With the kind of money you have now, I would hold out for at least a 430 if not a 460. The early 348's had chain tensioner and cam bearing issues that could be pretty costly. Buying it online is pretty risky. Better to look at that one in West Palm.
And how should those chain tensioner and cam bearing issues still be a problem? Overall 348's are pretty solid cars, more solid than 355's, 360's or 430's.
@Eelco Engelaar it's the earlier 348s that we're a problem. They updated the design in later years. The problem with an auction car is you don't know if those issues were addressed or not.
You did the right thing stopping where you did. It's so easy to get caught up in the bidding fever war that people go crazy and end up paying way too much money for what they want. Good luck in the hunt for the flip car you truly want
Congratulations on NOT overbidding on this car!! I buy and sell watches and it's hard to back down, but you have to be realistic. Can't wait to see what you buy!!
The prices have gone through the roof for those cars! Cars of that nature are just getting more appreciated over time. It’s like Porsche, those are going through the roof as well.
Hey Craig, I'm so happy for your success and your passion for buying and selling cars and teaching others about your craft and all the fun shenanigans along the way!
I was on Ferrari Chat for several years when I was looking for a Ferrari. This was around 2015 through 2017. The 348, especially the first year 1989, was the least desirable of the 3xx series cars. You could find them back then for less than 30k with mint examples around 45k. 355s were about 5 to 10k more. 360s were about 60k to 90k. Testarossas were about 30k to 90k for a mint 512TR. The Testarossas were the real bargain at the time. I would hold out for a 355 if you want an old school toy. Prices are definitely in a bubble now, like housing. I ended up buying a 911. But the way, both the 348 and 355 require periodic engine out service for the timing belt. Figure on about $7k for the belt service.
Craig you have to remember to look at the miles. As I was looking at the prices as you went through it the mileage was consistent with the prices. It had 20k miles and some of the ones under a hundred had 50 to 80k miles. I am not saying it was worth it but you know as I do when the miles are lower the perceived value is going to be more. I hope that you find the Ferrari in Florida for a good price. I want to see you continue to trade up. Good Luck!
IMO the percentage of these cars with wildly inaccurate mileage showing is about half; this was a lease at one point which is a big red flag. Without being there, best to be cautious if you don't have FU money.
Lease is okay, if it was a rental car that would be a red flag. Why not get a 512 TR Koenig Special, Ferrari 488, Mansory edition 812? That transverse v8 is a pita (pain in the assets) to work on.
I saw the original video when it released and it made me subscribe. I haven't kept up with every single video, just popping in on your journey along the way and i can't believe it's finally time! ❤ 🏎🐎
Nice video, 348 is a 5-speed and not the last gated. The spider is the rarest of the regular 348s TB, TS and spider. (not speaking about the special series like GTB,GTS, Challenge, Series Speciale,and the Competizione. In the last couple of years these care have gained popularity.
Been watching your videos since I first started selling cars at a franchise dealer about 4 years ago, fast forward to today and I’m about a week out from opening my own dealership! Your videos have been a huge inspiration for me couldn’t thank you enough! P.s. I’m in the Richmond Virginia area maybe I’ll run in to you at the auction one day!
I kick myself every day for passing on 3 ferrari's. First was a 308GTB could of bought in low 20's in early 2000's. Then 355 for low 50's before covid and last was a 348TB for 35k back in 2018. Feel like world has just gotten stupid with car purchases like did with houses in early to mid 2000"s. If they do come closer to real world prices I be snapping one up for sure but more than likely never will realize my Ferrari dreams now. Love watching series. Keep it up.
This car dropped off around 54G for me. I have purchased many exotics vehicles at auction and the numbers on this one I feel is between 48 and 54G. I factor in what I have had to invest in these vehicles after purchase to actually make them right in my eyes.
I'm glad you backed out because like you said you didn't know anything about service records and those are Extremely important because things like Oil changes are Expensive and Crucial if they weren't done correctly, Definitely better to know as much as you can with a car like that so it doesn't come back and bite you in the wallet.
I subscribed tomyour channel the first episode of this series. I stayed with it until a few months ago because I felt like it was never going to happen amd we were being strung along. I'm glad we are getting some progress on this now and we are going to get to the conclusion...maybe. probability is very low....have to start watching again.
