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1979 308GTB $20K

Discussion in '308/328' started by Bxtech, Mar 11, 2010.

  1. rdefabri

    rdefabri Three Time F1 World Champ
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    Jun 4, 2008
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    Rich
    I am just investigating - a little poking around can yield clues, and so far this one appears more trouble than it's worth. I've been looking at 308s for nearly 20 years, no red fever, so I'll never make a rash judgement. It's why I say after years of looking for a Ferrari, I ended up with a Jaguar :)
     
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  3. 8KRedRacer

    8KRedRacer Karting

    Jun 7, 2007
    196
    Georgetown, KY USA
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    Alan Bennett
    I purchased a 79 GTB in similar for condition for $14K in 2003 except the car was in fair running condition. I spent an additional $22K for suspension, paint, euro look, and the engine.

    I looked at the sale of a car like this a little different than most on this forum. First, when finished with the restoration the car will be completely sorted. You know precisely what the condition of the car is. Second, I could pay for the restoration incrementally over time rather than coming up with a large upfront cost. But, with a car like this one does run the risk getting into some cubic ($$$) restoration cost for unknown issues.

    Cheers,
    Alan
     
  4. Champboat/Champcar

    Champboat/Champcar Formula Junior

    Jan 29, 2007
    875
    Freeport NY
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    Eric T
    You should check out Gullwing motor cars in Astoria NY they have a 308 Ferrari fotr $20K and it runs and drives , the interior is worn , Should be a better car ,
     
  5. tommott77

    tommott77 Formula Junior

    Feb 1, 2009
    652
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    Tom
    Is this the one?

    http://www.gullwingmotorcars.com/detail-1978-ferrari-308gts-used-5021290.html

    I have always kept an eye on their website. They always seem to have some cool project cars for sale. Do you happen to know if the are co-signer or actually keep all these cars on their lot? If they actually have all of these cars on their lot I would definitely have to consider a trip to check this place out sometime.
     
  6. Amnster

    Amnster Karting

    Jul 25, 2005
    66
    NorCal
    Funny. I'm on the west coast looking for a car on the east coast and people on the east coast are looking for a car on the west coast.
     
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  8. ace_pilot

    ace_pilot Formula Junior

    Sep 6, 2007
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    Long Island, NY
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    George
    That's one ratty 308 there with gullwing. They're also asking 26k. 70k miles, who are they kidding?

    Ace
     
  9. MBFerrari

    MBFerrari F1 Veteran

    Jul 2, 2008
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    Matt B
    #32 MBFerrari, Mar 13, 2010
    Last edited: Mar 13, 2010
    That thing is a mess. Look at the interior. W o w. That is going to take a LOT of money to get even reasonably ok in there...and yikes, just saw the engine compartment.

    Let me tell you prospective buyers a little hint. The 308 I purchased looks MUCH better than this, and I am about to dump more than I would ever hope into it to get it to run properly and then to be in the condition a Ferrari should be in, and again, it was at a starting point much better than this one.

    Be scared. Be very scared.

    MB
     
  10. Champboat/Champcar

    Champboat/Champcar Formula Junior

    Jan 29, 2007
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    Eric T
    Its has to be a better deal than the yellow car that has the motor apart , ( no carbs + no timing belts) that motor could be very broken ,+ the interior is apart? , I bet you could buy the Gullwing car for far less than the asking price , I am just pointing out some other available cars in the area .I hate just dumping money into cars , i would rather drive a car thats not perfect than wait months or years to get it perfect than be scared to take it out . , but thats just me , if the motor runs good ,thats half the battle won .
     
  11. rdefabri

    rdefabri Three Time F1 World Champ
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    #34 rdefabri, Mar 14, 2010
    Last edited: Mar 14, 2010
    Personally, I don't really want a project. No issue with a driver car (eg, high miles or not showroom cond).

    The car out west apparently has all the bits but needs reassembly, which I could do. The Gullwing car is more ratty. I already know of a Euro QV that is fantastic that I could get for a similar price. It's not the color or wheel/tire combo I want, so I respectfully passed on it.

    In this economy, I have to believe there are nice $25k examples out there.
     
