Value of Mondial t Cab???

Before I chime in, I'll chime in with: beautiful car!!! It looks very nice!

Now...
The question is: when was the last major service done?

Mondials haven't weathered the value books as well as we F-car fans had hoped. This also means that the affect of a looming major service has a much higher percentage swing than on, say, a 348.

If the car is up for a 60K major soon, you'll be shooting $25.5K-$27.5K. If you've had it done very recently, I'd ballpark the value at $30K - $32.5K. I know this sounds low, but around the Northwest, the values of Mondials have been hit hard by the number of very fast newer cars out there (like Lotus Elise, Boxsters etc...)

Just take it as one data point. Others might totally disagree...and the values certainly vary by geography and where you advertise.

 

Please contact me re: your '89 T Cab.
I may have a buyer for it.
Ron
www.ronsusser.com
630 567-0066

 

By the way, I just have to ask...is that a 1987 Nissan Pulsar parked next to your Mondial T Cabriolet?

 

While this is all completely "water under the bridge" since I'm not actually looking for one, if I WERE looking for a Mondial (in CA, where you and I are both located), I would be looking for a car in-state due to smog reasons. I would look for a convertible (*duh* - California weather!). I would look for a red over tan or cream Mondial T. I would expect to pay no less than $40k for any car that passes a PPI and has less than 60k miles.

That's just me - perhaps my expectations on pricing is artificially high. I understand that dealer "advertised" prices aren't actually what cars are selling for, but when you see enough T's advertised north of $50k, you start to believe that $50k is the "going rate", if you will. That said, I'm shocked you haven't had any interest.

I personally love the color combo - my GT4 is red over cream (or whatever the '79 version of "crema" is/was), and I wouldn't think twice about buying a car with the mileage yours has. Eugenio's lists a 30k (MAJOR) service @ $4995, so maybe I'm giving the market too much credit, but it seems that a price in the high-20's (or even lowish 30s) is WAAAAAAAY too low. Perhaps it's just not the right season for FCar selling?

I dunno... That said - if you find yourself kicking around the idea of "just getting rid of it," maybe shoot me a PM. While I wasn't thinking of a new car anytime soon, I can always change my mind at a moment's notice. Of course, I think you and I both know there's no way a T-cab is going for under $30k.

Take care, and Happy Thanksgiving!

Aaron

 

I've personally talked to owners, brokers and dealers who have purchased T Cabs for under $30K. As I said before, they are higher miles and coming close to needing a major service.

Part of the problem is that collector car magazines for years have been saying that the value of an eight-cyl F-car right after a major and before a major can be a $15,000 price difference. That is very unreasonable, but has really affected the market.

I'm in no way in the market for a Mondial. (I turned down an opportunity to buy 3.2 cab for $24K two months ago.) So please don't think I'm positioning.

As I said, it's just one data point.

Perfusion brings up a great point-- it is true that emissions equipment is a huge deal for CA buyers, and if yours has been smogged, it is of greater value in CA than an out of state car.

 

sammyb, I luv ya, but I would have to agree with the statement "I would expect to pay no less than $40k for any car that passes a PPI and has less than 60k miles."

I'm sure these cars can be found in the So Fla auctions and on the wholesale dealer circuit for around $28K-$35K, but none of them would be cars that anyone on F-Chat would want to buy. Heck, you can't find a shabby t Coupe (that hasn't been wrecked) for that!

I can give you the data point that I have personally counseled, spoken to and ridden in four t Cabs that have recently traded for more than $45K to retail buyers, and have been worth every penny, for both the seller and the buyer! $40K is not out of line for a car that looks that good and has no stories.

When you say there is "a $15K swing" with or without service, that sounds like a car dealer "grinding" if I ever heard one, especially when that "$15K swing" turns into a $5K swing in retail values by the end of your story.

Look, a car is worth what folks will pay for it. Repairs and maintenance are very expensive on these cars if that maintenance and needed repairs have been deferred or poorly done. There is a reason why the Cavallino and FML price guides support the assertion that $40K (and nearly $50K for true "low mileage" and concours example cars) is in line for a reasonable example. Sure, the 4-seaters don't enjoy the "premium" that the 2-seaters boast, but they are the same car, mechanically.

As these cars get older, condition plays more and more a part of what a car sells for. The fact that this fellow hasn't gotten a lot of bites is because enough (or the right) people haven't seen the car "for sale" yet...