FYI 360 and 430 were also gated. I would highly recommend getting a paddle shift 430 and doing a gated conversion. Should increase the value tremendously, and you'll get good content too. Understand exotic prices have gone up considerably since COVID. For many these are assets, not liabilities. A lot of people went through trauma during covid and it made them realize life is short. Hence you see more people ready and able to purchase these cars. Plus with the electric push, these cars are a dying breed. Therefore they are in demand. I've seen plenty of cars trade for way more than even a year or two ago.
When the bidding started in the $40's, it was a bargain. At $50k, that wasn't bad. Once it started going over $60k that started to seem like all the money for that car. Nice car, but you start questioning if there's still meat on the bone for the next flip. VT247
Manuals are still climbing. You've got the Austin company doing manual conversions of later F1 transmission cars and kits available for a lot of money but when you look at what manual cars are worth (sometimes double), it's worth the sweat equity to buy. But for the 348, there are a LOT of gotchas with this car and the chance that something very expensive is wrong is very high. This isn't a Camry with a couple bumps and worn interior. Some little engine or tranny problem can easily cost you $30k.
When you get your 348 Spider I hope you enjoy it like I did mine (Ferrari Yellow).... I bought it in '94 and got the dealer to ship it back to Modena (at no cost).....drove it around Italy, France and England ....on the QE2 to NYC and drove it back to Vancouver ..and yes is does red line in top......no problems in 4yrs of ownership and trips with the Pacific NW Ferrari Club out of Seattle....great times....it must be driven!!!!!
A bit steep for an unknown quantity; mid fifties all in would leave some room for the inevitable high dollar sorting out process. Personally I'd like to see you save up to 458 money. Don't care how long it takes, the journey is the fun IMO.
Ten years they were selling for 35k. Market has changed. The dealer said red Ferraris are most expensive and valuable. Black ones are the cheapest. I believe that price was more less fair.
You forgot in the mix of comparing comps to take in mind that it is a Gated manual which if I’m not mistaken makes a world of a difference in Ferrari and Lambo world
Yeah, Hoovie just paid a lot to have a Ferrari converted (I don't remember what model). It must be a valuable thing. I know I would get the gated 6 speed over a dual-clutch transmission. If it were a daily or even if I were seriously racing it I might like the dual-clutch but this would be just fun for me so it would have to be the fully manual.
Run away from 348. Engine out service required. Go for a 360, you can service the cam belts with the engine in the car. They're also available in 6 speed manual...
The 348 was not the last of the gated cars ,far from it, ferrari were still making them well into this century...355/360/430/599/612 and some California's could be spec'd with manual ........good you passed on the auction not worth that much hold out for the right car bro.
High-end cars are all about if they have total car history. If you buy a high-end car with all its mechanical and service history. That car can be worth up to 50% more.
Yeah, he's mucked around and bought expensive toys that he didn't make any money on. If he had stuck to $5000 cars he would have done it in a year. He and german went to an auction, I think he gave German a budget of $12K and he bought 3. Craig bought 1. One of germans was a dud, the other two they made something like $7000 profit on, craig sold his for $1000 over what he paid for it at another dealer auction.
The last gated Ferrari is the 430. The 348 and 355 were all manual gated, I am not sure if the F1 was available with the 348 or even the 355. I think the first introduction of the F1-paddles came with the 360 which also was common to be found with a gated shifter, the last was the 430 but they are rare -- many more f1' paddle 430's.
I owned a gated shifter 348ts, a timing Belt car. A Ferrari dealer quoted me $8,500+ for that engine/transaxle/rear subframe out timing belt/tensioner etc service. Count yourself lucky you didn't buy that car for that money and especially not knowing if and when timing belts had been done.
Exactly. The questions he didn't ask scared the hell out of me. Maybe he thought it made a better video to not confuse viewers with details but I was just screaming while watching this dying to know the mileage and maintenance/inspection status. Making newby car buyers think that the only things than matters is the model and year made is going to make some viewers lose a ton of money.
All true experts here on the 348, I see. A dealer quoting you USD8.500 for a timing belt service is just ripping you off. And a pretty handy mecanic can pretty easily do it himself.
