Official 328 GTB/GTS Market Thread

My '86 GTS took a Silver at the 2015 Pasadena Concorso this past weekend. Would have been gold except "dinged" for a few upgrades like braided SS hoses on the engine and Aluminum Billet pedals. 70,275 miles on her with no leaks anywhere. With the way prices are now, I'm putting her out there for $79,999. Red/tan and I believe to be every bit as much if not cleaner as the '86 that CNC Exotic is asking $89,999 for with 63,000 miles on the clock. Am I at a "reasonable" price based on current asking prices in the market?

There is no down side to this. If she doesn't sell for what I am asking I get to get her.

 

'89 328 GTB listed for $169,995

Ferrari 328 GTB | eBay

 

I'm going to stick my neck out and say this is the highest asking price for a US 328 ever, even including the '90's bubble, even if you factor inflation.

-F

 

Pretty close. I've seen some figures from the bubble roughly from late 89 into early 1990 where asking prices were in that range. I think the highest asking I ever saw during that period was around $180,000.

 

1987 Ferrari 328 | GR Auto Gallery

$119,900 for an 87 328GTS with 26,600 miles.

 

Of course, as we know asking prices do not always equal sale prices. Nevertheless, $180,000 in 1990 would be $325,000 in today's dollars, still considerably above the apparent world record $270,000 paid for a GTS at auction last August.

 

Yes, I have no idea what that car actually sold for. I just mentioned that figure as the prior poster was talking about "Asking prices" around the time of the 1990 bubble.

 

Actually Dino, when I see some of these current asking prices I envision you staring at your screen with a smile from ear to ear, as you certainly have one of the most pristine low mileage 328s on the planet.

 

Yes, just looking at asking prices.

I thought the top price for a 328 back in the 90's was around $120,000 but I can't point to anything specific. The MSRP for a 328 back in 1988 or so was around $62,000.

Granted, if $120,000 was the number back in 1990, that would equate to around $215,000 today so I guess $160,000 doesn't represent the top.

A copy of DuPont Registry from that time period would be illustrative.

-F

 

Hi Larry, thanks for the kind words about my car. Asking prices are a double edged sword. On one hand I feel good about the car maintaining or gaining in value, but then it makes one worry about having appropriate insurance values for it (I've had to increase it 3 times in 12 months). Besides, if something happened and I wanted another just like it, it would be basically impossible to get, as it has a one off interior making it a bit different, from the bulk of low mileage cars are red/tan.

The MSRP for a 328GTS in 1988 was around $78,000 and by 89 it was around $84,500.

$120K was far from the top of asking prices during the bubble for a new 328. Actually, even before the bubble took off on 328s, one of my nearest dealers had a practice of charging $10-15k over MRSP on 328s. During the bubble the same dealer had a used 86 GTS with 6,500 miles going for $120K, and my own car sold for $160K when new.

 

Thanks for the info. Based on the Road & Track test performed I think in '87, and based on window stickers around that period, I see a MSRP of around $63,000. A window sticker from an '89 Ferrari (presumably from around '89) has an MSRP of around $85,000.

Regardless, it seems the 328 has a ways to go before it surpasses the values from the early '90's.

-F

 

IIRC Both Road & Track and Car and Driver, tested the 328GTS in May 1986 issues, and its MSRP was around $63K and a GTB was around $58.5K. I believe the MSRP in 87 was in the low 70s for a GTS. Cheers!

 

In the June 1978 Car and Driver that I have, the GTS had a base of $36,411. As tested car was $37,649.

In today's dollars, the base car is $131,860.

 

So, the educated advice is to hold a bit longer? I've got a pristine 87 328 GTB, 25, XXL miles. No rush to sell, but will when I sense the top of the market.

 

Trying to time the car market is like trying to time the stock market. Pretty hard to do. Look at it this way:

As long as the things that drive up the values of collector cars remain, collector car values will rise. If one or a few of those things disappear, values will start to come down. A correction in the stock market is due. Maybe it will come this year, maybe years from now.

My gut feel is that values for 3x8 have gone up a bit too fast.

But then again, if a Boxer is $400k-$500k and a Dino is around that price, what is the "right" price for a 3x8? Half that? Right now prices for 328 are running about 20% of the prices for those other two cars. Does that feel right or too low or what?

Or cross shop with newer cars. Does a 328 seem like a fair trade for a 360 or F430 ($100k)? Perhaps. How about a CS or a Scud ($180k)? Maybe, maybe not.

