Classic values and prices explained? (please?!)

[MDMetal]

Looking at things like the 348 which there's some examples of around 30-40K what is good to look out for? How does one find out about running costs and maintenance and what future values are likely to be?

[355Chris355]

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Dare you to post your question here

[Wombat3]

Italian cars - they rust if not properly cared for. Look for signs of salt corrosion - some have been driven in the winter & put away wet - which may not have been the best idea.

348s require engine out Cambelt services which makes them more expensive to maintain than 308s & 328s. Like all Ferraris they have their foibles - the AC panel is a known one. Tons of information available on Ferrari related web sites. Expect to be pleasantly surprised at how inexpensive some parts are and prepare to take out a mortgage for others - there is a lot of inconsistency. Some parts are NLA. Plenty of independent specialists to maintain them (and published service pricing) & lots of knowledge/information available on the web. The youngest 348s are about 20 years old now so expect to do work outside of the maintenance schedules.

Edited by Wombat3 on Thursday 12th February 18:06

[4rephill]

MDMetal said:

Looking at things like the 348 which there's some examples of around 30-40K what is good to look out for?

Have a look on www.Ferrarichat.com (some on PH seem to have an issue with Fchat but it's a valuable resource for any Ferrari owner as far as I'm concerned).

Also, for the 348 series, take a look on: http://www.my348.com/

MDMetal said:

How does one find out about running costs and maintenance....

Do a search of the independent specialists such as:
http://www.ferrarimaserati.co.uk/services.htm
http://www.thesupercarrooms.co.uk/ferrari-service
http://www.serviceamari.com/car-servicing/ferrari-...

Be aware though that sometimes, problems that appear to be an "easy fix" can easily be an expensive fix! (for example, if the headlight/indicator switches become faulty on a 348, it's easy enough to replace the switch unit, but the switch unit will cost @ £900).

Working out the running costs can depend on how you're going to treat the car.

I bought My 348 TS from The Ferrari Centre in Kent and the owner, Roger Collingwood, told Me that the best thing you can do for any Ferrari if you want to keep it in the best of health, is to drive it as often as possible!

He said that they are cars designed to be driven, and they they actually don't take too kindly to being parked up for months on end doing nothing. In their experience, they've found that a lot of issues that the cars have, have been caused by too much inactivity. Oil drains off parts in the engine, seals can dry out, parts can seize in place, moisture can get into components causing issues.

He told Me: "The problem is, due to the cost of the cars, many owners don't drive them because the added mileage knocks the resale value of the car, which is a bit sad really because the real enjoyment of Ferrari ownership is driving them, not just looking at them."

His advice to Me was: "Drive it and enjoy it! Try to drive it at least once a week and give it a good long run to get everything properly warmed up - And buy a good garage dehumidifier if you park it in a garage, don't use one designed for home use as they're not up to the job!"


If you do decide to buy a Ferrari to drive though, when you factor in your fuel costs - Double it!

1) These cars tempt you to drive using all of the rev range (once fully warmed up!), to get the best out of them and to make the really good noises, and whilst they're doing that they like to drink petrol like Oliver Reed in a bar where the booze was free!

2) You'll set off with an idea of where you want to go or how far you want to drive, and then you'll want to drive further because you're enjoying it so much!

(One of the saddest parts of Ferrari ownership is having to park the car up at the end of the day!)

MDMetal said:

.....and what future values are likely to be?

How are your crystal ball skills?

At the moment, prices are on the up.

3*8 GB/GTS prices have gone ballistic in the last couple of years, whilst 348 prices have had a slower climb as they're not as popular (their 80's looks are a bit marmite [personally I love the look - It's like a mini Miami Vice machine, and it helps that I loved the 80's!], and they have an undeserved reputation as not being a very good car [The funny thing is, a lot of recent magazine articles that have done a review of the classic Ferrari's have come back to the 348 and said that they'd forgotten how much fun it was to drive, and how go-cart direct the steering was. EVO magazine recently wrote that out of a 308, a 328, a 348 and a 360 that they tested, the 348 was surprisingly one of the most memorable and enjoyable due to it's direct steering and raw driving experience! Apparently, it was better than they remembered!] ).

In a years time, 348 prices could be heading for the £40K~£50K region, but there again, with the General Election coming up, the economy could change suddenly and prices could start dropping back off again (I doubt it would be a major crash in market values as has happened before, but prices could revert back to the £25K~£30K range).

Basically, if you're thinking of buying a 348 as an investment, you might make some money but you could just as easily lose some money, nobody can say for sure!

(Personally speaking, I bought My 348 TS as it has been a 36 year dream to own a Ferrari and I bought it to drive, not as an investment. If people buy Ferrari's purely as investments and then lose money on them then I have no sympathy for them at all!)

[Kyodo]

4rephill said:

If you do decide to buy a Ferrari to drive though, when you factor in your fuel costs - Double it!

1) These cars tempt you to drive using all of the rev range (once fully warmed up!), to get the best out of them and to make the really good noises, and whilst they're doing that they like to drink petrol like Oliver Reed in a bar where the booze was free!

+1!