Whats up with this Red 355GTS

I have inquired about the car, I sent them info on my Lotus for trade, and they never got back. Here is my take: mechanically, the car should be good (but I would still want a PPI). The body is rough. There are several chips and some buttress cracks. The car is at the precipitous 30k mark. I think it would make a great driver car, but in my opinion, it will be a hard one to sell down the road with mileage. The body work will make it seem rough, even if everything else is nice.

I have already had the experience of selling a Ferrari at 30k miles. I would buy one for certain, but I will expect to pay accordingly, which is going to be significantly less than a lower mileage car. Doesn't matter about condition, it is just the reality of the market.

 

I looked at the car too (not in person). I agree that it's a driver. I think $65K-ish is still too rich. The right buyer might give that for it, but it's not bargain IMO. Salmon's right on the miles. 30K is no problem per se, but it's a $5K ding in resale when you hit it. So this last 80 miles is going to be EXPENSIVE.

 

Wow. A 95 GTS. These don't show up very often...

 

Did they just do the belts and valve guides, water pump, clutch, CVs to the tine of $20k, or was that in 2004? Not a queen, but the other (stated) finish problems are pretty common... Most 355s will be problems where the top goes into the fender, and rock chips will happen.

Does the rear grill look weird to anyone else? Doesn't look like a Challenge grill to me...

 

Keep in mind that 65k is the starting bid, not the asking price. A fully serviced GTS like this one will go for a bit more than that I suspect. And no, the challenge grill looks fine...

-R

 

I've seen the car in person. I was told that they just did the belts, guides, water pump, clutch, CV's, etc. When I saw the car, they were about finished putting it back together.

 

Looks like the auction was set with no reserve, and an opening bid of $65,850. No takers, and the auction ended this morning.

 

I seriously considered the car, but I do think it takes a pretty major hickey on resale when it hits 30K. Doesn't mean it's any less of a car, just a business decision really.

 

Gentlemen, Mechanically this car is great! It was traded to me by my friend; I knew, and drove, the car long before he traded it. It was due for the major and sounded like guides too. So we did the major, and a complete valve job (valves, guides, & seals with head cleaning and resurfacing), complete clutch (Hill Engineering Throw-out and Flange), water pump rebuild, all half shaft boots, replacement of both fuel filters and repainting of valve covers with correct wrinkle paint. Once we got her back together, we found that the notorius electrofan on the drivers side had done the blade seperation from the motor, so we replaced the complete assembly. The guides were bad, the boots had the inferior rubber material, and the clutch was due, not neglect, we just do it by the book here. EVERY part was inspected for assembly, the manifolds have NO cracks. With exception of the Hill Engineering pieces (from Ricambi, of course) every part was from Ferrari, correct fluids, even Mercedes coolant formulated for aluminum engines was used ($14/gal). Over 80 hours spent and I have complete photo documentation of the service, as many of you know there other sellers of Italian cars in my city, but we have the ONLY Ferrari/Lamborghini trained tech (in fact a few of them bring their cars to us!).
As for the cosmetics, this car is NOT rough, it has 2 door dings in the front fender, drivers seat will be redyed for buyer, and ALL GTS's develop the stress crack at the C pillars! It is a driver, but that is why Enzo built cars. It is priced very aggressive- consider model availability, year, condition, and SERVICE. I have responded to all of you, trades are difficult for me, I am a small independent dealer with my cash tied up in this car (lower price=quicker sell). If the weekend is nice, my passion will lead me to take the odo over 30k, then some of you can make your business decision.

 

Adam, I will say this: My dealings and others' dealings with you have been very positive. I think the Ferrari market is soft right now or that car would have been long gone.

 

As for the pricing, it was originally put up for sale before we undertook the service ($66k) then I raised the price when the service was complete and ending up costing me more ($69k) and then I put it on Ebay 2x to generate some action, last time at $65,750 with no reserve. I think a heck of a buy, IMHO. It is not missing parts or panels, no crazy audio system, and has a clean vehicle history. This is a 355, and a rare GTS at that. I can look at trades (remember wholesale $), and I will listen to serious offers, Our bread and butter for selling is BMW/Porsche/Mercedes actually service more Italians than we sell. This car runs better than when new, I even had my friend, the previous owner, come over and drive it-he said runs better than it ever had in his 5 years of ownership, and he did the first belt service.

 

Thanks Husker, I enjoyed our dealings also, I agree the market is adjusting. I wish I was in a better position, cause your 348 is georgeous! Just try to give full disclosure and be up front with people.

 

I am in the process of working a deal on a 355 and if it falls through I will give you a call.

 

www.theimportspecialists.com
Let me know and I can email plenty of pics too.

 

[email protected]. thanks.

 

Something to keep in mind...according to the F355 Registry list....only 1 F355GTS was imported to the US as a 1994, and only 34 in 1995 (and not all were red). These are RARE cars, the most desireable of the F355 body styles, and the '95 has the added benefit of OBD I, and twin air intakes producing slightly more HP than the rest of the models. Personally, I think it is the last of the "old school" and prettiest of the mid-engine Ferrari's. They were desireable then, and remain desireable now. $65K is a BARGAIN. I paid $125K for mine in 2001 and still think it was worth every penny.

MK

 

Shhhhhh....Dont tell Adam this