360 - Are these auction prices real? | FerrariChat
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360 Are these auction prices real?

Discussion in '360/430' started by carguy007, Mar 30, 2020.

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  1. carguy007

    carguy007 Formula Junior

    Apr 24, 2013
    886
    #1 carguy007, Mar 30, 2020
    I was thinking of buying a 360 with salvage title for 38k with 50k miles as it was mechanically perfect and a really nice blue color. Had a history but I thought it was a great price for a turn key car. I told my buddy who works in the car business and he showed me auction prices from an auction called Adesa:

    2001 clean title 360 38k miles = $43k
    2001 clean title 360 80k miles = $32k
    2008 clean title 430 84k miles = $50k
    2007 clean title 430 11k miles = $86k

    This does not include fees or taxes but still...WTF. This seems super cheap. Maybe this is the market now.
    I am completely shocked. Are these real prices. I asked about the cars and he said they all in good shape. Can anyone verify this pricing.
     
  2. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    19,217
    #2 ttforcefed, Mar 30, 2020
    i have never heard of adesa. an 84k mile 430 is worth about 50k, and an 07 with 11k is worth about 86. the 360 prices look a little low but not by much....
     
  3. Skidkid

    Skidkid F1 Veteran
    Owner Rossa Subscribed

    Aug 25, 2005
    9,488
    Campbell, CA
    Full Name:
    John Zornes
    #3 Skidkid, Mar 30, 2020
    For wholesale auctions that is about right. Then again, people often confuse wholesale prices and retail prices. Licensed dealers pay cash and no fuss no muss. They take the risk on condition. They pay the holding, advertising, and sales costs. So no, it isn't the norm unless you are in the business. Same question gets asked about wholesale auctions all of the time and people assume they can buy from a private seller for that or even that less repairs. Doesn't really work that way.
     
    Texas Forever likes this.
  4. carguy007

    carguy007 Formula Junior

    Apr 24, 2013
    886
    #4 carguy007, Mar 31, 2020
    insightful - thanks.
     
  5. Zed82

    Zed82 Formula Junior

    Sep 28, 2017
    513
    Sweden
    #5 Zed82, Mar 31, 2020
    I have never seen a 430 for 50k regardless of miles.
     
    psych0hans and TooFast355 like this.
  6. Dean Palmer

    Dean Palmer Formula Junior

    May 21, 2010
    407
    St. Petersburg, FL
    Full Name:
    Dean Palmer
    #6 Dean Palmer, Mar 31, 2020
    For reality, look at the actual sales on sites such as Bring a Trailer or even Ebay. Many other actual auctions such as Barret Jackson and Mecum also list the results, but keep in mind buyers fees in those as well. There is no magical place secretly selling bargains :)
     
    Rifledriver likes this.
  7. 9650max

    9650max Karting
    Silver Subscribed

    Apr 28, 2011
    173
    #7 9650max, Mar 31, 2020
    Buyers fees are included in Barrett-Jackson and Mecum results so you are seeing what the buyer actually paid. As to other auction prices I regularly attended Mannheim auction in Pa.years ago and always studied previous results thoroughly. Inevitably when anything that I considered decent came up the bidding was quite a bit higher than my data. So all of my thoughts of bargain prices evaporated every time. To get something nice you had to pay for it. Big surprise, you get what you pay for.
     
  8. S F

    S F Karting

    May 13, 2016
    164
    Texas
    #8 S F, Mar 31, 2020
    Good info. Most of these will likely end up retailed at cost + $25k, which would put them in about the same area as most other cars currently for sale.
     
  9. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    19,217
    #9 ttforcefed, Mar 31, 2020
    there is a difference between a wholesale auction (manheim, adesa) and the retail auction (the fancy ones)
     

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