We have had a lot of interest and questions in regards to purchasing a used Ferrari 328 and I thought it would be helpful to outline a few of the key things I consider when I am looking at this particular model. There are three key things I look at when I am purchasing a 328, first, determine the value, next, establish the pedigree, and last, analyze previous Ferrari service. In this article, I am going to outline how I determine the value of Ferrari’s 328.
First, it is important to have a little bit of background on this model. The Ferrari 328 is the successor to the 308 and was produced from 1986 to 1989. The car is said to be a little more user-friendly, a little more drivable, and a little more technologically advanced than the 308. The Ferrari 328, also like the 308, came in two different model variations, the GTS and the GTB; the GTS is the Targa roof and the GTB is the hardtop roof. Ferrari produced about 7,000 328s over that three year time period, and they made five GTSs for every GTB made. This obviously makes the GTB much rarer, and in a lot of cases, it will make it more valuable, which is going to be very important to know if you are buying a used 328. The car was produced very similarly from 1986 to 1989, except in late 1988 Ferrari started adding ABS breaks, and in doing this they had to make changes to the wheels. This change is where the concave and convex wheels came into play. Therefore, 328’s that were manufactured in the mid to late 1988 to 1989 are all equipped ABS. Now that you have a little bit of background, let’s talk about what you need to look for when selecting your 328.
As I mentioned, there are three things to look at when buying a 328 and we are going to look at the first one, entry price, in more detail. First, you have to know how much you should pay for this Ferrari and in order to do so, you need to first determine what it is you are getting. Will you be getting a GTS or GTB model? Will you be buying an early 1987 or late 1989 with the ABS? How many miles are acceptable to you? What condition 328 are you looking for, is a scratch okay, or does it need to be show-worthy? And finally, how will all of these things factor into the cost of the car.
First, let’s consider the different options the Ferrari 328 has and how they will affect the cost of the car. As mentioned, there were much fewer GTBs produced so this model will bring a premium as compared to the GTS. Some people prefer the earlier cars over the ABS so sometimes the premiums will help offset the newer car vs. being an older car.
Second, and one of the most important things to look at when evaluating the 328 is to look at the condition of the car, especially the interior. A great example is the first 328 that I bought. It was a 1989 that was supposed to have 15,000 miles on it and when it came in, the interior looked like someone had been living in it. The entire car had been painted by who knows because it was clearly not done by a professional. As you can imagine this greatly affected the value of the car, and this was a very costly lesson for us.
The other two purchasing factors, pedigree, and Ferrari service, we will look at in further detail in our next article because there is so much that goes into these two items that could dramatically affect the cost of the car. However, before you address these items be sure you have determined the value based on the options of the 328 and how these options factor into the economics in the Ferrari market.
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