Hey Dude, you actually did well for passing on that red garbage Ferrari, that thing seemed to be a trouble car, you will get a better one if you haven’t gotten it by the time you see this message
I believe the 348 has an issue with the fuel lines where they can crack and start on fire. I think this is the model that hoovie had that burned to the ground.
No, that was a F355... And with the right maintenance, the fuel lines shouldn't be a problem. Especially with the 348's and F355's with their engine out services.
Ten years ago you could buy a 328 and 348 in Europe for 30-40k€, today they are over 100k... For us who were born in the early seventies, these are the best and most desirable classic Ferraris, and we can only now enjoy our money… 🇮🇹🚗💨💨💨🇮🇹
In the case of a red Italian Ferrari I believe hiring someone who is an expert in Ferraris and Ferrari resale prices would be well worth the money and help relieve you of any scary scenarios like you just went through
You have to wait until it feels right. If you have that feeling it’s not worth it then it’s not worth it at least to you even if it is to someone else.
It was a Live Appraisal auction. The seller is not even obligated to sell. One of the seller’s buddy’s could have put the high proxy bid in. Live Appraisals are difficult/expensive to try to actually buy the car
Should have kept that red Saleen. It doesn't have the prestige or the handling of the Ferrari, but it's definitely more fun to drive. I almost called you on that car, but I think it was a repaint. I was wondering what happened to the Ferrari challenge. Glad to hear you're getting close. - I've been to that auction. Has to be one of the largest in all of New England.
I think waiting was a good idea. Don't want to be a kid in a candy store. You have done pretty well staying with your gutt and knowledge. Good luck on your adventure and stay safe.
9:33 at ACV can the owner bid on their own vehicle? That's the thing about online auctions, even Ebay. You can have a buddy or another ID bid on your car to boost the sale price. If they "win" you'll be out the auction fees. It's a risk but if you can get $20,000 more on a $1500 bet, that's a risk many would be willing to take.
It isn't a enthusiast market right now after COVID. All of the classic cars that were already a little expensive just shot through the roof... Even the not so classic cars people are charging double what the car originally had for an MSRP like a Honda S2000.. So all of the real enthusiasts with knowledge in their particular car that they're interested in are being smart and not jumping into that market.. Who knows if that market will turn around. Who knows if that market will just keep growing exponentially and never stop. I do understand some people's need to buy a car even if they're overpaying because they believe if they wait any longer. The cars value is just going to keep increasing to where they can't afford it.. Well fellow enthusiasts, I'm glad that all of you have the presence of mind and patience to walk away from cars like this because eventually supply and demand will dictate a very high supply and a low demand and I believe the prices will start coming down to realistic numbers.. The sellers of these cars are absolutely out of their mind with what they are charging for them. As you said, it doesn't mean it's worth what they're asking. It's just what they're charging.. The Achilles heel here is that there are some people in America with so much money that they don't care what the bidding goes to. They will own that car and then it gives the sellers even more confidence to jack up their prices and keep them there.. I had a mint condition 2010 Civic SI with the 2 l Z3 motor. It only had 10,000 miles on it and it was pristine just like it left the dealership.. I contacted a middleman to help me sell the vehicle so I did not have to deal with the hassle and they wanted to post the car for $35,000... I said no No we're not doing that. A reasonable price for this car is $16,000 and I think that may even be high, so let's start there.. And sure enough it took 3 months to sell .. They would get 3 to 5 people showing up every day wanting to take a test drive but my guys were professional. If a potential buyer cannot show you the money then your wasting your time and letting every tom dick and hairy beat the crap out of your car.. They told me it was the most requested car that they have ever sold . They would sometimes get 20 emails a day about it .. The entire 3 months hundreds of people came to see it but it was never driven untill the young man interested in it showed he had the funds to buy it .. They called me and asked if It would be ok with me letting him test drive it and I was great with it .. If you prove you have the money then by all means try it out . He bought it , and I didn't gouge him for it .. I had been waiting on new Shelby GT350 prices to come down to at least MSRP to buy as my next car .. They came out in 2015 and it wasn't untill 2018 that I finally found a dealer online that I worked a deal with .. I had been trying non stop for 3years in every state . Everything said and done out the door for the MSRP price .. They agreed and even though I waited 3 years just to find 1 car that didn't have a 20,000$ dealer markup I was happy I waited it out .. Through the entire production run dealers would tag on no less then 5k dealer markup . I wasn't going to pay it .. Sad thing is now I have 11,000 mi on it and similar cars online are selling for more then the original MSRP used .. I'm glad I got what I wanted , it was worth it to wait for a fair deal.. Had I never found a dealership willing to sell the car for MSRP I would not own one.. So don't get antsy and pay these ridiculous prices. All good things. Come to those who wait. It might take two or three years, but at least you can get a fair deal on what you're looking for.. I also use to collect ww2 rifles and stopped completely bc that market has everything listed so high it's laughable .. The best part is that nothing is selling .. nada almost .. So I wonder how long these price gouges are going to hang on to their price..
