Has 328 price hit a new low? | Page 2 | FerrariChat

Has 328 price hit a new low?

Discussion in '308/328' started by dinoart, Apr 23, 2020.

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  1. mike996

    mike996 F1 Veteran

    Jun 14, 2008
    6,685
    Full Name:
    Mike 996
    Never had great luck with that either. :( Only way I ever managed to make any money was to have a job! :) I did briefly consider buying some stock in Apple back when it was 5 bucks a share but decided that was a stupid waste of money! Like I said, never had much luck in stocks! :(
     
    Saabguy and ferrariowner like this.
  2. MFlanagan

    MFlanagan Karting

    Dec 21, 2016
    153
    Zeus, there is the issue of License & Insurance, too! I think investing in the fun of it is the only way to make any sense of "Fancy Cars."
     
  3. GTHill

    GTHill F1 World Champ
    Lifetime Rossa Owner

    Jul 1, 2006
    14,053
    Double Wide
    Full Name:
    GT Hill
  4. Zeus

    Zeus Formula 3
    Silver Subscribed

    Apr 28, 2007
    1,074
    Palm Beach
    Full Name:
    Lawrence
    I agree 100%. I've never owned a "fancy" car that made sense as an investment. I buy them to drive them. You only live once.
     
    1stFerrari@71 and mcimino like this.
  5. Saabguy

    Saabguy Formula 3
    Silver Subscribed

    Mar 28, 2012
    1,753
    Shreveport, LA
    Yeah, when they were at $ 5 I knew that it would make money but I didn't have two pennies to rub together.

    Lester

     
  6. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,407
    Southlake, TX
    Full Name:
    Rob Lay
    I had one of those Norwoods that was over 24 months because it took them that long to get the interior restored and major done. This invoice may be something different though.
     
  7. LuigiVampa

    LuigiVampa Karting
    Rossa Subscribed

    Jan 17, 2020
    65
    Full Name:
    Todd
    There is nothing more expensive than a cheap vintage car, especially Ferraris!
     
  8. thorn

    thorn F1 Rookie
    Silver Subscribed

    Aug 7, 2012
    3,322
    Tallahassee, FL
    2 Years? Holy frack, were they growing the cows behind the shop?
     
  9. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,407
    Southlake, TX
    Full Name:
    Rob Lay
    it was a respected 3rd party interior shop in Dallas, a bad deal. They did a good job at least.
     
  10. Steelton Keith

    Steelton Keith F1 Veteran
    Owner Rossa Subscribed

    Aug 19, 2009
    6,558
    Raleigh NC
    Full Name:
    Keith Hall
    One owner's experience: Yesterday I put on my mask and took the 87 GTS down for annual state inspection at the local garage (my terrific mechanic doesn't have an inspection license). The guy looked at me and my car, did not make me pull it into the service bay, asked me the mileage, never asked for or looked at another thing, certified the inspection and I was out of there in 10 minutes, but not before every other guy in the garage came out, looked at the car and got my OK to snap pictures. My 328, with almost 70,000 miles, is solid as a rock and as beautiful as they come. I can't imagine ever selling it. I did not purchase the car (over 10 years ago) to make money on it, to fret about its year to year value, or to impress anybody. I bought it to drive it and to admire its beauty. Amen.
     
    2cam, readplays, tuttebenne and 3 others like this.
  11. ferrariowner

    ferrariowner Formula 3

    Feb 21, 2014
    1,109
    Mansfield, TX
    Full Name:
    Ron
    I have had a similar experience with inspection. I have had them inspect my car and not even charge me. Its only about $5 here in Texas for safety inspection.
     
  12. Rick Weston

    Rick Weston Karting

    Mar 6, 2019
    126
    Full Name:
    Richard Weston
    Did you look at the service invoice? Dated from 2015 yet paid in 2017 looks sketchy to me. Also, anyone considering purchasing one of these needs to have a pre-purchase inspection done. Then you have a sense of what you are getting into. These vintage Ferraris are not cheap to maintain. The belt service done every couple of years are brutal in terms of labor costs.
     
  13. gvpilot

    gvpilot Rookie

    Mar 31, 2014
    7
    Having looked at their offerings many times, I find this to be correct. Drivers.
     
    19633500GT likes this.
  14. Brian A

    Brian A F1 Rookie

    Dec 21, 2012
    3,079
    SanFrancisco BayArea
    Full Name:
    1983 US 308 GTS QV
    … but costs $80 if you do it yourself.
     
