I want to keep my 612 for a long time, however, out of curiosity I check periodically the market. It always surprises me how low the value is for such a car, comparing to other Ferrari. I know the 2+2 syndrome, but comparing with the California (2+2 convertible), the market is valuing much more this one. Californias are actually holding better here than even 599 (!) - 599 from 2008 has similar value than a Cali 2010. Why do you think this happens? Is it a V12 thing due to complexity? Sent from my iPad using Tapatalk
This is always a tricky topic. With the 612, you are dealing with multiple scenarios: -Generation 1 Base Cars (Typically 2004 - 2006) -Gen 1 HGTS / HGTC Cars (Typically 2006 - 2007) -Gen 1 with Manual Transmission Base (Typically 2004 - 2006) -Gen 1 with MT & HGTS / HGTC (Typically 2006 - 2007) -Gen 1 with Bose Systems (Typically 2007 - 2008) -Sessanta Special Edition (2007) -Generation 2 / OTO Cars (Typically 2008 - 2011) The First group from above doesn't seem to generate much value, but the rest of the groups do. Other factors include condition, exterior / interior color, options, and mileage.
Location is also a factor. UK 612 values seem ridiculously high. Prices here in the Gulf region seem ridiculously low. I can get two 612's here in Qatar for example for the same price as one UK car.
The problem is Fan Boyz (mostly non-enthusiasts) want their car(s) to scream "Look at me - I'm a Ferrari!" The 612 just doesn't do that.
Ricardo I keep a good hold of the 612 market. What year/options is yours and I'll give you a pretty accurate range (assuming US vehicle)
Eric, Mine is a 2008. I'm questioning not because I want to sell mine - I hope to keep it for a loooong time, but because it surprises me how much this model depreciates comparing with cars from a different segment (v8s and 2+2) such as the Cali or even the Maserati GT Is it design? Maintenance cost? Lack of knowledge? It even surprises me more, when I learn the production numbers - 612 is more rare (thanks tazandjan)
4 seat Ferraris have always depreciated more quickly than the 2 seat variety-- all the way back to the 250GTE at least. Always has been that way, and always will be. And, they usually cost more new than the 2 seat cars!
The depreciation actually appealed to me that I could get so much car for a fraction of the MSRP with such low mileage. I usually keep my cars for quite a while so the resale value isn't really a consideration to me. I really have thought of cars as investment asset even though they certainly can be - as in my 930. Also the fact that the 612 is so understated is what drew me to looking at the 456 and finally deciding on a 612 OTO car as my first Ferrari. When my wife and I went to pick it up from the dealer she was blown away how under stated it was, especially in Gregio Ferro metallic. I think she thought I was going to get another red car. I seem to have either red or grey metallic cars.
I think the 612 (especially the later models) will be looked back upon as a car that was ahead of its time. In the mean time, prices seem to keep dropping. I've seen relatively low mile OTO's in amazing shape go for $130k USD equivalent here in Canada.
It's such an irony and a mixed blessing. It's a bigger hit on new owners and early early secondary owners who absorb the depreciation, but it's a blessing for the rest of us that we can get into these amazing cars. On the other hand though, any car is going to reach an equilibrium at which the value is buoyed by the cost to maintain a proper example, so at a point you start seeing cars essentially totaled by deferred maintenance. I saw a 360 Modena at FoW, owner was asking a very reasonable $60k but the FoW maintenance estimate was $50k. My detailer had a 456 a customer had parked indefinitely at his place that he let rot. It was driven occasionally but the leather was rotting and the paint fading. He asked at some point what he could get for it, hoping $60k but it was only worth $40k at that point needing $20k in remediation. Owner refused to sell, saying he'd rather have a 12cyl in his stable than take the 40k, and I'll bet the car was parted eventually. The number of 612's and 456's left on the market is tragic. Every one of you keeping one of these gorgeous ladies maintained should be commended. They pass way before their time from depreciation, and it's a terrible shame when the low price of admission should make us happy to maintain them. $60k in today's dollars is about the value where any 456 or 612 will need to settle to be worth the maintenance they require. I may be biased, but I think any of you who hold a 612, 1st gen or OTO, for another decade or two will be richly rewarded with a good upswing. I just see them as timelessly beautiful, but again I could be biased.
The 612 has really grown on me. But history has generally not been kind to 2+2s. That said, it's a great car and a bargain.
