These 9 Ferraris are either on the rise or still relatively affordable
Few people are able to use the words “Ferrari” and “affordable” in the same sentence, but Maranello has indeed produced a number of sports cars that are easier on the wallet than you might expect.
A panel of experts discussed some of those “affordable” gems in a recent Hagerty seminar, at the 54th annual Ferrari Club of America International Meet in Corning, New York. Panelists included Dave Kinney, car collector and the publisher of the Hagerty Price Guide; Tom Yang, a noted Ferrari restorer and mechanical expert; renowned detailer Tim McNair, owner of Grand Prix Concours Preparation; and Stephan Markowski, of RPM Motors in Vermont.
The panelists brought their own Ferrari ownership experiences into the mix. Kinney has a 612 Scaglietti, Yang is still driving the 1963 330 GT America he’s owned for 20 years, Markowski brought along his slightly hot-rodded 1975 308 GT/4, and McNair has been over and under every type of Ferrari you could imagine. Obviously “affordable” means different things to different people, particularly in the world of Ferrari. So keep in mind that we’re talking in relative terms–a few of these cars are already expensive. That said, let’s dive in.
Ferraris on the rise
Ferrari 330 GT 2+2
Ten years ago, you could buy a 330 GT 2+2 grand touring car for $65,000. Today a #2 (Good) condition Series II is normally in the $280,000 range, a pretty huge jump. But it could go higher. Everyone noted that most any 12-cylinder Ferrari is special, and long gone are the days when people would buy these cars only to put the V-12 into a more valuable model. Could this still represent a buying opportunity? The panelists thought so.
Ferrari 400 and 412
The grand touring V-12 parade continued with Ferrari 400 and 412. The panelists agreed that these cars are going to continue to rise in value. Time has been kind to this design, and people tend to see the wedgy shape and say, “Hey, why didn’t I like about these before?” Both can be found between low $30K and low $40K, with a premium for the more-desirable five-speed manual transmission. There was a time when maintenance was likely deferred on these cars, so get those service records. These are very capable and powerful cars and values will continue to rise as collectors get over this car’s old stigma and accept it as a legitimate stablemate to the other prancing horses.
Ferrari 308 GTB and GTS
Another Ferrari rising in value are the carbureted 308 GTB and GTS models. There’s something about that little 2.9-liter V-8 with its quartet of carburetors that people find more appealing (and valuable) these days. In the last 10 years, the 308s have risen from around $31K to more than $114K for a #2-condition car. I’ll admit, after driving a carbureted 308 back-to-back against my injected version, there is a difference. The carbureted 308s offer an experience that’s a little more raw than the injected versions. They sound better, too.
Ferrari 275 and 330 GTS
The 275 and 330 GTS, have erupted in value during the past decade or so. In the early 2000s you could buy one in the $125,000 range, and now they’re in a different realm. The 1966 275 GTS, for example, has seen recent sales from $1.6M–$2M. That’s a wee bit of appreciation. As someone who’s been involved in selling these models for a while, Markowski was particularly adamant that this car be on the list.
Ferrari Dino 308 GT4
In a bit of a surprise to the seminar audience, last in the “remember when” section of the seminar: the early Dino 308 GT4. The design of this model was an outlier for Ferrari, which used the Bertone styling house instead of Pininfarina. These cars were wider than the later 308s and had a small 2+2 capability, longer wheelbase, and more luggage capacity. Why did they remain unloved for so long? In today’s light, they are outstanding cars and a better choice for many American-sized drivers. The Dino 308 GT4 has the same 2.9 liter V-8 as the later carbureted cars, same five-speed transmission, and the same sounds. Buy one before it’s too late, as these are starting to sell in the $50,000–$75,000 range at auctions around the world.
Relatively affordable Ferraris… for now
1989–93 Ferrari Mondial T
First up, the 1989–93 Ferrari Mondial T. Who remembers when Mondials were known as the bottom of the barrel? While still the most affordable Ferrari available today, the prices have risen and the panelists believe they will continue to do so. They used to be sub-$40,000 cars in #2 condition 10 years ago, but now they’re trading regularly for more than $50K. Why the change? Well, like the earlier 308 GT4, the Mondial has all the mechanical goodness of the sportier 328, but in a more accommodating package. The coupe, in particular, has aged well. But the convertible also has its charm.
2004–10 Ferrari 612 Scaglietti
Next on the list is the grand touring-focused 612 Scaglietti. Really nice examples can be found on either side of $100,000, and they will likely rise. Front-mounted V-12, 2+2 seating, in a thoroughly modern car? Sure, why not? Built from 2004–10, all are true 200-mph cars, and you can get them with either a manual or an automatic.
Ferrari 330 GT Series I 2+2
The replacement for the 250 GTE is still affordable in the realm of V-12 Ferraris. There are two distinct headlight treatments on these cars, and the earlier version with four headlights is less expensive, with the same furious 12-cylinder sound. It’s interesting how much styling cues from one generation can affect values, but a recent sale of an earlier ’62 for $225K is about half price on what a later one goes for.
Ferrari 365 GT 2+2
Seeing a theme here? Grand touring V-12 Ferraris are making a big comeback. The “Queen Mother” of all Ferraris is now at $260,000 and rising; it was $80K a decade ago. Yes, this falls into the “relative” category of affordability, and only treated as such because the panel thought this will get even more expensive in the years to come.
Ferrari 550 Maranello
Last up is the 550 Maranello, an outstandingly drivable 200-mph grand touring car. Prices have cooled a little over the past few years, and one can be found in the neighborhood of $100K. Yes, that’s a lot of money, but they were a lot more than that recently.
A final note
Several cars were discussed for both lists, including the Mondial T, the early carbureted 308 GTB and GTS models, and the 308GT4. These cars seem to have moved swiftly through “affordable then” to “affordable now” with only a brief pause at “you missed it.” The general feeling here is that these are great cars and are only now getting a lot of attention. People are also beginning to maintain them properly again, which means there are more on the road to look at and appreciate.