what is a 2001 360 6 speed worth with 18K miles Black tan daytonas service done clean car Real value in todays reality
The simple answer...who knows. two weeks ago that car would have been worth $100k. Today, could still be $100k, could be $75k, depends on who owns it and why they are selling. "Values" may be dropping, but people may just decide to hold instead. I think the 2010+ Cali/458/F12/FF and newer will see more of a hit. Different sellers/buyers. Just my .02
While this "event" has been unprecedented, based on conversations I have been having with people in the collectibles market (not jut cars). People are out looking for bargains and they aren't to be found easily. Unless you actually lost your job, people just are frozen and not selling anything. This has made some interesting conversations as the amounts that are being thrown out by sellers which would get them to sell now is higher than before the Virus. There is a general thought, why sell now if I don't need the money. Interest rates are so low which makes taking out a personal loan or small business loan more enticing than taking a loss on an asset that should recover when this is all over.
I personally don't think people on the level of Ferrari owners are going to feel a lot of financial pain from this crisis unless they actually get sick. We'll ride it out. Sure, our stock portfolios are going to take a hit but to the level of bankruptcy? Few will have to sell their most prized possessions. Why should they? If you own a Ferrari, you probably have a lot of financial margin. In the meantime, use your Ferrari as a mental health device. Drive the cheese out of it and enjoy the freedom of empty roads and occupied police.
I agree, use your Ferrari (or other sports car) for mental health. Even a routine drive to the bank is still fun in a Ferrari when you're stuck mostly at home. I also started thinking this morning how much money I'm not spending while on the "stay at home" order here in NJ. While I normally work out of the house anyway, so there isn't a commuting save, we canceled our cleaning people till this is over (Kids are home and they are cleaning the house weekly) and I am not going to the trainer at the gym 3x a week or buying $5 cups of coffee two times a day. Forget all the going out to eat and other crap I waste money on. Sure I'm still buying stuff on Amazon, but nowhere near what I spend normally on a weekend shopping.
The problem i see is some who own these cars are losing their ass due to their business being closed. You will see the price drop on the exotic maket for sure.
this could be a decent indicator (adjust for year) ... https://bringatrailer.com/listing/2004-ferrari-360-modena-9/
Not that familiar with 360 specific pricing, but I did a little poking around that website and a few others. Right now it's at 80k, isn't that the normal price for a car like that in that condition (scratched up underside of the front bumper, scratches on fender, no car cover, ...).?
I also just noticed this... so add 5% to the cost up to $5000 Buyers pay a 5% fee on top of the final sale price to BaT, with a minimum of $250, and capped at $5,000.
Auction just ended at $99k plus $5k buyer's premium. Very strong price I would say. I don't think model year matters much. Miles more important.
I tell you that a nice drive in your Ferrari really makes for a sweet escape during these crazy times. Might be a good time to be ready to pull the trigger if some inventory loosens up but others will be cherishing their goods more with all the stress out there.
IMO it's anyone's guess. And that's all it is, a guess. I'm betting most folks are simply in a holding pattern. A 360 owner may be more vulnerable to a "sale" in respect to the overall relative value of an average 20+ year old Ferrari-- gated or F1. After all, a gated 360 is one of the most affordable Ferrari models on the market today. Thus putting them in the hands of those that once never thought they could afford a Ferrari and given the current economic situation may now realize they can't as priorities shift to paying bills without a paycheck-- maybe for months yet.
The one on BAT yesterday sold for strong money IMO. However, there was an '06 430 spider that brought pretty weak money as have other Ferraris in recent weeks. Private sellers will try to hold on but dealers have to move the metal so I expect to see discounts in the next few months. Also, some owners will need to sell to fund business liquidity. There will also be fewer buyers in the market. People who have seen their nest eggs take a dump will not take money out of investments when prices are so low. In fact, some will consider selling cars which may have fallen 10% to buy stocks at a 30% discount. Even when the pandemic ends, parts of the economy are still going to be in the crapper (think energy and travel.) I was going to offer a Porsche this spring but will wait and see. When summer comes, I'll weigh what I can get vs potential investments. However, my 3 pedal 430 coupe will not be for sale. Dave
And there will be people who go, interest rates are at zero, Greta Thunberg's going to have cars banned soon, so let's get myself a great Ferrari at a not crazy price with a bit of classic/holding value. And there's your gated 360 value holding up.
Folks: talking about a sale in this week, this turmoil is a mute point. Sure, there are opportunists looking for a purchase or a sale, but if a gated 360 is pristine, not overly high miles, and maintenance is up to speed, $100k is the min I’d suggest. Selling now wouldn’t be wise for most things as buyers are scarce, but as with ‘09, things will bounce back.... Sent from my iPhone using FerrariChat.com mobile app
My beliefe is people looking to buy a 360 are not the same "class" of people buying newer more expensive cars. They are not leasing and writing it off as a business expense. They are not out there buying one because they have a really fat wallet. I would suggest they are a slightly older car enthusiasts who are finally fulfilling a dream. At least that was my case. Sometimes an event like this recent crisis or a healt scare to ones self or a loved one, is a wake up call that we are not immortal, and only getting older. You wake up one day and say to yourself "What the hell am I waiting for?" With that said, I see the market on these cars bouncing back with more demand than before within a few months of this outbreak ending.
Mimmo - agree on the buy side. Also suspect some speculator owners of gated models and CS and Scud...... will be over leveraged/spooked..... and will see some lower sale prices for a while.... all IMHO.
That recent 360 Stick on BaT was pretty standard. It had a unique interior that doesn't speak to everyone and a classic exterior color. If it had challenge wheels it would have gotten $5k more. I thought final price of $104k was pretty fair. I personally loved it, but if it were red/tan with challenge, it would have brought minimum $10k more.
It’s interesting. When I was shopping for my 360, gated was a mandatory, and after that color was a factor, but more importantly condition, care and mileage. Sure, the challenge grilles, fender shields, Daytona seats are nice, but I would have bought without those for the right car. Will red with beige, fully loaded with all the options in primo condition and mileage command top pricing, yes, but well cared for gateds to me will be cars coveted for years to come.
Ferrari 360s gated or not are not rare cars. With the 360, Ferrari entered an era of building relatively reliable cars that were produced in previously unprecedented numbers. As time goes by some prices will stabilize and others (not so well kept cars) will drop-- and I really don't think it will matter much which transmission the car has. Sure there will be outliers when it comes to selling price. But overall I suspect that there will be a waning interest in a stick shift car by all but only a few "old timers" (and I am one, and old timer that is) who still know how to shift gears. I have seen this pattern with many old cars and "collectibles" --- my business of 28 years centers on restoration and customazation. Once the few that have the want and means to purchase the top examples of any marque, the remaining examples seem to never achieve a repeat or duplication of those select cars' selling price. To add, when the 458 and subsequent models age and price depreciate, I suspect the interest in an average 360 stick car will also wane. Moral of the story: Buy what you enjoy. Maintain it properly. Drive it hard and often but don't abuse it ---and put a piece of tape over the odometer.
