Another 348 for sale thread

I'd guess mid $40K range is about right for a 348 that needs a major service right away. You definitely don't want to sit around till late summer to get maximum money for it. I bought mine when it was due for a service -- I liked that I would know that it was done properly, so maybe you could say something like that in your ad. In any event I doubt you'd recover what you'd spend on the servicing.

Can I ask why you're selling it so soon? I'm sure it's a good car, just seems like a financial flub to buy and sell within 5 months, unless you're a dealer.

 

If the belts have never been done then you can do one of two things. Have the 30k major done, or discount it $5k to compensate for the cost of the major.

 

Trade it in if youre buying new from a dealer. They will give you a little less then you want (or are getting calls for) but at least youll save a few G's in sales tax.

 

Hi Michael,

Sorry to hear you are selling it so soon. I understand what you mean about the Z06, that is hard to beat. Here is my advice as the former owner of this car and 8 other Ferraris. Sell it without service for $45K now and sell the 360 wheels and service kit separately. Don't forget to play up the Hyper Flow cats, and other items in there like slick shift, drilled pedals, etc. Every bit helps the sale. I also would mention that the 15K was done 6 years ago and it did include the belts. Another option would be to trade it in as John said, that may save you good tax money, I know Chevrolet dealers would like to see a prancing horse on their lot for a little while. It brings a little prestige to the dealership.

Stephane
Scaledetails

 

Consign it to a dealer, A dealer always gets more money than a PP

 

If you are going to buy a new Z06 I would be more worried about the depreciation of that going from 75k to 35k in 2 years.

 

45K sounds like a fair price considering the mileage and overall condition. From my experience recently purchasing a 348 it seems to take a month or two to find a motivated buyer (i.e. I wasn't in too much of a hurry because the cars I looked at were all still available several weeks later).

If you have the original parts have you considered selling the cats, tubi, wheels and 30K parts kit seperate from the car? I would imagine those parts would bring in around 6K and then you could "discount" the car (reflecting the need for the major) and sell it pretty quick at 42K and wind up with a decent sum overall.

While the upgrades are worth quite a bit on their own, I don't think buyers perceive it as added value as they usually want a stock car to perform their own upgrades. I also like the idea mentioned to consign it. Maybe consign it, run another ebay ad (with prior sale clause) and part out the upgrades - you should be able to move it and wind up with close to 50K.

 

im not so sure the asking price is the problem.

my 95 spider is for sale without an asking price in fca newsletter and no one has called about it entire month. it is perfect and has about $10k in extras like hre wheels, custom 360 style roll hoops, etc

seems worth at least a call so i have to believe there is just very little interest in 348's

 

also just looked at spiders for sale on ebay and its pretty depressing. car without reserve doesnt even have one bid after several days. another has 18 bids from same private bidder which seems a little off kilter. btw my car is now free to first person to answer my ad. jk, but it might come to that

 

I would skip e-bay and list it on cars.com and wait. Even though I found my car on e-bay I negotiated outside of e-bay. I did not like the idea of getting into bidding war.

I listed my 308 on cars.com and received alot of response and finally sold it for asking price. No pressure or time limit with auction ending and all.

Just my 2 cents.

 

The 348 that I recently bought from Symbolic is very similar to the car that your are trying to sell. It had the 15k done w/belts but it was in 2000 so it was over-due. They were asking 59k for the car. I negotiated that down to 50k without the belt service. I cost me around 8k to have that done here by FOA. Between shipping and 3,500 in sales tax which I just recently paid, I have around 63k in it.
I would think that your car is worth no less than 50k if the car is in great condition other than needing another 15k w/belt service. I dont know who these people are who are buying 348's in the mid 40's but trust me, I looked at every car for sale in the U.S. for 9 months and yeah, there were quite a few in the mid to upper 40's but they never passed my scrutiny. The 90' 348 at Sport Auto is a great example. The car has 21,400 miles and is as nice as they come. Its is priced at 59k which is probably pretty close to what Steve will get for it. http://www.sportauto.cc/inventory_ferrari/feb06fer91red348/index.htm

 

Absolutely, although I'm guessing depreciation might be only $10K or so annually the first couple of years.

Depreciation for those first two years would cover two major belt services plus full spa treatment and tire massage for any 348...

 

this is why...

 

I think if you are willing to sell a good 348 in red/tan with that low mileage (even requiring the belt service) for $45k that is a very reasonable (read low) amount. I am not sure about the season affecting prices so much on the less expensive Ferraris. Many Southern state owners would prefer to buy in the fall / winter. I think I would probably go the route of advertising on cars.com and maybe consigning the car. How long does it take to get a Z06 vette? Are you pressed for time to move the Ferrari out of the way? I consider my car very similar to the one you are selling. I bought it for $47k about 16 months ago and was considering selling it a few months ago. I have done several upgrades to the car so I was undecided about selling. I was going to look to get $45k. After deciding not to sell, I would not take less than $50k if I were selling it today. Don't depress the price just because you want to sell it. To me the car is well worth the higher price. Good luck with the sale.

BT

 

As was mentioned previously, trading your 348 for even a "used" '06 Z06 is an entertaining option, IMHO.

For example, both Naples Motorsports (www.naplesmotorsports.com) and Roger's Corvette (www.rogerscorvette.com) have nice '06 Z06's in inventory. One is a velocity yellow / ebony car with 1k miles for roughly $79k, and the other is a LMB / ebony car with only 36 miles for roughly $82k. (BTW, I've purchased a Vette through Roger's in the past and had a wonderful experience...never have dealt with Naples, but they have been discussed about here).

I'm not sure about as of late, but I do know that back in November of last year the local dealers were asking $10k to $20k over MSRP for the new Z06's. I initially had a deposit on one all spec'd. and awaiting my final approval of the deal (was going to trade the wife's '05 C6 Vette in). We thought it over, and decided to just wait things out for a year or two and then decide. Even the Chevy dealer whom we do quite a good bit of business with each year (both personal and fleet) would not budge from $10k over MSRP.

In retrospect, it was probably all for the best as my wife has really become attached to her automatic C6, and enjoys it even more than her previous '01 C5. She likes the auto. tranny and the option of glass top, hard top, or topless -- not to mention the XM and NAV, and the 400 horsies. So, it looks like we'll be keeping this one for quite a while.

At any rate, trading might be worth looking into. Deciding whether to order new, or purchased used is another story...