Fair Market Value for a 348 Spider | Page 2 | FerrariChat

Fair Market Value for a 348 Spider

Discussion in '348/355' started by Jagbuff, Sep 26, 2007.

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  1. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck

    I was being facetious about the price.
    Congratulation, the TS is a very good choice - better driver's car than the spider. I have exactly the same car in a '92 (although the lower panels haven't been repainted) a lot of fun, replace the boat anchor wheels, add spacers in the back and you have a great handling car. Would you mind sharing the price, if not, did you pay more than $35K?
     
  2. wingfeather

    wingfeather F1 Rookie

    Feb 1, 2007
    3,653
    rock bottom
    SOLD! At least sell me the seats!!!

    Very nice! Looks to be in good shape.

    I'm digging the look of the front "grille" without the black trim ring. I might have to do that to my car. Was this an early model year feature?
     
  3. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    6,547
    Very strange thread. The OP at first sounds like a motivated seller then starts to argue with everyone who throws out a real-world value. High miles (for an exotic), leased history, poor documentation. Can't see you getting $50k without dealing with alot of tire kickers and at least a few Nigerian government officials :D

    Sounds like you really are looking for excuses to keep it, which is great. lease some additional storage space.
     
  4. TheOnlyest

    TheOnlyest Formula 3

    Sep 25, 2007
    1,686
    Las Vegas Nevada, US
    Full Name:
    Steve
    ok ok, I knew the $40K thing was a joke... guess I need to work on my chat room sarcasm skills, I was much better at that in the 90's.
    Anyway, the car I bought has 68,300 miles on it, that comes to an average of 4268 miles a year, which is exactly what I wanted...
    I am leary about the low mileage ''garage queens'', I wanted a car that had been driven (properly) enough to keep everything moving and work the bugs out.
    The car had a full engine-out major a year ago with full clutch service including a kevlar disc and gearbox update (the ''spring loaded goo'' dampner setup was eliminated) I talked to the mechanic (25 year certified) for about 2 hours yesterday, he has been exclusively servicing the car since '99 and he explained it all. The owner was a high ranking Army officer (Colonel I believe) and a lawyer, apparently no expense was ever spared to keep the car perfect, and totally stock, I guess his big thing was to keep the car with all OEM parts. I was told that the car was brought in at least once a year for a complete inspection, and anything that was worn or needing replaced was resolved... including melting intertior panels and seat bolster wear.
    I will be the 3rd owner, and i'm paying $41,500 for it... and that was talked WAY down from $48K. The added bonus for me is, the car is in southern CA, and I live in Las Vegas... they are delivering the car to me tomorrow at NO COST to me!! It just happened that they were coming to Vegas this weekend on another car related matter anyway. ;-)

    So, i'm broke now, does anyone have a sweet deal on a clean used Tubi for me??? lol
     
  5. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
    western hemisphere
    +1

    At $53K, you'll need a place to keep it for a while.
     
  6. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    Sounds good, congrats!
    Thanks for the info.
    :)
    BT
     
  7. elgin328

    elgin328 Formula 3

    Apr 11, 2004
    1,034
    near Atlanta
    Full Name:
    Mark
    Thank you

    looks like you have great taste as well
     
  8. dkny

    dkny Formula Junior

    Jun 8, 2005
    575
    Kingston, NY
    Full Name:
    dave
    I was thinking, damb, for 40k I'll use it for parts for my spider.... $55k IMO
     
  9. Tomf-1

    Tomf-1 F1 Rookie

    Jan 17, 2004
    4,528
    Leawood KS/ South FL
    Full Name:
    Thomas
    +1. I don't often chime in on these matters as I believe perceived values are personal but I MUST completely agree......
     
  10. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
    western hemisphere
    -2 on your +1, because I already did the +1 thing.
     
  11. rhunt

    rhunt Karting

    Nov 20, 2003
    51
    I just bought my 1994 348 Spyder last week, it is Red, tan and black top. I would rate the car an 8.5 out of 10, it has all service records and has 38k miles on it. The dealer started at $58 and I wound up at $52k for the car. The only problem that I was able to find is that the passenger side seat belt is stuck in the rear position. I had a private mechanic shop that works on only Italian cars perform a leak down check on the engine and it came back passing with flying colors, 1 and 2%.
     
  12. B Feelgood

    B Feelgood Rookie

    Oct 16, 2005
    35
    Pittsburgh, PA
    Full Name:
    Brian
    Did you get the PPI done by the dealer that was selling the car? 1%-2% leak down on an original 38,000 mile engine seems almost unbelievable. Congratulations by the way :)
     
  13. BigTex

    BigTex Seven Time F1 World Champ
    Owner Rossa Subscribed

    Dec 6, 2002
    79,406
    Houston, Texas
    Full Name:
    Bubba
    Hey 'frenchie'.......that's pretty nice.......

    Wanna do some Owner Finance with a neighbor? I'll send Lady Valeria over to pick it up.......


