Pricing with Current Economy

Lusso is now just sub £150k so ffs have to be lower, the ones under 100k are the earliest cars mind

 

Good point. Lusso's dropped at an amazing rate post summer.

 

I actually find them very good looking. I'm not quite sure what I thought of it when they first came out but when I first saw one in person I absolutely had to have one. Such road presence, I love the interior, the noise...the speed! Very usable car.

 

Lusso is going to be an excellent value buy soon, just saw one for £145k, when they hit £120k it's just a no brainer to me, pick it up and drive it forever

 

Absolutely...as I'm not sure it's replacement will be a V12 making it even more special. I love everything about FF/Lusso (so long it's the V12).

 

I got the 458 to my house yesterday. Wow, what a difference from a 430.
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Great spec, well done! I'm sure you'll enjoy it a lot.

Friend of mine who made the similar step from 430 to 458 all said as if there are several generations between the two, that's how much performance difference there is.

 

Thank you, sir. It seems as though there was a pretty large leap in every aspect of this model. I owned a 430 for 3 years and besides the obvious difference with the DCT transmission, I find that fit and finish, panel gaps and other elements of the car move the goal posts significantly. I thought that the 430 was a really cool ride, but this model represents the kind of progress that builds continuing confidence in Ferrari working to make a better, more reliable car.
Having said that, the 275 GTB, Dino, Daytona, Boxer, etc. are amazing vehicles.

 

Exactly. Lots of 458s for sale. Most will not want to take a loss and will hold on to them. But with that said I'm sure there are some who are over their heads and need to sell or soon will need to sell. And with the number of 458's available the market may produce a few great deals to be had.

 

The same was said about the last air cooled 993. Still waiting for "skyrocketing" on that one. The last air cooled 911 was made over 22 years ago. "Skyrocketing" of the early 911's, sure. But those are cars that are over 50 and 60 years old.

 

Agreed. Just "opening up the country" is not going to magically cure all things financial. The gears of the economy turn slowly, but they do react --and turn-- and in this case I predict downward.
Probably will effect the Ferrari market. How much, anyone's guess.

 

So true. Ferraris are used cars. All used cars devalue over time. A 5-10 year old Ferrari is not a collectible. Stubborn sellers may likely have their cars occupying space in their garage for a long time.
Just ask a Harley Davidson owner about the current Harley market. I know quite a few with a bike they don't ride but refuse to take a loss on. And have had it sitting for literally years.

 

Huh?A 993 Turbo S, will cost you over $200k today and all the 993s, 964s and my gen 3.2, have taken off! I bought my '84 Targa back in '11 for $17k, now I can easily ask high $40s. I've been in the Porsche world for almost 2 decades, so pretty well plugged in. Here she is!
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Your analogy is off. 993TTS is very rare and they can bring over $400k. 458s are plentiful.

 

I've been in the "Porsche world" for two decades longer than you have and have owned a bunch. High 40's for your Targa is questionable. My old 1995 993 that I owned for over 17 years with less than 50K miles on it-- and is the last, and by most folks thinking, the best of the air cooled recently went for 60K on BAT. It was virtually flawless, well maintained, and of course garage kept. I sold it with the original window sticker showing the sticker price at about $62,000. Great that it held it's value all these years, but "skyrocketed" in value, nope.

A large part of the appreciation is believed by most in the PCA , due to the fact that the cars have always been undervalued from new.

good luck with yours.

 

I couldn’t agree with you more. It’s like night and day. I felt the same way when I got mine. Don’t forget this rig has 7 gears. When I drove mine off the lot I had no idea and to my amazement there it was 7th gear lol. I called the dealership and my salesperson was hysterical laughing at me. Oh well enjoy your new rig , safe travels and all best , Kirk.

 

Some here get mad when I compare Ferrari to Harley Davidson. But I think Harley is further down the declining wave than Ferrari is. You can ride a cresting wave for only so long.

When was the last time Ferrari won F1?


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It will be interesting to watch the pricing on 10 year old and newer Ferrari 458s. The difference as I see it is that Harley was (and still is) a mostly lower middle class affordable motorcycle (no disrespect intended) Whereas the a 458 Ferrari is not. So with that said, most folks have just had to let the dream of owning a Harley be postponed-- or worse have given up on it.

