16M for $229k!?!? | FerrariChat

16M for $229k!?!?

Discussion in '360/430' started by stokpro, Dec 31, 2010.

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  1. stokpro

    stokpro F1 Rookie
    Lifetime Rossa Owner

    Jun 25, 2003
    4,383
    Himalayas
    #1 stokpro, Dec 31, 2010
    Last edited by a moderator: Sep 7, 2017
  2. Nico

    Nico Karting

    Jan 16, 2005
    148
    Socal
    Unless there is some kind of damage, that's gotta be a mistake.
     
  3. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
    Full Name:
    Steve
    Agree there has to be a story to go along with the price or the add is in error......Steve
     
  4. F430addict

    F430addict F1 Rookie

    Sep 17, 2010
    4,460
    Oh my...16M....droolz.

    How bad can it be? What sort of serious repercussions are we talking about, say body damage and repaired post accident?
     
  5. rgm35

    rgm35 Karting
    Silver Subscribed

    Feb 25, 2010
    231
    Valley Forge, Naples
    Full Name:
    Rick
    New to this thread guys but my questions is:

    Vehicle has approx 4,500 miles on it. How much does that hurt the vehicle's value especially if many of them were on the track??
     
  6. scott40

    scott40 Formula Junior

    Apr 4, 2006
    923
    Ohio
    Full Name:
    Scott
    Wow! That is a good price for a 16M! James, you out there????
     
  7. Juri

    Juri Formula Junior
    BANNED

    Mar 15, 2010
    604
    Houston, TX
    Full Name:
    Juri
    WOW, what is going on with prices !? What is the true history of this car? Salvage title?
     
  8. raider1968

    raider1968 F1 Rookie
    Owner

    Mar 13, 2008
    4,966
    NC Mnts & Asheville
    Full Name:
    John E
    I really doubt FLI would sell a car with a serious history - they would wholesale it out - must be a mistake or prices are really dropping
     
  9. jj525

    jj525 Karting

    Feb 8, 2009
    184
    Virginia, Florida
    Haven't seen a 16M with that many miles, no it's not too many just a lot more than the other cars for sale so the price has to reflect it.
     
  10. arizonaitalian

    arizonaitalian F1 World Champ
    Owner Silver Subscribed

    Oct 29, 2010
    19,896
    Wyoming
    Of course prices are coming down. Its a car, a depreciating asset. That said, other sports cars/exotics have worse depreciation than Ferrari's.

    I'm getting my first Ferrari this month (PPI is pending) and I'm paying around 60% of original sticker at age 7 (13k miles). For reference my last puchase was a Maser GS Spider bought last fall at age 3.5 for 50% of sticker (7k miles). Before that it was a Porsche C4S at age 2 for 70% of sticker (17k miles). That Porsche sold at retail last year at age 6 for 41% of sticker (30k miles).

    And we could go on and on...one last one, I was recently looking for 12 cylinder GT. The 575 I wanted was $95k at age 8 down from $215k (44%). The other car I looked at was an AM Vanquish S at age 7 at $80k down from $220 (36%).

    Recaping values from my limited experience:

    Porsche = 41% at age 6
    Aston Martin = 36% at age 7
    Maserati = 50% at age 3.5 (would be more like 42% at age 4.5 today, image what at age 7!)
    My pending CS purchase = 60% at age 7
    My passed on 575 purchase = 44% at age 8 (fasted depreciating F-car of recent origin, still a fair bit better than Maser, Posche, Aston)

    Of course, this could also be telling me I'm over-paying for the CS though! ;-)
     
  11. arizonaitalian

    arizonaitalian F1 World Champ
    Owner Silver Subscribed

    Oct 29, 2010
    19,896
    Wyoming
    StockPro, I would love to ask you about the CS I'm buying...PM sent. If you have a moment, please reply!

    Thanks!
     
  12. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
    11,285
    Colorado
    Full Name:
    Dave
    It has over 1000 miles! Sell it to Rutlands for parting out.

