Please explain to me a $111,000 355 | Page 4 | FerrariChat
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Please explain to me a $111,000 355

Discussion in '348/355' started by Ferrari Fanatic, Jan 29, 2019.

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  1. Ferrari Fanatic

    Ferrari Fanatic Formula 3

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    #76 Ferrari Fanatic, Jan 29, 2019
    The issue with paying a huge premium on anything is that there is still no guarantee that you will not have to put more money into your investment.

    It’ should the basic premise of any prudent buyer. Acquisition Cost should leave room for margin of error. The unknowns. This is not a one and done.

    A $111,000 car could soon be a $131,000 if things go wrong. That number would be insanely unpalatable !
     
  2. mchas

    mchas F1 Veteran
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    #77 mchas, Jan 30, 2019
    Keep in mind there is a $5k fee on top of the purchase price too, so he really paid $116k for this car.
     
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  3. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    Jul 2, 2017
    10,228
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    #78 Natkingcolebasket69, Jan 30, 2019
    But then age is too right? Rubber etc age doesn’t discriminate


    Sent from my iPhone using Tapatalk
     
  4. PeteyDaddy

    PeteyDaddy Karting

    May 25, 2017
    133
    #79 PeteyDaddy, Jan 30, 2019
    Last edited: Jan 30, 2019
    Good to see the #. I wouldn't let mine go.. I think its very special. 993's are good looking cars and I've owned a few but to me theyre not on this level :) it's one of those cars you can just sit and stare at with a cup of coffee. Image Unavailable, Please Login

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  5. ttforcefed

    ttforcefed F1 World Champ
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    #80 ttforcefed, Jan 30, 2019
    And ur totally wrong for 97 percent of all cars


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  6. Smiles

    Smiles F1 World Champ
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    Nov 20, 2003
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    Matt F
    #81 Smiles, Jan 30, 2019
    I think that the price is a testimony to the value of good photography on BaT.

    Matt
     
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  7. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

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    #82 Natkingcolebasket69, Jan 30, 2019
    Well said! Totally made the difference on that one. That and a thorough presentation


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  8. hammergb

    hammergb Rookie

    Sep 2, 2017
    36
    Westminster, MD
    #83 hammergb, Jan 30, 2019
    i dig grandma on the roof lol

    Sent from my SM-G930V
     
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  9. sixcarbs

    sixcarbs F1 World Champ
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    Dec 19, 2004
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    #84 sixcarbs, Jan 30, 2019
    I'm sorry. The yellow car in the link above is not a "No stories" car. It's modified, has an open recall, and has issues with the roof opening and closing. Plus it's yellow, not black. I know they are both less common than the red but personally I think the black is more desirable. It's a '97, not a '99. Seller also notes leather trim pulling away and some bodywork to repair a dent in the back. The yellow car wasn't even registered for 4 years.

    The black car for $111,000 is the last year, so it has all the little factory improvements. It had 3 major belt services since new. It was really pampered. The black car is truly a no stories, benchmark car.

    Did the buyer pay too much? Maybe a little, but not a lot.
     
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  10. PeteyDaddy

    PeteyDaddy Karting

    May 25, 2017
    133
    #85 PeteyDaddy, Jan 30, 2019
    R.I.P aunt Edna. My 355 shares storage with a queen family truckster in rare metallic pea green :)

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  11. hammergb

    hammergb Rookie

    Sep 2, 2017
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    #86 hammergb, Jan 30, 2019
    does it have the double stacked headlights

    dude you need the Tartan Prancer big time

    Sent from my SM-G930V
     
  12. Ferrari Fanatic

    Ferrari Fanatic Formula 3

    Apr 2, 2003
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    #87 Ferrari Fanatic, Jan 30, 2019
    Totally agree. The photos and video played a big part.

    BAT 101 in its strongest force, I guess.
     
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  13. PeteyDaddy

    PeteyDaddy Karting

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    #88 PeteyDaddy, Jan 30, 2019
    Lol yeah its mint. Image Unavailable, Please Login

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  14. Ferrari Fanatic

    Ferrari Fanatic Formula 3

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    #89 Ferrari Fanatic, Jan 30, 2019
    I agree the Yellow one was not the same car a the black one. But a 59% premium is ludicrous. Was using the yellow one as a recent sale on BAT.

    Just like in real estate the sale needs to be recent.

