California T depreciation speculation? | Page 2 | FerrariChat

California T depreciation speculation?

Discussion in 'California/Portofino/Roma' started by letsplay99, Feb 12, 2014.

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  1. Balsamina

    Balsamina Formula Junior

    May 19, 2010
    927
    San Francisco Area
    Full Name:
    S
    Congrats! Are you getting another Rossa Mugello Cali, this time without shields? :)
     
  2. not4one

    not4one Formula Junior

    May 23, 2010
    887
    CT, FL
    A good memory Balsamina! I mentioned to my wife..."this time no shields"...she looked at me with a puppy pout, so we'll have to see! Mugello is indeed on my mind, on the other hand I thought the blue launch color with the choco interior looked kind of interesting in the pics. Hmmmm decisions, decisions.
     
  3. Royalpar1

    Royalpar1 Formula 3

    Oct 18, 2013
    1,767
    South Florida
    Full Name:
    Mitchell Lombard
    You must get the shields, the effect no shields has on resale is much greater than the $1600.00 IMHO
     
  4. not4one

    not4one Formula Junior

    May 23, 2010
    887
    CT, FL
    I've had shields on my two previous ones for that reason, but always felt like a lesser man (in comparison to Balsamina) for being such a sheep. The depreciation feels like a small price to pay for pride! (Particularly after just trading in my 458 with the "historical color" option...guess how much you get back for that option at trade-in.) In any event, not saying I won't swallow my pride again and get shields...but it'll be to keep the home life happy!
     
  5. Royalpar1

    Royalpar1 Formula 3

    Oct 18, 2013
    1,767
    South Florida
    Full Name:
    Mitchell Lombard
    I was at Palm Beach Ferrari aprox 3 months ago. They had a wonderful 430 fully done, but without shields, the salesman stated he could not sell the car without the shields. He had it 9 months. Swallow your pride, and never get mad at your money. :)
     
  6. jumpinjohn

    jumpinjohn F1 Veteran
    Rossa Subscribed

    Mar 22, 2013
    6,765
    Texas
    Full Name:
    John
    Oh, the puppy pout can render you completely defenseless... :)

    I would prefer no shields because I think they look a bit pretentious, but I have heard too many times that it will make the car very hard to re-sell. At some point, I will want to sell it I know, and since I have no experience with Ferrari prior to my Cali 30, I have to rely on the group here for guidance. So, I will probably get shields when I order the T...
     
  7. not4one

    not4one Formula Junior

    May 23, 2010
    887
    CT, FL
    True dat!
     
  8. ibkorn

    ibkorn Rookie

    Sep 20, 2017
    7
    Full Name:
    Ira Kornblatt
    What will the depreciation be on the Portofino?
     
  9. 95spiderman

    95spiderman F1 World Champ
    Silver Subscribed

    Nov 1, 2003
    15,057
    ny
    Portofino is clear winner in its segment vs aston, Bentley, amg, etc. I think its value will hold similar to mid engine Ferraris. its a winner
     
    uhn2000 likes this.
  10. MDEL

    MDEL F1 Rookie
    Rossa Subscribed

    Feb 24, 2016
    3,557
    Southern Europe
    Full Name:
    Mario
    Recently I had a look at the second hand prices of the original California in Europe and for cars 20 K to 30 K Kilometers they range from a minimum of Euros 100 K (2009/2010) until Euros 180 K (2014). The prices are holding extremely well and not very different from the ones quoted by the end of 2015 beginning of 2016.
    Considering that the Portofino has the same versatility as the California but is a completely new model with many improvements and an extremely good receptivity in terms of aesthetics, I'm convinced it will be one of the Ferrari models with less future depreciation.
     
  11. nextceo1

    nextceo1 Karting

    Mar 13, 2017
    76
    For all you owners with a Cali T, you might want to turn your head...a 2017 sold at Auction after the announcement of the Portofino for $183,000.

    Image Unavailable, Please Login
     
  12. azlin75

    azlin75 Formula Junior

    Jul 16, 2017
    785
    Kansas
    Full Name:
    Shawn Hicks
    I expect that Cali prices to depreciate at an accelerated rate for the next few years with the announcement of the Portofino. The week following the release of the Portofino I watched prices move quite a bit, with at least 4 in the 2010-2011 range priced below $100k at Ferrari dealers, and all 4 qualified for the extended power warranty. So it doesn't surprise me that a 2017 sold under 200k. How low they may go is anyone's guess, but the gambler in me is willing to bet in 1.5 to 2 years we will see most 1st gen Cali's 65k to 100k or similar to 360's are now, see most Cali 30's about where first gens are now 90k to 120k and most Cali t 140k to 200k.

    After that Id guess they will start to appreciate to levels about where they are now or a bit higher.

    I also noticed that until the announcement, 2010-2014 Calis wernt moving a lot, with several examples being on dealers lots over 100+ days and some moving around sister dealers quite a bit. After the announcement I have noticed more of them moving, for example all 4 of the sub 100k cars offered by Ferrari dealers sold in less then 45 days. that might be the fly in the ointment as to my guess on where prices go since the more they move the better they will retain value. And it is after all the end of the "driving" season so its not unusual to see prices come down and some to start moving but it appears, at least to my untrained eye, they are depreciating more and maybe moving a little more then "normal" what ever that is in exotic/semi rare cars.

