Advice needed on selling high mileage 360

My 2000 coupe has almost 62,000 miles on it. I can't find one for sale with nearly that many miles on it, and so cannot get a reference on a fair selling price. Any ideas? Broker? How would I find one?
Thanks.

 

http://ferrarichat.com/forum/showthread.php?t=265844
likely still fairly valid...

 

So approx, $50K? Maybe so although as mileage increases the hit per mile has to decrease. You can't just keep
deducting 78 cents per mile.

 

Can you give me some details on the car? Pics?
Is it manual or F1?


PM me if you like.

Jim

 

62k probably means its a well sorted car & all the typical repair issues have been addressed.
Great vehicle for someone to actually drive & enjoy instead of worrying about depreciation..

As long as its in great shape cosmetically & mechanically ... who cares. Obviously going to be bargain priced!

Good luck with sale,
Chris

 

If all is in shape I was thinking about a 62K price. And I also agree you can't just keep knocking off a flat per mile price in a formula. More of a logarithmic effect.

 

this car has a $74K buy it now price and 15M

http://cgi.ebay.com/ebaymotors/Ferrari-360-Coupe-2000-Ferrari-360-Modena-Coupe-15k-Rossa-Fiorano_W0QQitemZ140380108651QQihZ004QQcategoryZ84156QQcmdZViewItemQQ_trksidZp4340.m444QQ_trkparmsZalgo%3DCRX%26its%3DC%252BS%26itu%3DSI%252BUA%252BLM%252BLA%26otn%3D5%26ps%3D63%26clkid%3D7685850186051452577

A car with 4 times as many miles but only $12K cheaper? I don't think so.

 

OK, so if not 12K cheaper, how much? Where would you place it?

 

You should list colours, options, etc. so people can guide you properly. Just a pure mileage play won't yield proper pricing.

 

based on his profile it's a rossa corsa 6-speed.

 

If my 2000 with 21K miles is worth approx $70K, and I'd probably have to work to get that, then I'd suggest that $60K would be a push.

60,000 miles is a lot of miles, it's gonna scare away 90% of the buyers, if not more.

Quick sale? Your car is red/tan? paddles or stick? It has shields, and a challenge grill.

$50K+- is my best guess. More than that is gonna be tough.

DM

 

Did you tried the formula stablished on a previous thread. It is very fair to me.

 

I can't say for sure, but I have a roughly 51k mile Modena and I sure won't be giving my car away based on depreciation formulas and people's fear of mileage. I feel that the price should be somewhere in the high $50k's. Say $57k to $60k, depending on what options it has, service records and clean bill of health. Don't let people beat you down to thinking that the car is worthless.

62,000 miles is only 7750 per year. It really isn't that outrageous.

 

Formula results = $51K+-

 

I think you'd have to take off at least 50 cents per mile for the extra 47M-- so, yes, about $50K.

How many miles do Ferraris last?
Are there many 150M 308's out there?

Italian cars are not made with longevity in mind.

 

lol at 50k.

This is all speculation since we have not seen photos/service history of said vehicle..
However if the services are done & all the $$$$ issues have been corrected- I agree with dmaury, you cannot keep deducting.

I would rather have a well sorted vehicle than a garage queen. The garage queens will thousand dollar you to death. A driven kept up, sorted car will be dependable & cheaper to maintain more often than not.

Wait until all these 360's & 430's actually start having "normal" mileage... in the "old" days of ferraris the odometer was as easy to disconnect as it is to start up a car...

If people wish to own a Ferrari to look at & polish, instead of drive it, by all means have at it. Kinda like marrying the prom queen & not living up to nightly fun... others will while you just stare at her

 

I just looked at Autotrader.com. There are 5 ca 1982 308's for sale with mileage ranges of 37-56M.

The vast majority of Ferraris do not accumulate "normal" mileages. They get taken out once a month for a spin.

Did you or someone you know drive around with the speedometer and odometer disconnected? I don't think you should assume everyone does that.

 

I am with the low $50k chorus...AND it will continue to depreciate until all other 360's catch up to it in mileage. When you have more miles than almost any other 360 out there you should expect to be at the very bottom of the price scale. People will STILL expect the car to be cared for, look good and have no mechanical issues btw... I think even at $55k that will be one tough sale!

