Considering a 1987 328 gts - Ferrari Life
 
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post #1 of 20 Old 09-05-2014, 03:49 PM Thread Starter
 
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Considering a 1987 328 gts

Hello

Hoping to get some wisdom from the group. I have the option to buy a 1987 328 GTS with ~58,000 on the odo

Basically, I'm trying to figure out a fair price. Based on eBay, Hemings, etc it appears that one with <= 25,000 miles could go for $60k-$70k. As the miles increase, the value decreases...

I'm trying to get an idea of services performed, but it has been owned by a family friend for the last 10 years and has been reasonably well maintained

I took her on a test drive last weekend and was getting some significant brake squeal under reasonable braking (I wasn't on a track or anything) - I believe that was coming from the front, left area

Also, it seemed to be running a little rough. This. Old be due to lack of use in the last 3-4 yrs. Adding to that, with constant right foot pressure on the gas on a flat road, it seemed like there was variable rpm performance (both based on visible tach change and audible change in exhaust note) like maybe the fuel flow wasn't clean

Anyway - the paint looks good (save a little road rash on the front), wheels and tires are in good shape, all tools are there, and I believe the car has been reasonably well maintained over time.

To the group - what would you pay? And what questions would you ask at this point?

Sorry if this seems like a n00b post - I have some knowledge of cars. But, this would be my first ferrari so want to make the right decision

Thanks (in advance)

Drew
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post #2 of 20 Old 09-05-2014, 06:11 PM
 
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1983 308 GTS Quattrovalvole

Last edited by Brian A; 09-05-2014 at 08:03 PM. Reason: Response digressive from OP's primary issue
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post #3 of 20 Old 09-06-2014, 10:00 PM
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Quote:
Originally Posted by drew_brannon View Post
Hello

Hoping to get some wisdom from the group. I have the option to buy a 1987 328 GTS with ~58,000 on the odo

Basically, I'm trying to figure out a fair price. Based on eBay, Hemings, etc it appears that one with <= 25,000 miles could go for $60k-$70k. As the miles increase, the value decreases...

I'm trying to get an idea of services performed, but it has been owned by a family friend for the last 10 years and has been reasonably well maintained

I took her on a test drive last weekend and was getting some significant brake squeal under reasonable braking (I wasn't on a track or anything) - I believe that was coming from the front, left area

Also, it seemed to be running a little rough. This. Old be due to lack of use in the last 3-4 yrs. Adding to that, with constant right foot pressure on the gas on a flat road, it seemed like there was variable rpm performance (both based on visible tach change and audible change in exhaust note) like maybe the fuel flow wasn't clean

Anyway - the paint looks good (save a little road rash on the front), wheels and tires are in good shape, all tools are there, and I believe the car has been reasonably well maintained over time.

To the group - what would you pay? And what questions would you ask at this point?

Sorry if this seems like a n00b post - I have some knowledge of cars. But, this would be my first ferrari so want to make the right decision

Thanks (in advance)

Drew
328 is agreat car but taking this example it is nearly 30 yeras old and has nearly 60,000 miles. The combination means it is an old car. Forgetting the running issue for a moment it is unlikely that there are not some issues that are not lurking. Possibly not major but in a 30 year old exotic by normal standards anything on an exotic is major. I do not know your level of ability to do any of the work yourself. That is a huge issue. As they age these cars get cheaper to buy but they never get cheaper to maintain.
You need to get this car to a mechanic well versed in 328's and get a report of the condition. Factoring in the runing issue of unknown origin and the unknown condition of everything else it is probably in the 40's.
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post #4 of 20 Old 09-06-2014, 10:46 PM
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Drew, welcome to FL. I would approach "old" cars with caution, if this is your first dip. In total concurrence with Brian's sage advice. Not much more to add.

Personally, no knowledge of 328 models, but based on your given impressions, my take would be at or below 40k. That is if you are dead set to get a 328 model. One of the reasons for me to say this because I feel the market overall is too inflated. The range you quoted IMHO is too high.

One more caution I have is buying from a friend. If issues come up, that may not be a pleasant thing to deal with between friends.

Good luck with your search.

w/ smiles
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post #5 of 20 Old 09-07-2014, 07:47 AM
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I agree with the prices being inflated. I think time is on a buyers side.
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post #6 of 20 Old 09-07-2014, 07:56 AM
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Like brian said a thorough pre purchase inspection by a VERY good FERRARI mechanic will answer all of your questions. It is hard for anyone to diagnose the condition of this car over the internet. Assuming it needs 5K in work, which could be low, i would be in the low 30's for this car max. It's almost a throw away. After you have had it for 5 years and it has 70k+ on it, it will be hard to get rid of.



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post #7 of 20 Old 09-08-2014, 01:09 PM Thread Starter
 
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All - thanks you so much for the input.