    So it might be a great time to buy a California. If what im thinking is right I will probably get way more car for less money. But its all just a big guess in the end. Prices will be what they are and ultimately Ill have to decide how much im comfortable spending.
     
  13. 95spiderman

    95spiderman F1 World Champ
    Silver Subscribed

    Nov 1, 2003
    15,057
    ny
    isnt manheim wholesale pricing? have to add in significant $ to private and then dealer retail pricing
     
  14. nextceo1

    nextceo1 Karting

    Mar 13, 2017
    76
    Thats why I said "for owners of Cali Ts, you may want to turn their heads"...thats the price they should currently expect to receive when trading in their cars. For folks looking to buy a 2017 Cali T, you should expect to pay around 200K.
     
  15. good2go

    good2go Formula Junior

    Feb 9, 2016
    939
    Options are important on a Ferrari. What options are on a car that sells for $183K
     
  16. 95spiderman

    95spiderman F1 World Champ
    Silver Subscribed

    Nov 1, 2003
    15,057
    ny
    options dont really add comparable value to used cars. loaded cars are for enjoying not resale value
     
    PhantomCypher likes this.
  17. nextceo1

    nextceo1 Karting

    Mar 13, 2017
    76
    Yep, Spiderman is correct. The options might add another 3-5K but honestly, thats about it. Assuming the average 2017 Cali T had an MSRP in the Low 240Ks, they've lost about 25% of their value in less than a year. Thats what a new body style will do to a Luxury Item. See it with watches all the time too...the wealthy want the latest and greatest....which benefits those of you looking for a Cali T and dont mind having the older body style. Personally, I think the Cali T is awesome looking...with that said, it would have to be a Turbo Version if I bought one...cause the Non-Turbo sounds super weak...
     
  18. ibkorn

    ibkorn Rookie

    Sep 20, 2017
    7
    Full Name:
    Ira Kornblatt
    Any idea on when the Portofino configurator will be up?
     
  19. tomc

    tomc Two Time F1 World Champ

    Apr 13, 2014
    25,865
    DFW, Texas
    Full Name:
    Tom C
    I asked the same - and the guesstimate was 3 weeks. That was about a week ago.
    T
     
  20. uhn2000

    uhn2000 Formula 3

    Oct 15, 2011
    2,108
    Toronto
    Full Name:
    Joe
    Hope your a little wrong, I am asking a fair price for our consigned car CalifTHS, one of the nicest I have seen in a while :) Anyhow only time will tell where things go, the Portofino is going to be in high demand and not in North America for a year so the Cali values won't crash as much as we are all predicting.

    Sent from my HTC 10 using Tapatalk
     
  21. azlin75

    azlin75 Formula Junior

    Jul 16, 2017
    785
    Kansas
    Full Name:
    Shawn Hicks
    thats why I figure the big drop wont be for a year and a half to 2 years. But it seems used prices are falling across the board recently not including usual decrease in prices due to winter. And there was a pretty decent price drop in 2014 and older California's directly after the reveal of the portofino and im sure 2015 to current took a hit as well but I have only been tracking 14 and older Cali's. California's might recover a little bit if people buy them used to get bumped up in line to order but once the Portofino hits the states i expect to see California prices take a hit as those that are in California's move up to the Portofino and more California's flood the market. I dont think they will be down for an extended amount of time though. Will be good for me since that fell into the timeframe I already planned to purchase a California, so im hoping the Cali 30 will be in the range of my set budget and im betting 50/50 they might be.
     
  22. DavidJames1

    DavidJames1 Formula 3

    Mar 6, 2010
    1,678
    Bangkok, Thailand
    The concept of a fair price is an interesting one and generally not the same for buyer and seller who each have their own idea of what "fair" is. As sellers we do it all the time - this is what we paid, it's great etc. etc. but ultimately, like all markets, it simply depends on what buyers are willing to pay. Given a new model with greater performance etc., there will be an impact on used prices - that impact may be as foreseen by wishful thinkers but, typically, it may not.
     
    of2worlds likes this.
  23. uhn2000

    uhn2000 Formula 3

    Oct 15, 2011
    2,108
    Toronto
    Full Name:
    Joe
    Totally agree, I will report back soon enough on what happened to my car.
     
    of2worlds likes this.
  24. nextceo1

    nextceo1 Karting

    Mar 13, 2017
    76
    Update in how the Cali T's are doing at auction...2016 sold 4 days ago...note on this one...its condition was a 3.9. 5.0 means perfect.

    Image Unavailable, Please Login
     
  25. wrs

    wrs F1 World Champ
    Owner Rossa Subscribed

    Jul 11, 2015
    11,921
    Lakeway, Texas
    Full Name:
    William
    So the car has 618 miles on it and condition is 3.9/5.0? Seems wrong to me.
     
    uhn2000 likes this.

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