If the red 360 is gated then you landed on a goldmine. That is the true last gated manual. Otherwise the f1 transmission is not horrible and will be a fun car to own but now is the time for fun cars so they are definitely getting all the money
Yeah, good you didn’t bid that much, if it was a 355 sure, but high 60s is a lot for the 348, especially in not-perfect condition when from an auction.
Jeezzzzzzzzzz it feels like foreverrrr since this 400$ flip series been going on 😅😅😅 I’m glad you didn’t buy that one though definitely wasn’t worth it especially not seeing it before hand but I think you knew that already 💪🏾💪🏾💪🏾😅😅 let’s go bro down to Florida and let’s see what they got 😈
First of all i'm stunned you didn't already do a thorough market valuation on the car. Next is buying a Ferrari without seeing the service records is foolish. People sell the things at auction right about the time the motor out timing belt service is due. You know there aren't tons of people beating a path to private sellers doors to buy a ferrari. Lot more room for negotiation. Especially for a cash buyer
If you’re going for that look, hold out for the 355. IMO the 360/430 is the perfect V8 Ferrari, and you can get all of them with a gated six
Great discipline Craig, that was the summer time retail red price. 7 owners and the paint overspray were red flags to me. Good luck in Florida.
Your a smart man passing on that car. People get themselves to wrapped up in the bidding and don’t stay logical. Nice to see you did
Especially when you start doing your research 60 seconds before the auction ends.
The auction price was too high and should have been around 58k to 60k.
Craig i think you did the right thing. The car needed recon work as well. jmo
Worth 58k to who😂😂😂😂
Not even close to worth that
It’s a old piece of slow metal
@@jakejonesy9275 it’s the last generation gated 6 speed Ferrari in the 358 variant so the car is probably special to a lot of people.
@@jakejonesy9275 Bit of a silly thing to say "Worth 58k to who" When it went for more than that!
@@jakejonesy9275 if you aren’t a car enthusiast why are you here then?
With the kind of money you have now, I would hold out for at least a 430 if not a 460. The early 348's had chain tensioner and cam bearing issues that could be pretty costly. Buying it online is pretty risky. Better to look at that one in West Palm.
And how should those chain tensioner and cam bearing issues still be a problem? Overall 348's are pretty solid cars, more solid than 355's, 360's or 430's.
@Eelco Engelaar it's the earlier 348s that we're a problem. They updated the design in later years. The problem with an auction car is you don't know if those issues were addressed or not.
You did the right thing stopping where you did. It's so easy to get caught up in the bidding fever war that people go crazy and end up paying way too much money for what they want. Good luck in the hunt for the flip car you truly want
Congratulations on NOT overbidding on this car!! I buy and sell watches and it's hard to back down, but you have to be realistic. Can't wait to see what you buy!!
The prices have gone through the roof for those cars! Cars of that nature are just getting more appreciated over time. It’s like Porsche, those are going through the roof as well.
Hey Craig, I'm so happy for your success and your passion for buying and selling cars and teaching others about your craft and all the fun shenanigans along the way!
I was on Ferrari Chat for several years when I was looking for a Ferrari. This was around 2015 through 2017. The 348, especially the first year 1989, was the least desirable of the 3xx series cars. You could find them back then for less than 30k with mint examples around 45k. 355s were about 5 to 10k more. 360s were about 60k to 90k. Testarossas were about 30k to 90k for a mint 512TR. The Testarossas were the real bargain at the time. I would hold out for a 355 if you want an old school toy. Prices are definitely in a bubble now, like housing. I ended up buying a 911. But the way, both the 348 and 355 require periodic engine out service for the timing belt. Figure on about $7k for the belt service.
