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328 stops depreciating?

Discussion in '308/328' started by mustardfj40, Feb 15, 2006.

  1. mustardfj40

    mustardfj40 Formula 3

    Jun 17, 2004
    1,135
    Northen California
    Full Name:
    Ken
    #1 mustardfj40, Feb 15, 2006
    Last edited by a moderator: Sep 7, 2017
    Hi,

    I haven posted here for while since I was too busy with other hobbies, last week I bought a classic automobile magazine which has an article about the "5 afforrdable Ferrari" in which it mentioned the 328's price has hit bottom. Is it true???

    I have an '89 328GTS with about 5,000 miles on the clock, I bought it back in dot com days with dot com stocks, I have been telling my wife the darned car probably worths little just like those stocks, maybe about $20,000...

    Here's a pic:
    Image Unavailable, Please Login
     
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  3. Drew_4RE

    Drew_4RE Formula 3
    Rossa Subscribed Owner

    Dec 19, 2005
    2,237
    FL
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    Drew
    I think you're right.

    Give me a call, I'll give you $21k for it. Just because I feel bad for you.
     
  4. AJS328

    AJS328 F1 Veteran
    Owner

    Apr 23, 2003
    7,520
    New Jersey
    Full Name:
    Augustine Staino
    I'll buy it for $21,001 and a case of Cristal!
     
  5. Drew_4RE

    Drew_4RE Formula 3
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    Dec 19, 2005
    2,237
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    Drew
    Outbid again.... :(
     
  6. indaville

    indaville Formula 3

    Oct 6, 2005
    2,275
    Louisville, KY
    I feel bad for people who lost money on Dot-coms. I will pay you $23k!! PM me so we can work out the details.
     
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  8. Imola2001

    Imola2001 Formula Junior

    Jul 17, 2005
    886
    SoCO & SoCal
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    Mike C.
    I feel ***REALLY*** bad for people who lost money on Dot-coms. I will pay you $25k!! PM me so we can work out the details.
     
  9. AJS328

    AJS328 F1 Veteran
    Owner

    Apr 23, 2003
    7,520
    New Jersey
    Full Name:
    Augustine Staino
    $27K, my final offer!


    ....until I get outbid, that is.
     
  10. Gary Res

    Gary Res Formula Junior

    Apr 23, 2004
    573
    Long Island,New York
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    Gary
    Did it have a major yet? If so I will go to $30,000.00. Its a shame that 328's went south with Dot coms! Maybe one day they will recover. I hear that red is worth the least amount these days. Grey, yellow and white ones are now the more desirable colors. Who would of figured ?
     
  11. mustardfj40

    mustardfj40 Formula 3

    Jun 17, 2004
    1,135
    Northen California
    Full Name:
    Ken
    My wife got sick of seeing the car sitting in garage under the cover and we don't need the money so there's no plan to sell it. It keeps sitting there and I have a project 4x4 truck blocking it from being driven out.

    Back to the question please, I remembered the price of these Ferraris dropped big time after the dot com buble, is the price of the 328's really bottom out and start to rise?

    Thanks.
     
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  13. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    20,700
    Fullerton, California
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    Jon
    Nice except for the oddball color. Good luck unloading that thing...

    Oh OK... so what did you pay for it? 328's are in demand.
     
  14. Drew_4RE

    Drew_4RE Formula 3
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    Dec 19, 2005
    2,237
    FL
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    Drew
    Shame on all of us....salivating at the mere hint of being able to take advantage of a fellow Ferrari enthusiast! Like wolves....ready to kill one of our own. So sad.

    Seriously though, don't take less than $30k ;)
     
  15. Drew_4RE

    Drew_4RE Formula 3
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    Dec 19, 2005
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    With these low miles and knowing that it's been a bit of a garage queen I would realistically pay around $50k. Thats knowing that there would need to be a decent amount of service on the car....~$7k for a major service and any other issues which would arise out of having the car sit idle for that long.

    Just my .02....
     
  16. Skyler360Spider

    Skyler360Spider Formula Junior

    Oct 15, 2005
    525
    The OC, USA
    I'm looking to add to my F Car portfolio since the dot com stocks are dead money. PM me if all services are done and we can take that bad boy off your hands for a reasonable price to both parties without these "wolves".

    Best Regards,

    Skyler

    Bythe way I run a real tech startup that makes real money that allows me to buy real F cars and no its not for sale (yet!)
     
  17. DGS

    DGS Four Time F1 World Champ

    May 27, 2003
    41,988
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    Here you have the joys of Ferrari pricing:

    If you leave it sit, it'll be worth less, because it hasn't been exercised and maintained.

    If you drive it, it'll be worth less, because it has miles on it. ;)


    "Value" is what it'll bring.
    "There's a sucker born every minute" -- P.T.Barnum.

    But seriously: why leave it sit? Use it for a daily driver. The 328 is one of the most reliable Ferraris. Maintain it, drive it, keep it. Then resale price doesn't matter. (And in a decade or two, you'll have gotten your money's worth out of it, and you won't care what resale is.)

