Ferrari 348 Values
Discussion
Like most people I follow the price of many Ferrari models closely.
Although it can divide opinion I'm a big fan of the 348 so it's been interesting watching developments. Many would agree it isn't one of the more desirable Ferrari's out there in relative terms but the prices are all over the place.
2/3 years ago a LHD TS with around 35k would have been around £25,000 and now prices seem to start mid to late 40's head up to in some cases later 60's. I've seen several of these cars advertised for well over a year and one which the price kept going up 5k every 3/4 months but has been for sale for around 3 years.
I know what people are asking but what are the true values, what are people actually paying for these cars?
Any examples of recent sale prices anyone can advise?
Although it can divide opinion I'm a big fan of the 348 so it's been interesting watching developments. Many would agree it isn't one of the more desirable Ferrari's out there in relative terms but the prices are all over the place.
2/3 years ago a LHD TS with around 35k would have been around £25,000 and now prices seem to start mid to late 40's head up to in some cases later 60's. I've seen several of these cars advertised for well over a year and one which the price kept going up 5k every 3/4 months but has been for sale for around 3 years.
I know what people are asking but what are the true values, what are people actually paying for these cars?
Any examples of recent sale prices anyone can advise?
I've previously owned one (a few years ago, when a very good one cost me £28k from a specialist dealer). That same dealer currently has a 348 spider up for over £70k - and he definitely knows his stuff (and is the most genuine dealer I've ever dealt with by a country mile).
I know he sold a (quite modified) black one recently, although I don't know what it sold for. However, I think the price of 348s definitely has gone up even if they don't sell quickly - and from the CS forum, the 348 owners most definitely think they're worth that. I am pretty sure you would not get a half decent one for under £45k and you might have to pay somewhere in the 50s or 60s for a really good one (or 70s for the top top ones it seems).
I liked mine - but I didn't like it that much. I've said before on other forums - 348 is a great introduction to Ferrari ownership, but £50k+ gives you a LOT of car choice and I'm not sure a 348 would be on my list for that money.
I know he sold a (quite modified) black one recently, although I don't know what it sold for. However, I think the price of 348s definitely has gone up even if they don't sell quickly - and from the CS forum, the 348 owners most definitely think they're worth that. I am pretty sure you would not get a half decent one for under £45k and you might have to pay somewhere in the 50s or 60s for a really good one (or 70s for the top top ones it seems).
I liked mine - but I didn't like it that much. I've said before on other forums - 348 is a great introduction to Ferrari ownership, but £50k+ gives you a LOT of car choice and I'm not sure a 348 would be on my list for that money.
348 prices are currently all over the place, with cars priced up from @ £43K~£70K for TB/TS models, and up to @ £100K for spiders.
The reality is, the prices of 348's peaked about a year and a half ago, especially for the TB/TS cars, and then last year the market value levelled out, and very few cars actually sold.
So far this year, some dealers have had to lower the price on their 348's in order to find buyers, whilst others have left their prices high, hoping to find a buyer (and not succeeding).
In general, LHD's simply do not sell. When the Ferrari market started to take off @ 3 years ago, several "sports car specialist" dealers raided the continent for cheap LHD 348's, hoping to make a killing in the UK. They were buying cars for @ £20K abroad, and then trying to sell them for @ £55K over here. Most of those cars are still for sale! (even though the dealers have lowered the prices down to @ the £44K mark).
RHD TB/TS' that are "sensibly" priced right now (£45K~£55K), are starting to sell again, but those priced @ £60K+ are going to be sat around collecting dust for a while yet as I see things.
As it stands, no one can really predict where the 348 market is heading. There were predictions that the market would follow 2015 and continue to climb throughout 2016, but it didn't, it barely stayed static.
Some people are thinking that the 348 market will climb again this year, but so far, there is little sign of it happening. In fact, so far the market has slipped back a bit, and it might just continue - Only time will tell.
The reality is, the prices of 348's peaked about a year and a half ago, especially for the TB/TS cars, and then last year the market value levelled out, and very few cars actually sold.
So far this year, some dealers have had to lower the price on their 348's in order to find buyers, whilst others have left their prices high, hoping to find a buyer (and not succeeding).
In general, LHD's simply do not sell. When the Ferrari market started to take off @ 3 years ago, several "sports car specialist" dealers raided the continent for cheap LHD 348's, hoping to make a killing in the UK. They were buying cars for @ £20K abroad, and then trying to sell them for @ £55K over here. Most of those cars are still for sale! (even though the dealers have lowered the prices down to @ the £44K mark).