Craig you have to remember to look at the miles. As I was looking at the prices as you went through it the mileage was consistent with the prices. It had 20k miles and some of the ones under a hundred had 50 to 80k miles. I am not saying it was worth it but you know as I do when the miles are lower the perceived value is going to be more. I hope that you find the Ferrari in Florida for a good price. I want to see you continue to trade up. Good Luck!
IMO the percentage of these cars with wildly inaccurate mileage showing is about half; this was a lease at one point which is a big red flag. Without being there, best to be cautious if you don't have FU money.
Lease is okay, if it was a rental car that would be a red flag. Why not get a 512 TR Koenig Special, Ferrari 488, Mansory edition 812? That transverse v8 is a pita (pain in the assets) to work on.
The 308/328 will always be my favorite Ferraris. Maybe I watched too much Magnum PI when I was younger.
That game is called OutRun
Wow, what an amazing journey you're taking us on!
Spending that amount of scratch necessitates an eyes on inspection.
ACV has been my go-to for a long time now.
I saw the original video when it released and it made me subscribe. I haven't kept up with every single video, just popping in on your journey along the way and i can't believe it's finally time! ❤ 🏎🐎
Nice video, 348 is a 5-speed and not the last gated. The spider is the rarest of the regular 348s TB, TS and spider. (not speaking about the special series like GTB,GTS, Challenge, Series Speciale,and the Competizione. In the last couple of years these care have gained popularity.
If the deal doesn't make you smile, walk away. Emotions are the enemy at auctions.
Been watching your videos since I first started selling cars at a franchise dealer about 4 years ago, fast forward to today and I’m about a week out from opening my own dealership! Your videos have been a huge inspiration for me couldn’t thank you enough!
P.s. I’m in the Richmond Virginia area maybe I’ll run in to you at the auction one day!
I kick myself every day for passing on 3 ferrari's. First was a 308GTB could of bought in low 20's in early 2000's. Then 355 for low 50's before covid and last was a 348TB for 35k back in 2018. Feel like world has just gotten stupid with car purchases like did with houses in early to mid 2000"s. If they do come closer to real world prices I be snapping one up for sure but more than likely never will realize my Ferrari dreams now. Love watching series. Keep it up.
This car dropped off around 54G for me. I have purchased many exotics vehicles at auction and the numbers on this one I feel is between 48 and 54G. I factor in what I have had to invest in these vehicles after purchase to actually make them right in my eyes.
I'm glad you backed out because like you said you didn't know anything about service records and those are Extremely important because things like Oil changes are Expensive and Crucial if they weren't done correctly, Definitely better to know as much as you can with a car like that so it doesn't come back and bite you in the wallet.
I subscribed tomyour channel the first episode of this series. I stayed with it until a few months ago because I felt like it was never going to happen amd we were being strung along. I'm glad we are getting some progress on this now and we are going to get to the conclusion...maybe. probability is very low....have to start watching again.
Awesome show Thanks. 😊
So I checked your website and…yeah stuff id buy too 😎
All the cars are outrageous today! Trucks with 100k mileage are $28k, shorty cars with 120 mileage are over 10k it’s loooney time times.
2 years in the making, im excited to see what you end up getting
Wise to pass at that price. I can't believe that was a wholesale site!
Goes to show you don't have to be smart to get a dealers license!
I thought this day would never come. I'm excited for the next video !!!
OUTRUN was the game !!!
FYI 360 and 430 were also gated. I would highly recommend getting a paddle shift 430 and doing a gated conversion. Should increase the value tremendously, and you'll get good content too.
Understand exotic prices have gone up considerably since COVID. For many these are assets, not liabilities. A lot of people went through trauma during covid and it made them realize life is short. Hence you see more people ready and able to purchase these cars. Plus with the electric push, these cars are a dying breed. Therefore they are in demand. I've seen plenty of cars trade for way more than even a year or two ago.
When the bidding started in the $40's, it was a bargain. At $50k, that wasn't bad. Once it started going over $60k that started to seem like all the money for that car. Nice car, but you start questioning if there's still meat on the bone for the next flip.
