Mr. Sheen's latest assessment: Never good for us 348/355 owners "We have four diverging markets in the Ferrari world: The deep-pocket players are shifting some of their assets into high-quality collectibles, such as the best-of-the-best Enzo-era Ferraris which are steadily moving up. The middle market, which is the $500k-to-$1m Enzo-era cars and the 288s, F40s, F50s and Enzos is strong, but with token upside. The flat-to-down bottom market includes lower-tier Ferraris, such as the 308s and 328s. These cars go to players with fewer assets who are focused on preserving their cash. As for the Montezemolo-era cars, they only go down. A rising tide does not lift all boats equally. "
348/355 are not now or probably ever "Investment Grade" Ferraris...I certainly hope that's not news to anyone here.
Right, and the same is true for pretty much any of the mass-produced V8s. Even 328 prices are stable only at the top end of the quality rung, and that's because of attrition and it's position as the last of the full-tube 'classic' designs. Prices will continue to push down for all the V8s as the 458 hits its full production stride. *Note* this isn't a bad thing if you're a bottomdweller like me
This is inevitable, as we all agree. Undesirable, perhaps, since they don't become a "lesser car" from the day they were built. I still find the F355 very capable, and is every bit a supercar if in the classic sense . It's good news for the Ferrari collector wannabes like me!
I wonder if these older cars (348 & 355, to some extent the 360 eventually) will be seen as slow compared to cars that have came since. There are literally thousands of 500hp+ cars on the road and in a straight line at least could give any of these Ferraris a run. This isn't to say it is fair, but it may be reality. IMO one thing that might turn many off to the great looks of a 328 or 308 is that it "only" has 210-270 hp. It seems everyone has 300 hp these days in the entry-level econo sporty car.
What are you guys saying??? I was totally counting on my 348 being worth at least $100,000 by 2045???? Kai
Sheehan out of context. I am sure this is meant with regard to collectability and Ferraris. With few exceptions, the cars after the Dino 246 are still on a downward are flat trajectery. Big news there. These cars are fro drivers, not collectors anyway, you know, people generally like us. Which is great news because these are the most fun cars. The 308/328 is extremely popular among the iconoclasts. The GT4 has become a cult car, still not collectable but with a fiercely loyal ownership. Don't even try to talk to one of the Brotherhood about a 348's shortcomings. No one but Ernie is going to give it play. The 355? Nothing you can say bad about that car's driving experience, but there are always the header and valve issues lurking. Still, come on, it's one drop dead gorgeous V-8 Ferarri. After that, the 360, 550, 456, 575, 430, etc. Driver's cars and not a collectable among them. Great news for people who actually look forward to getting out and driving these incredible machines.
So what's the estimated bottom of a 348/355? Seriously have we reached a point where Fcars will be in the low 20's to even the "teens"? I say no way, no how. I don't think anybody bought a 348/355 as an investment, but I do eventually see the potential for our cars to regain some of their value...ESPECIALLY WITH SO MANY OF THEM GETTING TRASHED BY ABUSIVE/NEGLIGENT OWNERS. AND OF COURSE THERE ARE THOSE LIKE ME THAT TOTAL ONE EVER NOW AND THEN. So the nicer ones will eventually be the only one's left.
if you are selling a 348/355 dont give it away! giving it away puts the price down for everyone. hold your price and eventually prices will go up if one 355 is 50k and another 29k they are no longer worth 50k - no matter the condition cause buyers assume if one is for sale for 29k, they all should be
people sell their 348/355 to upgrade and they sell them very cheap. why upgrade when you have the hottest looking ferrari ever. keep them and only sell them at the highest price possible if not KEEP IT!
I am very biased but the only upgrade to the F355 is a 288 or F40. Yes, I have one of my top 3 dream cars. Rob
When I lost 10k on the stock market in a matter of hours I dumped my entire portfolio and bought my 355 GTS. I think the car is still worth what I paid for it a year ago, and even if it isn't I wasn't able to drive my stocks around or listen to my stocks rev to 8500rpm
It may be a sellers market but look at OPEC and the diamond market. Both are worth very little if they produce all they can but when the market dries up because no one agrees to sell below a certain level all hell breaks loose.
I bought a Euro dry sump 308 GTB for 22K and put about 5K into it. Hmm...wonder if I could make some money on it... I did not buy the car as an investment but it will be, as I have no doubt that even in this economy I could sell this car for 10K more than what I have into it, and it's not going down in value; there are too many "308ers " who know that this model, along with the Euro glass cars are THE 308s to have, and they didn't make many of them and God only knows how many are left. IMHO, anything that is fuel injected sans the super cars (288, F40, etc.) is not going to be "collectable" except, perhaps, the 512BBi, as they didn't make too many of them. Then again, it's not all about the numbers; there seems to be some kind of "intangible" whereby one model of car seems to "get hot" for no real reason a la the 246 Dino. Could this be the 355 in the future? Who knows...but they would deserve it in my book As with other investing, a good bit of luck is involved along with some tangible insight. That being said, I think Sheehan is a "glass half empty and the other half full of stagnant water" kind of guy, i.e. he seems to enjoy, to a certain extent, dissing Ferraris. I think most owners feel that if the car goes up in value or even stays relatively the same, that's great. If not, they bought the car to enjoy and the depreciation is worth that enjoyment/passion. I do
I couldn't agree more as I feel the exact same way. I didn't buy my 348 as an investment, I bought it because I have a passion for it and I knew full well that the value may drop by $30,000 or more...but did that stop me? HELL NO!!!!
