I think the article is wrong, for a different reason. just off the top of my head, the following cars have slower "depreciation". LaF Speciale A (but this is a 458 so may not count) 911 R GT3RS if we go back in time... 599 GTO 288 GTO 16M F40 F50 Enzo 993 TT McL F1 250GTO (also a bunch older ferraris) before anyone say "but they are collectible cars", what criteria is used to determined collectibility vs others?
A fitting homage to the true ultimate driving machine (street car wise), imho at any price - as per with my mods that is Bravo Nuno!!! xoxoxoxo
Exactly Nuno !!! I owned a 458 and traded it when I got my Speciale. The Ferrari dealer sold it within a week and there are next to no secondhand cars on the market. Those that are there are with asking prices 25% more than I got 2 years ago. The same reason as above is why one should consider an F12 or 812S. A dying breed that will be very sought after.
I am a little confused about this discussion. I thought it was good that 458 depreciated the least? Great for 458 owners. Are Ferrari owners that traded up to 488 or sold their 458 now upset? Confused 458 owner.
I for one am stoked that 458 spider prices are down from $285-315 when I was looking to the mid $250's now. I want to buy back in after a little fun when the 488 spider shows up. That's how much I adore the NA high revving motor.
One year ago I bought a 2013 Spider with 2500 miles on it. A fairly high priced car optioned out to 332K. I paid 262K. So the original owner paid seventy thousand dollars for the privilege of driving 2500 miles. I've owned it for a year and I certainly see a softening in price- probably down to 220K maybe LESS since now it almost has 8000 miles on it. The depreciation for the original owner figures out to TWENTY-EIGHT dollars per mile. So if this isn't a rapidly depreciating car- what is? 110 grand is NOT pocket change to most people.
I am stoked too about reading this info! I love my 458 and nothing beats the sound of the 458 with the IPE F1 Titanium exhaust!
Ah, the devil is in the details! My buddy (multiple Ferrari owner like myself) have had this exact conversation. Yes, in percentage terms the Ferrari may depreciate less than many other high line cars. Even less than say a VW GTi or Honda Accord Sport (which have great resale). BUT, in absolute dollars, a 30% hit off >300K is more than a 50% hit off a 110K car. Or the 60% in many BMW, MB, and some Porsches experience at 5 years. Yup, drivng a regular production Ferrari V8 is not cheap in absolute terms. In percent and absolute dollars, the FF et al are far worse. It should be noted that the article was from England, not the US where the number of cars is far more. American depreciation is still more than in the UK based on that article. Best
Probably true if you just sit and look at your 458... try actually putting miles on it and see what happens. They drop like a rock in value. I forgot the vast majority of you only put 1-2k miles on your Ferraris. Sad.
LOL. What the ****? Average new price: £206,955 Average percentage retained: 93.5 per cent Um, yeah, no.
I did 8k in 10 months. So I feel you. My car also lost a good bit of value as a result. You and I are rare. Most of these guys might own 10 Ferraris and not have put that type of miles on them.
Well, I'm with you guys. I put 10,200 miles on my Spider in the past 11 months! Loved every minute of it, wouldn't trade the time spent in that car for additional resale dollars. I didn't buy it to stare at it. Already changed tires once, and will likely do it again within the next 5K! That said, the 458 is well treated, not abused in any way, and looks and drives as good as it did the first day I put it on the road. For me, life's too short to let it sit in my garage! Jim
The 458 Italia is the only car, out of 30+ in my family over 35 years, that I appreciate more and more. That to me counts for something other than money. IMHO, if one cares about monetary depreciation over all other factors related to ownership, then he/she should never own an exotic (or most other premium) car. If the other non-monetary factors speak to you equally or more loudly, then the myriad reasons ought to more than compensate for the loss in so-called market value. To those of us that probably will never sell the 458, depreciation is merely a financial concept; it is only made real with a sale, a divorce as a result of love lost - that to me is the real depreciation. Similar to many other older unique Ferrari models, the 458 has the potentials to be a good financial investment over time. It's the first and last of many special reasons in Ferrari's as well as the automotive history. When availability begins to decrease over time in the used market, we may see appreciation returns. Unless Ferrari brings back the NA V8, the 458 is as good as it gets in overall car ownership.
I bought mine with 11,700 miles two months ago.. it's now at almost 14,000. It is incredibly addictive to drive - and even though I have other "fun" cars, the Italia is a really hard thing to pass up day in and day out! Thank god my Viper can't get mad at me
Thank you very much guys, I really appreaciate it. When it comes from members I deeply respect, admire and learn from on a daily basis, it means the world to me. Kindest regards to all of you, Nuno.
Very well said, Jim. Like I said in the past, these modern Ferraris are a thrill and a joy to drive. Furthermore, they're extremely reliable, versatile and user-friendly, unlike most Ferraris of old, which in turn will result in owners driving and enjoying them more, not less. Therefore, I believe we (and the market!) must readapt the notion of high mileage on a used 458-onwards Ferrari. For instance: one may consider 60.000km on a 328 or a 355 as "a lot", but that kind of mileage is nothing on a 458 or a 488, if the car wasn't abused and if it was maintained properly. 60.000km isn't the same on a currently produced Ferrari and on a 80s or 90s Ferrari. Depreciation/appreciation has to reflect that sooner or later, imho. I have a dream: that mileage on a properly maintained car with few owners and accident-free doesn't dictate the biggest part of the value of a car. Nowadays, mileage is the undisputed factor when it comes to pricing a car for sale. I say there's a heck of a lot more to it. It's about time we stop getting penalised for enjoying it, driving it and maintaining it. We don't like garage queens as they're a ticking time bomb in terms of potential mechanical/electronic problems. We also don't like high mileage cars, even if we differ on what a high mileage car is. What now gentlemen? We're all chasing unicorns and opening the door to speculation. Life doesn't have to be this complicated on this matter. I therefore think we'll have to rethink the concept of mileage and its direct link to depreciation and/or appreciation. That's one of the hurdles around the corner that the used Ferrari market will have to come to terms with in the coming future. Very sound analysis, in my humble opinion. Agree to the fullest extent. Kind regards, Nuno.
Let's forget about cars for a moment, even cash depreciates over time at about the rate as a used production Ferrari, average about 3-4% annually due to general inflation in a given economy. If you dare to include the ever-increasing MSRP on new Ferraris, then the rate of 'depreciation' (loss in purchasing power) of cash is even higher.
This is all super misleading as they work of MRP and of course a Ferrari usually has 100USD options. Yes low depreciation but in UK maybe 35% over 3 years.
I believe that the fact that some/all things depreciate, namely a supercar, isn't new. I also believe no one is making a case saying that the 458 doesn't depreciate at all or is immune to that. What that article shows is that from all the things that depreciate, the 458 is the one that does so less and is less prone to that phenomenon. Again: that can also be said about 99.9% of all supercars, and yet the one that depreciates the least is the 458. Kind regards, Nuno.
Generally speaking the 458 depreciates less because so many on the market with very low miles. Like 6 year old cars with delivery miles or <2k miles can be easily found. But when the mileage climbs over 10k, and certainly 20k, well you can't give them away and therefore the depreciation is huge.
...and that is the part that is laughable. A engine that is supposed to be built as good as it gets really... people freaked out over 10-20k miles. But will pay top dollar still for a Tacoma with 100k miles on it. Its amazing the mentality.
