1988 Ferrari Mondial – Project Profile

Can we tempt you with something special? Something Italian? Something that is the embodiment of automotive soul? A car with a V8 engine powering the rear wheels, a slick – gated – manual five-speed transmission? A car with a mere 64k covered since 1988? A car with a history file so rich it contains all the service documentation, all the invoices and even the original bill of sale from, wait for it, Ferrari? Can. We. Tempt. You? Of course we can, especially when we tell you that this slice of Italian automotive history is just £17,996. There might be some work required before you can fully enjoy it though. But once it’s all done, the effort you put into this 1988 Ferrari Mondial should be worth it.

What is it?

As we just touched on, this is a 1988 Ferrari Mondial. It’s a convertible version, it’s one of 57 believed to have been built in RHD configuration, and it’s powered – potentially – by that 3.2 Ferrari V8 engine. On paper, it’s a magnificent thing, literally. The history with this car is plentiful, from the aforementioned bill of sale through to the original book pack, old MOTs and much more. Finished in gloss black with grey leather trim, it’s an unusual spec, as most were unapologetically red. There’s nothing wrong with red, of course. It’s just nice to see something different.

Why is it a project? 

Well, it should be fairly obvious by looking at the many pictures. This 1988 Ferrari Mondial is what could, in the most generous sense of the term, be described as a ‘fixer upper’. There’s the rusty body to contend with, there’s the very tired paint (of the paint that remains), there are the dents and dings, and then there is the small matter of the engine and transmission being in a different building. Literally. But the seller states they did put a battery on the car and the dash lit up and even, in the ultimate display of optimism, the electric windows worked. Bless them.

This isn’t, in any way, shape or form, a quick project. And if you plan to buy it and send it away to have all the work done by a third party, it won’t be a cheap one, either. However, at £17,995 it is worth a shot if you’re handy on the spanners and you can do some of the work yourself. The car appears to be complete, so if you can do the heavy lifting, the stripping and maybe even some of the fabrication work, leaving the paint and trim etc to the professionals, this could be a winner. It’s a rare care, it has low mileage, it has great history and it’s a RHD UK version. Got to be worth giving it one last shot of mechanical medicine, surely?

Five things to look for:

1) Parts

This 1988 Ferrari Mondial seems to come with a lot of unfitted/removed stuff, not least the engine. Have a sift through, see what’s there. You need to be able to retain as much as possible, as parts for these cars can be very expensive indeed. And don’t dismiss the broken stuff, as it can be used for scanning in the name of making 3D printed parts, for example.

2) Paperwork

The paperwork is what makes this car a really attractive proposition, so have a good look through it, make sure it all tallies up, make sure there is a full and complete story there that takes you up to the point the car was taken off the road 18 years ago. The history is what’s going to make this Mondial stand out from the others when it’s finished.

3) Rust

Apparently, this Mondial was taken off the road in order to repair one of the subframes and since that point, things sort of… escalated. But, that escalation means you can now have a good poke about. With the engine out, you can get deep into the car to look for any serious corrosion or holes. The external body work looks to be a tad crunchy in places, too. But don’t be scared. This Mondial has never been restored, so you hopefully won’t be unpicking past poor repairs.

4) Engine

Given the engine is on the floor and not in the car, checking it is going to be a breeze. Ideally, you want to make sure it still turns of course. Then check the general condition, check the numbers, look at the condition of the manifolds and the like, and be sure to inspect the loom and make sure it’s not been chopped up in the act of removing the lump.

5) Brave Pills

Look, we’re not daft, we know this is a huge project. It’s not going to be cheap, it’s not going to be easy, so you’re going to need to check your stock of brave pills. You will need many. But, just think of what the feeling will be when this is done! You’ll have restored not just a classic car, but a Ferrari. Your Ferrari. That’s got to be worth it, right?

What should you do with it?

Buy it, live a little, restore it, tinker with it, just use it as an excuse to tell people you have a Ferrari. As long as you do something with it, you’re never going to lose money on this. Mondials are on the up in terms of value. You could ignore the car and just rebuild the engine, get it to tip top condition and then sell it for more than you paid for the car. Let’s not forget, you have the paperwork and history to back it up. You could do bits and bobs on the car over time, each small improvement will make it better and make it more desirable. Yes, it’s a Ferrari, yes it’s a scary project, but it’s also a car from the ’80s, so it’s not overly complicated. It could be fun. It could be an amazing project. But only if you buy it!