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For Sale 1989 348 TS "Challenge/Speciale"

Discussion in 'Ferraris' started by Chupacabra, Mar 14, 2020.

  1. Chupacabra

    Chupacabra F1 Rookie
    Rossa Subscribed Owner

    Sep 30, 2005
    2,572
    Behind a drum kit
    Full Name:
    Mr. Chupacabra
    Hello all,

    After ten years of ownership, I have decided to offer my 348 for sale. Some of you here may "know" this car, either from meeting me or from when Fchat member Ingenere owned it (20 years). For the right person - someone who wants a performance-oriented Ferrari to DRIVE - it is a very special car. Car currently has 51,xxx miles.

    First, all of the good stuff:

    The car is, per the service records and Ingenere, the first car to receive Serie Speciale updates in January '92. The upgrades were offered to Ingenere as a sort of test run prior to the actual numbered SS cars.

    F40LM Brembo brakes front
    F50 brakes rear
    SS carbon kevlar seats
    Original Challenge series magnesium wheels
    Challenge springs
    Tubi Exhaust with test pipes
    Full Schedoni luggage set with tools (missing one wrench) and manuals. Per the manual, the very brief (+/- 400 miles) first owner was Chris Cox of 250 GTO (and many others!) fame. It is essentially a two owner car, but technically three.
    Most major updates have been addressed

    Car was feature in Forza Magazine #77 in an article titled "Prescription For Passion"

    Gearbox was rebuilt in 2009 by Alex Traverso in Phoenix. Components from a 355 Challenge gearbox were used, so the gearing is a bit shorter and more acceleration-oriented.
    Clutch, triple seals, all clutch/gearbox seals are essentially new, installed maybe 1,000 miles ago, I can check and verify.

    I have an uninstalled OMP Challenge-style wheel that will come with the car, as well as a spare fuel gauge send unit and a spare fuel pump. Original catalytic converters will come with the car.

    Since I have had the car, the majority of the work has been performed by Abacus Racing (most recent) and LMN Motorsports, both in Virginia Beach, VA. If you have interest, I'm sure Rob at Abacus or Lutzo at LMN would be happy to talk to you about the car. Abacus ran a compression check the last time I had it in for fluids/shift cable adjustment/electrical troubleshooting (exactly one year ago) and everything looked good.

    The not so good (but not really bad):

    The car needs a major. It is running exceptionally well and is currently not leaking a drop. Fluids, etc. are done annually no matter their condition. I'm not all that concerned about it as I used Hill engineering bearings and did a complete major at LMN last time (2013). BUT...we all know what the schedule is, and it is certainly due.

    When the SS updates were installed, the lower sills, top, engine cover, buttresses, doors, mirrors and bumpers were all shot with dual-stage paint. The font and rear quarters and the vented portion of the engine lid remained single stage. Why, I do not know. I had the front end resprayed in 2011 to get rid of rock chips, and the paint shop did...OK. There is some uneveness in the hood that is difficult to photograph. The car does not look BAD by any means and consistently draws compliments, but I am OCD (seriously) and if I keep the car I am repainting the whole shebang.

    Carfax lists one issue, I was assured by Ingenere that this was due to an inept bellboy at a hotel who dragged a coat hangar across a fender. I had a PPI and have had numerous mechanics who I know and trust work on this car and none has ever seen any accident damage. Any that may have been is clearly far too minor to notice and as far as I know the frame is perfect. This can of course be confirmed by another PPI.

    Tires are a bit long in the tooth.

    Interior does have stickies and is showing it's age. It is not a bad place to be, but a little touchup would go a long way. I can provide interior pictures to anyone who is interested.

    Windshield wipers, high beams, and speedometer recently decided to stop working. Not a huge problem for me as I don't drive it in the rain and I know the car well enough to drive by the tach, but I plan to fix those issues on my dime during a PPI...or if I keep the car, when I do a major in April.

    So, that's about it. $52,500 as it sits. If you want a major, it will be a bit more, but we have very good mechanics with very good labor rates around here. If it doesn't sell, I'm going to go all-out and do a major, paint it Rosso Barchetta, have Universal Autosport french shields into the fenders, and spruce up the interior. It really is a great car, and to be clear - I do not HAVE to sell it. I'm just thinking it may be time to try something different.

    Feel free to PM me and I'll get back to you. No brokers please, unless you are willing to pay my ask (and we all know how likely that is). I'd prefer members with more than one post contact me as well. Thanks!


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  2. Vance4re

    Vance4re Rookie

    Jan 1, 2018
    25
    Atlanta,GA
    Full Name:
    Vance
    Beautiful car, GLWTS


    Sent from my iPhone using FerrariChat.com mobile app
     
    Chupacabra likes this.
  3. Chupacabra

    Chupacabra F1 Rookie
    Rossa Subscribed Owner

    Sep 30, 2005
    2,572
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    Mr. Chupacabra
    Thank you sir, it is a very fun, raw Ferrari! Certainly has that "big go kart" feel!
     
