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Price opinion from advertisements and recorded sales. Not an inspection or a certified valuation.
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Reference photograph of a Ferrari 328 GTS
Valuation · Ferrari · F106 · 1985-89

Ferrari 328 GTS

3.2L NA V8 · 199 kW / 304 Nm · 5sp manual · RWD
AVOIDRated within the over $100k band · 87 of 104 at this money
Research estimate
$227,500
Must gain each year to break even
+7.3%
The projection does not clear it, and nor does most of the library.
CarQuant score
55/100
Scored against the over $100k band, not the whole library
Evidence grade
Researched
No Australian transaction of any kind
$227,500
$151,952 lowhigh $357,179
Researched, no recorded transaction
No Australian sale, and no Australian asking price recorded either. This is the one analogue car in the tranche with no local price behind it in any form.
Measured across this library, a value with no Australian result behind it runs high about seven times in ten, by a median of ten per cent. Read this one as a ceiling rather than a midpoint.

Looking at a 328 for sale?

Put in the asking price and the odometer reading. You will see what this model should make at that reading.

Should make, typical example
$227,500
At about 45,000 km. Enter an asking price to compare.

No Australian sale stands behind this value, so treat the figure as indicative.

We will not sell a report on this car. The check above stays free.

Price history

Today $227,500 · modelled median at five years $248,922
Solid line: the value this library has carriedDashed from 2026: modelled · even money $197,916 to $305,865
The green band is the even-money range and the one to plan on: half of outcomes land inside it. The pale band behind it bounds eight in ten ($151,952 to $357,179). The path is this model's own: it starts along the momentum of its recorded history and bends toward its projected median as the horizon lengthens, so no two cars share a future curve.

The verdict

The numbers argue against it. Scores 55/100, ranking 87 of 104 in the over $100k band. Demand durability is the strongest input, risk resilience the weakest.
Running it costs about $15,800 a year (6.9% of value), which is what the economics score measures. All in, including the projected value change, it is $14,520 a year.
The model's five year median is $248,922, a +9.4% move, with the tenth percentile at $151,952.
Value is research, not a measurement. Treat the level as indicative and the structure as the analysis.
Evidence
Researched0 recorded sales
Off its peak
at peak
Value band
wide
An external source, but no itemised transactions. Indicative only.
Scored against every recent Australian sale this library holds, half its values land within 11.2 per cent of the price paid and the rest miss by more, in either direction. Projections are therefore damped toward flat in proportion to how little is known, and the plausible band is never narrower than the error the model is known to make.
Short term (1-5 years)$14,520 a year all in, +9.4% median value move
Long term (10-15 years)Scarcity case already formed
Negotiate from$227,500

Recorded sales

No individual sales are logged for this vehicle.
The value is supported by the aggregate evidence noted at the top of this report, but the underlying transactions are not itemised here.

Score breakdown

Against the over $100k band median
104 cars in band · ink tick marks the median
Ownership economics30% of total
67/100-2
Scarcity25% of total
59/100-6
Demand durability20% of total
72/100-6
Liquidity15% of total
34/100+2
Risk resilience10% of total
11/100-23
Sub-scores run 0-100 before weighting; the weighted total is 55/100. Medians are computed live from the 104 cars currently in the over $100k band, so this picture moves when the library does.
The working behind each factor: baseline and drivers ↓
Ownership economics30% weight
67/100
Baseline84 pts
− 6.9% of value a year to run-17 pts
Sub-score (baseline plus drivers, clamped 0-100)67 pts
Scarcity25% weight
59/100
Baseline20 pts
+ 130 survivors estimated in Australia+39 pts
Sub-score (baseline plus drivers, clamped 0-100)59 pts
Demand durability20% weight
72/100
Baseline58 pts
+ The best-built of the analogue V8s and the model that led the recovery+12 pts
+ Late ABS cars are supply-locked here by the 1 January 1989 import line+10 pts
− No longer the bargain it was, with the value migrating to the 348-8 pts
Sub-score (baseline plus drivers, clamped 0-100)72 pts
Liquidity15% weight
34/100
Baseline12 pts
+ 110 days on market+12 pts
+ 11 sales a year+10 pts
Sub-score (baseline plus drivers, clamped 0-100)34 pts
Risk resilience10% weight
11/100
Baseline54 pts
− Rust in sills, floors, front valance and targa surround is a $16,500 job-12 pts
− Cracked exhaust manifolds and K-Jetronic cold-start faults are normal findings-7 pts
− Late ABS cars and early ones are advertised in identical language-6 pts
− No Australian transaction behind the value-18 pts
Sub-score (baseline plus drivers, clamped 0-100)11 pts
Model output, not advice or a valuation. Verify independently before acting.

What it costs to own · about 2,500 km a year

Annual cost of access, excl. fuel
$15,800a year
Share of value per year
6.9%
Scheduled servicing$3,56023%
Tyres, annualised$2,42015%
Registration and CTP$1,90012%
Insurance$4,51029%
Sinking fund (failure table)$3,41022%
All-in annualised (a different number)
Purchase (model value plus duty)$236,600
Running costs × 5 years$79,000
Median exit, net of selling cost$243,002
All-in annualised over 5 years$14,520/yr
Share of value per year6.4%
Cost of access is what the car costs to run. All-in annualised adds depreciation, duty and selling costs across a five year hold. They answer different questions and are labelled separately for that reason.
Break-even appreciation, 5 year hold
7.3%a year, only to get the money back
This library projects
+1.8%a year
The projection falls 5.5 points a year short of the hurdle. On these assumptions this car is a cost, not an asset, which can be an entirely rational thing to buy but should be bought knowing it.
Purchase$227,500
Stamp duty$9,100
Running costs x 5 years$79,000
Selling cost at exit, 2.6% of the salescales with price
Sale price needed at +5 years$324,032
Storage
Bought at
No forecast is used to compute the hurdle. It is the purchase, the duty, any premium and 5 years of running cost, grossed up for the cost of selling and spread back over the hold. The projection it is measured against is the weakest number in this product and is drawn that way in the chart above. Transport, finance and any restoration spend sit outside it.

