360 value going down the toilet???

After all the 430s are built and the replacement hits..... 360s will become the Camaros of the next decade. Teenage yahoos will be buying them for way < 100K and modding the hell out of them.

Watch for the flame decals! MODena!

 

For what year? Considering you have had that 01 for sale forever with no takers and supposedly a great no story car I think your values are wishful thinking. How many cars sold in the month you are basing your 17% rise in costs? Say 2 cars were sold and they were 05 low mile spiders and the month before their was 1 car sold and it was a high mile 01. Now you have a skewed average. If you believe that wholsalers are paying 17% more for a 360 over last month you are dreaming. Why is your car not selling?

 

The 360s are dropping, but a good portion of that is that it's winter.

Art

 

First of all the 17% raise is not my number! Second Yes I am in the same boat, I have the cleanest MY01 on the market, and yes I have price on the car, and yes there has been offers at the buy number but for other reasons we have not been able to get the deals done! I belive that the reason my car has not sold, is because there are buyers out there think, they should wait until I am down in the $140's $130's for my car ..and I just simpley can not get that low....But the car will go on the network later today!!

I do not know how many have gone through the last month or where they got there number, but it is from there tracking and collecting data through there network I would assume and I do not know how many have sold either, but I do know that if they do sell then they have been 17% higher according to what there data has told them, or they have been at least asking more in turn not selling and making the market stalemate..but, besides like everyone here has said there in tons of cars on the market right now..so there should be tons for sale on the wholesale networks even at a request of "I need a car" now posting! But as of right now there are 9 cars as of today that I can buy with avg. price $146,260, and these are new cars on the network...there are 4 MY01's 1 MY02's 3 MY03's 1 MY05 right now as of today..I am sure over the last month there has been somewhere around 30?? I do know from my own search trying to buy a MY03 coupe that wholesale, I can not get down into the 120's or even the low to mid 130's..and I have buyer right now for the right car! I also know of a MY03 spider that traded yesterday in wholesale in the high $150's..WHOELSALE!!!

EDIT* I did go back re-read my first post, and I did make refrence to 9 cars over the last 30days..I want to make clear that is as of today..and there is no way for me to see the last 30 days....

 

Absolute peak of housing market was 11/05. It's been down hill since then.

 

I hope the values are going down the toilet because I will be in the market to buy a car in March.

 

I do too so then I can buy 2 instead of one!!

 

Chris,
Are you referring to asking prices at the wholesale level or "closed escrows". I can't imagine that sales prices, wholesale of retail or in between, have gone up 17%. I seem to be missing something. The downturn in the housing market has much to do with reduction in Ferrari prices. This is whether your home was your ATM or you just don't feel as wealthy as you did a couple of years ago.
Al

 

I don't see what the big shock is at this point... 360s aren't anywhere close to being the "flavor of the month" anymore and at this point, are just used cars. Expensive, capable used cars, but depreciating used cars just the same. This isn't a 360 bash, but to see the future of the 360 one only need look to where 308 values are right now. Except they produced even more 360s than 308s...

All those points made... I still want one! I think they're much cleaner looking than the current 430. I'll take a titainium/black six-speed please!

 

I feel like everyone is shooting the mesagers..right now if I as dealer went out to the networks to buy a 360 coupe or spider the asking prices from the other dealers are up 17%...thats all i was try to state!! I saw it myself yesterday with cars I am looking for...but i will see my MY01 that i putting on in just few mins..see what kind of numbers I will get for bids...

 

zillow is useless!

 

ouch!

 

Hey, I'm tell you the housing market is also up 17% in the past month really not joking....

 

Ok, well heres what I have, this is according to our own asking price index. See, about 2 years ago, it was tuff to discover the true market price on Lamborghini Murcielago's based on the sources that ware avabile to most dealers. Many just relayed on what there gut told them! So I being a numbers guy, decided to hire a full time employee to track the cars market price, and then based on the avg. diffrence between what Lambo's asking is and what they sold for. On avg. a murice had a diffrence between asking price and sold for amount around 2.43% or around $5,000. So the long of the short is we built a very nice database, with vin#'s of almost all the Murcielago's, Diablo's and recently in the last year 360's. And we know we have the asking price of every Murcie, Diablo's and 360 that have been advertised over the last 2 years. We track Dealership, color, and vin#, we pull Autocheck histories on all of them, and have a nice software product, called Car Catalog, that allows to see when a car that is the same, goes to a diffrent dealer, or is offered through some other source, huge miles increases, or miles being offered lower between sources! In the wholesale networks, the guys there always joke with me, because when they have a 360, Diablo, or Murcie pop up, they call me to offer the car, but I always know the car first! So it has became a great value to me as a dealer. Just to understand what is truly moving and for what price, based on industry standards.

