Why I Chose to spend new-car money on my old tech 308 GTBi

I've owned my car for the past 38 years and had run the odometer up to 79K. A decision had to be made: 1) buy a newer Ferrari or 2) give my faithful old girl a major refurbishing instead. I chose to keep my car because I saw no reason to leave the analog universe for new tech. Short story - Close to 3 years and $150K later my 308 is once again the beauty she was when new. I did not attempt to upscale the car, nor to make a concours contender out of her; I focused on a total long-block rebuild plus total suspension rebuild etc. I have enclosed a couple of photos of the end result...Yes, it cost me to stay as original as possible (factory parts are extremely expensive), but I figure the price of the car was $50,000 in 1980; so if you figure in cost-of-living increases over the years the car would now sell new in the $180,000-200,000 range. In closing, I have my new 308 GTBi for another 30-40 years of enjoyment (OK, I will be long gone, but someone will enjoy her).
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Yes, I had the upholsterer take measurements from my original and stitched the pattern into the new hides. He also replaced my headliner with Ferrari fabric in black (it was a factory option). The difference really sets off the interior.
It cost $4,500 for the seats and headliner. The paint was done by a master refinisher in 1987 ($10,500 at that time) and the 7 coats of hand-rubbed acrylic Nero still look new after 35 years (again, well worth the effort and expense).
The old girl really appreciates her refurbishing and is rewarding me with the best drives I've had. She is all stock.
Thank you for your kind words!!!
John

 

The engine-out long-block rebuild was close to $70K; the suspension was over $20K; the Ferrari factory parts (new or rebuilt) are unreal (15" shielded cable cost $709, radiator, $3,500 etc.); labor - area mechanic hourly rates are from $125-295/hr.; Michelin XWX 205/70 x 14 at $485 ea.etc. At that rate it doesn't take long. Do understand that I chose to go with the best in the area (i.e. within a 150 mile radius of home). I knew that to get a reliable analog, gated 5-speed, non power boosted car I would be limited as to fulfill my needs...I knew my car, and I was ready to do right by her...She is happy as I am traversing the windy roads in this area.
I happy that you like the results...I hope this explains my apparent lunacy.
John

 

Of the 12,143 model 308s manufactured between 1975 and 1982, very few are seen as of late, and many are not in the best condition. People took them for granted and many didn't have the spare cash for proper upkeep. Over my 38 years of ownership I found that model year 1980 only had 24 GTBi and 29 GTSi cars manufactured for US export - all other 1980 cars were Weber models (GTB/GTS) for Europe and elsewhere. Also, my car was the car used to explain the V.I.N. coding (see factory service bulletin SB-006) issued 03/07/80. It might prove to be worth the investment...Thanks for your interest!

 

Not quite...only the motor was given a long-block rebuilt (no gearbox as it was and is fine)...Removal and disassembly of the engine was labor intensive due to age and fusing of some parts several bolt removals etc were problematic; from there the engine was shipped to Napa, CA for machining, milling, new sleeves and pistons, etc, etc.; then back to MD for assembly and installation (time period was over a year due to waiting for the highly rated shop was able to start work). During the wait time I had the suspension rebuilt, the cooling system refurbished (new radiator and fans); the electrical system gone over to fix anything not right (swapped fuse boxes for a Birdman308 unit); AC rebuilt, original Alpine am/fm cassette radio rebuilt; new clutch pressure plate/throw-out bearing; factory rebuilt oil cooler and new braided hoses; all gauges and lamps were refurbished, new Michelin XWX 205/70 x 14 tires at $495 each. Ferrari parts were very hard to find and very expensive (a 15" braided fuel line was $709). I ended up with 37 pages of invoices. Was it worth it? Yes, because I got the car I wanted for less than a newer car...I would do it all again.

Your "Umm" indicates you wouldn't go this route, and I understand. My 308 has a history and value since it is only one of 24 fuel injected coupes made in 1980 (all other 1980 cars were Weber equipped), and it was the car used to decode the new V.I.N. (see factory bulletin SB-006 issued March, 7, 1980. In any event, I have a quality build car good for the next 40+ years.
Best Regards

 

Thank you for the kind words. I'm hoping to drive her a few more years before I can no longer get in or out of it (44" high).

 

I've got a bunch, but here are just a few such as engine removal, engine after disassembly, engine assembly at machine shop, ready to reinstall engine and tranny and my favorite mechanic, Mike at work. Were you looking for anything in particular?
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Thanks...I fell for the lines of the 308 coupes, and didn't want to give up on my old girl...Many nights were spent justifying the expenditure of doing a rotisserie (not needed) and a full refurbish of the car's engine, running gear, suspension, electrical system, cooling system etc. I justified spending over $150K by calculating the original $50Kpurchase price in1980 to what that price would equate to now...a new 308 built new today would cost over $175K...The car is better now than ever before and it is stock (no tricks add to improve performance). The car is fast enough, still looks great, has its Nardi steering wheel sans airbag, a gated shifter and analog gauges...so, I am a happy camper.

 

Thanks for the support, Brian. It must have been the right move as my wife never tried to stop me spending the money. I have run up enough break-in miles that I can now take the revs past 5K...Everything works as advertised. Probably the best investment was the Birdman308 fuse block as it provides the missing link to getting the power windows to work 2-3 times faster, the car to start on the first try, lighting is brighter etc...Enough said...Again, I appreciated your comments.
John