  15. mottcom

    mottcom Rookie

    Dec 23, 2014
    7
  16. Stuart Jones

    Stuart Jones Rookie

    Nov 21, 2019
    2
    Full Name:
    Stuart Jones
    I'll wager 3X8 prices will be well below 50K for a very nice one soon enough. Once the availability of cars exceeds the demands of buyers, then prices drop quickly.
    Have you seen how long 3X8s are on 'for sale' adverts for at the moment? Months and months.
    Speaking as someone who sold a very nice 308GTB for £22K about 15 years ago.... I sold it as it needed about 5K in bodywork and potentially an engine rebuild ... it smoked a little (was told to budget 10K) .... I was a perfectionist and wanted a concours car. I couldn't see it would EVER recover 15K spent on it. That car sold several years ago, untouched, for £65K. So the market goes up, and the market comes down.
    When they're back well under 50K I'll be back in the market for one.
     
  17. pizzadude

    pizzadude Formula 3

    Feb 20, 2001
    1,265
    Indianapolis, IN
    I don’t foresee you being in the market for one Stuart.
    At least not one that doesn’t have a lot of issues at “well under 50k”
    I could be wrong though. I’m sure others more market savvy that me can chime in.
     
    308 milano, Dane and bertrand328 like this.
  18. mmyhorses

    mmyhorses Rookie

    Apr 10, 2020
    33
    Coral Gables, FL - USA
    Full Name:
    Miguel
    Just want to point out his 50k (pounds) is close to USD65k. I agree with you and don’t see a good one coming out in the US for “well under” 65k dollars anymore.


    Sent from my iPhone using FerrariChat.com mobile app
     
    Dane likes this.
  19. nerofer

    nerofer F1 World Champ

    Mar 26, 2011
    11,968
    FRANCE
    And furthermore, well...ahummmm; not every couple of years, is it? I thought the whole forum agreed it is every five years nowadays....
    Well, I'll admit it: guilty of baiting!:)

    Rgds
     
    pizzadude, Brian A and 308 milano like this.
  20. crixer

    crixer Rookie

    Mar 27, 2010
    39
    My friend bought this in 2017 and I strongly advised him not to. He stashed it in my detached garage and I helped him start working on it as it had a seized water pump. He got busy with work and progress was slow and he passed unexpectedly last July. It was time for the bank to come get it but I wasn't ready to let it go and negotiated a price I could stomach. It doesn't appear to have any rust in the important places. I will be doing everything myself. I will have to send things out to be redone like CIS, plating of things, powder coating things, etc. It will be a long term project and I am going to start back on it this weekend. I have another thread about it.

    This was the BHCC ad for it:
    https://www.beverlyhillscarclub.com/1987-ferrari-328-gts-c-6637.htm

    While it isn't mint, it isn't in as bad of condition as I thought. The first thing I need to do is replace drive pulleys. Those appear to be the worst part of the car as they have rusted pretty bad. Bad enough that I wouldn't trust them to not jump a rusted a$$ tooth. I think it looks to be in better condition than the subject of this thread.
     
    readplays and JLF like this.
  21. 308 milano

    308 milano F1 Veteran

    Jan 15, 2007
    5,257
    Montana
    Full Name:
    Kim
    Crixer, sincere condolences for the loss of your friend. Sounds like you two had a special bond. Now get that machine running and take it for a spin in honor of this gentleman.
     
    readplays likes this.
  22. JLF

    JLF Formula 3
    Silver Subscribed

    Sep 8, 2009
    1,635
    Sorry about friend. The car is beautiful in that color.


    Sent from my iPad using FerrariChat.com mobile app
     
    mmyhorses and readplays like this.
  23. bertrand328

    bertrand328 Formula 3

    Jun 1, 2015
    1,477
    France
    Full Name:
    Bertrand
    Crixer, Sorry for your friend. It's look like pretty rare Blu Chiaro, I looked for it ( in Europe ) and missed one few months ago. Do you know what happened to this 24k miles car to be in this bad condition ?
     
    readplays likes this.
  24. yelcab

    yelcab F1 World Champ
    Consultant

    Nov 29, 2001
    12,661
    San Carlos, CA
    Full Name:
    Mitchell Le
    I think you got it "for a song" so a double discount, as it were.
     
  25. crixer

    crixer Rookie

    Mar 27, 2010
    39
    Thanks everyone. I have a thread about it, I am about to start updating it. Parts are on the way and I am about to get to work on it. I will be happy if it at least cranks. I don't know what happened to the car. I am in the process of tracking down previous owners and information. I think I did get it for a song but the purchase price is just the admission ticket to the financial horror show. Since purchasing it, I have spent 1200 dollars in just seals, gaskets, washers, odds and ends, new battery tray, etc. I spent the weekend cleaning the carpets.
     

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