Auction

How Much Longer Will The Ferrari 348 Still Be Relatively Affordable?

Based on just about all other Ferraris, not much.

Ferrari is the one automaker whose cars have a proven track record of consistently gaining value. For example, only a few years ago the Ferrari 308 could be had for, say, in the mid-$30,000 range, depending on overall condition and mileage, of course. Today, however, you’ll be hard pressed to find a good 308 for less than $75k (we emphasize "good"). Another notable Ferrari that’s currently going for solid bank is the F355, but what about its immediate predecessor, the 348?

Without question the F355 was a huge improvement over the imperfect 348, but the 348 was the last mid-engined V8 Ferrari approved by Enzo Ferrari just before he died, and nor was it offered with an F1 gearbox; gated five-speed manual only. Launched in 1989, the 348 came with a 3.4-liter V8 originally with 300 hp and 238 lb-ft of torque. These figures were later increased to 312 hp thanks to an updated engine management system, which this 1994 example benefits from. Like most Ferraris, the 348 came in both coupe and convertible body styles. This 348 Spider, which is due to cross the auction block at RM Sotheby’s Santa Monica event later this month, seems to be in excellent condition although we don’t have an exact mileage figure.

It does feature Scuderia fender shields and factory alloy wheels. Just 1,100 348 Spiders were built before the F355 arrived. Ferrari fans will also know it was the 348 Spider that replaced the aging and not loved by all Mondial Cabrio. Given all that, chances are the 348 Spider will also benefit value wise with age, and right now is a great time to buy. This one is estimated to fetch between $45,000 and $55,000. That’s really not bad, especially considering sky rocketing value of its predecessor these days. Buy now, enjoy it, and sell later at a profit. It’s a Ferrari, after all. Pictures courtesy of RM Auctions.

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