Wanted - Gated 360 Coupe/Spider - Clean title, <$85k, High mileage okay | FerrariChat

Wanted Gated 360 Coupe/Spider - Clean title, <$85k, High mileage okay

Discussion in 'Ferraris' started by WillskiGT, May 16, 2021.

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  1. WillskiGT

    WillskiGT Formula Junior
    Rossa Subscribed

    Aug 12, 2017
    423
    As the title states, I am looking for a gated manual 360 (coupe or spider). Wife and I are starting a family in the next couple of years and I was given the green light to pull the trigger on one last "fun car" before space for a car seat becomes a vehicle requirement.

    I've had several purchases of a 360 fall through in the last month, including one where the mechanic bought the car out from under me upon completing the PPI, so thought I'd try a wanted ad here. High mileage is not a concern for me whatsoever as long as the car has been well maintained.

    Please let me know what you have. Cash buyer and ready to pull the trigger. Thanks!
     
  2. AndreB

    AndreB Karting

    Jun 8, 2018
    237
    HTX
    Full Name:
    Ndr
    https://dallas.craigslist.org/dal/cto/d/dallas-1999-ferrari-modena-rare-gated/7322495041.html
     
  3. WillskiGT

    WillskiGT Formula Junior
    Rossa Subscribed

    Aug 12, 2017
    423
    AndreB likes this.
  4. Horseprancer

    Horseprancer Rookie

    Apr 4, 2017
    7
    Sorry to hear that WillskiGT but I had a friend that same thing happened to him except he paid a guy to go look at an out of state car and the "appraiser" ended up telling someone else about it who paid more (probably got a kickback lol). NEVER give up info as to a gated Ferrari or be ready to lose it sadly....smh
     
  5. carnutdallas

    carnutdallas Formula 3
    Rossa Subscribed

    Nov 11, 2010
    1,683
    Dallas Burbs
    Full Name:
    Rob
    I am in Dallas if anyone needs a look see..... now says sale pending though? Major done too. I think the Gated Modena’s had gotten a little soft, but are on the way back up and quickly, especially for good color combos and records. GL with the search, but maybe you just have to pull the trigger on a well documented car


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  6. KY _Soldier

    KY _Soldier Formula Junior

    Oct 13, 2008
    564
    Louisville KY
    Full Name:
    Eric Rahman
    I don't think you are going to find any properly sorted gated 360 under $100k without stories, accident, crazy high miles etc. One sold on BAT with like 21k miles or so for $143k last month. It's like these posts wanting a 458 for $120k. You are looking at salvage territory there. A year ago you could have found what you are looking for. But this market has exploded in the last 9-12 months. It may come back but it isn't looking that way with the chip shortage, the avalanche of EVs coming etc. Gated manual F cars are only going to get more expensive from here. My advice, save up a little more, get a good example and watch it continue to rise.
     
    550nitis, anunakki, G8TD and 4 others like this.
  7. WillskiGT

    WillskiGT Formula Junior
    Rossa Subscribed

    Aug 12, 2017
    423
    I don't know that I totally agree with the timeline and market picture you've painted. Gated 6 speed cars can still be found for relatively cheap right now, not 9-12 months ago. I created this post as a catch-all for anyone thinking of selling since I've had issues with all 3 purchases I've tried to make up to this point.

    The BaT car that sold 3 weeks ago for $138k with 19k miles can be contrasted with a 79k mile, clean title Spider that also sold 3 weeks ago on Fchat for $65k.

    As I alluded to in the initial post and above, I've been in talks to buy 3 different cars in the past 2 weeks for <$85k. One the owner decided to keep, one the mechanic bought from under me after doing the PPI, and the third was a salvage title car for $59k that I couldn't wire money in time to purchase (was on vacation in Mexico). I'm perfectly fine with an accident, stories, high mileage. Don't particularly want a salvage title car, but there are worse things as long as the frame is not damaged.
     
