| Author | Message | ||
| Omar (Auraraptor)
Member Username: Auraraptor Post Number: 811 Registered: 9-2002 |
Mike Green, Alfa Romeo Tipo 33 Stradale enjoy!  | ||
| JOONG HYOK KIM (Jhk1973)
New member Username: Jhk1973 Post Number: 4 Registered: 7-2003 |
Wow...thanks much people, now I'm learning. | ||
| TC (Houston) (Tec)
Junior Member Username: Tec Post Number: 169 Registered: 2-2002 |
Nice summary, Rob. | ||
| Rob Lay (Rob328gts)
Board Administrator Username: Rob328gts Post Number: 5756 Registered: 12-2000 |
It's happened to the GT4, 308's, 328's, 348's and the 355's are about 1-2 years away. No doubt the 360's will follow the same trend. That is relative Ferrari pricing. The Ferrari 8's depreciate at an accelerated rate to about the age of 10-12 years old. At this point they settle down into a relative position to the perceived "one down" from it. For example on good cars... GT4: $16-22k 308i: $20-24k 308: $24-28k 308 qv: $28-34k 328: $35-42k 328 '88.5+: $40-48k 348: $45-55k 355?: Right now $65-90k, within 1-2 years $60-75k. Following this trend I believe the 360 will depreciate at the accelerated rate until it settles into a range $10-20k above the 355 at it's 10-12 years of age. Now as the overall market fluctuates, then all of these cars fluctuate, but the relativity between the perceived "one up" and "one down" remains the same. This is all driven by market demand. The majority of Ferrari buyers will buy the "best" one they can within their budget. Now don't flood me with exceptions, but I think everyone can agree with this majority rule. | ||
| Michael Green (Michaelg)
New member Username: Michaelg Post Number: 18 Registered: 4-2003 |
excuse me for being totally ignorant Chris, but what is that car in yr profile pic? what a fantastic photo. | ||
| Brian Kennedy (Kennedy)
Member Username: Kennedy Post Number: 369 Registered: 3-2002 |
Michael, I'm not sure the logic for the numbers you quoted... doesn't sound too plausible to me. However, there is a minor annual fluctation in prices as demand goes up and supply goes down in spring and early summer, while the reverse happens in late fall and winter. Why? Because of all those unfortunate souls who can't (or won't) drive their Ferrari's in the ugly-weather winter months. However, the huge drops you are talking about are more likely associated with the hypothetical pending announcement of a new 360 replacement with more horses that are going to instantly zap 360 prices. First, I don't expect such an announcement this summer. Second, I don't expect a huge drop in 360 prices as a result. Rather, the new 360 will see huge over-MSRP prices that may even pull up 360 prices a bit. Then, gradually, as availability of the new 360 becomes higher and higher, the old 360 prices will start falling off. Gradually. Net-net: you might save a few bucks waiting until winter to buy, but then you may effectively miss out on a year of driving one if you live one of the colder areas of the world. Not really a win, in that case. | ||
| David Stoeppelwerth (Racerdj)
Member Username: Racerdj Post Number: 340 Registered: 1-2003 |
Michael- For a depreciation illustration for you, I paid at Shelton Ferrari Jan. 2002, $170k for a 01 Red/Red 6 speed with 293 miles. There was a 99 with 5k miles and same colors and stick for $148 thru Ferrari of New England. Find the right car for your price and enjoy it. I don't know what mine is exactly worth today, but I wouldn't trade the time of enjoyment for the wait. | ||
| Ken (Allyn)
Intermediate Member Username: Allyn Post Number: 1089 Registered: 10-2001 |
Huge depriciation is par for the course with newer Ferraris. I'd be interested on what the floor price of a 360 is liable to be. For example, 308's seem to have found a level in the 20's for okay cars; 328's in the 30's; 348's maybe $50-60 for a convertible? So what about 360's? At what price will they bottom out? I'd guess $60k in 5-10 years but that's just my own uninformed guess. | ||
| ELI (Titanium360)
Member Username: Titanium360 Post Number: 528 Registered: 4-2002 |
Michael. from what i can tell the market for the 360's has picked up again in the past few months or so. all i can tell you is that i sold my 03 coupe over sticker with only 900 miles on it. hopefuly the spider should be here within the next few weeks. | ||
| gary green (Minuke)
Junior Member Username: Minuke Post Number: 99 Registered: 7-2003 |
You're hooked! | ||
| Michael W. (Whimike)
New member Username: Whimike Post Number: 5 Registered: 7-2003 |
Well, of course that is the problem. I have Ferrari Fever!!! I took that freakin test drive last week and can't get the car out of my mind now. I can sweat it out until September, if needbe, but waiting until the start of the year would drive me to the point to insanity. Is this a typical sympton of anybody ready to buy?!?!? | ||
| Christopher John (Ecsplosive)
New member Username: Ecsplosive Post Number: 23 Registered: 7-2003 |
Mike, you're basing that depreciation over msrp pricing. I would wait for 360 pricing to settle to at or around msrp before jumping into one. That should be either later this year or early next year when Ferrari bumps the 360 powerplant (IMHO). But then again, there is no time like the present  "Right here, right now!" -- Fat Boy Slim | ||
| Michael W. (Whimike)
New member Username: Whimike Post Number: 4 Registered: 7-2003 |
Christopher, Yes, I understand the premise of the depreciation of these cars. But, in watching their values of the past year, I don't see them dropping $15k - $20k or 10% in value over a 3-4 month period. -- Michael | ||
| Christopher John (Ecsplosive)
New member Username: Ecsplosive Post Number: 22 Registered: 7-2003 |
Modern Ferraris are like any other cars... they'll depreciate, with of course the exception of the F Series. | ||
| Michael W. (Whimike)
New member Username: Whimike Post Number: 3 Registered: 7-2003 |
I spent hours going through old threads on the forum about 360's. I am ready to buy one, but I am a bit concerned what I am reading about values. In one post in May of 2003 "Titanium360" was contemplating trading a 2000 360 Coupe for a 2003 360 Coupe. There was talk about his 2000 being "worth" $145k today and he expects in September of this year it will be worth $130k. The talk was also the 2003 is worth around $170k? today and will be worth about $150k in September. This got me to thinking, what is the world is going to happen in September to cause these price drops, if anything? I would take a 2003 in a heartbeat for $150k and would be willing to wait until Septmeber for that!! Am I missing something? Is it just that as we head into September and the weather worsens across much of the country that these cars become garage queens and people want to unload them? -- Michael |