So I found an old Ferrari and was wondering if any of you guys could give me an estimate as to how much the guy would sell it for, if he wants to sell it. Its a late 70's Ferrari or early, early 80's but I can't tell what it is. It looks like a 77 308 GTB but I'm not sure if that's what it is. It's been sitting for a LONG time with no cover. I doubt if it works and it's been tortured by the elements. With the quick glance I saw it was not rusted but again, I dont know. Body still in tact, couldnt see the interior. Do any of you know how much it would go for? Thanks!

-Sam

 

Unless you have very deep pockets, run away. Run far away.

Picking up a Ferrari cheap is actually the expensive way to buy an old Ferrari. Restoration costs are crazy on these things, even one as (relatively) inexpensive and common as the the 308/328 cars were. You are much, much better off buying a well maintained Ferrari than one in dire need of help.

I've had the opportunity to speak with many, many exotic car owners and regularly read horror stories in Keith Martin's Sports Car Market magazine - sort of the expert guide to exotic and rare car collecting and investing. They cover all the auctions, track pricing history, etc. These guys have a very good handle on what's good and what isn't, on what you should and shouldn't do when buying this type of car.

If you've ever watched a Barrett-Jackson, RM, Russo & Steele or Gooding & Co. auction you will commonly hear, right after the hammer drops on a recently redone vehicle, "you couldn't restore that car for double the money".

 

i would agree with mike on this. i once had a inkling to get a '80s 308s - the magnum pi version. i spoke to a local guy here who had a testerossa and he said maintenance on these are a bear. the 308s need the engine removed to do most of the standard service at somewhere between $3K-$6K. the carburetor models are faster but harder to keep in tune. back then, you could get a nice specimen for low $20ks with low mileage and excellent maintenance but driving it would be expensive due to maintenance. i decided to say away.

 

I see. Yea I love the Magnum P.I. Ferrari. I know they are extremely expensive to maintain/restore. I've been looking for a project car, and I just stumbled onto this car. Do you guys know how much he would ask for it though?

-Sam

 

What he would ask is partly going to be based on what he thinks it's worth - "hey, it's a Ferrari, I won't take less than $30,000 for it regardless of condition". There are currently several late '70s/early '80s Ferrari 308GTB/GTS/GT4s with asking prices from the mid $20k to mid $30k range. Most appear to be in fairly decent shape, but taking a beater to the same condition could actually cost you almost double that - plus the cost of the beater in the first place. If you're looking for a fun project and like Italian cars, you're probably better off with an older Alfa Romeo like this one on ebay: Alfa Romeo : Giulia Spider VELOCE:eBay Motors (item 170384923069 end time Sep-26-09 09:23:30 PDT)

Honestly, I'd love to have one of these little beauties: Alfa Romeo:eBay Motors (item 140346623392 end time Sep-24-09 04:43:19 PDT) If I were to give up my Crossfire it would be for either an old Alfa or maybe a Lotus Europa.

Of course, if I won the Lotto I'd pick up one of these babies. I've never seen pictures that do this car justice - in the flesh it redefines "stunning" Alfa Romeo:eBay Motors (item 180409428132 end time Sep-28-09 18:02:28 PDT)

 

Haha, most definetly the 08-09 Alfa Romeo 8C is an amazing car. Not only that, it is quite rare. Haven't seen one if black, very nice! I would defiently take one over a Porsche. Love Porsches, but they are everywhere. As for the project car, I'm still looking for one, not necessarily Italian, but American muscle as well, so the look continues. Well, thanks for the info Mike and eruby. I'll let you guys know when I talk to the guy what he tells me.

-Sam

 

So guys,

Went back to the guy with the Ferrari and get this, it's a customer's car! This car has easily been sitting for a couple of years and he told me all the cars on the lot are customers cars waiting to be restored. He is an Italian service shop and all the cars are 60-80's Alfa Romeos, Maseratis, and that one Ferrari. All seem like they've been sitting for several years. That Maserati was beastly looking. My quest for a project car continues haha.

-Sam