UPDATE 5/23/218 – The frat house Ferrari has resurfaced on Beverly Hills CC’s website where they are asking $37,500.

FROM 4/23/18 – This 1984 Ferrari 308 – yes, the classic Magnum P.I. car – was discovered as part of a routine clean-out of a former frat house. As the owner tells it, the realtor didn’t know what the car was or the shape it was in, just that it needed to be moved ASAP. Imagine his surprise when he found this locked up below the house. The 308’s story is documented here on FerrariChat.com, but as you’ll soon see, it’s already looking for a new owner.

The owner did attempt to restore the 308, but even admitted as a Corvette guy, the Ferari wasn’t his first choice for a surprise barn find. The 308 had a damaged nose section along with poor bodywork on the fenders and driver’s side door. One pop-up headlight is missing along with the front bumper, but the owner was apparently able to locate some spares. Not long after, he let the forum know he got an offer he couldn’t refuse; now, the 308 is listed the Beverly Hills Car Club site for $37,500.

And really, who can blame the seller? Some of the message board members seemed disappointed he sold it along. But given it’s likely the now-previous owner paid a very modest price for the car and this one will require not-insignificant bodywork in the future, the offer from Beverly Hills probably seemed hard to resist once he began assessing Ferrari part prices and the cost of a proper timing belt job.

The detailing team at Beverly Hills worked wonders with the engine cosmetics, but this original photo tells the tale of how long it was neglected. With under 30,000 original miles and claimed two-owners-from-new ownership, this was indeed a memorable find – but one that would have cost well north of the likely sale price to restore correctly. Still, you never know what you’ll find in the basement garage of a frat house, so take that call if your realtor is on the phone.