If there's any message here it might be this: Enjoy what you have, take care of it, and don't be a bean-counter. Spoils the broth. Someday, having (hopefully) chosen wisely you might reach a point where passing your pride & joy along to another might be the thing to do for one reason or another, but in the meantime... enjoy! It's really all about love, n'est-ce pas? Cheers to all; Rich '86 328 GTS
+1 I always recall an interview with a guy who won the FOC GB concours with an F40. He described how his agent spent months tracking down a good car, which went directly to one of the best restorers in the UK. After a complete nut & bolt restoration it was delivered to the concours by the restorers, who then polished the car until the judges turned up. The proud owner was then photographed clutching the trophy...
Yes those stories are definately funny from the perspective of the real DIY guys. for me, taking a car to pieces and make the parts as good as new is a big part of the fun. I guess we all have different way of enjoying our cars. What i did notice is that a few year back this "other" approach was basicaly seen on the expensive, cars like F40 and the more vintage ones. Nowadays it is becoming more normal to see it happen in the 308/328 section. The value of the cars seems to attract a different set of enthousiasts. Nothing wrong there, just an observation.
I like watching the values going up. I believe I made a decent purchase. My car enthusiast friends and myself pay attention now. Seemingly, my car is approaching doubling in value. This is a sweet thing! Love the drive! Love driving this car! It's a huge thing having a Ferrari. As a working man, making payments, and enjoying this rolling piece of art with my friends, worth more than money.
Looking at the ads, I have to wonder if this is being driven by the speculators. All of the cars I see on various sites have under 50K on the clock (or so is claimed). Most are under 25K. A few are under 10K. A 28 year old car with 6000 miles on it? That doesn't sound like an "enthusiast" car. That sounds like something stored away for 25 years. Methinks the speculators are selling off their warehouse cars.
I have to admit I keep thinking about it...not enough to post a "thinking about selling" thread, but I do keep thinking about it. If 308s become a consistent 6-figure car, I'll think a little harder.
That's really no different than buying art and hanging it on the wall. Of course I consider mine an art purchase that I'm going to drive the hell out of.
One year since the last post ...i guess the answer now would be no ? or could we still be in a bubble even considering recent corrections?
I firmly believe in 50 years or less, you won't be able to GIVE THEM AWAY. Young folks today aren't 'Car Guys' like we were/are. They don't really 'Give-a-S***'
I agree. Most of the young folks I know or know OF, are not interested in cars at all other than the minimum requirement necessary to drive somewhere IF they have to drive at all. OTOH, who ever thought that any of today's young people would be interested in records, turntables, and tube (valve) amplifiers? Go figure...
so they'll hop into their Google/Tesla/Apple auto-drive car, tell the car "Floor it and let's drift around the corner" and the car will tell them "F-off. That's illegal"
I believe it depends on which car one is talking about. According to Hagerty data, the cars I follow (328 GTS and 308 GTS) are up 11% and 16% respectively just in 2016. I don't doubt they went up this much, but I feel it was at the end of 2015. To me, Hagerty data lags the market. Over in the Vintage section, there are the Sheehan Cycle, the Bubble, and the Art Market threads which indicates the market has turned down. Sheehan pegs the market as being down 25% for the cars he follows. A 275 GTB/4 undergoing discussion is down 8% from the peak, but this is also based on Hagerty data. My analogy for what is happening is the slack in a speeding railroad train where the Porsches and rarer Ferraris, etc. are at the front of the train and the locomotive is applying the brakes slowing to 50 mph while the more common cars and those late to the price rise are at the back of the train and still doing 60 mph. So far, the magnitude of the price decline cited in the Vintage section is less than 1 standard deviation and still in the market correction zone. I feel that it would take a correction of 2 or more standard deviations before the setback could be called a crash and that a bubble had been popped. Time will tell.
I am more inclined to think that this is a correction instead of a bubble. These cars were undervalued for many years (like air-cooled Porsches) and now they've adjusted to where they probably should have been a while ago. The hysteria may not be what it was a year or so ago, but none of them are cheap now and I don't think we'll ever see the prices that we enjoyed for 10-15 years ever again. Sent from my iPhone using Tapatalk
Classic cars of all kinds will have a following and a marketplace forever. Humans love where they came from and where they're going. History has proven this time and again.
I get it with air cooled Porsches. Porsche built a lot of them. According to their own press release, they've built over 820,000 911's. By estimates, around 150,000 911 cars from the model years 1964 to 1989 are still on the road today. So - as values go up - there is the ability for more cars to come into the market. Per this post - http://www.ferrarichat.com/forum/308-328-sponsored-yellow-compass-group/446306-3x8-production-numbers-year-manufacture.html Only about 21,800 3x8's were built. They are inherently more rare. And there are fewer and fewer every year. I understand a Porsche "bubble" bursting. I don't believe it will happen with the 3x8. And, it doesn't bother me either way, because I'm not selling mine.
I understand a Porsche "bubble" bursting. I don't believe it will happen with the 3x8. And, it doesn't bother me either way, because I'm not selling mine." Well, a couple of weeks ago a nice looking 328 sold for 50k on BringATrailer. That was less than I paid for mine in 2008... BUT, the mileage was high - 70-something as I recall - which probably was the reason for the "low" price. 3x8's, UNLIKE Etype jaguars, are still mostly ruled price-wise by mileage... A friend who is into classic cars (and a former Ferrari owner) and pays a lot of attention to all this assures me that once a 3x8 hit's 30k miles, the price goes waaaayyy down.
If 308's follow most other classic cars I think mileage will become less important the more valuable they become. Originality and condition become the most important factors. In a lot of cases very low miles is hard to prove anyway but condition and originality are easy to see. 30, 40, 50, 60k won't make much difference. Below 20k with proof will be probably be the exception and command much higher prices. That's how the UK market is already for 308's. For me 60k is low miles for a 30 plus year old car!!
Exactly, you don't see that strange obsession with mileage on 60's V12 Ferrari's. Even condition isn't the key factor for the value on these cars, originality is. Why should mileage (easily manipulated) be the key factor for value when 3x8's become real classics? I don't get that.
History is taking a turn like has never been seen. Be careful or get caught holding the bag. We won't see it but our grandkids will. We shouldn't flatter ourselves.
Mike, your friend is clueless in that case. A 308 with over 30K miles is barely run in. I would probably agree with 'over 60K' miles...but over 30...wouldn't even merit a shred of concern.
