If you look at those really, really expensive Ferraris, a few common themes often emerge. Rarity is a great start, as is a manual gearbox. Add in some track focus and low miles and, at present, the sky would appear to be the limit.
As many F40s as there are RHD GTCs in total!
Then there's the 348 GTC. It's rare even as limited edition Ferraris go, with just 50 made and eight in right-hand drive as this car is. It was a homologation car for GT racing, Ferrari's first since the 288. It was of course manual, and manual only. Finally the 348 GTC was probably the most extreme of the V8 berlinetta track specials as well as being the first. Weight was reduced by 190kg over a standard 348 (compared to 90kg from 458 to Speciale) through measures including those gorgeous carbon seats, composite bumpers and new wheels. Power was 325hp, courtesy of the later 3.4-litre V8.
So it's pretty serious even as these sorts of cars go, and we've seen prices for the cars that succeeded the GTC climb significantly recently. What of the original then? Well, turns out it's the cheapest of the lot!
Alright, so £175,000 is still a heck of a lot of money, and a lot more than they were just a few years ago. But a right-hand drive Scuderia will cost a bit more, left-hand drive Stradales are still £200,000 and Speciales kick off at around a quarter of a million. Not a huge difference, granted, but when you remember there are just seven other GTCs in right-hand drive it appears remarkable. How much would a Speciale be if just eight RHD cars existed?
This car, #38 of 50, has covered just 26,000 miles since 1994 and appears in excellent condition. It's believed that this car has never been on a circuit, which will be a bonus to some and a crying shame to others. The advert is well written, the history is extensive, and how cool does it look parked next to the F40s? Hopefully all those drivers realised it wasn't just any old 348...
No paddles, no manettino, no airbag...
While the classic Ferrari bubble probably doesn't need any further massaging, it does seem like the Competizione is still largely in the shadow - all things being relative - of the standard 348. The key difference between the GTC and the subsequent models is that, frankly, those base models were all rather good to start with. The 348, by the standards of its successors, kind of wasn't. While c.2010 would have probably been the best time to buy, could there still be some appreciation (finally) for the Competizione in due course?
Alternatives are tricky to suggest by virtue of the car being so track focused and rare. The 964 RS is the obvious contemporary rival and, wouldn't you know, an old Porsche makes other cars look quite good value: this Rubystone RHD car is another £50K more than the Ferrari with twice the miles... A Honda NSX-R may hold some left-field appear also, if you can find one. This dealer claims to know of cars available, and prices were just approaching six figures a little while back.
The Ferrari remains a real find though, surely a great addition to a collection (if you must) or a track day (go on) anywhere. If you want a taste of classic and raw Ferrari without paying millions, this could be a winner.
FERRARI 348 COMPETIZIONE
Engine: 3,404cc, longitudinal V8
Transmission: 5-speed manual, rear-wheel drive
Power (hp): 325@7,200rpm
Torque (lb ft): 239@5,000rpm
MPG: N/A
CO2: N/A
First registered: 1994
Recorded mileage: 26,000 miles
Price new: N/A
Yours for: £175,000
See the original advert here.