What's the $$ market for a red 328? | FerrariChat

What's the $$ market for a red 328?

Discussion in '308/328' started by Husker, Feb 8, 2005.

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  1. Husker

    Husker F1 World Champ

    Dec 31, 2003
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    I confess I know nothing of the 328 market. However, I can buy one from a gentleman here for $35K cash. I would assume it needs the full belt service. It has one oil leak he says he will fix, but I would figure to address that with the belt service. Red with tan, 22K miles, cosmetic condition is very good overall. Fair, good, great deal?
     
  2. BigTex

    BigTex Seven Time F1 World Champ
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    Uhhhhhh...year model?

    GTB or GTS

    You looking at the one in Dallas, that came with the Jag and 330GTC????
     
  3. BigTex

    BigTex Seven Time F1 World Champ
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    average deal.........

    For $35K I can put you onto a '76 Glass Red/tan

    OTOH, if you like it, get it! It sounds nice enough.....
     
  4. BigTex

    BigTex Seven Time F1 World Champ
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    Cavallino breaks down the 3X8 market fairly well, you can see the range there........
     
  5. FarmerDave

    FarmerDave F1 World Champ
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    Jul 26, 2004
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    IgnoranteWest
    Greg's is a 308qv
     
  6. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
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    1986 year model. It is a GTS (targa) version. All original. New Pirelli tires. Been 5 years since the belt service, so I would assume it is due. Recent new clutch. It's here in Amarillo for sale by a private individual.
     
  7. BigTex

    BigTex Seven Time F1 World Champ
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    Bag it, do the belts, see ya in New Orleans! :)

    No wait, big FCA party here in Houston, April..........
     
  8. BigTex

    BigTex Seven Time F1 World Champ
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    5 years is the current wisdom, correct.
     
  9. Mike328

    Mike328 F1 Rookie

    Oct 19, 2002
    2,655
    Boulder, CO
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    35k is a pretty good deal for this car, assuming no stories / no accidents. In fact, if it were openly advertised, it would probably be yanked right up, in my opinion.

    I use an 87 328 with 30k miles as a "median" benchmark. Your car is a bit older, but with lower miles, so it tends to even out a bit.

    You will need a belt service, probably (how many miles has it been?). The trouble is, at 22k miles, you're technically due for a 30k major service in another 8k which includes a belt change and runs 3k to 6k, depending on what you have done.

    No matter, though. In my (relatively disciplined, 2nd time around ibuying a Ferrari) search for a 328, if I found the car you were looking for, I would have identified as below market and would have bought it, assuming it was in the same condition as the one I got (pretty much perfect).

    The issue is, is it below market for a reason? Mine was slightly below market, because the seller was not as tied in to the market as a really, really agressive seller would have been; and he also wanted to get it sold.

    What's this gentleman's circumstances? Is he widely advertising the car, or is he keeping it low profile, just toying with selling it, and mentioned it to you?

    The other maintenance item is the clutch ($1k to $2k, $1500 median). In my search I saw a lot of 328s with clutched done in the 15k to 20k range (waaay to early, if you ask me!).

    If this is your dream, and the car is sound, and you have the cash, do it. You could probably sell it for more (as long as it has no hidden issues). I have found the 328 to be a very well built machine and very reliable. I'll have it for a long time to come, and this is a common sentiment among 328 owners.

    Good luck!

    Edit: I see you mentioned the car had a recent clutch, and a set of new shoes (tires). Yeah... If the car has been serviced, and has had no accidents, this is certainly a better-than-fair price in my opinion. A dealer would do a major service on it, give it a nice wax job, ask 50k, and sell it for the first 47.5k / 45k.
     
  10. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
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    Mike...very helpful info. I'm looking at the car tomorrow and I will let everyone know the outcome. I actually have a 348 so this would be an additional Ferrari for me - something I need like a hole in my head!
     
  11. BigTex

    BigTex Seven Time F1 World Champ
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    No, no you've got it all wrong!

    You need a SPARE one, for when they call for public appearances and the first one is "in the shop".......

    That's what I decided anyway!


    As you know it's 'condition, condition, condition'.....

    Heck, it sounds like a brand new car, to me!
     
  12. BigTex

    BigTex Seven Time F1 World Champ
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    A clutch can last 20K miles, or one parade = 20 burnouts.
     
  13. JSL

    JSL Formula 3

    Jan 5, 2002
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    You really DO NEED an extra Ferrari. Mine has been down since I sent the wheels and ruined the ones on my car. The new wheels just came today so I'm on my way to recovery. I remember the good old days when I had a 328 and a 348 in the garage. If one went down, the other was always available. I've been down now for over a month. Oh the pain! Go for is, the price sounds pretty good to me. The service on a 328 is a lot easier and less expensive then your 348. I miss my old 89 328! (Not that I don't love the 355)
     
  14. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
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    A guy I kow sold an 87 R/B last year with about 24K on it, new service for 43 or 44K. I have forgotten precisely. It was a good, no stories car with good history. This car needs a service certainly. Question is, what else? If you can get someone to do a PPI, that would be great. Get a carfax done. It is, however, probably a good car. After a service and inevitable "while I'm at its" you should be in 40-42K which would be good. Don't sweat the oil leak unless it's bad. Oil leaks are inevitable.

