348 values (sorry) | FerrariChat

348 values (sorry)

Discussion in '348/355' started by traimpz348, Sep 24, 2024.

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  1. traimpz348

    traimpz348 Formula 3

    Apr 13, 2004
    1,568
    Avon,CT
    Full Name:
    Matthew
    I swear I did a search - I see what 348s have been trading for and the values are all over the board. I know mileage, condition, service history, model year all play a role.

    I'm trying to get a sense of how much a low mileage car should command in terms of a premium.

    I think it was last year an 8k mile well documented, super clean blue Spider that was Classiche certified sold on BaT for $121k or $128k with the buyers premium. But then you see a decent example with 30k miles sell for $85k. So a roughly $40k swing. There's also been a several auctions that float around the $70's somewhere. Is that amount of disparity between car values normal?

    I'm interested in a car that's on the very high end of values. I'm willing to pay a premium for a nice car. I'm partial to the 348 over the 355 for a variety of reasons. I just know that on top of the purchase price there will probably be some teething issues as the car hasn't been driven much. Am I wasting my money on a low mileage car? I will drive it - but I have several cars so the mileage would stay lower. I'd image after 10 years, maybe 10k additional miles... that being said - if I do get this car, there will be part of me that also would want to preserve it to some extent as one of the best condition 348 spiders out there. I don't currently have a show or garage queen car and this one might be able to do a little of that as well.

    At the end of the day I know it's up to me, just wanted to pick the brains of others and get different perspectives that I might not be considering.

    The auctions in question:
    https://bringatrailer.com/listing/1995-ferrari-348-9/

    https://bringatrailer.com/listing/1994-ferrari-348-spider-17/
     
  2. ChoonHound

    ChoonHound Formula 3
    Silver Subscribed

    May 13, 2022
    2,214
    Saint Michaels, MD
    Full Name:
    Lucas
    You cant go by total mileage, imho, you have to go by *recent* mileage.

    An 8k car and a 30k car might both have been sitting idle for 10/15/20 years. If the car has been idle for a while, no matter the total mileage, I would expect issues. If the car has been driven 1-2k per year for the last few years you’re much likely to have an easy time.

    re: price: find a car you love. See how much it costs. Then try to find another just like it. If that’s impossible, pay the asking price. If it’s easy, then you have your answer.
     
    traimpz348 likes this.
  3. steved033

    steved033 F1 World Champ
    Owner Silver Subscribed

    Apr 12, 2017
    10,043
    Atlanta, GA
    Full Name:
    Steve D.
    Color is a big deal. There are the "must be red" people and now there is an "any color but red" faction.

    sjd
     
    ILLA NOIZ and albert328gts like this.
  4. M. Brandon Motorcars

    Sponsor

    Sep 4, 2007
    1,830
    Houston, TX
    Full Name:
    Michael Foertsch
    In the Ferrari world, there is a huge price difference between an 8K mile car and a 30K mile car.

    Sad, but that's the way it is.
     
    SpencerMarks and traimpz348 like this.
  5. traimpz348

    traimpz348 Formula 3

    Apr 13, 2004
    1,568
    Avon,CT
    Full Name:
    Matthew
    Yeah - so seeing one sell for $120k with minimal mileage isn't extraordinary?
     
  6. ChoonHound

    ChoonHound Formula 3
    Silver Subscribed

    May 13, 2022
    2,214
    Saint Michaels, MD
    Full Name:
    Lucas
  7. Ob917

    Ob917 Formula Junior
    Silver Subscribed

    Jun 7, 2024
    347
    Cardiff CA
    Full Name:
    OB
    First 348 I looked at had 12k miles and looked like ****, all the rubber was crap, dash was coming up etc and it broke on my test drive(alternator). The one I bought has 40k and is super nice. The difference in values don’t seem to represent the real world. I didn’t have a budget.
     
    traimpz348 and albert328gts like this.
  8. traimpz348

    traimpz348 Formula 3

    Apr 13, 2004
    1,568
    Avon,CT
    Full Name:
    Matthew
    That's what I'm having a PPI done on!
     
  9. ChoonHound

    ChoonHound Formula 3
    Silver Subscribed

    May 13, 2022
    2,214
    Saint Michaels, MD
    Full Name:
    Lucas
    Do you know the history? Would love to know where it’s been hiding all this time.

    Red over black seems to be more popular in Europe. I think it’s a little boring, but with those miles this is probably a once in a lifetime opportunity.
     
  10. A348W

    A348W Formula 3

    Jun 28, 2017
    1,846
    North Wiltshire, UK
    as above, on condition!

    I sold mine with 70k miles on it and was in better condition than a lot out there! a main dealer sold it a year later with 72k miles on the clock; they had confidence in the car!

    look at as many as you can; one will speak to you!
     
  11. Ferrarium

    Ferrarium F1 Veteran
    Sponsor Rossa Subscribed

    Jul 28, 2018
    5,728
    Central NJ
    Full Name:
    Eric
    I have arguably the most mechanically sound and updated 348 on the planet, everyrhing replaceable in the engine was replaced I even put in new factory coil springs that took a year to find all 4 with matching rate.

    My enjoyment was working on them more than driving them. I have. 3 inch binder of receipts and gobs of spare parts from spare hvac controller to spare mafs to dash gauge insert. I have run out of things to do on the car except new carpet which I have a huge role of color correct new Wilton wool I imported from England before it became unavailable.

    Car is red, run search with my name, Pm me if interested.
     
  12. ChoonHound

    ChoonHound Formula 3
    Silver Subscribed

    May 13, 2022
    2,214
    Saint Michaels, MD
    Full Name:
    Lucas
    The opportunity to buy Eric’s car is one I would not pass up.
     
  13. Ferrarium

    Ferrarium F1 Veteran
    Sponsor Rossa Subscribed

    Jul 28, 2018
    5,728
    Central NJ
    Full Name:
    Eric
    13k miles btw
     
    ChoonHound likes this.

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