How much does a re-spray affect value | FerrariChat

How much does a re-spray affect value

Discussion in '360/430' started by THudgins, Sep 22, 2017.

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  1. THudgins

    THudgins Rookie

    Jan 17, 2008
    27
    Naples, FL
    Full Name:
    Ted Hudgins
    One of my friends has told me she's ready to sell her 06 F430 3 pedal Spyder (resale red & tan), but here's the catch. The dealer convinced her that all of the tiny dings, etc. would cost more to fix than a total re-spray @$30K. So, she went for it and I have to say, the paint looks very good, but how much will the market price drop? I think most buyers would presume it had been whacked pretty good, thereby necessitating the whole car paint job, but we have pics from before which helps. I haven't put a paint meter on it yet, but that's next and I hope it spec's out to .10 or less. The local mechanic @F1 thinks it will knock $40K off what an otherwise clean manual would bring but I thought I'd see what the consensus is on F Chat.
     
  2. koop

    koop Formula Junior

    Apr 30, 2011
    811
    Dealer is full of crap and sounds like they're trying to take advantage of your friend. All the tiny dings can be fixed by paintless dent removal guy for few hundred bucks. Rock chips are normal. Majority of small scuffs can be buffed out by a good detailer. If there are deep scratches in the paint, just have a body shop fix those panels. All in all, shouldn't cost you more than a few K to bring it up to snuff.

    You should see the condition of some of the cars dealers buy at auctions. At most, they may respray bumpers. I've never heard of anyone respraying an entire car for normal wear/tear.
     
  3. djempire

    djempire Formula Junior

    Apr 30, 2012
    613
    Toronto
    Full Name:
    Serf
    Wow! You're friend was taken for a ride.
     
  4. RossoC360

    RossoC360 Formula Junior
    Owner

    Jun 20, 2008
    475
    Buffalo NY
    Full Name:
    Jason
    How much dirt is in the new paint? dry edges? was the clear properly color sanded? Please post the name of the dealer.
     
  5. koop

    koop Formula Junior

    Apr 30, 2011
    811
    Just reread the post and didn't realize your friend already had it resprayed. Well on the bright side, it won't likely appear on a carfax since it wasn't due to an accident. Unless everything on the car was disassembled before paint, I'd venture to say that any picky buyer will be able to tell it has been painted. Manual 430 values are high because theyre sought by collectors. Most of these buyers will not want a repainted car unfortunately. As for the impact on value, 10-20% is my guess depending on the quality of the paint work.
     
    I'm 360 Canuck likes this.
  6. THudgins

    THudgins Rookie

    Jan 17, 2008
    27
    Naples, FL
    Full Name:
    Ted Hudgins
    Ferrari of Tampa Bay did the paintwork and it looks very good. We got kind of "distracted" here for the past couple of weeks but the car was safely in a garage so its still looks like it came from the shop.

    One of the reasons I'm tossing this out is that I was going to volunteer to list the care here and I don't want to put some outrageous price on it if the paint job really does have that big an impact. Moreover, the friend knows some 3 pedal Spyders are listed above $200K so the feedback here may induce some reasonableness into her selling price. Now there's 4 words that are almost never used together: Ferrari, reasonable selling price...
     
  7. RossoC360

    RossoC360 Formula Junior
    Owner

    Jun 20, 2008
    475
    Buffalo NY
    Full Name:
    Jason
    I would say 15k-30k market hit depending on the job, if a professional cant notice the paintwork and the associated tell tails of a less than perfect job I would say the impact on price would be on the lower side.
     
  8. RossoC360

    RossoC360 Formula Junior
    Owner

    Jun 20, 2008
    475
    Buffalo NY
    Full Name:
    Jason
    Also note that on a high mileage car the impact would be reduced IMHO.
     
    I'm 360 Canuck likes this.
  9. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,757
    most absurd statement ive heard in a while...referring to the original post
     
  10. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    15,866
    Charleston, SC
    Full Name:
    Curt
    Nobody will give a rats about the respray. Nobody. If someone comes to the table with a line "It's had a respray.. I think that I should pay you $30k less than the other car."
    1. Laugh at them. Yes.. actually laugh. And then tell them to buy the other car.
    2. There are buyers who want a perfect car to show to their friends and collect some medal that nobody cares about. These buyers prefer a car with 500 miles on it and perfect everything. That she entertained the respray means that it's not this car to begin with and the buyer for this car wouldn't be interested in the first place. If it's a driver and a car that has had use, price it a couple grand below a comparable example out there and sell it.
    3. Tell your friend to wipe the "sucker" painted on her forehead..
     
    Manda racing and Eric C like this.
  11. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    15,866
    Charleston, SC
    Full Name:
    Curt
    If a buyer doesn't like the car they can go buy one of the "plenty of other" 3-pedal 430's on the market. :)
     
    Manda racing and Eric C like this.
  12. Eric C

    Eric C F1 Veteran
    Rossa Subscribed

    Mar 20, 2009
    8,960
    St. Louis, MO
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    Eric
    I'm not sure what's more crazy. Her paying 30K for a paint job or the notion that a 30K paint job will reduce the value by 30K.
     
