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Value of wrecked 355 for parts?

Discussion in '348/355' started by Marcus 27, Nov 10, 2014.

  1. Marcus 27

    Marcus 27 Karting

    Feb 3, 2004
    136
    Unfortunately my '99 355 F1 Spider has been badly damaged in an accident (I was OK).

    I could potentially buy the car back from the insurers and sell it to be dismantled for parts. Because the chassis is distorted, it isn't permitted to rebuild the car (Cat B in UK parlance), but the engine/transmission and many other parts seem OK. The serious damage is confined to the front left side. The roof and interior look fine (apart from airbags). It's a UK spec car and had done 28,000 miles - the cam belts were changed last year.

    Can anyone suggest what the car would be worth if I sold it for dismantling?
     
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  3. Rifledriver

    Rifledriver Two Time F1 World Champ

    Apr 29, 2004
    27,114
    Austin TX
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    Brian Crall
    It is really dependent on how strong the market is for used 355 parts. Might need to ask a dismantler. It is hard to imagine you will be able to flip to one of them and make a profit.
     
  4. apex97

    apex97 Formula Junior
    Owner

    Nov 25, 2006
    590
    Stockbridge, GA
    Full Name:
    Edward Zabinski
    If you intend to part it out yourself you could do very well. the engine is worth $5,000 US and the gearbox about $4,000 US. Small parts like the seats, top, ECUs etc are all worth quite a lot if you are willing and able to market them, remove them, ship them etc...if you were to sell to a dismanlter who would do all of that then it might be tough to make it worth while. From your description, the car is probably worth $5-$7500 to a dismanlter, so if you can get the insurance company to let it go for less than that, it makes sense if you have a place to keep it.
     
  5. driveitdaily

    driveitdaily Formula 3

    Jul 20, 2013
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    lake ariel pennsylva
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    john
    #4 driveitdaily, Nov 10, 2014
    Last edited: Nov 10, 2014

    I've seen dismantlers pay 20k plus at salvage auctions for wrecked 348's and 355's . I bought my 348 at a salvage auction and trust me the insurance company selling it was not stupid ,they knew exactly what it was worth.


    " serenity now "
     
  6. Shootfighter65

    Shootfighter65 Formula 3

    May 13, 2014
    1,376
    Charleston SC
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    Randy..alluneedtokno
    A running 355 motor for $5000 ? That sounds cheap to me...I saw one on ebay awhile back for $10,000. maybe it wasnt worth that much I was really surprised to hear you say 5k though.
     
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  8. Redlyne_mr2

    Redlyne_mr2 Formula Junior

    Aug 5, 2009
    447
    Calgary, Alberta
    Full Name:
    Ryan D
    The cars are worth more parted out than buying a complete running one. If I had the time and space I'd go around buying ****ty 355s to part out. The demand on used parts is also huge! Ferrparts and exotic parts can't seem to keep up.
     
  9. cuneo

    cuneo Formula 3
    Silver Subscribed

    Nov 20, 2006
    2,372
    Damn, sorry your car was wrecked. I wish you the best of outcomes. If my car got totaled I'd be a blubbering mess for weeks.
     
  10. PAUL500

    PAUL500 Formula 3

    Jun 23, 2013
    2,264
    Marcus, have sent you a private message :)
     
  11. BOKE

    BOKE Beaks' Gun Rabbi
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    Jul 13, 2009
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  13. phrogs

    phrogs F1 Veteran
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    Apr 13, 2004
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    There is a 348 on Copart right now, It is up for auction but does have a buy it now of $30,000

    Just so you know where the insurance company's head is at on salvage value.

    FERR 348 TB
     
  14. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    20,340
    socal
    The problem with parting a car yourself is the first 1/3 sells fast. The next 1/3 sells very slowly. The last 1/3 you will have for decades while taking up more footprint than the parts are worth yet mental value so you keep them...Forever....
     
  15. Eric C

    Eric C F1 Veteran
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    Mar 20, 2009
    5,433
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    I parted a car once. Never again. The money is good, but running back and forth to the post office sucked.
     
  16. Enzojr

    Enzojr F1 World Champ

    Dec 12, 2013
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    Tomy
    Just going to the Post Office on a normal day sucks lol
    When I need patience and tolerance training, that's where I head ...... Or to DMV for serious patience training.
     
  17. yelcab

    yelcab F1 World Champ
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    Nov 29, 2001
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    I parted a Porsche 915 gearbox once. Anybody want a free differential?
     
  18. phrogs

    phrogs F1 Veteran
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    Apr 13, 2004
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    Very true!

    I have parted out about 4 Corvettes more like 4 and a half. One was a partial car.

    But I still have a bunch of small stuff that doesn't sell fast, over the years I have sold most of it. Some parts will never sell. Others will sell right away.

    If I parted anything else again in the future I wouldn't sell anything else until the Motor and transmission sell.
     
  19. 97 Spider

    97 Spider Formula 3
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    Dec 15, 2012
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    Brian
    That one has actual been sold by the insurance company for less and that is a second party trying to make money on it. They have had it on eBay for less then 28k. Funny I bought my 91 348 TB this summer for that money and it's a clean title, never been damaged car.
    That black front damaged spider just sold for under 20. These guys are crazy.
     
  20. phrogs

    phrogs F1 Veteran
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    They may be crazy but its the only one now for sale at the moment.
     
  21. 97 Spider

    97 Spider Formula 3
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    You can defanetly make more money parting it then th diffence the insurance company will offer. You just have to weight it against your time and decided if it is worth it. I'd offer you more then the insurance company and part it if you were in the US.
    I've probably dismantled 15-16 sports cars including one Ferrari 360 and always came out way ahead.
     
  22. 97 Spider

    97 Spider Formula 3
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    I just dont think anyone will jump on it when undamaged cars can be had near the same price. All the luck to them.
     
  23. Marcus 27

    Marcus 27 Karting

    Feb 3, 2004
    136
    Thanks for your input, everyone. Just to be clear, I'm not thinking of selling individual parts myself but I'm considering selling the car as a whole to a specialist dismantler.
     
  24. Redlyne_mr2

    Redlyne_mr2 Formula Junior

    Aug 5, 2009
    447
    Calgary, Alberta
    Full Name:
    Ryan D
    Have you received any quotes? Curious what they pay.
     
  25. sevminasyan

    sevminasyan Formula 3
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    Jun 24, 2008
    1,131
    Glendale, CA
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    Steve
    US market brings upwards of 15K at an auto auction. If you can get it for less, you will make couple of grand if you parted it out. You can a grand or two is you sold it to a salvage yard. Its a quick flip as long as the buyout price is right.


     
  26. Mani uk

    Mani uk Rookie

    Jan 6, 2015
    3
    Hiya, I'm a newbie just wanted to know whether your damaged 355 is still available?
     
  27. Mani uk

    Mani uk Rookie

    Jan 6, 2015
    3
    Hi is the 355 for sale, thanks
     

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