Are 3X8 Prices REALLY Going Up? Value vs Price | Page 11 | FerrariChat

Are 3X8 Prices REALLY Going Up? Value vs Price

Discussion in '308/328' started by Dr Tommy Cosgrove, Aug 14, 2007.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. GrigioGuy

    GrigioGuy Splenda Daddy
    Lifetime Rossa Owner

    Nov 26, 2001
    29,385
    E ' ' '/ F
    Full Name:
    Trailer Swift
    You -do-realize you're responding to a decade-old post, right?
     
    eyeman1234, built2grind and thorn like this.
  2. built2grind

    built2grind Formula Junior
    Silver Subscribed

    Oct 16, 2016
    407
    The Peninsula
    Full Name:
    ANDREW
    LOL !!!
     
  3. scudF1

    scudF1 F1 Rookie
    Silver Subscribed

    Jan 21, 2012
    2,864
    Long Island, NY
    Full Name:
    Billy
    holly cr......p !!!! lol. It still applies for today. lol
     
  4. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
    Owner Rossa Subscribed

    May 4, 2001
    35,278
    Birmingham, AL
    Full Name:
    Tommy
    I started this thread 10 years ago, not as an opinion piece but as an observation.

    I paid market correct 20 years ago for my black 84 QV which in today's dollars equals $52,800 +/- a smidgen.

    What is the market today for a very good, non red 4 valve car?
     
  5. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
    Owner Rossa Subscribed

    May 4, 2001
    35,278
    Birmingham, AL
    Full Name:
    Tommy
    But I was wrong as hell about the glass 308's

    I can admit that :D
     
  6. warrenz

    warrenz Karting

    Aug 11, 2014
    95
    Sweet S Ranch
    Full Name:
    Regis Bragg Stevenson
    I know that just about no newbie can drive 308 anymore.way too much manual effort required.
     
  7. scudF1

    scudF1 F1 Rookie
    Silver Subscribed

    Jan 21, 2012
    2,864
    Long Island, NY
    Full Name:
    Billy
    You got a good deal back then and still a good deal now.
     
    RM308 likes this.
  8. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
    Owner Rossa Subscribed

    May 4, 2001
    35,278
    Birmingham, AL
    Full Name:
    Tommy
    I did ok but it wasn't too far off the market. $3000 tops, if that.

    She had 57,000 miles on it then which, to the 308 ignorant, is a "ton of miles".

    I have doubled that. lol.
     
    newark_308 likes this.
  9. scudF1

    scudF1 F1 Rookie
    Silver Subscribed

    Jan 21, 2012
    2,864
    Long Island, NY
    Full Name:
    Billy
    I'm sure you enjoyed every single mile of it. That's priceless.
     
    Dr Tommy Cosgrove likes this.
  10. furmano

    furmano Three Time F1 World Champ
    Silver Subscribed

    Jul 22, 2004
    31,905
    Colorado
    Full Name:
    Furman
    Ten years ago I bought my low mileage (17,000 miles) 328 GTB at a relatively high price of $60,000 (2007 dollars). These days I'd say it's worth around $130,000 or so. I've spent around $18,000 in maintenance in that time (two belt changes, two sets of tires, hoses, etc.).

    Just shooting from the hip, I'd say a 308 QV with around 40,000 miles with up to date maintenance is worth around $60,000? Seems like similar 328 GTS's are going for around $80,000 or so.

    -F
     
  11. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,402
    Southlake, TX
    Full Name:
    Rob Lay
    Cat's just sold a really nice '89 for $69k, but I think it was well bought. Roy can't be too much off the market though.
     
    furmano likes this.
  12. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,402
    Southlake, TX
    Full Name:
    Rob Lay
    going back looking at this thread 10 years later I think on average we over predicted how much most 3x8's would go up in value, but probably under predicted how much special fiberglass or low mileage cars would go up. back then and before there wasn't as much spread or differentiation as now.
     
  13. chrismorse

    chrismorse Formula 3

    Feb 16, 2004
    2,150
    way north california
    Full Name:
    chris morse
    I love my 77.

