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Are 3X8 Prices REALLY Going Up? Value vs Price

Discussion in '308/328' started by Dr Tommy Cosgrove, Aug 14, 2007.

  1. ForzaV12

    ForzaV12 Formula 3

    Sep 15, 2006
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    Steve

    What's in the water out there?
    Never claimed to be the expert at anything.
    Last I checked, no one was providing "proof" of their internet comments, especially you.
    No, I am not "in the business". I just enjoy collecting and driving a variety of neat cars. If you chose to go to sleep every night believing that your "driver" GLASS 308 is worth 125K and is the greatest car ever built-by all means do so.
    Me? I'll continue to enjoy a multitude of driving experiences and remain firmly planted in reality.
     
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  3. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    May 4, 2001
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    I don't think he really believes that. At least I hope not.
     
  4. MS250

    MS250 Two Time F1 World Champ
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    Because your still talking it just went to 150.

    Reality is what you make it to be....dont got 150....GO POUND SALT !!

    PS...i also think my 86TR is worth 125. And my house is 2M....dont got it, you dont want it....no problemo !!!

    I set the price, not you.
     
  5. Ferraripilot

    Ferraripilot F1 World Champ
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    May 10, 2006
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    It's man
    Just like a very well Maserati collector I know said, "All my cars are for sale, they are very expensive, I am setting the price, and I don't need the money".

    A true collector should see eye-to-eye with that statement. My car is for sale, but I don't wanna sell it unless I get XXXXX.XX for it, and I don't need the cash. If not, I love the car and I always will. I think someone willing to pay that much would prove that they are willing to love the car as much if not more than I have. Used car lot haggling for Ferrari's does not fly with me.
     
  6. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    Until you REALLY want to sell something - then the market, not you, sets the price.
     
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  8. phylotic

    phylotic Formula Junior
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    May 20, 2007
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    I think he's arguing that there will be two tiers of 308's
    those restored + those unrestored, with the unrestored cars in the 30's
    (or lower and increasingly beat up/worthless hence his 'throw it away')
    and the restored cars in the 150's., ie. he's pricing the car based on
    the money spent on it.

    Naturally a restored and a well kept car
    will collect a premium, but for the near term, in this price bracket,
    the cost of restoration will always exceed the market cost.
    Ditto for long term maintenance.

    There's quite a bit of hype going around, in particular the
    extrapolation of one's feelings about one's personal* car into
    the world wide market, which is to be expected in this setting, but ...
    besides the 'main nodes' in the F classic line-up, no model has increased considerably.
    Factor in the $ weakness and it's negligible.


    * In most circumstances the seller sees 'my car', perfect, priceless, unique, great memories, etc, etc ...
    and the buyer sees _a_ car, imperfect, comparable with other examples, still an object, albeit a desirable one, perhaps.
    In exceptional circumstances 'a' becomes 'the'.



    big red:
    >You Americans get all the deals, we just keep getting raped over here
    with these prices.

    >Because your still talking it just went to 150.

    >Reality is what you make it to be....dont got 150....GO POUND SALT !!







    ---

    Steve - do you think that 308 would have sold for 45k
    if the resto hadn't been done/overdone (at least mechanically)
    by Carobu and published, thus making _the_ car unique?
     
  9. ferrariguyma

    ferrariguyma Formula Junior

    Nov 5, 2003
    523
    Boston, MA
    Because your still talking it just went to 150.

    Reality is what you make it to be....dont got 150....GO POUND SALT !!

    PS...i also think my 86TR is worth 125. And my house is 2M....dont got it, you dont want it....no problemo !!!

    I set the price, not you.
     
  10. MS250

    MS250 Two Time F1 World Champ
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    See that the difference i dont need, too, and dont have too. And personally never intend too (let me son and grand kids worry abut that ;))

    Maybe i was alittle harsh....so this is maybe the point i should actually be saying instead.

    There are and will be 2 tier of 308s those that are 30k that i wish alot of people entire happiness in driving a ferrari. These poeple that argue in whether a 308 restored going for 150 are most likely not in that market..so, a 60K, 80k, 120k 308 carb restored car it wont matter becuase some peopel feel that 30-40k is the number...and thats fine. I think though, some should be a little more open that there are some buyers out there that would much prefer a carb 308 restored for 150 (im just picking this number, it could be a bit more, or a tad less). This buyer does not want a 360 because they are too common, or may even have one already. So, i guess what im saying is, dont hammer people that think a 308 should be 150K because maybe thats the car they want to be in, and in as NEW condition and not a 77 308 with 120,ooo miles with cracks in the paint, and wear on the seats.

