I'm new to this forum, but wanted to solicite some advice from people that have been there.......... I just picked up a 1977 308GTB in yellow with 31,000 original miles. The records indicate that a major service was done at 21,575 back in 1990, and most of the rubber was also changed at this time (hoses, bushings). The car has been used very infrequently since that time. The car runs great, with just a little clutch slippage in the higher gears when warm. The car is complete and all original with no rust. The paint looks great even at close range, until you look real close (6" or so) when you notice that most of it has spider cracks. This is a metal 308. My question I will plan on a major tune up to replace the belts, water pump and might as well change the clutch if necessary. Eventually, I will need a paint job complete. Is the value of this car expected to rise from what trends you have noticed, or will I be wasting my money to perfect this car?
As the owner of a 78 308, I can tell you that you wasted your money by buying a Ferrari! If you want to perfect it, do so if you can afford it. You'll never get your money back out of improvements done to a car, but if you enjoy them while you have it, you should enjoy it. Don't knwo how much you paid, but if you made that car perfect you might be able to get upper 20s for it.
The 308 was the bottom of the line Ferrari that was mass produced in numbers previously unheard of at Ferrari. Just do a mechanical and cosmetic tune-up and enjoy the car. While the 308 is certainly a car worth owning, its not worth the cost to perfect IMHO.
That's a bit harsh...I think you'll find the 208 was the bottom of the line! I agree about the mechanical stuff. If the clutch has started to slip, then you are only putting off the inevitable, so you may as well replace it when the other work is being done. A 308 clutch isn't that expensive, and can be cheaper than many modern cars.
fmangano, I would do to the car what you can afford to make it what you want it to be. As far as resale goes, I'm confident that potential buyer(s) looking for a 308 will probably buy the ones that have been taken care of the best. ........................I know I would !! Good luck with your new F-car.........enjoy it!!
Replace the timing belts, tensioner bearings and hoses. If the WP works and keeps the car cool then don't sweat it. Replace the clutch as well.
If you bought the car for fun, then enjoy it and drive the heck out of it. If you bought the car for profit...well...ain't gonna happen.
Make it look as good as you want it. 77 308's are still going for $25-30K in Hemmings so based on the last 5 years I've been looking at the numbers this seems to be the going price. Enjoy the ride , the longer you keep it the better you'll like to drive it. Its a fun car and still a head turner. Go for it.
You know...Don't listen to anybody but yourself. If you want to spend big money on it..DO IT!! It's your wallet and your car. If you get enjoyment out of fixing up a car then save that 308 from an owner who wouldn't. They are a great little car and can be driven everyday of you wanted to. The are reliable and inexpensive to maintaine once you have your car sorted. I have had my 308 for 4 years now and it has been one of the best cars I have ever owned. I would have zero problems with driving it across canada and back. Do what makes you happy and don't listen to everyone else. You never know..if you make your car a jewel you may have offers for it that will surprize you..I know I have...
do the mechanical stuff and unless you are into the concourse stuff wait on the cosmetics...I've been driving my 78 gts for the last 10 years and the cosmetics sound similiar to yours ...that old lacquer just doesn't hold up well...I've had a couple of spots blended in but I still have some cracks...bottom line is that driving down the road the car still get's nothing but complements and when I tell people about the paint flaws they look at me like I am nuts. Some day I will have it painted, though I would never consider spending the 10k quoted by Classic Coach to do so. Heck, back in 78, ferrari probably spent about $200-300 on painting their cars...and man where there imperfections...I have factory runs in my car, dry spray etc....so I say, why bother putting a better than new finish on a 308...it takes away from that hand built feeling.
I can't say for certain, but I think that 308 prices may rise or at least stabilize for a long time. Each year there are fewer of them on the road, and cars in good condition should remain popular sellers. I'm talking about good cars, as opposed to some of the junk that is out there. I can verify that the price of good 328s has risen considerbly in the past year since I dosposed of my 328. I'm toild part of the reason is the storng euro. I was not able to find a suitable replacement, so I bought a 308 QV. Porsche 944 turbos are a good example. There were probably many more of these built than 308s. Turbo-S cars are in high demand and I'm told they sell as high as the mid 20s, which is about what they they were bringing ten years ago. Having said that, I wouldn't consider a 308 an investment, but I wouldn't be surprised if they hold their value and even appreciate with time. One interesting element is the mileage penalty. As these cars age, will it still be hard to sell one with 50,000 or more? An 83 with 50,000 miles on it has been driven an average of just over 2,000 miles per year! I know of no other collector car that carries a mileage penalty. No one would think twice about buying an old Jaguar or even Porsche with comparatively high mileage. The price would depend entirely on condition.
The same could be said for many Ferrari's, including the 348 (over 7000 produced), 355 (over 6000 produced), and for that matter even the 360, all at the bottom of the line-up of the Ferrari product offering during their day. What does that have to do with appreciation values? In 20 years, won't a 355 be in the same situation as the 308 today? Let's face it, even though the 308 was produced in numbers that exceeded any other previous model F car, there was still only about 3500 QVs made - worldwide. Anojther 3000 injected models, and maybe another 3,200 carb'd models. Over 10 years. That was 20 years ago, when the 308 ranked by comarison to its peers the same as the 355 did or even the 360 does today. How many 308s could possibly be left, original, unadulterated - what maybe 1/3? Not sure how long the originator of the post is going to keep his 308, but in 10 years, I bet a 308 in near perfect shape would be worth 70k - 80k. And I bet over the next 10 to 15 years, the prices of 355s will drop considerably before recovering again, due to the same pattern - new models are introduced, which command more desire, and the older models saturate the pre-owned market. My $.02, Phil
i almost bought the 1977 yellow GTB that is / was for sale in San Diego. the price, given the fact it has a salvage title and no books , tools or records turned me off. i did buy a nice red 1977GTB, also from california. leave the paint alone, fix the mechanical issues and DRIVE THE CAR. if it starts when you want it to, and does not puke oil all over the place, you are doing well. drive the crap out of it and enjoy yourself. the small stuff on these 25+ year old car will eat you alive. learn to deal with the little imperfections, or plan to spend much $$$$.
