348 spider values

i have listed my car in online fml and fca newletter for the past month. priced at 65k online and no price in newletter. i have not had one call yet.

im also checking the ebay sales and several have been listed more than once and not selling with buy it now prices in the low 60's. one that did sell was mid 50's

am i wrong in thinking a used 348 spider is worth more than a new boxster? im starting to think maybe not. is demand for this model headed further downward? should i consider dumping it to the dealer as a trade in and at least get a tax reduction on new car? they would probably offer high 40's to maybe 50,000

 

Wait till summer rolls around. You will get plenty of calls.
Everything is quiet right now. Everybody I know in the car business is saying it's really slow.
I am in retail and I am slow this time of year also.

be patient

 

Actually, we are leaving the hot selling time for convertibles (Spring). A few months ago, I was budgeting $60k for a 348 Spider now I'm thinking more like $58k so yes, the market has gotten kind of soft because the 355 Spider market is depressing it.

 

I've seen a couple very nice examples retail and sell at $50,000 but not much above that. At least here in Florida

 

65k sounds high for a 348 in todays soft market, but if your not in a hurry I would see what happens. Last year I sold my 328 and started high, but I had no luck. I then lowered the price and had a few calls, but mostly tire kickers and stupid offers. After trying for almost a year I took the car to a dealer and had him sell it on consignment. He actually sold it in about 2 months and for more then the price I had listed so it worked out very well for me.

 

355's haven't softened much at all, the drought for 430's is pulling the 360's, and the 360's are pulling the 355's a bit......The 355 I bought one year ago hasn't seen much if any depreciation.

I'm not an expert, but $65k is way out of line for a 348. When I was first looking (and liked the 348's), I was told by a solid source that the most I should ever pay for a 348 is $55k....from there it's downward.

It's an awesome car....but it's 4 models behind current

Insure it for a lot and leave the keys in the ignition somewhere

 

Steve,

Don't get the Spiders confused with the TS"s and TB's. There is a $10K premium for a Spider over the others, so $55K is not quite accurate. I have studied the market for those in the past 12 months and the average asking price is around $65K, while the average selling price has been steady at $61K. Ferrari Market Letter's ASP is at $68K.
My thinking on why the red cars are not moving well is because there are too may on the market today.


Stephane
Scaledetails

 

Assuming it's a nice no-stories car, I'd take a bunch of nicely staged photos and put it on eBay. I know FML and the FCA newsletter are well read, but they're tiny compared to the audience you'll get on eBay. It's fairly cheap to list the car there, and you can set a reserve well above what a dealer would give you in trade. In fact, the trade in route sounds like the worst option.

I don't think Boxster prices have much to do with 348 prices. Totally different market, IMO.

What's the mileage on the car?

Leave the keys in the ignition and park it in my garage, actually.

4 models behind current? Pity the 246, 6 models behind current. Better scrap those. But maybe the 348 is still settling a bit - probably the right time to buy.

 

I agree.

IMO, I think 348 prices will be flat for quite a while. may vary +/-5K but don't see them changing much from that, up or down, for the next 5 years at least. Car just isn't loved as much as 308/328, or the 355 which followed, so not sure there is any signif upside in the 5-10 year timeframe. Doesn't make it a bad car or a bad buy.

 

Just yesterday in CT a 1995 348 spider 29500 miles red tan . sold for 55k wholesale dealer auction unsure on the history .

 

I still think the low production #s will keep the SPIDER'S price ok, and go up in the future.

(for me) when people post what other cars sell for. That tells me nothing.

30k service?

over all cond.?

records, how detailed?

paint work?

ect... ect... ect...

was not the DINO called a poor mans Ferrari? (not now) Seems to make me think that the unloved 348 spider may become the beloved 348 spider one day.

 

Very good point. A good deal for me might not be a good deal for you.