  4. cnpapa24

    cnpapa24 F1 Rookie
    Silver Subscribed

    Jan 19, 2014
    3,162
    NOLA
    Full Name:
    Chris
    Who did the upgrades?
     
  5. jferrante

    jferrante Formula Junior
    Silver Subscribed

    Jul 9, 2016
    421
    Nice car, post more pics!1

    Sent from my Pixel 2 XL using Tapatalk
     
  6. Wade

    Wade Three Time F1 World Champ
    Rossa Subscribed Owner

    Mar 31, 2006
    30,114
    East Central, FL
    Full Name:
    Wade O.
    Okay, so now I can only get $40k for mine :(

    Good thing it's not for sale. :)

    Btw, anyone who says they're "looking for a 348" and don't buy yours... well, they're probably lying. ;)
     
    anunakki likes this.
  7. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
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    Ferrari Of Scottsdale. I wasn't the caretaker at this point as I was thirteen years old, but I can probably put someone who wants all the details in touch with the previous owner :)
     
  8. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
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    HA! Thanks!

    I would be asking QUITE a bit more with the major, paint and interior. If there are no takers and I end up "restoring", I doubt you'll see it for sale again.
     
    Wade likes this.
  9. Drew_4RE

    Drew_4RE Formula 3
    Rossa Subscribed Owner

    Dec 19, 2005
    2,212
    Santa Monica, CA
    Full Name:
    Drew
    Any interior pics?
     
  10. malex

    malex Formula 3
    Silver Subscribed

    Dec 5, 2007
    1,131
    Ponte Vedra, FL
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    Mark
    Keep it. You're going to regret selling it at some point down the road. I've had a lot of cars over the years and the only one that I truly regret selling is my former 348 Challenge.

    Rosso barchetta would look awesome.
     
    vinny84 likes this.
  11. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
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    I'm just waiting for a day when I get home before dark to get a few. I owe several people a few anyway, so I'll throw them up here when I'm done.
     
  12. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
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    I can understand why, your 348 is simply awesome! In fact, yours is the reason I bought the Challenge-style wheel. I still remember how good that car felt, even at perfectly legal speeds and G forces. To be honest, this one with the wheels, springs, and brakes, etc. is pretty incredible. The brakes will pull your eyeballs out, and the overall feeling of driving the car is, to quote myself to Zygomatic once long ago, "like walking Cerberus on a leash." :) It is not for the faint of heart and I have to say it is a vivid contrast to my 575. It is nice to have that option, no doubt.

    I agree, Barchetta would be a fantastic hue on the 348...and the thought of properly frenched shields really excites me.

    Dammit... :)
     
    zygomatic likes this.
  13. jferrante

    jferrante Formula Junior
    Silver Subscribed

    Jul 9, 2016
    421
    I wouldnt mind having those belts. Any idea if those are sourceable?
     
  14. Chupacabra

    Chupacabra F1 Rookie
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    As far as I know, they should be, though they have a few years on them at this point.
     
    jferrante likes this.
  15. Juan-Manuel Fantango

    Rossa Subscribed

    Jan 18, 2004
    7,338
    Full Name:
    Juan
    Cool car. Is there any way to document the items that would in my mind make it a prototype? Interesting story that would make it more valuable to some collectors. Will never sell my 348 Challenge but also need to do a major. I hate for anyone to touch it. That is the issue.
     
  16. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
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    I _totally_ understand. My car is running SO well I hate to even take it in.

    As far as the prototype question, Ingenere could probably answer that better than I, though the work is documented with dates in the service records. To my knowledge there were no cars other converted prior to January '92.
     
  17. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
    2,572
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    OK here's what I have decided - if the car doesn't sell (at ask) before 5 April, I'll go ahead with the appointment I have at the paint shop to begin the resto/personalization.

    I'm thinking people likely have a bit more than new Ferraris to worry about right now, and I'm not 100% committed to selling anyway.
     
    vinny84 and Texas Forever like this.
  18. texasnoiz

    texasnoiz Rookie

    Oct 7, 2018
    21
    Sugar Land
    Full Name:
    k s
    Car looks great! I’d keep it and personalize! What would a ‘major’ run ($?) in a 348, if you do not mind me asking?
     
  19. vinny84

    vinny84 Formula Junior
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    Nov 20, 2008
    342
    PA
    Full Name:
    Vince
    All depends on what it needs while the engine is out. Could be as little as $7,500 or as much as $15k. When I had mine, it cost me $15k.
     
  20. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
    2,572
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    Mr. Chupacabra
    Thanks! The last one I did came in right around $5300, and that included a few items that are not on the typical menu. We have better labor rates here than in many places, and of course not using a dealer for service is key...as much as I like FOW :)
     

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