Value? Wrecked 348 Spider

I don't think I would spend more than the starting bid of $30k. It might even be a stretch at that price. Assuming $20-25k in repairs, you would be in it for $50-55k and have a salvage title. I don't think I would assume repair costs less than $20k. If it turns out to be $10k in repairs that would be a good deal, but the car might not drive correctly if the frame is bent.

BT

 

Whenever I see one of those, I remind myself that someone who knows much more than I already had the chance to buy it and passed. Probably a dozen people by the time it passed from a shop somewhere to the insurance company, then on to the salvaged vehicle place.

 

In reality, unless it is to be used for parts, it is worth no more than 10K.

Consider that a very nice 95 355 with a salvage title was recently for sale/sold for $45K, a 348 would have to be less. With who knows how much in repairs, the owner of the car might even need to be paying someone to take it!

To put the cost of repairs into perspective, the small amount of damage to my Mondy has cost the insurance compay 19K SO FAR. see the damage here... http://www.ferrarichat.com/forum/showpost.php?p=135745670&postcount=1

Just my .02, Dave

 

Exactly.

 

Wow! I would not imagine that would be over about $5k in damage. I am waaayyyy off on my guess. Hope your mondial gets back to driving / show condition soon.
BT

 

Might make for a cool styling excersize. Rather than part it out, create something different out of it.

I think Tom S. has a spare devin body .

Regards,

Art S.

 

Oh, yes, aren't those mondial grilles about 2K each? It all adds up really fast.

 

Starting bid should have been 15k....they are already way to high on the price for the amount of money it will take to repair and in the end you still have a salvage title.

 

I agree 100%, $15K to $20K would be a decent price for anyone wanting to have a Ferrari project and doesn't mind the "salvaged" title to go with it. Anything over that is absolutely ridiculous.

Stephane
Scaledetails

 

...try to save a dollar and you'll end-up spending 3.
don't bother (my .02)

 

What is that car worth with a salvage title, after it has been repaired? I would think at $50,000 it would be a pretty hard sale. That being said, I think there's AT LEAST 15-20K in repairs, if no suprises pop up, which is unlikely. So you'd be doing all the work and dealing with all that hassle for basically nothing.

Also, it looks like there was a bit more damage, and the current owner reshaped the outer sheet metal to hide what could possibly be frame damage.

 

many craze things happen when cars are totalled. my testarossa was totaled three years ago in a fire and the salvidge value was 500$ of course I bought it and sold it on ebay for 12K and the man that bought it pieced it out for 20k alot of cars go pretty cheap from insurance lots and the first one there makes all the money. he might be selling it for 30k but paid only 18k who knows?

 

That's exactly where the money is. The insurance company wrote it off for a reason! Because parts are so expensive for Ferraris, repairs are rarely economical. Because parts are so expensive for Ferraris, parting out a wrecked one makes a lot of sense.

I'd suggest they bought this car for way too much thinking they could fix it for 2-3K (like most "normnal" cars) and then found themselves upside down, so they are bailing before they lose anymore. Some other sucker will buy it with the same dreams. Unless one can get cheap parts and do all that bodywork ones self, AND you want to keep the car forever, there is no money in fixing it.

Been there, done that - being the sucker that is.

 

I doubt this is the case. Check out the seller's other auctions. He's got some 355 parts, so clearly he knows the value of ferrari parts. Futhermore, it appears he deals with salvage vehicles (including a Ferrari 360), so he's most likely in this to make a profit.

 

Ya think?

 

I do, but apperantly not everyone does, so I was just trying to justify my case.