488 488 Values

BecUaxe 488 the beat **** ever home dog

 

A new low....

 

I remember what happened the last time you posted this video.

https://www.ferrarichat.com/forum/threads/ferrari-music-video.676669/

I have a feeling you enjoy the responses videos like these inevitably get on this forum.

 

You and I must not be seeing the same ads because I've seen them come down a lot in the last 4-5 months. There are 488's out there now that are near or below 458 prices. I wish I had waited a year before buying my 458. https://www.cargurus.com/Cars/l-Used-Ferrari-488-d2333?cgagid=30695465&cgcid=14594&px8324=p2&sourceContext=usedPaidSearchNoZip&ax8324=124300941&type=GoogleAdWordsSearch&kw=ferrari 488 for sale&matchtype=e&ad=470117683560&placement=&networktype=g&device=c&devicemodel=&adposition=&physloc=9009654&intloc=&aceid=&cid=2058594609&agid=79156470633&tgtid=kwd-306072677490&fid=&gad=1&gclid=CjwKCAjwkY2qBhBDEiwAoQXK5Y8qULxgXwCVab4uSBj7FDLtpibAxomJqSwS84RDsBKqIpvH9ic6PhoC4gMQAvD_BwE

 

I love seeing up tight people waste energy on getting upset at things that don't matter lol

 

So are you looking at “asking” prices or do you have info on what the “sold” for? A Ferrari dealership is always going to have the highest “asking” prices of any model but that’s not indicative of the market or what they are selling for.

 

488 is not dipping like some thought it would or other models have in the past. I’ve been debating on selling my 488 or trading it. I got an offer back in 2021 with 3k miles on it… and now 2yrs later and 8600 miles I’m getting the same offers or around only $5-8k less due to miles.

To me the 488 sits in a good spot. It’s $100-130k less than a F8 and provides great muscular exotic looks, and great power. Lot of guys find they can get into a 488 and simple mods make big power. The torque of the turbo engine is fun on the street and feels great driving it.

 

I recommend following “Fourwheel Trader” on YouTube for comparative analyses of appreciation/depreciation trends. While the prices used are listings (not sales), evaluating the trends on a percentage basis allows comparisons among a wide range of sports/exotic/GT cars that he covers. He also includes confidence intervals in his graphs, which help expose some data averages that are based on a small number of cars.

Here’s his recent (early Oct. ‘23) look at the (US) mid-engine Ferrari market. Ignore the clickbait titles on his stuff

 

I don't see a lot of F8's on the used market. I think once the F8 starts hitting the used market more, 488 prices will dip a little, not substantially, but I think you'll be able to find a good example in say around $210-225.

BTW, it seems like everyone that owns a Pista is selling it right now. I think they see what is coming. However, I don't see any compelling new models that would make me want to sell a Pista. I'm curious as to what will happen to the Roma in the future. It's not a traditional looking Ferrari, looks like an Aston Martin to me. That's not a bad thing per se as Aston's are beautiful cars.

The 812 has certainly been more resilient than the car it replaced, the F12. In terms of other makes, I'm seeing incentive financing from the OEM's. That to me tells me inventory is building up, thus slower sales. While not the same as the Ferrari market in terms of demographics of the buyers, there is some overlap with BMW and Mercedes buyers.

 

Guess “a lot” is open for interpretation. There are about 200 listed on cargurus.

 

I counted 80, but still that is a lot.

 

You may be looking at just coupe or just spiders. Total is (there are some duplicates)
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I stand corrected!

 

I’m only up on the numbers as mine is one of those listed. Market is definitely not what it was a year ago.

 

I mean no disrespect to @Kent Adams but this is an inaccurate perception. There are 55 Pistas (coupe and spider) on Autotrader which falls between the high (around 65 at the start of the year when I purchased mine) and the low of 50 some time in July. Again, no disrespect, just clarifying. Speciale market climbing slightly, Pista market stable. Someone with MMR access please correct me if I'm wrong!

My salesperson at Ferrari SLC said that he happily and easily sells 488s; that they are an excellent value for a fraction of the price of a F8/Pista and for similar money to 458s.

 

Hey we're cool. I just noticed it recently. How many Pista's are in the US? The only way I could afford a Pista is to sell all my cars, LOL. I'd have no room economically to do much else car wise. Pista is my absolute favorite under $1million.

 

Same here… Pista is honestly my holy grail …. Oh well…lol

 

Whew, glad my intention was felt. I'm not sure how many total Pista's made it to the US; a lot of speculation over the years on the quantity but don't think I've seen a confident number put out there. I really love the car and it may not be that bad to trade all of your horses for one

 

COVID introduced a disturbance in the market that is slowly working its way through the system. Buying patterns changed, artificial supply disruption (factories closed), and free money (aka demand up at then existing prices).

It is also important to keep in mind that inflation has been much higher over the past 4 years than it had been previously. $240k today is not the same as $240k in 2019, in fact the equivalent inflation adjusted value from 2019 would be $200k.

Cumulative inflation from 2019 - 2023 (~4 years) is roughly equivalent to inflation from 2007/2008 - 2019 (~12 years).

 

No difference….other than it’s been noticed the 2019 is faster in the 1/4 mile.