355 Craigslist $30k f355

Definitely would want a compression/leak down test, to get a idea of the condition of the motor. If that checked ok, for a good mechanic, that car might be a nice fixer upper. If the motor needed work/rebuilding, the $30,000 would be way too much. Any F-Chatter's know what a complete rebuild, parts & labor, would cost on a 355 motor? Seems like I read a article in Forza magazine, that a complete rebuild of a F1 trans, is in the $25,000 range?

 

Lets assume the 2 following facts are true:

1) It's a real 1999 Ferrari 355
2) The title is clean

What's all this "way too much" about?

Anybody who has claimed on this thread the car is not worth 30k please let us know what you think its worth. I feel he should start by offering 20k and hope to get as close to that price as possible. But what are some of you saying? Its not worth 30? 20? 10? How about free? The condition of the motor after a compression/leak down test means its worthless? Nope, still have to pay for transport so its too expensive even if its free!

Guys. We all know Ferrari's are expensive to maintain at times, nobody here denies that, but this car still has value based on those 2 facts alone.

BTW I'll put my money where my mouth is. If the OP doesn't take it I'll offer 20k and ship it here, sight unseen, no PPI, no tests.

 

Not doubting your sighting at all, but I'd be hesitant to take any dealer, factory or otherwise, asking prices as anything close to representative of actual market value. Especially in the recent/current market. They can (and do) ask whatever they want.

 

I never speculated what it was worth,I just said people like drivers! I'll gladly take credit though!

 

If their turd polishers could get the car running anywhere close to decent this car would list for a lot more. The fact that they are so severely under market is a testement to what a turd this car probably is. I'm a diy guy with skills and I have passed on better.

 

If the compression/leak down tests come back with low numbers, then the motor will have to be opened up, and that could turn into a huge expenditure quickly. The $20,000, would be a realistic number, allowing for lots of time & money to be spent, to bring it up to a nice, DEPENDABLE, driver quality car. Someone that can do a lot of the work themselves, can probably be into to it, not too deeply, UNLESS, the parts needed run the cost thru the roof. Hopefully some will buy it, and get it back on the road again.

 

Love the dreamers on here! expecting a seller of probably the cheapest 355 on the planet to then chop another third off the asking price. Its cheap for a reason which has already been factored into the asking price.

It would break for the asking price easily

 

I called on it and spoke to the owner. He owns a shop but says that he has had the car serviced by the local Ferrari dealership in Atlanta. He sent over additional pictures. And reports that the title is clear and car is without accident history.

VIN is 116264
Reported by owner that it purchased 5 years ago from a dealer in OH.
Also stated that was the last time it was serviced...in OH prior to sale. So its due.

The car interior is blue. The seat leather shows signs of bolster wear and needs touched up. It would probably clean up. Don't see any tears.

The dash leather, the airbag leather, the pod leather all shrinking and needing recovering.

The center console ashtray surround and mirror switch bezel are broken....destroyed. Coated black plastic items all appear sticky.

Top is blue and appears ok.

Body looks like TdF and looks ok. I think the craigslist pictures show the car covered in pollen.

It is supposedly popping out of gear sometimes. So this car has a bunch of needs.

 

Did the owner mention just what "service" Ferrari of Atlanta did to the car & when? Would assume that FoA might have given the owner some ball park prices of cost to fix the F1, and address some of the other issues. Again, this might be the right deal for someone that can do a lot of their own work. Looking on Ebay, on Feb 6th, a 1998, TDF/ tan interior, 355 spider, with 3,853 miles sold for $35,100. The listing says it had the belts/service done in 2012. Missing various bits & pieces, runs good, rebuilt title, 2 owner's.

 

I second the "parts car" thought. I wish I had the space.

 

I forget.


Edit.... I was a little off its a 99 GTS F1 just under 20k miles. Asking $99k on their website motorworks bonita springs. I don't know how to cut and paste on an I pad or I'd include the link. I swear though in the showroom the price was $139k

 

I'd pay $20k!

 

I don't think anything has been done locally other than routine maintenance. He bought a used 'actuator' out of Australia. Dealership probably did quote him on repairing and he has decided to sell. He didn't share what they said or quoted. Last belt service was prior to his purchase.

 

The cheapest isn't always the least expensive

 

I'd buy it for $25k. Probably less than $10k on a DIY major and manual swap and you have yourself a summer beater F355 for under $35k.

For what it's worth my 355F1 has 70k miles and still runs great. It's been well maintained though.

My Maranello has 20k miles and in hindsight I would've bought one that was driven more regularly. These cars do not like to sit.

 

Yet I can't sell a good used 99 F1 transmission for $2500 go figure.

 

The transmission "popping out of gear" is probably the F1 pump. Even if it isn't, an actuator rebuild would be $3k...360 F1 pump upgrade around $1500...and as long as the TCU isn't toast, you're back in action for $5k, but in need of a major.

If you're a DIYer...this is a great deal at $25k. Even at $30k there's close to that much in parts tearing it down.

 

A 355 F1 Spider with 60k miles is worth like 40k in a good and working condition, maybe 45 on a good day.

Unfortunately the mileage is the kiss of death. The cars are fine but the vast majority of Ferrari buyers don't want high mileage. The ones that are OK with it are cheap and/or know there's not much resale.

If it was my money, I wouldn't bother for 30k, 25k maybe if you're a diy guy. Like someone else said, that car will swallow money up pretty quick.

 

It would be a shame to see it parted out. Hopefully someone will pick up this 355, fix it up, and have her back on the road. TDF blue is a great color on the 355.

 

I'm a huge DIY'er... I would actually love to take this car in. Unfortunately time is more of the issue for me. If this car was local to me I'd have already been to see it in person.

Assuming the title is clean though, I don't think it'd be worth it with a branded title.

 

There is def $30k in parts here (especially that engine assuming leak down/compression test decent results), but I'd be interested in swapping in a gated shift with this one. With 355s it's easier to just pay the premium for a decent manual but say you got the car for $25k hmmmm...makes the deal sweeter and then you have a gated 355 with a strong engine (maybe!)

This is still a lot of assumptions. I really have no idea how these f1 trans's actually work-but I'd love to take a shot at jamming a manual trans in there. Not a standard procedure, does anybody have an idea of what the extra parts (braces/different engine mounts/what ever/linkage) other than the donor trans might be/cost?

 

It's the same transmission. F1 just has a electric-hydraulic actuator that moves the clutch and shifts the gears.

 

If I were in US it would be bought...in a blink of an eye, assuming clear title.
DYer can address issues or sell parts car
its bloddy $30K people! Possibly $25K

 

i'd buy it if i had the cash available. shame looks like a steal. make no mistake the car needs 20k worth of work but still an amazing car for a 50k investment.

 

Was this car ever at Boardwalk Dallas?