360 F1 Spider all time new low price sold at $99k

The front bumper paint looks very odd.

 

I've got that same color (Grigio Alloy) on mine.......... the light makes it look VERY different
depending on whats refecting off of it. (I looked at some of the others, especially the straigt-on
pic and that looked ok).

 

An 03 Spider with 3,500 Miles, that is an outstanding price.

 

Prices on spiders have collapsed far beyond my initial prediction.


http://www.ferrarichat.com/forum/showthread.php?t=207161

http://www.ferrarichat.com/forum/showthread.php?t=184112&page=3


My prediction is they will fall even further yet...no bottom in sight.....free fall.

 

yeah that's right lenny they will eventually be paying YOU to buy these cars.. no bottom on sight.. free fall...

god the bull**** never ends on the internet..

 

Are you posting from your garage in denial?

 

Actually, if prices get any cheaper you'll be seeing rich kids driving them to high school, just as daily drivers.

 

Was this a Euro model? Lot of those in FL.

 

Boy if I had Ferrari to drive to school in high school....what I could have done!!! Actually I was such dweeb that even a Ferrari wouldnt have helped!!!

 

Here's a good '01 driver for $89k


I bet $79k plus tax steals it.

 

If I had a Ferrari in High School I'd be dead--too much power, not enough sense, sprinkle in a dash of testosterone, a cheerleader watching = disaster.

There obviously is a bottom for these cars, but the smart money is on the fact that we aren't there yet.

The more interesting argument is what is going to happen as these cars sink in value. There are several points (and I'm sure many more), but:
- this opens the door to modern Ferrari ownership to folks who were priced out of the market before,
- as these get cheaper, I fear that the quality of some dealer experiences will decline (meaning a greater percentage at less than scrupulous dealers),
- for those who could afford them before the collapse, but were perhaps interested in keeping them pristine, these prices will open the doors for some to use these as more daily use cars (which always could be done, and some did).

 

That's my plan. I will personally be responsible for 30k+ miles when all is said and done. Why not? Rules of ownership and standards of the past must give way to the new. You must enjoy your surroundings first, to enjoy a piece of work like any Ferrari.

Prices are definitely shrinking. But for some, this is good news and will be great timing...

 

i just bought a 01 with 13xxx miles for 90,000 and i thought i got a great deal! imo, 03 with 3k for 99,000 is a STEAL.

 

not at all.. I got a decent deal the time I bought mine and I am happy with it.. I can also care less what they cost in the future..
buying a ferrari 360 is only a portion of the ownerships expenses.. you still are paying for the services which are expensive also..

what I am trying to say here is that saying there is no bottom for these cars is ridiculous..

And I didn't buy a freaking ferrari to try to nickle and dime the bloody thing.. Personally I think the fact that 90% of these posts on this freaking forum that discuss the value of used cars is boring and annoying.. And goes to show how few people post here are actual owners..

Can we talk about something ELSE?? you know like the CAR itself?! every other post is about gloom and doom of the used value, not only the 360 but all models.. Listen guys, the economy is in the ****ter, people can't get cars loans.. ALL cars are taking a hit.. especially exotics.. have you seen the gallardo's and aston's online lately? 20-30k+ across the boards (just like ferrari) have lost in value due to the economy..

Ferrari used to be about the experience and the enjoyment we all get out of the car.. I bought mine w/ 6k miles and I plan to drive it to 36k before I consider selling her.. maintenance costs and value loss mean nothing to me and everyone that is so obsessed with that purchased the wrong car..

It seems to me that many of the people that go on and on and on about values don't even understand the concept of these cars.. Enzo would be rolling in his grave..

 

If this forum allowed a + reputation point to your profile I would rep you. Couldn't agree more with that post, it is almost annoying to see these threads.. I bought my 360 before the fall and the loss in value is what it is. I bought the car because I had always wanted one not because I was going to count how much the car was going to cost me.

 

I want to respectfully take a different view. I do agree with you that there are a lot of "doom and gloom" threads, but to an extent these reflect both the reality of car prices and the reality of the economy. I really can't speak for anyone else, but let me speak for myself.

I own no Ferrari currently, but owned three of the last 6 years.

I was in the buy one, sell it back at minimal depreciation, buy another loop. That's gone. While I can afford most new or used F-cars, I have a price sensitivity, and the current Ferrari pricing climate is a good thing in terms of me owning another one. I feel better about buying and driving the stink out of car at the current price points. I've done that with my Cayman S, I've done that with my Lotus Exige 240S, but I was not comfortable doing that with my Fcars. They weren't babied, they saw the track, but I watched my milage, avoided driving them in rainy weather, etc. The short point is that I can afford to drink vintage champagne (and do, on occasion) but I also enjoy an Italian prosecco.

