Appreciate views

[laeumh]

Hi all, I am a Porsche man but do really like the 80s/90s ferraris.
Can I ask what folks think of the following in terms of a) value at today's levels, and b) potential future values ;
http://www.theferraricentre.com/used-cars/616/ferr...

[geopetrolhead]

348 is a very unloved car, never driven one but I still quiet admire the front end although nowhere near as pretty as a 355, also performance not as good as 355, for that reason I would put another 10k to 15k on it and buy a 355, maybe a GTS manual if you can find one for that money?? Probably only find LHD at that money. I think GTS is the rarest model out of the GTB, GTS, Spider.

As for future values, your guess as good as mine??

Watch all the 348 drivers jump on this discussion now

[laeumh]

I really like'em, but hey ho beauty in the eye of the beholder and all that. I think all decent manual Ferraris have got to go up over 4 - 8 years, but look forward to other comments...

[TISPKJ]

My opinion for what it's worth, in recent years we have seen some crazy price rises in the special Porsches RS and the like, we have seen even crazier swings in Ferrari world, without starting world war 3 on here the 348 was never a particularly liked car, rightly or wrongly, when and if we get a correction in the market it won't be the 918 and La Ferrari boys that get burnt it will be the people that paid crazy money for 400i, 456, mondials, etc just because it has a Ferrari badge.
My worry would be that you couldn't give 348's away for £25k not that long ago.
Sure others will have the reverse opinion.

[red_slr]

You have to do what you want really, go with the car you like. I personally doubt values will go up as quickly as they have been doing and even if they do carry on at a reasonable rate the running costs are going to eat a lot of that profit.

I had 5 or 6 different cars within my budget from fairly new (ish!) to quite old.
I went with the car I really wanted and the only compromise I had to make was the F1 rather than manual and now I actually enjoy the F1 trans so win win!

[geopetrolhead]

red_slr said:

You have to do what you want really, go with the car you like. I personally doubt values will go up as quickly as they have been doing and even if they do carry on at a reasonable rate the running costs are going to eat a lot of that profit.

I had 5 or 6 different cars within my budget from fairly new (ish!) to quite old.
I went with the car I really wanted and the only compromise I had to make was the F1 rather than manual and now I actually enjoy the F1 trans so win win!

+1 for that comment, go with the car you like

If somebody offered me a well sorted 348 tomorrow for 30k I think I would have to buy it. But at the inflated prices about at the moment, no thanks

[superpippo]

IMO a manual F355 spider will appreciate a bit more, but on the other hand F355s will cost you (probably) more for maintenance.
However, a sorted one right now is very expensive.

How many years are you willing to wait for your car to appreciate ? One, three, five or ten years ? Are you looking also for a car to drive or just as an asset ?

If in doubt, get a 328. Nothing better than that.

[Behemoth]

People are always going to say the next model along is better. It's usually true technically, but this really doesn't matter when it comes to classic cars.

I've a huge soft spot for the 348 and had a little 1/18 Burago of one long before I bought my first Ferrari. It got bad press from Montezemolo only because he was making his mark. I think it's a great design with a very restrained & minimal interior which suits someone coming from a Porsche.

I think the overall styling will stand the test of time in a way the Mondial never will. I think it looks more elegant and striking than the 355. But then I also think a 400 is gorgeous (try looking and sitting in one in the flesh next time you get a chance).

A key reason I've never made a serious move on one is that mechanics I've known and used have never got on with them. It's a worry when people feel they're difficult to work on.

As far as values go, they will track all other Ferraris. If the styling vogue comes around to them in the way the Dino 246 got love a decade or so ago, then you'll win the lottery but that really is a long punt. Don't buy to invest, buy to enjoy.

Edited by Behemoth on Monday 5th September 23:29

[geopetrolhead]

Behemoth said:

People are always going to say the next model along is better. It's usually true technically, but this really doesn't matter when it comes to classic cars.

I've a huge soft spot for the 348 and had a little 1/18 Burago of one long before I bought my first Ferrari. It got bad press from Montezemolo only because he was making his mark. I think it's a great design with a very restrained & minimal interior which suits someone coming from a Porsche.

I think the overall styling will stand the test of time in a way the Mondial never will. I think it looks more elegant and striking than the 355. But then I also think a 400 is gorgeous (try looking and sitting in one in the flesh next time you get a chance).

A key reason I've never made a serious move on one is that mechanics I've known and used have never got on with them. It's a worry when people feel they're difficult to work on.

As far as values go, they will track all other Ferraris. If the styling vogue comes around to them in the way the Dino 246 got love a decade or so ago, then you'll win the lottery but that really is a long punt. Don't buy to invest, buy to enjoy.

Edited by Behemoth on Monday 5th September 23:29

I strongly disagree that it's lines are more elegant than the 355 but each to their own, and everyone is entitled to an opinion.

I don't mind the 348, it's design has definitely aged more than the 355 though, but I don't think it deserved the bad press it got.

In That period though Ferrari really did need to come up with something.

The Mondial and 400i I do not like, Just my opinion.

[geopetrolhead]

Testarossa I absolutely adore, they seem pretty good value at the moment,

I can't see them going down much again to the levels they got to before.

Lot of bad ones about though!

[sparta6]

Eighties Ferraris

348 is a good analogue car. No power steering and passive suspension so you feel connected to the road. Rear light design is not to everyone's taste but who cares about everyone - it's yourself you need to please

Mondial 3.2 is ultra reliable. Mondial T is one of the best balanced cars ever (mainly due to fuel tank positioning and T position 'box), and great for cross-continent runs.
Testarossa - an event and not for the shy.
400 / 412 - same era Bentley alternative, angles are now back in vogue.
308 / 328 - no explanation required. 328 has the edge if a D/D.