I am also a believer that the timeless design of the 612 will endure far more than the much more capable and modern FF. Having said that, I do still want an FF, but knowing full well that it is still on the downslope, whereas the 612 has leveled and started climbing. As for value, and this is just from someone who has kept a decent watch on for sale / sold in the US over the last few years, a 2008 non OTO with approx 10k miles and all service up to date (belts, etc) should bring $120k-$145k. A 2008 non OTO with HGT2 would bring the higher end of that range, perhaps just a tad more for a clean, low owner, loaded HGT2 with few miles. A 2008 OTO (which has the manettino, glass roof, CCB and 599 tranny all std) should bring $145-170k. 2009/2010 models (which are all OTO) should be in the $160-200k+ range.
I don't have any idea how the FF will fare in the long run, but I do think the 612 is better positioned to age more gracefully than its predecessors for a few reasons. I think the styling is more timeless. It's the first 2+2 well under 5 sec 0-60 and in the modern realm of "too much" horsepower, will never seem slow or less than gratifying when you dig into the accelerator. IMO even the F1's will some day be considered classics of a bygone era and romanticized much like the gateds are now. It's much more reliable than prior 2+2's, seems so anyway. Just some thoughts.
Couldn't agree more on the styling piece. The classic lines are like an Armani suit, not overdone. Sharp edges never seem to age gracefully (see any 1980s Lambo / Testarossa as proof). Doesn't mean they can't still be liked, but they are so 1980s and dated.
Eric, Why do you see so much disparity between the 2008 OTO and the 2009/10 OTO cars? I know only a few 2010s were made and almost none were imported to the US. But esentially I thought all the OTO cars are the same? When I was shopping for an OTO car I was unable to decern any differences in the years. But I believe the 2009/10 cars had a much higher MSRP than the 2008 cars. But the same options were available so I would think a 2008 and 2009 with similar options would be similar price. The price differential I would think mainly mileage, equipment options and a little for year. With the 2010s I get it, just so few of the last year gets a premium all else being the same. Correct me if I am mistaken about the 2008-10 OTO cars being the same as I am not knowledgeable of any differences?
I don't care for the FF. The 612 reminds me of classic Ferrari V12s of old. Also remember - the 612 currently stands as the last 2+2 with rear-wheel drive only and the classic V12 belted engine. The 599 has the collaborative (Maserati - Ferrari) chain-driven engine and the FF is AWD.
My feelings exactly. 612 design is timeless and pure, has a gentleman finesse. It's funny how with time we are starting to admire it more. It was ahead of its time, for sure. If something, I find it funny how a car that has such beauty and presence when seen in the metal, it's so hard to see a picture where its splendor is properly shown. ... About the engine: http://youtu.be/AdcoVurVY30
It amazes me. The V12's.. the epitome of Ferrari. What Enzo himself considered "A Ferrari".. depreciate to prices of the "entry V8's". I don't get it. I guess "a Ferrari" is supposed to be a pure sports car and the entry V8's epitomize that. It's great that the 2+2 fall so, it makes them affordable. I'm hoping to complement my 360 with one in the future when we have kids, or a 599 just because.
When I first started this Ferrari journey with a 360 spider, I looked around the showroom in 2010 and absolutely loved every car that was for sale at that time. My generation, I guess. I've had one of each now except the Cali which will be next, I think, when business improves a good bit more. I thought the 612 fit right into the lineup then, and of all the cars I'd like to revisit, it'd be the 612 for it's perfect versatility, preferably in an OTO. There's an interesting '08 on the market right now in Silverstone which I originally didn't love on the 612 but now think is perfect, over cuoio, perfect, and interestingly the car has an F1-S button on the center console, CCB's, HGT2, but no manettino. I've actually asked the dealer if it's really an F1-S or if they were just trying the button on an '08 first gen for grins If I were seriously after the car, I wouldn't mention until I had her, but what an interesting variant. Wonder if it's really an F1-S. Everything I've ever read I thought was absolute, no manettino, no F1-S.
They really are similar (08-10 OTOs) but for some reason the newer ones are bringing a little more. I would say maybe $10-20k more per year as you go up. Just an observation. Not sure of the root cause.
It's not an OTO. It's a 2008 with HGT2 package. OTO also has glass roof which the HGT2 does not. The manettino and glass roof were exclusive to the OTO. In 2008 there were non OTOs produced and then later 08s were OTOs