Advertising:
1994 Ferrari 348 Tb Challenge No. 14 Of 32 Built **no Reserve Auction** on 2040-cars
Year:1994
Mileage:64400
Color:
Location:
Lexington, Missouri, United States
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I am regrettably listing my 1994 Challenge car. It is #14 of 32 built
and one of the few that was never converted or raced. The 348C's and a handful of the 355C's are the only ones that were issued titles for road use. My plan was to strip the car down to race trim and use it for both road and track. The Challenge cars are the rare few that you can modify and actually have the value increase. Ferrari built 32 348C's in 1994,
100 Series Speciale cars in 1993 and 15 additional Series Speciale cars in 1994. These are the only limited production 348's for the US market. The Challenge kit (which consisted of mostly now out-of-date safety equipment) would have been installed by the dealer in most Challenge cars. The car currently has
not had any of the Challenge package installed, but came with the
racing pedals, roll cage mounts, different steering wheel and a few other
Challenge items from the factory. This 348 is eligible to run in the
Challenge Club Racing Championship/CCR Forza Tifosi Challenge.
She is Rosso Corsa on tan and has 64,400 miles with a major service (engine out) completed on June 25, 2013 at 62,500 miles. The service included new Hill tensioners, new injectors, plugs, belts, water pump, only two valves needed a re-shim, fluids, a couple bearings in idlers/tensioners, gaskets, air cleaner and new tires. The A/C components are intact. However, I planned on removing them and did not recharge the system at the time of service. The car drove great from its previous home of Los Angeles to it's current home in Kansas City immediately following the service. The seats are not in the greatest condition, but the rest of the interior is nice. As you can see, the exterior looks great, but is not flawless. There are a couple knicks and light scratches. I also have a new chrome Cavallino on the way for the rear grill. She is definitely the right color and still makes me smile every time I tell her goodnight. 348's are great and weather permitting we drive them everyday. The only reason I am selling this one is to cover a 430 Challenge project I am purchasing. We also own another 348 SS/Challenge or I would not even think of turning loose of this one. So take this opportunity to add one of the few collectible 348's to your stable. Remember.. they only built 32 of these. I can offer enclosed delivery to the east coast this month for a small fee. I can also provide indoor storage if needed, but the car will need to be paid for in full within 7 days of auction close. Please feel free to call with any questions. 480-334-8251 (12pm to 8pm cst) Thank you. |
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Ferrari raises $893M, valued at $12B
Wed, Oct 21 2015Ferrari's stock is moving as quickly on the New York Stock Exchange as the brand's iconic sports cars do on the road. The company's incredibly popular initial public offering has already raised $893.1 million by virtue of 17.18 million shares sold for $52 apiece. If the deal's underwriters buy in as well, the figure would grow to $982.4 million. Plus, even after shouldering some of FCA's debt, the automaker carries an enterprise value of $12 billion, Bloomberg reports. Just as the company starts trading on the New York Stock Exchange, the share price is already racing upward, too. As of this writing, Ferrari stock, which is listed under the symbol RACE, is priced at $57.59. At its high so far today, the value reached as high as $60.95. While Ferrari is looking strong, the big winner in this success looks to be FCA because the company should raise $4 billion in the spin-off, according to Bloomberg. With nine percent of the sports car maker on the NYSE and one percent for the underwriters, another 80 percent will be distributed to FCA investors in 2016. When that's through, Exor, the holding company for the Agnelli/Elkann family, should have the largest stake at about 30 percent. Piero Ferrari holds the remaining 10 percent and has no intention to sell it. Related Video: FCA Announces Pricing of Initial Public Offering of Ferrari N.V. Common Shares Fiat Chrysler Automobiles N.V. (NYSE: FCAU/MI: FCA) ("FCA") and its subsidiary Ferrari N.V. ("Ferrari") announce today the pricing of Ferrari's initial public offering of 17,175,000 common shares at an offering price of $52 per share for a total offering size of $893.1 million ($982.4 million if the underwriters exercise the option described below in full). The shares are expected to begin trading on the New York Stock Exchange on Wednesday, October 21, 2015, under the symbol "RACE", and closing of the offering is expected to occur on October 26, 2015. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 1,717,150 common shares of Ferrari from FCA. The offering is intended to be part of a series of transactions to separate Ferrari from FCA. Following completion of this offering, FCA expects to distribute its remaining ownership interest in Ferrari to FCA shareholders at the beginning of 2016. UBS Investment Bank is acting as Global Coordinator for the offering.
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