Roger that.
thank you KY _Soldier for tracking values of 612's... would you stand by values you stated in 2008, for late model/low mileage (2009') OTO's being presented in todays market...2021' or in your opinion have they depreciated even more, or stabilized or even started to edge up in 2021'...?
612’s have continued to decline in price. They may be at the bottom now but it’s hard to say. In today’s market a 2009 OTO is probably around $100,000 to $120,000 depending on condition and mileage. A non-OTO probably is in the $70,000-$90,000 range. Here is a 2009 with slightly “higher” mileage that recently sold on bring a trailer for $100,000. I believe it was Greybeast’s, a member here: https://bringatrailer.com/listing/2009-ferrari-612-scaglietti-2/
Ron, I would say that OTO was an anomaly. I actually bid on it myself. It needed work, had higher miles, and there were some questions about the roof. I do agree that the market has softened a LITTLE, however, I think the market has actually FRACTURED somewhat, meaning the nicest spec/mile combos continue to bring top dollar, while lesser spec/higher mile, etc vehicles are tending to depreciate more. As time goes on, more emphasis has to be paid to condition, mechanics, spec, color combo etc. I believe the 612 market will still be decent, but with wider variance.
Yes, that was my car. I really miss it and I was a little disappointed with the sale price, but you are correct..it needed a major, and optionally dash re-cover and a lower front bumper respray and maybe in a couple of years sticky fix. All in all probably around $11-$12k worth of work without the stickies. The roof was fine. There was a paint scratch on the rail above the passenger window that a commenter mistook as part of the panoramic roof. So if it had all that work already completed and had 13K miles rather than 31k miles, could it have fetched $115-$120k? That all depends on what a buyer is looking for I guess....
Greybeast, congratulations on your sale and you obviously deal with these value issues correctly. I thought your car was a beautiful 612 and the buyer got a great car and a good but probably fair deal.
I think the selling price was fair ar $95k, non OTO car with 30k miles. $110k seems strong to me. IMO
The last 2008 was very comparable, actually a few more miles, HGT2 as well…and was $108k https://bringatrailer.com/listing/2008-ferrari-612-scaglietti-5/
$217k! Pretty amazing, but there were two bidders who really wanted it. The third bidder dropped out around $180k, still pretty healthy. More than 2 out of the last 3 manual 612s.
But that sale was over a year ago, non OTO, low optioned car and 32k miles so not a comparable sale.IMO Additionally, the market is much different currently.
This OTO, with a few minor issues, only made $89k earlier this year! https://bringatrailer.com/listing/2008-ferrari-612-scaglietti-8/
Black/black (never sold well when I was looking for my car) and higher mileage but still a nice car. So what is the rational for the huge price difference? It seems that the car went way too low but that was obviously the market when it sold and now the market is different.
I had a black/black with a $384K sticker. Took a while to sell it even with 8k miles. Sold it for $145K one year ago.
I think there were two people in the auction who really wanted the other car. That said, the black/black car did have some issues (did you see the dash?), but the later one had a pretty bad sticky button issue, so not perfect either. It will be really interesting to see if the manual 612 on BaT now exceeds the OTO's selling price.
The dash and stick problems can be resolved for $10k give or take. But often times folks don’t want to mess with minor problems however my guess is that neither car checked many or enough boxes of the buyers in the market at the time. It took me 18 months but I was lucky to fine a low mile OTO car at an attractive price that checked all my boxes and I jumped on it within an hour or two when it was posted for sale, even before any pictures. I am still surprised that the early cars with MT are going at such premiums over the OTO cars. I get it on the two seater cars but on the 612 GT cars it’s my opinion the late F1 transmission is the better option. But then my opinion certainly does not mirror the actual market. My only real criticism of the 612 OTO cars is they have belts and not chains like the 599s. Yes, the sticky and dash problems are a pain and should have been solved by Ferrari but then that is the difference between buying a Ferrari and a Porsche, whole different attitude in the company’s philosophy.
It will be really interesting to see if this high-ish mileage (41k) manual 612 tops the last OTO... I'm guessing no, and probably RNM, but we'll see... Car has minor damage history and an unresponsive seller, neither of which are helping the auction. https://bringatrailer.com/listing/2006-612-scaglietti-6-speed/