And I definitely get that it would be difficult to be too precise on the price without more data. As much as anything I was looking for an idea of the starting digit, and possibly a guess on the second (talking $4X,000 or 3X,000) - and sounds like without more info it's lower 3X,000

I spoke to a trusted mechanic this am (someone who has maintained 3x8s and other ferraris for several friends) and he was recommending a timing belt, rollers, & water pump, as a good starting point for work to start with since it seems that none of that work has been done in ~6+ years. He was also suggesting running a spectral analysis on an oil sample to check for coolant, metal, etc

Would those ideas make sense? Seemed like good ideas to me, but thought I might just toss the ideas out to the group in case there are other things I should be looking for/considering

I'm also working on getting records from the mechanic who has worked on it for about the last 20 yrs to get some clues

I'm still thinking I'm pretty hooked on the idea.. Just time to sharpen the pencil a bit!
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post #8 of 20 Old 09-08-2014, 06:43 PM
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If you are interested in a 1983 308QV send me a PM.
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post #9 of 20 Old 09-08-2014, 07:18 PM
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Don't be too scared off, the 328 WILL go up In value over the next 10 years by double at least. Offer him 38k for the car but don't go over 40 and you will be alright if you plan on owning the car for at least 5 years.
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post #10 of 20 Old 09-08-2014, 08:22 PM
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328

My suggestion would be to hold out and wait until you find an 89. They are the best run of the lot . I would rather spend more money on a later model 328, in good running and looking condition, with documented service records, than buying one from a friend , that seems very questionable, from your description. I was just looking at Hemmings, and was surprised at how high the asking prices were for the 308s and 328 s. Im not sure if thats what they are actually selling for. I bought my 89 in 1999 with 20k miles , for 47,900, and it has been absolutely incredible, with regular maintenance ,and up keep, its running just as good with 94000 miles.as it did with 20,000 . Welcome to the best Ferrari forum on the web,,keep us posted on your quest. Brett Lucca...
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post #11 of 20 Old 09-08-2014, 08:55 PM
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Nice to see the miles piling up, Lucca. You have done well!


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post #12 of 20 Old 09-09-2014, 11:29 AM
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thx

thank you young man !!
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post #13 of 20 Old 09-10-2014, 06:47 AM
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328 is a great car. I would go for a Pre purchase inspection from someone that knows the 328 really well. If you get a good car and take care of it you will do well. The fuel injection system is the same one used on Audi's, Mercedes, VW's of the same vintage. Parts are easy to obtain and there is a lot of knowledge on that Bosch system. No computer in the car to worry about and they are very reliable.

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post #14 of 20 Old 09-16-2014, 06:05 PM
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Drew, I assume the mechanic has not looked at the car? the recommendations he gave are pretty generic. Again, have the car thoroughly looked over by a GOOD ferrari mechanic. Then do the numbers. It would not be out of line to see you dropping 6-9K on this type of car. Do not offer 38K. not worth it. Assuming the body and interior are excellent and the PPI doesn't come up with any disasters, I would offer 30K. Remember, when you go to sell it, it will have north of 70K miles. The number of serious buyers at that mileage is greatly reduced.



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post #15 of 20 Old 09-17-2014, 01:39 AM
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Originally Posted by Brian View Post
As they age these cars get cheaper to buy but they never get cheaper to maintain.
Pure gold Brian. That should be chiseled in stone somewhere.

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post #16 of 20 Old 09-18-2014, 08:48 PM
 
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OMG! i just checked prices on Dupont Registry and i can not believe whats happened to the prices of 328's!!! i should have bought 2 or 3 instead of the F430!!! you 328 owners are darn lucky! Beautiful white 328 Brett! pretty rare to see her in that color.
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post #17 of 20 Old 09-19-2014, 07:56 AM
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OMG! i just checked prices on Dupont Registry and i can not believe whats happened to the prices of 328's!!! i should have bought 2 or 3 instead of the F430!!! you 328 owners are darn lucky!


That's a real mixed bag


First and foremost it succeeds in pricing the cars out of some enthusiasts reach. It also drives up cost of parts and service and they get used less.
The upside is people feel better about and are more inclined to spend some money on them putting them in good condition and since people are willing to spend more, more suppliers are willing to make the investment to reproduce parts. It all comes out to dollar signs really.
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post #18 of 20 Old 09-19-2014, 09:22 AM
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What are people paying for them? I know people are asking a lot but anyone know what they are actually being sold for?

I know a black one sold last month at the RM auction for stupid big money with 10k miles on it. I think around $114k?

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post #19 of 20 Old 09-19-2014, 09:55 AM
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Originally Posted by KKRace View Post
What are people paying for them? I know people are asking a lot but anyone know what they are actually being sold for?

I know a black one sold last month at the RM auction for stupid big money with 10k miles on it. I think around $114k?




Good question and I don't think anywhere near some of the asking prices we are seeing. I know there are quite a few people celebrating with every crazy inflated asking price being published.


If that were the case every guy selling Ferraris in the country would be calling me and everyone with a repair shop looking for available cars and that is not happening.
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post #20 of 20 Old 09-22-2014, 08:49 PM
 
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thats too bad

Well, its too bad that these inflated prices are being advertised. A neighbor and i discussed this topic and i think he has been deterred from joining ownership because of the crazy 328 prices. He is not looking into 360's at those prices and 308's for somewhat less. I'll point out to him that just because they are listed at those prices does not mean they sell at those prices. BUT 114K??????? Oh my...
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