CS Market

Michael: everyone's free to disagree, just sharing my firsthand experience for the benefit of the community.

 

As am I Mr. Wright, as am I.

Hey... Why dont you post the PPI results of the four CS's you did the PPI on within the last six months so the potential buyers of those cars can benefit (or direct us to a thread where you already did so). That would be invaluable my friend.

 

Michael: I am not at all opposed to sharing what I have learned about individual cars through PPI's, as I agree that this information would be valuable. Here are the serial numbers of the cars I had inspected with a brief summary of the findings:

134226: asking price 128,000. serious, widespread paint issues
137068: asking price 129,000. paintwork on rear quarter panel, both front wheels curb rashed
137372: asking price 128,000. clean car, which is why i just bought it.
139177: asking price 139,000. clean car, no significant issues identified.

If an FChat member is considering purchasing one of these cars and wants a copy of the PPI results, please shoot me a PM and I would be happy to forward the information to you.

 

THAT is excellent. Bravo.

 

Nice stuff helping out fellow Fchatters.
Props to you.



I also don't think the 105k car was a benchmark of any kind.

I do feel the numbers above are about correct. 120-140k is the market I think on these cars. Except mine it's worth at least 240k.










































to me

 

Calm down stokpro.

All I am doing is bringing information to the table. Don't shoot the messenger.

In my last few weeks browsing I have found several cars buy-able in the range I noted. Their ask price may have been more, but rarely stuck to obviously.

The few that were mentioned above - and now the Turnpike car you personally point out all were at the range I spoke of sell price. It does not get much clearer.

Lets take the three cars you note sold last week and toss in #134226 just for good measure at $120k sell-able figure and the Turnpike car you mention at $119k. Assuming their selling prices I total up an average of $119,000. Right in my quoted range.

It seems to me that the reality of the $105 Seattle car bothers you gents a lot more than it bothers me.

I wanted that Seattle car but could not move a car of mine fast enuf to make it happen. I now am trying to buy another but am having a devil of a time getting the owner to take the time to complete the process. However its not a panic to me - as we move into a slower sales season and questionable economy I only see these prices softening. Just dont get pissed off at me about it when that happens.

I am doing the best I can to join the ranks of the CS owners. Your help has been appreciated.

 

Stradale are in the $130k-$150k for good examples depending on miles.

There is a nice collection of cars with history and many owners, these cars don't set the average market price, they set the low end.

$140k buy a nice Stradale. $100k buy a bad Stradale, and very likely the bills to fix the car will surpass the price of a good Stradale.

 

+1

This is true of most cars and definitely true of Ferraris.

 

Then do it. Pick out your car and buy it. Buy on the car, not on the price!

There will always be a better deal around the corner. Ever minute you spend wanting a CS instead of driving one is time lost.

Trust me..... I was where you are not to long ago.

 

I am trying.

Was on the phone with a delightful seller/collector just today. Seriously, I am trying. I wont let a few dollars one way or the other bum the deal. This car will be a keeper so exit strategy is not a factor. I just want to enter with grace. Thank you again.

 

Well said!

 

Smart man and good for you. I have a 360 Spider but a CS would be a good 2nd car (or maybe a 550/575) but not ready to buy another car yet.

 

The central purpose of this thread is for us to put our heads together to shed some light on the question: "What is a CS worth in today's market?". After diligently following the market for the last six months, making numerous inquiries and inspections, and having several deals fall through in my search for the right CS, I think that sharing a summary of my experiences may lend some insight into this question.

The most important lesson I have learned is that the CS is simply not a commodity. If we were trying to determine the market price for gold, silver, corn, or any other commoditized good we could easily pin down to the cent what one could expect to pay for the good in question. It goes without saying however, that a limited production, maintenance intensive, eight year old Ferrari is about as far from any of these examples as one can get.

