1999 Ferrari 355 GTS Targa


  • Location: New York (Ferrari of Long Island)
  • Year: 1999
  • Make: Ferrari
  • Model: 355 GTS Targa
  • Mileage: 19.8k
  • Engine: 3.5L mid-engine V8
  • Transmission: F1 paddle
  • Drivetrain: RWD
  • Ext. Color: Argento Nurburgring Sliver
  • Int. Color: Blu Scuro leather
  • Key Features: low miles, last of the Targas, recent service inc. belts

Other than the fact that I didn’t win the first Pebble Beach Road Race in a Jaguar XK 120, I didn’t take home the Formula One World Drivers’ Championship, nor did I win multiple times at the 24 Hours of Le Mans or 12 Hours of Sebring, and I certainly didn’t break 257mph at the Bonneville Salt Flats in 1959…Phil Hill and I are nearly identical.  We are both Kappa Sigma fraternity brothers and we think the Ferrari 355 is one of the top 10 F-cars ever made.

At a time in the early 90’s when Ferrari was climbing out of side-vented Testarossa’s and 348’s, and staring down the barrels of what Honda was producing with the NSX and Porsche with the 964/993, there was a time when even some loyalists were concerned where the automaker was headed. Introduced in 1994, the F355 was to be the answer many were looking for.

Every article you read about the 355 will tout the 1000+ hours in the wind tunnel to maximize aerodynamics.  Really?  Is that what you’re thinking when you walk into a stark white marbled-floor Ferrari dealership, ready to throw down $209,000 (future adjusted dollars)? Maybe it is…I would be drooling over the curved hips and perfect side-profile proportions, I would marvel over the hidden door handles trying not to be noticed as I search for them, and I’d revel in the (unknowingly at the time) last of the pop-up lights and removable targas we’d ever see on an F-car…but then again I’ve personally never walked into a Ferrari dealership with that much cash so I should refrain from commenting.  

I have, however, always been enamored with the 355 and think of it as the last modern classic Ferrari.  The 360 takes a little breath away as well, but more as a starting point for what I consider the modern’er Ferrari’s.  The 360 is the start of the much more rounded sleeker bulbous Ferrari we see today.  The 348 had great proportions but was still a bit stuck in the 80’s (not that there’s anything wrong with that).  The 355 is the perfect medium…the Goldilocks zone…not too 80’s and not too millennial.

Case in point, we found this 3.5L V8 Targa GTS 355 for sale at Ferrari of Long Island.  The GTS was introduced in 1995 and would be the last targa Ferrari ever made (save the J50 supercar but that doesn’t really count).

Other than missing the third pedal, this one has everything going for it.  Though, if you’re looking for rarity, the F1 tranny does provide that here. In total, 2,577 GTS models were made from ’95 – ’99, with 2,048 6-speeds and only 529 had the F1 transmission.

So, there you go…a 1 in 500 car that just happens to be a Ferrari, and just happens to be the last year of the last true targas they ever made.  It has yet to hit 20k miles, and a major service with new belts was recently completed in 2015 at 18,800 miles.  The F1 clutch is presently at 89% life and it’s wearing new tires.  And it’s less than $100k.  Ignoring $10k engine out services and general invoice amounts associated with owning one, not sure what else you could want in a car.  Phil and I agree, the F355 is a top 10 Ferrari without a doubt…but I’ll raise you Phil and give it a top 10 of any car.  

Pricing is a bit spread out as you can imagine on these. Here’s a list of recent auction closings (ignoring Spider and Challenge editions):

  • $60,000 – 1998 26k mile coupe
  • $59,000 – 1995 31k mile coupe (not sold)
  • $49,000 – 1996 51k mile coupe 
  • $89,000 – 1998 52k mile GTS
  • $68,000 – 1998 18k mile GTS
  • $99,000 – 1999 32k mile GTS

*All photo credits to Ferrari of Long Island.  For more information, find the car here for sale. Second Daily is not affiliated nor sponsored by Ferrari of Long Island.

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