Prices on the rise big time

Same with me!!!

 

😄😄😄😄😄😄😄😄😄

 

Enjoy that beautiful F1 SPIDER!

 

I drove the wheels of my 993 4S. My 2000 996 has 18K miles on it.

It is a true $81K sticker car that books for under $20K.

My cousin in Florida is looking for a 996 Cab six speed.

He owned a 993 before he got married, and has wanted a Porsche again ever since.
I convinced him to forget about 996s and buy a 993 like his old one, or at least a 997 if he wants a newer car. I hope he buys before his kids won't fit in the penalty box, oh I mean the back seats.

 

Well Dave on that particular car and sale you are wrong. If it had not been an F1 I would have bought it almost two years ago. I saw the car, drove the car and didn't buy it but bought a stick three weeks later for more money.

The cars had identical mileage, 97 vs 98 , majors a year before, three owner cars, same color scheme.

That is a data point on that topic.

 

Bob, I was busting balls about it being a spider.

Yes, your data point (as in the reason you did not buy the car) is valid.

It still makes no sense that car sat so long, considering the $60k ask.

I suspect it had more to do with the level of spider inventory which is always greater ( by 2-4 times) than GTB's or GTS's

 

Yes, about the same time I bought mine with a fresh major, (had to wait for the major to be completed) for under $60k. Prices have inched up, but current $70+ asks for a red 355 in any form aren't flying off the lot. There are cars that go for bigger bucks, but those are the exceptions.

Dave, put you car on the market for $75k and see what happens.

Here is a beautiful twin to my car, two years newer, and it's been for sale all summer at $72.5k.
1997 Ferrari 355 |

Why hasn't this '98 GTS 6 speed sold at $65.5k?
1998 Ferrari F355 GTS, $65,000 - Cars.com

Or this 13k miles '98 6 speed GTB at $69.9?
1998 Ferrari F355 , $69,900 - Cars.com

There is a reason why and it's call the 360. The 355 is in a tough spot. Good 308 and 328 are selling for more and the 360 is still coming down. What the 355 has going for it is styling and that will pay off in the long run and is today somewhat, with collector quality cars. But for cars to be driven it's hard to fight against 360 price trends which are falling off a cliff. For a guy who want's to get into a Ferrari, any Ferrari, and has $70k the 360 is sitting pretty. There will always be exceptions. There will always be the guy who just has to have that car. But that's not market value.

 

I also think prices are rising, but not rising "big time".

We may be in a bubble, or we may not. These cars are highly desirable, God isn't making any more, and the economy is still one huge question mark. Three factors that contribute to a stable rise in prices.

Prices aren't necessarily bound to go down again, or the bubble is about to burst. As time goes by, these cars become rarer and even more desirable. When people say a 355 isn't an investment, I tend to agree. But if you are in this for the long run as I am, consider this: When a Daytona was 15 years old or if you bought a 10 year old 308, I'm pretty sure nobody cared if it was an investment or not, nor they bought one with this in mind. If you kept it and looked after it, now look at it!

I see a steady increase in value. Perfectly sustainable and logic. If you told me ALL Ferraris were on the up by 10 or 20% a year, then I'd say we had ourselves a bubble. Not the case. An increase in value slightly above inflation is healthy and sustainable.

And we do people panic when our Ferraris are worth more one semester after the other?!

It's a good, expectable thing!

Kind regards,

Nuno.

 

Well any one who says they cant find a gtb/gts is sure not looking very hard John. That Barchetta/Cuoio car at Blackhorse with 13K miles sure looks nice.

 

Well stated. Especially when they made over 11000 F355's.

