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F355 Engine Equipped: 1978 Ferrari 308

The Ferrari 308 spent many years being a bit of an unloved car when found in driver condition. I liken it to the reputation of the modern-day Porsche Boxster, which is still a respectable car when found in good order but has increasingly become a bit of a throwaway item when suffering from neglect or with high-miles and tired cosmetics. These days, the 308 has become more of an item, as good examples get harder to find – which may be why the seller of this project 308 has decided to list it here on eBay with a Buy-It-Now of $35,000.

Bidding is still well short of that number, currently sitting at $10,000. The listing doesn’t provide any explanation as to what happened with this 308 that it ended up in such poor condition. The seller has transplanted an engine from a later Ferrari F355 that he claims was built by a well-known Ferrari engine builder (who has since passed away). The exterior condition suggests that this 308 went through a fairly significant life event, and perhaps the engine swap indicates the original mill was gobbled up by a fire.

I don’t know what’s making me think fire, other than the exterior panels look sort of like a car that has been through an unexpected flame job. I will admit to not knowing enough about the various sanding and priming processes to say confidently that we’re not looking at a stalled body shop project in addition to the lack of progress on the mechanical side. The F355 mill is said to have numerous upgrades including “….racing cams, pistons, connecting rods and valves,” as well as a “…balanced and blueprinted crankshaft, custom-build crankshaft/engine block support structure and ported/polished intake and exhaust ports.”

The engine work sounds impressive, and the seller claims that he has the various documentation and receipts that captures the work that’s been done. The rest of the 308’s story remains a bit hazy, with no explanation given as to how it ended up in this state to begin with and no real details on the state of the engine: has it been run? Broken in? What else is needed to finish it? Are there other parts included, like glass, headlights, body panels, and the like? No matter how cheap it is to buy a rolling project, Ferrari parts are always expensive – so this one has a long way to go before it’s complete.


  1. bobhess bobhess Member

    That full blown roll cage should give you a hint of the car’s history. You can be sure that racing it over a long period of time will use up engines, so you can assume there is nothing original along that line. Going to be an expensive project.

    Like 11
    • randyS

      as well as the Hoosiers.

      Like 2
  2. Howie

    So it has been sitting for over twenty years, and nothing to protect the intakes? This is a fast and easy pass!!

    Like 6
    • 19sixty5 Member

      That engine and surrounding surfaces look pretty darn clean to me, I bet they were covered. Looks like fun, really expensive fun…

      Like 3
  3. Timothy Vose

    Tote bucket seats!

    Like 0
  4. chris roche

    Don’t walk, but run as fast as you can away from this turd.

    Like 4
  5. Retiredstig Member

    No sale on EBay, highest bid was 14k, no surprise.

    Like 0
    • Howie

      It was relisted and now at $25k, with reserve met.

      Like 0
  6. William Daniel Toel

    $35K??? Good freaking luck!!!

    Like 7
    • Arthur Courchesne

      I want to say that to every project car and the prices I see on Barn Finds!!!

      Like 2
  7. chrlsful

    sales on name only? Registration/road car? w a y off. Unless
    I see more than components named I’m wary – example: advertised lobe separation, lift, straight up key, etc are not there. Selling a dream? Even da pic
    make me wary rather than more confident ona purchase~

    Luck to seller / buyer

    Like 2

    Buy the car, remove the highly coveted F355 engine that, if the seller is telling the truth, should be making well over the original 375hp and install that glorious V8 in a 308/328/355 with a blown engine. The car in this article is 3000 pounds of hammered sh** and belongs in a junkyard. It’s almost certainly been in a fire, and where is the interior? Burned to a crisp, I’d bet.
    But the engine alone is easily worth the $35k asking price, it just needs to be installed in something a lot nicer than this literal dumpster fire.

    Like 4
  9. Bob V E

    The engine shown is not a 355 engine, it’s a standard 2 valve 308 engine.

    Like 0
  10. t-bone bob

    Located in: Evanston, Illinois

    Like 0
  11. PRA4SNW PRA4SNW Member

    If the engine is all that the seller makes it out to be, I think that removing it from that mess of a car and selling it separately would be the best way to go.

    Like 0
  12. Norbert Hofer

    I know that car. It has a 2 valve engine with aftermarket fuel injection. Forget the displacement. Solid engine built by Theiler. Probably will need to be gone through since it’s been sitting for years. Body was fabricated to look like a SWB 288GTO. Suspension is kind of just cobbled together. Don’t think it was ever in a fire just never primered. Neat car but no real though into it on what you are going to do with it once your done. Still big project where you’ll need deep pockets.

    Like 0
  13. Norbert Hofer

    I am sure theres $25,000 to $35,000 tied up into the engine and transaxle. Service the engine and put a modern engine management system on it and you have something. Everything else is pretty much old 1990s tech.

    Like 0
  14. t-bone bob

    US $14,200.00
    9 bids
    Ended 12/09, 08:22 AM
    Reserve not met

    The seller has relisted this item

    US $25,100.00
    7 bids
    Ended12/16, 08:23 AM

    Like 1

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