  8. carnutdallas

    carnutdallas Formula 3
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    Nov 11, 2010
    1,683
    Dallas Burbs
    Full Name:
    Rob
    Spider value and Modena value not the same. Spiders generally $10k+ cheaper at all mileage points. Top malfunction and repair cost a big factor. Worse on 430’s. The “Berlinetta” gated F-cars, have turned a corner and climbing. What you missed is now being sold for more money in a matter of weeks. I think the market may relax some, but the firmer prices are here to stay for gated cars, unless financial collapse occurs.... I pray not.

    Salvage cars do fill a place in the market, so long as you are willing to assume that risk - sounds like you are, but that is a dicey proposition.

    Please share with us when you find a car.



    Sent from my iPhone using Tapatalk
     
  9. WillskiGT

    WillskiGT Formula Junior
    Rossa Subscribed

    Aug 12, 2017
    423
    Interesting observation. I agree on the 430 and F1 box 360s (Berlinetta > Spider prices), but I have seen gated 360 Spider values to be quite a bit higher than gated 360 Coupes while watching the market for the past 5-6 months. Partially, this is driven by the fantastic results on BaT - only gated Spiders have been listed the last few months and a competitive auction will end up better for sellers than the private sales data I can access.

    Perhaps (I think rightfully so) the gated Coupe pricing will shift to be greater than the Spiders.

    Certainly don't disagree that gated prices will firm up as time goes on, but find it difficult to believe that over the span of 10 days, prices would increase by 25%+. It is certainly not the most liquid market, but enough gated 360s trade hands that such a price jump over that short of a time span is unlikely. We'll see...
     
  10. carnutdallas

    carnutdallas Formula 3
    Rossa Subscribed

    Nov 11, 2010
    1,683
    Dallas Burbs
    Full Name:
    Rob
    My research, fairly daily.... I am a 355 owner - GTB Gated, participate in the 355 market thread and keep and eye on the last of the gated F cars nationwide; I don’t think there are but 2 or 3 Gated Coupes for sale right now, out of about 65 or so cars listed. (Edit: Lots of cars say manual, but really F1 or they say nothing at all, but end up being F1) I am paraphrasing my own research and my discussions with others, so it could be a few percentage points better, but not much. Ebay, Hemmings, Cars.com, Autotrader, etc, etc, etc.... a lot of work and I just do it all from memory and daily looking, no spreadsheet or formal data - not that critical to me. I have other interest, lol....

    But looking through that pair of “glasses,” yes cars can go up quickly when supply is low - people are holding and not selling. Activity currently supports the sellers. F1 cars are a plenty, Gated, not so much.

    It would take close to if not exactly $100k to sell my 67k mile 1995 2.7 GTB. That car a year ago was in the upper $50’s. 3-4 years ago, $40’s at that mileage. I cannot replace it with a lower mileage car - more plentiful, but spiking over $110-115 right now for a low mileage GTB.... cars in the 19k range and back, $185k.... 10k miles and back, $210k plus! Cars are selling quietly.

    360 will probably lag the 355.... but at some point it may surpass it ???


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  11. BooE

    BooE Karting

    Dec 13, 2020
    54
    San Francisco
    Full Name:
    Mike bouey
    Also looking for one. Missed 2 in the last 6 weeks. Trying to be patient lol


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  12. robertjskelton

    May 15, 2019
    31
    Indian Harbour Beach, FL
    Full Name:
    Robert
    I've got a spreadsheet of recent 360 sales, and the manuals always sell so quick, within a day if they are priced right. A Spider sells for about $5k more than a Modena. This has been for sale for a long time, but Miami car dealers are always sketchy - I bet it has stories. That's the only manual I've seen that is under $90k that hasn't already sold in the last 2 months.
     
  13. spider348

    spider348 Formula 3

    Nov 3, 2003
    1,264
    MA
    Full Name:
    John
    Just had to look!
    Read the Carfax. You will understand low price easily! Mileage problems 21800~40700. Accident, front end damage, towed. May be a RoW model. Top flap stuck down in several photos. A lot going on here.
     
