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What's this F355 worth--Ebay?

Discussion in '348/355' started by Tomf-1, Feb 8, 2004.

  1. Tomf-1

    Tomf-1 F1 Rookie
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    Jan 17, 2004
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  2. lapeter

    lapeter Formula Junior

    Jun 13, 2002
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    SunValley ID&Kapalua
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    Al LaPeter
    $45,000 to $50,000 depending on service history and PPI
     
  3. Crawford

    Crawford Formula 3

    Mar 5, 2003
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    It's kind of amazing to think that this 355 is in the same price range as a low mileage late model 328. Seems like a bargain.

    I'm guessing it's probably at least due for a major service, so allot $5-10,000ish??
     
  4. Robin

    Robin F1 Rookie

    Nov 1, 2003
    2,893
    Arlington, VA
    Heck that's not bad.... I'd skip the auction and just call them up with an offer of 50k assuming a PPI checks out. I agree though, be prepared to spend probably close to 10k on service. 30k, clutch, etc etc... still a bargain though.

    -R
     
  5. Tomf-1

    Tomf-1 F1 Rookie
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    Thanks Gents--

    Martin and others on another post indicated a 99 F1 355B with 45K worth around $50K to $65K. This car is a 95 w/ alot more miles and in need of major service; hence, I was interested to see how you price it.
     
  6. sherpa23

    sherpa23 F1 Veteran
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    May 28, 2003
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    First: I would not be afreaid of the miles PROVIDED THAT THE CAR HAS BEEN MAINTAINED PROPERLY. If everything checks out, all the service records are there and everything is as represented, this would be a great car to own and drive. I personally prefer to own an F car that has about 2500 miles a year on it.

    I think that $40k would be a great price, $50k is okay.

    The big issue should be the maintenance already. Also know that the maintenance that you will put into ANY 355 is going to be somewhat expensive and in the end, a well maintained 355 with these miles may will never be worth what a low mileage car is worth. Therefore, the money that you put into service will be proportionally higher to the value of this car than with a 355 with 15k miles. What does that mean? To really get the most value out of this car, you need to drive it. So this one is going to be a driver.
     
  7. goyal99

    goyal99 Karting

    Mar 5, 2002
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    V K
    I bet this car will be pulled before the auction ends....The low reserve price is a bait to draw people in the showroom....This car looks way too nice (in the photos) to let go for under $50K, especially at a dealership....Even with high mileage...The reserve is too low for an F355.

    Unless there a major problem with this car not disclosed in the description...$60K is more like a fair price.

    VK
     
  8. Robin

    Robin F1 Rookie

    Nov 1, 2003
    2,893
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    Hm... reserve met at $47,900.... still a day to go too. Not bad. Didn't notice before, but it looks like the service is up to date up through 60k, so it just needs the 75k, maybe a new clutch, water pump, etc.. Could be a great deal. If only it wasn't red.........

    -R
     
  9. gabriel

    gabriel Formula 3

    That looks like a beautiful car for under 50k. Can't believe the price!
     
  10. Crawford

    Crawford Formula 3

    Mar 5, 2003
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    I think the car Martin had a while back for $45-50K had over 100k miles on it...
     
  11. Chiaro_Slag

    Chiaro_Slag F1 Veteran

    Oct 31, 2003
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    Looks OK - The interior is a little beat & the sticker on the back I'm not a fan of. Make sure to get a good PPI done - Don't skimp there!

    I thought F355 meant it had the F1 shifter - Am I wrong on that?
     
  12. jakermc

    jakermc Formula 3
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    Jan 17, 2004
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    All 355s from 1995-1997 were called 'F355'. This is in the tradition of the F40 and F50. Begining in 1998, F1 equipped cars were called '355 F1' while the manual transimissions continued to be called 'F355'
     
  13. Tomf-1

    Tomf-1 F1 Rookie
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    Last night, I offered Alex (dealer/owner) $49000 firm and he countered at $52000.....

    I figured to factor in an additional $8000 to $10000 for updated maintenance and misc. cosmetic costs, it will be around $60000. For another $10000 or $15000, I could get a service 97 or 98 with much less milage..... So I passed on it.

    It might still be a good deal for someone else....In the meantime, I will have to confine my contentment to my 512TR.
     
  14. Jimmy540i

    Jimmy540i Formula 3
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  15. Chiaro_Slag

    Chiaro_Slag F1 Veteran

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    Cool, thanks for the info!
     
  16. rossofiorano355

    rossofiorano355 Karting

    Dec 22, 2003
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    You still have that Dinan 540 from Euro Car?
     
