Room for 4: 1977 Ferrari 308 GT4

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Finding a cheap Ferrari anywhere that isn’t a basket case restoration project is difficult to do. However, for a mere $32,500, you could own a running, driving 1977 Ferrari 308 GT4 Dino like this one here on craigslist, which supposedly is in fine mechanical condition despite looking a bit worse for the wear cosmetically. This example is located in Sugarland, Texas.

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The owner of this Dino claims he simply doesn’t drive the car enough to justify holding onto it. In the photos, you can see a Porsche 911 in the background and a BMW Z3 parked next to the Ferrari. He certainly has choices when it’s time for a drive. Unfortunately, you can also spot dust and faded paint, indicating long periods of dormancy – never good for a Ferrari.

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The interior is not pretty, and even looks a bit cheap in places. There’s the obvious issue of the tattered seat upholstery, but then there’s the general filth along with the boy racer-ish aluminum pedal covers in the footwell and aftermarket speakers. Interestingly, the rear seat is also heavily weathered on the driver’s side, leading me to wonder if a window was left open for extended periods.

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As the first mid-engined V8 Ferrari, the 308 GT4 opened the floodgates for future Ferraris to have their engines mounted mid-ship. American models made 240 b.h.p., and despite the seller’s enthusiasm for how well the car was maintained, this engine photo doesn’t inspire much confidence. But for a running, driving Ferrari, how much better are you going to do? Let us know your thoughts in the comments below.

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Comments

  1. Blueprint

    Run allright.

  2. Wayne Thomas

    Price is “crackpipe”. See the Ferrari-Subaru later Ferrari LSx engine on Grassroots Motorsports

    https://grassrootsmotorsports.com/forum/build-projects-and-project-cars/fubaru-76-dino-308-gt4-turbo-subaru-swap-project/59090/page1/

    • Greg

      How unfortunate for the car the person and the future of the car……there are a number of 250GTE’s and 330 GT’s out there with Chevies that have next to no value relative to their stock brothers.

  3. Dolphin Member

    No offense to the seller, but in a scruffy carport, with a chock behind a front wheel, the grille sitting on the ground, a ratty interior, and dull red paint….well, I would want to be certain about the perfect running and driving that he talks about. That would go some way to making me think that buying a Ferrari from a CL ad might be a good thing to do.

    If it actually does run and drive perfect as claimed and there is evidence of the services he talks about, then the ratty interior and dull paint are not a problem because these are not only the best of the 308 Ferraris, they are also appreciating fast since they are the only affordable GT Ferraris left. The best of these are now $100K and up, and even drivers go for $50K – $70K. If this car runs/drives well and has evidence of being serviced properly, with no signs of messed up mechanicals or accidents, then interior and paint work would be well worth putting into the car.

    These were the unwanted 4-seat Ferraris for years, until people realized that they actually handle better than the too-short wheelbase 2-seat 308s. When Paul Frere tested an early Euro version and found that it would soar right up to its 155 MPH top speed with only 3 liters of engine, that said it was a real Ferrari. A ride I had in one around Road Atlanta confirmed for me that they are great road cars.

    • Leon

      Judging from the surroundings and the clutter I’m really doubting the mechanical quality of the car. Just doesn’t look like it’s in an environment where it’s appreciated.

  4. Blindmarc

    I agree with dolphin on this one. Service on any Ferrari is not cheap, as we all know. I always liked these but of the many cars in the last few weeks, this is one that needs a personal inspection before any offer could be given.

  5. Kevin Harper

    Geez I owned one of these back in the 90’s. I paid 17k for it, put probably 5k, and sold it for 19k. It was in much better shape than this one when I initially purchased it.
    It was fun and I did like it much better than a 308 GTB, but in truth I preferred my hotrod X1/9 and GTV6. They were both more fun to drive and did not come with the stupid parts prices.
    I know that the market has moved but in my head this is a 7 or 8k car that needs 15 to 20 of work.

  6. The Walrus

    ‘because the paint and clear coat are still there’… someone needs to buy this STAT… with intact original factory clearcoat, this 1977 beauty isn’t just a Ferrari, it must also be a time machine! Apparently, when new, it’s original paint was applied at some point in the future when clear coat existed!

  7. Bob_s

    This is the most unloved 308 and besides Ferraris prices are starting to drop according to Michael Sheehan.

  8. nessy

    Only a mere 32500?In this shape? Right. Not long ago, you could buy this model in excellent condition for 10g or less. What is next, 100000 Mondials? Not all Ferraris are great.

  9. Cuda Dude 69

    Gents…FYI: I’d be cautious about this one…since Memorial Day… Sugarland, Tx & surrounding areas have been flooded “twice!” I’ve seen horrific pics from that area…doesn’t seem this 1 was actually in a sealed garage…

  10. Richard

    its a 15-20k car at best and that’s if it does actually run..

