I see the eBay listing now... $164K. Thanks.
At this rate a guy driving a ZR1 will be able to say "I could of bought a 430" for the same money, but wanted a "faster" car. When we see teenagers driving a Ferrari to High School, we will know Armeggedon is upon us. Best
And that is why I partly believe we have seen prices come back alittle more (that and end of the year tax savings). The guy that was wanting a ZR1 now can truly buy a 430 making the demand more. With only 32% of 430 production coming to the USA (So I have been told) it wont take long for the demand to out strip the supply once again with prices where they are now. I believe the prices down will be good thing overall, brings in more car guys...but there are only so many cars to pick from. That being said Corvette is stopping production on the ZR1's for the rest of the year we have been told, and dealers are holding tight to over MSRP at least on the certain colors!
I came thisclose last April to buying an '04 60 spider, ~1800 miles, but the guy wouldn't come down below$170k..At that point, I took a look around, considered the economic environment we were entering, and remembered my experience buying my Mondial-T and prices on the "out of reach" 348 (which I didn't really care for anyway) subsequently come down...Then I remembered when I was buying my 355 and the "out of reach" car/new Homecoming Queen, the 360. I reminded myself that unless we're talking collector kind of stuff, this is a depreciating asset, like any other car. I walked from that 360 at $162k, and spent 1 summer of my life without a drop-top, hoping to sell my 355. So sad, but I survived. The bad news is I've probably lost $15k-$20k on what I'll get for my '97 355 (18k miles)...The good news is that before this is all done, I expect to be driving a low mileage '07 430 spider this summer, and doubt I'll end up paying more than $180k. I don't want to be a killjoy for anyone who thinks these cars will still be $225k or more once the weather turns, but these guys looking at the "offered" side aren't seeing a two-sided market and/or aren't realizing the world has changed, from the general attitude about expenditures of this sort now, to the more pragmatic issue of how many dealers are wondering how they're going to continue to finance/floor-plan these things (especially those who aren't authorized dealers). I'm going to do a black/black, but right now my biggest dilemma isn't whether I'll be able to get a car, but whether I'll opt for one with the contrast stitching. ;-D
When I do sell my 360 it will likely have loss far more value than I could have imagined. While this is unfortunate, I do not for one minute regret the purchase or the glorious miles I have put on it since I purchased it a year ago. Will it be worth 20k less than I figured?...no doubt!! But I would do it all over again! Drive them in good health and sell them when you are done with them. Best JBD
Ebay has a few 06 Spiders - 1 06 at dealer for buy it now of 189k$ Black/Tan. I get the feeling you will get that 07 at your target price. Im sure this dealer would take a bit less anyway now for this 06. Its a buyers market and will be for a while. Good luck!
I think the market is probably very close to that price right now. The fact is that many sellers are still asking completely unrealistic prices. Wholesale on most 07 spiders is about $15k-$20k back from that.
An auto broker I know claims to have purchased a 2005 F430 coupe in red/tan, 6-speed with 14K on the clock, clean title in good condition from a guy who was desperate for cash. He said he quickly resold it for a profit. I don't know if this is true, but I do know of another F430 for sale at $105K with 40K on the clock - also an '05 coupe but with F1. Are these new lows? Anyone else heard of deals in this range?
Well, you didn't say how much he claimed he bought it for. P.S. Prepare for a pummeling on this thread.
Oh sorry, I meant to say that broker claimed he purchased it for $87K. It's okay, pummel away. He is a client of mine and has no motive to lie to me. He could be full of sh*t but that's what he told me. He did acknowledge it was an unusual deal with a seller that was desperate for cash and had to part with the car immediately.
i call bs on that since ones that have been in accidents are selling for above that. maybe a salvage title and a bad repair job????
can't put too much stock in that. there are always deals to be had. doesn't mean that resets the market price. If a private sellers gets $190 for his car, does that mean that the market is now on the upswing? just means that a buyer and a seller came to an agreement on price. yes prices are trending down. but you won't see sub 100k 430s for a long time IMO. because if you did, you'd be seeing quality 360s below $60. emphasis on quality. I've looked at a lot of cars in my buying process, anyone who says there are nice 360s for anywhere near that price has never gone to look at one advertised in that range... Matt
What Auction company, because I do not see those numbers on the MMR here this morning? Here are the MMR numbers this morning on the internet vesion of MMR through Manheim on MY05 430's Coupes....(Real Sales) 09/25/08 RIVRSIDE Lease $147,000 15,833 Avg RED 8G 6 No 07/10/08 NEVADA Regular $165,000 18,841 Avg RED 8G 6 No 03/27/08 RIVRSIDE Lease $170,000 8,894 Avg RED 8G A No 03/12/08 W PALM Regular $202,000 3,930 Avg RED 8G A No 10/24/07 W PALM Regular $190,000 9,928 Avg RED 8G 6 No 10/11/07 RIVRSIDE Lease $189,000 7,217 Avg RED 8G A No 08/02/07 RIVRSIDE Regular $189,500 10,994 Avg LT BLUE 8G A No 07/26/07 MANHEIM Regular $213,750 2,643 Avg RED 8G A No 06/21/07 RIVRSIDE Regular $209,000 7,275 Avg RED 8G A No 05/31/07 MANHEIM Regular $207,000 2,088 Avg RED 8G No 05/17/07 MANHEIM Regular $206,000 17,287 Avg RED 8G No 05/03/07 MANHEIM Regular $230,000 2,063 Avg RED 8G No 04/26/07 RIVRSIDE Regular $195,000 9,919 Avg LT BLUE 8G A No 04/19/07 MANHEIM Regular $226,000 2,315 Avg BLACK 8G A No 03/13/07 W PALM Regular $217,000 1,943 Avg RED 8G T No 02/22/07 MANHEIM Regular $219,000 1,885 Avg RED 8G 6 No 02/14/07 W PALM Regular $229,000 1,938 Avg RED 8G A No Copyright © 1996-2008 Manheim
