Buying a 360 Modena in Houston | FerrariChat

Buying a 360 Modena in Houston

Discussion in '360/430' started by Mallick_1984, Apr 23, 2014.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. Mallick_1984

    Mallick_1984 Rookie

    Apr 23, 2014
    45
    Houston
    Full Name:
    Abhishek Mallick
    Dear Members,

    I was hoping to get some insights/help regarding buying a 360 Modena (in Houston) within the next 1-2 months. I tried my best to take in as much as possible from the past threads, buying guide and streamlined my search to the following;

    1) Red/ Tan or Red/Black 360 Modena or Spider.
    2) F1 Transmission, personal preference.
    3) Less than 20k miles, preferably below 15k miles.
    4) If possible, later, 02-04 model.
    5) PPI mandatory and from Mark, Sphere Motorsports in Houston.

    However, my concern is that the pricing seems to be inconsistent to what is being generally mentioned in the forums or threads, FML etc. Of course, nothing can be generic in buying a Ferrari, but a range is appreciated. At present few are available for sale in Houston, can someone share his/her thoughts on them.

    Thanking you all in anticipation.

    1) Cars for Sale: 2001 Ferrari 360 Spider in Houston, TX 77090: Convertible Details - 370891363 - AutoTrader.com

    2) Cars for Sale: 2003 Ferrari 360 Modena in Sugar Land, TX 77479: Coupe Details - 370597357 - AutoTrader.com

    3) Cars for Sale: 2001 Ferrari 360 Spider in Houston, TX 77057: Convertible Details - 370274993 - AutoTrader.com
     
  2. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
    Owner Silver Subscribed

    Nov 29, 2009
    23,049
    Honolulu
    Full Name:
    Kevin
    I would also use cars.com to sort for your results and if you are asking for free help it is nice to make it easy for us with links. I am sure many will chime in if you put up some links to cars that you want to discuss!
     
  3. delaney

    delaney Formula Junior

    Nov 8, 2003
    704
    St Petersburg, FL
    Full Name:
    PETER DELANEY
    If possible, you should extend your search area. It's a big outlay, and a few hundred $ to find the right car in a different location may prove beneficial.
     
  4. Skidkid

    Skidkid F1 Veteran
    Owner Rossa Subscribed

    Aug 25, 2005
    8,753
    Campbell, CA
    Full Name:
    John Zornes
    The odds of finding the exact car you want AND having it be in a specific town are VERY SMALL. You need to expand your search to cover the US. Shipping isn't that expensive.

    Pricing that gets thrown about on here is often wishful thinking by people who have never purchased a Ferrari and never will. Of course there are some good sources here too. What are you expecting to pay?

    Condition is pretty much everything with a car this age. Parts are expensive and repairs can add up quickly so be careful about fooling yourself that a specific car is a great deal. More often than not you get what you pay for so get the best car you can afford.
     
  5. Mallick_1984

    Mallick_1984 Rookie

    Apr 23, 2014
    45
    Houston
    Full Name:
    Abhishek Mallick
    First of all, Thanks to all for your quick responses.

    Let me begin my saying that I did search cars.com, checked e-bay(not to buy from there, but just to see what's out there) and Du-point etc. 90% of cars are common to them.

    Secondly, I am considering expanding my search range. I was looking in the Houston area, for the sake of convenience.

    Lastly, what I'm most concerned about is overpaying for no apparent reason. I wrote to 2 of the sellers, and they are immediately ready to lower prices in the range of 5-8k$, which puts doubts in my mind about the actual market value of the car. I am getting an impression that they are quoting very high prices with a mindset of heavy negotiation. Maybe I'm wrong, then again I don't know what to expect :(.

    So to be specific, I should be asking what is range of price (at present) for a good/excellent condition Modena F1 and F1 Spider?

    This is what I found at Forza magazine;
    Forza :: 360 Buyer's Guide : 360 Buyer's Guide : page 2


    And from FML;
    Ferrari market value

    Are any of these numbers representative of the current market?

    I will of course do a PPI, and everyone seems to be recommending Mark (from Sphere). But that is after some initial negotiation over pricing.
     
  6. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
    Owner Silver Subscribed

    Nov 29, 2009
    23,049
    Honolulu
    Full Name:
    Kevin
    I think just to appease your inner curiosity I feel like a 360 around 80K is probably the great buy range (for a fine example). What will you pay is another story. I just want to throw out the concept that sometimes the feeling of overpaying needs to be looked at carefully. Maybe you are also buying into a relationship with a dealer and service department and the support which that brings. I have certainly benefited by purchasing from the local dealership. I am invited to all sorts of rallys and events and have made a lot of new friends in the process. How do you put a value on that?
     