    Dave
     
  13. Juri

    Juri Formula Junior
    BANNED

    Mar 15, 2010
    604
    Houston, TX
    Full Name:
    Juri
    I amy be wrong, but y IMO, your price/depreciation analysis is a bit conservative... in the current economy, proces have dropped more considerably, especially for cars over 20K miles... :)
     
  14. arizonaitalian

    arizonaitalian F1 World Champ
    Owner Silver Subscribed

    Oct 29, 2010
    19,896
    Wyoming
    I'm cetain those percentages are not any indicator of current or future prices (relative to original sticker). They are simply historical facts based on my sales/buys. They will not give anyone any indication of what to pay in the future! Heck, I'm paying 60% at age 7 which is way over the handful of data points I posted above. But that doesn't mean a regular 430 or 360 or 550 or 575 (and maybe even scuds, 16m, CS, etc) couldn't be had for less...

    Just data...when it comes to predicting the future, I'm strongly in-line with Yogi Berra "prediction is hard, especially about the future"
     
  15. Sellnit

    Sellnit Formula Junior

    Mar 22, 2010
    975
    Cincinnati
    Full Name:
    James
    OMG, I am drooling....Scott and Stokpro, remember our $225 for a 16m conversations? Thought it would happen with the 458 Spider intro, we may see $200k for a 16m this year!!! I thought I was in at $225.......maybe $210-200 now? I like the color combo on this one too, and am supposed to be in NYC at the end of the month!
     
  16. Fiorano57

    Fiorano57 Formula 3
    BANNED

    Dec 23, 2010
    1,689

    Price listing error of course........Was just told real asking price is 309K..
     
  17. TheMayor

    TheMayor Nine Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    98,533
    Vegas baby
    Well, they were only off by one digit. :)
     
  18. Buxton

    Buxton Formula Junior

    Oct 31, 2010
    484
    Full Name:
    B Buxton
    Yes the high miles really hurt the value :)
     
  19. mousecatcher

    mousecatcher Formula 3

    Dec 18, 2007
    2,116
    san mateo, ca
    Depreciation from MSRP is interesting, but not as interesting as depreciation from actual purchase cost in year 1.
     
  20. scott40

    scott40 Formula Junior

    Apr 4, 2006
    923
    Ohio
    Full Name:
    Scott
    It may be a typo, but wait until later this year and it could happen. I believe there was a white 16M on ebay recently in the 240 range.
     
  21. -EZtrader-

    -EZtrader- Formula Junior

    Mar 16, 2009
    293
    #21 -EZtrader-, Jan 2, 2011
    Last edited: Jan 2, 2011
    Anyone who pays 300k for a 16m is crazy. The new spider comes out soon, and normal scud prices have been bashed so hard, one can only assume this is the next shoe to drop. IMO 225-250 seems about right for this car.
     
  22. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
    Full Name:
    Steve
    2009 16Ms on AutoTrader Right Now. I am not saying what is right or wrong, just the facts....Steve

    Price Miles
    $349 595
    $329 1177
    $319 130
    $309 843
    $305 668
    $305 330
    $300 3900
    $300 1697
    $299 2020
    $298 1190
    $290 1830
    $280 3123
    $280 4593
    $229 4576
     
  23. m.roberts

    m.roberts Formula Junior

    Nov 2, 2009
    907
    USA
    IMO all these guys are dreaming and are wayyy upside down. There is no reason for a 16m to be even close to these numbers. The people that
    Wanted them new REALLY wanted them... The 458 is going to cause prices to drop even more... That's what happens when the new toy comes out.
     
  24. Ingpr

    Ingpr F1 Rookie

    Jun 30, 2009
    2,619
    PR
    Full Name:
    David
    1+
     
  25. arizonaitalian

    arizonaitalian F1 World Champ
    Owner Silver Subscribed

    Oct 29, 2010
    19,896
    Wyoming

    That's a great point...I haven't followed Ferrari values/costs/sticker historically...I've only been looking for a couple of months.

    How did the first purchase work on these cars in the 00's?

    Were they all over sticker price, or was that the "second sale" (meaning did the guys in line with the dealer have to pay the dealer over sticker to get the car when it did get ordered and arrive?)

    What did CS's and Scuds go for in the "quick secondary market" shortly after they arrived?

    Curious...

    Is there a reference source/database for sticker prices and sale prices someplace?

    Thanks!
     

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