Specification

Engine3.2L NA V8
Power / torque199 kW / 304 Nm
0-100 km/h5.9 s
Transmission5sp manual
DriveRWD
Kerb weight1,370 kg
Built worldwide6,068
Delivered to AustraliaNot established
Effective AU survivors130
Australian sales / year11
Typical days on market110 days
Launch priceNot established

What moves the price on this model

Colour hierarchy
Original paint in a factory colour+7%
Rosso Corsa over Crema, the combination the model is bought in+4%
Resprayed after rust repair in the sills or the targa surround-9%
Options
Late 1988-89 ABS car with the revised geometry and convex-spoke wheels+18%
A complete file of receipts rather than a believed-serviced history+13%
Belts or a full major in date, with invoices+8%
Odometer sensitivity±1.9% per 10,000 km vs 45,000 km
Applied on top of these

Condition, history, originality, ownership, delivery and modification multipliers apply to every car in the library. They are applied automatically when an advertisement is analysed, and the schedule is set out once, on the analyser page.

Projected value in five years

Projected value at five years
$248,922
+9.4% on today
The model's figure. Today it is $227,500.
Even odds it lands between $197,916 and $305,865.
$151,952 lowhigh $357,179
The shaded range is even money and 55% wide; the outer figures bound eight outcomes in ten. Band width follows the evidence - a model with a tight measured record carries a tight band.
A stronger five year outlook than 56% of the library.
-26.6% weakest projected move in the librarystrongest +73.1%
Five-year cost of ownership
Value change alone: +$21,422 across five years.
Running costs over the same period: $79,000.
Duty and expected selling costs: $15,020.
Net cost of five years of ownership: $72,600, or $14,520 a year.
The projected value rise offsets part of the running cost. It does not make the car free to own.

The case for and against

The case for

The best-built of the analogue mid-engine V8s and the car that led the Ferrari recovery in this market, with enough good ones surviving that a buyer can be choosy. The 1 January 1989 import line locks the sought-after late ABS cars to whatever is already in the country, which gives that variant a scarcity Australia does not share with anywhere else.

The case against

It has already been paid for. The 328 rose hard through 2020 to 2022, gave back five to ten per cent in 2023 and 2024, and the value in this family has since migrated to the 348 next door, which is cheaper and rising faster. Nothing local supports this figure - not a sale, not an advertisement, not an auction lot.

Known faults and risks

Risk 1Rust in sills, floors, front valance and the targa surround
Risk 2A late ABS car is easy to claim and needs the build date checked
Risk 3No Australian price of any kind, asked or paid, sits behind the value
Rust in sills, floors, front valance and targa surround$16,500
Sticky and degraded interior plastics, shrinking dash top$6,500
Cambelt or full major overdue$6,250
Cracked exhaust manifolds$5,000
K-Jetronic injection and cold-start faults$3,750
Corroded original Cromodora wheels, refinish$3,250

Similar cars, and what they cost to run

Evidence behind this valueResearched · 0 recorded sales
Carried value
$227,500
Historical price
2016 · $168,4002026 · $227,500
Researched
An external source, but no itemised transactions. Indicative only.
The 1 January 1989 line runs through this model and it is the whole Australian story

A 328 manufactured in 1988 can still enter the country concessionally under the Road Vehicle Standards Act. A 1989 car cannot. The late cars are also the ones buyers want - anti-lock brakes, revised suspension geometry, convex-spoke wheels - so the sought variant is supply-locked to whatever is already here while ordinary cars can be topped up from overseas. The premium on a late ABS car is therefore larger in Australia than it is internationally. That is a real local pricing fact and not a curiosity.

Read the rest of the evidence notes (3 more)
This record has no Australian price at all, which is rarer than no sale

Several cars in this tranche at least have a dealer advertisement to argue with. The 328 does not: no published auction result, no asking price captured, nothing. The figure below is world money adjusted for a closed late-car supply, and the evidence grade says exactly that.

It led the recovery and it has already been paid for

The 328 rose sharply through 2020 to 2022, gave back perhaps five to ten per cent as the broader collector market cooled in 2023 and 2024, and firmed again since. It is not the 2018 bargain any more, and the value in the analogue family has moved to the 348.

Paperwork is worth more here than on a 308

A fully documented car is worth $25,000 to $35,000 over an otherwise identical believed-serviced one, because 6,068 targas were built and enough survived well that buyers can afford to insist. The belts are still an engine-in job at $3,500 to $6,000, or $6,000 to $9,000 for a major, so a car without receipts has no excuse and gets priced as though it has none.

What we will not sell you
We will not price a Ferrari 328 against an advertisement.

No Australian transaction stands behind this value. A spec-adjusted figure built on it would look precise and would not be, so the report is refused instead of sold with a caveat. That goes for this car and 87 others. Everything above is free and stays free.

Read a real listing report
Watch this model
Told when the next one is called.

One line of email when this desk publishes a call on a Ferrari 328 GTS, or records a new Australian sale of one. Nothing else, no schedule, and on a quiet model you may hear nothing for months, which is itself worth knowing about a car you are chasing.

Free. One address, one model, and no account.