RHD TB/TS' that are "sensibly" priced right now (£45K~£55K), are starting to sell again, but those priced @ £60K+ are going to be sat around collecting dust for a while yet as I see things.
As it stands, no one can really predict where the 348 market is heading. There were predictions that the market would follow 2015 and continue to climb throughout 2016, but it didn't, it barely stayed static.
Some people are thinking that the 348 market will climb again this year, but so far, there is little sign of it happening. In fact, so far the market has slipped back a bit, and it might just continue - Only time will tell.
4rephill said:
348 prices are currently all over the place, with cars priced up from @ £43K~£70K for TB/TS models, and up to @ £100K for spiders.
The reality is, the prices of 348's peaked about a year and a half ago, especially for the TB/TS cars, and then last year the market value levelled out, and very few cars actually sold.
So far this year, some dealers have had to lower the price on their 348's in order to find buyers, whilst others have left their prices high, hoping to find a buyer (and not succeeding).
In general, LHD's simply do not sell. When the Ferrari market started to take off @ 3 years ago, several "sports car specialist" dealers raided the continent for cheap LHD 348's, hoping to make a killing in the UK. They were buying cars for @ £20K abroad, and then trying to sell them for @ £55K over here. Most of those cars are still for sale! (even though the dealers have lowered the prices down to @ the £44K mark).
RHD TB/TS' that are "sensibly" priced right now (£45K~£55K), are starting to sell again, but those priced @ £60K+ are going to be sat around collecting dust for a while yet as I see things.
As it stands, no one can really predict where the 348 market is heading. There were predictions that the market would follow 2015 and continue to climb throughout 2016, but it didn't, it barely stayed static.
Some people are thinking that the 348 market will climb again this year, but so far, there is little sign of it happening. In fact, so far the market has slipped back a bit, and it might just continue - Only time will tell.
At least someone is talking some sense. Other than delivery mileage collectables, I think the market peaked about 18 months ago. A realignment is in progress IMOThe reality is, the prices of 348's peaked about a year and a half ago, especially for the TB/TS cars, and then last year the market value levelled out, and very few cars actually sold.
So far this year, some dealers have had to lower the price on their 348's in order to find buyers, whilst others have left their prices high, hoping to find a buyer (and not succeeding).
In general, LHD's simply do not sell. When the Ferrari market started to take off @ 3 years ago, several "sports car specialist" dealers raided the continent for cheap LHD 348's, hoping to make a killing in the UK. They were buying cars for @ £20K abroad, and then trying to sell them for @ £55K over here. Most of those cars are still for sale! (even though the dealers have lowered the prices down to @ the £44K mark).
RHD TB/TS' that are "sensibly" priced right now (£45K~£55K), are starting to sell again, but those priced @ £60K+ are going to be sat around collecting dust for a while yet as I see things.
As it stands, no one can really predict where the 348 market is heading. There were predictions that the market would follow 2015 and continue to climb throughout 2016, but it didn't, it barely stayed static.
Some people are thinking that the 348 market will climb again this year, but so far, there is little sign of it happening. In fact, so far the market has slipped back a bit, and it might just continue - Only time will tell.
I can help a little here as sold mine in September.
Was a 48k example, RHD 7 owners and owned by me since 2009 but had full service history with 23 main dealer stamps... albeit cam belt service due. Was going to sell end of 2015 and was offered £45k in the trade and looking on the adverts Ferrari Centre had a couple at £60k that looked similar, and other dealers had some at £65k.
When I did sell (again in the trade) last September highest bid I got was £40k. Dealer I believe then sold it for approx. £55k (quite quickly as well). So technically the car had dropped approx. 10% in 2016.
In the same time I've watched cars slowly get reduced and using the Ferrari Centre as an example they had reduced their car over the year to £49995 before it went. So this is approx. 17% drop
I was going to keep it, but fancied a change and didn't buy the car initially as an investment. It was just pure luck that the price doubled from what I paid initially. Was a great car to own and did 10,000 enjoyable miles however I'd just buy it to enjoy it. If market goes up all well and good but if not you've still had a Ferrari to enjoy
Was a 48k example, RHD 7 owners and owned by me since 2009 but had full service history with 23 main dealer stamps... albeit cam belt service due. Was going to sell end of 2015 and was offered £45k in the trade and looking on the adverts Ferrari Centre had a couple at £60k that looked similar, and other dealers had some at £65k.
When I did sell (again in the trade) last September highest bid I got was £40k. Dealer I believe then sold it for approx. £55k (quite quickly as well). So technically the car had dropped approx. 10% in 2016.