    Jason Crandall likes this.
  13. koop

    koop Formula Junior

    Apr 30, 2011
    811
  14. RossoC360

    RossoC360 Formula Junior
    Owner

    Jun 20, 2008
    475
    Buffalo NY
    Full Name:
    Jason
    Generally speaking i would assume on a 500 mile car priced at full market EVERYBODY would care due to the fact that a full repaint would certainly be a step back on condition and on a 50,000 mile car priced accordingly nobody would care due to the fact that a full repaint would probably be an improvement.
     
    sparetireless likes this.
  15. RossoC360

    RossoC360 Formula Junior
    Owner

    Jun 20, 2008
    475
    Buffalo NY
    Full Name:
    Jason
    I would hope that a 30k paint job doesn't look like a roller job and they used quality materials applied and finished by a pro and that she will most likely just eat the 30k for the paint job plus a negligible amount.
     
    Dave rocks likes this.
  16. arizonaitalian

    arizonaitalian F1 World Champ
    Owner Silver Subscribed

    Oct 29, 2010
    19,896
    Wyoming
    Not an apples to apples comparison.

    That CS *is* (imho and that of others) lower priced than comparable cars because it is not painted in its original color (nor even a ferrari color).

    A "respray" implies the same color as original. Again, imho, I think that is a different scenario. To answer the OP, I don't think that a fully documented respray with pics of the before should have a large negative impact on value (provided the "before" did not show much damage, but rather only paint chips, swirls, etc.). Frankly the oddest piece of this is repainting a whole car over some minor stuff. Certainly rare (because it doesn't make much sense).
     
  17. koop

    koop Formula Junior

    Apr 30, 2011
    811
    End of day, the guy with the "sucker" painted on his forehead is the one paying just a "couple grand below" for a story car. And yes, a full respray, even documented, is a story.
     
    cozmo920 likes this.
  18. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,757
    on a 10 year old car i agree, its a story. on a 25+ yr old car its not a story.
     
    sparetireless and I'm 360 Canuck like this.
  19. arizonaitalian

    arizonaitalian F1 World Champ
    Owner Silver Subscribed

    Oct 29, 2010
    19,896
    Wyoming
    so true. Such an odd thing this ferrari buying
     
  20. RossoC360

    RossoC360 Formula Junior
    Owner

    Jun 20, 2008
    475
    Buffalo NY
    Full Name:
    Jason
    Agreed
     
  21. efg2014

    efg2014 Formula Junior

    Sep 14, 2014
    611
    Northern California
    If it was a 275GTB, it wouldn't make an iota of difference. The question which can come up in this case is what were they trying to hide? Personally if two cars were about equal, one with a respray and the other without, I'd opt for the later. I'd even pay more for the one without a respray. I'm not suggesting the authors story is contrived and/or the friend is dishonest.
     
    Thrasher likes this.
  22. blackbolt22

    blackbolt22 F1 Veteran

    Sep 25, 2007
    5,751
    Boca Raton, FL
    Full Name:
    Mr. Anderson
    I finally got my transmission repaired . Next on the list is a front end respray. I have hundreds of chips, way too many scratches etc to repair.

    I do not care what it does for resale. Repeat. I do not care if it affects the value of the car or not.
     
    hessank likes this.
  23. koop

    koop Formula Junior

    Apr 30, 2011
    811
    Agreed about age/miles negating the impact. But also lets keep in mind that older cars, and definitely classics like 275GTB, most likely have not just been "resprayed" but rather "restored". The work is often done by highly reputable restoration shops, with the utmost attention to detail. Every part is carefully disassembled, the chassis is reconditioned, every inch of the paint is wet sanded to a mirror finish and then the final result is most definitely superior to the original paint job. The paint work alone on this type of restoration, when done properly, will cost more than a regular bodyshop $30k respray. On a classic car, I would pay a premium for a quality restoration. Ferrari of Tampa of course didn't do the work themselves, they most likely sent the car off the same body shop that cleans up all their trade-ins. If the dealer quoted you $30k for the job, they probably got it done for $20k.

    Also there's a difference between repainting a bumper or even the nose of the car vs the entire body. If the entire car was painted, most likely the shop simply masked off door jams, windows, etc. If you lift up the rubber seals and look carefully, you'll probably find paint lines. If a buyer sees signs of a repaint, how is he/she going to rule out the possibility of an accident? Just because you have documentation of the work doesn't mean the car wasn't hit a week later. The uncertainty alone can have an effect on value. Bottom line is, if the owner wants to move the car, she will need to price it at a point where buyers feel its worth taking a risk and any future resale downside is minimized.
     
    Thrasher likes this.
  24. Thrasher

    Thrasher Formula Junior

    May 26, 2012
    281
    London UK
    I would ad further on a +25yr old rare low volume car...I would and I'm sure most buyers would discount a 308/328 if it had had a full repaint in its young life: different story if it had a new paint recently as part of a restoration.
     
  25. bocaf430

    bocaf430 Formula 3

    Jun 10, 2014
    1,361
    LI, boca raton
    I'm sure it could have been painted for a lot less $ then $30k.....
     

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