If you're considering an older Ferrari, you'd better buy it now!

Lukek....I take it you're married.

 

<<<<<< was talking to a guy the other day about a Porsche 928. They were the flagship Porsche of their day, and they made many of them. But unfortunately, they are just as expensive to repair today, and therefore the prices are low because of the repair cost versus non-rarity and therefore non-desirability. Can you imagine trying to take a "now late model Ferrari" into a shop 10 years from now for a total engine out service? They won't even have the "ancient" computers and appropriate codes to unlock the CD service manuals before they can even begin the repairs.>>>>>>>

As you mentioned, the problem with 928's is not that they're expensive to maintain. The problem is that they're expensive to maintain and, because they're luxury cars (not pure sports cars) their values have depreciated to the point that it isn't economically worthwhile to maintain them properly.

Most people looking to buy an old Porsche want a 911. Similarly, most people looking to buy an old Ferrari want a 2-seater (i.e., 308/328/348/355/360). 964 and 993 model 911's are just as complicated and expensive to maintain as 928's, but unlike the 928 remain economically worthwhile to maintain because they're sought after enough to keep their values relatively high. Similarly, because they're sought after, 2-seater Ferraris will always be worth enough to keep maintenance costs economically worthwhile.

If you want to compare the Porsche 928 to a Ferrari, try a 4-seater like a 400i/456/550 or 575. There are many 400i's that aren't worth the cost to make them right again, just like 928s. 456's, 550's and 575's are too new for this to be the case yet, but it is a real possibility down the road. The 360 will always be desirable.

By the way, I wouldn't be too worried about the electronics. There are many independent specialist shops that have already purchased the diagnostic equipment to work on early 996-model 911's and Boxsters that are no longer covered by warranty. I'm sure that the same is true for 348 and 355 Ferraris and will soon be true for 360 Ferraris. The cost of the diagnostic equipment has surely thinned out the ranks of independent specialist shops, but where there is demand there will always be supply.

 

And I used to laugh at the married guys !

 

Your argument makes sense. Note however that the 550/575 are 2 seaters.

 

The only 400i's on the market are the run down ones people don't want to put the money into. The great ones are owned by people that don't want to part with them. You rarely see a top notch car on the market, hence everyone thinks they are cheap and all basket cases.

When I saw the computer screen in the 612, I knew that I would never upgrade my 365 because I can still fix the things that break on it. I'll take mechanical bits over electrical bits any day of the week. I own a Mondial 8 to keep my electrical frustration at a high level.

 

I'll bet this is the case with a lot of ferraris. This seems to be the case with the $20K eBay 308 as well.

Birdman

 

About 6 years ago I traded a 1986 TR even for a 1967 330GTC. I sold it a couple of years later for $75k. I wish I still had that car!

 

Don't forget that the Mondial-T is a sought after 4 seater. Worth a few bucks too.

 

Well, to ask a few old hands at this, not that it matters a whole lot as I dont plan on selling....what you guys think a 77 308 GTB, no history, odo reads just over 50K miles, seats and interior a 9, body straight, no rust, may or may not need paint (keyed pretty good, verdict still out until I have it looked at by a detailer), with a completely overhauled engine and gearbox with reciepts and pictures, new 10.4 pistons, factory P6 cams, jet hot header coatings, pretty engine, Brembo brakes, etc. Whats it worth?? And if it had new paint?

 

$30k to $35k.. least that is what the market will bear now.


i have been harping about the early carb cars for some time now. i work on cars and aircraft. most of the new stuff really sucks to work on. i ENJOY working on the older cars....... the new stuff requires too many specialized tools for it to be fun and not cost a fortune. the pre 1973 muscle cars are $$$ now, some years and models are rare, even though MANY were made. they were all trashed and scrapped. emissions laws and insurance companies have a big bearing on the old car market. thank goodness for companies like Hagerty. i would rather have 30 grand in an old 308 thats slow, than tie up 30k or more in a new gee-whizz financed car. i plan on adding a few more to the stable this year, depending on work. yes they made alot of 308's..... but how many are left? looking at the cars Rutlands cuts up, and the 308 race cars, the websites that are full of burned and wrecked ones....... nice examples will become rare. i want a carb boxer before they all get exported. the weak dollar sucksand the cars are leaving, never to return. that is the ONLY reason why my GTB is for sale. i want a old carb Countach also. i would rather work my butt off and earn the right to buy an older F or L car than buy anything "newish". i am hoping as i learn more as a tech on these cars as a hobby, that i may network with others and learn more about the cars AND make new car friends. thanks to FCHAT for that!

i can afford a nice Testarossa, and a few others in that range. but i wont be buying one. as nice as 328's are............ not going to get one of those either. i believe ANY carb v12 is going to become sought after. as JUDGE4RE said, nice 365's 400 series cars dont come on the market often. yes they are expensive to maintain relative to thier resale, but so what. i know BUBBA's at work that have boats that have 10+ years of financing on the boats and engines. thats insane, given the depreciation. old cars when purchased smart will make you money . the things you learn and the friends you make are bonuses.


LONG LIVE CARB CARS!!!!!!!!!!!!!

 

a pic i took while filling up a car i test drove in sydney yesterday.

(that price is per litre )
Image Unavailable, Please Login

 

Cool shot.

So we're talking here about 12 bucks per gallon. Whoopie! And I see nobody pushing their cars to that gas station.

PS: Just refueled my car at $ 2.4 per gallon, in essence 60 cents short of Arlie's scenario and no riots here yet either.

 

Nah it's more like $3.40usd/gal (roughly), still not too expensive compared to some parts of Europe.

 

You still have the 330? Likely one of the better investments youve made in the last 10 years!

308GTB's for $30k. Sigh.....

 

If gas prices soar and Ferrari prices plummet, I would see that as an excellent opportunity to start my Jay Leno collection.

 

The title of this thread is still relevant today.

 

Great thread resurrection!

Time goes by fast. Hesitation is devastation.

 

Thanks for the resurrection.

Should be required reading for newbies posting in the market threads.