    DAve
     
  15. BigTex

    BigTex Seven Time F1 World Champ
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    Yea, I keep mine parked on gravel........what leak???????
     
  16. Chiaro_Slag

    Chiaro_Slag F1 Veteran

    Oct 31, 2003
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    If the car is in nice condition, that is a good deal.

    Hope all goes well, good luck!
     
  17. Gatorrari

    Gatorrari F1 World Champ
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    Feb 27, 2004
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    I paid the exact same price for my '86, and it had had a service done recently as well as a new oil cooler. The owner was planning to move and just wanted to sell the car to an "enthusiast" (which I guess I convinced him that I was!), so price was not that important to him (his other car was a Testarossa!).

    The only real problems the car had were a torn inner rear CV boot (since fixed), worn bushings throughout the suspension (replaced on the rear, pending on the front), leaking shift shaft seals (next to be replaced) and rather old and hard tires (since replaced). There are a few niggling problems with interior pieces but those are not a big deal. By the time I take care of these problems (none of which affect the car's driveability) I guess the "real" cost will be closer to $39k than $35k, still a good price IMO.

    And I should point out that my car had about 48k miles on it, now closer to 52k.....
     
  18. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
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    I went at lunch today to view the 1986 328. Here is what I found:

    - Interior quite dirty; seats need a re-dye
    - chrome (but factory) wheels - yuck!
    - a number of dings here and there
    - 31K miles instead of the 21K that he told me
    - no records before 2000
    - belts and clutch changed in 2000; only 1,000 miles put on the car since 2000.

    Says he's asking $35K with little room for negotiation.

    This car reminds me a lot of my 82 308. I know the performance is much better. However, it is hard to believe that my 348 is only 4 years newer than the 328. It seems like 20 years. Not to knock 328's but it seems like an "old" car, while the 348, just 4 years newer, seems completely modern.
     
  19. Sean F.

    Sean F. F1 Rookie

    Feb 4, 2003
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    Have a PPI with a leakdown or compression check done. If everything comes back OK, $35k for that car is a fair price. Most 328's in good condition seem to be going for closer to $40k range.

    Please don't tell me you're suggesting that if he had the belt service done now, then put 8000 miles on it in the next two years he'd have to turn around and do it again? If so, please explain the thinking behind this...once it's done, it's done and good for 5-years and 30,000 miles AFTER the service is done, not once the car reaches 30,000 miles.

    But the car has 31k on it anyway so the 30K needs to be done regardless. The fact that it's been sitting for 5-years with little driving pushes getting the belts done more than anything else.
     
  20. BigTex

    BigTex Seven Time F1 World Champ
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    So...NOT the door buster good deal we thought it was. More like average deal.

    I think we need to start driving the belts to failure, noting the elapsed years and mileage.

    We'll build a quantitative data base that way, and get real good at engine rebuilds........
     
  21. Husker

    Husker F1 World Champ

    Dec 31, 2003
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    Tex...to be perfectly honest, I think we'd all save a boat load of money that way! ;)
     
  22. BigTex

    BigTex Seven Time F1 World Champ
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    I'm serious!

    All this changing of belts every time it sells is rediculous!

    I've been 4,000 miles on 12 year old belts and it was the melting fuse blocks that finally put it in the garage last week!

    I mean, c'mon.....one poster noted a car that had never had belts in twenty years...he had SAVED enough money to buy the engine!!!

    I'm really just joshin', sorry this wasn't a cream puff and a steal of a deal.
    Still thinkin' about it???
     
  23. johnbob

    johnbob Karting

    Nov 8, 2003
    124
    Oklahoma
    Belts every five years makes great sence for the dealer. Non of the 4 Ferrari owners manuals that came with the cars I have purchased ever recommended replacing the belts after 5 years.
     
  24. Husker

    Husker F1 World Champ

    Dec 31, 2003
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    Tex...no. I don't need another "project" car.

    As for the subject of belts, when I bought my 1982 308 in 2002, it was running on the original belts. 21 years old. But hey, it hadn't yet reached 30,000 miles!!!

    The "belt change every 2,3,5,7 years" promulgated by Ferrari is a ruse. Pure and simple. You either buy into it or you don't. I don't.
     
  25. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
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    With few records, an old service, and dirty interior, I wonder if 31K is correct mileage. I know from experience that 328 interiors hold up very well-better than 308's or 348's. Exterior chips wouldn't bother me much, especially in Amarillo. CArs get chipped quickly here in Colorado also. However, this does not sound like a well cared for or loved car and I suspect there are more problems lurking. I would rather buy a well cared for, freshly serviced example for 40-42K.

    Dave
     

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