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F355 Market

Discussion in '348/355' started by Robb, May 19, 2015.

  1. FLORIDAsnakeEyes

    FLORIDAsnakeEyes Formula 3
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    Jul 7, 2015
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    OC
    Since mine just had the valves done, water pump and every other conceivable part done...I won't be selling any time soon. But it is interesting that the market is slumped on these specific cars right now and 360s are sooooo low that we are probably going to snatch a 360 or F430 this next year too.
     
  2. Kruegmeister

    Kruegmeister Formula Junior
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    Nov 24, 2016
    401
    Michigan
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    Kruegmeister
    I search like a Searchbot, I don't use of, the, and, etc..
    I know all the tricks like (Vette,Corvette) to OR my results, I use the Advanced sometimes, Tools allows getting just past day, week, month, year. Use the Quotes a lot cause nowadays Google tries to "think for me" it sucks at it BTW...
    I like the way it used to search...
    Nowadays if I select "must include" which just puts the Quotes around that word, I'll do a "Find in Page" search and the darn page doesn't have the "must include" word... how the F is this a relevant search result for me... arggggghhhhhh!!!!!!

    Anyways, a car listed on Multiple sites means nothing. Many of these Dealers do not remove their ads... the place I bought it from had it listed for sale for 1 1/2 years after I bought it. Because of that it came up on Cars.com & Classicthisorthat.com sites a plenty all with a bot Copy & Paste job of the same Desription...

     
  3. Kruegmeister

    Kruegmeister Formula Junior
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    I'm the Same when it comes to Porsche. All I see is VW Bug...
    I'd rather own a C4 Vette and that is my least Favorite Vette...
    I'd rather drop 30K into a 355 that I overpaid for (haven't yet, but gonna go 355, 458 or 599 this coming spring to bunk with the 430)
     
  4. f355930

    f355930 Rookie

    Mar 23, 2018
    25
  5. judd10

    judd10 Formula Junior

    Dec 30, 2006
    320
    Seattle, WA
    #3305 judd10, Nov 12, 2018
    Last edited: Nov 12, 2018
    That's what I thought... for a long time I was interested in getting a 991 (911) to complement the 355... I live in the Seattle area so I was looking for an everyday fun sports car that I could also drive year 'round. Drove some 991 C4Ss, Macans, etc., but no emotional connection... until I came across the new 991 targa. I ended up purchasing it a year ago & love it. I find myself driving it more often than the 355. In the last year, I drove the 991 4k miles and the 355 about 1k. Anyway, the top removal mechanism is really cool and extremely convenient. Check it out... Just my 2 cents. Here's a link to a video of the roof opening (not my car) below the original dealer pics of my car (I've changed the wheels and done some other upgrades since purchasing).

    Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
     
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  6. bcar1

    bcar1 Karting
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    Aug 2, 2017
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    I think the market for 20-30k mile cars w records has been relatively stable for the last 2yrs and does not appear to be trending up or down. Time is much better spent finding the exact spec car you want than waiting to buy something below market. I bought my car in August 2017 and I wish I could have spent $5k more to have it in May. Even if you buy a perfectly sorted car there’s going to be a decent amount of time spent getting everything exactly right (sending sticky parts to Dave can be a 3+ week turnaround, 1wk of shop time can equal 1 month+ of downtime). Clearly some of these guys >80k$ are dreaming but there doesn’t appear to be much worth buying <60k$. Just my thoughts.
     
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  7. f355930

    f355930 Rookie

    Mar 23, 2018
    25
    Good points,

    I think the market was actually up last year and peaked June-18 in my observation. Looks like we have a wave of cars in the market now from $31-129k. The sub $45k cars is a gamble and if I had the skills to work on them I would do it.The biggest issue I have had is gap's in history or complete missing history or ask is to high-high risk (valve guide not done, headers old etc). While I used to buy a car based on passion or looks, I am just being more cautious. I am expecting some work needed as you noted, stickies (which I will send to Dave) or maybe tires etc.. $80K+ for 30k mile's, I'd rather wait.

    cheers
     
  8. Jakuzzi

    Jakuzzi Formula 3

    Mar 26, 2005
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    Not offensive when I reply...…… :)
     
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  9. BOKE

    BOKE Beaks' Gun Rabbi
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  10. Jakuzzi

    Jakuzzi Formula 3

    Mar 26, 2005
    1,439
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    Jaime
    So.... Ferrari made a mistake in making a car meant for DRIVING, instead of being locked away in a garage? :)
     
  11. Laserman

    Laserman Rookie

    Oct 26, 2018
    24
    Minneapolis, MN
    Well, I am looking at a purchase and I needs some advice from the community.

