Join Date: Dec 2014
Location: Cars located in Alberta
Ferrari Life Posts: 296
Fair Value for 1993 Ferrari 348 Speciale?
A 1993 Ferrari 348 Speciale that was auctioned recently in Toronto, Canada, and not sold at a high bid of $54,000 CAD ($45,000 USD). I'm guessing that the reserve bid was about $80,000 CAD (66,000 USD) since that was the asking price before it went to auction.
This 348 Speciale has 139,000 km (87,000 miles), has the factory owners and service manuals, and tool kit. There were no service records available at the auction and the car's history was not published.
There were only 110 produced , although there about 1,654 made during the 4 years of production.
Model Year(s) Production
348 Spider 1993-1995 1,090
348 Speciale 1992-1994 115
348 GTB 1993 252
348 GTS 1993 137
348 GTC 1994 50
Since I did not see the car, I cannot describe its condition, although there are several photos in the above web sites, but none showing the engine or specific details.
Since there is a large gap between the high bid and estimated reserve bid, I'm assuming the auction attendees correctly established the price, with one reservation. That is, a Ferrari model's rarity is typically highly valued and defined by the model's production numbers. At only 115 produced, the 348 Speciale is a rare model. So did the auction audience miss something here or is this 348 Speciale "not so special" and the high bid of $54,000 CAD ($45,000 USD) was appropriate based on the available information?
1999 Ferrari 550 Maranello FHP; 1999 Ferrari 456M GT; 1996 Buick Riviera; 2008 Bentley GT; 2010 Lotus Evora; 1969 Alfa Romeo 1750 GTV;
Past cars: 1965 Corvette Stingray Roadster; 1974 Corvette Stingray.