    (I'm going for "Dirtiest 328 in the DC area" ;))
     
  18. mustardfj40

    mustardfj40 Formula 3

    Jun 17, 2004
    1,135
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    Ken
    Wow! not too bad then...It has been a while so I don't remember exactly how much I paid for it...Maybe upper 40's to low 50's. Only remember it was blast to drive unlike any sport cars that I have driven.

    The dude who sold me the car was a millionair and owned bunch of motels (the background of the picture was his mansion), I asked him why he sold the car, well he told me the reason was he wanted to invest more in dot com stocks...I thought it was funny back then because I was selling stocks to buy his car.

    Thanks.

    /td
     
  19. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
    11,253
    Colorado
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    Dave
    Do a major service and detail and it will sell for at least 65K. 328'***** bottom in 1997 and have been pretty stable ever since, maybe up a little lately. Here's a little history. My car, an 89 GTB had an MSRP of 78880. Ferraris were hot around 1989-90 and this car may have been worth 125-150 at that time. In 1991, it was advertised for 95K (market collapsing). It was off the market until early 2000 when (with 6K miles and needing service) it sold for 67K. I bought it in late 2001 for 62K fully serviced with 7K on it, so there was a little decline there. I know of quite a few sub 10K mile, (both GTS and GTB's) 89's that have sold for 60-70K in the last 4 years. If your car has just sat there the last few years, it is deteriorating as we speak.

    Dave
     
  20. mustardfj40

    mustardfj40 Formula 3

    Jun 17, 2004
    1,135
    Northen California
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    Ken
    #17 mustardfj40, Feb 15, 2006
    Last edited by a moderator: Sep 7, 2017
  21. Jackmb1

    Jackmb1 F1 Rookie

    Dec 27, 2005
    3,297
    The car looks great. You need to have it serviced and start driving it. It's worth $65-$72. I believe the 328 will continue to keep their value. It's a great car and the style will never get old.
     
  22. Testacojones

    Testacojones F1 Veteran

    Nov 3, 2003
    5,139
    Terra
    I bought my 328GTS for $62,000 in '92 and drove around 35,000 miles, then my brother drove it close to 18,000 miles, at the time he sold it on consignment he got $35,000 for it and the car had around 64,000 miles, we had it for 12 years, the best car buy I ever did.
     
  23. surfermark

    surfermark Formula Junior

    May 19, 2004
    317
    Mill Valley, CA
    Full Name:
    Mark
    QUOTE=mustardfj40]Thanks very much...I've just pull the car cover and checked it out...It still has the original tires with those little nipples sticking out the side and still has the smell of new car, will try to have it serviced this summer...Some more pics to share with you all:[/QUOTE]

    What is the VIN number for your 328......some of us keep on on going registry of 328 VIN numbers....would like to add yours to the list....
     
  24. DGS

    DGS Four Time F1 World Champ

    May 27, 2003
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    Disgusting! That car needs some wear! ;)

    But not on "original tires": 15 year old tires are way too old to drive on. Look closely for the tiny little cracks.
    And forget traction.

    I really don't understand people who think of these machines as an "investment".
    That's like buying a Van Gogh and never looking at it.

    Back when I was car shopping in '99, somebody was trying to sell an '88 328 with 200 miles on it. Yep: 200 total miles. He never drove it. He bought it as "an investment". The miles came from the services. Some investment. He paid $77K for it new, had it serviced every few years, and wasn't getting any takers at $60K in '99.

    ... And hadn't driven it at all.

    What a maroon.

    In '99, I paid mid 30s for a 40K mile 328. It's got over 60K on the clock now, and there would be more if MA hadn't torn up all the local roads for a couple of years in there. I really don't care what "resale" would be.

    I've enjoyed every mile.
    (Okay, there were those couple of miles in downtown Boston gridlock that weren't all that much fun, ... ;))

    How do you measure smiles per gallon?
     
  25. 285ferrari

    285ferrari Two Time F1 World Champ
    Sponsor

    Sep 11, 2004
    20,006
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    Robbie
    Drive a little here and there, get a major done. Then you will get a premium for the car.
     
  26. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    20,700
    Fullerton, California
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    Jon
    Yes, original tires are not something to brag about. Or drive on.

    As the resident f-chat minister of paranoia: If the car hasn't been driven since the late '90s I wouldn't even start it. Flatbed it to your mechanic, get the belts and tensioner bearings done, and swap out the tires.

    Then follow everyone's advice here and drive it a bit.
     
  27. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
    11,253
    Colorado
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    Dave
    Excellent advice!

    Dave
     
  28. chris marsh

    chris marsh F1 Rookie
    Silver Subscribed

    Aug 30, 2005
    4,639
    Detroit
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    Chris Marsh

    $65-$72? isn't that 348 money?
    I've been watching for the last year and I say $45-$52
     

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