Wednesday, February 22, 2012

1998 Ferrari F355 GTS and Berlinetta - Collector Car Market Report

Several of these magnificent Ferraris have crossed the ebay auction block in the last couple weeks, most ending unsold. Supply is plentiful and if you still have a job and around $60k to spend on one of the best all-around Ferraris ever made, this is a good time to buy. Good to excellent examples range in price from $50-70K, the GTS generally going for about $5k more.
For capital preservation purposes, I'd recommend a red on black GTS with a 6 speed manual (black leather because it ages well, hides stains, is easy to re-dye and just plain looks great). That said, you should choose what you like as these won't be appreciating in value for several more years. FWIW, my favorite Ferrari color combo depends on the model, but for the F355 I like red on black. And being a performance purist, I prefer the Berlinetta to the GTS.
As always with a Ferrari, either buy one that has had the major service done recently, or factor that into the price. Problems to look for include a rattling bypass valve, cracked manifolds, inoperable electronic suspension, broken heater valve, engine fires (yikes), catalytic converters, a sticky throttle pedal, and worn valve guides leading to oil burning.