I do also agree that a regularly driven car is preferable if the new owner plans to drive the car much at all...

YMMV!

 

The negative is that there are very few benchmarks for a high mileage 360. The positive is that there are very few benchmarks for a high mileage 360! In other words - at a $60k asking price for instance - there is no competition price-wise. If someone doesn't really care about the mileage and simply wants to have a 360 then your car is it. It's not like they have the ability to shop you against the other six high mileage 360s. You have no competition. The hurdle might be to find the one buyer that doesn't mind he mileage. For mid to high $50s they can own a car that is perceived to have a value closer to $100k. I'd start out at $60k and work your way from there. You can always adjust down but it's very difficult to adjust up!

 

The kind of buyer for that car will be a guy that can't really afford one so it'll mostly be about price.(the compromise for high miles) Like the guy a few posts above he's bottom feeding but that's the kind guy that will buy. Kick it around on ebay and see if you get bites there? Be realistic if you need to move it. I'd forget trying to advertise here.

P.S. - with all the hassle you went through to buy that thing I'd at least figure you'd be driving it into the ground? J/K Good luck with the sale.

 

Agree. I think I would pay $55k if all services are up to date, major within a year maximun, fresh clutch and needing nothing at all.

 

I hope you personnally put all this mileage on the car... If so, then 50, 55 or 60k$ doesn't matter anymore because you have already been paid by the joy of driving it
I am kind of being in the same shoes on my spider. I challenge anyone seeing my car and test driving it to guess how many miles it has on it (without cheating and peaking ) ... These cars last forever if they are are well taken care of with all the records...
Mileage to me comes second after Care & Records... This is true on a Ferrari as well as on any other car.
If money is important to you , shipping it for sale in a remote country would bring you another extra 10k$.... that is what i am doing with mine this summer!

In order to put an estimate now for the price of your car we need pics and details... meanwhile, I would start in the 60k$ , and check feedbacks...

 

Thanks everyone for your replies. I'm really not in a hurry to sell the car, but am so busy these days I hardly have time to drive it anymore.
The car was purchased new from Ferrari of San Francisco by someone who put 17K miles on it. He had all the servicing done there at the dealership. When his 430 order came in, he returned the 360. Meanwhile, I had been searching for the better part of a year for a 2000 or newer Red/Tan 6-speed. I was pretty selective; it also had to have shields, red calipers, etc. A few of my buddies were also looking for a similar car, but passed over this one because it had a few issues. One of the airbox covers was dented, the engine hatch didn't line up properly when closed, where was a big gouge in the passenger side interior door handle, an even bigger gouge in the side of the center console, and there was a noticable scuff in the leather of the glove compartment door. The dealer offered to do the belts, variators, clutch, etc., basically get the car up to snuff mechanically if I made the purchase, and so the deal was made.
I bought the car for ~$125K and immediately began resolving the remaining issues. I got new airbox covers, had the glove box redone with new leather from Franzini Brothers, replaced the door handle myself, and sent the center console out to Premier in L.A. who did an amazing job.
Over the past four years or so, I have driven the car a lot, mostly with my local car club.
Whenever the smallest issue would come up, I don't care if it was a rock chip, I would resolve it or have it resolved. The car just had to be perfect. The belts were changed at the required time, all the services were done of course. I didn't like the way the rain gutters in the engine compartment always looked faded (just like any other 360), so I had those as well as the airbox covers power coated. I even re-power coated the challenge grill becuase it had faded over the years, and replaced the stock front grills with the challenge grills. I have had the front bumper resprayed a couple of times, the first time because I scraped it underneath, the second time just to have a perfect looking front end.
The last time it was in the shop (a couple of months ago), I had the clutch replaced, a leaky air conditioner hose, and resolved a problem with the shifting linkage.
Among 360's, this particular car is amazing, let alone one with over 60K miles. I have a buffer and do my own detailing, etc.

 

everyone say they would rather have a hi mile car but when they hit the market, these cars sit FOREVER!

50k + miles and most seem to think its about at the end of it life. i find this to be very od because most of these car have been maintain better than average and most people use synthetic oil...

 

this car has been for sell for many months ...and it has low miles. So how long would it take to sell a hi mile car?