    I still think that the 308 is in the in between stage where some are getting ready for restore, and then you will have others that for 30K if the engine or tranny goes at 80,000 miles maybe thrashed. Either way, i think the market for 308s 75..79 (carb cars) are bullish, and will see the 150 mark. I guess time will tell, until then, enjoy your cars gentlemen, because i sure intend to do that here.
    PS...I am still firm on 150 for my 2 owner original and documented 9,000mile glass car ;)
    Happy motoring fellas !!


    PS...with 6B people in the world and growing, i think chances are looking good !!! :D:D:D
     
  11. Rock

    Rock Formula 3

    Nov 9, 2003
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    #109 Rock, Aug 15, 2007
    Last edited by a moderator: Sep 7, 2017
    Well, well, after reading the latest forza issue on the 308 and "it will never be a collector car"? I think Mike shee is missing one important thing in his article. His generation may not think its a collector car but the 30-45 year olds certainly will. Who the hell wants a model T? That group is six feet under! I could go on for ever but the thread is on 308 values, 250k for my soon to be new 77 euro fiberglass dry sump car, or I'm stuck with it. Not for sale find your own and good luck you'll need it.
    Image Unavailable, Please Login
     
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  13. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    Looks nice. Needs some insides now
     
  14. betelgeuse

    betelgeuse Karting

    Mar 13, 2007
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    Greg Loupis
    That may be true for the rest of the year or longer. Builders can build more houses. Companies can issue more stock. But Ferrari isn't going to be making anymore 3x8s. I think these cars will be worth well over $100k in 10 to 15 years. The way the the high end car companies ( BMW, Mercedes, Porsche, etc. ) are pumping out cars these days the 3x8 Ferrari's will be ultra rare.
     
  15. climb

    climb F1 Rookie

    Sep 19, 2006
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    Stuart K. Hicks

    Not only 30-45 year olds, i get young boys and teenagers and old men all giving me looks and thumbs up everytime i drive it. Never had a car that got so much attention.
     
  16. MS250

    MS250 Two Time F1 World Champ
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    Well well yourself....where did this come from..........hmmmm 250K you say.....and i was being nice at 150 to restore.

    Glad to see these cars are making there way to people who seem to understand.

    So lets do a count,

    1) Newman in here restoring a 79 steel 308.....says he'll be asking 150 plus.

    2) Rock with a 308 glass Euro asking 250k

    3) 308g is retoring and showing pics in another thread as well


    I hope the 3 of you do not get discouraged for your valiant efforts and workman ship to bring these cars back to the glory they deserve
    unfortunately the majoirty think 308s should be 25,30,35k......dont listen to them and forgive them, they not know of what they speak.
     
  17. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    Don't forget me. I'm asking $850,000 for my QV
     
  18. MS250

    MS250 Two Time F1 World Champ
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    Sour grapes now Tommy

    ROLMAO !!!!


    The cynical comment that your 84QV is 850K and mocking these people who are actually helping guys like you attain a higher $$ value on your 308 you make fun of them. Pretty classless my friend, especially since you started this thread and you are a long time member around here. None of these guys slammed you or your car and said its worth 10K, but merely adding to this thread you started, but you feel it necessary to mock them...Good work pal :D:D
     
  19. surfermark

    surfermark Formula Junior

    May 19, 2004
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    Mark
    I agree one should not go by mileage alone....but with regular and detailed service records, PPI's and knowing your way around a Ferrari you can tell if miles are "roughly" correct or not.
     
  20. JTranfield

    JTranfield Formula Junior

    Dec 29, 2003
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    J Tranfield
    Going back to my early 911 comparison it interesting to note that 308's sell for much less than early 911's in the US compaired to the UK for example. For instance a 77 308 GTB is about 45-50k right now in the UK but about 30-35k in the US. A good early 911e however is roughly about 40k in either country. These are rough estimates however something is making the 308 cars price lower in the US than other markets? My guess it has to be high service costs or at least the perception of them in the US.
     
  21. BLUROAD

    BLUROAD F1 Veteran

    Feb 3, 2006
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    Enrico Pollini
    Thats it. I have had it with this thread... Im selling. Who wants the car make me an offer...lol...
     
  22. ForzaV12

    ForzaV12 Formula 3

    Sep 15, 2006
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    Steve

    150? Damn, I was all set to pay 125-lol. BTW, I think it's "Go Pound Sand!"

    I got it, but I don't want it.

    Since we are all setting our own prices among friends, I hereby set the price of my GTC @ 1 Million Dollars! (in my best Dr. Evil voice)
     
  23. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    Who is "them". You seem to be the only one around here who thinks they have a 308 worth $150,000 right now. Please keep in mind the difference between a price you set and what a market will allow. All you have is a car you don't want to sell. Fine, that's your business. I don't want to sell mine either but that fact doesn't make ALL OTHER 3X8's six figure cars all of a sudden now does it? This thread is about the true value of a 3X8 when adjusted for inflation, even in the last ten years, not about cars that won't be going anywhere anytime soon. Somehow you have missed the entire point of this thread. I have shown that 308's are actually selling for LESS than they were 10 years ago despite how the classifieds read. I am only making an observation, I am not attempting to slam people who are selling or implying that you should or should not sell. I could care less what someone does with their 308. I don't regulate the CPI, all I am doing is plugging a number into it. If you don't like the numbers that pop out, leave me alone and call Washington. It's not my fault.

