We discussed the other day how the Ferrari Mondial has been creeping up in value, shedding some of the negative energy that has been associated with this “baby Ferrari” for the last few decades. Of course, when you see that happen, it’s likely that the brand’s more iconic models will tick up in value as well, as this 1979 Ferrari 308 GTS goes to show us. It’s been overhauled mechanically with loads of expensive maintenance done and is listed here on Facebook Marketplace for $79,500. Thanks to Barn Finds reader Chuck F. for the find.
A car I recently purchased, a 1992 Mercedes-Benz 500E, is not quite an exotic but it is a special model. Largely hand-built on the Porsche assembly line, it has a great story and has been edging up nicely value-wise over the last few years. I just bought brakes for it to the tune of about $300. Seeing the parts prices and labor expenses for this 308 reminds me that even if you can afford to buy one, Ferrari maintenance is in a whole ‘nother category of pain. And you have to wonder, for cars like the 308 – is the price of entry worth it? The seller notes that new brake pads and rotors clocked in at $1,560, which is the cheapest item on the maintenance menu by far.
The 308 had this unusual leather upholstery pattern, whereby the seats had three lines of color going down the middle of the seat cushion and the backrest. When you see it in a car with tan leather, the lines are usually dark blue or black. The seller’s car is a bit unusual for having the yellow piping going down the sides, which I can’t say I recall seeing previously. Many of the 308 GTS models I’ve posted over the years have piping that matches the color of the seats, or they’ve been solid black in color. The color of the leather itself also seems off, especially when compared to the color of the carpeting. There is factory leather in more of an oxblood color, which is what I suspect was originally in this example.
The mid-mounted V8 was equipped with four Weber carburetors, which is often the more desirable setup for enthusiasts seeking the most authentic (and possibly easier-to-live-with) experience. American market models were down on power compared to their European brethren like so many other models, clocking in at 237 b.h.p. compared to 252 overseas. The engine has been thoroughly updated as it has undergone a timing belt service and full rebuild to the tune of over $21,000 (and mind you, there are still additional invoices for a clutch service and exhaust replacement.) Owning any exotic is a labor of love; the question is would you consider a Ferrari 308 worth the price of admission?
I’ll have a 98 thru 02 SS or Trans Am LS1 equipped with 6 speed. Over 100 additional HP and 1/3 the price for a decent one. You can wave at this guy with the engine cover open scratching his head as you drive past waving!
Trans Am colors here Cooter.
Black w that rich Red interior.
Too much glass & ugly exposed wipers & big cheap plastic panel under them on that gen F-body, & too little glass on the last 2 gen camaros. Go figure.
A Fiero Mera looked lot better.
We’re happy for you.
Love ’em or hate ’em, the later Mondials and 308s are some fine looking cars. So what if you could barely afford to keep them fed and watered, I could buy one of these and just stare at it in the garage. It would be more entertaining than a lot of TV programs anyway.
I agree, while no longer a “fast” car by any means, it would be a total blast to drive…..and to me that is the real deal.
I hope they changed the rubber fuel lines, these were going flambe in gas stations all over southern Cali a few years back, fully detailed well charred.
I’ll take a $25,000, 2012 to 2014 Mustang GT over this beautiful ego massager, any day. And use the left over funds to build another garage.
To each one’s own.
Located in Virginia Beach, VA
My favorite Ferrari I have come close to pulling the trigger twice on 308 GTS’s but the preventative maintenance costs were too high, not to mention a broken whatever. The 308 is one of the better Ferraris for the DIY and I love how they drive, the sound, and how they shift. Lotto bucket list.
Almost did, too … in Lake Forest, IL, I saw a yellow 308 on the showroom floor … I was driving a ’77 Corvette … salesman said it was the last ’78 model and I could have it for $27,900, a $3,000 discount off list … offered a test drive, I passed, knowing I’d probably buy it … bought a ’78 Lincoln Mark V Givenchy series instead … kept that car thirty years, no problems … hard to think about a thirty-year maintenance on the 308 … but the driving experience may have been worth it …
These are beautiful, for sure (well, not this one – the seats make me seriously ill), but they are just not fast enough. Hold out for a 348 or 355. Both are also beautiful, and the acceleration will not allow the grin to come off your face. And don’t worry about the maintenance costs, you’ll get that all back and more with appreciation. Ferraris are excellent investments if you keep them up.
True for now, but for how long?
as seen in “To Live and Die in L.A.”, 1985
When the 92T was posted i said it was my first and last Ferrari, i learned a lot, and said never again with a Ferrari, and that was a few years ago, i sold it when my head was still above water.
I’ll stick to my nice ,simple and highly reliable air cooled Porsches thanks. Ferrari has made some beautiful cars, apart from the ugly Mondial IMHO, but maintenance prices are truly scary to me.
Anton’s in Sonoma rebuilt my 912 motor with a big bore kit for under $7,000 and all it needs is a regular oil change and valve adjustment every 6,000..works for me.
I drove from LA to Carmel with my buddy in his Ferrari Dino GT4.All was well til we hit traffic in Santa Barbara and we sweated as we watched the engine temp climb towards the red..nuff said..
Sorry, but after driving one once, I don’t get the attraction except as an ego massager and perhaps the beautiful lines. I wasn’t a fan of the offset pedals. But mostly, I was unpleasantly surprised at the lack of acceleration. My Honda Accord 2.0T 6-speed is faster.
The main issue with these is that you have to be 4’10 to fit inside it.
Yes. A 912 doesn’t treat you like that and at a fraction of the price. Better yet, buy a Mustang from the last 20 years. Cheap as can be right now and most of them will blow this away in performance, comfort, MPG, handling, reliability, and ease and price of up keep. Of course, you don’t have the, “I’m a rich dude” thing going on for all to see, so if that is your thing, maybe an Italian monstrosity is your thing. The sad thing is that these were some of the most beautiful cars to look at ever made. Too bad the status thing is well understood and encouraged, maintained by the absurd prices to buy and maintain the car itself.
I have to say it. Is this Ronald McDonald’s car ?
Those seats are hideously loud and spoil an otherwise lovely car.
Return the elegant tan leather interior and give this thing some dignity.
Yes, seats are grotesque.
I totally agree
I bought my first 308 out of Virginia Beach it was a Blue on Tan GTBi. I paid just under 20K for it in early 2008. Sold it in 2015 in the 40s. It was just a dog and I kinda got bored with it I had gone through all the fuel system did the service but the Injected 2 valve was Meh.
That yellow piping on the seats has to go.
odd to compare the trans am, porsche and stang to this.
Such 3 differently oriented vehicles…
Such different applications, styles, purposes, etc…
(I’m gunna compare apples, oranges & blue berries nxt. hey, their fruit, right?)~