  7. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
    Owner Silver Subscribed

    Nov 29, 2009
    23,049
    Honolulu
    Full Name:
    Kevin
    What service did a 10K mile car need that was 16K? Doesn't sound right. Why mention that the car has never seen snow? Who the F is going to drive their F car in snow? PASS
    Nice looking car, the seats are desirable to some but make sure of the size of them. They come in S,M,L sizes. Large probably works for anyone but if you are big a small might not do. Best to actually sit in them for a while. PPI and negotiate away...or negotiate away based on a mutually acceptable PPI that happens before you pay. It's high season for car sales so who knows what you might get it for.
    Good price, you've got to do the work to find out why? Is it just the miles? 10 owners plus the high miles? 8 owners plus no service history? Auction car? or a 1 Owner carefully documented car that the awesome owner was ready to let go. Hard to tell. Maybe get an F-chatter to check it out for you? I never liked the fly by night dealerships because how did a real specimen car get out of the dealer network? or why didn't a friend of the owner want it? Still you could get lucky.
     
  8. BSU

    BSU Formula 3

    Mar 30, 2008
    1,013
    TX
    I think it would be worth paying a premium to get a car that you can inspect in-person and then have Mark do a PPI.

    No firm answer there. Best approach is to watch the market and get in touch with guys who have recently bought one.

    In short, no. The Forza numbers have never been correct. FML gives average asking prices, and that list is old.
     
  9. M. Brandon Motorcars

    Sponsor

    Sep 4, 2007
    1,765
    Houston, TX
    Full Name:
    Michael Foertsch
    Mallick: I run the dealership located in the same warehouse as Sphere Motorsports. I specialize in 10-30 year old Ferraris, including 360s.

    Give me a call: 832-617-0494 or e-mail [email protected]. I don't have a 360 in stock right now (although I have a great Spider coming in next week!), so I'm not trying to sell you a car. I would be happy to just talk 360s with you and give you some advice. Or, just stop in, meet Mark and the guys, and we'll talk Ferraris.
     
  10. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,746
    This is a MUCH better idea than trying to work with FOH....what a PITA that was.

    Also call Chris at Crave in the Woodlands....another quality independent who can get you a car.

    I had to travel to NJ to get my car, but 360s are plentiful around Houston.
     
  11. English Rebel

    English Rebel Formula 3

    Aug 13, 2013
    2,158
    Piedmont Area of NC
    Full Name:
    Alan
    Kevin
    Did you notice the "imported from Belgium" in 2006? That is strange -- did the first owner take it abroad with him (maybe an army guy posted to Europe) but there is no record of it being exported. Also on the Carfax report I only see two owners for this vehicle -- not 10.
    Alan
     
  12. delaney

    delaney Formula Junior

    Nov 8, 2003
    704
    St Petersburg, FL
    Full Name:
    PETER DELANEY
    Morning.

    I assume you've talked to mike Mcnamee or Grady Owens of the Ferrari club in Houston? Both excellent resources. Big club in Houston.

    Regards,

    Pete
     
  13. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
    Owner Silver Subscribed

    Nov 29, 2009
    23,049
    Honolulu
    Full Name:
    Kevin
    I didn't really dig too deep on any of those cars. I ran out of time. I like it when the collective "looks into" a car. I always learn from these exercises and threads. Belgium huh? 2 owners sounds great to me, especially if you can find documentation. Maybe poke around in the Belgium section (is there one?) to see if anyone knows this car?
     
  14. Mallick_1984

    Mallick_1984 Rookie

    Apr 23, 2014
    45
    Houston
    Full Name:
    Abhishek Mallick
    M Brandon Motorcars,

    It will be a pleasure to visit you guys, probably next week when the spider comes in? I'm going out of town tomorrow, but will be back towards the end of the next week.

    Thanks again for your message.

    Regards,

    Mallick
     
  15. Mallick_1984

    Mallick_1984 Rookie

    Apr 23, 2014
    45
    Houston
    Full Name:
    Abhishek Mallick
    Kevin, Alan, Peter,

    Thanks for posting your opinions. I did go and see one of them, 2nd one on my link and the car looks fine (preliminary opinion, based out of visual and test drive) but of course no history. They bought it from eBay, and now selling back. Auto-check reports suggests it was auctioned as the owner couldn't repay the loan.

    Over the next week, I'll try to personally see the other two but ain't expecting much. There is one more at Ferrari of Houston, Silver or Argentino Nurburgring (sorry if I spelled it incorrectly :) ). The car looks clean and records are in shape but it has been sitting there for over 130 days. Pricing at present is 89K, but surely one can negotiate.

    Anyways, thanks a lot for your replies.
     

Share This Page