Acknowledging this fact has several consequences for those trying to determine what a CS is worth:

1. The devil is in the details: cars wear with time, and they can wear quickly when driven hard and not maintained properly. This point is particularly relevant to the CS, which is an extremely special, raw vehicle targeted towards a narrow audience of enthusiasts who are more likely to drive their cars in a spirited manner. This fact, coupled with the costly reality of Ferrari maintenance makes it such that the condition of CS' in the market can vary broadly. A poorly maintained, eight year old Ferrari that has been driven hard is easy to spot, typically by the substantially lower asking price. To put it into a single phrase: all CS' may have been created equal, but they are far from equal in today's second hand (or third, fourth, fifth hand) market.

2. Different buyers are looking for different things in a CS. Throughout the last couple of months, I have had the pleasure of speaking with numerous CS owners who have had different perspectives on purchasing and owning a CS. Some were thrilled to have spent an extra 20 or 30k to purchase a low-mileage CS creampuff to complete their collections, while others were equally happy to have paid less for a higher mileage car with some dings and chips that would provide them with a stress-free driving and ownership experience. Others are happy to have been able to simply afford any CS and join the lucky few who are able to own and enjoy such a fantastic machine.

3. Lastly, there are few cars for sale and those fortunate enough to own/sell a CS are often not in a position where they are forced to sell their cars in a short time frame. As a result of this, owners may list their car and sit it out for as long as it takes to attract the right buyer at the right price. We have seen some cars sit on the market for a year or more, this is rare for a used car. The limited numbers also have an impact on market value: if the handful of CS owners currently listing for sale decided that no one would accept below 130k for their cars, then the value of the CS is suddenly more than 130k because anyone interested in owning one would have to pay whatever price is demanded by the few sellers.

At the end of the day, figuring out what a CS is worth is much more like trying to price a rare painting for auction than it is pinpointing the resale value of a mass produced used car. As is the case in the art world, rare art is worth whatever a collector is willing to pay for the piece. The few buyers out there with an interest in a given piece ARE the market, and this is certainly the case with the CS: a very special, low production Ferrari made for one year which appeals to a very limited group of enthusiasts. The CS is worth whatever the few buyers in the market are willing to pay for a car. Just looking at the last month alone, that may be anywhere from 105k (133311) to 155k (137767), largely depending on the condition of a given car.

If I have learned anything from my experience, it is that a CS is worth many different things to different people. Buying a CS is just as much about finding the right seller for a given buyer, as it is about finding the right car.

 

This Thread has no room for a voice of reason........Please leave













Less are leaving the Country and far less are for sale than just a year ago. Almost 1/2 the amount actually. This alone will hold their values higher. I'm still shocked at the average price for the 21 cars that are for sale today.

 

Damn, I'm having so much fun reading this banter that I might have to buy another Stradale just to get back in the game!!!!

Hmmm, wonder when Stokpro is going to present me with a one-off that is too irresistable to pass on?!?!?!?!?

 

Well said H2oskier!

My feelings on the CS are very much like I felt about the F40. Having lived with both, the CS is the only modern Ferrari that approaches the visceral Ferrari experience in the same way.

We can all see the almost cult status the car is gaining as time goes on. I firmly believe that the CS will be seen as a very special car, down the road. Judging by the number that are meeting an untimely end (as witnessed by the wrecks for sale), this will lead to fewer and fewer good to great cars, and will eventually effect values.

 

Michael-

I would like to respectfully say - don't assume selling prices based on asking prices. Unless you have actual transaction data, asking prices are the only hard data (and even those are somewhat useless unless you know the full story behind each and every car).

I wish you the best on your search - you won't regret owning one.

 

When it came time to sell my stradale, Stokpro already knew the history on my car and I was happy to share all other details.

 

I'm with the other 350 other CS owners in the US and I as well know that he know's more about my CS than I do.



Don't fool yourselve's guys. He know's 10 times more than you think he does.


He also got all the information from me when I bought mine a few years ago. Including how many times the doors had been opened and closed.

 

he also has all the information on the cars that I looked at, including the PPI documents. more info added to stokpro's already large repository of CS minutiae.