Lessons learned from a $17,000 Ferrari


I wanted to take a second to apologize about this next car. Why? Because it’s not fast. And unless it’s being pushed, pulled or towed, it doesn’t even move. But that’s okay, because there’s a prancing pony on the hood. This next Ferrari may have gone down in history as one of the least expensive supercars ever sold.

At the end of last month, a Ferrari 355 Spider sold on eBay for a whopping 17,000 smackeroos. How is this even possible? Well, if you take a close look at the photo, there are a few things missing…

Like an engine.

Ferrari 355 Spider

$17,000 Ferrari 355 Spider

Photo Credit: eBay

And a transmission.

And a host of other really important stuff that is required to make this car go super-fast.

But, that’s okay because it’s a Ferrari. Right? Or am I mistaken?

Let’s do some math, shall we?

So, this dude paid 17 large for a prancing pony with no drivetrain. The motor for a 355 costs an average of 8k and the transmission will cost an average of 2,500. The listing said it needed a top and some headlights which add another 1,800 to the total. That’s just the stuff we know it needs.

(Otherwise, the former owner said 70Gs were spent on this “restoration”.)

So let’s add 12,300 (total for needed parts) to the purchase price of the car (17,000 without any other expenses), and we are sitting just under 30,000 bucks.

Hey, I’d pay 30,000 smackers for a Ferrari all day long. But of course, that engine and transmission won’t install themselves. So unfortunately, there are costs involved there, too.

So this guy paid at least 30K, and the bill only goes up from there.

Now, just for giggles, let’s see if there were any other 355s sold…

Yellow 1996 Ferrari 355 Spider

A real 1996 Ferrari 355 sold for 36,000 in October

Photo Credit: eBay

Oh look! A few other Ferrari 355s did sell on eBay over the last couple of months. Let me see how much they went for…

Hold the phone! A few complete cars sold for just about the same amount of money as the “discount” one did. The only difference is that they needed nothing, or only very minor work.

There’s a lesson to be learned here folks:

Just because you can buy a 17,000 dollar Ferrari doesn’t mean you should.

Whoever bought this car got taken for a ride. Remember people, if someone says that they spent 70,000 on a restoration (LOL) and is only asking 17,000 for it, something is wrong.

Walk away. No, run away from that transaction because you can have a much better car that doesn’t need any work.

1997 Ferrari 355 Spider

A real 1997 Ferrari 355 Spider was listed for $39,000 with a best offer selling price that was not listed.

Photo Credit: eBay

The only time something like this works is if you’re planning on shoving some other setup in it for a much lower price. But if you do that, you don’t have a Ferrari. You’ve got a shell with a Chevy or Ford drivetrain in it.

And guess what? This car’s not set up for that drivetrain so you’ll incur other costs to make it fit.

So what’s the moral of the story? If you have your heart set on a supercar, save up for a few years and buy a complete car. These things weren’t meant to be chopped up and put back together.

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