308 gts - Ferrari Life
 
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post #1 of 12 Old 05-31-2010, 01:34 AM Thread Starter
 
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308 gts

I'm thinking of buying a Ferrari 308 GTS but since I am new to Ferrari as a whole I have three questions if you guys can help me with advice.

1. How much should I pay for it at the most? What is it worth?
2. Is it true that a second hand Ferrari 308 GTS never looses value and actualy increases in value with time?
3. Since this is quite an old model, is it hard to find replacement parts or are there problems when taking the car to a service garage etc? Have you guys been experiencing problems with such an old car?

Thanks for answering!
J0EY
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post #2 of 12 Old 05-31-2010, 01:51 AM
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Quote:
Originally Posted by J0EY View Post
I'm thinking of buying a Ferrari 308 GTS but since I am new to Ferrari as a whole I have three questions if you guys can help me with advice.

1. How much should I pay for it at the most? What is it worth?
2. Is it true that a second hand Ferrari 308 GTS never looses value and actually increases in value with time?
3. Since this is quite an old model, is it hard to find replacement parts or are there problems when taking the car to a service garage etc? Have you guys been experiencing problems with such an old car?

Thanks for answering!
J0EY
1- We need more info from you like where are you located, this could definitely affect the asking price. If you are in N America anywhere from 25k for a poor to fair to 50k for a pristine, all depending. If you are looking for a 308 I would suggest moving up to a 328, more HP and upgraded styling.

2- No not at all, there has been very little sign that the 308 has leveled off or hit the bottom sale price yet. Not saying that in time they won't go up but it might take 10 to 20yrs as they become more rare. One thing is for sure vary low production # compared to other Ferrari, that is a good thing.

3- Plenty of parts to go around, used and new plus tonnes of aftermarket upgrade components, you will not have a problem.

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post #3 of 12 Old 05-31-2010, 02:16 AM Thread Starter
 
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Thanks for your answer Night Life!

I'm located in Europe.
The 328 sounds good! So if i understand you right it might take 10 to 20 years before it actually increases in value but at least it won't lose value right?
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post #4 of 12 Old 05-31-2010, 02:33 AM
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Joey,
I agree with Night Life's answers. The 328 is by far one of the most bullet-proof Ferraris and an excellent choice for a first time buyer. It is an upgraded version of the 308 building upon that experience and success.

Having said that, the 308 is a damn fine car. And like we've said, you are not apt to lose money on it. I bought mine 8 years ago for $23k and I figure it is now worth about $30k (its insured for $29k). It is not a pristine example, it is a driver's car. The only real issue I've had with mine was when the ignition points failed. I upgraded it to electronic ignition doing the work myself and the kit I got was a universal kit from Crane Cams and the whole job cost like $500. That was 6 or 7 years ago. No issues since then. (other than the stupid windows)

I went with the 308 rather than the 328 because I wanted the carbs. I just love the sound of 4 Weber 2-bbls wide open throttle at 7,000 rpms!

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'79 308 GTS, '82 Jeep CJ7 Jamboree
"Time is what prevents everything from happening all at once."
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post #5 of 12 Old 05-31-2010, 02:45 AM Thread Starter
 
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Thanks alot for your comments Pete! Very helpful
I will go for the 328. Not sure about the color yet though.
Black or red? I think black might be a bit nicer what do you think?
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post #6 of 12 Old 05-31-2010, 02:47 AM
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Quote:
Originally Posted by J0EY View Post
1. How much should I pay for it at the most? What is it worth?
2. Is it true that a second hand Ferrari 308 GTS never looses value and actualy increases in value with time?
3. Since this is quite an old model, is it hard to find replacement parts or are there problems when taking the car to a service garage etc? Have you guys been experiencing problems with such an old car?
1. Depends on which 308 model you are after and in which country. Early fiberglass carb 308 GTBs are worth 2x what a 308 GTBi would run.

2. No values move with the market based on supply and demand. All are full depreciated. Values in the UK currently range from GBP 40-45k for a Fiberglass 308 GTB to under GBP 20k for a 308GTBi.

3. No there are plenty of knowledgable mechanics around. Never had an issue finding parts.
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post #7 of 12 Old 05-31-2010, 03:21 AM
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Originally Posted by J0EY View Post
Thanks alot for your comments Pete! Very helpful
I will go for the 328. Not sure about the color yet though.
Black or red? I think black might be a bit nicer what do you think?
Black is sweet but hard to keep up with. Red is easier to keep looking good. Plus, it's a Ferrari. Aren't they supposed to be red? LOL.