VT247
Manuals are still climbing. You've got the Austin company doing manual conversions of later F1 transmission cars and kits available for a lot of money but when you look at what manual cars are worth (sometimes double), it's worth the sweat equity to buy. But for the 348, there are a LOT of gotchas with this car and the chance that something very expensive is wrong is very high. This isn't a Camry with a couple bumps and worn interior. Some little engine or tranny problem can easily cost you $30k.
When you get your 348 Spider I hope you enjoy it like I did mine (Ferrari Yellow).... I bought it in '94 and got the dealer to ship it back to Modena (at no cost).....drove it around Italy, France and England ....on the QE2 to NYC and drove it back to Vancouver ..and yes is does red line in top......no problems in 4yrs of ownership and trips with the Pacific NW Ferrari Club out of Seattle....great times....it must be driven!!!!!
A bit steep for an unknown quantity; mid fifties all in would leave some room for the inevitable high dollar sorting out process. Personally I'd like to see you save up to 458 money. Don't care how long it takes, the journey is the fun IMO.
That was a 19,000 mile gated car. You were not going to steal it.
Ten years they were selling for 35k. Market has changed. The dealer said red Ferraris are most expensive and valuable. Black ones are the cheapest. I believe that price was more less fair.
You forgot in the mix of comparing comps to take in mind that it is a Gated manual which if I’m not mistaken makes a world of a difference in Ferrari and Lambo world
Yeah, Hoovie just paid a lot to have a Ferrari converted (I don't remember what model). It must be a valuable thing. I know I would get the gated 6 speed over a dual-clutch transmission. If it were a daily or even if I were seriously racing it I might like the dual-clutch but this would be just fun for me so it would have to be the fully manual.
Good point Johnathan
Run away from 348. Engine out service required. Go for a 360, you can service the cam belts with the engine in the car. They're also available in 6 speed manual...
The 348 was not the last of the gated cars ,far from it, ferrari were still making them well into this century...355/360/430/599/612 and some California's could be spec'd with manual ........good you passed on the auction not worth that much hold out for the right car bro.
High-end cars are all about if they have total car history. If you buy a high-end car with all its mechanical and service history. That car can be worth up to 50% more.
Has 2 years passed since you started this $400 Ferrari flip? I remember the first video when you began the flip.
Yeah, he's mucked around and bought expensive toys that he didn't make any money on. If he had stuck to $5000 cars he would have done it in a year. He and german went to an auction, I think he gave German a budget of $12K and he bought 3. Craig bought 1.
One of germans was a dud, the other two they made something like $7000 profit on, craig sold his for $1000 over what he paid for it at another dealer auction.
I think you made the right call passing on this one. Hopefully you get the right one tomorrow
The last gated Ferrari is the 430. The 348 and 355 were all manual gated, I am not sure if the F1 was available with the 348 or even the 355. I think the first introduction of the F1-paddles came with the 360 which also was common to be found with a gated shifter, the last was the 430 but they are rare -- many more f1' paddle 430's.
Sometimes the best deals are the ones you don't do. Right to walk away IMHO
I really like these vids. Like lots of other people I’m a big car guy so I love the concept of the $400 Ferrari and hearing about your dealership
I Love that you have got to this point. I have a few projects, maybe i'll try something similar.
The game was called Outrun here in England
In my opinion theyre worth 50-60, when i saw it go to 70 i was simply shocked
cruising USA is the name of the game
Most of us have no idea what a good deal on a Ferrari would be.
I pumped so many quarters into that video game.
I owned a gated shifter 348ts, a timing Belt car. A Ferrari dealer quoted me $8,500+ for that engine/transaxle/rear subframe out timing belt/tensioner etc service. Count yourself lucky you didn't buy that car for that money and especially not knowing if and when timing belts had been done.
Exactly. The questions he didn't ask scared the hell out of me. Maybe he thought it made a better video to not confuse viewers with details but I was just screaming while watching this dying to know the mileage and maintenance/inspection status. Making newby car buyers think that the only things than matters is the model and year made is going to make some viewers lose a ton of money.
All true experts here on the 348, I see. A dealer quoting you USD8.500 for a timing belt service is just ripping you off. And a pretty handy mecanic can pretty easily do it himself.
Hey Dude, you actually did well for passing on that red garbage Ferrari, that thing seemed to be a trouble car, you will get a better one if you haven’t gotten it by the time you see this message
Cruis’n USA was a great arcade game.
