488 Pista Values

I have noticed that dealers have re-adjusted the floor plans to reflect higher pricing models. Been watching the market and most Pistas reflect higher than MSRP. In your case it was a win win; low mileage,unique luxury interior,and well fitted with exterior CF.

 

Congrats good looking car!

 

Yep market has changed. I went to try and get a new TOYOTA Van and they wanted 5k above asking for a Toyota VAN.
Everything is up and selling fast, even classics are selling faster than before


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Raw materials and shipping is through the roof. Expect delays but more of a concern is unavailability of raw materials put pressure of finished products.

 

$30,000 over MSRP (including buyers fee) for a modestly appointed 332 mile 2020 Pista. The market remains quite strong.

https://bringatrailer.com/listing/2020-ferrari-488-pista-6/

 

It’s an amazing car and the one I never let go.

 

I was reviewing the market and there looks to be a definite shift from the previous level of $450 -$500k to $500 - $550k for well specced and low mileage cars.

I note that the Pista will have the last of the Special Series V8’s from Ferrari this as we know has a proper Challenge Engine in it and of course it is light weight and blessed with race pedigree.

Not to mention I think it is the best looking modern Ferrari along with the TDF and the La Ferrari.

So I pose the question;

Where are these values going to go from here?

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May the Horse be with you

 

IMO, when the bubble burst, almost every car will likely decrease to pre-Covid pricing. It may take 18-24 months but this level of pricing can not be sustained. By that time the next latest and greatest will be out, people will start to adopt the new technology and get over their initial fears/hatred of hybrids and start buying those cars. As for the Pista, while it is an awesome car, it was not limited and there are a ton out there. (Side note, I wish I had held on to mine for 10 months so i could have ridden the wave of the market).

 

Have been on several sites recently (with many examples) where the average asking price for a 2020 coupe was $631,000. Before tax.

 

Some of my favorite specced ones are listed for 650k-780k. TM coupes.

 

Asking vs. selling is usually a huge spread. The “asking” price of almost every car is insane right now. Anyone know of what some recent Pista have actually “sold” for? (Btw, check out the “asking” price for the Ford Bronco). Crazy crazy times.

 

There always has to be a lecture LOL. That's why I said "asking price."

 

https://bringatrailer.com/listing/2020-ferrari-488-pista-6/

Sold for $460k just 90 days ago with only 300 total miles, and appears very well specced. The asking prices advertised on the internet are outrageous and I assure everyone that Pistas are not selling for $600-700k!


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Not a super interesting spec. Did sell over MSRP though.

 

A lot of the higher priced ones have MSRPs well over $550k...

 

Looks like 25k over msrp. 10 months ago they were 25-35k under msrp so very nice swing.

 

I beg to differ. Pre-Covid prices??

No chance!

With the looming finish of the internal combustion engine and everything going electric unicorns will be highly valued and appreciated in the future.

I am sorry you sold yours early too.


May the Horse be with you

 

This car sold 19th July.

The market back then is different to today.

The spec was Ok, the color combo was very ordinary IMO.


May the Horse be with you

 

I agree…. And that’s why I also said Value.

I personally think cars are valued at how they make you feel, how they drive, how they look and their rarity….. in no particular order.

This is why F40’s and CGT’s and hiking up.




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That was a $435 MSRP. It was a decent, if somewhat unspectacular, spec. It was missing engine carbon bits, and a couple other minor items. More than anything, other than the miles, that car kind of blends in with the myriad of similar Pista’s always being marketed. The very best Pista’s offer special paint and carbon wheels.

Worth noting too, that car actually sold for LESS than $460. Here’s the final comment the seller posted on BAT:


The winning bidder calls and starts by insulting me, questioning why I am selling such an expensive car. Easy, I TOLD YOU in the video I was facilitating the sale for my client and that you’d be buying from the owner. Then he demands he buys it from Competition Cars. Tells me this is a big red flag.

Then he says, “I expect a pre purchase inspection provided by you from a Ferrari dealer”… I was like, no Sir, it doesn’t work that way. Car is under full warranty and no Ferrari dealers within 3 hours from me. He said ok.

Then, he says he wants to use an escrow company to complete the deal. Meaning I send the car all the way across the Country to California and he has the right to accept or reject the car before one red cent is released to us.

Then he wants to speak to my client who is busy and didn’t want to be bothered with selling the car, hence why he put it in my hands. I said ok, call him.

He proceeds to tell my client he is going to Dubai for a week and when he gets back he “MAY” fly to SC to look at it before he pays for it. However, if we can sell it somewhere else, go ahead and sell it.

I said, ENOUGH!!!!! We reached out to BAT and they were very helpful. They helped us facilitate a deal with the back up bidder, at a much lower price of course. The back up bidder was a gentleman and a professional. We received all funds within a matter of days. As for the “winning” bidder, I sure hope he is banned from BAT. If it wasn’t for the professionalism from BAT and a trustworthy back up bidder, we’d still not have this Pista sold.

 

I doubt Pistas will go back to pricing indexes experienced during early COVID - at least well speced/low mileage ones won’t. Once benchmark pricing has been established, it takes a life of its own and sets the pace as they come to market. I tend to agree with the consensus, that with the advent of more EV models in the future,there will be a longing for hard core ICE types. I think Pista will fit in this category.

 

Appears that a lot were produced. Amazing car but I would suspect production numbers would really dictate value in the future. Anyone know the total US production number ?

 

Go back and look at some of the posts about the Pista’s predictive value from a few years ago. They were selling for 75k-100k OVER msrp and people were making the exact same arguments you are making. People were predicting that they would eventual be below MSRP and others were saying not a chance as it will be the last VS non-hybrid produced. History proved that they over produced the car and the market did not sustain the pricing. What we are seeing now is a once in lifetime anomaly with inflated pricing for ALL cars. I guess we can both check back to this post in 2023 and see whose prediction was more accurate. (If I was really good with predicting future values I’d probably be driving a LaFerrari, lol).

 

You know what they say?

One sale doesn’t make a market.


May the Horse be with you

 

I totally agree.


May the Horse be with you