    If I had the money to bump it to 3.5 and do mfi, I would be stoked. But, I have only been able to perfect the brakes and handling, before my money ran out. I say this with a lot of respect for others preceding me. I have worked hard to understand "balance".
    If you have raced......you know what I mean. The brakes are the best that have ever been, (F50 fronts and 360 rears, including 360 parking brakes., Tilton adj prop valve, perfect).
    So, with regret, I am servicing the car, prior to offering it for sale, but first, I have to blow up the garage floor to install a lift so I can fully service the car.
    It has an oil thermostat to get the oil up to temp quickly.
    Lots more,
    Chris.
     
  14. chrismorse

    chrismorse Formula 3

    Feb 16, 2004
    2,150
    way north california
    Full Name:
    chris morse
     
  15. eyeman1234

    eyeman1234 Formula 3
    Owner

    Dec 25, 2006
    1,881
    Boca Raton, FL
    Maybe the next big bump will come when the media blares that all future Ferraris will be hybrid or electric ...(or hydrogen fuel cell, given time!)
     
  16. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,402
    Southlake, TX
    Full Name:
    Rob Lay
    I think there is also risk that's going to hurt classic cars. Most under 30 don't care about cars and those kids today aren't going to care about ICE. The market and demand is going to shrink. I think there is still a strong market for next 10-25 years as the 70-90's generation fuels the market, but like as the boomers got over their muscle car fix, 25 years from now most of us won't be as into the 70-90's classics.
     
  17. rdefabri

    rdefabri Three Time F1 World Champ

    Jun 4, 2008
    33,571
    NJ
    Full Name:
    Rich
    I agree.
     
  18. johnk...

    johnk... F1 World Champ
    Owner

    Jun 11, 2004
    10,625
    CT
    Full Name:
    John Kreskovsky
    Nonsense. At the time these cars came out most under 30 didn't cars, let alone Ferrairs. The demand for Ferraris today is greater than it's ever been and collector Ferraris are in greater demand than ever as well. The issue re the 3x8 is how collectible will it become, and when. The 308 is a beautiful car and that alone attracts attention to it. And they still make an impression with kids. At least mine does every time I take it out.
     
    crinoid likes this.
  19. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,402
    Southlake, TX
    Full Name:
    Rob Lay
    everything you said is true, but it takes A BUNCH of demand for there to be stable, must less somewhat appreciating market. There could be a ton of demand for the cars and they could still slip back in prices. Just look at some other rare and nice exotics from the period that haven't been able to maintain even though they have tons of fans and demand.

    1988 Lotus Esprit

    Image Unavailable, Please Login
     
  20. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,402
    Southlake, TX
    Full Name:
    Rob Lay
    rdefabri and eyeman1234 like this.
  21. DINKFerrariOwner

    Silver Subscribed

    Jun 1, 2018
    49
    Full Name:
    Steve Basso
    Hi everyone
    well I just read most of this thread and I am also the HAPPY new owner (7 months) of an 85 308GTS QV. have been in love with this car ever since I was 10 years old. about 10 years +- I started looking into to purchasing one but by the time I was able to afford it the price would jump by approximately 24 to 30 % on average. That increase would force me to adjust my plan to make up for the added costs, which usually took me another year or 2 to save up. Then like clock work the price would jump again. this has happened a total of 3 times since I have been in the market to by one starting in 2010. when I started looking a like new condition with under 30k in miles was going for about $30K. fast forward to the last 12 months or so the same condition & miles have jumped to over $80K+. In order for me to get one, something had to give, because the prices just kept going up. so I got a Like new condition 308 with 46,427 miles at the time of purchase and no manuals, or maintenance history for 60K. so far I have put $4,300 dollars in to maintenance, and unfortunately I probably need to put another 5k to 8K to really get the engine and car in Brand new condition. I will need to obtain all the manuals and logs books at some point to help with the over all value. but that can be later after I build up the bank account again. haha

    So I guess the point i'm trying to make here is certain models of 308 will increase in value more then others. In the10 years I have been looking and research various years of my dream car I can say with absolute confidence this model car will increase. Like Brand new models with all requirements are now selling for $85K+ and as we all know there are a few that sell for mid 6 figures. Also like a few of you have mention these cars were personally design by Enzo Ferrari, were hand built and have hand stitched interiors. in todays modern Ferrari (all though AMAZING in their own right) world you just don't see that.

