This 2004 Ferrari 360 presents beautifully and is an unmolested classic with a genuine 14,179 miles on the clock. It seems to tick the boxes for anyone seeking an Italian thoroughbred with no visible physical damage or issues. The price looks like a bargain in the current market, making it seem irresistible at first glance. It hides a secret, which may be the difference between whether someone pursues it further or decides to search elsewhere for a classic to park in their garage.

Ferrari released the 360 in 1999 as its replacement for the F355. The company offered twenty paint shades from its color palette, although buyers could utilize the “Bespoke” program to order their new 360 in any color they liked. There is something unmistakably “right” about finding these cars in iconic Red, and this Ferrari wears gleaming Rosso Corsa on its exterior. The paint is in good condition, with no significant flaws or defects. The panels and glass are flawless, and the underside shots confirm it is as structurally sound as the day it rolled out of the factory. One exterior highlight is the beautiful 18″ cast alloy wheels that showcase the enormous brake discs and Red calipers. The wheels appear perfect, and this car’s overall presentation makes the mileage claim seem plausible.

I watched a documentary a few years ago about Ferrari’s process of building the engines that power its various models, and it made it abundantly clear why the company charges a premium price for its cars. It casts its engine components from a unique and secretly blended aluminum alloy, and each piece is x-rayed immediately after its release from the sand mold to ensure no cracks or other defects. Each engine is handbuilt by a single technician, with a powerplant typically taking around two days to assemble. The finished product is run on a dyno to confirm it is perfect before it gets anywhere near the production line. That is the practice followed with the beautiful 3.6-liter V8 powering the 360. The engine’s capacity is modest, but the 394hp and 275 ft/lbs of torque will launch a 360 through the ¼-mile in 12.6 seconds. If the driver lets it off the leash, the needle will stop at 183mph. This car features its original engine and paddle-shift six-speed transmission, and with only 14,100 miles on the clock, the news seems positive so far. However, this Ferrari hides a secret. The engine doesn’t run, and the seller believes it might be an immobilizer issue. That may not be the biggest drama because this classic now sports a new VIN and a Rebuilt title following flood damage. It may not have fired a shot in anger since the flood, and the seller includes a new wiring harness in the deal. They appear approachable, so posing questions would be wise before committing funds to this purchase. I would want to know what period elapsed between the flood and when the car was dried out, and whether the vital fluids were flushed and replaced to prevent deterioration. There will undoubtedly be other factors to consider, including whether the new owner might struggle to secure appropriate insurance due to the title status.

This 360 features Ferrari’s typical approach to interior trim, with most surfaces covered in hand-stitched leather. The company’s attention to detail is admirable. It sources its leather from areas where farmers don’t use barbed wire in their fences, which maximizes the chance that the leather will be flawless. The interior has no visible problems, and its condition is consistent with the stated odometer reading. However, there may be functional issues requiring attention. The seller supplies no information on the form of the flood that consumed this Ferrari, how deeply it was submerged, and how long it was underwater. If somebody thoroughly dried everything quickly, many components and switches should be okay. Items like the gauges will have a question mark hanging over them and may require specialist attention to read accurately. The further we dig, the more questions need answers with this 360.

This 2004 Ferrari 360 presents well, and its gleaming Red paint will tick the boxes for someone seeking a Prancing Horse to park in their garage. The seller listed it here on eBay in Fort Lauderdale, Florida. Their price of $45,000 is well below the market average, and their willingness to consider offers could slash the price further. However, the flood damage may raise questions in the minds of some, while the “Rebuilt” title might make it difficult for the new owner to secure appropriate insurance. Would you take that risk at the price, or are the odds too long for you?