Ferrari value

Briefly, it often has to do with the fact the Ferrari is often the fourth or fifth car in a person's garage in the US.

 

When you've got several caravans and then a Dino, it's a no brainier what to drive!!(an old Bavarian mobile) hehe, Otter

 

I don't think he's asking why they HAVE low miles, but rather why a 20 year old car with 30k on it is so frowned upon and less valued.


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People want their Ferraris to look as "perfect" as possible, and putting miles on them inevitably causes visible wear and tear.

There is also some form of mystique, a figurative smoke that gets in their eyes ...

 

Agree w above.. I think there is also an "I'm afraid of the car breaking because its going to be sooo expensive so I don't drive it" and a "I'm going to sell it in a couple of years so I don't want to put miles on it" element.

Europeans seem to drive their cars and drive them harder than Americans. This seems to hold true from porsches to ferraris. Perhaps due to driver training with European, ESP. German, driver training being more robust. Here it seems people can barely keep their Prius between the lines on the road. Call me pessimistic in this regard, but I wouldn't be surprised if this is partially explains the difference. Different driver culture.

 

Amen brother on the difference with European and US drivers. I believe drivers in the US. biggest hazard is not paying attention.



Ago

 

...you seem to have no understanding of the basic difference between Eurpoean F owners and American ones.

Being Italina and having lived with Italians, I see a huge difference. Most Italians (and other Eurpoeans) love cars, love the high perforance cars, and especially love those made in their own country. Most Americans really don't have that same level of car passion.

Yet, most of those Italians I knew would never consider buying a Ferrari, even though they had enough money to do so...if they scrimped. When asked why they woud say things like 'the tax man would scrutinize me' or 'it is too ostenatious' or 'my friends would think I was putting on airs.' They might also say that the taxes were outrageous and that the cars use too much espensive gas. Anyweay, the typical Italian loves Ferraris, but wouldn't consider owning one.

The typiocal American doesn't care, but the American that likes Ferraris and has the $ to buy one, will buy one if he wants to. He doesn't care about whaty people will think or say. He pleases himself.

So, in the end the typical European owner is a very rich person who hangs out with other rich peolple and doesn't care much about what anyone else thinks or says about him. The typical American owner is a upper middle class guy who reaches to buy the car he loves.

So, how does this affect how the cars are used? The Euro owner buys the car new - drives it - doesn't stress over it - uses it up - and then buys another new one. He is rich - and the cost of such ownership doesn't matter to him. The American on the other hand sacrificed to buy the car (probably used - with some depreciation in the price) and wants it to last forever and be nice forever - because he can't afford to throw it away and buy a new one. So, he doesn't want to put a lot of miles on it. He can't afford the depriciation it brings, or the servicng costs.

Other thoughts - this is part of the reason used F cars (and other exotics) are cheap in Europe. Rich people only want new ones and the guys who should be buyng the used ones are not. And, the used ones have been used up - not pampered. On the othre hand, the used Ferrari in America is nice, low miles, and a lot of guys want to buy it, and have enough $ to do so.

And - like it or not - cars get used up with miles. If you rive your F 10K miles a year, it will be used up in a lot fewer years than ir you drive it 2K miles a year. This is a reality people here refuse to understand. They all have cars with 30K miles or less and think that their car will last forever. But, get to 100K miles and the car will get used up. If it takes youu 50 years to get there, your purchase price investment is amortized over 50 yerars. not bad. If you get to 100K in 10 years, then you will need to make another huge investment to keep going for then next 10 years.

And - I don';t see any of these newer cars being restored in the forseeable future. So, when they are used up - they will be trash.

 

Your car has high miles on it. My 1959 has less miles on it.

 

This thread has some interesting rants (esp PFSEX). I'm not sure how much alcohol was involved with that one!

The Euro owners probably have more money to begin with, since they mostly live in socialist 'utopias' with confiscatory taxes. They use them because of what it is..... A CAR! A car to be enjoyed...... driving.

The Americans are afraid of depreciation, the car breaking, perfection, blah, blah, blah. There also seems to be some badge of honor at 'coffee', when they proclaim some absurdly low miles. I generally just smile and realize that they are really missing the point.

I've had a 308, TR, 348, F40, Mondial t, and a CS, and driven them all over the country, tracked them, hill climbed them, and taken them to the shops and on vacation. I service and detail them, and contrary to popular belief, they WILL work reliably, AND hold their value.

Milage alone doesn't necessarily 'use up' a car. Lack of care WILL.

