High miles and value.... again.... | FerrariChat

High miles and value.... again....

Discussion in '360/430' started by J. Salmon, Dec 22, 2020.

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  1. J. Salmon

    J. Salmon F1 Rookie
    Owner

    Aug 27, 2005
    4,363
    VA
    I am looking at a high miles 430 (47k miles now). I drive my cars, so it would quickly be over 50k miles. To me, this doesn't mean much, but the real-world value is a different thing. How much of a hit is the 50k mark to a well-maintained 430?
     
  2. imahorse

    imahorse F1 Rookie
    Silver Subscribed

    Nov 25, 2017
    2,648
    WI
    Full Name:
    Dustin
    If you want to put miles on a car, buying one with miles, carfax blemishes, or cosmetic issues is the way to go, since the car already took a big hit on value. That is assuming you buy it at a good price.
     
    RedNeck likes this.
  3. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    spider or coupe and what year?
    all depends on what price you are starting from - if you buy it cheap enough it wont matter. if you spend 80k on it you prob have 20k of downside.
     
    Texas Forever likes this.
  4. J. Salmon

    J. Salmon F1 Rookie
    Owner

    Aug 27, 2005
    4,363
    VA
    2005 red/black coupe. Cosmetically probably 8 out of 10? (depends on who you are...) Wrinkled airbag cover, bolster wear, lots of nose paint wear but not bad to me as I just don't care about these things much. Mechanically solid with headers replaced and a good clutch.
     
  5. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    What do you think you can get it for? Sounds like a great driver
     
  6. J. Salmon

    J. Salmon F1 Rookie
    Owner

    Aug 27, 2005
    4,363
    VA
    There is a 19k miles car (private sale) that needs a lot of service - clutch, brakes, probably a quieter muffler - and they are asking 90k but I think it would be no more than 85.
    I am thinking of offering 75 for this one, as it's from a dealer. I am not a good negotiator...
     
  7. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    If the 19,000 mile car can be had for 85 then u shouldn’t spend more than 65 on a 50k mile car


    Sent from my iPhone using Tapatalk
     
    RedNeck, armedferret and J. Salmon like this.
  8. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    DeTomasoGTS74 and armedferret like this.
  9. flash32

    flash32 F1 Veteran

    Aug 22, 2008
    5,563
    Central NJ
    Full Name:
    Dominick
    20 plus percent off a no stories well maintained 10k car

    Sent from my moto g(7) using Tapatalk
     
  10. RedNeck

    RedNeck F1 Veteran
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    Jul 8, 2016
    9,875
    The CSA
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    Real talk right there. There was a 430 not too long ago with similar miles the dealer was asking 70k for. Sold it to an F-chatter.
     
    honda corse likes this.
  11. Danedingerson

    Danedingerson Karting
    Silver Subscribed

    Dec 26, 2011
    218
    Maui
    Full Name:
    Dane
    Pricing is up in recent months because demand has risen for many luxury cars and homes. Here in Maui there are many full price sight unseen homes that are selling. I sell affordable beach land in Belize and am having my biggest year ...many sight unseen..Low interest loans and many folks realizing they are mortal....
     
    one4torque likes this.
  12. ttforcefed

    ttforcefed F1 World Champ
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    Aug 22, 2002
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  13. J. Salmon

    J. Salmon F1 Rookie
    Owner

    Aug 27, 2005
    4,363
    VA
    Life is short, so I bought it. Screw it, it's awesome! 46k miles, I hope to run it up into rarified territory (>100k).
     
  14. cole328

    cole328 Formula Junior

    May 9, 2014
    882
    Congrats!!...


    Sent from my iPhone using FerrariChat
     
  15. PCarRI

    PCarRI Karting

    Feb 23, 2020
    221
    Rhode island, USA
    Congrats!!
    Question for everyone though. I’m seeing a lot of comps to cars of different colors. I’ve always been told that “resale rosso corsa” adds $ to the value to the demand and it’s not a fair comparison to a black or red car. Is that no longer true?

    Asking for a friend with a Red/Tan 430 Spider...
     
    NMNMNMN likes this.
  16. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    12,282
    South East
    Full Name:
    Jimmie
    I believe the value of a rosso corsa car is pretty similar to that of a red car !

    Whether either of those colors has greater value is doubtful however it is likely that they will sell quicker
     
    Dewinator likes this.
  17. Dewinator

    Dewinator F1 Veteran
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    Jun 22, 2017
    5,973
    WA
    #17 Dewinator, Dec 31, 2020
    Last edited: Dec 31, 2020
    People think red cars go for higher because they don't understand liquidity. Red cars are more common, but also more people buy them, so it is a more liquid market. The price difference between needing to move a red car tomorrow or waiting to get the best price is not that high.

    With a rare color, a motivated seller may well have to accept a very low price, but if they hold on to the car until the motivated buyer comes along that wants that car and that car only, they can demand a premium.

    So the expected sale price for red cars is similar to that of other colors in the same condition, but it's a much more liquid market. Of course for a dealer that has limited inventory, a car that sits for longer to sell at the same price means lower profit.
     
  18. Danedingerson

    Danedingerson Karting
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    Dec 26, 2011
    218
    Maui
    Full Name:
    Dane
    Every red one you see is listed and sells for more money because the demand is greater. Any analysis has to adhere to that real life-easy to check fact.
     
  19. J. Salmon

    J. Salmon F1 Rookie
    Owner

    Aug 27, 2005
    4,363
    VA
    To be honest, I didn't really care about the color, I just didn't want black. My fave is TDF blue. I looked at a silver car and liked it. This is rossa corsa, and though I don't care per se (and honestly prefer to be low key but that's just not possible in this arena) I will say that I think Ferrari does red better than anyone. You get so used to these things if you have the privilege of spending some time as an owner that I think you lose a little perspective. Christ almighty a 430 is a machine. My friend just bought a 458 and seeing it on the road in the wild is otherworldly in a town like mine.
     
  20. J. Salmon

    J. Salmon F1 Rookie
    Owner

    Aug 27, 2005
    4,363
    VA
    This shows how little I care... It's NOT RC, it's R Scuderia! I thought it popped...
    Hopefully clear weather tomorrow. I am losing my mind staring at it...
     
  21. one4torque

    one4torque F1 Veteran
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    May 20, 2018
    5,090
    Houston
    Full Name:
    One4torque
    Enjoy sir! Life is too short to worry about color value margins. :)
     
  22. Ricambi America

    Ricambi America F1 World Champ
    Sponsor Owner

    literally, could not be a more disgusting day here "south of the border". I rode 60 miles today in fog, muck, and cold.

    If you'd been on the road today, you'd be cleaning it for a week...
     
  23. J. Salmon

    J. Salmon F1 Rookie
    Owner

    Aug 27, 2005
    4,363
    VA
    Managed a short but incredible drive. Best sports car I have ever driven, much less owned (at least for what I want out of it).
    I SHOULD be out on my bike as well, but I am not nearly as committed as that... hopefully to the pool today after a bit of work here because it's already raining...
    Cheers all!
     
    Ricambi America likes this.

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