355 values - I just don't get it

I am taking my 355 for a drive within the hour
Yes I have spent $1000s, major engine out belt service early next year .........
I am looking forward to it And have $10 K in my checking acct and can afford more IF needed.
I could care less how much I spend on it, it makes me happy when I drive it........PERIOD.
it’s raw, it’s loud and isn’t loaded with a bunch of nanny crap to help me drive it.
Just went over 40,000 miles, looking forward to hitting 50,000 miles.
Boo Hoo the value is going down, and I could give a rats ass

 

Love it !

 

The 355 was a poster car and toy car model for many kids growing up. We'll eventually see values go up as these kids become adults who can't afford F40's and opt for more attainable models.

 

You wanna see my receipts?
Im dont deal in hypotheticals... I go by experience.

Axle Heat Shields: 164481 x2 $612
Ignition Wire Set $412
Rebuilt Lifters x10 $600


etc

 

I know if I did not wrench on my car my 5 year services would be 15 to 20k because of exactly what Mitchel is saying.
I also know my ownengine outs cost me double because I do many cosmetic things not required.
When I am finished the engine out the car will run,look and drive better than it has since the last 5 service.
Mechanicals will cost me less than 2500. The process will be closer to 10k

 

Yes many items can be fixed without the engine coming out of the 355 BUT most owners never look into most of these items that are needed until its on the hoist for a major. We have done 3 TRs and about 4 355s in the last couple of months. 2 of the 355s needed the steering rack replaced and they are no easy task. Leaks were found in a few other places. Again many things are found simply because most drivers never bring in their cars until they figure it needs a major.

 

Within the next 10-20 years, the state and federal governments will likely ban all cars with internal combustion engines, or place huge taxes or driving restrictions on them. 355s, 308s, Enzo’s, F50s and the like will all sit in meuseums or will be recycled for parts for greener cars.

Drive them and enjoy them while you can gentlemen. Life is short. Does it really matter if they are worth 60k or 160k?

 

There is no way you are replacing the internal combustion engine and banning them with all the related infrastructure in the next 15-20 years. I know it is a 355 Value thread, but holy smokes, please do not think that way. The most efficient form of transportation, infrastructure and economic growth to power the wealth needed to have the world wide economy and pay for the ability to buy and drive a Ferrari is oil based.

http://driving.ca/auto-news/news/motor-mouth-more-inconvenient-truths-on-banning-gas-engines/amp

I think the electric car and truck are fantastic and some day in the distant future, we will see a seismic shift, but I say 100 years.

Let my Damn 355 appreciate and long live the ICE! Let’s get back to building more screaming, wailing high RPM v8’s [emoji41]



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I don’t understand why current owners get upset if their car is “undervalued.” If you want an investment, buy equities or real estate. Start reading the BBi value threads. When those cars became worth $300k+, it was a curse for most owners. Guys stopped driving their cars because they were worth too much. $60k 355’s are a gift and you should be happy about that. Hell, buy a second one...

 

Ding Ding Ding
We have a winner

 

I'm sure this has been said already - but I genuinely believe it's the fear of the engine out. If you're not fortunate to have the knowledge to do it yourself or a friend/shop that can do it - it's a considerable scare off. That being said - I think it's overblown. The F355 is and will continue to be considered not only one of the all-time great Ferrari, but all cars period. (regardless of market price)

 

It's not about being upset. I'm Not selling the 2 I own. I started the thread because I just can't for the life of me understand a TR (not 512 TR) selling for more than a 355.

 

You know, you are 100% right about all time great Ferraris! I have driven all kinds and years. All periods. The old, old stuff is way better than an MGB or Triumph but not much different. Refined and glorious sounding for the time period, but still an old car. The 70’s and 80’s have there quirks and drive about like a Fierro in some ways. I mean a 308 and 328 have great sounds but still feel old. I am talking about fittings, fasteners, switch gear, window lifts and all. A 348 is a pretty decent car. I could not drive mine when I had the 355 and 348 together. It was so boring to jump from 355 to 348 - I did twice to prove a point to myself.

I know 12cyl guys tend to look down there noses at us punk v8’ers, but the sound from my car makes me giggle, laugh and act like I am 12 years old as I drive through long overpasses and tunnels. Not even my Cobra Replica could do that - but the donuts I could do with it were seriously fun [emoji12]

Now a 288 or F40 would push my buttons, but they are not at 355 prices or even hopeful future 355 prices. The 288 is one of the best of all time looking Ferrari’s. 250 California Spyder, 288 GTO, F40, 355 for me if money was no object.

Always wanted a BB or a TR, but not after driving them. The BB was in a parking lot, but at 6’4” I could not drive it and now I cannot afford it. The TR is only great at speed, slow stuff sucks. The 355 does everything well, everything. As a life long Porsche guy, I cannot go back [emoji41]


The new cars are just that. Technical wizardry and excitement, but lacking the soul of Old Ferrari. Pretty much after the 360, the brand changed for me and maybe I am just too old? The only more modern alternative to a 355 for me is a gated 430. That would be the end of the brand for me. I prefer my 7 year old Bangle Butt 650iC BMW for comfort and driving sensation than a new 458 or 488, when considering value and cost. Maybe if I was a multi-millionaire and could daily drive a 458 with no care for cost and mileage, but even then I would go back to Porsche and the new Targa. But that is just weird me.