In the same time I've watched cars slowly get reduced and using the Ferrari Centre as an example they had reduced their car over the year to £49995 before it went. So this is approx. 17% drop
I was going to keep it, but fancied a change and didn't buy the car initially as an investment. It was just pure luck that the price doubled from what I paid initially. Was a great car to own and did 10,000 enjoyable miles however I'd just buy it to enjoy it. If market goes up all well and good but if not you've still had a Ferrari to enjoy
Evoluto said:
Does anyone know the latest on 348 pricing in 2019??
I am looking to buy and have spoken to a lot of people out there. Some priced at 70/80k but some good RHD examples at around £40/50k.
What should be reasonable?
Have you seen the "good" £40/50k ones? When I was looking for a 348 some years ago, most of the ones I looked at were not great - one was particularly awful. I ended up paying more than I wanted to, but got a good car (which I sold about 6 years ago). I am looking to buy and have spoken to a lot of people out there. Some priced at 70/80k but some good RHD examples at around £40/50k.
What should be reasonable?
Personally, although I liked mine - I think the current price for them (and some other Ferrari models) is a tad insane. I think I paid £28k for my 348 seven or eight years ago, and that was expensive. Much as I liked the car, I simply don't think they are worth £70/80k compared to what else you can buy for that money - and personally, I wouldn't pay £50k for one either. Obviously current 348 owners will disagree, and if you particularly want one - and you're happy with the market price - then I'm sure you'll love it.
Evoluto said:
Does anyone know the latest on 348 pricing in 2019??
I am looking to buy and have spoken to a lot of people out there. Some priced at 70/80k but some good RHD examples at around £40/50k.
What should be reasonable?
Looking at what is currently for sale: and 'asking prices' so £41500 will buy the cheapest LHD, and then its upto £47500 for other LHD's. RHD cars seem to be starting at £46999 and right up to the silly £80K cars.I am looking to buy and have spoken to a lot of people out there. Some priced at 70/80k but some good RHD examples at around £40/50k.
What should be reasonable?
I've had mine 2 years, when i was looking most cars LHD&RHD were starting at £50K plus.
I would expect many of the cars dealers have are on Sale or Return, and as such they may not do any deals, if you can find a dealer who owns one as their own stock, maybe there could be a deal at this time of year.
Personally i think they are still a good buy, when you look at asking prices for 308, Mondial, and 360 Modena, its a lot of car for the money, compare what £40-50K gets you in Air cooled Porche land and your quids in!! plus they dont drive half as bad as the press made out back in 1990 either!
Email me if you want any more details about mine, running costs, what to look out for etc happy to help - as everyone usually is on here.
Just dont look to try buy one solely as an investment, buy it because you want a Ferrari, run it, and enjoy it! You'll lose far less money than if you bought a new Lexus or BMW anyway so its not all bad news!
Andy
andyman_2006 said:
Looking at what is currently for sale: and 'asking prices' so £41500 will buy the cheapest LHD, and then its upto £47500 for other LHD's. RHD cars seem to be starting at £46999 and right up to the silly £80K cars
I've had mine 2 years, when i was looking most cars LHD&RHD were starting at £50K plus.
The LHD cars are slow sellers (most, if not all, of the LHD cars have been for sale for 2~4 years now!).I've had mine 2 years, when i was looking most cars LHD&RHD were starting at £50K plus.
When Ferrari prices started to take off, loads of dealers went over to the continent and bought up LHD 348's for @ £25K, hoping to sell them in the UK for £50K~£60K - That never happened. Now they are up for @ £40K~£47K, and are still not selling!
Despite all the claims on here that LHD makes no difference, the vast majority of UK buyers don't want them (something to bear in mind should you ever need to sell the car)
andyman_2006 said:
......I would expect many of the cars dealers have are on Sale or Return, and as such they may not do any deals, if you can find a dealer who owns one as their own stock, maybe there could be a deal at this time of year....
I've only dealt with The Ferrari Centre (both buying and selling), in both cases on a sale or return basis. They keep an eye on how the market is moving, and advise selling owners accordingly. They start out with a price they believe the car is worth, but if they get no inquiries, they advise the owner accordingly, and suggest lowering the price slightly, until they do get some interest.However, if the owner decides not to take their advice, then they leave the price as it is (The Ferrari Cenrtre have a 348 TS with 53K miles on the clock that is priced POA. Despite advising the owner that he has set an unrealistic price for the car, the owner refuses to reduce what they're asking for. The car has been for sale for over 3 years now!)
