The 1988 Alfa Romeo Spider Graduate sold for $12,372, and that’s strong money — it went for 38% above fair value.

This Spider Graduate is a charming piece of Italian automotive history. It features a 2.0L twin-cam inline-four engine which pairs nicely with a five-speed manual transmission. This setup delivers an engaging driving experience, especially with its rear-wheel-drive layout. The car has seen 78,000 miles, and while that’s not definitive proof of its condition—since the mileage is labeled as TMU (True Mileage Unknown)—it’s still the right spec for many buyers who value the manual transmission and classic convertible design.

Now, let’s talk about that price. With 28 bids, it’s clear there was some excitement around this car. But despite the bidding frenzy, the final sale price of $12,372 feels inflated compared to the fair value estimate of $9,000. That’s 38% over, which raises eyebrows. Sure, it has a new soft top, reupholstered seats, and flashy 15" Rota wheels, but you’d expect a more conservative price in the current market.

The community reaction was largely positive. One commenter, @Mprovidente, congratulated the new owner and noted, “You are going to get so much joy from this machine – so much bang for the buck!” It’s a nice sentiment, but the reality is the joy might come with a side of buyer’s remorse if the market shifts.

For those on the hunt for a similar Alfa Romeo Spider or any classic convertible, keep a keen eye on the car’s maintenance history and any modifications. Check the specifics of the mileage, being cautious of TMU designations. A well-documented service record can justify a higher price, while a lack of documentation may indicate potential hidden issues. In this case, while the buyer might enjoy their new ride, they paid a premium that could have been avoided with more market savvy.

See all Alfa Romeo 105/115 Spider Series 3 listings on [Friday's Watchlist](https://fridayswatchlist.com/search?make=Alfa%20Romeo&model=105/115%20Spider%20Series%203).