The rub is... you are driving a car with 3-pedals and a stick.. or.. you're pulling paddles. It's one experience or another. Enough new Ferrari buyers have decided that they don't want to row the gears that Ferrari stopped making them. So.. if a person wants the 3-pedal experience from a car made after 2000 it's a 360 with 3-pedals and a stick or a 430. I was just out in mine this morning rowing through the gears and as fast as the paddle experience is, there is a special magic to rowing through the gears feeling absolutely at one with the car with each shift having that metallic click. It's an individual decision for that person and the market will determine the price of it. I don't think Apple stock is worth the price it is.. but the market don't care about my opinion..
Or, manually blipping the throttle on F1 downshifts,which the DTC can’t do, which is equally magical .
If I read him correctly, 550nitis wants to buy a 360 but thinks they are too expensive. Every month or so I read a post from someone who wants to sell his 360 but thinks the market has dropped and 360s are now too cheap. I really appreciate the comments of others on the forum, and I always learn things. But I think we are all subject to confirmation bias and tend to see prices that reflect our preexisting opinions on what the price should be. There are several sources that try to provide objective data on prices, which I think are less subject to bias. This does not mean they are not subject to criticism -- I think there are a number of valid concerns about the process, not the least of which is that there are not a lot of these cars around. In general, however, I trust the sources that try to collect data more than our collective anecdotes. I think Ferrari Market Letter is a great resource, for example, and I often encourage people looking to buy or sell a 360 to subscribe. It has great information. Again, you can point out concerns about its methodology, but I think it has been around a long time and is about as objective as one can get. In that regard, their data suggest that an F430 is not just "a few grand" more than a 360. The average asking price for a 430 is consistently and substantially more than that for a 360. The average asking price for both models has been relatively flat for the past three years, with the 430 going up slightly and the 360 going down slightly, but both now are within roughly 5% of the asking prices from three years ago. In my book, that is "flat." Interestingly, the premium for a 360 Spider over a 360 Modena is significantly greater than the premium for a 430 Spider over a F430 coupe. Basically, in my opinion, these are great cars that are holding their values very well. Those of us who have one are fortunate to be able to drive and enjoy them!
Aldous Voice as just published is "AV Engineering Market Values" for June: https://aldousvoice.com/2018/06/12/av-engineering-market-watch-june-2018/ As always it is well worth a read, although his data may differ from U.S. market trends. He notes, "Very little has changed since last months update – Ferrari 360 asking prices are broadly unchanged." Ferrari Market Letter also has published its most recent edition. It is well worth a subscription. It also suggests 360 prices remain flat, although slightly down over the past 6 month to three years.
Sale of the year.......https://bringatrailer.com/listing/2000-ferrari-360-modena-4/ $96,000.00 ALL IN
Nice. I feel good about my purchase: 2001 gated rosso fiorano 19k miles stock 4 owners. Considering my trade-in I paid 80-90 (dep on how you value my trade). Then I've done $6K of major svc, tires, detail, alarm module, blinker relay, water pump .... so I'm in the ball park, and just LOVE my gated 360 modena.
This is interesting... I was just doing a cars.com search and I noticed original NSX values have blown up. $60s for high mileage and well over $100k for the pricier ones. Now... I’ve always loved the (non-hybrid) NSX, it’s one of my favorite cars of all time. But if the price is compareable to a gated 360? I’m going with the Ferrari 11 times out of 10.
I did not notice NSX prices had gone up so much, thanks. I can't imagine them going for what my 360 stick is worth. Not for me, anyway.
I agree, I own both and the 360 is much better Maybe it will help bring the prices up a bit in the near future
Seems to be a huge disconnect between what the cars are worth and what dealers are offering to buy for. One dealer acknowledged that the market for a clean-title, good condition 360 F1 was $64-68K, but said wholesale was just $53K. Another said average wholesale price was in the 40s. Both of these were reputable, respected dealers, so it's really puzzling!
