1977 Ferrari 308 GTB w/ Audio Clips ($118,900)

May 7, 2018

Location: Staten Island, NY
Chassis: 22473
Engine: 2.9-liter V8
Transmission: Five-speed manual
Mileage: 31,109 miles
Color: Argento Metallizzato | Black leather

PRICE: $118,900

This fresh 1977 Ferrari 308 GTB is a three-owner example finished in stunning Argento Metallizzato. Purchased out of a nearly 30-year ownership term, the car received an extensive refurbishment toward the end of 2016 at Classic Coach of New Jersey and Straight Line Auto Body in NY, including a bare metal glass-out respray, rebuilt transmission, and major service/cam service—the full breakdown of replaced parts is in the “Mechanical” section below. Now a fully-sorted, original car brought back to its glory days, this GTB is described as driving perfection and is certainly ready to enjoy the best of the 2018 motoring season upon us.

CONDITION | EXTERIOR

Body – A steel-bodied example (as opposed to the early fiberglass Vetroresina cars), this GTB features original sheet metal in beautiful condition, free of accident damage and boasting excellent panel gaps. The car is wearing a fiberglass front bumper from a dry sump 308.

Paint – The recent respray of the car’s original Argento Metallizzato paint has been done to an extremely high standard (pictures of respray in “Restoration” section below), and the lighter silver complements Pininfarina’s swoops and curves like few others, and especially compared to darker colors more commonly found on 308s.

Trim & Glass – After its recent re-installation, the original glass is described as flawless with no pitting or chips. The black trim is equally tidy.

Wheels – Classic 14” Campagnolo five-spoke wheels were repainted during the car’s recent work and wear new, period-looking Vredestein tires.

CONDITION | INTERIOR

Steering Wheel – It’s hard to miss the bold, three-spoke Momo wheel used in these cars, and this example presents perfectly with a flawless black leather rim and bright yellow prancing horse horn button in the center.

Dashboard & Instrumentation – The signature Veglia electronic gauges all function well, housed in their shiny aluminum dash. Complemented by a tight dashtop and period-correct radio, the interior has a wonderful time-capsule effect to it. Below, the famous gated five-speed selector sits ahead of functioning A/C controls and, of course, a prancing horse logo.

Seats, Trim, & Carpet – Original black leather buckets have aged nicely with a bit of creasing, and the Ferrari black and white carpets provide some welcome contrast. Beautiful door cards and a tight headliner further the sense of quality and preservation inside the car’s glorious ‘70s cabin.

CONDITION | MECHANICAL

Engine – The transversely-mounted, small-bore V8 is one of Ferrari’s finest, breathing through a gorgeous cluster of Webers and offering a spine-tingling soundtrack as well. Fully serviced in 2016, along with a compression and leak-down test, it is described as being in faultless health, with smooth acceleration and easy starting from cold. Newly replaced parts include coolant and heater hoses and the A/C compressor and fuse box have also been rebuilt.

Original Motor: Yes.
Engine Number: 02684
The Drive: Still an analog car, this V8 is a mechanical delight, pulling hard and wailing toward the top end as all great Ferraris do. Maintenance and parts are also more straightforward than other models, which make the 308 an enduring choice in the prancing horse pantheon.

Transmission – Fully rebuilt and now silky smooth, the five-speed gated dogleg is one of the car’s highlights. Clicking through the gears is truly one of the best parts of 308 ownership, and paired with a strong clutch this car’s gearbox feels second-to-none. Recent work also includes a new clutch.

Original Transmission: Yes.
Gearbox Number: Available upon request.
The Drive: Click, click, click, joy. As rowing-your-own goes, this is the box to have.

Handling – Strong vented disc brakes, four-wheel independent wishbones, and a rigid tube-frame chassis allow the 308 to hang with the best on the backroads. A modest curb weight of around 2700lbs further cements the car’s canyon-carving credentials, and the mid-engine/transaxle layout lends the 308 excellent poise and weight distribution. Recent work includes a new steering rack and suspension bushings.

RESTORATION

Photos of the 2016 bare metal glass-out respray and engine restoration below:

LISTEN

Hear its healthy idle and rev:

ORIGINALITY + DOCUMENTATION

Despite its recent paint job, the car is largely original, retaining its factory panels, interior, and drivetrain. All recent work is thoroughly documented with service records going back to 1986, and still has its original owners manual and jack/toolkit included in the sale.

OWNERSHIP TIMELINE

1979 -1986 | Unknown

1986 -2015 | Raymond Califal, New York

2015 – Present | Galileo Tignini, New York

MARKET OBSERVATIONS

The earliest fiberglass “Vetroresina” cars which are quite rare command the highest premium in the 308 market at the moment and regularly fetch above $200,000. A handful of steel body GTB/GTS models have brought over $150,000 which has pumped up estimates in recent auctions, but while most top examples are earning above six figures, they are still below the lower auction estimates likely indicating the market has found its new equilibrium for the time being. Additionally, color is a key driver in prices as the top performing examples have been finished in non-traditional Ferrari colors as the routine red cars seem to be less desirable unless there is another redeeming characteristic (highly original, low mileage, notable ownership, etc.).

Here are some recent sales at auction to give a glimpse of where the market is at for carbureted 308s (1977-1980):

1979 Ferrari 308 GTB – Petrolicious Marketplace – $119,500 – Blue/Tan with 58k miles, local concours winner, recent services

1978 Ferrari 308 GTB – Gooding & Co | Amelia Island 2017 – $126,500 inc/ premium – Blue Dino/Tan with 88k kilometers, cosmetic restoration, respray in factory color, Ferrari belt service

1978 Ferrari 308 GTB – Gooding & Co | Pebble Beach 2017 – $126,500 inc/ premium – Gold/Brown with 40k miles, concours restoration, Classiche red book

1977 Ferrari 308 GTB – Bonhams | Scottsdale 2017 – $83,600 inc/ premium – Red/Tan with 53k miles, $60k in mechanical and cosmetic work

OUR THOUGHTS

The Silver Bullet – There really is no other way to say it, silver on a 308 rocks! Stand out from the Rosso crowd and showcase the timeless style of your ‘70s Ferrari thoroughbred.

Final Carbureted Mid-Engined Ferrari – Fuel injection became standard about halfway through the 308 production run, ending an important era for Ferrari. While fuel injection was the natural next step at the time, there’s still such a romance in the distinct rumble of a carbureted Ferrari.

The Driver’s Ferrari – While looks and such are subjective, the 308 is phenomenal to drive. Just the right amount of power, great induction noise, and a sublime seating position with a broad greenhouse.

MEET THE SELLER

This car is for sale by Galileo Tignini of Staten Island, NY.

MORE ABOUT THE MODEL

From its wedge-shaped Bertone predecessor, the 308 was largely considered a return to form, featuring a more emotional style than the trendy, harsh aesthetic of the era. Pininfarina and Ferrari have a long and prosperous history together, and it shows in the perfect pairing of art and science in this wonderful automobile. An interesting lineage follows, including the famous 288 GTO supercar and, on the other side of the spectrum, the 208, featuring one of the smallest production V8s ever fitted to a car.

The early days of the 308 highlighted differences between European and American regulations. Cars across the pond benefitted from fewer emissions controls and boasted a dry sump, 252 horsepower V8 that screamed all the way to its nearly 8000 rpm redline. All received a quartet of Weber 40DCNF carbs, which lends these early examples a raw, vintage quality that later fuel-injected cars just can’t deliver.