The real question is, what makes you happy? Does a 360/F430 do it? If so, might be time to jump in. If not, wait around and see what happens.

-F

 

Good info Furmano. Still undecided, But definitely interested in a 360. Not so much a 430 even though I know they are a major step up from a 360.
Greg

 

Buying a 360 is just like buying any other Ferrari, buy the best you can afford. Though they are more plentiful than 308's or 328's, finding a nice one that is spec'ed the way you want it and has been well maintained throughout its life is harder than most people think.

If you find a nice 360 today, I wouldn't worry about values tomorrow, even if 360's might be lower and 328's higher. Buy what you like because you might be stuck with it for a while. But if you buy what you like values are secondary.

-F

 

An issue I'm wrestling with is how to possibly sell my car and buy the next in the same transaction through a dealer in order to avoid sales tax. I would be getting a balance check plus a car in return. The challenge is: a) locating the correct 360 (red/tan coupe, 6MT, prefer daytonas), b) selling my 328 GTB at the right price at the same time, and running it all through a dealer. I haven't yet figured out how this may happen, because I won't take a low ball trade-in for car, which a dealer surely will only offer. So, I wait. Hopefully time is on my side with both sides of the transaction working in my favor!
Greg

 

If you buy your 360 from a dealer they will often do a courtesy trade - meaning you agree to sell your car to a private party, the dealer takes your 328 in trade and then sells it to the third party at the price you agreed to. Because you "traded" it in you only pay tax on the diff in value. Generally they want all transactions done at the same time - so your buyer would need to come with you to the dealership with you when you buy the 360.

 

Slvr, thanks for the response. I've already got a local dealer who's an acquaintance and will help with my deal should I come to him. I understand the sales tax credit, that's why I would want to coordinate the sale/purchase together. My car's sale price should exceed the 360's price, so I'll be getting a balance check and paying no sales tax, as I mentioned above.
The challenge is the timing of locating the proper 360 and finding the right buyer for my 328, and logistics of making it happen.

Honestly, I haven't fully decided if I even want to sell my GTB; if I do it should probably go quickly as it's red/tan and moderately low miles. My wife thinks I should keep it, can you believe that??!!

Greg


Sent from my iPod touch using Tapatalk

 

Monthly Report ...

- On Mobile.de there are 31 Ferrari 328 (GTB e GTS) on sale:

Risultati della ricerca: Auto in automobile.it

Max Price: 210.000 €
Min Price: 79.000 €

Over 160K €: 2
150 to 159K €: 0
140 to 149K €: 0
130 to 139K €: 1
120 to 129K €: 1
110 to 119K €: 3
100 to 109K €: 2
90 to 99K €: 10
80 to 89K €: 9
70 to 79K €: 3

 

Monthly report ...

- On Autoscout.24 there are 39 Ferrari 328 (GTB e GTS) on sale:

Offerte

Max Price: 210.000 €
Min Price: 72.000 €

Over 160K €: 2
150 to 159K €:1
140 to 149K €:3
130 to 139K €:0
120 to 129K €:1
110 to 119K €: 4
100 to 109K €: 2
90 to 99K €: 9
80 to 89K €: 15
70 to 79K €: 2

 

we bought our 88 GTB from LFSC for 57k in 1997 with 5500~ miles...no interest in selling now but I guess 150k wouldn't be out of the question....170k for the ABS model w/22k miles is a bit steep....the non ABS cars look better in my biased opinion

 

I was a little surprised to see that Hagerty didn't increase their values for 328 GTB/GTS's. The price stayed the same from their January valuations.

https://www.hagerty.com/valuationtools/HVT/VehicleSearch/Report?vbe=119229

https://www.hagerty.com/valuationtools/HVT/VehicleSearch/Report?vbe=84721

 

I don't know how many people subscribe to the Ferrari Market letter, but their values are incredibly out of date. For a company to publish a price guide, I'm sure some of the prices they quote are arrived by throwing a dart at the wall. For Ferrari Market Letter to say the asking price of a 328GTB is $42,482, is absurd. 328GTS at $51,396. So here's a price guide that when Gerald Rousch was alive and running it, was pretty good, and now- not so much. If no one puts a 328GTB up for sale, then they have nothing to base their prices on, so they stay the same.
For someone at Haggerty to follow values of a car that very few change hands, and arrive at a value to publish, is almost impossible. We are focused on these cars, they're trying to come up with values for ALL the classic cars. I think almost an impossible task.
We look at them for accurate values, but actually we are following the market with more focus than someone who is claiming to be authoritative.