It’s hard to believe, but even the once-lowly Ferrari 308GT4 is enjoying a bit of a resurgence in enthusiast interest. It’s a perfect cirlce, really – the cars everybody wants go through such dramatic price esclations that the lower-tier cars start to look appealing. This 1977 308GT4 here on craigslist just popped up in Los Angeles and is listed at a sensible $27,500.

Think that price is crazy? It may be, especially for a project that needs both cosmetic and presumably mechanical refurbishment. But if you’re antsy to put a genuine Ferrari in the garage, the price looks practically cheap! The interior doesn’t look damp or reeking of mildew, but the seats will need new upholstery at the very least. It’s encouraging to not see wires hanging everywhere under the dash and the stock steering wheel still in place.

Under the hood, you’ll find Ferrari’s first mid-engined V8, producing 240 b.h.p. in the American version. Wrapped up in a body designed by Bertone, I was never offended by the GT4 despite its reputation as a poor man’s Ferrari, a perception reinforced by the existence of poorly maintained examples languishing on craigslist from time to time. Certainly, more GT4s tend to pop up in forlorn condition than other models, but this one doesn’t seem abused – just forgotten.

Truthfully, I don’t think it has been forgotten for too long. The blue paint is a nice change of pace from the typical red, and the wheels appear unmarked and straight. It does appear to have sun-damaged paint on the nose and likely elsewhere given the condition of the interior. I feel the asking price is fair, but it depends on the scale of mechanical needs. People will do crazy things to own a Ferrari – would you?