The game you attempted to reference was Cruisin usa
Man, the older I get and the less I care about other people or what they think, the less appealing any car is now.
This series always gets me hyped holyyyyy shii
The game your thinking about is OUTRUN. 🇬🇧👍
The gated shifter brought the price up but everything inflated in this economy..
Oh yea as always Albany is definitely in here 💯
I believe the 348 has an issue with the fuel lines where they can crack and start on fire. I think this is the model that hoovie had that burned to the ground.
No, that was a F355... And with the right maintenance, the fuel lines shouldn't be a problem. Especially with the 348's and F355's with their engine out services.
Ten years ago you could buy a 328 and 348 in Europe for 30-40k€, today they are over 100k... For us who were born in the early seventies, these are the best and most desirable classic Ferraris, and we can only now enjoy our money…
🇮🇹🚗💨💨💨🇮🇹
In the case of a red Italian Ferrari I believe hiring someone who is an expert in Ferraris and Ferrari resale prices would be well worth the money and help relieve you of any scary scenarios like you just went through
You didn't mention the fact that the car had less than 20k on it. That makes it more valuable than all the others.
Calling that audi a super car is kind of a stretch.
Wait on the Ferrari. Everything used is way over inflated. Very few eBay cars are selling. People simply won’t buy a 2000 single-cab Chevy for $25k.
The 348 is the last of the best ‘cheep’ Ferrari. Prices are catching up with the 355.
Your car is out there, and I'm sure it will find you. I totally agree with everyone else, you definitely did the right thing, and let it go.
great stuff thanks
You have to wait until it feels right. If you have that feeling it’s not worth it then it’s not worth it at least to you even if it is to someone else.
"When in doubt, say no ... Sometimes it helps to acknowledge the time and the energy you invest in what matters most and to let go of all the rest."
You dodged a bullet there Craig, sight unseen no way.
7 owners? Even a 30 year old car, that's too many. Good call
Perfectly normal
Common with exotics.
Still makes it a run out turd. Needs a a major service, sell it.
You don’t know what you’re talking about Josh
It was a Live Appraisal auction. The seller is not even obligated to sell. One of the seller’s buddy’s could have put the high proxy bid in. Live Appraisals are difficult/expensive to try to actually buy the car
Should have kept that red Saleen. It doesn't have the prestige or the handling of the Ferrari, but it's definitely more fun to drive. I almost called you on that car, but I think it was a repaint. I was wondering what happened to the Ferrari challenge. Glad to hear you're getting close. - I've been to that auction. Has to be one of the largest in all of New England.
Over pay to end this series. Then start a new one. Flip $500 to Freightliner, Or $100 to a helicopter.
Craig needs an airplane hangar for all his toys.
I think waiting was a good idea. Don't want to be a kid in a candy store. You have done pretty well staying with your gutt and knowledge. Good luck on your adventure and stay safe.
You should check with fellow TH-camr Eurasian Bob , he finds the rare rest of the rare in mint shape
9:33 at ACV can the owner bid on their own vehicle? That's the thing about online auctions, even Ebay. You can have a buddy or another ID bid on your car to boost the sale price. If they "win" you'll be out the auction fees. It's a risk but if you can get $20,000 more on a $1500 bet, that's a risk many would be willing to take.
Cruisin USA was the game!! lol
Watch your channel never miss an episode! Did you really wait until you started bidding to do that research or was that just for content?
I did.
Outrun was the video game title
It isn't a enthusiast market right now after COVID. All of the classic cars that were already a little expensive just shot through the roof... Even the not so classic cars people are charging double what the car originally had for an MSRP like a Honda S2000.. So all of the real enthusiasts with knowledge in their particular car that they're interested in are being smart and not jumping into that market.. Who knows if that market will turn around. Who knows if that market will just keep growing exponentially and never stop. I do understand some people's need to buy a car even if they're overpaying because they believe if they wait any longer. The cars value is just going to keep increasing to where they can't afford it..
Well fellow enthusiasts, I'm glad that all of you have the presence of mind and patience to walk away from cars like this because eventually supply and demand will dictate a very high supply and a low demand and I believe the prices will start coming down to realistic numbers..
The sellers of these cars are absolutely out of their mind with what they are charging for them. As you said, it doesn't mean it's worth what they're asking. It's just what they're charging..
