition. There are less than 3 cars out there I have considered seriously, out of about 25 available, so now one begins to see the rarity of the good ones.

    Most countries which were British colonies still drive on the left hand side of the road in RHD vehicles including huge land masses such as India, Sri Lanka, Australia and Southern Africa as well as the United Kingdom, Ireland, Malta and Cyprus, Bahamas, Bangladesh, Barbados, Brunei, Hong Kong, Kenya, Malaysia, Mauritius, New Zealand, Pakistan, St. Kitts and Nevis, Singapore, Trinidad & Tobago..... Many of these places have new money millionaires who are no doubt collecting also.

    But its early days in my search and I am still on a learning curve hence my thread here ;). Keep up the good responses.
     
  8. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    "those are dealer dreamer prices, hold onto your money and find the right car" - wise words indeed. But no I am not shipping this out of the UK. Just leaving it here for when I visit as I live abroad much of the time presently, hence I can do low mileage several times a year on dry days to keep it running nicely.
     
  9. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    GTS is coming out on top here it seems, but that spider was fun to drive on a beautiful day too, and the key point of my OP really was whether a history file with gaps (Spider) is negatively countered by one with no gaps but slightly higher mileage/owners and in slightly poorer condition (GTS)...
     
  10. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    Spider is gated (which I assume to be F-speak for manual)) - learning all the time here. In fact both examples are manual. The F1 gearboxes are rarer but the manual is in higher demand here and how could I not have that shiny metal gate in the middle!
     
  11. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    Thanks, this response most accurately reflects my dilemma and I think I just about agree with all the points you have made. The first line is key here - "The mileage and number of previous owners is less important than how well the car was driven and maintained"- this is the nub of my query so I wonder how many others agree or disagree with that...
     
  12. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    Thanks Robb, I certainly will do. I already feel at home here
     
  13. dub00

    dub00 Rookie

    Jun 10, 2016
    36

    hmm, that kind of challenges FCOnyx who i just responded too above, interesting.....
     
  14. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    Hello TrojanFan. Yes the Spider has gaps in the file. Its a 98 car with services:

    1998, 2001, 2002, 2007, 2009 then nothing until this year. Incidentally it did have a failed MOT in 2011 also, which needed some work to get it past, mainly lights/electrics and nothing significant at all, but it still adds to the perceived negativity does it not? (when I write that it doesn't look great does it guys....?). The car IS beautiful but can I get past these gaps?? Say I keep her for 7 or 8 years or more, and have a perfect record myself, will these gaps diminish enough in significance?

    Both cars are at designated Ferrari dealers who have exemplary reputations., though I would probably still get an independent PPI as a 'just in case'. I may even call the previous 2 (very renowned) garages who serviced her and see if anyone recalls).

    The GTS, again, has had annual services, even with its higher mileage and owners, this is an inescapable fact. But it needs more tidying up yes (leather, air con. panel, apron repaint, maybe one door also due to chipped intakes, perhaps some engine detailing too). The GTS is still lovely but not in the shape of the spider, which is gorgeous. I would have to get the GTS to the level of the Spider, if not better, myself, which is fine if I ultimately choose this direction.

    As to the cars being worth that, well probably not hehe, but they should be at some point, even if they go down a bit in between! Please refer to my previous response to Paul500 re RHD demand/countries etc for some flesh on that argument, not that I am justifying the price, just fleshing out the demand side argument for the best RHD examples presently.
     
  15. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    I have this query on Club Scuderia also, but you guys are slightly more responsive. However someone there said this:

    "well firstly I would wait until after the Brexit vote..................if we vote to leave the price will drop overnight ! and if we stay in - well the price will stay the same...

    Mark is quite right though, the market is very toppy.............and be prepared to hold for a long time"


    My response, which I am adding here so you know this is a well thought through decision (but of course no guarantee I am correct !):

    Funny you should mention this; I have sterling in the bank. I would rather that be in a UK based asset rather than cash, on the basis that, if we Brexit the Pound will be hit hard for a while by currency traders (I am a swing trader 70% of the time and this is my view); an asset may hold up better. This is part of the reason for the urgency. It may be flawed logic, but I just know I do not want that cash in sterling, or any cash form to be honest.

    So, in this light, what is the pound is far more toppy than the 355?
     
