308 diminished value

First off, glad you're unhurt.

What I would do: Take it to a Ferrari dealer, and get a written appraisal (on their stationery) of the value before the accident and after repair. You're going to need something in writing to support the claim, even if we all give you our opinions.

It may be different if you have it insured as a collector car through a collector car insurance company, but most normal insurance companies assume that if a car is repaired by certified technicians, using original or equivalent parts, then it's worth whatever it was before. For Jeeps, Nissans, Hondas, etc., that's basically true - it's either fixed or totalled. You'll need an expert to say, in effect: "No, this is a Ferrari, Ferrari's are collectible cars, and an accident-free Ferrari is more desireable in the market than one that has been hit and repaired."

You'll probably get a lot of opinions here, but in my experience the only way to really know how good a Ferrari is is to have an expert inspect it. Sorry to hear it, by the way. Sounds like you really have taken care of the car.

My .02.

J

 

Diminshed value on an 81 308? Give me a break. Okay, correct repairs aren't cheap; I'll grant that. But a 24 year old 308i repaired correctly and buffed will look just fine. If I'm a buyer, I really don't care about this stuff for this particular car.

I want to know about compression and leak down, the last time the belts and tensioners were changed, the water pump, suspension bearings, window speed, little broken trim bits...etc. etc. I don't give a crap about paintwork if it looks good because this car is never going to be Lusso. I want a car that was well cared for and has no surprises lurking mechanically.

OTOH, if it was my car, I'd try to get all I could as compensation. Feel free to cry and whine how your perfect car is no longer perfect. Just don't be married to the notion that you are going to get a ton of money beyond actual repair costs. This car has little reduced value in my opinion for some cosmetic repair.

Ken

 

Almost nothing. The 81 308 is pretty much at the bottom of the depreciation well, it's hard to make an argument that proper repairs on a 25-30K car changes the value much. It's still pretty much a 25-30K car

 

No offense TX, but Ken and Tillman are right. This car is not just a mere 308, but it is also one of the least desirable ones (2 valve injected) which means it's not worth that much. The only way this would not be the case would be if the car were an absolutely mint 100 point show car. Just get it fixed, be glad it's minor damage, and try to sell it to someone that doesn't know much about 308 values!!

(There is a 2 valve injected 308 at a local dealer here in MA in very nice condition, but certainly not a show car, for an asking price of $39,900 which is a joke. But they might get it if they wait long enough and find the right person with stars in his eyes...)

Birdman

 

Why all the laughter, $39,000 for an 81 308 personally I think is a steal . Which means my 83 308 QV should easily get 45+K.

Yep, be happy you are okay and that it is minor damage. Sorry about the damage but, it aint life it's just a car.

 

I think the diminished value is negligable. An issue for me would have been damage that would have caused the underlying chassis/frame to be bent out of shape, or cracked. I would not have fun buying a car (other than a P3/4...) that required welding to the tubular frame to get it back on the road, or that needed straightening out in a jig etc. But just some simple bodywork and a professional respray in a small area does not affect resale value IMHO.

 

Was that original paint in really good condition?
If so, wanna trade paint? LOL

 

Until all of the market guide books start publishing what I paid for my 83...

 

No diminished value, especially given the light damage. Show me a 308 that hasn't had a panel (or two, or three) painted, and I will show you a museum car. Cars are driven, cars are wrecked, cars are repaired, and cars are driven again. Given Ferrari's history, one could make the case that a true Ferrari hasn't yet been "christened" until it's had some body work.

Now... if you can talk your body guy into repainting the ENTIRE car, then you might well make a case for ENHANCED value, as it will most certainly be a superior paint job to that of the factory!