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Anyone know these 355's

Discussion in '348/355' started by cglass17, Dec 30, 2005.

  1. cglass17

    cglass17 Rookie

    Sep 12, 2004
    49
    98 355 F1 Spider

    Same 98 on on Ebay

    97 355 Spider

    I talked with Moe today regarding the 97. He says it is the Lexus Dealership owner's car. He is going to fax the service records to me.

    I have ran car fax's on both. The 98 looks like it was up for sale in DE on 10/04, and in PA on 9/05. The 97 looks like it was auctioned in 5/98 with 4800 miles on it. It appears that it was serviced almost annually. I would like to post parts of the carfax info out here, but I am not sure that I can legally.

    Any info / advice and comments on pricing would be greatly appreciated.
     
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  3. lapeter

    lapeter Formula Junior

    Jun 13, 2002
    885
    SunValley ID&Kapalua
    Full Name:
    Al LaPeter
    Good price 75-80 on the 97 and 80-85 on the 98 IMHO
     
  4. IslandBoy

    IslandBoy Formula Junior

    May 26, 2005
    363
    South Florida
    Full Name:
    Richard H
    I agree. Each one is about $10K overpriced for todays market.
     
  5. 1badboy

    1badboy Formula Junior

    Dec 11, 2004
    290
    Hermosa Beach, CA
    Full Name:
    Eric Rayl
    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
     
  6. mark328

    mark328 Guest

    Jul 30, 2005
    657
    Mi
    Full Name:
    Mark
    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.
     
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  8. andrew911

    andrew911 F1 Rookie
    Silver Subscribed

    Sep 8, 2003
    2,868
    Northern NJ
    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
     
  9. lapeter

    lapeter Formula Junior

    Jun 13, 2002
    885
    SunValley ID&Kapalua
    Full Name:
    Al LaPeter
    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.
     
  10. 1badboy

    1badboy Formula Junior

    Dec 11, 2004
    290
    Hermosa Beach, CA
    Full Name:
    Eric Rayl
    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.
     
  11. mark328

    mark328 Guest

    Jul 30, 2005
    657
    Mi
    Full Name:
    Mark
    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.
     
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  13. andrew911

    andrew911 F1 Rookie
    Silver Subscribed

    Sep 8, 2003
    2,868
    Northern NJ
    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...
     
  14. TimsBlack16M

    TimsBlack16M Formula 3

    Jan 27, 2005
    1,357
    Agoura Hills, CA
    Full Name:
    Tim
    $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
     
  15. 1Turbo

    1Turbo Formula Junior

    Jan 26, 2005
    670
    LA$ VEGA$
    Full Name:
    Jimmy K
    AGREED !!!

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

    anunakki Five Time F1 World Champ
    Rossa Subscribed Owner

    Oct 8, 2005
    55,072
    Las Vegas Nevada
    Full Name:
    Jerry
    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.
     
  17. exotics4fun

    exotics4fun Karting

    May 13, 2005
    81
    My god, that's like 10% of the cars value for just a regular service. I understand, pay to play, yadda yadda, but still...
     
  18. mark328

    mark328 Guest

    Jul 30, 2005
    657
    Mi
    Full Name:
    Mark
    Thats why I sold my car between parts and labor it's outright robbery, but I'll always love Ferrari's.
     
  19. andrew911

    andrew911 F1 Rookie
    Silver Subscribed

    Sep 8, 2003
    2,868
    Northern NJ
    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!
     
  20. TTG

    TTG Formula 3

    Jun 11, 2002
    1,551
    East Hanover, NJ
    Full Name:
    Todd Gieger

    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
     
  21. andrew911

    andrew911 F1 Rookie
    Silver Subscribed

    Sep 8, 2003
    2,868
    Northern NJ
    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!
     
  22. 1badboy

    1badboy Formula Junior

    Dec 11, 2004
    290
    Hermosa Beach, CA
    Full Name:
    Eric Rayl
    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
     

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