Exotic car sellers? | FerrariChat

Exotic car sellers?

Discussion in '308/328' started by mike996, Nov 8, 2017.

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  1. mike996

    mike996 F1 Veteran

    Jun 14, 2008
    6,691
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    Mike 996
    Anybody here used sellers - like SwitchCars or whoever - to sell a 3x8? I think I am going to sell but am not interested in dealing with showing the car and, since the car lives where we no longer do, I prefer not having to drive it here (TX) just to sell it. I'm hoping one of those companies could essentially just "take charge" of the car and do the sale. SO...any experience?
     
  2. JV's89

    JV's89 F1 Veteran
    Owner Rossa Subscribed

    Jul 18, 2006
    6,607
    Pittsburgh, PA
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    John
    I can't help with your question, but I hope you continue to hang out with us.
    I've enjoyed your contributions to this section.
     
    furmano likes this.
  3. mike996

    mike996 F1 Veteran

    Jun 14, 2008
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    Mike 996
    Thanks! I got some recommendations via PM and will be communicating with two companies and going with whoever can do it with the least amount of hassle on my part! :)
     
  4. mike996

    mike996 F1 Veteran

    Jun 14, 2008
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    Thought I'd provide some info just to share in case others are considering selling...

    Both companies - one in mid America, the other on the west coast gave approximately the same estimate of what the car would sell for. Depending on condition, and, at this point neither of them have seen the car so they can only offer the typical selling price range AT THE MOMENT. Both say it would have been higher 18 months ago. Anyway, one company said 70-85K USD, the other, 70-89.5K. Again, where in the range is determined by condition. The mileage - around 33k, for my 328 - is figured into that price range. One company specifically asked about recent cam belt changes, stating that a car without a cam belt change in the last year or 18 months "is a non-sale." They recommended either me having it done before offering it for sale or they can do it when they receive the car. Obviously if they do it, that money comes out of the proceeds. They were comfortable that mine being done about a year ago was fine.

    Both companies would prefer having the car in their showroom as opposed to selling it where it is although they will do it either way though they both claim selling it in the showroom will produce a faster sale and typically the price will more than offset the transportation. Both can set up the transportation but it would be my responsibility to pay, either up front or they will cover it and take the transport cost out of my proceeds from the sale.

    Frankly, my wife (who doesn't want me to sell the car) is totally against using a company, saying that if I MUST sell it, it should just be a private sale. If the car was here, I might consider that but it's not practical with me in TX and the car in MD. But even at that, I don't want to deal with the process of selling - taking calls, showing the car, test drives, etc.

    I suppose I could do what we had intended to do initially, go to MD in the spring and drive the car back to TX. But we are leaving the country in late May and will be gone until late October. Maybe more thinking is necessary... ;)
     
  5. JV's89

    JV's89 F1 Veteran
    Owner Rossa Subscribed

    Jul 18, 2006
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    John
    I agree with your wife.
    Maybe think about it until next October. ;)
    FWIW, the couple of times I thought about selling mine, my wife talked me out of it.
     
  6. DGS

    DGS Six Time F1 World Champ
    Rossa Subscribed

    May 27, 2003
    60,655
    MidTN
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    In both my prior moves, I shipped the Italians via enclosed truck. Not all that expensive, and few worries, if you use a company that will make good any mistakes.
    And you might find a better market for a 3x8 in Texas than MD.
    (DC area strikes me as more new cars for show. Fewer buyers for classics.)

    FWIW, I bought my 328 from a consignment house in Massachusetts.
    They had it in the showroom, and were leery of tire kickers, given the proximity to colleges.
    They were not the best sellers. They worried about people being able to handle a mid-engine car, and tried to hype the horsepower rather than the handling. -- Probably an urban thing, in gridlock areas.
    But the car, at that time, needed work, and I negotiated the price down significantly.


    Aside; the thread title brings to mind exotic dancers selling cars. :p
     
  7. Skippr1999

    Skippr1999 F1 Rookie
    Silver Subscribed

    Dec 22, 2009
    4,216
    FWIW I sold three cars in the past year, sight unseen, via enthusiast websites like this one. Most people these days buy via internet and pictures. It wasn't very hard.
     