The Achilles heel here is that there are some people in America with so much money that they don't care what the bidding goes to. They will own that car and then it gives the sellers even more confidence to jack up their prices and keep them there..
I had a mint condition 2010 Civic SI with the 2 l Z3 motor.
It only had 10,000 miles on it and it was pristine just like it left the dealership.. I contacted a middleman to help me sell the vehicle so I did not have to deal with the hassle and they wanted to post the car for $35,000... I said no No we're not doing that. A reasonable price for this car is $16,000 and I think that may even be high, so let's start there.. And sure enough it took 3 months to sell .. They would get 3 to 5 people showing up every day wanting to take a test drive but my guys were professional. If a potential buyer cannot show you the money then your wasting your time and letting every tom dick and hairy beat the crap out of your car.. They told me it was the most requested car that they have ever sold . They would sometimes get 20 emails a day about it .. The entire 3 months hundreds of people came to see it but it was never driven untill the young man interested in it showed he had the funds to buy it .. They called me and asked if It would be ok with me letting him test drive it and I was great with it .. If you prove you have the money then by all means try it out . He bought it , and I didn't gouge him for it ..
I had been waiting on new Shelby GT350 prices to come down to at least MSRP to buy as my next car .. They came out in 2015 and it wasn't untill 2018 that I finally found a dealer online that I worked a deal with .. I had been trying non stop for 3years in every state . Everything said and done out the door for the MSRP price .. They agreed and even though I waited 3 years just to find 1 car that didn't have a 20,000$ dealer markup I was happy I waited it out ..
Through the entire production run dealers would tag on no less then 5k dealer markup . I wasn't going to pay it ..
Sad thing is now I have 11,000 mi on it and similar cars online are selling for more then the original MSRP used ..
I'm glad I got what I wanted , it was worth it to wait for a fair deal.. Had I never found a dealership willing to sell the car for MSRP I would not own one.. So don't get antsy and pay these ridiculous prices. All good things. Come to those who wait. It might take two or three years, but at least you can get a fair deal on what you're looking for..
I also use to collect ww2 rifles and stopped completely bc that market has everything listed so high it's laughable .. The best part is that nothing is selling .. nada almost .. So I wonder how long these price gouges are going to hang on to their price..
I think the arcade game was called Out Run!!
If the red 360 is gated then you landed on a goldmine. That is the true last gated manual. Otherwise the f1 transmission is not horrible and will be a fun car to own but now is the time for fun cars so they are definitely getting all the money
Yeah, good you didn’t bid that much, if it was a 355 sure, but high 60s is a lot for the 348, especially in not-perfect condition when from an auction.
I’d go for the Ferrari FF ( I prefer hatchbacks and wagons).
I'd like an FF for a winter car
You had us at red Ferrari!
Annndddd. There's a sucker born every minute.
Way yo go Craig...Buying one in Florida you can See and drive... much better.... Btw... Maintenance will be a beast.... Good Luck 👍
It was scary and sketchy…keep looking…DD is key
you made the right choice due your home work first then buy dont buy on unknow.
Interesting auction, you missed out paying retail. It seems that the CV craziness hasn’t quite left us…
Jeezzzzzzzzzz it feels like foreverrrr since this 400$ flip series been going on 😅😅😅 I’m glad you didn’t buy that one though definitely wasn’t worth it especially not seeing it before hand but I think you knew that already 💪🏾💪🏾💪🏾😅😅 let’s go bro down to Florida and let’s see what they got 😈
Just saw one of your red Ferraris in Sandown on my way to school! It looks like it might need a head gasket..
First of all i'm stunned you didn't already do a thorough market valuation on the car. Next is buying a Ferrari without seeing the service records is foolish. People sell the things at auction right about the time the motor out timing belt service is due. You know there aren't tons of people beating a path to private sellers doors to buy a ferrari. Lot more room for negotiation. Especially for a cash buyer
Ferrari is a pretty car. Nice if your trying to impress your neighbors
Service is probaly a eye opener.
50k tops for me.
I bad boys 2 the used the capristo exhaust from that Ferrari. It’s worth every penny
Smart move bud. Online Auctions always sell for more, you get caught up in "the moment" and your brain goes out the window.