As to the concept of these cars, they mean different things to different people. But to many, the excitement is the key. All things being equal, I'd rather pay 80K for that versus 160K.

You have stated in previous threads to "buy it and enjoy it now". While that certainly makes sense on one level (we never know when our number is up), it is currently snowy and rainy in the Pacific Northwest. So I am happy to wait until spring to make a purchase. And it is very, very likely that prices will go down. Hard not to like that.

 

I've read a few of your reactions to the so called gloom and doom posts. I assure you that your response posts are equally as boring and annoying.

So are you one of the few actual owners on this site then? Well let me congratulate you on owning a ferrari. You have certainly arrived, the man of the hour.

Pano, what would you like to talk about? I for one find it interesting to talk about the ferrari market. But since you find it so annoying and boring, I shall immediately cease and desist. It is after all your forum right?

Merry X mas

-Peter Oh

 

I'm posting what I like to call "my opinion" on a public forum.. and I am not attacking or insulting you per se.. if you reread my post amigo you will see I am complaining about the "gloom and doom" posts and not insulting the poster in question..

where as you feel the need to attack me as a poster.. which is of course.. stupid as all hell..

Where did I say it was an achievement to own this car? Where did I ask for a pat on the back.???

All I really said was that I would like to discuss the cars themselves not the COST of these cars.. and I made the point that is not what enzo cared for either.. I also said that the money should not be all that matters (in regards to a FERRARI, not a honda) These are the points I was trying to make.. and while I seem to think most people understand this..there will always be uptight insecure who assume I am saying something I am not..

I'm bored with the posts that discuss cars values (which consist of 85% of the new posts on this forum), and you are bored of me.. I can accept that..

hugz and kisses

 

Hmmm--temporary ban coming?

I think the point is (to the most recent posters)--some of us find pricing posts entertaining. Also informative, as some of us are in the market. I haven't counted, but it seems at least be thread topic (over the entire board) pricing posts in no way dominate the discussion. Sure, they may be more prominent as of late--as there is a significant delta occurring monthly in pricing.

To Mamo: I bought the Exige this summer, it is worth a lot lessknow. Hang out on a Lotus board to read how prices on these cars have been hammered as well. Would I trade my fall trackdays in the Exige to have the depreciation back--no way? BUT, if I had a friend looking for a Lotus, I would tell him/her to read every pricing post, and to hold off buying a car now as there is still downside potential in these cars. It sounds to me like you are using certain other arguments as a cover for taking some of the pricing posts personally. You bought a car (I believe), the value got hammered. As they said in Animal House "You f'ed up, you trusted us". Now is time to get over it. If you don't like the posts, don't read them.

 

My view is simple. Post what you want read what you want.

As for me, Ferrari's problems are relevant to the value of my car, purcahse of my next car, and Ferrari's business plans going forward, i.e. they have let go a fairly large number of employees, and closed the factory longer than usual. Additionally, with reduced profits there is reduced production, which may mean that fewer 430's will be produced and their hopes that the California will make a difference becomes that much more important. Finally, the 430 replacement will probably be further down the road (so to speak). Again, no axe to grind. Best

 

as a previous owner of both an elise and an esprit.. I am well aware.. and I didn't complain either when they sold at major loss.. I go in with my eyes open and go out with them open

 

I like the posts about the current market conditions because as those change (as in prices going down) I get closer to being the owner of a "modern" Ferrari. I could have bought a 400i already, but have hesitated. I need to see/hear/feel one in person before I plunk down money on a car that is likely to cost more to own than my beloved 928's (and maybe by a long shot if I don't buy well!)

I LOVE the 360's...I think they are prettier than the 430's and while not as fast they are cheaper by miles and I would LOVE an F1 Spyder at some point, so seeing a VERY LOW mile, pristine example go for under $100k warms my heart. Maybe by the middle of next year they will be down into the $80k range for a good driver...NOW WE ARE TALKING!

Of course another car is starting to look good and get down there in price now too... 575M F1... No convertible though...well, not one that would be affordable anyway!

Looking forward to my first Ferrari!

James

 

my feeling as well.. I want to hear all opinions.. but I reserve the right to throw in my opinions without getting a personal attack from in cali..

 

I might as well toss in my opinion too (I own a 2004 360 F1 Spider which I really love and wouldn't think of selling), anyway, as with almost every other asset class in existence today from stocks to houses and yes, even to fancy cars, if you see one for sale it is because the owner HAS to sell it, not because they want to sell it. If someone has the staying power they will just hold on and enjoy the asset and not sell in a very strong buyer's market. If you are a buyer, WOW! now is the time to start looking and negotiating from a position of strength. Remember, you don't have to buy the guy but they have to sell it or it wouldn't be on the market right now (IMHO, your mileage may vary and of course there are always individual exceptions to a general rule)
Merry Christmas!