This 1997 Ferrari F355 Shows that the Classic Car Bull Market is Over! with Derek Tam Scott

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The End of the Bull Market: Analyzing a Substandard 1997 Ferrari F355 with Derek Tam Scott
Bid Nerds is back with another hard-hitting episode, and this time we're delving into the harsh realities of the exotic car market. Join hosts John Polnik and Michael Deeb, along with guest host Derek Tam Scott, from Hagerty's Carmuddgen, as we dissect a lackluster 1997 Ferrari F355 that's failed to live up to its lofty expectations. In an era where perfection reigns supreme, this substandard specimen serves as a sobering reminder that the days of easy profits are long gone. From its questionable maintenance history to its less-than-stellar cosmetic condition, we leave no stone unturned in our critique of this once-esteemed marque. Whether you're a seasoned enthusiast or a prospective buyer, our candid analysis offers valuable insights into the shifting tides of the exotic car market. Tune in and brace yourself for an eye-opening discussion that's sure to challenge your perceptions!
Sponsors:
Gaudin Classic
www.gaudinclassic.com/vehicles
Hour Smiths
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GYX Customs
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Пікірлер: 49

  • @sfulmer430
    @sfulmer430Ай бұрын

    I've owned a 1998 F355 GTS 6 Speed since 2002. I'm the second owner and was purchased at the Ferrari dealership Continental Motorsports in Hinsdale Illinois. The truth of the matter is that the car has been overall very very reliable. Early on the headers failed and were replaced under emissions warranty. After that point, the car has run flawlessly over the years. It is true the service is expensive relative to 'normal' cars or a 911. On the other hand it isn't very expensive compared to the overall cost of this Ferrari or any new Ferrari. Other than the 288 GTO, this is my favorite Ferrari: beautiful styling, no glitchy computers, awesome engine sound and very immersive driving so long you have the manual gated transmission. I have heard challenges with the Spyder version which I wouldn't buy because I don't like the appearance of the cloth top. Also, these cars are all old now plus many have probably been abused and not maintained which is probably the primary root cause of the reliability challenges reported on the internet .... but this is my experience having owned one for 22 years.

  • @bidnerds

    @bidnerds

    Ай бұрын

    You're living the dream! How many miles do you drive it on average per year?

  • @sfulmer430

    @sfulmer430

    Ай бұрын

    @@bidnerds Good question... initially when I bought it.... I logged probably a thousand or so... but in recent years I barely drive it... I've never used it as a daily driver .... when I was in the mood, I'd go drive it for 30 minutes and put it away... When purchased in 2002 it had 14,800... now has 27,658

  • @ricardocosta951
    @ricardocosta951Ай бұрын

    I leave in Portugal and it’s usually sunny all year … so I do have a 1998 Manual F355 Spider (I do prefer the Berlinetta) my is Red with black interior … I drive the car frequently and no major issues. When I bought the car 15 years ago I did spend some money to make sure everything is in Top condition (even that I did have “on paper” prove that the previous honor did the belts … I prefer to make sure I know exactly what have been done and what the car needs) … I spend £8000 (including bigger water radiators) but since that and after 15 years I can say that the spending breakdown dividing by 15 it’s around £1000 per year for maintenance. The good thing is that I didn’t bought the car to sell it (like everything I buy) so I really don’t care but if someone offer me 90.000€ to buy I will not sell it 🤷🏻‍♂️ I do believe that a price of something is always what someone wants and other is wiling to pay … I do like classic Italian Cars like Alfa Romeo; Lancia, Maserati, Ferrari so I spend more .

  • @bidnerds

    @bidnerds

    Ай бұрын

    Living the dream Ricardo! Keep driving

  • @JoJoJoker
    @JoJoJokerАй бұрын

    Please do a video on the 964 Carrera 4 which just hit BaT. It’s a rare find and will be a great indicator of the market.

  • @bidnerds

    @bidnerds

    Ай бұрын

    Can you DM us the link on IG?

