They say these cars at least hold value. Some make money. What did a 328 GTS cost new in 1989 ? Whats the average for a nice one now ? Say an average unmolested one probably a 9/10 50 0000 km / 31000 mile car ? Do they at least hold their origional value even at the scruffier low end of the market offerings ? Skin.
Ferrari cars actually sell at or above retail at first. Then, they depreciate, some massively. Then they bottom out and either apreciate or pretty much hold their value. I don't know much about 328's but my 1985 308 sold originally for about 60k, depreciated to about 30ish and then began appreciating to about 45k three years ago. Price last year, 37k delivered. I'm assuming it will hold this value and probably creep up over the next ten years, but who knows for sure? If Magnum PI is remade and the economy recovers, prices could skyrocket. It won't matter though as it won't be for sale. Average price for a 328 in excellent condition is around 45 to 50K i think. Others on here will know better.
Original window sticker on my '89 328 GTS shows $84,780. There was an additional $1500 gas guzzler tax on top of that.
mike996 is right about the 1989 MSRP. The earlier ones actually started out in the mid $70K range, IIRC. As far as values now, there is a wide range. $20K-$30K is generally beater or parts car territory. $40K-$50K is a nice driver. Up through that level, you may find re-dyed leather, aftermarket wheels, painted spoilers, various audio and alarm systems drilled into the interior, etc. $50K-$60K would be a platinum level car by FCA standards. Much above $60K and you get into the time capsule/keeper cars that tend to have low mileage and be in pretty much original condition. I think an unmolested, 31,000-mile 328 GTS that is truly a 9/10 will retain value very well, provided it's a color that a lot of people want (red or black, usually) and has a clean history. I would caution you on the "some people make money" comment. Given that a full major service at an independent here in San Diego runs $5500, and given that things are bound to need replacing on a 21+ year old Ferrari, I'd say the value is in the driving and ownership experience. They really are the last strikingly good looking Ferraris, albeit no longer the fastest.
328 values have been remarkably stable over the last 15 years after taking a huge haircut in the early 90s. Some 89s actually sold for 200K at the market top in 1990. Since 1995, I've seen values go up and down perhaps 10% either way mostly depending on economic conditions. Dave
Viewed an 89 328 once that was the original owner's second 89 328. The first one was bought back by the dealer after he had done 1000 miles in it. The price that the dealer paid was a brand new 89 328 + £17k. The dealers weren't allowed to sell new cars over list. Sweet deal for the owner.
don't forget inflation though! 89 dollars are worth a lot more now... What cost $85,000 in 1989 would cost $145,000 in 2009.
Better breakdown: The 84,780 on my window sticker is the total, including dealer prep and shipping. Dealer prep was $350; "destination charges" were $630. The "Manufacturers suggested port of entry retail price" was $83,800. The car was delivered to/sold by Van Ness Auto Plaza in San Francisco, CA.
In South Africa, the current average price of this average to good '89 is in the R600 000.00 - R675000.00 range. Convert that back to US$ / 7.50 and we get 84000 $ US. About what you paid new. I Have no idea what these cars cost new in SA Rands but I'm willing to bet that the price was much higher than you paid and the depreciation gap is about the same. Interesting hey ? Skin.
I clearly remember seeing a 1988 328GTS at the Ferrari delaership selling for $91,000 CDN (+ taxes of course) back in 88...it was my dream car since its debut in 86 and I thought man..i'll never afford one
So cool you finally got your "dream car"... I never even bothered to look back then because I was poor and never thought I could afford ANY Ferrari... I was hoping for a Corvette some day Glad you finally got your dream car... I got mine in March '08... ('86 GTS, 61515) Jedi
Whoever 'they' is, don't use them for a financial adviser. Ferraris are useful toys and you pay for the privilege of playing with them. Out of warranty Ferrari's are also a gamble and if you can't afford the game, best to buy a Porsche where the stakes are smaller. Read not infrequent stories in FChat of $40k service bills on $60k cars or even $12k engine replacement on a newly acquired 308. But if you can afford $1/mile ownership costs and can also do much of the DIY stuff, Ferrari's are great hobby. Meanwhile when you hear "They say", always ask who "THEY" are.
hey thanks Jedi! ya best feeling in the world eh! ...funny how as a 15 year old drooling over the car I always knew I would have one but estimated back then that I would be too old to enjoy it by the time I had enough money to buy here LOL....I still have 'the' poster I bought back in 86 of our car now resting in the garage right above 'the real thing'......hell I'm gonna take a break from this report I'm writing and go say hi to my mistress in the garage with a glass of my papa's (he turned 80 this past February) home made wine !!!!
Good for you Johnny... I'm the same with the posters, and the "age thing"... when I was 15 I thought a guy my age, 48, was ANCIENT!! Well, I'm here to say I'm NOT ancient (Shut the H up Ashwin, should you see this!!) - and LOVE my 328 GTS just as if I were 15 all over again. Have a glass of wine for me, would ya? Cheers... Jedi
Mine was sold new in Nov 86 as a 1987 car. List price 70,600.00 Prep 395.00 Cell phone 5702.30 (!) MDTS (?) 98.00 Total 76795.30 without tax The guy traded in a Porsche 930 for $28,500 Interestingly enough, it was financed.
I would LOVE to find more history on my car. Particularly when it was sold to who and such. I only have records from 1998 or so. I know 85 308s were running in the mid 60k range if I remember correctly. PDG
I just posted the same question over in the Aussie section... http://ferrarichat.com/forum/showthread.php?t=283843 Funny thing is that todays asking price is close to what they sold for back in 86
i read in a couple of periodicals that the 86 328 s were 67,000,,,i didnt think the price went up into the 80k range after 3 years...but im sure i read that they had a sticker of 67k....in 86..i paid 47900 for my 89 in 99 with 20 k miles,,,i thought i got a pretty good deal,,,i didnt get a ppi,,,but the dealer seemed trustworthy,,and he even replaced the leaky oil cooler with a brand new on....and they gave me a good deal on a 30k service before i took delivery of the car....i had the cash,,so i was able to drive the car off having had the service...did the next service at 40k then 60k and april of 2010 did the major with 87ki miles,,,im glad i bought the 89,,seeing its the best of the run,,,and the car is definetly proving to be so.............
For What Is Worth... In 1989, the Ferrari 328 was sold in France for 420.000 francs/GTB and 440.000 francs/GTS, this without any option (I have listed these and their prices in another post). According to the French National Institute for Statistics, the actualised value of these sums in terms of purchasing power would be 92.950 euros and 97.375 euros at the end of 2010. There are different reference grids for old sports car prices, some more or less "official". But we can consider that the average accepted market price for a good, clean car with a solid history is 42.000 euros for a GTB, and 44.000 for a GTS. An exceptional car would probably command 10% more. That would be about half of their original value, taking actualisation into account. Observation of the market on the last fifteen years shows that, just as "Hardtop" said about the car's value on the U.S market, the average price of a very good second hand market 328 is almost the same since 2000. So the 328 more or less holds its value, inflation not taken into account. It is the only car to do so among the Ferrari V8 cars. It would seem that, since the beginning of this year, the prices asked by the sellers in France are actually a bit on the rise. Of course, it is always very difficult to know the actual price paid, but for the first time some new adds have an asked price above 50.000 euros for a GTB, and above 52.000 for GTS. Best,
anybody have a 328 window sticker they can post? wish we could get repos made. Pontiac used to make them for $50.00 for old Trans Am's and GTO's.
There used to be ones on eBay. The seller would put in your VIN, color and dealer. Not perfect originals, but good.