-Peter

 

Peter,
I agree with you on all of your statements. I think my statements have been misinterpreted. Firstly, I'm talking about actual sales prices, versus what was actually advertised. I would agree that you're not going to find many Mondial T Cabs -advertised- anywhere south of $35-$37.5K.

Secondly, this doesn't include buying/selling via a dealer, only private sales, since this is what the original question concerned. Private sales tend to be much lower priced (on average,) because most states require dealers to address safety issues and represent the car perfectly, and they add the premium for the convenience.

And finally, this is mostly based on what I've seen of cars and owners from WA, OR and N. California.

As for the $15K value for service, I wasn't speaking of those F-Chatters who are well-versed, rather those that would make a Mondial/3X8 their first F-car. Pick up any article from a major enthusiast publication speaking to the values of these cars (From a Keith Martin publication to a Primedia pub) and the number that keeps coming up as the delta in value between pre-30K and post-30K service is $15K. I absolutely, positively, without a doubt think this is a stupid figure, but like many things automotive (like the Big Three running Tucker out of business, lowering a pickup tailgate gets better fuel economy, "doozey" as an adjective beginning with Duesenberg, and Chevy Nova not selling in spanish-speaking countries) people start to believe it because it is repeated so often.

Personally, I think a $5,000 swing in value is reasonable, but $15K is foolish. I'd love to see the data to show the pre/post value data of sales to current/former F-car owners versus first-time F-car buyers.

But again, I don't think we're really in disagreement, other than I think you'd be surprised what these cars actually sell for in the Northwest via private sales. There's a reason we have so many curbstoners (unlicensed car brokers) here. They buy cars for $10K under value and sell them to the south, midwest, east (or Europe) for some pretty insane profit.

 

Maybe raise your price and re-list it!!

Ok, so for what it is worth...

First your Mondial looks like it is in really great shape. Is it? Pictures can be VERY deceiving. This is not meant to be an insult, but a picture can hide a lot. (For the record your Mondial looks really good from the picts).

I ask- because I looked for a Mondial for over 15 years and I must say I looked at a lot of duds that looked good in pictures but not in the flesh. There are a lot of trashed Mondials out there and because of that, the prices are really all over the board. One in good shape should be worth 40k easily.

I think it is 1/2 of what the 'market will bear' and 1/2 of what an idividual 'will bear'. We have all seen it. Many new trucks fetch close to 40 grand (plus), so is a nice Ferrari worth that??? I think so.

If your Mondial is in good condition, what do your friends say when you tell them it is for sale @ the 40k price?

All that being said, if someone wanted a conv. red Ferrari that seats two, but can seat 4, than you have a pretty desirable car on your hands-and 40k would be a bargain. (Perfusion actually put it very well).

Let's get back to supply and demand. Your Mondial fits a small-very small niche (not of buyers, but of Ferrari 4 seat/conv.) and will only continue to get harder to obtain. The prices should be somewhat reflective of that-if they are not then we as owners/sellers only have ourselves to blame. Remember we set the market!


While there are newer faster cars out there, they are not Ferraris. Pull up next to a boxster or a corvette (which cost more) and see who has the car "envy"...

Remember thousands of people by a certain brand of motorcycle, that has poor build quality, is slow, and costs double that of bikes that are faster and much better built. It is all about the namesake so perhaps there are no "rules".

 

That interior is something else! Two things: Winter is coming, so demand for cabs slows. Also, bonuses are coming out in the next 2 months. Let's see what happens then.

 

You're right - it does count for something, and it's good news. As a seller, you also know that the burden of smogging the car pre-sale falls on the seller (per the DMV). If I were a potential buyer of your car, I'd be much happier if it passed CA smog "this time last WEEK with no issues!"

When I bought my GT4, I basically offered the guy full asking price (probably not smart on my part, but what the heck...it's done now) on the condition that HE get the car past SMOG. He said, "No problem...."

Yeah - $2000 and a month later, the car was mine! I suppose it all worked out for us both - I got a smogged, carbed Ferrari, and he probably got close to what he needed out of the car even after the expenses he incurred.

I would be much less worried about any modern-era (i.e., 328 and newer...maybe even 308QV and newer) Fcar passing CA SMOG, assuming cats are functional.

 

The best thing for a seller is to not be in a rush. The timing comment is absolutely right -- cabriolet sales slow in the winter, as do exotics. The sales slump continues throughout the mid April, when people need money for taxes. (Lots of great deals for buyers, though.)

If you can do the major, it gives you plenty of time.

