It’s Gullwing Motors time again! And with this episode, we have a Ferrari to check out. Now usually, when one just whispers the name “Ferrari” dollar signs fly by at an alarming rate – not necessarily the case here so let’s take a closer look. This 1984 Ferrari 400i is located in Astoria, New York and is available, here on Gullwing Motor Cars website for $39,500.
The Ferrari 400i has its roots in the 365 GT4 2+2 (’72-’76). That model gave way in 1976 to the model 400 which in 1979 morphed into the 400i, a fuel-injected version of the 400. As is often the case with various Ferrari models, the production numbers for the 400i were low, about 1,300 copies were assembled over its seven-year (’79-’85) run. Perhaps owing to the 400i’s station in life as a 2+2 design, the automatic transmission models outsold manuals by about a 2 to 1 ratio.
The seller claims this Ferrari is just out of long term ownership and “barn storage” and has experienced only 21K miles of use. The service records and history are available so it may be possible to document the low mileage. The bronze exterior finish seems like a peculiar choice for anything from Maranello but this car wears it well. And it may clean up well, it’s hard to judge the actual paint condition via the images provided. One thing that can be verified is the straightness of its body panels, they appear to be free of damage. The only thing that looks out of place is the rear suspension, this Ferrari seems to be down on its rear haunches. The typically found, Ferrari “star” alloy wheels look great on any model including this 400i.
Under the hood is a fuel-injected, 306 HP, 4.8 liter, V12 engine working through a five-speed manual transmission. The seller states, “Not currently running but a solid and honest car for easy recommissioning“. What it will take to “recommission” this Ferrari into running status could swing across a very broad swath. The engine appears to be intact but will require close inspection by a knowledgeable technician to make a full assessment.
The leather-upholstered interior shows as sound but it’s in need of a thorough cleaning. The upholstery materials, door panels, dash pad, and instrument panel look to be in good condition, with no rips, tears, or missing components and may ultimately require little attention. The simplicity of the instrument panel and steering wheel is a nice return to an earlier time.
Looking around, a nice, running and appearing 400i can bring $60 to $80K but it’s easy to imagine that the required “mechanical and cosmetic refurbishing” could be rather pricey. Then again, the 21K mile odometer reading, assuming that it is authentic, is a draw. So what do you think, priced right?
Ferrari 400’s aren’t that desirable and can be found for not much more than what that are asking. Not saying they aren’t a nice car. I like the 400i and they remain a good entry into the club. Taking a closer look at the engine reveals 3 missing injector lines on the passenger fuel distributor. So assuming the mechanicals are still sound the engine will need at a minimum.
Fuel pumps
Fuel tank removed and cleaned, new fuel sending unit.
Both fuel distributor’s rebuilt, and injectors cleaned.
Fuel hoses, coolant hoses, ect…..
So it’s safe to say one could spend 10K to make this right assuming the engine is strong. Hard pass on this one.
Best Ferrari to purchase is one that has an extensive service history and in good condition.
A reasonably affordable way to claim Ferrari ownership. I’d love to find a salvageable ragtop version…rip the guts out…and make it a dual motor EV.
Nothing more expensive than a cheap Ferrari. What is wrong with the rear suspension? Can you turn the engine by hand?
Yeah, 40K plus a ton of never-ending work is too much for anything from 1984.
Crackhead price for a non runner!
I love the color.
Gull-Ible Motor Cars.
Close to home, but no place to put it and presently out of my price range.
It i the cheapest manual trans Ferrari V12 out there at the moment. Two sold recently for around $75k ea. Both were really nice.
I was excited by this one when I first saw it in Gullwing’s daily mail yesterday. Looking at the full set of pics, half the exhaust is missing on one side and the two sides that are there are very different. The self leveling system obviously has an issue but the passenger side rear looks extra weird. There is a shot of the body where there is rust around one prancing horse badge and no paint. And the interior looks ok but is going to have a really musty smell that is tough to get out. I think it would be cheaper to buy the $67k 5 spd car they have in inventory. I do envy Peter Kumar for his finds though!
These and the Mondial are the “Ugly, redheaded stepchild” of the Ferrari range, although I have to say I have always loved the styling of these. Seems not too long ago you could buy a decent runner for under $20K. Hate to say it, but if I had the means, and the time, I would throw an LS in it, and make a coffee table out of the block. I’ll find my own way out.
With just 21K on the odometer, there is something horribly wrong with this car that will likely cost the new owner a huge sum of money to correct. RUN!
What do you know. A Ferrari in decent condition for a fairly resonable price from Gullwing Motors.
I know how much it costs to maintain an 8-cyl Ferrari, so that’s x1.5 for the 12. That $10k estimate above is wildly low, because in addition to all of the hoses, fueling, etc. that needs attention due to sitting, you’ll have to do a full belt service, which will be $10k on its own. But before you call me a Negative Nelly, as a manual transmission example this car is worth 20-25% more than a comparable automatic. And that gap will widen further as these touring Ferraris climb the ladder of collectibility.
You are looking at about $5000.00 or North of that to get it running, and if you are not familiar with these cars, don’t try it. Call Peter (Gullwing) and ask him if he or the owner if its consigned merchandise is negotiable. If not, pass at that figure. But the car has potential. It’s too far away for me and I have no room.
‘Barn find’ and ‘Ferrari’ should never appear together!
No such thing as a cheap Ferrari.