6]I came thisclose last April to buying an '04 60 spider, ~1800 miles, but the guy wouldn't come down below$170k..At that point, I took a look around, considered the economic environment we were entering, and remembered my experience buying my Mondial-T and prices on the "out of reach" 348 (which I didn't really care for anyway) subsequently come down...Then I remembered when I was buying my 355 and the "out of reach" car/new Homecoming Queen, the 360. I reminded myself that unless we're talking collector kind of stuff, this is a depreciating asset, like any other car. I walked from that 360 at $162k, and spent 1 summer of my life without a drop-top, hoping to sell my 355. So sad, but I survived. The bad news is I've probably lost $15k-$20k on what I'll get for my '97 355 (18k miles)...The good news is that before this is all done, I expect to be driving a low mileage '07 430 spider this summer, and doubt I'll end up paying more than $180k. I don't want to be a killjoy for anyone who thinks these cars will still be $225k or more once the weather turns, but these guys looking at the "offered" side aren't seeing a two-sided market and/or aren't realizing the world has changed, from the general attitude about expenditures of this sort now, to the more pragmatic issue of how many dealers are wondering how they're going to continue to finance/floor-plan these things (especially those who aren't authorized dealers). I'm going to do a black/black, but right now my biggest dilemma isn't whether I'll be able to get a car, but whether I'll opt for one with the contrast stitching. ;-D ================================================================================================ had my car guy call a dealer selling an '07 (still on his website @ $279k...hey, which means his website hasn't checked its 401k lately or has a great sense of humor ;-D)...funny thing is, the first guy he called was within spitting distance of what low mileage '07s should be now ($175-$180k, based upon watching this stuff slide over the last 8 mths)..apparently though, this dealership lets strangers off the street answer the phone because today my guy got the honcho, who was like "Whoa, I've got too much into that car!" (never mind that he'd double-dipped a guy on a new Lambo...they don't, errr, ummm, like talking about that end too much ;-D)...so which means I guess I'll be on to the next seller of a black '07 or '06 because someone hasn't figured out that the mkt doesn't care any more about what things were like a year ago than a dealer cares about what MSRP is when they're selling a hot-ticket car with a waiting list, and the calendar is not his friend...But, some people get it, as I am noticing the "Buy it now!" levels on e-Bay are coming down...and pretty soon some of these dreamers are going to realize that spring won't bring the bump they're hoping for...just a slightly older car and likely more listings to compete with...I can't wait :-D
pahig - Reading your post made my head hurt, but I agree with most of your thoughts. 430 will be within reasonable reach faster than I thought!
There is nothing amazing about that at all. In a down economy there isn't anything 'exotic' anymore, unless it's extremely LIMITED production. The F430 had been widely produced and available since 2005. SO STANDARD AUTO DEPRECIATION NOW APPLIES. The general rule is that new cars are only worth 60% of their sticker value within about the first 2 years from purchase. So $230K times 60% = $138K I welcome Ferrari to the real world. To digress into Lambo land for a moment, right now, at authorized Lambo dealers, for brand new 08' Gallardo spiders still sitting on their floors, they are discounting $75K+ BELOW STICKER price.
So you're saying that an 07 F430 coupe or spider is now worth only $138k. Wow I find that hard to believe because I haven't seen one at that price yet.
I think that particular Craigslist post is somewhat of an anomoly, but yes that is exactly what I'm saying, at the wholesale level. Take someone who bought any F430 2 years ago and take into a dealer and ask them what they'd get for it on a trade, and I don't see any dealer offering more than 60% of sticker price. Current retail may be a bit higher, but not by much, and the prices are only headed in one direction.
One of the more interesting anomalies in this market is the much better resale pricing strength of the Porsche line, in particular the GT3 and RS. In the past, Ferrari always outperformed Porsche in the depreciation area...not even close now. Gary
yep, what was true before just doesn't apply anymore. Oh well, I paid top dollar for my 430 two years ago and have put close to 25K miles on it to date. I wonder what my dealer would offer me on trade today? Im guessing it is less than 50% of what I paid.....actually........50% less than sticker! I personally couldn't care less since it's the best car I have ever owned or driven. I will keep her forever and buy the 430 replacement in year 3 of production.
I've noticed this as well. Although the GT3RS is starting to trickle downward as well as the rest...........but for some reason not like the Ferraris have. But I wouldn't expect that to last. Its a blood letting out there. Expect to keep any exotic purchased now for the long haul.
Any 07 spider with a few options had a typical MSRP in the $230's. So that car can today be bought for $138K? I would like to buy two right now.
Aside from the CGT Porsche cars never carried the exorbitant premium Ferraris did. The 3 and RS are truly limited production cars hence, slower depreciation.
I looked at an '06 430 today - lots of carbon fiber, ceramic brakes, leather options, MRSP $240's. They wanted $192,900. I may have to negotiate.