    Okay one more time:

    In 1997 a really good 308 QV was about $38,000 - $40,000
    in todays dollar that is $49,000 - $51,000

    QV's aren't selling on average today for $50,000. So when people see $48,000 for a QV and remember buying theirs for $42,000 a decade ago they see a big price increase. BUT it really hasn't done anything but DECREASE in true dollar buying value.


    THAT'S my point. Like I said don't blame me. I had nothing to do with this.
     
  24. MS250

    MS250 Two Time F1 World Champ
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    There are at least 2 others on here that are saying 150 and over, im not the only one (reread my friend)

    And how are you coming across this market...ebay ? a few dealers in the US passing around the same car for 36 months from state to state looking for a buyer ? What claim are you making, there are hundreds of cars that sell in private hands, and through the ferrari clubs and auctions, and personally know that 308s have changed quietly for more than what you are and others on here are claiming.

    You claim the market value, if you do that, then you must take into consideration guys like me and guys like Newman and Rock and others that say 150-250...which alot of you are not taking into consideration but actually making fun of and degrading. If you want to measure use all formus, not a few guys and ebay....therefore your numbers my friend are not very accurate when you take in the larger numbers.
    Wasnt that the purpose of your thread....308 values ? or was it 308 values on ebay and W mart ? just making sure you get the accurate number my friend..thats all.;)
    Your welcome.:)
     
  25. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    My numbers are simply plugged into this:

    http://data.bls.gov/cgi-bin/cpicalc.pl

    That's all I did. Not ebay, not Wal-Mart. Sorry to let you down. If it is inaccurate, so be it.

    By the way do you think there are buyers out there today for your 308 at $150K? I will stand by my point that a 308 will never sell for $150,000. If that fact (and it is a fact - until you show me one that did) hurts your feelings, I am truly sorry.
     
  26. Newman

    Newman F1 World Champ
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    Dec 26, 2001
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    I remember when MSDesign put his low Kms boxer on the market for $150K at a time when boxers (BBi's) werent expected to get that kind of money and there were people that doubted he would get that - he did get it, then it got relisted for $175K months later and it sold again. He also started a thread trying to inflate the asking prices of boxers or hype the market by getting people to list their cars for higher prices - people slammed "us" boxer owners by saying the market, not asking price sets the value. Well, we keep pushing how boxers are undervalued and now things are turning around. I think his efforts had an effect. People with good cars arent giving them away for "market" price, we are setting new prices with our asking prices which goes agaisnt what people have said in the past. The 308s are great undervalued cars as well and the nice ones will get what people ask (within reason) but I dont think $125K is too much for a perfect 308 or better than new actually. Glass cars will command more, how much is anyone guess. I cant wait to bring this thread up in the future to see how wrong the nay sayers are. And like Ric said, you 308 owners are shooting yourselves in the foot by keeping the price of your own car down.
     
  27. Newman

    Newman F1 World Champ
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    You will eat your words, "never" is a long time.
     
  28. MS250

    MS250 Two Time F1 World Champ
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    You are funny as hell ROLMAO !!!

    If its in accurate ...so be it....so add to the mess i guess and the lies....you must be hanging with G.W quiet abit.

    I am led to believe now that you dont care, yet start a thread to create BS.

    For the record and i am happy to advise i bought the 308 "glass" car 2 months ago and almost hit 6 figures. Believe it or not, i have gone to 2 events now, where people have asked me and i have told them. Currently another ferrari owner in the ferrari club here in Ontario and has said it many times already i will pay you (Rick) plus the taxes and add 5K for your troubles. He has made this offer 3 times to me already in person...i still refuse and will continure to do so, i was thinking 125 before, but now...i am very firmly planted at 150, and i aint moving.

    I think you are really in denial, and actually very closed minded to think that an inaccurate website that you post, and a few fchaters (which do not make up anywhere near the minority of the 308 market) and taking it as the only gospel.

    Truly ashame....


    Paul, dont waste your time on Dr.Tommy or others, these are not the target market that understand, or appreciate the feedback. Let them keep there blinders on......after all....whether the 308 carb car goes to 150...250...300 it wont matter...cause these guys only are into 40-50K cars max anyway. Different buyers Paul....they dont understand.....and most likely never will.


    PS...heres a great ferrari !!! maybe you can add some shoe polish and armour all and sell it fo rmore ;)
    http://www.ferrarichat.com/forum/showthread.php?t=162970&page=2
     

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