F40 / 288 GTO - lucky you !

That 348 is still below the original MRSP, most classics sail way past that price point. Jaguar E-Type anyone ?

Edited by sparta6 on Tuesday 6th September 12:11

[Uncle Ron]

sparta6 said:

most classics sail way past that price point. Jaguar E-Type anyone ?

Edited by sparta6 on Tuesday 6th September 12:11

I hope you're right on that point - my 95 SL500 for £5k has the original invoice with it for £94k - fingers crossed eh!?

[jtremlett]

laeumh said:

I really like'em, but hey ho beauty in the eye of the beholder and all that. I think all decent manual Ferraris have got to go up over 4 - 8 years, but look forward to other comments...

I really don't see why anyone should assume values will go up for pretty much any car. I have owned my 348 for more than 16 years. For all but the last couple of years values have been pretty much static. I've probably spent more on maintenance (with pretty much nothing going wrong) in that time than any possible gain in value. Not that I have the slightest intention of selling. I adore it still.

People paid silly money for Testarossas in the late eighties and values only in the last year or so got back to the same sort of levels and now seem to be softening again. Just because values have increased over the last two or three years don't assume that is the new norm forever more. Maybe it is, maybe it isn't. But only time will tell.

I think I know the car in the link. If so (and I'd have to check) it is an excellent example, well looked after.

Jonathan

[johnnyreggae]

laeumh said:

a) value at today's levels, and b) potential future values ;

If you want a 348 current price seem typical - as with any car be prepared to lose half the price paid and then anything else is a bonus

[sparta6]

Uncle Ron said:

I hope you're right on that point - my 95 SL500 for £5k has the original invoice with it for £94k - fingers crossed eh!?

Was about to buy an SL500 because I liked the roof mechanism. Went for the 308 instead. Both at same price point at the time

[MDL111]

TISPKJ said:

My opinion for what it's worth, in recent years we have seen some crazy price rises in the special Porsches RS and the like, we have seen even crazier swings in Ferrari world, without starting world war 3 on here the 348 was never a particularly liked car, rightly or wrongly, when and if we get a correction in the market it won't be the 918 and La Ferrari boys that get burnt it will be the people that paid crazy money for 400i, 456, mondials, etc just because it has a Ferrari badge.
My worry would be that you couldn't give 348's away for £25k not that long ago.
Sure others will have the reverse opinion.

I sold a RHD 355 for 27k in (I think) 2011 and I believe 348 were quite a bit lower at the time - prices have been a lot lower in the past, and therefore I do not think it is completely unrealistic that a car like this could shed half its value (if it is likely is a different matter - probably about as likely as it doubling in value again).

[red_slr]

MDL111 said:

I sold a RHD 355 for 27k in (I think) 2011 and I believe 348 were quite a bit lower at the time - prices have been a lot lower in the past, and therefore I do not think it is completely unrealistic that a car like this could shed half its value (if it is likely is a different matter - probably about as likely as it doubling in value again).

I cant remember if it was 2009 or 2010 but I was looking with £35k budget and decided to get a 997 instead. There were loads of 355s, 550s etc around that money then but servicing costs put me off and I went with the 997. Still did ok out of that managed to get a good deal on one and did not lose anything to write home about over 2-3 years.

[sparta6]

TISPKJ said:

My opinion for what it's worth, in recent years we have seen some crazy price rises in the special Porsches RS and the like, we have seen even crazier swings in Ferrari world, without starting world war 3 on here the 348 was never a particularly liked car, rightly or wrongly, when and if we get a correction in the market it won't be the 918 and La Ferrari boys that get burnt it will be the people that paid crazy money for 400i, 456, mondials, etc just because it has a Ferrari badge.
My worry would be that you couldn't give 348's away for £25k not that long ago.
Sure others will have the reverse opinion.

Have you noticed women spending £1K + on a pair of shoes, all because it has a Jimmy Choo badge that's out of sight

[TISPKJ]

MDL111 said:

TISPKJ said:

My opinion for what it's worth, in recent years we have seen some crazy price rises in the special Porsches RS and the like, we have seen even crazier swings in Ferrari world, without starting world war 3 on here the 348 was never a particularly liked car, rightly or wrongly, when and if we get a correction in the market it won't be the 918 and La Ferrari boys that get burnt it will be the people that paid crazy money for 400i, 456, mondials, etc just because it has a Ferrari badge.
My worry would be that you couldn't give 348's away for £25k not that long ago.
Sure others will have the reverse opinion.

I sold a RHD 355 for 27k in (I think) 2011 and I believe 348 were quite a bit lower at the time - prices have been a lot lower in the past, and therefore I do not think it is completely unrealistic that a car like this could shed half its value (if it is likely is a different matter - probably about as likely as it doubling in value again).

yes that would be about right, just looking at old records etc, I paid 30k for my 97R 355 in august 11, and 40k for my 03 360 in oct 12

[Behemoth]

sparta6 said:

Have you noticed women spending £1K + on a pair of shoes, all because it has a Jimmy Choo badge that's out of sight

I know little about the shoe trade, but obsession with Jimmy Choo, Louboutin etc is definitely about styling and rarity as much as the badge.

Same with Ferrari. They have the upper hand by quite some margin when it comes to consistent automotive styling excellence. Plus, it's broadly a 1:10 ratio when production output is compared to Porsche numbers.

Sure, it's a badge. But the brand's primacy has much deeper foundations.