Experts, Other
Published: 21/08/2023

Ferrari 348 TB 1991

Investment in classic cars is an effective way of diversifying a portfolio, indicated by fact that 81% of ultra HNWs have at least 1 classic car within their portfolio. The Knight frank 2023 index shows that classic cars have appreciated 185% in the last decade and 25% in the last year. In the last 10 years, only beaten by rare whiskey; classic cars are consistently in the top 2 highest performing luxury asset classes.

However classic cars as an asset class is not as widely adopted as it should be as a diversification technique. Only 13% of mass affluent investors (mainstream) have any form of classic car investment in their portfolio due to the perceived high barriers to entry including:

ğŸŽï¸Lack of awareness of the category

ğŸŽï¸Skill and experience in selecting the right asset

ğŸŽï¸Access to acquire the right assets,

ğŸŽï¸Space to store, experience and resources to maintain the vehicle

ğŸŽï¸Capital available to buy the whole car

ğŸŽï¸Lack of awareness of regulated platforms to enable fractional investment.

For our first Ferrari launching this Friday, the 18th of August, we opted for a manual 348 TB from 1991.

Why Manual Ferraris? A Dying Breed 

The age of the manual is over. The iconic H pattern shifter has always been praised by enthusiasts for its precise, rifle-bolt nature along with making the marques cars more engaging and enjoyable to drive, but in 2012 Ferrari dropped a manual option across its range of sports cars.

Mainly due to the fact that Ferrari's dual clutch system had become so advanced it made shifting lightning quick and made the brands cars faster than ever before.

However, with models such as the Ferrari 430 where the Scuderia which was only offered with an F1 gearbox, made more power and was faster than its standard manual sibling, those offered with the gated gearbox are changing hands for more than the F1 Scuderia model as purists chase that raw, analogue experience that older generation Ferraris used to offer.

This has lead to the manual alternative commanding a higher premium and holding their values as they are not just becoming rarer but enthusiasts and collectors can all agree, there is something just so satisfying and raw about rowing through the gears on a gated manual gearbox.

The 348 TB offered here is also the last time Ferrari's five-speed gearbox was used before it made way for a more modern six-speed variant. Making the 348 sought after for being both a manual Ferrari but also the last model to have this unique transmission.

Why this specific Ferrari  348 TB?

High Export potential

This Ferrari is positive for an investment in two ways. Being a LHD drive car means they are less desirable in the UK and can be sourced under market value compared to RHD counterparts and also opens it up for export to Europe as well as the US and Australia increasing demand.

An Exemplary Model

Having just one Italian owner from new before being imported into the UK in 2015 this example underwent a 'non-intrusive' restoration bringing it to 'one of the best examples to be found in the UK'. Updated with the desirable styling cues from the later 348 GTB and is an example to be preserved for future generations.

Low Production Numbers

After hitting showrooms worldwide in 1989 production of the 348 ceased in in 1994 there were a total of 8,745 units produced. Only 2894 were the 'TB' (Transversal Berlinetta) variant making them quite rare at the time and even rarer now that time has taken its toll on many 348s over the years.

Raw and Analogue Driving Thrill

The 348 TB was one of the final 'raw' cars to leave Maranello. Offering a pure and simple driving experience that purists crave and enjoy. In this technological age purists and collectors pine for that raw driving thrill that can only be offered by supercars of this era making them highly desirable.

Past Performance

Ferrari 348s have seen an average price increase of over 36% between 2019 and 2023 inclusive. According to data taken from ClassicGT. Projected rate of return - 9% per annum.

Under The Radar

The 348 wasn't particularly well received after its launch, but things have changed substantially. Instigated by some retrospective reviews by leading automotive journalists. Meaning these cars are finally getting the recognition they deserve and driving values up in turn The Last V8-Engined Ferrari Developed Under The Legend Himself. The 348 was the final Ferrari to have a V8 engine mounted at its core under the close supervision of Enzo Ferrari himself and crafted by chief Pininfarina stylist Leonardo Fioravanti.

The 348 closely resembled Pininfarina's other iconic masterpiece the Ferrari Testarossa. With its deep side strakes along the flanks and a slatted rear-end the car had styling ques from the 80's icon however, the 348 was more curvaceous and better proportioned and underneath was a 3.4litre, quad-cam, dry sump V8 spinning out 296bhp.

Although heir to the 328 GTB the 348 was actually a completely new car. With a fresh new pressed steel monocoque chassis and a longitudinally mounted engine meant it was mounted lower within the chassis. A further development was its transversely mounted five- speed gearbox (Hence the 'T' in the TB) this innovative technology was derived from Ferrari's Formula 1 program. All these developments lead to a lower centre of gravity which benefitted the 348's handling. The 348 may look like a scaled down Testarossa, but with 300 Bhp on tap and a top speed of 171 Mph, it gave little away in terms of performance to its 12-cylinder sibling. Such was the demand for this red-hot super car that prospective buyers queued up in droves to get their hands on the latest! 

 

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