How big of a project would this be?

If you want a QV Mondial 'vert, then go look for one in better shape. As a data point, I had the interior redone on my 328, it was 20K a decade ago.

If you have a lot of money and time that you need to burn, then sure.

 

Its worth that money in parts alone

 

Thats great if you want to part it out.

 

Mine is like this. 101k miles, PO replaced the fuse box and did a major, but its got a lot of needs. Mostly sits in my case because life has me occupied for now and I have two low mileage nice toy cars that don't have needs.

What you will run into is if you want a project one, you can end up dumping a lot of money into it. Even a nice looking car can take a lot of money. People tend to neglect things. This is not just Ferrari. Everytime I go shopping for a toy car its amazing how little is done to maintain them. If the car runs and drives then its fine for way too many owners.

Mine starts every time, drives fine, but needs the suspension rebuilt, the fuel system gone through, the windows and sunroof cleaned/greased, ac clutch failed, and my interior is tired. Now, if you have time and do it yourself parts are reasonable unless the part is only available from Ferrari in which case, you are in for a world of pain. At least a world of pain compared to buying parts for a Honda. I have paperwork from a Ferrari dealer that the suspension bushings were shot in 2010, but the last two owners did not touch them. Someone bypassed the fuel pump relay rather than replacing the pump or the filter.

You are going to do a balancing act. If you spend up for a nice one it will still have needs in all likelihood. It will look nicer. It might have a service history. Might have the extras like the tool kit and the manual, but its an old car and many have sat for years. If you are going to spend up, get an inspection. If you are going to buy on the cheap with the idea of fixing it up, well you can roll the dice, but would still recommend an inspection, but the money saved if diying will pay for a lot of parts.

Lastly, I wouldn't use one as a daily. Part of why mine is a low priority is because it takes so long to properly warm up. My Viper or my Morgan 3 Wheeler are useable on a shorter drive. The Mondial QV takes 15 minutes on the highway. 2nd gear doesn't want to exist until its warm. You don't want to rev out the engine while its cold. Then you have the terrible design choices like the electric windows and locks having no protection from rain water that goes into the doors. If you insist on it, get a coupe. Do you really trust a 1980s designed soft top in all weather?

My hope, whenever I do get to fixing it up is so that I can take it on trips. My cars has dents and some paint issues. Looks fine from 10 foot, but its not mint. Not as concerned with it being in a parking lot overnight.

 

I guess you didn't buy this? It really depends on what you want to do. Personally I find the red lines on the interior hideous, but one can leave it the way it is and make it technically good if it is for a daily driver.

If no serious issues you it would cost you between 2-5k to make it technically in order and don't care about its appearance, drive it like you stole it! Ps I still would do something on those red lines and the tear.

If you want to also do something on its appearance and other stuff it can easily go passed the 15k.

 

My QV warms up very fast; photo taken this morning 3 mins after starting, just after joining the highway. 26°C outside air temp.

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I am using standard coolant, OEM thermostat, a 0.8bar expansion tank cap and 2 rads that only start when the water temp goes beyond the first intermediate mark. It warms up very quickly and keeps the temps in check perfectly. The following photo was taken in jam a few days ago, 35°C outside:

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