Take my 348 for example. I paid $42K for it, but proceeded to spend $8K on it to get it like I wanted - 355 rims, lower rockers painted, new fuel pump, replaced t/o bearing, etc., AND I had to pay $1100 to ship it from LA to TX. So I'm in for over $50K on a 38K miles car.

On my next 348, I will just spend the $50K to begin with, and get one pretty much like I like it.

 

UK dealer prices for 348 Spiders are in the range £35,000 - £42,000 depending on mileage and condition. So that's around $75,000.

There's a lot of poor ones around though, and mint ones are *very* hard to find.

As stated above, the Dino is now a classic. There's no doubt in my mind that the 348 Spider will achieve the same status. Only 67 RHD ones were ever built, and perhaps 10 or so are still mint.

 

Jas,

Thanks for the info, I am gathering the full production (all 1090), what is the color exterior and interior and last 5 digits of yours? UK car I assume?

Thank you,

Stephane
Scaledetails

 

So a late model 348 Spider in great shape is worth about the same as a 1986-88 328??

Sorry, but i disagree. I would never give my 348 spider away for that money. Most owners i have met wouldnt either. Im not talking about a ratty one, and there are plenty out there. Ive seen them first hand. Im talking a clean example. Ive met some owners that will never budge off of $70,000, let alone $60 or $55.

Ive seen all 355's and 360 hardtops dropping over the last 10 months. They made too many 360's. Sure the 355 is more performance then a 348, but for someone like me that wasnt going for speed and wanted classic stake styling. Those people will pay premium for a premium car. Face it, its a hard car to sell. Patience is a must.

It wasnt but 4-5 years ago you could pick up a 328 in the low-mid $30,000's. Try that now! Ill take a dozen!

 

Have you sold yours yet? (I know yours is a very clean car.)

(And nice profile pic, btw)

 

Hi, it's red exterior with crema interior and black tonneau. Number 99883, probably one of the last handful Spiders built. UK RHD car.

Jas

 

Thank you Jas, and you may be correct as I have yet to see a 348 with a 6 figure number.

Stephane
Scaledetails

 

Im enjoying it too much. I listed it on Ebay twice a few months back and got a few tire kickers and one mid-life crisis guy. Not to mention 50 dealers that want to just steal it from me. I suppose the best thing was getting one of the tire kickers to join F-Chat.

Roy Cats has it on his site. Other then that, I havent listed it anywhere else. The market seems to be soft on them right now. To pay $78000+ for a 1995 355 (first model year) or pay $10,000 less for a 1995 348 Spider (last year of production), id always take the last model year. Theyre usually the best.

Unless I get what I want (which is more then reasonable), im not giving it away. With the warm weather upon us, one of the best convertibles ive ever been in.

 

Perfectly timed topic. I'm looking at a 94 red/tan spider, 20k miles, fresh major. Somewhat sticky dash area, but I could cure that with a quick visit to Valence, etc... I'm trying to figure a fair price on it. Any ideas?

I'd honestly prefer a coupe but this spider just recently caught my eye because it's somewhat local.

 

From the limited info I would say low $60k's if it is red, around $60k if it is black or yellow. If it is truly in impeccable condition maybe add a few $$$.
BT

 

Why buy a 94 when I have a red/tan 1995. Im in NJ

 

John, thanks for the offer but the only reason I'm considering this 94 spider right now is the price. Mid 50's asking... I know price isn't everything but if other attributes check out (including a mandatory PPI in my opinion) it might be enough to sway me to the spider. All things being equal, I'd prefer a coupe over a spider everytime. I'm looking into some coupes right now as well but it would seem it's convertible season and that's all that's for sale at this point...

 

Sounds like a pretty good deal being offered. Go check it out before someone else snaps it up!
BT

 

yes I think i'll look into it. I don't want to be one of those people throwing out low number cars for sale only to find out there's something wrong with it or some story car... I feel obligated to check it out though now just to verify the deal. (It does seem to be an amazing one) Not really being the market for a spider though is the only thing quelling my enthusiam at this point.