    As others have mentioned this is the MOST iconic Ferrari EVER made in my opinion. and maybe 35 years from now (when I will be to old to care haha) the 458 will be the most iconic, and a used one will be dirt cheap, to purchase used in comparison to today used price of around 225K. which is a car I would NEVER be able to afford to buy or fix. For now visually the 308 (& maybe the Countach) has to be one of the most beautiful body styles of all time. Granted the HP is weak at 240HP, and lets face it, the drivability is very awkward because of the cockpit and Euro shifting. but guys a 308 is 30+ years old, and back then this car was very advanced for it time. today not so much, but man is sounds so AMAZING.

    my only two complaints NOW that I finally own one: first the worst for me is the shift pattern. The person that thought it would be a good idea to put reverse to the left and up should be killed. Second why on earth would you sacrifice power steering in a race car to put A/C in it., especially a model like mine that has the targa top. I never take that car out in the rain or without taking off the top. A/C, who needs it, hell I don't even turn on the radio. one of the mose amazing aspacts is listening to that engine while shifting through the gears.
     
    eyeman1234 likes this.
  22. Nuvolari

    Nuvolari F1 Veteran
    Owner Silver Subscribed

    Sep 3, 2002
    6,370
    Toronto / SoCal
    Full Name:
    Rob C.
    Thanks for sharing your experience and congratulations on the purchase.

    BTW there is a very legitimate reason for reverse where it is. Race cars (and Ferrari's always draw on racing experience for their road cars) will never go into 1st gear when driving on the track and will only use 2nd-5th. By placing 1st where it is then the other 4 gears are much easier to access during a typical lap. Assuming your reverse lock out mechanism is working properly and not sticking, and your shift gate is not damaged or worn, then the reverse lock mechanism is very effective and the lesser used gears of 1st and reverse are in alignment and away from the other 4 gears.

    As for the steering, I find the steering on my 308 to be very light and power steering would be excessive. The A/C is essential as the front glass is quite raked which creates a lot of solar heat in the cabin. I have a GTB so the inside can get toasty and do not have the option of removing the roof. A lot of Euro cars do not have A/C but just about every North American car has it.
     
    ///Mike and eyeman1234 like this.
  23. Ian Bishop

    Ian Bishop Karting

    Dec 3, 2017
    156
    The more times this happens scarcity increases... after a while scarcity (especially of quality) impacts price, until demand fades. But you don't need many of the world's 7 billion people to want a car where maybe 3,000 were built, 2000 still exist (and shrinking), 1000 are in 3+ condition, and 20 of those come up for sale every year... And while there may be fewer cars in other brands out there, like TVR, Jensen etc... I agree there will be a demand for Ferrari and Dino branded vehicles for many generations to come.... there again, I don't really care because I enjoy owning, driving, and looking at the car. If it depreciates or costs more to maintain than I get out of it... so be it. At least I wasn't living with a car with no soul or emotional feedback like a Honda civic!


    Image Unavailable, Please Login
     
    eyeman1234 likes this.
  24. pizzadude

    pizzadude Formula 3

    Feb 20, 2001
    1,265
    Indianapolis, IN
    I could be wrong....but I don’t think Enzo “personally designed” the 308 or any of the street cars for that matter.
    From what I’ve read he didnt’ much care about the street side of the business as long as it paid for his racing.

    If I’m wrong I’m happy to hear it.
     
    JuLiTrO and eyeman1234 like this.
  25. miketuason

    miketuason F1 World Champ
    Owner Silver Subscribed

    Feb 24, 2006
    15,517
    Cerritos, CA.
    Full Name:
    Mike
    The 308's body was designed by Pininfarina's Leonardo Fioravanti but Enzo is definitely involve with the project.
     
    eyeman1234 likes this.

Share This Page