So even on sale or return, deals can be done - If the owner is sensible!
andyman_2006 said:
......Personally i think they are still a good buy, when you look at asking prices for 308, Mondial, and 360 Modena, its a lot of car for the money, compare what £40-50K gets you in Air cooled Porche land and your quids in!! ......
They're a great car in their own right, that drive like a big go-cart. As Henry Catchpole noted in EVO magazine (From: https://www.evo.co.uk/ferrari/458/12164/ferrari-45... ):".....The 348, if I’m honest, was probably the car I was least excited about driving, assuming it would just be a poorer, slower first stab at the 355. But now I’m excited because it’s instantly obvious this car has some of the best steering, possibly the best, that I have ever sat behind.....
and (From: https://www.evo.co.uk/ferrari/458/12164/ferrari-45... )
".....There are similarities and differences from first to last but each has its own distinct personality and you could find multiple perfectly rational and perfectly irrational reasons for being excited by any one of them. For example, my highlight was probably the 348’s steering, and that’s not something I’d expected at the beginning of the day......
The styling is a bit Marmite - You either love it or hate it (personally, I love it!, it's a baby Testarossa! - But then again, I have fond memories of the whole "Miami Vice" 80's
). The build quality is pretty much identical to the much vaunted 355, the ride is a bit too race car firm for some, and it's a car you have to "learn", to get the best from it (the 348 doesn't give up it's ultimate performance easily!) - Which brings us nicely to:andyman_2006 said:
.....plus they dont drive half as bad as the press made out back in 1990 either!.....
Let's clear something up here: The 348's reputation for dubious handling traits didn't come from nowhere!And, Ferrari didn't modify the rear suspension geometry on later 348's simply because they were bored!
But..........
The issues that the press reported back in 1990, tended to occur when the car was driven at the limit, in a manner that should only really be reserved for race tracks, and tended to be when drivers broke cardinal rules of fast driving, such as lifting off or braking mid-turn, at high speed. The fact that the motoring journalists only had the cars for a few day, and so didn't get a chance to learn the cars characteristics, and how to get the best from it, didn't help either. The 348 isn't a car that the average driver can simply jump in, and drive at the limit immediately. You need to live with it for a while, and learn what it likes, and doesn't like.
As Swiss Tony would say: "Driving a Ferrari 348 fast is like making love to a beautiful woman!.......You need to woo her, and find out what she really likes, to have the best time with her!"
The 348 (especially early versions - '89~'91), does not like nervy drivers! They also do not like cocky drivers!
Part of the problem was, Ferrari designed the handling to be like a race car on the road, which, at the limit, was fine for their incredibly experienced test drivers, and professional race car drivers, who could hold the car in a power slide all day long, but for "Joe Public", at the limit, it was a bit too on edge. Basically, Ferrari pushed the handling characteristics a bit too far for the average driver!
The thing is, today, the 348's are 26~30 year old classic cars, that get driven in a spirited fashion, but rarely on the limit. Owners today might push the to 7 or 8 tenths of what the cars can really do, but few will push it beyond that, so the cars feel perfectly fine to drive "at speed". To this day, at the limit, if you have some serious talent as a driver then it's not a problem, but if you don't, it could get costly.
andyman_2006 said:
.....Just dont look to try buy one solely as an investment, buy it because you want a Ferrari, run it, and enjoy it! You'll lose far less money than if you bought a new Lexus or BMW anyway so its not all bad news!
Andy
The whole "everyday" Ferrari market (as opposed to the rare classic Ferrari market), is starting to slip back slowly now, so the time to buy one as any sort of investment is pretty much over for the time being.Andy
I agree that any Ferrari (not just the 348), should be bought to be driven and enjoyed, and not purely bought to be parked up in the hope of making money from it (and that's exactly what Enzo Ferrari wanted for all of his cars).
Circumstances beyond my control forced me to have to sell my 348 TS, and I miss her every single sunny, dry, salt-free day! - It was a wonderful experience!
(I still have the rare folding targa top for my 348, because the temptation to have another one is so great. The only fly in that ointment is, as much as I still love the 348, it is topped by my love for the 308/328 GTS! - It's a hard life!
)But, when it comes to the 348, in the words of Ferris Bueller: "......I love driving it, it is so choice. If you have the means, I highly recommend picking one up!"
(
I bought mine at the beginning of 2018. It was what I wanted, RHD, and black on black. It was needing a bit of work as it had been unused and neglected for a good few years. I could have bought a good LHD example for around what I paid. It so far has been surprisingly reliable, I replaced the Cats as rattling, new rear tyres, and various small jobs. It runs and drives well, but it is a work in progress car which is also what I wanted and enjoy tinkering with it.
