Ferrari value

I am wondering why it is difficult to sell a Ferrari these days. Is it where the advertisements appear, the financial state of the economy, individuals overpricing their car. I have a 85 308 in very good condition, ok maybe Prugna is not the color of choice --- is color a factor??? Anyway no one even calls -- is the market for 308s gone and those individuals have their dream. Never have I not received calls on my past cars, be it Porsche, Jag, Corvette, Lotus but the 308 nothing.

 

Economy, yes
over-pricing, related to the economy
Prugna, not a great resale color

If you want calls, continue lowering your price until there are calls.

 

I guess it depends on where in the world you are.
Also how much you are asking for your car, and how good it is.

A lot of people want their Ferrari to be red also!

 

Live in Southern California, I do not think 31K is too much, and it is in very good shape I do not believe that anything is excellent ---excellent is way overused in todays vocabulary. OK color might be an issue and thanks for the responses

 

I haven't seen the car but generally speaking $31K is a good price for a good 85 QV.

seems fair to me

 

Compared to similarly priced other sports cars, people are terrified of Ferrari's. They sit in a really odd spot sports car wise and they require an owner who loves Ferrari's and 308s in particular.

 

when did you lower the price?


http://www.alfabb.com/bb/forums/alfa-romeo-cars-sale-wanted/162353-1985-ferrari-308-gts.html

This ad has it a $38K

 

you won't get calls at 38K for sure. A 355 just sold in the same area for $35K.

 

Banks are not lending on collector cars so it has to be some one that wants the car and has cash. There a lots of great used exotic cars out there for $30,000. Heck there are lots out there for $20,000.

 

tru dat. Very few banks will touch collector cars lately. Capital one and all sort of other companies used to finance them. NO longer

 

Your correct 38k to 31k and no one is knocking ---355 at 35k need I say more-- interesting that the values for great cars are really losing ground

 

When did you lower the price?

 

While were on the subject how much should i pay for red 1980 gts with 47,000 miles on it.Drove the car and it is a great driver, no prob. that i can see mech wise,it is missing pass side mirror and latch to open engine bay cable broke.thanks

 

Back in 97 when I bought my 308 I paid $34,500. I had $20,000 in cash and I wanted to finance the rest. I wanted 4 years to keep the payments low (I paid it off in 18 months)

Anyway, I went to my usual bank who laughed at me wanting a 4 year loan on ANY used car. Said "no way". Fine.

Went to my other bank. The loan officer said "sure" (and that is an exact quote). I asked why this wasn't a problem like I was told it would be - and this is another exact quote - he said, "Because it's a Ferrari"

I swear on my life that's what the guy said.

 

But that was 1997

 

Very true - I was very lucky when I got mine. I got some financing on it just to keep some cash in the bank.

We would need a LOT more information than you are giving us to give you even a rough answer on this one. Even then, your best bet would be to take the car for a PPI somewhere. Bring THAT information back and you could get a pretty good answer. If the mirror and engine bay cable are broken that could, in my opinion, be indicative of a car that needs a LOT more attention. Just how deep are your pockets?? Do you have even a starting point pricewise on the car? If you got a serial # there is a chance that someone here on the board knows the car and can tell you more. Did you run a carfax yet? That can tell you a lot of the history - but dont believe everything you read in one - some companies DONT report to carfax.

Just too much more to keep typing.



PDG

 

Interesting that you don't answer. If you just lowered your price, you weren't getting calls because you were drastically overpriced.

Your car will sell when priced at market. Cold but true.

 

We would need a LOT more information than you are giving us to give you even a rough answer on this one. Even then, your best bet would be to take the car for a PPI somewhere. Bring THAT information back and you could get a pretty good answer. If the mirror and engine bay cable are broken that could, in my opinion, be indicative of a car that needs a LOT more attention. Just how deep are your pockets?? Do you have even a starting point pricewise on the car? If you got a serial # there is a chance that someone here on the board knows the car and can tell you more. Did you run a carfax yet? That can tell you a lot of the history - but dont believe everything you read in one - some companies DONT report to carfax.

Just too much more to keep typing.



PDG[/QUOTE]

Thanks for the ans, 38,000$ canadian is what he wants,will get a ppi,the vin #28397 and its a canadian car, he does not have any paperwork with it,the guy he bought it from never sent it to him, but like i said the car runs great(yes i do have some expertise in mech all be it not on ferrari's)

 

I've been trying to sell my 328 for 36-37K; ain't gonna happen in this economy. As some of you have very aptly stated, the fact that lenders are no longer...well...lending for these kinds of cars makes it very diificult for all but the "cash rich" to buy one. The prudent buyer knows that there are great deals out there, just as the savvy real estate investor knows the same pursuant to housing. In other words, why spend 31K for a nice QV when another one will show up for 23K, or a 328 will show up for 29 or 30k? Fun times IF you're a cash-rich buyer.

 

These days Canadian$ = US$ near enough. It's a last-year QV which is good, but prugna is not the best color. Personally I'd advertise it as "dark red" or something. Does it need a service? Put it this way, $38k would buy an excellent '85 QV with a full major service just completed, in rosso corsa, with low miles. That will also buy a nice 328, 348 or even a 355 that needs TLC. Anything else and you can start subtracting money. $31k and you can buy that same excellent rosso corsa '85 QV, but needing a full major. And in certain circumstances, less than that. Definitely a good time to be a buyer, not so much for sellers. IMO though, these cars will rise in the next 5 years. We'll see.

In 1997 I financed my first 911 at Bank of America with only $1k down, and the loan officer said "I really want to make this happen for you, we'll find a way." And he did. These days, no way will they finance anything more than 3 years old. Only someplace like JJ Best will, and they want 20% down or more.

 

I just traded my 308QV for a 328. My credit union offered me a 3.99% 60-month loan. There are institutions out there who are willing to finance such old cars...

 

Holy ****

http://www.fantasyjunction.com/cars/986-Ferrari-308%20GTSi-3.0%20Litre%208%20Cylinder

1980 Ferrari 308 GTSi
One-Owner, California Car From New.
Price $19,750

 

Left out the mileage.....105K

(NOT a good deal).

Ace

 

I do not spend much time on a computer so I apologize for not answering in time --- To answer your question I lowered the price in the September time frame.

 

September is as little a 6 days ago... pretty clear that you got no calls due to price...

The market is what the market is. The real question is do you want to sell for market? That could be as low as $20K. $25K may be all the money for an off color car today...

If you can, post a pic. curious how the interior colors work as well.