    You know, a 'little bit a month' with a balloon...creative financing.......someone has recently stolen my ID and SSN # and is living a LOT better then I right now, so a Credit Union or a Bank won't touch me....LOL!
     
  14. rhunt

    rhunt Karting

    Nov 20, 2003
    51
    I got the PPI done at an independent shop as to not let the dealer selling the car tell me what I wanted to hear. I love the car so far and look forward to driving it as often as possible.

    Rob
     
  15. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck
    ...I believe I wrote that I was considering selling the car, and asking for a fair market value. My feeble attempt to infuse tongue and cheek humor obviously failed I should have been more precise about the car condition. I thinks it's ok to question/ share my views as multiple ferrari owner with someone that suggests a 94 Spider with 38K miles complete service and several desirable add-ons (granted no records - but go on carfax and see how many exotics are leased, you'll be surpirsed) is worth $45K and mentions that he passed on very nice Nero 355 priced in the high $40sk, then turns around and buys a 91 TS w/ 67K miles for $41+K. I know records are important but come one - that is a little stange. I have a 92 TS, with 55K miles, fresh engine, redone interior, full records and completely original (ie still has the black paint on the lower sills) and I don't think it's worth more than mid to high $30Ks, there again I am may be wrong....
     
  16. clutchplate

    clutchplate Rookie

    Dec 16, 2005
    47
    Here are some e-bay comps from the past two months.

    Ferrari 348 prices

    Date Year Model Miles Color additional Price

    09/07 1990 TS 36,590 Grey/Red Maj/05 35,500
    08/07 1990 TS 41,250 Red/Tan Modded 40,900
    08/07 1994 Spider 10,397 Yell/Blck 59,990
    08/07 1994 Spider 17,144 Yell/Blck 15K Service 52,300
    08/07 1994 Spider 23,600 Blck/Tan Belt Sevice 69,900
    09/07 1994 Spider 45,900 Red/Tan New Top 46,000
    09/07 1994 Spider 21,627 Blk/Grey No Doc Servc 48,600
     
  17. speedy_sam

    speedy_sam F1 Veteran

    Jul 13, 2004
    5,559
    TX
    Full Name:
    Sameer
    I value the car as follows:
    Car: 48000
    355 wheels: $2500
    X-OST/Hyperflows: $3500
    Challenge seat: ?
    = ~$54,000

    Just a guesstimate.

    You have nice cars. Don't sell them cheap.
     
  18. TheOnlyest

    TheOnlyest Formula 3

    Sep 25, 2007
    1,686
    Las Vegas Nevada, US
    Full Name:
    Steve
    Jag, I think you must have missed my post briefly explaining WHY I didnt buy that 355... one thing I didnt mention was, he wanted $53K from me, but ended up selling it for $47.5K to an Armenian guy. I offered you $45K because that was my Ferrari budget! I didnt actually expect you to take it!
    #1 I honestly didnt want the Spider, I have another car that is a convertible, #2 the deal on the car I just bought was already in stone when I made you that offer! The TS is what I really always wanted. Anyway, I found the deal of a lifetime in this '91, and I took it...
    and by the way, ITS IN MY GARAGE NOW!! WOO HOO!!!

    As a side note, I havn't flamed you anywhere... i'm sure you're a great dude, and I have absolutely NO beef with you at all... and I sincerely hope that you have no beef with me either :)
     
  19. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck
    None whatsoever - I think you made a wise choice picking the TS which is IMHO a better driver's car. I hope you enjoy it and would recommend X- OST over Tubi really makes the engine sound wild!
     
  20. TheOnlyest

    TheOnlyest Formula 3

    Sep 25, 2007
    1,686
    Las Vegas Nevada, US
    Full Name:
    Steve
    I'm gonna take that advice, Thanks! That seems to be a popular opinion... plus they cost WAY less too!
     
  21. Night life

    Night life F1 Veteran
    Silver Subscribed

    Dec 1, 2007
    7,313
    The city that rhymes with fun in Canada
    Full Name:
    Roberto
    One of the best threads i have read, great info very informative and funny, by the way I am the new owner of jaguff's spider he received a fair market price and he is one hell of a nice guy thanks again jag.
     
  22. wingfeather

    wingfeather F1 Rookie

    Feb 1, 2007
    3,653
    rock bottom
  23. Jagbuff

    Jagbuff Formula 3

    Jan 13, 2004
    2,267
    Site of US F1 Race!
    Full Name:
    Franck
    Roberto, It's been a pleasure to deal with an informed buyer that has done his homework. I promised to keep properly cocooned until it's time for it to migrate north ;) I hope that you will enjoy it after things thaw up there in Canada, drive the heck out it, and be safe.
     
  24. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    Seems like a good price to me! Fro some reason the spiders have dropped in price over the past 2-3 yearsabout twice as much as the TS and TB. Any guess why? Too many on the market or something?
    BT
     
  25. VTChris

    VTChris F1 World Champ

    Aug 21, 2005
    13,259

    yup, too many...
     

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