 

Yes. Very nice. But not selling at $70k. Every time I hear GTB and GTS aren't around I look at Cars.com and there they are. Not as many as spiders, but there are always a few around. What I think is an issue is that some people are not willing to look too far from home. You can not buy that way. You might get lucky, but probably won't get the best deal. When I bought my car I looked at cars north of NYC, on Long Island, in Ohio, in Florida and in California. All were the exact car I wanted, a 95 in Swaters Blue with under 20k miles. I ended up with the California car. Had everything I wanted, Tubi, challenge grill, carbon fiber door sills, all stickies fixed, and a fresh major with valves and guides, and I was able to negotiate the best deal. I spent the time to checkout the dealer and the shop which was servicing the car. I was a lot of work over 3 years but it paid off. You need to have patience and self control. If you want a Ferrari tomorrow, any Ferrari, you will likely pay too much for the wrong car.

 

And only 7,000,000,000 people on the planet.

 

I looked nation wide to find my spider, and ended up buying Joe's in NJ. That's pretty far from the heartland in Oklahoma. Just had to do some research, get a PPI done at a competent place and then arrange transportation. The car traveled 1400 miles before I ever laid eyes on it first hand

 

John, Bob,

These are what, maybe 5-6 GTB's or GTS's on the market compared to 25 spiders?

 

Hey........easy....my kids love the penalty box...er....back seats of my 997 cab!!!

 

I agree John, but why are there still a fair amount of F355's for sale then? All of those cars would be sold or wouldn't be sitting on the market for long periods of time if they were in that high demand. It isn't like it is a 288 GTO or F40. The Ford GT market still surprises me. They built around 4000 cars, which is significantly less than the 355 but significantly more than the aforementioned cars yet never suffered the typical depreciation which I was hoping for. If they had, one would be sitting in my garage right now.

 

I think the guys that bought them 5 years ago for say 55k ish are picking up the 15k - 20k and moving to something else.
I know that I sold my 1995 spyder that was in pristine condition about 5 yrs ago for, if I recall 56k........today it would be worth that + 20k I bet in the condition it was in.

 

That wasnt the point of the post Dave. That low mile. gated unicorn, GTS is sitting there at an ask of $70K.

If someone wants a low mile GTS that is unique, there it is.

That took all of 5 minutes to find.

 

That's right because we all know that when searching for cars, we purchase the very first one we find since we all have the exact same taste


I sure hope I have 1 to chose from the next time I'm on the hunt

 

Yes, sure. But they are always there and if they are so hard to come across why aren't these examples selling?

That's my point, they aren't selling because, let's face it, there isn't the demand, regardless of price or model. They aren't like American muscle cars. There are even 3 Enzo for sale on Cars.com! Why aren't they selling? Guaranteed to increase in value, right? Of those who can afford them there are few that are interested.

 

Huh? I have no idea what you're talking about.

The point is Dave, they are not rare, unheard of, unavailable, etc.

John posted two and I haven't even looked myself.

 

It was this post that I was replying too. I was saying that they weren't rare and you posted how many people were on the planet in relation to how many cars that were made.

 

Missing the point Dave. It may take you a while (or did take a while) but there are GTB and GTS out there all the time. The selection changes. Maybe not the right color or trans at any moment, but they are there. Like I said, I had 5 Swaters Blu 95 spiders to consider...over 3 years before I found the right one. A Swater Blu/tan 95 spider with challenge grill and Tubi is probably as rare as a black/tan GTS F1. You can either wait and find the car you want or, if you want a car tomorrow, you buy what is for sale at the moment. No different than buying a new car. Wait until they can find exactly what you want, or buy off the lot. Some people settle, other don't.

 

Cars.com has 4 GTS's listed - not one under 22K miles

Autotrader has 2 (that is not already listed on car.com), not under 22K miles

DuPont Registry seems to be down.

Switchcars has 1, 24.5K miles

So where are these sub 20K mile cars that are not rare?

 

Where did sub 20K miles come into the equation as the yes/no line? Obviously there will be fewer lower mileage cars.

You can add any criteria you want in order to decrease availability obviously. Might as well make it sub 8K for that matter and eliminate any possibility.

The Blackhorse one looks like a beautiful example of one and has 13K miles that can probably be had for under 70K.

The original point was that there are 355s available that some have said are not around. Of course no car will meet every tick mark you require. You aren't custom ordering it.