I had my '69 Corvette listed for over a year (I didn't really want to sell it.) Every time I did something minor to the car to make it run better, or I just started feeling more attached to it, I raised the price. I had it listed for what I considered a dream price, and I got full ask for it back in March after nobody ever coming out to look at it for over a year at lower prices!

So do the major, take great pictures (lots of high-res ones without clutter in the background.) Then post an advertisment and wait for the right seller.

What everyone has been saying is true: while the Mondial is not the most coveted Ferrari, there are plenty of people out there who want a true convertible Ferrari and don't want to pay for a 348 or 355. The market isn't going down (certainly not after 20 years,) and all it takes is a little movement in the overall market (hey, real estate is slowing down, which means more money for other investments!) to make the Mondials start climbing strongly, along with 3X8s.

 

Lusso,

I just ended my year long quest for a nice Mondial T Cab. I have looked at a bunch of them. At $40k your in the ball park. Many buyers with the 89 T Cabs model are concerned with the routine maintence that has been done and if the major service has been done. As you already know, alot of first time buyers like myself won't want to or maybe cannot afford to sink a chunk into a car and have to turn around and sink another $5-8k within months of buying it. My major was negotiated as a condition of buying it. I can now budget for the next biggy. If the major is done on your car ..I'd say stick with $40-45k. With he major not being done, and your current miles I'd say it will move fast between $35-40k. Stick to your guns! That is unless you need to move it. Try a marketing trick of raising the price $2500 and say you'll throw in $2500 toward the major service. Sounds appealing. Everyone loves to get cash when they spend money to buy a car.

The Ferrari market letter says the average asking price for your the T Cabs is about $46,000. I think the dealers are trying to push this up (which is a good thing) though and I was seeing some low miles cars close to $50k.

Nothing against the "red" Mondail T Cabs, but if you go online they are everywhere and buyers have several to pick from. Be patient.

Your car looks great. If you can highlight why yours stands out above the rest...i.e. any upgrades, accessories, copy of a clean carfax, etc., you'll do much better. Also as previously mentioned already..Nov-March is the slow sales time. Thats when tight wads like me like to convertible shop. The average joe gets his tax return after March/April. Also, when the winter weather breaks and the itch to be out with the top down hits, it'l break.

One other hint, photo the Mondial from bumper & ground level up. Check out Naples Motorsports web page, they do an awesome job of photographing the Mondials at the right angles. Background is important as well. Take it to a park or near some water. I'd suggest a difused (sp) fill in flash as well.

I'll pass your car info on to my buds who are looking for the right car. Best of luck.

 

Your car seems a solid $40K car, I would sell the 355 now, those prices are indeed falling and there are a lot more 355 out there and being pushed down by 360's. Modial t cabs are unique and an "enzo" car... might actually be worth something someday, doubtful but who knows?

 

If you can afford to, wait until Spring to sell it - hard (even in California) to sell a convertible right at Xmas time...

 

I may have a buyer for you in the Los Angeles area. Please call me at (323) 717-3378 or my email is gealogorealty@hotmail,com

 

Is this a new high? And its not "resale red".

http://www.ferrarichat.com/ferrariads/showproduct.php?product=638&sort=1&cat=11&page=2
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My wife and I bought an 88 1/2 3.2 Cab red over black. Eight thousand miles. Perfect, complete service history all dealer maintained and documented. We paid $44,000.00 which included a major service which I had them complete before I picked it up.
The car has been great. I dont have the opportuity to drive it as much as I would like. Currrently, I have 11K miles on it.
Thought I would put this out there as a point of reference.
Hope this helps.
- Ron

 

I don't know if it's a new high for him, but he is definetly high. He needs to put down the bong.

 

Saw one last year in NY for more than that.

Also I would not part with mine for under 70k.

 

The quote is a partial of Fyrrari's quote but, I would have to agree that due to the limited number of Mondial t cars out there, we would be looking at higher values.

I'll never sell Rachel, so it's a moot point but, these cars are unbelievable and as such, i'm not surprised that the true "fever" has started to subdue and overpower the negative "Mondial" BS.

Wanna talk about Valeo?------------most folks don't have a clue

Cheers, Hank

 

More than I want to spend but I think $50 for this '89 t Cab is on target; has recent service, low miles (12900), has the dealer premium and is red/tan.

http://www.continentalautosports.com/inventory/details.aspx?id=NLIL0007.5/5514121

But then, Continental AutoSports always seems to have great products and pricing as well.