348 value question
Discussion
Hi all.
i have been offered a 348TB as a part exchange on a porsche that i am selling. my question is about the value of the car.
The good; It is well maintained and has had £7500 of engine and gearbox work done recently. Red with cream leather.
The bad; 80,000 miles, described as stone chipped and could do with paint.
It would be my first Ferrari after decades of air cooled porsches. I have my eyes open and think that i understand what i am doing, i will get a pre purchase inspection done, but i just cant decide on the value of the car if all of the rest stacks up? I have not seen the car yet, but want to see if there is a deal before proceeding with travelling and paying for an inspection.
I have looked and can't seem to find any up to date info.
Please go gently
i have been offered a 348TB as a part exchange on a porsche that i am selling. my question is about the value of the car.
The good; It is well maintained and has had £7500 of engine and gearbox work done recently. Red with cream leather.
The bad; 80,000 miles, described as stone chipped and could do with paint.
It would be my first Ferrari after decades of air cooled porsches. I have my eyes open and think that i understand what i am doing, i will get a pre purchase inspection done, but i just cant decide on the value of the car if all of the rest stacks up? I have not seen the car yet, but want to see if there is a deal before proceeding with travelling and paying for an inspection.
I have looked and can't seem to find any up to date info.
Please go gently
What is your gut feeling for a value to you based on the classified here ? Has the swopper suggested a figure ? My instinct is there is not a lot in it - maybe a few grand - not ten
Don't forget we don't know if your current car is over-valued in the ad or how keen you are to sell and so how negotiable that price would be
Don't forget we don't know if your current car is over-valued in the ad or how keen you are to sell and so how negotiable that price would be
Edited by johnnyreggae on Wednesday 27th August 09:26
Thanks for your replies. I am waiting for full details on the 348. looking in the normal places £32,000 seems to get a much lower mileage 348 with good paint and history. So if you knock £5k for mileage and £3k for paint... to be honest i will wait and see what the other party suggests. If i sold the 993 i would probably go for a 997 turbo, (faster, strong and with modern comforts) and wouldn't consider a 348, but i would like to have the Ferrari experience so if it is a good deal i may do it.
i was unsure of how significant the 80,000 miles is to the price? i recently sold a 964 3.6 turbo with higher than normal mileage and it dropped the value by quite a lot. i have always understood that ferraris are super sensitive to mileage with respect to value?
i was unsure of how significant the 80,000 miles is to the price? i recently sold a 964 3.6 turbo with higher than normal mileage and it dropped the value by quite a lot. i have always understood that ferraris are super sensitive to mileage with respect to value?
Behemoth said:
They are, but for no good reason. It's a silly Ferrari thing. So buy cheap & enjoy driving it 
They are. And they are then difficult to shift at the wrong price. FWIW it sounds like a £20k car. Absolutely essential you have someone who knows these cars give it a good going over. I assume it has a thick pile of receipts too?Behemoth said:
They are, but for no good reason. It's a silly Ferrari thing. So buy cheap & enjoy driving it
This^^ to a greater or lesser extent. I think 348/355/360s are in engine and gearbox terms mechanically rather more sensitive to mileage than say a 993 from the high miler cars I've heard of, but not as much as price differences between low and high mile cars would suggest. If it were me, I'd be getting a compression test on the 348 and paying particular attention to its gearbox as I understand that the latter is the main potential weak point on the car. As ever, the issue is that you need to ensure that whatever "value" you assign to the 348 is commensurate with what it will be worth once you've had it for a bit and busted through the 100k mile mark, which in market psychology terms is probably like selling a 200k mile 993. Also bear in mind that dealer bids on a 100k mile 348/355 will be laughable, as in probably £10k for the former and £15k for the latter.If it were me, I'd also be looking for a stack of receipts for recent work on the car showing common 348 failures that have been resolved. I can't give specifics on the 348 because I've not owned one, but if it was say a 355 with which I do have experience, I'd be looking for/checking (asterisked items are not actually on a 348, but just as examples):
recent major engine out service
manifold replacements with non-Ferrari items
recent clutch
recent new leads
recent water pump replacement
recent recored rads
engine mounts
evidence of suspension work/refresh/alignment
starter motor refurb/replace
calliper refurb
exhaust bypass valve replacement***
recent MAF
refurbed/replaced adjustable shocks***
driveshaft gators
Nice to haves would be things like:
recent tyres/brakes
Tubi/Capristo exhaust
HID light kit fitted
re-trimmed rather than re-connolised cabin items
bumper respray
recent coil packs
Like I said, some of those are not necessarily applicable to 348s, but you get the idea. Obviously you're never (or unlikely) to find a car that has everything on the list, but the more of it you can tick off, the better position you're likely to be in terms of ongoing costs. The top set of items alone for a 355 is probably £12k+ from an Indy.
Edited by Mario149 on Wednesday 27th August 13:34
Edited by Mario149 on Wednesday 27th August 13:35
Sadly, they are indeed very mileage sensitive, and completely without reason. Some of the highest mileage cars I've encountered over the years have also been the ones that have had a far higher degree of maintenance when compared to the low mileage garage queens. I saw one change hands with just over 60k on it for 22 recently. It was in great condition with a thick pile of invoices. as mentioned, get an inspection if you go ahead with the deal. The engines are sturdier than the 355 but as marios has correctly pointed out, they can suffer with gearbox woes. There are also several points on the body and some on the subframe that suffer corrosion.
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