Decide on what you want then try and find it. They are very simple and reasonably straightforward to work on, and enjoy.
This should give you an idea of the wee jobs you can tackle, I think he is up to episode 5.
https://www.youtube.com/watch?v=Q2TNrkWX-8I
Decide on what you want then try and find it. They are very simple and reasonably straightforward to work on, and enjoy.
This should give you an idea of the wee jobs you can tackle, I think he is up to episode 5.
https://www.youtube.com/watch?v=Q2TNrkWX-8I
I would love a 348 (have wanted a Ferrari since i was about 4 years old) and will soon be in a position where i could actually afford one. This talk of values does worry me though, i would hate to buy then see them back at the £25k mark in a couple of years.
As said, £50k nowadays for a good one is a lot of money and there are a lot of good cars around in that price bracket. If i was to buy it would be a car to use (and fulfill my childhood dream) but also something i would want to feel safe having my money tied up in.
As said, £50k nowadays for a good one is a lot of money and there are a lot of good cars around in that price bracket. If i was to buy it would be a car to use (and fulfill my childhood dream) but also something i would want to feel safe having my money tied up in.
AceOfHearts said:
I would love a 348 (have wanted a Ferrari since i was about 4 years old) and will soon be in a position where i could actually afford one. This talk of values does worry me though, i would hate to buy then see them back at the £25k mark in a couple of years.
As said, £50k nowadays for a good one is a lot of money and there are a lot of good cars around in that price bracket. If i was to buy it would be a car to use (and fulfill my childhood dream) but also something i would want to feel safe having my money tied up in.
Personally I find it inconceivable that cars like the 348 will ever be back at the £25k or so mark for the following reasons:As said, £50k nowadays for a good one is a lot of money and there are a lot of good cars around in that price bracket. If i was to buy it would be a car to use (and fulfill my childhood dream) but also something i would want to feel safe having my money tied up in.
1- By anyone’s estimation this is a rare, desirable, car, and due to the price inflation of cars in general you can no longer buy those attributes for £25k. In other words the “base level” of car prices has risen a lot. There will be no shortage of people who would be delighted to pay £35k for a nice 348 these days, so how would it ever end up at £25k? I don’t see it.
2- The desirability of these cars has risen, not decreased with the passage of time. Every classic car is obviously desirable when new, then gradually drops over the subsequent years until it is seen as borderline undesirable in comparison to new models— but eventually its desirability starts growing again and pretty much keeps going. The 348 is more desirable now than it was 5 years ago, and will be still more desirable in 5 years time; they’re not going to make any more cars like this. This is it.
Ultimately sure, there’s a lot of nice cars around £50k to choose from. But how many raw, analogue, manual, dramatic, mid-engined Ferraris with iconic styling are there? Just one.
So long as that spec is desirable (and what kind of world would it be if it wasn’t), 348s are going to be just fine.
Unless they’re LHD of course
4rephill said:
The whole "everyday" Ferrari market (as opposed to the rare classic Ferrari market), is starting to slip back slowly now, so the time to buy one as any sort of investment is pretty much over for the time being.
I agree that any Ferrari (not just the 348), should be bought to be driven and enjoyed, and not purely bought to be parked up in the hope of making money from it (and that's exactly what Enzo Ferrari wanted for all of his cars).
Circumstances beyond my control forced me to have to sell my 348 TS, and I miss her every single sunny, dry, salt-free day! - It was a wonderful experience!
(I still have the rare folding targa top for my 348, because the temptation to have another one is so great. The only fly in that ointment is, as much as I still love the 348, it is topped by my love for the 308/328 GTS! - It's a hard life! )
But, when it comes to the 348, in the words of Ferris Bueller: "......I love driving it, it is so choice. If you have the means, I highly recommend picking one up!"
(
as ever, i have nothing useful to add here ( other than sy has one, so avoid at all costs ), but belated congratulations on the longest post on pistonheads since lesley's outburstI agree that any Ferrari (not just the 348), should be bought to be driven and enjoyed, and not purely bought to be parked up in the hope of making money from it (and that's exactly what Enzo Ferrari wanted for all of his cars).
Circumstances beyond my control forced me to have to sell my 348 TS, and I miss her every single sunny, dry, salt-free day! - It was a wonderful experience!
(I still have the rare folding targa top for my 348, because the temptation to have another one is so great. The only fly in that ointment is, as much as I still love the 348, it is topped by my love for the 308/328 GTS! - It's a hard life!
)But, when it comes to the 348, in the words of Ferris Bueller: "......I love driving it, it is so choice. If you have the means, I highly recommend picking one up!"
(
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