Maybe I need to find s cheap 355 beater with 60-70k or more miles and drive the hell out of it as a daily. [emoji848]

Cheers and Merry Christmas [emoji319]



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Hi Brian,
This is off topic but wondering if your HVAC gremlins included AC problems and if by chance any help for me. 1998 f355 spider, 43k miles just had major. I have had car 5 years and AC wont hold a charge. Works fine for about a month after charge but that’s it. Putting in the stuff that plugs leaks results in a few more weeks that it works. Once its July, wife wont get in car. I had dealer look at it in addition to my mechanic and no leak can be found. Records from prior owner, same deal. Any ideas appreciated. My email is [email protected]. Thank you

 

Myself and I’m sure some folks here will not even consider selling their 355 so future value is irrelevant. For good conversation, Let’s pretend future value weighs on everyone mind. This is my take.


The golden rule of business is supply and demand. Abundant of supplies, prices go down. Absent of demands, prices go down. This is true for nearly all good and service. The 355 on the other hand, is not like all goods and services. There’s a limited supply and there is a demand. Because this forum, these posts and numerous web articles, a buyers market is created. They know it’s a matter of waiting for the most dispirit seller to flip. But what if, what if every 355 owner wishes to sell their 355 do so at a price they believe it’s worth. If someone want to buy my 355, I’m willing to let it go for $400k. If everyone does the same, every 355 will be valued between 300 and 400k in less than a year time. I really believe this will happen. We have the power to set the price by simply cut off the supply(not selling). Remember tomorrow value is based on today perception.


Many make the argument the 355 value is due to the maintenance cost. I will file this belief under children fairy tales. It’s amo story tellers use again and again to depress its potential value. Let me remind everyone the 355 is real not an imagination written in children books. It sets many technological standards. There isn’t a car from the same era comparable to the 355 on all levels. Even more, It is arguably the most beautiful Ferrari on the road. No matter what model you own, the collective majority agrees the 355 is a top tier looker and if you ask the public, non Ferrari owner, hence less the bias, it is the car man, women, kids want. I won’t bother to share my personal experience. I will say these facts make the 355 a half a million dollar car. Of course we won’t see that price at the current trend because the fairy tale story tellers are us, the 355 owners. Take it with a grain of salt, it’s my story. At least it’s not a far fetched tale I read on here.

 

That’s a great idea! It is great fun!!!

I’m a 12 cylinder guy on the weekend but don’t look down on my 355s measly 8 at all. It’s probably my favorite sounding engine ever made and love the driving feel it gives. The 355 is not as fast as the Diablo but it certainly feels quicker than my testarossa did. I deffinately think the 355 motor is better than the testrossa motor regardless of being 4 cylinders less. It just doesn’t need more.

 

ive been thinking the same thing -wld make a great station car!

 

How about this analogy. Real Estate is all about location, location, location. A typical 2000 square foot home in the middle of Torrance probably go for 600/700k. If this same house located less than two miles away in Rancho Palos Verdes Estate, it probably double in price. Crazy, yes. It’s an accepted scheme determined by Real Estate financing based on homes sold in the area. So what if you find a house that you really want in a 700k neighborhood and it’s not for sale. You want it so bad, you willing to pay above the average price to get it. Let say you pay 200k above the accepted value. Affectively, adjacent homes value will go up and the ripple eventually reach the neighborhood. Exotic cars pricing works the same way. It is based on the average selling price. This is mind, ollectively, the owners can make their 355 a 150 or 200k car in a short time. Everyone sees what I’m getting at? I said enough already. I am reluctant to explain.

 

No one sell nuthin for a year


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Like the dot.com advertising con.

A sells $100m of advertising to B.
B sells $100m of advertising to A.
The invoices cancel each other out.

Both A and B can boast $100m advertising revenue but neither has made any money or accrued any tax liability.

You "sell" me your 355 for $300k and I will "sell" you mine for same money.

 

Car auction houses engage in this activity. Once they started investing in the cars they sell to essentially influence the market, it became a slippery slope. In the category of "there ought to be a law", this should apply to auction houses. They should not be allowed to participate (as investors) in the markets of the products they auction. For grins, check out how many and what types of cars BJ inventories and trades. Some of these are theirs and some are their "clients", but I honestly have a difficult time with the separation. I call them out, but they are not alone in this practice. In real estate we had enough data in order to separate out these transactions from the market so we could measure real market value. A lot of that has to do with the regulation of the banks since they are on the hook for much of the real estate value by way of their mortgages. I don't think the information exists in the auto auction market to do this effectively and that is a problem for me as a potential participant. I am forced to rely on my own sense of value, experience and research. This limits where I can comfortably participate. It also casts a shade over outlier transactions. But I'm just one guy. The market seems to be doing just fine in spite of my suspicion and cynicism.

 

Gerry
Were the steering rack problems obvious or just the usual leaks, or very minor? I guess what I am asking is if there were unusual problems with them you can share with the group.
Thanks

 

Ask any mechanic who's been around a few decades and they'll tell you the same story: the 355 developed its reputation for draining bank accounts right around the time it was introduced. There's no wishing this away. I was firmly in the "will never sell" category but after years of endless expenses I'd had enough. I don't know how long you've had yours or how many miles you've put on it, but if I had to guess I'd say not a lot. I know there are some guys on here who have put tens of thousands of miles on their cars without any problems but that's a very rare thing. This doesn't change the fact that it's a fantastic car, but it does get a bit tiring reading all these posts denying a clear reality. Accept it for what it is and set aside money for maintenance but don't go around saying that the rest of us are telling childrens tales about the stacks of receipts we collected.