  17. Tomf-1

    Tomf-1 F1 Rookie
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    Reserve on this car actually was met at $45,500.....
     
  18. Jimmy540i

    Jimmy540i Formula 3
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    Yes!
     
  19. speeder37

    speeder37 Karting

    Nov 18, 2003
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    If one were to put $60k into this car with service, they would quickly be upside down. I agree with $40k being the right price. Has anyone priced 355 shocks, bushings and interior parts? If the dealer gave $40k, I would be very surprised.
     
  20. sagaponack

    sagaponack Formula Junior

    Nov 2, 2003
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    I am sorry and I do not want to get into the years old FC debate of high mileage versus low mileage cars.

    Since most Ferraris are owners' third or fourth cars, there are plenty of low milage Ferraris out there. As such, high mileage Ferraris take a hit. A big one.

    And frankly, given the weak structural integrity of late model ferraris, at best you would be buying a rattle box. And a rattle box that will probably cost you $15k in service over the next year or two.

    I would rather see someone in a 348 spider with 15k miles for the same price.



    www.bridgehamptonmotoringclub.com
     
  21. ghost

    ghost F1 Veteran
    Lifetime Rossa

    Dec 10, 2003
    9,836
    Singapore
    Lots of the comments are on the money here, but some are off the mark. I was one of the first to speak to Alex (the owner) about the car, and quite frankly, almost hopped on a plane to check it out. I also spoke with the head technician at Scottsdale Ferrari, where this car has been serviced it's whole life. Couple of pointers from our conversation, for the benefit of those that are seriously looking (I am no longer):

    1. The auction is real, and will not be pulled (at least it was when I spoke with Alex).

    2. Prior to the auction reaching it's current levels, Alex was ready to let this go at $47K with a PPI. Given where the number's are now, he's obviously jacked his "end the auction early" price. Just FYI, his buy-in is at $40K, so negotiate according (you didn't hear this from me).

    3. The car has been well-maintained, with all the majors done on time, and is in good shape from that perspective.

    4. However, it is clearly due for a $75K, factor in the usual $8K - $10 for a major.

    5. Additionally, and equally importantly, the high mileage means that the car may need to have even the usual wear-and-tear items start to get replaced.

    6. The technician at Scottsdale Ferrari was away from the dealership when I spoke with him, so we couldn't talk specifics, but he knew the car well, and seemed like a straight shooter. He indicated that if you add in the cost for points (4) and (5) above, you are probably talking about $15 - $20K in dollars spent. To be very clear, this was not what he insisted the car needed -- it was just his (blind) estimate of what it would cost to get the car into "perfect" shape, which is what I asked him about. If you're willing to live with the seats the way they are, etc., etc., and just want to get the major done, my sense is that the cost will probably be in a more normalized range of $8 - $10K.

    Bottom Line: this seems like a great car for somebody that wants to buy a Ferrari at a good price, and keep it for life (or a really long time). You're gonna get a good "buy-in" price, but you'll pay for the up-front maintenance required. I passed, because I knew that I wasn't going to keep my for life, and therefore didn't want to be faced with the "high mileage" stigma on exit.

    Hope these thoughts help, and wishing those bidding good luck!!
     
  22. Tomf-1

    Tomf-1 F1 Rookie
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    Vic- You are right on. I talked to Alex as well and it seemed as though his expectation now is to get the car sold in the low 50k (I offered him 49K and he passed). I couldn't agree more that by the time you add on 10K to 15K on top of this, you'd be better off with a newer F355 with less milage and perhaps all services updated. This was the reason I stopped pursuing it. Besides, it seems like there are at least a handful of F355 that got listed on Ebay over the last 72 hours....
     
  23. jakermc

    jakermc Formula 3
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    Why is the 75K service so expensive? The belts should have been done at 60K, isn't the 75K service nothing more than a bunch of fluid changes and 'inspections'? I don't have the manual in front of me, but what else is supposed to be a part of this service?
     
  24. Gary(SF)

    Gary(SF) F1 Rookie

    Oct 13, 2003
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    That's what I love about this board, you hear all kinds of opinions and experiences. This is the first time I have heard of "weak structural integrity" in late model Ferraris.

    Gary
     
  25. andrew911

    andrew911 F1 Rookie
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    Sep 8, 2003
    2,867
    Northern NJ
    I find this thread to be an excellent read for a non-ferrari owner like me- very informative.

    Gary, I think the structural problems comment was on the early (or maybe all) 355 Berlinetta's- people say cracking in the body behind the c-pillars...I've read that elsewhere on this site, but to me the Ferrari build quality seems to be improving, not getting worse...just my 2 cents...
     

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