I don't find roughly 20% mark-up for buying/carry, marketing, selling and maint (if any needed) to be out of line. Could be a few points off, but certainly in the league. Not many businesses attempt to survive on sub 20% gross margin!
There appears to be a seismic shift in car values, and I believe that the introduction of electric vehicles can not be ignored as a cause. To witness the acceleration of a Tesla was a real eye opener for me. The needs and wants of the millennium generation also has a bearing on what the future desirability of certain "stuff" will be. These folks and their children shall self-direct what manufacturers will be selling, and it is clear that electric vehicles are the future. These changes do not bother me, and I am unconcerned that I may be a dinosaur in this new electric vehicle world.
Funny you say that. I looked all over for a 360 Spider F1 in good condition. Found one over 2000 miles away and paid well over that for it. At least from my buying experience, I have never seen a decent spider go for less than 70? In fact a friend of mine just sold his for about 80, and that was this summer. But who knows. I'm sure someone will tell me they got one for $55k haha. I'd be pretty jealous at that, but it is what it is. I'm quite surprised that the spiders are so close in value to the coupes. When I was looking, spiders seemed to be a 10-15k premium over the coupe in every instance. Coupes seem available like crazy in the 60s and low 70s, and the spiders are in the mid to upper 70s and 80s? Anyone know what "Good, Fair, etc." actually mean? I assume mines fair... but maybe I don't know how to judge them based on hagertys world. I assume fair = good overall condition, fully serviced, but high mileage into the 20s, but may have slight imperfections like rock chips and such?
Usually the lower price ones you can see right away they have aftermarket wheels, stereo, etc in the pics.
Hagerty is pretty clear about what the conditions are supposed to mean, but I still find it hard to guess where an individual car should be. I think most of us would think our car is a #2, when in fact it may well be a #3. One interesting thing to note is that the price difference in Hagery between the conditions for the 360 tend to be much less than on other cars I have owned. I'm not sure what that suggests -- perhaps that all Ferraris are reasonably maintained? Beats me. Anyway, you asked what the different conditions mean; here is what Hagerty.com says: Condition Ratings #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours." #2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is "excellent." #3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. "Good" is the one word description of a #3 vehicle. #4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. "Fair" is the one word that describes a #4 vehicle.
The new issue of Ferrari Market Letter is out, with an interesting market review by Jim Weed, the editor, before the Monterey auctions. If you subscribe, you should read it! (If you don't subscribe, you should.) He states that in the Ferrari market generally, prices have slowly come down since 2014 to a gradual 20 percent loss in value. He guesses that we are now at a market bottom and that prices are going to start going up again. If this is correct, the 360 market has done better than the Ferrari market as a whole -- their Asking Price Index is still basically flat since 2014 (down some, but generally fluctuating within about 5%). The 430 index has gone up! Interestingly, the Market Letter Asking Price Index shows a premium of almost 25% for a 360 Spider over a 360 Modena, but a premium of less than half that -- about 12% -- for a 430 Spider over a 430. Again, Ferrari Market Letter is a great resource for our cars and the Ferrari market in general, and I recommend a subscription. Hagerty should come out with its revised index next month. It will be interesting to see what it says the trends may be.
Hagerty's September 2018 Indexes and analysis are now available on their website: Hagerty.com -- as an example, my Condition 2 (if I'm lucky) 2003 F1 Spider is within 2% of its index value from this time last year, and has been perfectly flat for the last three indexes. Check out your car, if you are interested. It is a free service of Hagerty. They update indexes three time a year and September 2018 is their most recent update. So, the 360 still looks pretty flat, but apparently it is not the only one. Hagerty's Brian Rabold writes, with regard to their Ferrari Index more generally, "For a full year the Ferrari Index has seen only the smallest of changes. Given that the marque from Maranello is typically one of the first segments to appreciate and also one of the first to fall in value, the market has clearly settled into a slumber it hasn’t experienced in over a decade."
Old thread but curious thoughts on the bump in value inJan- May. BAT/Covid effect? Image Unavailable, Please Login