  • @JoJoJoker

    @JoJoJoker

    Ай бұрын

    @@bidnerds yes

  • @Borneo1530
    @Borneo1530Ай бұрын

    I have owned 3 355’s. I go to a Great Indy for my work. I average about $3,000/ year over a 7 year engine out cycle . If you are too dumb and go to a dealer then you should not be driving this car. The two fellows with the black hats are idiots… guy in the right loves to hear himself talk . This car will smoke nearly everything from the era and no Berlinettas (coupes) are NOT 250k. Difference between being a spectator and a real player on the court. These guys will forever remain spectators.

  • @bidnerds

    @bidnerds

    Ай бұрын

    It used to be that if you didn't go to the dealer for service, you would depreciate the car. How much has that changed? How many miles do you typically drive your 3 355's? BTW, welcome to the channel from one of the black hat idiots.

  • @drunvert
    @drunvertАй бұрын

    Does this model have adjustable steering wheel? Because the earlier Ferraris that didn't, feel like you're driving a bus 3:40

  • @sfulmer430

    @sfulmer430

    Ай бұрын

    Yes, it has an adjustable steering wheel (up and down only) and is an improvement over the 1980s fixed position steering wheels... but obviously doesn't have the ergonomics of a modern Ferrari or typical modern car.

  • @drunvert

    @drunvert

    Ай бұрын

    @@sfulmer430 My 944 has adjustable steering wheel. It's located on the sliding seat lever.

  • @evorobin
    @evorobinАй бұрын

    I would be surprised if a 993 turbo couldn’t keep up with a 355. Interesting view!

  • @bidnerds

    @bidnerds

    Ай бұрын

    Did one of our guys say that?

  • @nls8520
    @nls8520Ай бұрын

    3:18 Assuming you mean a standard naturally aspirated Carrera? Although you do mention a Turbo, 993 Turbo was nearly a second faster than a Berlinetta, let alone a Spider in 97 in the metric of 0-60.

  • @sfulmer430

    @sfulmer430

    Ай бұрын

    You are correct, according to the F355 owners manual the 0-60 is 4.6 seconds (which seems optimistic). If I recall the 911 Turbo during that time was quicker.

  • @nin97

    @nin97

    Ай бұрын

    That was mostly due to the AWD of the Turbo. On a circuit, the 355 had better lap times.

  • @chalachin4452
    @chalachin4452Ай бұрын

    why you guys continue to talk out of your azz? go look at results of the 512tr, 993 carrera s, 964. all your clickbait titles just destroy your credibility

  • @RayMelville

    @RayMelville

    Ай бұрын

    Have been telling them the same but in a little more diplomatic fashion 😀 Seems like they decided to go the clickbait way.

  • @bidnerds

    @bidnerds

    Ай бұрын

    @@RayMelville Guys, the titles and thumbs are not for you. You already know what the channel is about, and we love that you hang out with us even if we disagree. The thumbnail "clickbait" has been very effective in bringing new Nerds to the Herd. The videos we post with positive or even neutral thumbs get half the views. It's just the nature of the algorythmic beast. But yeah, we do talk out of our ass a lot.

  • @RayMelville

    @RayMelville

    Ай бұрын

    @@bidnerds understood. I think a little bit of heated but respectful argument can be good too. I’m a big fan and have been since the beginning. Carry on 😀

  • @bidnerds

    @bidnerds

    Ай бұрын

    @@RayMelville Thats why we love you! Hope to see you in the live chat. Sunday night.

  • @malanne1
    @malanne1Ай бұрын

    I watched a European auction and I saw a F355 manual with 20ish k miles sell for 75. No one wants red and convertibles. Just the trend...it's good value if you want one. 😂

  • @RayMelville
    @RayMelvilleАй бұрын

    A Euro 1999 F355 GTS in resale red with 30k miles (aka used up in the Ferrari world) just hammered at $225k. Yes, that’s F you money for a car you can’t even register in California. Is that your idea of tanking market?

  • @bidnerds

    @bidnerds

    Ай бұрын

    Where was that at?

  • @RayMelville

    @RayMelville

    Ай бұрын

    @@bidnerds BaT on 6/18

  • @RayMelville

    @RayMelville

    Ай бұрын

    @@bidnerds BaT 6/18

  • @stanislouse4168
    @stanislouse4168Ай бұрын

    91K MAX

  • @Vampirebear13
    @Vampirebear13Ай бұрын

    Whoever buys this car should immediately ship it to F40 Motorsports & let Wayne Carini work his magic on it & make it perfect.

