Anyone know these 355's

Good price 75-80 on the 97 and 80-85 on the 98 IMHO

 

I agree. Each one is about $10K overpriced for todays market.

 

The 98 is just getting 15K service? I think it is in need of 30K engine out belt replacement- it not just mileage, but years for that, and is very expensive compared with just "service". Of course PPI with an eye for F1 issues/clutch wear as that could be expensive issue. I personally like the 6 speed and would not pay a premium for F-1 in the 355.

Both cars could have interior issues like the "sticky switches", "blistered console" or "shrinking dash" which would make a difference IMO.

If one already has a Tubi, I would give it advantage as 355 w/ Tubi sounds amazing and is probably close to 5K to get installed. Also, I prefer Challenge grill (on '98, but not 97) and that is about 2K I believe if you want it after-the-fact.

Best of luck and don't be afraid to keep looking.

Eric

 

I agree even though both appear to be in beautiful condition I think that they are overpriced for todays market. For the money they are asking I would want the 30k service complete.

 

When you guys speak of your opinion of the market price, is that a lower value by $x thousand dollars due to these cars being yellow? What is the market value of a '96, '97 and '98 with 12-18K miles with all service up to date if it's red/beige or yellow/black?

(hopefully I'm not hijacking this thread- I think it's a valid quesiton in light of the two cars asked about, and my own curiousity as I research)

Thanks for your insight

-Andrew

 

I think a yellow/black is worth almost as much as a red/tan. Yellow car has a smaller audience and usually takes longer to sell hence resale red. It really takes a lot of research and time to figure out the the four distinct markets. They are- wholesale (what a dealer will give in trade) Broker price (what a car broker, not F dealer, will pay) fair retail (what an informed buyer will pays that really knows the market and will look all over the US) and dealer price (buyer, informed or not, sees the car they have to have and don't want to spend the time and energy to search the maket). Those price levels can vary by almost 25% depending what part of the country you are in and time of year. I hope this helps. My opinion comes from recently (3 years) buying a 355 spider, selling it this year within 30 days and buying a 2002 spider. I think I paid fair retail or sold for fair retail in all three transactions. BTW I owned the 355 spider 2 1/2 years, drove it 6000 miles and sold it for $7000 less than I paid. I was happy as these are not investments, just cars.

 

Andrew- I think the 2 color combinations you mentioned, all things being equal (service, options, etc), you would find very similar pricing/value - red/tan is traditionally THE f-car color combo but yellow/black in also popular. Many times I've heard "I don't want red because everyone has one".

Now if it were some weird color combo- white w/ tan, blue w/ red, etc then it may knock a few thousand off, but it depends on how long the seller is willing to wait for the right buyer.

A more interesting question to me would be for identical cars, how much $$$ would a Cali car get over an east coast car or "snowbelt" car, and whether I value buying a car close to home vs. across the country and the hassles involved.

 

What is the market value of a '96, '97 and '98 with 12-18K miles with all service up to date if it's red/beige or yellow/black?

I just sold my 328 and discovered a small group of buyers for a large market of cars. I noticed that most of the cars have been for sale for an extended time and I wasn't getting any responses when I listed mine at market value. I lowered the price and the car sold. The 355's your looking at would be a good price if they take an offer and only if the 30k service is done. If you need to do a 30k service you will be looking at around $7,000.

 

Interesting comments- all of which I agree with. I was looking at a couple of cars- one '96 that I think will go for about $90K, and a '98 that I missed that was going for $97.5 with very low miles, tubi and challange. '96 is under 14K miles and very clean, and the '98 had 5K.

Anyway, what peaked my interested in this thread was the two cars shown had ask prices that seemd reasonable, and a couple of you chimed in that the market was about $10K lower for the actual sale price... Lapeter said $75-80 for a '97 and $80-85 on the '98- for serviced cars.

I'm still a little early, and it's tough to tell what the lowest prices for some of the cars I've looked into is, but it seems that the mid $70s is low for a serviced '97 with no sticky interior, up to date service, and miles in the 12-16K range. Again, maybe this is the proper actual sale price when all haggling, PPI etc is said and done...I havn't got to the closing desk since I'm just watching the market and preparing...

 

$7000 is an optimistic number for the engine out service. The number can run considerably higher. Examples of common issues: replacement cats ($4000) pre 98 1/2' s can have valve guide issues (many thousands...not certain of exact cost), clutch replacement ($3500), etc. In my opinion, your bet is to buy a car that is documented and completely sorted out. In the long run, you'll have more enjoyment and potentially save a ton on money. Because Ferrari makes product improvements (often not publically disclosed) on an ongoing basis (and oftentimes mid product year), the old rule is to buy the most current model year that your budget allows. This point is very well documented in the FCaht archives. Good luck and happy hunting! Tim
My 99' 355 F1 Spider might serve as a good point of reference:
http://www.ferrarichat.com/ferrariads/showproduct.php?product=491&sort=1&cat=11&page=1

 

AGREED !!!

1) Beware of the F1.
2) Interior Work = $$$

 

I bought my 98 1/2 ( no problems with Valve guides) F355 Spider 6 speed( not F1 - I would avoid F1's because one day you will have to cough up $15k+ to fix the damn thing) yellow/black 12,000 miles for $87k in So Cal ( where prices are generally a lil higher) - it also had upgraded Brembos, upgraded stereo MP3 player, tubi and a few other things.

then took it in for 30k service ( A MUST FOR A CAR THIS OLD - 15k service is NOT enough)..had to replace Cats.. total cost $8200

This was only 4 months ago.

I dont think I got a steal but I think it was a very fair deal for both parties.

 

My god, that's like 10% of the cars value for just a regular service. I understand, pay to play, yadda yadda, but still...

 

Thats why I sold my car between parts and labor it's outright robbery, but I'll always love Ferrari's.

 

Did you do a PPI on the car? The shops I have spoken to say they can "hear" right away if a cat is bad or going bad, and same with the exhaust manifold. Other big item I'm going to have them check is the compression/leak-down test for the valve guides...

Thanks for the details on your purchase by the way- sounds like a nice car- actual sale price details help very much more than looking at a bunch of asking prices.

Max1- I saw your car in the classifieds, but I'm only looking at 6-speeds (simply want to shift myself)- your car looks very very nice though!

 

Yes siree Andrew...you are definitely going to pull the trigger in 06...I did the exact same thing you are doing 2 years ago.

Keep up the good work guys...Andrew is a friend of mine and a really nice guy and he's definitely not kicking tires.

Best,

Todd

 

Thanks for the nice words Todd....you, and this site have a very dangerous way of pressuring me, and I'm afraid my resistance is breaking down- ha!

 

Well, I guess it could be argued that it is really a $95.2k 355... which is really not unreasonable if all issues are addressed- my earlier comments reflect what issues I'm talking about.

I know 10% of value for service seems crazy- but the trick is to try to get someone else to pay it right before selling then you buy it at a discount.

Sorry if this thread is taking a different direction, but I enjoy all the different perspectives.

Eric