New 348 listing

Front wheels on backwards. Why is it so few service centers and sellers get that part right?

All the best,
Andrew.

 

A couple of years and that will seem cheap as chips.

 

"interesting price" - At £68K (@$107K) That's one way of putting it, I'd go with: "ambitiously priced to say the least!".

Currently there are now two RHD 348 TS' for sale in the UK, one for £60K (1990 47K miles), and this one £68K (1993 35Kmiles).

The thing is, the £60K isn't selling at that price (and hasn't been for quite some time), so the indications to Me are that this £68K car is highly unlikely to sell at that price.

To be fair, with there being only one other RHD TS sale in the UK at the moment, and the prices of LHD's being all over the place (there are @ 18 LHD 348's for sale right now [5 of which are advertised in the UK but the cars are in Europe] and it appears people are trying to off-load their LHD cars whilst the market is high [and the LHD cars are selling very slowly, if at all!]), it's nigh on impossible to put an accurate value on a RHD car if you want to sell right now.

I'd say though that this car is in reality @ £13K~£18K overpriced at the moment and wouldn't be surprised to see it either stay for sale for quite a while (i.e indefinitely) at that price, or see the price reduced by quite a margin before it sells.

 

Only if the market keeps going as it is at the moment.

If the economy takes a sudden downturn, as can easily happen, someone could find themselves out of pocket on that car by £28K~£38K if it sells now for £68K.

The Ferrari market history has shown us over the years that after several years of static prices, suddenly the prices rise, reach a peak and then fall back again (not necessarily to their previous low price but not that much above it).

At the moment the market is on the climb and history tells us that there is a price fall to come sooner or later.

A big problem for the 348 is that styling wise it's a bit of a marmite car - You either like it or you don't, and rightly or wrongly (completely wrongly in My opinion!), it's has a reputation for being one of the worst, if not the worst, Ferrari ever made.

When the 348 took over from the 308/328 as the entry level 2 seater Ferrari a few years ago, 348 sales went up because it was the cheapest way to get into 2 seater ownership and so it's reputation and looks didn't matter so much.

Now however, the prices are climbing into 360 and even 430 territory, and like it or not, the 360's and 430's are held in much higher esteem than the 348 and are far more attractive to buyers.

As the 348 prices go up, they start to look a far less attractive proposition to prospective buyers compared to other models in the same price bracket, and at £68K, I'd say this car is pushing the boundaries of 348 values just a bit too much for the market.

 

The UK RHD market is all about rarity - with so few around (circa 100) and hardly any coming to the market, the price is bound to go up in a bull market. The good RHD 348's seem to be selling really quickly apart the one that's been around unsold for years - those dealers seem to have no appetite to push a sale with the market rising.

However, Forza 288 sold a RHD 348 GTS within hours a few weeks ago for over £60K, and that was unseen and needing paint and a major service. Autoficcina put a 60,000 mile on the market a few days ago for £60K, and that seems to have sold already.

So maybe a 34k mile one at £67K might be the new frontier??? Depends on the condition as well.

Although there are loads of LHD 348's being dumped on the UK market, theres not really an appetite for them so they aren't selling.

In reality, all the other Ferrari's have already gone that way and the 348's are just playing catch-up!

 

Whether you're sick of hearing it or not is irrelevant and changes nothing! - The fact of the matter is, the motoring world, and in particular, the motoring presses general consensus of opinion is that the 348 is one of the worst Ferrari's ever made, performance-wise, handling at the limit-wise and styling-wise (they also almost all agree that the 348 probably has the best steering of any Ferrari ever made!).

Also, being faster than other Ferrari models does not instantly make the car a better car! The 328 is slower than the 348 but it's a far prettier car with a better balanced/more predictable chassis and an interior that doesn't come off on your finger tips, hence it is more sought after and more highly valued.

Don't get Me wrong, as an owner, I think the 348 is a great car, so if it is the worst Ferrari ever made, then the others must mind blowingly good!

If RHD cars are now worth £68K then that £60K car should sell immediately (unless it's a complete wreck in reality), regardless of the dealers seeming to have "no appetite to push a sale with the market rising", because someone would snap it up as being a bargain at £60K.

The real reason that it hasn't sold is because it has always been over priced by a considerable margin - People in the market for a 348 simply don't believe the car is worth the asking price.

A RHD GTS might sell for $60K+ because they are über rare, but a TS with 35K miles on the clock for £68K? - Maybe this time next year but not right now.

At £68K you're not talking about the 348 playing catching up, that's overtaking the 360's and heading into 355/430 territory. Like the 348 as much as I do, and comparatively rare as it might be in RHD guise, there's no way I would say a 348 is a more sought after car than a 355, 360 or 430.

 

Well said Peter.

I thought that we had ditched any negativity from the annuls of history..... My car is a keeper, not for sale like most RHD 348's - one of the reasons that there are so few for sale. The UK market is realizing the real worth of the 348, especially those that have now been brought back to fantastic condition. There has to be a wide difference between a run of the mill car and one that has been prepared to almost concours standard.

The Autoficcina car would have been very well prepared even although it has 60,000 miles on it - they run better when used......no wounder it sold quickly.

 

Lets all embrace the current trend. Say what you like but this is the reality of the UK RHD
market. As Clive said its about rarity these days. 130 out of 8.500 approx. Thats rare in my book.

 

The "worst Ferrari made" topic has been beaten to death....move on.

 

Yes. Lets move on. Great idea.