 

I waited 30 years before I got my 308. I use it as my daily driver when I am home. I bought it with 63k miles and its past 70k right now. Not a lot of miles in the three years I have had it, BUT it is driven regularly and I would LOVE to drive it more. Actually, if you read my posts I encourage everyone to drive their Ferrari's on FRIDAY, thus my FERRARI FRIDAY posts from time to time.




PDG

 

Well, as for myself, I simply do not fully agree with the former assumptions.

It could be true that F-cars are usually driven more in Europe, but believe me there ARE indeed also low-miles F-Cars to be bought over here, only they will cost slightly more: right or wrong, there is still a premium for low mileage cars.

As an example, in France, where I live, I have driven at least two very low miles 328 during the last six months (one in June, one in November) this year at the request of friends that were potential buyers, and asked me to do so.
One was a '89 GTB with exactly 14.000 kms on the odometer (more or less 8.000 miles), the other a '89 GTS with exactly 9.600 kms on the odometer, that is 6.000 miles (the funny thing is that both were yellow over black leather and carpets).
I bought my own 328 GTS two years ago with 19.300 kms on the odometer, that is about 12.000 miles.

What is true is that the modern generation F-cars tend to be driven more, as they are easier to be driven in the traffic, with power assisted steering; it is true for instance for F355 versus 328: most F355, even if on average ten years younger than a 328, usually have been driven more.
But you would nevertheless still be able to find classic, or modern F-cars with very low mileage; of course you must be prepared to wait a bit, and also be ready to draw your wallet without hesitating, as they do command some premium, and tend to find a buyer quickly.

The psychological barrier here for most cars also exists; it is 100.000 kms, which is more or less 60.000 miles; it is much more difficult to sell any car, and especially a Ferrari, approaching that mileage.

I do not think things are so different between the United States and Europe; from what I see on this forum, a lot of american owners are driving a lot also.

Regards,

 

Nerofer, I agree with you about the above posts. Why would anyone want a car that just sits in the garage? How owners can justify not driving these cars is beyond me. So what if it breaks, just fix it and move on down the road. After all, cars do break and need repairs, even when just sitting collecting, God for bid, dust. I also wish that I had room for five or more cars…………even a mini van.


Nerofer have a great Christmas Holiday and a safe New Year.

 

I think most people here(US) don't drive them and have it more as a status thing almost like a piece of art. If you drive very little you will have less maintenance costs which might be in the back of peoples minds? Resale is another thing as lower mile cars sell for more. IMO a lower mile car will have less wear and tear so if you decide to buy one later and start putting miles on it you are better off as you may have to replace a few rubber items but other than that the car is like new. I'd buy a low mile car over a medium to high any day. Ask any collector what they would prefer and a car as close as the way it was originally sold, will win every time and fetch the highest dollar. Race heritage cars excluded.

 

Well I must be in the minority, since I drive my thirty-six year old car any chance I get. Funny, but the value of my car seems to be going up? Are any owners of newer cars experiencing that?

 

Thanks, Greg, I'll do my best; after a very cold weather last week, the weather has turned to almost spring time here, so this is good for driving: top off for the GTS guys is easily possible now, when it does not rain.
And actually, about your other post, I think that for thirty-and-more years old cars, mileage is becoming largely irrelevant: it is condition that counts most. Plus, you have a rare car...very few of these are left unmolested. Take good care of that little "pocket rocket" of yours, and have a nice X-mas and new year.

Rgds,

 

Pretty hard for it not to increase in value? If the car was low mile and pristine it would probably have appreciated more. To each his own as it's YOUR car.

 

What an arrogant condescending post.

 

Great observation my friend. From what I have observed from my peers in the Continental U.S.and here in P.R.; they think that the cars are investments to "flip" at a profit. Sad but true.........

 

Please. On a 20-25 year old car condition means more than miles.. You're telling me tht a 308 in 30k miles versus a car with 40k miles is going to be sooo much more "valuable". I see a $3-5k difference if that. With modern cars I've heard just as many 2k mile garage queens with check engine lights as 20k mile cars....

 

They said many of the same things about your red car back in the day didn't they...

 

I'd say this sums it up pretty good. Not to mention the fact that I works so much I had much time to drive my car lately, and then there's that bad weather thing here in the northeast.

 

Not much of a mileage gap in that example. Low mileage, original and pristine cars will always seek a premium. If a car is super rare than mileage is not as much a factor. If someone decides to buy a low mile car you just get it sorted out and typically it's not a big deal.