Jim, your knowledge FAR FAR exceeds mine I am sure. I had just gotten lost in the middle of reading that post. I thought I had something to add or a different view to offer. My apologies.
Not at all. Your post was interesting and you weren't the only one who didn't read down to the bottom of post 20. Your point about there being a difference between cars is also true but as a lot of information can be sucked out of Ferrari ecu's with an SD 3 during a ppi and it's possible to assess the condition and prior use including over revving, max speed driven, clutch use, any over heating, brake wear, etc, etc. Color/options all matter but as you've shown you can buy an 06 Spyder today for 121K with 6K miles and that's informative. Best
I guess another MAJOR factor is simply what the buyer is looking for. Every car out there has its perfect match to what a future owner is looking for. Some may just take a bit longer to find their owner than others.
And object is only worth what somebody willing pay for it. BUT, asking prices are based on the original MSRP. Now that the economy has taken a dump, the general public who are in the market for a high dollar sports car, are only going to pay a certain amount for it. These buyers know many people bought these cars new, and couldn't really afford it in the first place, so these cars are now on the market selling for what the remainder of the loan is worth. The current owner just wants out of the monthly payments and doesn't care about making any kind of profit. The selling prices of these cars right now is a direct relfection on the state of the economy. I remember when the 360 spyider hit the market, the prices people were paying for these cars 4 year later was insane. The 430 has sunk faster in value then the 360 over the same period of time. And its not because its a crappy car.
In the end... you get 1) what you pay for or 2) what you want or 3) you get a steal. It's no different in buying an exotic than buying real estate. Sometimes you can find a steal and take advantage of it. Sometimes you shop for months looking for just the right car (or home). Exotics are NOT commodities to most owners. To some, yes -- just having any car of any color or condition at the best price is good enough. But, I've found that most want what they want and will wait or pay more for what they want within their budget. How else do you explain new car sales? Isn't this the ultimate expression of wanting what you want and paying for it? If it were just the price, there would be no more new car sales.
Always the same, isn't it. If you post the realities of the market, you get bashed. If you drink the Kool-Aid and happily claim "F430s are worth X over reality", everyone sends you flowers at Easter and candy corn for Christmas. <sigh>
There is a 07' 430 Spider on Ebay for 155k no reserve http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=170465865743&ssPageName=ADME:L:LCA:MOTORS:1123
Assuming that car goes for $155K, IMHO it is not a good indicator of the market for 430 Spiders. The interior is an unappealing multi-color interior, it has 15K miles, and it does not have a carbon fiber rear, no challenge wheels, no carbon fiber in the engine compartment, etc. So basically it is a high mileage, unappealing interior, poorly optioned car. You can't really glean much from a sale of a car like this as to the pricing of a low mileage (under 10K) well appointed Spider. It doesn't really tell you where the market is unless you are in the market for "any" 430 Spider.
Just saw post 47 about the 131k selling price, that is ALL the money, and then some, for an '05 F1. It's officially spring, I think a few months ago that car would have struggled to make 115 or 120k.
yes, spring market is here. As per post 47, 131K was retail for an 05 red/tan F1 coupe not too long ago, but that # is wholesale right now. The market has picked up a bit...there were ~90 430s on Ebay in Jan, and around ~70 now. Of course, long term Napolis is right. BTW, I just wrapped up purchase of a 2007 red/tan 430 F1 coupe with CCB.
Interesting that this nice '06 red/tan 6-speed only brought 112k maximum bids, 7 day auction with a lot of views so seems pretty indicative of what the market will pay. http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=220577666817&viewitem=&sspagename=STRK%3AMEWAX%3AIT Doesn't seem to have outstanding issues, and autocheck rating is good. Makes me wonder about the validity of purported 130k selling prices for '05 and '06 6-speeds lately....
I helped make that number drop by one also with an 07 red/tan spider! Will have pics soon... It's currently somewhere in Indiana right now in a truck!
For the two gentlemen that recently purchased their cars would you say that the price you paid is in line with this thread or was the cost of transaction substantially higher the ballpark figures thrown around this thread?
Yeah these guys over price their rides... but in NoVA it seems there's always someone to pick it up, I guess they try to capitalize on the first and second wealthiest counties in the country. He has it listed at 168K in Dupont registry!
Must be that the dealer bought high and is now stuck. I suppose he can try to wait to see if market comes back to allow that kind of price but it seems unlikely.
new ownership of this dealership, and they dont have clue...just trying to get their investment money back in a hurry...