    I am looking at a 355B with about 30K miles on the clock.

    If it is fully vetted for valve guides, compression > 200psi, leak down test < 20%, AC, brakes, water pump and headers, what should a "prudent" buyer be willing to pay for this (US dollars)? In todays market which I would characterize as weak.

    I understand there may be some of you that are sellers and some of you that are buyers. I expect some variance here based on your perspective.

    Would like to drink the cool aid but I need perspective.

    I don't believe in Ferraris as investments especially this model.

    Laserman
     
  12. Dave rocks

    Dave rocks F1 World Champ
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    Nov 23, 2012
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    No way can anyone accurately apply a value on a couple sentence description. Pictures? Link?
     
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  13. Laserman

    Laserman Rookie

    Oct 26, 2018
    24
    Minneapolis, MN
    Forgot to add that the vehicle is a Manual not F1.
     
  14. BOKE

    BOKE Beaks' Gun Rabbi
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    Dave beat me to it, and I'm sure you are excited about finding a car, but how about the year of production the VIN, the colors, etc Pictures would help too.
     
  15. Laserman

    Laserman Rookie

    Oct 26, 2018
    24
    Minneapolis, MN
    Dave Rocks,

    I understand your need for information, however, I do not wish to put the car on display, because it does in reality have many short comings. Let's say it is not of con-course quality. I am trying to determine what a prudent maximum should be if everything were as I stated.
     
  16. BOKE

    BOKE Beaks' Gun Rabbi
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    $20K
     
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  17. Dave rocks

    Dave rocks F1 World Champ
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    Chris, there are no two equivalent 355's in existence. Anyone that applies a value based on your post is purely making a wild guess. If you want an accurate valuation, details and photos are needed.
     
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  18. Deadshort

    Deadshort Rookie

    Sep 6, 2018
    25
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    t
    If the market is "weak" why not buy a 355 in better condition instead of shopping in the clearance section. If the market is truly weak the deal on a good car would be better.

    I think the market is fine, just not a lot of good cars for sale.
     
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  19. BOKE

    BOKE Beaks' Gun Rabbi
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    Plenty of good cars available but you will need to bust out $80K plus.
     
  20. flat_plane_eddie

    flat_plane_eddie F1 Rookie
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    Mar 30, 2013
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    I barely see any cars for sale that are truly sorted, or at least have the major issues sorted out.
     
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  21. Skippr1999

    Skippr1999 F1 Rookie
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    Dec 22, 2009
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    Yep. Because that’s what good, sorted cars are worth.
     
  22. carnutdallas

    carnutdallas Formula Junior
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    Nov 11, 2010
    787
    Dallas Burbs
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    Rob
    New factory clutch being installed by the most reputable independent shop in Dallas. My car is in a climate controlled garage and last time I drove it, I felt the dash was looking slightly more wrinkled. Bought a nearly new one on this forum.

    By Christmas, my car will have been fully serviced and sorted in last 2 years, new clutch, nearly perfect dash, dare I say zero mechanical defects (cleaning fuel door actuator and alarm battery for final sniglets) only wear is to drivers seat bolster like all tan cars. Very minor, but no interest in making perfect. 34k well sorted, documented miles. Has had a few owners, but a story to support it.

    I had an offer of $85k on it and it was something I would take, but clutch was suspect and did not know it until driving, so as soon as Dallas rain stopped, I immediately dropped it off. Would have taken money off of deal and made concessions, but glad the deal never happened.

    People are p’s or d’s in my opinion. All talk, whinny, scared, demanding, full of $h?!. If I am selling a car, fairly describing and representing, willing to stand behind it, then do not not pick a 20+ year old exotic car and expect it to be like a new Pista. If you want cheap, then buy internet troll junk and stay the Hell off my Lawn.

    When I bought the car from Eddie, I talked to him, looked at a few pics. Visited with a knowledgable 3rd party. And wired the money, my portion and my bank loans portion. Sent a truck and picked it up. If you cannot do that, then stop shopping or asking about these cars. You can spend 20, 50, 80, 100 or 125+. If you cannot figure that out, then shame on you.

