Seems like the same car as I believe the dash/airbag has been recovered. (and same vin). Appears that they corrected anything that needed attention. Buy used FERRARI F1 355 1998 BERLINETA FERRARI DEALER SERVICD 7/14 GREAT SHAPE LO RESERVE in Rumson, New Jersey, United States
IMO these cars are underpriced for the experience of ownership. Even if he paid a "premium," he still wins. Try this owners: forget what the market is saying and ask yourself "Would I pay $50k, $60k, $70k, $80k...for my car? I was amazed at the number I stopped at.
You are correct. That's the same ad I had found too. New dash leather, stickies repaired, wheels refurbished, etc. should be good to go. Thanks, Skipp
Pretty sure the car was listed on Ebay by the previous owner. Car was in NJ at the time. Doesn't mean it sold through Ebay. Darren is quick to find deals. A couple of years ago I was looking at a car in Road Island. I was supposed to go see it. 2 days before I was to make the trip the owner called and said it was sold. Showed up at Black Horse a week later. Nice looking car either way. 3 previous owners.
Thanks guys. Apparently the owner of the past 9 years passed away and his family was selling the car. If anyone in NJ or here knows the last name of the deceased person, please send me a PM.
Congrats on the purchase! Hopefully you will enjoy the 355 as much as the rest of us passionate posters do. Steve
Congratulations. Looks stunning. These are only going up... Keep us posted on your adventures with lots of photos. Robb
And these days when you buy a 355, you are also buying 355 Ferrarichat drama . Buckle up. It's gonna be a long ride.
I'm not sure what you guys refer to as a premium. You're always gonna pay a dealer more than a individual. In this case at least I paid a dealer who specializes in 355 sales who has a great shop ( according to people here) sort the car. I always find it funny how some folks think you should pay 65, but not 70. What's 5k these days anyway. It's more important to secure a quality car
Congrats, Skip! Glad I could help the decision making process by letting you take a cruise in my TR! Anyway, I wish i still had my 97 Hyuperion Blue Berlinetta --- FYI I just found out that Eric C on Fchat now owns my old car! Anyway, you will love the 355 and I think I may just have to get back into one since I miss mine so much. Only difference is next go around it will have to be a 355 Challenge!
Agreed 100%! I don't think you paid a premium by any means. Educated buyer buying from an educated seller to secure the car that he wants today. Sounds like basic market factors at work here deciding actual value today.
I don't know... things seem much more friendly and welcoming the past week or so. I've posted the last week more than the previous 6 months because of it! Time for a F355 group hug.
By the way, the 65 vs. 70 was just an example, not actual price Group hug !! Can't get one from my wife. She thinks we're all children
I read a book about our group as a kid. Lord of the Flies. Hopefully our dysfunctional family will rally to all owners (new and old) and encourage those trying to join. It is a pretty exclusive group with less than 11,000 slots worldwide. Robb
Nothing wrong with paying what you think is fair and getting what you want. Waiting a long time also costs money - and other valuable commodities. Some people will drive all the way across town to save a nickel a gallon on gas. I for one like the buy it now price options on ebay and am happy to meet at a fair price in the middle so both parties feel good. I really hate the negotiation in a new car purchase - just turns me way off. I let my wife beat them up... Robb
Skppr, being an investment advisor, what do you think is driving the car market lately? Some of the older Italian cars are significantly appreciating over the past year or two. Any time things shoot up too quickly, is it a bubble or a new reality? I was just discussing this with a friend of mine last weekend. It is always interesting to hear different points of view.
It's not very complicated when you think about it. The fact is that there is more wealth today than ever before. The money has to go somewhere.
I'll chime in here. Asset bubble in general. But with the 355 GTB there is another factor. Look at the disproportionate price of GTBs in the US. It's because, IMO, when the cars were introduced the demand in the US was for spiders. Thus the perception is that GTBs are rare. They are, somewhat, in the US, but world wide they are not. Nevertheless, this perception of rarity is driving the price of US GTBs up which then feeds on itself. In the collector car market then same thing happens. Prices go up. Novice investors/collectors think it's a sure bet and buy in driving prices up further. Ultimately it is the last in that get burnt. No different than the real estate bubble or trading a momentum stock. With regard to Ferraris in general, recall the speculation just before/after Enzo died. Back in 88 or 89 people were selling 308 GTBs for $90k. Glass cars for well over $100k. In the mid/late 90s you couldn't give those cars away. A 308 GTB QV was worth $15-$20k tops. And, by the way, do you wonder why Ron Pratt is selling his entire collection? That may well be a signal that the end is in sight. Maybe not, but......
You might find this video interesting. Viral Video Shows the Extent of U.S. Wealth Inequality | NationofChange
The situation now may be a little different. 10 years ago many were saying that the 355 was a POS and too costly to maintain. They were over looking the fact that the 355 is the most beautiful car Ferrari ever made and many now know that it is the most amazing car to drive. When we take into account how many have been totalled(we see them being parted out regularly) It makes you wonder how many there really are out there for the "real" drivers who appreciate these cars. Lets face it, Dinos are being collected for investment purposes only. How many are actually driving those cars? The 355 is indeed IMO something very unique and many are now realizing this and there just are not enough of them to go around. I don't believe that a 355 will go to crazy heights like the Dino but it will find a natural ceiling of what people are willing to pay to drive such a great car and I believe that ceiling will in the next few year be in and around the 125gs mark. In the very long run, I believe this will double at the least.
Thanks again for the warm welcome. I agree with most of the above regarding asset appreciation. If I had the true classic Ferraris I'd be selling. When you're talking 1,000,000 and above, I think there's lots of room to get hurt financially. Sub 100k, not so much. These cars should hold or appreciate long term, but I don't see them as a great investment because of the cost of maintenance, property taxes, insurance, etc. they are a pleasure item that may pay for themselves over the long haul. I have a 930 turbo that has shot up recently. That car is more important historically to racing, etc. than a 308, 328, 355. It may keep appreciating. I think what makes these 80s and 90s cars special to people long term is the smaller size and analog driving experience. I think people will continue to value these attributes going forward. I can toss my Alfa Spider around at 45mph and get the same pleasure that I have to be going 85 mph in my 991 S. The possibility of getting hit by a SUV in the Alfa is another story ! I don't think we have a problem with the car market. It's frothy, but nothing dot comish. I can't discuss the stock market on the Internet for compliance reasons, but it's all intertwined. The only thing that has suprised me and given me some pause is that the 80s cars have been appreciating earlier on the timeline than I expected.