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  13. Champboat/Champcar

    Champboat/Champcar Formula Junior

    Jan 29, 2007
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    In this economy, I have to believe there are nice $25k examples out there.[/QUOTE]...................I would think so also , except in my case , if I had $ 25K for a 308 Ferrari, there would be none available for that price, if I didn`t have the cash , there would be a few nice examples to chose from , But I hope you find one in your colors . Good luck
     
  14. rdefabri

    rdefabri Three Time F1 World Champ
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    ...................I would think so also , except in my case , if I had $ 25K for a 308 Ferrari, there would be none available for that price, if I didn`t have the cash , there would be a few nice examples to chose from , But I hope you find one in your colors . Good luck[/QUOTE]

    It always seems that way with me too :)

    They say patience is a virtue!
     
  15. BigTex

    BigTex Seven Time F1 World Champ
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    Dec 6, 2002
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    Bubba
    ...................I would think so also , except in my case , if I had $ 25K for a 308 Ferrari, there would be none available for that price, if I didn`t have the cash , there would be a few nice examples to chose from , But I hope you find one in your colors . Good luck[/QUOTE]

    The problem with this statement, IMO, is you are following the depreciation curve info, to get to it...

    The fact of the matter is, as years go by, there is fewer "nice ones" or even decent project cars, for any amount of money.....

    And there's very few "even 308 owners" that are in a panic to dump a good car in a panic sale.....
     
  16. furmano

    furmano Two Time F1 World Champ
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  17. rdefabri

    rdefabri Three Time F1 World Champ
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    Conversely, there's very few buyers in a panic to buy.

    I had a Datsun 240Z I sold - didn't need the money, could have kept the car forever. I resolved to sell it to make room and focus my energies on another car. I ended up taking less just because I wanted to move it and I knew there would be less suitors in the current economic climate.

    Not all sellers will be so motivated. Others maybe more so, and if so, they may well offer a car up for less than what the value may have been even 2 years ago.
     
  18. BigTex

    BigTex Seven Time F1 World Champ
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    I think you hit something there.....the "308 Buyers" are dying off, at about the same rate as the cars!!!

    Excepting a 'generational echo", there will come a time nobody cares.....you won't need a runner, it'll just be a birdbath out in the garden.....

    Damn shame, what happened on the Euro car thread...
     
  19. rdefabri

    rdefabri Three Time F1 World Champ
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    Agreed...the damage to that car seemed excessive!

    I hope these don't become birdbaths!!! :)
     
  20. rdefabri

    rdefabri Three Time F1 World Champ
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    I got some pics - actually quite a bit. I didn't download them, he shared with me, but I'll try to get some posted.

    Interior: looks mostly there - door panels not on; seats look nice but not correct pattern from what I can tell; horrible looking velcro'd cover on the dash

    Exterior: looks nice; at least 1 new tire (can see the sticker on the tread)

    Engine: valve covers off; cam seated, but nothing else; carbs off

    For 20K, maybe alright for someone adventurous, but I am now starting to see much better examples for 27K or so. Seems to me this car needs more than 7K of work...I could be wrong, but maybe.

    Then again, for that it may be a better car... not sure. I did notice he has a second, silver GTB parked next to it, so may explain why he's getting rid of it.
     
  21. CliffBeer

    CliffBeer Formula 3

    Apr 3, 2005
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    Cliff
    It's total junk, parts car only. Will need $100,000 to get it together. The owner should pay you $10,000 just to take it out of the driveway.

    Now that's been said, it looks like a nice project for someone who knows how to turn a wrench. Get it for $15,000, spend the summer going through the engine and tidying up the interior and you've got both a fun project and a 308 in the money.
     
  22. rdefabri

    rdefabri Three Time F1 World Champ
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    Might be worth it for 15k - maybe. 20k, no way...and while I am no mechanic, I can wrench, this car wouldn't be a stretch for me.
     
  23. NYJETSFAN

    NYJETSFAN Formula 3

    May 11, 2001
    1,093
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    Jr
    ok here is my 2cents! lol the yellow 308gtb is mine i didnt realize i would get so much ink here on Fchat,, but i have been on here since 2001 so i should have posted it here to answer any questions.. anyways the car ran fine before starting the service im not a mechanic but a mechanic that used to post on here from the bay area started the work but as you can see never finished... it has some extras and if you want more info here is my email

    please be patience i will do my best to get back to everyone, i hope i did get back to everyone over the weekend



    nyjetfan83@yahoo.com
     

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