Capt. Pete
'79 308 GTS, '82 Jeep CJ7 Jamboree
"Time is what prevents everything from happening all at once."
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post #8 of 12 Old 05-31-2010, 09:26 AM
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Joey, welcome to Ferrari Life!
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1. Depends on which 308 model you are after and in which country. Early fiberglass carb 308 GTBs are worth 2x what a 308 GTBi would run.
...in England, I suppose. This statement definitely does depend upon which country. Here (U.S.), a euro GTBi QV is just as rare and desirable as a fiberglass carb 308 (because of weight due to emissions standards, as well as body stying). Only 712 fiberglass 308s were made and only 748 GTBi QVs made. I chose my rare euro GTBi QV over a fiberglass (by the same seller, at the same price) back when the U.S. economy was still strong. Of course, the U.S. saw a huge drop in exotic and collector car pricing since then and only recently have prices started to come back up. Still, you'd be hard-pressed to find a good example of any 308 for less than U.S.$30G that didn't need money sunk into it.
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2. No values move with the market based on supply and demand. All are full depreciated. Values in the UK currently range from GBP 40-45k for a Fiberglass 308 GTB to under GBP 20k for a 308GTBi.
U.S. figures are the same, but the statement should end with "GTS or GTB" not "GTBi" since the european fuel injected GTBi is on par with the same cost as the Fiberglass 308s (which were all GTB models). Again, l'm talking about the U.S. market only.
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3. No there are plenty of knowledgable mechanics around. Never had an issue finding parts.
The same goes here for the U.S. With a 308, you probably have the easiest Ferrari to maintain.

Joey, I hope you are settling for the car and color that YOU want, and not depending on our opinions. For instance, I wouldn't want a 328 over a 308, because I like the toggle switches and black bumpers. I wouldn't want a targa over a GTB, because I like the shape, side windows, and rarity of the GTB. I wouldn't want any other color but red, because I find it exciting on a Ferrari, and I like the red racing heritage. Others feel the same way about their cars which are different from mine. You have to decide what you want and go from there. Don't buy anything other than what you want. And when you do, post pictures!

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post #9 of 12 Old 05-31-2010, 12:01 PM
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My comments are all based on the UK/European market.

Here the ranking on price would be:

Fiberglass 308 GTB
Steel Carb 308 GTB or 308 GTS
308 GTB/GTS QV (4 valve fuel injected)
308 GTB/GTS i (2 valve fuel injected)

with QVs and Carb going for roughly the same amount of $. Current condition will also have a huge impact on prices.

Product numbers by model are:
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post #10 of 12 Old 05-31-2010, 07:33 PM
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Thanks for that, Boxer. There is definitely a difference between the european and U.S. markets. The U.S. market isn't into foreign cars as much as it is into the domestic car market (Fords, Chevys, Cobras, Mustangs, Hot Rods, Rat Rods, Muscle Cars, etc).

Of course, Ferrari Life Americans are into the european cars, but that's not the case for most of America. We see outrageous sales like a '69 Camaro COPO for $225,000. a '69 Olds Hurst for $90,000. A '56 Chevy Nomad (stationwagon) for $70,000. Don't get me started on the Mustangs and Cobra phenomenon. What we don't normally see is a dominance of foreign cars at most weekend car shows and gatherings. Oh, there is a small percentage of foreign exotic cars at these shows, but usually it has to be a gathering geared toward the exotic and foreign car market. NASCAR dominates here, and they think F1 is Indy racing.

Likewise, most Americans think ALL 308s are the same and they all cost $15,000. This is why car guys into Ferrari know the 308 market differently from the rest of American car guys, and probably why the market is viewed differently from the european market. "Hey Magnum!"

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post #11 of 12 Old 06-01-2010, 12:54 AM
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Here (U.S.), a euro GTBi QV is just as rare and desirable as a fiberglass carb 308 (because of weight due to emissions standards, as well as body stying). Only 712 fiberglass 308s were made and only 748 GTBi QVs made.
Good points raised about difference between the US versus Euro markets, where the latter market seems to value the 308's, particularly the earlier ones, for more than the US market. This may have to do with the fact that until the 328, the 308 in US spec was heavier and less potent than the Euro spec 308. The earlier the car, the more this difference was. For instance a US spec fiberglass 308 had a wet sump as opposed to a dry sump of a Euro spec 308, 205hp as opposed to 255hp of the Euro spec 308 and weighed about 100lbs more with bigger bumpers and smog equipment. If I recall correctly, the US magazines of the time found the GTB/Si to to quicker than the fiberglass GTB, a very different picture to the Euro spec cars.
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post #12 of 12 Old 06-01-2010, 09:27 AM
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To be sure, the early glass car is desirable and rare. It's just part of the ongoing argument as to which is more collectible...the rarest? the fastest? the 2 cyl.? Wet vs. Dry? Here, we have our own standards which different from Europe. Living in Europe, you are loaded with cars that aren't allowed here in America. I could go to almost any car show in America and ask an American car guy about a Facel Vega, Triumph Stag, or GT6, and all I'd get is a puzzled look on their face as they ask, "a what?"

I like to show my car, and try to find a show with a mixture of foreign and domestic cars. There may be 50 hot rods (which i like, too) and 5 foreign cars at these shows. Most attendees have no idea about a 308 other than it was part of a TV show here. Oh well!

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