  8. mike996

    mike996 F1 Veteran

    Jun 14, 2008
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    Well, if you live 1600 miles from the car, I'll bet it's a bit harder. ;)
     
  9. Skippr1999

    Skippr1999 F1 Rookie
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    Dec 22, 2009
    4,216
    Probably so.
    My formula was:

    Upload tons of detailed photos to flicker
    Post flicker link in ad on fchat with some pics
    Scan all history to pdf files to email prospects
    Get deal done with wire $$$
    Have buyers trailer pickup car

    And keep bumping add to top of list
     
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  10. mike996

    mike996 F1 Veteran

    Jun 14, 2008
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    I decided not to sell the car at the moment but to wait until next spring.

    Re that, I was advised yesterday by a very well known classic Ferrari seller that waiting until spring was not in my best interests price-wise. He encouraged me to sell my car as soon as possible because, "The market is slowly falling off a cliff." He advised that the market has been dropping 10% per year since 2014 and that there is less and less interest in the 3x8 cars other than the few with extremely low mileage/totally original. He IS NOT referring to the fun/enjoyable part of owning the car, just the market value, which is what he deals with.

    I advised him that my motto has always been "Buy High; Sell Low!" so waiting until the price drops down to what I paid or less seems perfectly normal to me. :)
     
  11. howl

    howl Formula Junior

    Apr 10, 2011
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    Tom
    Ship it to Texas via enclosed carrier and drive it!
     
  12. mike996

    mike996 F1 Veteran

    Jun 14, 2008
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    "Ship it to Texas via enclosed carrier and drive it!"

    Well, that would be a solution BUT, to be brutally honest, I just don't enjoy driving it anymore. Even my wife, who has been totally against selling it has changed her view I was surprised when, a few days ago when we were talking about it, I asked her, "On a nice day in the Texas Hill country would you rather be driving the 328 or riding your Ducati Diavel?" "On the bike," was her answer. Same for me...on a day that would be nice to blast through the twisties in the 328, I'd rather do it on a moto.

    I'm not a collector so hanging onto a car/moto just to have it in my garage doesn't appeal to me. Well, OK, if I had a Vincent Black Shadow, I'd keep THAT! ;)

    Oh well, we'll see what actually happens when spring rolls around. I'm interested to see what I actually do! :)
     
  13. furmano

    furmano Three Time F1 World Champ
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    Jul 22, 2004
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    Furman
    All good info. The market may have downward pricing pressure at the moment but selling in the winter can be hard too. There does seem to be more than a few 328 GTS on the market at the moment.

    What is the actual average selling price for a nice 328 GTS with ~30,000 miles? $80,000?

    -F
     
  14. mike996

    mike996 F1 Veteran

    Jun 14, 2008
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    Per the broker - 75-80k would (as of right now) be a realistic SELLING price for a 89 328 GTS car with 30-35k miles but it would have to be in excellent condition with maint records, original tools/manual/trouble light, belt change within 18 months, etc. As I mentioned before, he said that IN HIS OPINION any 3x8 will sell for more today than it will next year. SO, of course, he has suggested that if I want to sell it, to sell it NOW. Since he is a broker, he makes more if the car sells for more which is one reason he would prefer to take it now. But, as he advised, "If you want to wait and sell it next year, you know how to get ahold of me!"

    FWIW, I have been watching several 328's for sale in various venues on line, most listed in the 85k range but none of them sold at that price; in fact, they didn't sell at all but that may be because the sellers wouldn't accept offers that were lower.
     
  15. Brian A

    Brian A F1 Rookie

    Dec 21, 2012
    3,086
    SanFrancisco BayArea
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    1983 US 308 GTS QV
    For me, my 308 has been like a membership card to a club of like-minded enthusiasts. I am amazed at the number of interesting people who have entered my life because I own a Ferrari 308. If you don't have that where you live, then I can certainly understand your sentiments about selling the car. Lots of other vehicles are also fun in the twisties.
     

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