Newbie Question about Reselling Ferrari F355 | FerrariChat

Newbie Question about Reselling Ferrari F355

Discussion in '348/355' started by schefdeh5, Nov 3, 2008.

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  1. schefdeh5

    schefdeh5 Formula 3

    Nov 2, 2008
    1,529
    U.S.A.
    Hey guys.

    Soon inshallah I'm going to buy a Ferrari F355. I was wondering how it holds its value. Most likely I'm looking at 1997 with about 25,000 miles , color would be yellow, paying around $60,000 for it. My question is: If I want to resell it in the next few months or years, would it hold a good value or would it depreciate very quickly? I would be selling it individually. Also, do Ferraris around here get sold quickly when sold by owners?

    I'm trying to drive it and enjoy it for a few months before I go off to Dubai for some engineering work inshallah. That's why, I have to sell it if anyone is wondering why. I just feel like I have to drive this beautiful car in the U.S.....and I would hate to leave it in the U.S. to sit in my garage for a year or two.....I'd rather someone else enjoy it.

    Please let this newbie know.

    Thanks,

    Schaf


    Here's how it's supposed to look like....just for fun:

    [​IMG]
     
  2. RossoCorsaItaly

    RossoCorsaItaly F1 Rookie
    Rossa Subscribed

    Jun 9, 2004
    4,681
    LA & OKC
    Full Name:
    Kevin
    It varies, sometimes the car will sell really quickly other times you just have to wait for the right buyer to come along. I would say it's a bad idea in this economy to buy an F355 with the intentions of reselling it quickly.

    You may be able to turn a quick sale but only make the move if you can afford to either (A) hold onto the car and have a friend/relative sell it or (B) take a hit on it to dump it quick.
     
  3. cuneo

    cuneo Formula 3
    Silver Subscribed

    Nov 20, 2006
    2,457
    +1. Good advice, fo sho.
     
  4. 285ferrari

    285ferrari Two Time F1 World Champ
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    Sep 11, 2004
    20,950
    MD and NE
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    Robbie
  5. James-NZ

    James-NZ F1 Veteran

    Jun 26, 2007
    5,822
    Hamilton, NewZealand
    Full Name:
    James
    In that posistion I would rent one for a few weekends, will cost you less and be almost as fun.

    Buy one in Dubai, a 355 over there would be a rare sight. :)
     
  6. James-NZ

    James-NZ F1 Veteran

    Jun 26, 2007
    5,822
    Hamilton, NewZealand
    Full Name:
    James
  7. Dean355

    Dean355 Formula 3

    Sep 4, 2006
    1,101
    South Florida
    Full Name:
    Dean
  8. Fpassion

    Fpassion Formula Junior

    Jun 1, 2005
    599

    Well God-willing this car does not need $20k worth of work, but chances are it needs headers and has not had major service but if it has at $50-55k its a beautiful machine. If this car has the factory carbon fiber package that adds to the value IMO, call Ferrari run the vin and find out.

    http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=253553578&dealer_id=54463915&car_year=1995&num_records=25&model=F355&systime=&make2=&highlightFirstMakeModel=&start_year=1981&engine=&keywordsrep=&keywordsrep=&keywordsfyc=&keywordsfyc=&certified=&fuel=&body_code=0&awsp=false&search_type=both&distance=0&marketZipError=false&search_lang=en&showZipError=n&first_record=26&make=FER&color=&keywords_display=&page_location=findacar%3A%3Aispsearchform&min_price=1&drive=&default_sort=yearDESC&seller_type=b&max_mileage=&style_flag=1&sort_type=yearDESC&address=20866&advanced=y&end_year=2009&pager.offset=25&transmission=&doors=&max_price=75000&cardist=1244

    In VA check this one out.

    http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=248797453&dealer_id=6134453&car_year=1996&model=F355&num_records=25&systime=&make2=&highlightFirstMakeModel=&start_year=1981&keywordsfyc=&keywordsfyc=&keywordsrep=&keywordsrep=&engine=&certified=&body_code=0&fuel=&awsp=false&search_type=both&distance=0&marketZipError=false&search_lang=en&showZipError=n&make=FER&keywords_display=&color=&page_location=findacar%3A%3Aispsearchform&min_price=1&drive=&default_sort=yearDESC&seller_type=b&max_mileage=&style_flag=1&sort_type=yearDESC&address=20866&advanced=y&end_year=2009&doors=&transmission=&max_price=75000&cardist=28

    In your price range.

    http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=252519743&dealer_id=100010280&car_year=1995&num_records=25&model=F355&systime=&make2=&highlightFirstMakeModel=&start_year=1981&engine=&keywordsrep=&keywordsrep=&keywordsfyc=&keywordsfyc=&certified=&fuel=&body_code=0&awsp=false&search_type=both&distance=0&marketZipError=false&search_lang=en&showZipError=n&first_record=26&make=FER&color=&keywords_display=&page_location=findacar%3A%3Aispsearchform&min_price=1&drive=&default_sort=yearDESC&seller_type=b&max_mileage=&style_flag=1&sort_type=yearDESC&address=20866&advanced=y&end_year=2009&pager.offset=25&transmission=&doors=&max_price=75000&cardist=930
     
  9. nizam

    nizam Formula 3
    Owner Silver Subscribed

    Jul 9, 2004
    1,563
    San Jose, CA
    Full Name:
    Ni Zam
    +2

    Salam, Schef. If you have an itch to scratch, look into exotic car rentals in your area. I know there's one in NY (Gotham Dream Cars) that have 360's for rent.

    No point in buying a used F355 then having to potentially bring it up to current maintenance levels, and only enjoying it for a few weeks out of the year before selling it again. If you still need to own one after you come back from Dubai, the good news is they will be even cheaper then (or you could just buy a 360!)
     
  10. Fpassion

    Fpassion Formula Junior

    Jun 1, 2005
    599

    Or he could find an Al-thani in Qatar and buy a Modena for $50k or a 355 for $30k in Dubai.
     
  11. TheRye

    TheRye Rookie

    Oct 4, 2008
    48
    Reston, VA
     
  12. 285ferrari

    285ferrari Two Time F1 World Champ
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    Sep 11, 2004
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    Robbie
    Holy cow--they are that cheap over there?
     
  13. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
    western hemisphere
    Hey, who says you can't day trade Ferraris?
     
  14. schefdeh5

    schefdeh5 Formula 3

    Nov 2, 2008
    1,529
    U.S.A.
    Thanks everyone for the responses.

    No, I'm not a kid playing around. One of the Ferrari guys told me that $70k for a '97 F355 was too much, so I was thinking I might get one for around $60K........the picture the is purely for fun as it states.

    So anyway.....renting a F355 might seem like a good idea. If somehow I can get my hands on a nice yellow F355 in Dubai inshallah, I'm up for it. I like the Ferrari community though, a very nice and supporting one.

    Thanks everyone, and please let me know more information about this beauty.

    Wa'salaam,

    Schaf
     
  15. 348guy

    348guy Karting

    Nov 28, 2007
    163
    Ashburn, VA
    Full Name:
    Rob
    Schaf, I'm also in Northern VA. I'll gladly 'watch' it for you while you're gone. :) No charge. :)
     
  16. schefdeh5

    schefdeh5 Formula 3

    Nov 2, 2008
    1,529
    U.S.A.
    Hahahahahaha.....I'll be sure to let you know
     

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