  • @bidnerds

    @bidnerds

    Ай бұрын

    Ok. Why's that?

  • @Vampirebear13

    @Vampirebear13

    Ай бұрын

    @@bidnerds I'd think my comment is self evident. I think F40 Motorsports is the best Ferrari restoration shop in the USA.

  • @bidnerds

    @bidnerds

    Ай бұрын

    @@Vampirebear13 not saying you're wrong, but want to know what you think the benefits would be? Seems like that would be a very expensive. Would it pay for itself in the long run?

  • @Vampirebear13

    @Vampirebear13

    Ай бұрын

    @@bidnerds I'd think, whoever would buy this 355 would want it to be the best possible & usually someone who could afford the car in the first place, could also afford the restoration. And taking it to F40 Motorsports would "pay" by making the car not only look good but run good as well, plus there's the added provinance of having it done by F40. I think the his car is also a prime candidate for a color change. I'd have it painted TDF Blue with a charcoal gray interior & a navy blue top.

  • @JPIndustrie
    @JPIndustrieАй бұрын

    Sorry , that Ferrari is epitome of the phrase "there's a right way to buy a Ferrari and a wrong way to buy a Ferrari" ;)

  • @bidnerds

    @bidnerds

    Ай бұрын

    What's to be sorry about?

  • @ScottTaylor-ru3hi
    @ScottTaylor-ru3hiАй бұрын

    So a show predicting auction results on cars that 99% of people will never bid on. I have such a great life!

  • @bidnerds

    @bidnerds

    Ай бұрын

    Watch the full length live show Sunday and Wednesday nights. We cover attainable cars all the time. Thanks for watching.

  • @JWsGarage
    @JWsGarageАй бұрын

    Again only an educated guess but I think a lot of Ferrari and Lamborghini owners are going to loose a lot of money here real soon. Porsche will dip with a minor market correction but remain significantly high in value. McLaren owners 🤣 🗑️🔥😊

  • @Forrest_94
    @Forrest_94Ай бұрын

    The 355 is hot garbage

  • @RayMelville
    @RayMelvilleАй бұрын

    Here you go again using an overhyped car (F355) to make judgment about the broader collector car market. F355 prices have been so over inflated over the past few years. A spider with 36k miles shouldn’t be bringing more than $50k to $60k unless the valve guides, exhaust headers, and cats have been addressed. Yet here you are expecting $90k+ for it. To me the market is hot when people are bidding $80k on this car. Just the sellers seem to be unrealistic with their expectations.

  • @bidnerds

    @bidnerds

    Ай бұрын

    Seems like you're agreeing with us more than disagreeing. Would this car have brought more two years ago or not?

  • @RayMelville

    @RayMelville

    Ай бұрын

    @@bidnerds yes it would’ve. But only because this particular model got pumped up way out of proportion to what it really is. Other cars went up in value as well but less exuberantly than the F355. Take for example the far superior 550 Maranello which went up at a more reasonable rate and still bringing good money especially the high quality ones.

  • @bidnerds

    @bidnerds

    Ай бұрын

    @@RayMelville Again, we're agreeing. There was a bubble on manual 355'''s that has burst ergo teh Bull Market is over on inflated cars like this one.

  • @RayMelville

    @RayMelville

    Ай бұрын

    @@bidnerds I believe a better indicator of the general enthusiast car market condition is the 2006 Lexus LS430 with 39k miles that hammered in July last year at $29k and hammered again today on BaT at $30k. This is a better indicator than using valuation of an overhyped and plentiful car to draw conclusions about the market in general.

  • @chuckschillingvideos
    @chuckschillingvideosАй бұрын

    I've always found the buffoonery surrounding the 355 hilarious. This car is *about* equal to a S550 Mustang GT on the track. Maybe. If it's had a recent service and is running right.

  • @sfulmer430

    @sfulmer430

    Ай бұрын

    Driving a Ferrari from this era or prior isn't really about 0-60 times...it's more about the immersive experience of the car...the overall feel... and the sound ....and even the smell.... for those who don't care about that stuff and just want a super fast car, there are much better alternatives... corvettes...chargers...mustangs....Tesla Plaid... etc

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