  14. spider348

    spider348 Formula 3

    Nov 3, 2003
    1,264
    MA
    Full Name:
    John
    Just had to look!
    Read the Carfax. You will understand low price easily! Mileage problems 21800~40700. Accident, front end damage, towed. May be a RoW model. Top flap stuck down in several photos. A lot going on here.
     
  15. OrmondStar

    OrmondStar Karting
    Rossa Subscribed

    Jan 19, 2019
    156
    Lake Mary, FL
    Full Name:
    Richard
    Also, how is it a 2005 when Carfax indicates it was put in service at end of 2001!

    Honestly, even then I think this is cheap for a gated spider.
     
    anunakki likes this.
  16. robertjskelton

    May 15, 2019
    31
    Indian Harbour Beach, FL
    Full Name:
    Robert
    Like I said, Miami car dealers are sketchy. The best deal I've seen was a few weeks ago on the LA craigslist, clean title gated yellow Modena with 50k miles, listed for $65k and sold within a day. Deals are out there, but they go quick.
     
    anunakki likes this.
  17. OrmondStar

    OrmondStar Karting
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    Jan 19, 2019
    156
    Lake Mary, FL
    Full Name:
    Richard

    Agreed, can’t stand dealing with Miami sketchy dealers.
     
  18. carnutdallas

    carnutdallas Formula 3
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    Nov 11, 2010
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    Rob
    My research has proven Gated Modena’s sell for more. Not when new or a few years old. Ultra low miles creates anomalies too, but I have always seen miles for miles, color for color gated coupes bring more money in recent past than spiders (6mths).... but I don’t have a spreadsheet, so that could be a problem


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  19. eskamobob1

    eskamobob1 Karting

    May 9, 2020
    137
    SoCal
    Lol. I had the exact same thing happen (on a car even harder to find than an fcar in my price range to boot). I would have rather just not had it inspected and paid for a full rebuild than to have lost it. Hell, for that matter, I probabaly would have just paid the owner what the other guy offered if im real honest. Annoying as hell when one gets taken out from under you when you've already agreed on a price with someone
     
  20. Asmod3uS

    Asmod3uS Karting

    Apr 6, 2004
    148
    New York City
    Full Name:
    Steve
    I have an 01 gated spider, yellow / black. Challenge grills, modulars, tubi. Recent service and clutch. ~23k mi. I was planning advertising around the ~125k mark.

    PM me a contact # if interested, I can send some pics and further info!

    Thx!
     
    eskamobob1 likes this.
  21. WillskiGT

    WillskiGT Formula Junior
    Rossa Subscribed

    Aug 12, 2017
    423
    I think you may have missed the thread title.

    I've been talking with them today. Sketchy/interesting stories on the car may be the understatement of the century.
     
  22. G8TD

    G8TD Karting

    Apr 25, 2004
    108
    Houston
    Full Name:
    Joe
    WillskiGT,
    Your treasure hunt sounds a bit like trying to buy a new stainless Rolex Daytona at MSRP... With that said, I sincerely hope you find that needle in a haystack! Please post pics if you get lucky :)
     
  23. WillskiGT

    WillskiGT Formula Junior
    Rossa Subscribed

    Aug 12, 2017
    423
    Feels like a Sisyphean task at the moment, but I have a couple of leads.
     
  24. JSinNOLA

    JSinNOLA F1 World Champ
    Sponsor Lifetime Rossa

    Mar 18, 2002
    18,776
    Denver, CO
    Totally different car and unobtanium as gated given the price, but ever thought about a 612 with paddles that can certainly fit a baby seat and set of golf clubs?

    And by set of golf clubs I obviously mean your wife’s breast pump and extra room for a pack and play...
     
  25. GT500JR

    GT500JR Rookie

    Dec 21, 2019
    9
    Chicago IL
    Full Name:
    JR
    ‘99 360 Modena red/tan gated ~42k miles and every single dealer service record back to initial purchase...and $85k is about $15k away from where I’d have a conversation.

    Can’t see how I’d replace the perfect driver’s car in this market?

    I think you have a chance at finding one at $85k but will have much higher mileage and incomplete docs. Sometimes a more expensive sorted car turns out to be less expensive. Good luck!
     

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