But let's be honest here at $150K plus for a 458; most working folks are not in that market. The monthly payment (if they can qualify) is going to be astronomical. A friend of mine closed his boat business and told me the 30 something with a wife and 2 kids simply cannot see their way clear of an extra $400 a month for a boat payment-- and that was 10 years ago! Has anything changed?

So the question is twofold for me: First, will the economy be able to support a wide band of those who can afford to spend $150K plus on a Ferrari, and Second; is there enough interest in the cars in general to keep finding new homes for the used ones. It has been mentioned here before that there are a bunch of 458's for sale right now. As I follow the market pretty close, not many are being sold, and fewer are showing a great reduction in price. Interesting stand off. Will the sellers blink or will the market get better? So far, for me, IMHO, the sellers are going to have their cars for some time unless the pricing gets much, much lower. Of course there are those who can drop the bank on a 458. But will there be enough of those folks to keep the cars moving into new garages? I tend to believe they are few and far between those who cannot.
Thankfully I have no interest in resale value of my car (F1 360). It's a very nice car but the market would probably be very unkind to me in regards to what I paid for it three years ago.

 

Different market segments, although $40k is a lot for a motorcycle, but similar motivations. Both Harley sell for premium prices due to their branding. But at some point, increased production leads to price pressures, particularly when the quality control is missing.


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Look at the millennials or the snowflake generation:
cars are not that important anymore and ICE are ‚destroying’ their future so if depreciation is in your mind regarding your cars - sell it now - fast - run!!!

Imagine an 18 or 80 year-old is crashing into your car while you‘re stopping at the traffic light - then you‘re pretty f***ed if depreciation is a problem for you.

If the prices coming back to real life I would be really happy cause the market will go back to real enthusiasts.

A friend of mine has a F40, F50, Enzo, 812SF, Lusso, Portfino and a Pista spider of which he couldn‘t tell me the colour - silver or gray he said and when I asked how is the feeling of driving the F50 he answered ‚I have no idea - why are you asking?“


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grigio titanio is such a classic beaut!

 

Good points. My soon to be stepson is 22 years old. He doesn't care to have a driver's license.
And yes the guys will all the $$$ seem to just buy to have not to enjoy. Which will still be the case with some of the Ferraris. But of course not all used Ferraris.

I too believe there are more Ferraris than qualified buyers and it's only going to get worse as I already see some 360s that I looked at almost 2 years ago still on the market by the same dealers-- with little price movement downward. Interesting stalemate...

As far as the case of a "total loss" accident, if you don't have an Agreed Value Insurance Policy, then yes you will be a tortured soul in the hands of the insurance company with a real fight on your hands (ask me how I know this as fact). If you have an Agreed Value Insurance Policy, you can walk away, not look back, and collect a check for the full value of the car. I will never again drive a "special" car without an Agreed Value Policy. Never.

 

my 458 is still up for sale after 8 months. large part of the wait being the virus and that limiting travel along with people's finances. literally had a guy dead set on a ppi/buying it and then he couldn't convince his wife his real estate business would recover from hit. In the meantime i've paid it off and i just drive it occasionally.

i'd like to free up those funds to get into a GT3. But i'm also not going to give to just give the car away to someone looking to price gouge in a pandemic. At the same time, its hard to see prices actually rising from here. Do i take the current 135 offer now? or wait 6 months and keep driving it and take a 145 offer?

 

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I'd take the bird in the hand. Often the first offer is the best and sometimes only offer.

I've also seen it where many cars are still for sale after 18 months - which is an interesting stalemate indeed! When you look at it, these owners have all this money tied up still and aren't driving these cars in a bid to keep the mileage attractive yet these barely used cars still are not shifting at the now lower asking prices....or any where near. I've been watching many of them gradually knock off 25K then 50K off as the months pass, and even more, and now many are at bare bones $ but they still not shifting. Chances are if they'd taken the price offered a year and a half ago they would have got much more than what they are currently asking and could have had the money put back to work to recover their losses.