  11. Dolphin Member

    It’s hard to believe that the previously unloved 308 GT/4 is now a desired $100+K car (in top condition).

    Lots of similar changes have happened to other cars, too. The best example is the Ferrari 250 GTO, which went from yesterdays obsolete race car that was donated to a high school shop for students to take apart or left out in a field……..
    [see: http://www.carbuildindex.com/28354/the-unbelievable-but-true-full-story-of-1962-ferrari-250-gto-3589/ ]
    to the most expensive collector car in the world, with public auction sale prices at around $40 million, and private sales at over $50 million.

    Here’s the explanation for these changes in sentiment and value:

    That was then, this is now.

    • Andy Frobig

      Not to mention, there were so few GTOs made, that busting one up in a high school auto shop puts a sizable dent in worldwide inventory. It’s like baseball cards and comic books. The ones that are still around are worth a lot because kids beat the crap out of them back in the day, and moms threw them out, so there are very few nice ones left. I expect a lot of morons thought owning a Ferrari made them great drivers, and found out the hard way that they weren’t, thereby shrinking the supply one too-hot corner entry at a time.

  12. RayT Member

    Recently saw a GT4 on Ebay priced in the $80K range. You’d have to spend much more than 50 Large to make this one nearly as nice.

    I’ve never particularly liked the exterior, but my opinion made a 180-degree shift when I got to drive one. They’re great fun, and have all the positives and negatives of classic Italian sports cars. I’m 6’2″ and found the driving position at best a tight squeeze, but that’s the kind of thing you forget when you head down the right kind of road.

    I’d like to own one. It’s a Ferrari, and does what a Ferrari does, without — so far — a seven-figure price tag. I suspect any GT4 is going to be a labor-intensive drain on the bank account, though.

  13. Jonny the Boy

    Craigslist be like, “Will buff out fine!”

    This is probably the scariest ad I’ve ever seen for a 308gt4.
    I’ve liked these cars from the moment I first saw one. This is Ferrari’s under-appreciated car, mainly due to styling being by Bertone instead of Pininfarina. Which is like the (finally!) appreciating Porsche 914’s association with VW. Absolutely stupid reason not to like a good car.
    BUT… Somebody’s not being realistic here, and that somebody is the guy who’s selling this car. BUYER BEWARE!!!

    Here’s my write-up (and painting):
    http://www.jonathanswoods.com/html/ferrari.html

    • Dolphin Member

      Very nice painting and comment, Johnny. I see that you really like the GT/4, as I do.

      These aren’t beautiful, but who cares? They handle really well, have low aero drag, they sound great, and the owner will likely be the only guy on his block with a V8 that has four dual-throat Webers on top. I would rather have one of these than a lot of the butt-ugly modern supercars that look like they were styled by a Hollywood CGI moviemaker to resemble some La-La land guy’s idea of a rolling monster while he was on acid.

      You definitely would need to beware of this car, which looks like it is being flipped. I could be wrong, but I don’t think this owner has had the car very long. You have to go in sceptical here.

      We already know it needs paint and interior work, so what really matters now is the service records and the mechanical condition. And since he is taking offers, once a thorough PPI is done by someone who knows these cars (easy to do in the Houston area) it will very likely turn up some needs, which can be used to negotiate on price. It would need to run / drive well and have minimal needs per an expert PPI for me to be interested. If someone could get it at yesterday’s price, at least $10 to 12K below asking, preferably lower, that would give a buyer a shot at coming out with a decent car for well below the current market, with some room to fix things down the road.

  14. SeaKnight

    Looks to be a money pit. I would leave it be. Better deals out there.

  15. Murray

    I don’t think this Ferrari has been flooded, too clean. BUT & its a big BUT, the thing has certainly been abused. Suspect its a very high milage example which appears to have lived most of its life outdoors. In some respects, particularly if its been service properly (which the appearance of the car causes one to seriously doubt), high milage would work for it. As its been said already the very worst thing you can do to a Ferrari is to let it sit……. $32.5K is a ridiculous ask price though…..

  16. Chris A.

    One of these is the first and only Ferrari I’ve driven. Just a nice driving, precision feeling car. What is nice is that vision out of it was better than I expected. That V8 is a joy to use. This one has not been treated kindly and deserves to be with an owner who wants to put it right. I can’t see it selling at the current price, not even close.

  17. Steve

    What has this seller been smoking??????
    $32K … he’s got to be on something.
    If the body and exterior are this bad, you can bet he hasn’t followed the required maintenance schedule. This car is going to be a money pit and unfortunately, 308’s are not at the top market and may never be.

    Suggestion …. cut it in half, length wise and sell it as wall art to a restaurant.

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