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Ferrari-the Ultimate classic (Ferrari Lovefest Topic)

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  • Give a call to Michael Sheehan in LA. Website is www.ferraris-online.com. He's highly opinionated but he knows Ferraris inside and out, also races them, and he's no romantic about them---he's very sober and he'll give you advice that will allow you to make an informed decision IMO.

    Prices for any used modern Ferrari are HEAVILY dependent on:

    1. Mileage. Miles that are "nothing" to a Porsche's value can be crippling to a Ferrari's value. Anything over 30,000 miles and the depreciation curve gets very steep.

    2. Service records. Not what the owner SAYS, but actual records of services done. No records = much lower value and much lower resale

    3. Car's known history. Do NOT rely on CARFAX to tell you if the Ferrari you are thinking of buying wasn't wrapped around a pole. It's a good first start, but you should be able to trace the car's history from owner to owner and be able (hopefully) to interrogate the owner or the owner's representative about the car.

    4. Inspection! Even something as seemingly minor as an oil leak can translate into a large repair bill. Remember, fan belts are $100 bucks a pop on these cars, and brakes and rotors all around, or a new clutch---that can sting. So a thorough inspection is money well well spent.

    There is no used Ferrari shortage last time I looked. So take your time and talk to people who know these cars.
  • andys120andys120 Loudon NHPosts: 16,395
    I hope not but I was struck by the relative paucity of Italian Exotica at the Phoenix/Scottsdale auctions this week. Shelbys of all kinds abounded but I saw perhaps three or four Ferraris on the block. :confuse:
  • Wrong place to find Ferraris -- at Scottsdale. Besides, buying a modern Ferrari at auction is pretty reckless unless you actually know the car. There's lots of shady goings-on at these auctions..."the waters are filled with sharks".
  • I've just posted some photos and comments on the Ferrari Enzo that was part of a collection I appraised recently.

    http://www.carspace.com/mr_shiftright

    If you haven't joined carspace yet, please do and let me know when you're "on" and we can link up there and swap Ferrari photos.
  • Good advice, although 30,000 miles on a 360 is lot different than 30,000 miles on a Daytona.

    Depending on which Ferrari you're looking for, Steve Barney at Sport Auto in NC might be a better bet than Sheehan. Sheehan is the man if you need a 250 SWB for Pebble Beach. Steve's the guy if you want a Ferrari to actually drive.

    And belts and hoses aren't bad, in my experience. I just replaced a $9 coolant hose. However the labor to install a new timing belt can involve engine removal, holy water and a blessing from the pope.

    But there's nothing like a Ferrari. I've all but forgotten about my ex-911, BMW and Benz.
  • Yep, that is a fact.....there is nothing like a Ferrari, which is why people put up with them...you can't duplicate the experience, period.

    I have to say though, that the Enzo seemed a bit "tame" in terms of ease of driving and sound...I'm sure the car can go way faster than my capabilities, but still, it's such a gentleman compared to the older Ferraris.
  • andys120andys120 Loudon NHPosts: 16,395
    A little late for this aren't we? The Turkish GP was months ago and in fact the 2007 F-1 season is over with Kimi Raikkonnen of Ferrari capturing the WDC and Ferrari taking the Constructor's Championship, thanks to McLaren losing all their points as a result of the court decision in the Stepneygate scandal.

    Raikkonnen's WDC is subject to another court decision on McLaren's protest following the Brazilian GP. It's as much about lawyer's and judges as it is about drivers and engineers. ;)

    BTW your link is bad.
  • I need help for a business project identifying this vehicle. A colleague suggested Ferrari but I cannot verify. Anybody out there who can identify this vehicle? I don't see a way to attach the image in this field (adding a discussion) so please look for an image in my next post).
  • andys120andys120 Loudon NHPosts: 16,395
    Surelet us have a look at it, we can probably tell if it's a Ferrari.
  • Thanks. I circulated the photo at work and someone identified it as a TVR Chimaera. All I had in the photo was the front lamp and a little bit of hood. But that make and model checked out and so I've got what I need. Thanks.
  • For those dying of curiosity, here's a photo of one. Doesn't look very Ferrari-esque to me, more like a knock off of a Dodge Viper:

    image

    Probably if you just saw the headlights and not the rather awkward parking light arrangement and the rear of the front fender, you might think Ferrari

    Not bad looking...a little fussy....
  • I am planning to buy Ferrari 360 maybe 2004 or 2003 model, i want to know if someone knows in dollar amount if possible how much its costs for normal service or oil change. I just want to make sure that i am making a right decision and have enough funds to service it.
    Bactium
  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648
    edited August 2010
    Well that would depend a lot on *past* service history and the mileage on the car--but if you want a very rough estimate of maintenance costs, probably $1.50 per mile is about right.

    You should consult with a Ferrari shop prior to purchase---first of all, you're going to need to locate one *before* you buy the car, since without a reputable Ferrari facility, you are out in the cold. Last thing you want is someone "claiming" to be a Ferrari mechanic, without the proper training and tools.

    Once the shop has laid out for you what to expect in terms of your future *major* services (usually Ferrari requires a big service at 30K, which will cost $3,000 to $6000 dollars). Many sellers of used Ferraris like to bail out just before these major services are due---leaving YOU with no chair to sit on once the music stops.

    Also you'll need to have the job give the car a thorough going over prior to purchase.

    Keep in mind also that high mileage Ferraris suffer enormous depreciation, and some Ferrari people contend that a 60,000 mile Ferrari is worth no more than a parts car.

    So you'd best do your homework not only on service costs, but on the current market price for 360s as it relates to the mileages on the car. The rule is "whatever gets you into a Ferrari cheaper, will come back to haunt you when you service or sell".

    Modern Ferraris can be wonderful, practical, reliable automobiles, but you do have to go in with eyes open. If you don't buy the right car, and be really fussy, you can end up with a ruinous purchase.
  • Im looking to see if anyone would estimate the value of my car. Its a 1994 348 spider , pristine , with unheard of 2400 miles.., Any help is appreciated
  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648
    edited September 2010
    hard to say exactly without reviewing service records (low miles on a Ferrari are not necessarily a good thing) but something like $40K--$55K seems about right in today's market as a starting point. If it's been kept up and refreshed, that's good (keep all your receipts). If it's been sitting dormant for ten years, that's not so good with regards to value.

    Here's a good comp, with 18,000 miles, listed for $41,000. Hope that helps.

    348 Spider on eBay
  • andys120andys120 Loudon NHPosts: 16,395

    I went to several of the Scottsdale Auto Auctions this week, purely as a spectator. There were lots of spectacular and rare cars there and plenty of Ferraris both old and new.

    Yesterday I had a look at this one>

    The photo does not do the car justice, it was just gorgeous and looking at the year of manufacture, 1998 I could not help but think "Has it really been 15 years since they made a really good-looking Ferrari"?

  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648
    edited January 19

    Pretty car but you probably don't want one---they had a lot of teething problems. A 360 is mo' bettah and much less expensive to service. An engine rebuilt on a 355 can run you $40,000, no problem, which is 2/3rds the value of the car.

  • andys120andys120 Loudon NHPosts: 16,395

    A Ferrari 250GT California LWB Spider sold for $8.8 million @ the RM Auction in Scottsdale last week. The huge price was no surprise to experts who consider "Enzo era" Ferraris the cream of the vintage car market.

    A few years ago, Ferrari decided to use the storied California name for a new model which IMO was a huge mistake. If you had it would you spend almost $ 9million on this>

    ...or this?>

  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648

    they had a lot of engine troubles with the new California.

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