308/328 Purchase Price vs Asking Price

totally agree 10/20% that comes out to be in high 60s to mid 70s

 

Here’s one from mecum today
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This is what it did no sell maybe later
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I saw that. Stalled out at $70K. Another data point for getting prices down during negotiations.

 

This is a good thread. Thank you to all for the good thoughts, as my search for a 308 or 328 continues. I too am in agreement with furmano in regards to the condition, tools, spare, manuals, maintenance, tires, mileage.
It appears Ferrari dealers are asking high prices. Maybe they do not mind have inventory on hand for extended time periods.
One pondering question. If a Ferrari dealer is selling say a 308 or 328(be it trade-in or consignment}, would one expect that car to be up to date with service maintenance ? To what extent would the tech address issues which may come up, say oil cooler hoses, transmission jumping out of gear, oil leaks at cam cover, etc?

 

My experience was the dealer was up front on their cars: what maintenance was done and what maintenance was coming up.
The salesman was even up front on a newer car I was interested in and advised me not to purchase the newer f-car (I think it was a 348 or 360).
I had a wonderful experience with the dealership I bought my 1986 328 from. No, I did not have a PPI done. I trusted the dealership and knew I could go back if I had any issues.
Now, these cars are 30 years and older. Most of my vehicles are older. I don’t kid myself but anything can break or go wrong. Plastic will become brittle, electronic can go out, etc.
I also did somewhat low ball the car I bought. I monitored it through their website. They has two or three 328s. One of them was the owner’s car which had the highest price tag. I set my sights on the lowest 328 because it was a US spec with Euro mirrors, had a major (belts etc) service done with a year, had a full size spare tire and previously came from a car family which I assumed did not abuse their cars while they had them. The dealership did not take my first offer but then called back after two weeks and the deal was done.
After I paid and wanted to pick up the car a coolant hose disconnected. The salesman said that they would fix this and a hazard switch (which did not work)— it was free of charge.
Sorry for the long reply, but there are good and great dealerships and salesmen out there.


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congrats how many miles on the car

 

43k miles.


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Got it down to two cars. Both ends of the spectrum to some extent.

#1 https://www.dupontregistry.com/autos/listing/1988/ferrari/328/1895752 , 7 owner car, needs a major service next year, new interior, 30k miles, books, tools, service history from mid 90's.

#2 Ad expired. 1986 Blk/Tan, 54k miles, 3 owner California car, books, tools, service history since early 90's. Interior looks worn and needs attention. Exterior is between a #2 and #3 car. Needs major service in about 1 1/2 years so basically the same. Dealer asking $60K.

#1 is the more complete car but significantly higher priced. If dealer doesn't drop down 20%, then I have no choice but to pass. I am looking for something to drive, not sit in the garage so #2 will work as well. Just needs a little more TLC.

 

Yeah I’m pretty certain a 20% price drop isn’t in the cards. Just headed into spring and the 3x8 seems to be on alot of people’s lists. In fact, seeing more attention over the last 6 months then I can remember for a long time.

 

FWIW...overhere in France, the tacitly admitted "norm" for negociating the price of second-hand high end cars, second-hand vintage sportscars, etc...is usually "about 7 to 8%" under the asked price: such an offer wouldn't astonish nor hurt anyone and is a good basis for negociation. Lower than that can be considered "outrageous", if not justified by a serious issue such as obviously defered maintenance, etc...
Fellow 328 owners (such as F-Chatter Bertrand for instance...) do agree however that there is no "market" in the true sense of the word these days: after the spike in prices with the excesses of 2015/2016, no-one knows what the right price would be for a nice 328, as there are so few sales and furthermore, the prices are usually not disclosed. So you are basically back to condition: if the car seems to be the right one (condition; maintenance; books, tools, etc...), then it is costing whatever it is costing, the price will soon be forgotten.
(Very low mileage "time capsules", usually MY '89, do continue to appear from time to time nevertheless, at about 180 to 200.000 euros...)

Rgds

 

Hmmm. I'm sure there is truth to what you say. I have logged many hours creating spreadsheets, and reviewing auctions and Fchat sales from 2016 until now. While there aren't hundreds of data points, the few dozen that I have been able to find all suggest lower prices by far than what is being asked. There are some cars sitting on the market for 2-3 years. If that isn't an indication of a high price, I don't know what is.

It is just frustrating to have people say they are wanting to sell but demanding, IMO, very high prices. Oh well. I'll keep searching.

 

I would mitigate about the cars sitting for long; it is the same over here, some cars have been on the market for years. But it doesn't come from too high a price, it comes from "too high a price regarding the condition/service history, etc of the car offered". The "excellent" to "exceptional" cars do sell, provided the seller is not too greedy; a question of adequation beteween "condition" and price, I would say. Usually (not always, but usually) these cars change owners without even entering the traditional advertising circuit.
That being said...the market here (I wouldn't say anything about the US) is in the doldrums indeed, so it is very difficult to ascertain any guideline or tendency.

Of course, if price is not a factor at all, then exceptional cars are available indeed:
https://www.classicdriver.com/de/car/ferrari/328/1989/659160


Rgds

 

from nerofer:
"...there is no "market" in the true sense of the word these days: after the spike in prices with the excesses of 2015/2016, no-one knows what the right price would be for a nice 328, as there are so few sales and furthermore, the prices are usually not disclosed. So you are basically back to condition: if the car seems to be the right one (condition; maintenance; books, tools, etc...), then it is costing whatever it is costing, the price will soon be forgotten."

+1
And as they say: the price is whatever people will pay...

 

Here is an example of a stunning car that has been listed for a while due to a slightly 'greedy" owner...

https://www.carsales.com.au/cars/details/Ferrari-328-1989/SSE-AD-5979075/?Cr=0

 

Does anyone have a good handle on Vetroresina's right now?

I'm going to represent a '76 US Spec GTB, but feel like these have really dropped off from 2015-2017 prices.

Interested in thoughts, I put together a small snap shot of the last 2 years (but based on big auction houses...)

Ferrari 308 Vetroresina Sales 2018-2019
Venue and Date Price (USD) Condition Color Chassis Location
RM Sotheby's Paris, February 2018 $143,658 Excellent/OE Azzuro Metallizzato 19751 Paris
Gooding and Co. Amelia Island, March, 2019 $109,760 Original/Unrestored Silver 19739 Florida
Gooding and Co. Amelia Island, March, 2018 $250,000 Concours Euro Spec Blue 19377 Florida
RM Sotheby's Monterey, August, 2018 $184,800 Excellent/Classiche Yellow 19579 California
Bonham's Arizona, January 2018 $127,500 Good Red 19433 Arizona
Bonham's London, December 2018 NO SALE $120,889 Good Red 20543 London