    I love this community. The owners, vendors and regular contributors are fantastic sours of information. Dave Is a godsend when it comes to products, knowledge and willingness to help. As well as many, many others. But to get on here and ***** about 20 year old Ferrari’s and not see the value and joy in the simplicity, the sounds, the beauty and the quirks, is frankly an insult to most of us. It is a car. It was built when that period of technology for a car was at its peak, yet Ferrari was barely solvent. The cars today are other worldly compared to the 355, but they do not have the sounds, the visceral experiences and the soul of these “classics.” Buy one before you die. Enjoy the one you already have. I almost made the mistake of selling mine, because I thought it was financially prudent. Screw that, I own an F’ing Ferrari. If you cannot figure that out, well then my heartfelt condolences to you.

    Happy Thanksgiving! I am eternally thankful for my family, my friends and my Ferrari!


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  23. Swartzy

    Swartzy Rookie
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    Dec 28, 2017
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    Hesston, KS
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    Brett Swartzendruber
    I'm new around here and certainly not an expert so I haven't said much since I joined other than introducing myself and posting a few pictures of my car - but I do feel I have something to add here in response to Chris' (Laserman) question.

    I agree 100% with Dave & XENU above - I haven't seen any 2 355's the same in terms of quality, condition, combination, etc and to put a value on a hypothetical car is fairly useless...... HOWEVER I do believe it's fair to discuss RANGES of values based on combinations of condition, options, miles, service, etc.

    For example a sub 5K mile example of and variant will certainly fetch more than a 50K mile exact clone of the same car. So miles certainly carry some weight in the overall valuation. You mentioned 30K miles which in my PERSONAL opinion is a great range to be shopping in. I feel like a car that's seen regular exercise has a hell of a lot better chance of being currently sorted than one with a recent service but no miles in the last 5 years.

    Back to the idea of value ranges: (assuming 30K miles and 3 pedals - this is important)

    Premium Cars
    I would expect to spend $80K + (up to 125 maybe?) for an example with the valve guides & exhaust addressed, new correct matching tires, excellent paint, no accident history, current service with quality service history, no sticky parts, no sagging engine mounts, no check engine or slow down lights, everything functioning properly (a/c, windows, adjustable suspension, etc). These are the cars that are treated like a member of the family and like has been mentioned here there just aren't a lot of these caliber cars LISTED for sale right now. It's been my experience that these cars sell privately by word of mouth without ever being advertised.

    Average Cars
    I would say this is the bulk of what we all see advertised publicly and they range in value from $60k - $80K. Maybe slightly more if they have a few issues but really stand out in other areas. For example maybe they haven't had a belt service for 4.5 years but they are in excellent condition otherwise, etc.

    Cheap Cars
    There are examples to be bought for under $60K and I'm a believer that there are some great deals to be had here... however buying a $45,000 355 is very risky. I've heard from more than one experienced Ferrari owner that the most expensive one you can buy is the one with the cheapest purchase price. If your'e looking at a car in this price range I'd be doing triple the homework you would for a well documented premium car.

    There are always other things to factor in like factory options such as Scuderia badges, Carbon sport seats, Fiorano package, etc. Then there are the other value adders like a set of Challenge wheels, factory car covers, classiche certified, etc.

    ***** My personal advice - buy a premium car that someone's been driving recently. Pay a fair price for a quality vehicle and enjoy the hell out of it. I've put over 1.500 miles on mine since the middle of August and it's AMAZING! Worth every penny even at twice the price.

    Hopefully this long rambling post stirs up some constructive conversation.
     
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  24. BOKE

    BOKE Beaks' Gun Rabbi
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    I will throw in on this. The most important thing when you are considering any car for purchase is getting the car checked out from stem to stern. Issues like when the last belt changed happened are irrelevant if the car is in great shape, the engine and transmission test out to what is to be expected, and the car was well cared for. As always, your mileage may vary.
     
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  25. rockminster

    rockminster Formula Junior
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    Nov 20, 2003
    653
    SF Bay Area
    I bought a 27k mike ‘96 GTB this past summer for $72k, knowing it needed a major. The car was very solid, but needed the major and what might come up with that.

    I wanted a car where I did the major as opposed to relying on what might have been done by someone else. I did the major, plus a new clutch, plus valve guides. Other than wanting to swap to a non airbag steering wheel, the car is now fully sorted and could be driven cross country without hesitation. I’m in the car for low 90s now. That might be underwater but I don’t care - the car is fully sorted and ready to roll.


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