We do what we call in house a "asking price index", yes only asking price! Simliar to that of the market letter, but we do year by year break downs, (which gets intresting with MY02's and MY03's) miles break downs, story cars, missing and autocheck alerts, colors, and options. Everyday we update new cars, and see if any cars have moved, and if a car like my spider has been on the market longer then 60 days we call the dealer to see if the car is still there.

So this morning after reading the debate here over a blog issued by a wholesale network, and my own search for a no story no question car, I decided I would put this rest! See what my own database says for just the asking price...So this morning I printed of just the 360's MY01 for example since I have a spider right now! I only pulled cars on the Retail side (we do track every car offered for wholesale as well, but like I said yesterday I do not know how many off the top of my head, Today though I do have the number) and only took a snap shot over the last 90 days.

I am having issues posting the database here in this format but there has been 54 cars offered on the market over the last 90 days, only MY01's 360's, but basicaly the prices of fallen 2.87% over the last 90 days,not per month but total, take another 2.43% diffrence in asking and true selling number and have the current true market! If anyone would like to see the database for the MY01's only feel free to PM me..and I can fax you a copy....

Now to adress more the questions here, I guess I did not write the blog, just the dealers that offering there cars over the month of January ware 17% higher on the prices then they ware in december..based on the raw data collected by the listing service that wrote blog! And from what I have myself saw there right....

 

I also wanted to add, that when the wholesale prices increase, car that ware bought cheaper all must rise in price...Just like gas prices for example! If I as a gas stion owner paid $1.00 for my fuel to sell, and overnight the price of fuel went up a $1.00..what happens to the fuel I paid $1.00 for yesterday? It must also rise the same, or I can not buy feul to replace what is in the pump....this called inventory profit spread. So if I bought a car last month and I paid $125k for it for example, and over the last 30 days the wholesale price went up, in cost, that would mean my $125k has to go up, or I can not replace the car when I sell it!

The reason a gas station example works, is because Ferrari and Lamborghini are driven by suppley and demand....as buyers belive the prices are falling and make offers and calls that in itself drive the demand higher, thus over night or in this case 30 day wholesale price increases takes place! So as I stated IF the wholesale number the dealers offering the cars for sale, has increased the cheaper clean no story cars will also have to rise or the selling dealer will lose his profit in buying stock inventory for the next 360 that he buys..do you guys follow?

All I was pointing out is that the trading networks are up in price..I do not know the reasons..but I do have the data to look at...

So forgive me if it appears as anything more then just that!

 

Here's one with 16K near Portland offered at $90K.

http://portland.craigslist.org/mlt/car/560176365.html

 

Lets see the 360 prices when the new entry level Ferrari comes out, and I'm not talking about the F430 replacement.

 

Looks like a Euro car and that sounds about right.

 

For what it is worth... I watch the dutch and (huge) german market closely as I have a 2000 360 Modena myself.
I bought mine in november 2006 and prices for the 2000/2001 cars have dropped down with 0% till now.
They have still the same prices everywhere...

Of course, I'm talking about the prices at the dealers and respective traders as buying a car on ebay is not popular in Europe.. we are afraid to get cheated and the dealers don't offer them there.

I guess the 430 like look has always helped the 360. That could change of course with a dramatically changed F-142 in a year and a half.

But hey, we didn't buy them as an investment right ? I knew I would loose money the moment I got the keys

 

any photos and info on the new entry ferrari?

 

And I'm hoping 360 spiders go down an even greater percentage because they made a TON of them.

They're HUNDREDS of them for sale EVERYWHERE

I predict $90k spiders by year end.

 

So, you hoping to buy one too?

 

That's a stretch. I am in a retail business, and I can tell you that if I buy 10 of a product for $800 each have them listed to sell for $1100 each, I do not bump the price up because the replacements will cost $1200 my cost due to a price increase. My inventory is priced to sell based on what I pay for it, so I would still sell those 10 at the $1100, as I am still making the $300 profit on each one. Then the replacements I pay $1100 for and mark them up accordingly. I see no reason if you paid $120K for a car that you want $140K to sell, it would mean that the wholesale price on another replacement being higher would mean you would HAVE to raise the price on the car you already bought at $120K.
I also think that it's incorrect to assume dealers will just sit on cars if they are not bringing the money. In the short term you can do it, especially if it's winter and your targa, spyder, etc. summer market car is not selling, but at some point the floorplan expense gets to be too much, and the cars (at least normal cars, including 360's) will continue to depreciate, which just puts you further into the hole.

 

Euro, manual. Same US, F1 car would command $15k more.