My weekly 330 GTC Whine {Part II}

To be in very nice original condition will usually require low miles. If that is what you want, it all goes with the territory.
If I were you and had the money, I'd buy it in a second.

 

Dear Mr. Gunboat,

Are you a lover or a fighter? That is, do you want to drive your old Ferrari or do you want to spend endless hours fiddle diddling around in your garage? If you enjoy the garage part, then buy this original unrestored car and you will have almost more fun than the law allows. Your original car might win a preservation award at a local or regional meet, but that's about it.

The sad truth is the paint and finish quality on these old Ferraris was never very good to begin with. The bad joke that they used to say at the factory was, "You can't a see that bad paint job at 120 mph."

Thus, IMNSHO, this current mania with originality is misplaced. The original thought (sic) was to avoid cars that had been modified by less than competent mechanics. Americans it seems can't resist customizing their cars, and a lot of great cars have been butchered over the years. So when you buy an "original," it will still have all the problems that were built in at the factory, but at least you will not have to deal with any new unknown issues that have been caused by people with good (or not so good) intentions.

Indeed, I was discussing this issue with Gerald Roush of the FML, and he said that it is a safe bet that every Ferrari from the 60s (and most from the 70s) have been wreaked at least once. So, again, always keep in mind the Roush mantra:

1. Condition.
2. Condition.
3. Condition.

Finally, as a counter point, many people over restore their cars. If you like this look, that's fine. But, to me, there is something off key about having a car that looks better than the day it was built.

Hope this helps, DrTax

 

My concern would be chasing leaks, gremlins, and other problems forever. My car had been with the previous owner for 20 years with very little done to it and very few miles put on it. While it drove ok on a short trip I did not feel comfortable driving it for any distance. That was the start of the restoration I am in now. I had a great basis to start with; an unmolested, solid car that needed everything freshened up. I will know exactly what I have when I am done. If you can find a car that is regularly driven, that is worth a lot in my opinion. It doesn't have to be a show car as long as it looks presentable and drives well. To pay a premium for a car that has been used very little for a long time is something I would be wary of. It may be perfectly fine but I believe lack of use is the hardest thing on these cars. My car hopefully will be done later this summer. I would be happy to let you inspect and drive it and use it as a comparison to whatever else you look at. These older cars should be driven regularly, not locked up in a garage.

 

a bit of advice for what its worth... there is NOTHING more expensive than a cheap Ferrari (or boat or airplane).

I have owned 7 Ferrari's over the last 8 years so I am well versed in what it takes to own these cars.

My Daytona was a really, really nice driver and when I bought it, I just wanted a "driver". However, it did not take long for me to realize that if I wanted a "very, very nice driver' or a car I could show it was going to cost close to $100,000 to make that happen. I chose to sell the car to a person was content with a "driver" (it is now being restored!) rather than drop 6 figures...

A GTC, or any vintage Ferrari is going to cost close to 6 figures or more to restore and that is assuming it does not have issues (it will).

If you are going to buy a Ferrari, spend the most money you can on the nicest car you can find, it will save you thousands of dollars and you will actually enjoy the car.... If this means you buy the world's nicest 328 instead of a tired GTC, you will be a much happier owner!

Chris

 

Chris, you are exactly correct. I have had a few Ferraris over the years and I have seen that you may be better off spending the money up front for a nice car if you want to go driving right away. When you buy a car that needs work you are committing not only money but also a lot of time into the project. The money you spend on a restoration is great for peace of mind but is not money you should expect to get back on resale. Why do we want these cars though. I want mine for the enjoyment not for the resale. I don't want to throw money away but I am willing to spend money on my hobby. Everything we do costs money. My car is my escape, not my 401k. I can justify to myself the expense of restoration as long as I know what I am geting into. $100,000 is pretty close to what it takes to restore one of these cars. The big question is what do you want to do with the car when it is done. I hope to keep my car for some time and amortize the expense over the hours of enjoyment I have with it. Others may feel differently and that is ok too. I feel comfortable with what I am doing.

 

I repeat one mo time for emphasis:

Always keep in mind the Roush mantra:

1. Condition.
2. Condition.
3. Condition.

 

After buying (and getting burned) on a few less espensive Ferraris myself, I've developed my own buyers guide for sub $150K Ferraris, which may be useful to you.

1. Compression
2. Compression
3. Compression

Hope this helps.

 

Uro,

Miles going backwards is a very bad sign. On average this car has driven 500 miles a year?.

My Daytona showed in its history 30K miles in the first 6 years or so. That is when they were new and were just driven. Only towards the top of the market in 1989 mileage slowed down to a crawl. My car was restored in '89 at 35K miles and has now 51K and I'm not even completely convinced that that is the real mileage, since 11K are mine.

20K on a 330 would seem almost impossible. Have a compression and leak-down test done. That will tell you a lot.

 

If the interior color has been changed then this car is not original. I would certainly do alot more investigation into this car prior to purchase.