  16. FLORIDAsnakeEyes

    FLORIDAsnakeEyes Formula 3
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    Jul 7, 2015
    1,154
    Sarasota, Florida
    Full Name:
    OC
  17. FCOnyx

    FCOnyx Formula Junior
    Owner

    May 28, 2012
    413
    Round Rock, TX
    Full Name:
    Jeff
    Originally Posted by Redlyne_mr2 View Post
    Current condition over service history any day

    Hmmm... No, I think Ryan and I are saying the same thing. My car *did* come with a nice, thick service history book, and that's great for knowing what has been done and how long ago, but it will always be clear if a car was maintained well even without a complete history. You might be able to fool people on the surface, but a moderate deep dive will reveal the truth to a tech.

    If it is checked over well by a tech who knows the 355 and its idiosyncrasies, it will be easy for him/her to see whether or not it has been maintained. Book or no book, you can't fool a good inspection with a knowledgeable tech.

    My guy was able to see things like upgraded/rewrapped OEM headers, upgraded hoses, gold connector kit, upgraded cappy bypass, etc. during his first 10-minute look at the car. The book backed these things up, but he knew what he was looking for, so the book was just confirmation of what a good tech will be able to ascertain. Looking at the current condition and how it reflects recent maintenance will weigh more heavily (to me) than high mileage, etc. Granted, the book is good for things deep in the engine that can only be seen with a teardown, but you have to balance that with how many more common things are a problem much more frequently.

    My car now has almost 57K (14K in 3 years... yeah! drive it!) and yet it whips up on 360s, especially ones that just sit for most of the year and only get serviced every 3-5 years based on time rather than miles... so taking proper care of the car and driving it regularly is more important than keeping it pristine and rubbing it with a diaper in the garage, IMHO. ;)

    Indiana Jones said "It ain't the years, it's the mileage"... but with Ferraris I don't think it's the years or the mileage... I think it's the maintenance.
     
  18. FCOnyx

    FCOnyx Formula Junior
    Owner

    May 28, 2012
    413
    Round Rock, TX
    Full Name:
    Jeff
    All the things you listed sound to me like they are just cosmetic. I wouldn't get too hung up on that. They are creeping up on 20 years old now, so if they have been used at all they are going to have blemishes. You should have seen the condition of the leather on my seats when I bought it... but holy hell did it run strong and sound amazing. I'd be more leery of a pristine car with low miles than one that has clearly seen some use but was well-maintained.

    You're going to have to drop some money into *any* Ferrari at some point. That GTS sounds similar to mine in terms of condition (when I bought it). I found it much less painful to take care of surface "prettiness" issues, knowing the engine was in great shape, compared to friends of mine who got "cheaper" Ferraris then ended up dropping an additional $25K year one just to get the engine issues worked out.

    I'd go with the body style you like best (for me it was GTS). Either way, the car is going to require some cash input... if not immediately, then eventually, it's inevitable with a Cavallino... both on the engine and on the cosmetics. Better to be spending money on the exact car you wanted rather than one that was your second choice. :)
     
  19. Markphd

    Markphd Formula Junior

    Mar 10, 2012
    713
    To quote Clarkson, "I bought the wrong one" when referring to his GTS. I am personally firmly in the gated spider camp, unless I was tracking the car and then I would want the GTB.
     
  20. Jackie and bill

    Jackie and bill Formula Junior

    Nov 29, 2014
    795
    GB
    Full Name:
    William
    Dub100, i have been reading both threads on here and the UK forum.
    I noticed on the UK forum that there were comments about some of the high prices asked for the f355s.
    One comment was that they made to many of them. However the 11,200 f355s production numbers are small compared to the 38,500 Jaguar e-types produced.
    They are now commanding way more than the f355 are, some at 200k. Using the 355 logic they should be worth nothing.
    Things are moving in the right direction IMO.
     
  21. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    Such useful insight. I will take some time to digest this. Love the Jones quote too!
     
  22. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    I recall that report he did on his GTS but couldn't find it and couldn't recall exactly why he had issues with it. However he is a very tall chap so maybe that was something to do with it.
     
  23. dub00

    dub00 Rookie

    Jun 10, 2016
    36
    I'll add this to the knowledge pot; great having different perspectives like this thank you.
     
  24. Markphd

    Markphd Formula Junior

    Mar 10, 2012
    713
    Go to YouTube, you can find his comments there.

    Sent from my SM-G920P using Tapatalk
     
  25. PAUL500

    PAUL500 F1 Rookie

    Jun 23, 2013
    3,136
    At the complete other end of the spectrum I do know of a 355 that is coming up for sale soon at sub £50k in the UK, thats where my money would be going if I had any spare. A practical car you would not be scared to use, that won't lose any value in the future.

    LHD, GTS, 5.2 Yellow, Starship mileage but everything virtually replaced with a folder full of invoices
     

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