    Just like in real estate you are trying to do a paired analysis. Problem is you will likely never find two exact cars or houses that are exactly alike and sold around the same time.

    That is why there are always adjustments up and down from the comparable.

    In this case I can’t wrap my mind around paying a 59% premium.

    I get that it’s a nicer example. The issue for me is that the 355 is not a true classic yet. With the real collectibles there is so much validating documentation and verified history that paying a premium makes sense.

    Maybe it’s a new trend that the 355 will finally become a true collectible.

    If that’s the case I am keeping mine for sure.

    PS. The yellow 355 I am pretty sure was owned and serviced by one of the very respected 355 gurus on this forum. I forget his User Name but he definitely knows his stuff and is well respected.
     
  15. ttforcefed

    ttforcefed F1 World Champ
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    #90 ttforcefed, Jan 30, 2019
    it took 2 bidders for the car to get to where it sold. yellow car is a ****box. whether the premium is 40 or 60 percent its irrelevant.

    the point of the whole story is if you cant find a sub 15k mile clean maintained car for 80k....30k mile maybe but not 15k.
     
  16. ttforcefed

    ttforcefed F1 World Champ
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    #91 ttforcefed, Jan 30, 2019
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    BMW OEM DOOR HANDLE COVERING REAR L & R
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    BMW OEM FRONT OUTER WEATHER STRIP L & R
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    RIGHT EURO TAILLIGHT
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    new clutch
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    uuc short shifter
    stoptech rotors
    contour wheels
    moldings
    re manufactured driveshaft
    bbms wheels
    new stereo/speakers/amp
    alcantara headliner and and all pillars and sunroof cassette rebuilt

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  17. ttforcefed

    ttforcefed F1 World Champ
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    #92 ttforcefed, Jan 30, 2019
    how much did you pay for your 97 and how much have you put into it?
     
  18. alexion

    alexion Formula 3
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    #93 alexion, Jan 30, 2019
    WOW! That's a restoration! It certainly adds up fast, but it looks like money well spent in all the right places. Curious about mileage and where the car is from? Were a lot of those seals totally necessary or did you just want to get it perfect?
     
  19. ttforcefed

    ttforcefed F1 World Champ
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    #94 ttforcefed, Jan 30, 2019
    the car was serviced the crap out of....full service history from new....
    https://bringatrailer.com/listing/1998-bmw-m3-sedan-12/

    yes age and miles deteriorate everything.
     
  20. alexion

    alexion Formula 3
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    #95 alexion, Jan 30, 2019
    Nice to see it's in good hands. Looks well bought and I think it's the next M car to creep up in value over time.
     
  21. ttforcefed

    ttforcefed F1 World Champ
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    #96 ttforcefed, Jan 30, 2019
    yes clean low mile are at and above msrp....
     
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  22. DarkHorseTerence

    DarkHorseTerence Karting

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    #97 DarkHorseTerence, Jan 30, 2019
    Come on guys - be real - every car is individual - some need nothing - some need 30k - some need 50k. Its all relative. Blanket statements like this just fuel peoples misconceptions.
     
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  23. Ferrari Fanatic

    Ferrari Fanatic Formula 3

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    #98 Ferrari Fanatic, Jan 30, 2019
    Bought my 1998 in 2003 when the car was only 5 years old. The original owner traded it in. I bought it from an FNA Dealer. They installed new tires, did an engine out service, a Tubi, a water pump and a clutch. Entry point was Notth of 100k.

    Bought my 1997 in 2008. All in, I am South of 80k.

    Timing is everything. I hope this $111,000 is a trend and a new bench mark.
     
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  24. DarkHorseTerence

    DarkHorseTerence Karting

    Oct 25, 2012
    82
    #99 DarkHorseTerence, Jan 30, 2019
    Agreed!

    In the UK people can ask £60k for a well restored 1960s Mini Cooper! Yet the 355 market starts around the same money - crazy IMO!
     
  25. jeffreyhardesty

    jeffreyhardesty Rookie

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    #100 jeffreyhardesty, Jan 30, 2019
    Value always is in the eyes of the buyer. What you think it is worth as an owner is irrelevant, except the joy you get from owning and driving one. I have a F355 that I purchased in 98 and I love mine. Getting into the mind of a buyer is difficult.
    I hope the buyer got a vehicle he loves.
     
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