Very high mile manuals and value

Mileage inevitably becomes less relevant with age. As does the LHD vs RHD. In twenty years a manual Ferrari of any miles will be desirable because it will be a forty year old, relatively low volume (in comparison to today's numbers) Ferrari; a bridge back to the golden era of Ferrari and with a happy balance of aesthetics and performance (I'm thinking 355/550).

 

I remember one or two decades ago, when Ferraris of the 60s with a mileage above km 100,000 (about 60,000 mile) were virtually non-existent. Something I found somewhat strange ....

Or with other words, there is likelihood that some cars with high milages will rejuvenate with respect to mileage at some time in the future ....

I do believe that it will become a little bit difficult to sell cars with a milage in 6-figure regions (whether miles or km). It is understandable that a 550, e.g., with about 200,000 km and still first engine, gearbox etc. will rather mean big bucks for repairs, than a 50,000 km car. A difference of maybe 30 to 50 k€ in terms of market value ...

 

There's a manual 360 on eBay right now with 90+k miles. I believe the ask is 69k, or about 40% less than a comparable car with miles in the teens. No one has jumped on it either, and my gut says it's still over priced by about 20k.

People who are scooping up the manuals want low miles. They want the best examples, in collector condition. Case in point, the recently sold 6k mile 355 GTS with the 165k asking price.

 

As of this moment current bid is $49k. I know that means nothing until money changes hands, but I'd put the high mileage cap at about $50k. Color and options etc. will affect the price respectively. This example has CS mirrors and bodywork with what.. Hamann rims?

 

I was looking in Cavallino magazine - I follow the values in the back, and was looking at the number of models made... specifically 550's ... but could not help but notice that there were 30K 360's made? wow... so to me its the model with the least appreciable value. and then if you tack on "high" mileage then it really becomes a drag on prices... I fear this will be the 308 of the next 20 years... that will languish un loved and un cared for.

 

I don't get the desire for super low miles on really old cars unless one intends to park it and look at it. The previous owner of my car let it sit and it took 14k to bring everything back up to spec. Engines are meant to be operated, otherwise things deteriorate.

 

Agree. The market's driven by rarity and perceived collectability. Collectors want pristine cars.

As discussed in the thread on Ferrari's CEO and manual gearboxes, most of the premium is based rarity, not any intention to use the cars. No one pays $650K for a 599 with three-pedal manual with the idea that it's more fun to drive. It's simply more fun to store and speculate on future values. A weekly local drive to get the engine and mechanical bits warm is probably the most these cars will ever see.

 

I know what you're saying is true, but I still don't get it.

 

Unfortunately, over-zealous collectors and greedy prospectors have practically taken over the market. It used to be enthusiasts and posers who dominated the market. No longer.

 

Well, not really, I still drive my cars and enjoy them. And do not think about mileage and an effect on market value. Time will show at the time I decide to sell, e.g. when I return my drivers license, and then things are as they are .

 

That production number (30,000) for 360s is about double what you can find reference to in several other places. Here's one:

https://www.hagerty.com/apps/valuationtools/2000-Ferrari-360

No denying the car isn't plentiful but there is a big difference between 17,000 and 30,000 copies.

 

Everything is "sell-able".

I think the documentation becomes more important as the miles go up for the presently not collectible cars.

Here is a nice continuum to consider. Both cars have 125,000 miles on them.

One owner car- fully documented service history, ordered new from factory by the guy who runs the Classiche program at Ferrari...it was his 3rd Ferrari he is selling it to buy the latest model.

Eight owner car that had been re-sold in as many states, sold three times at auction with no documented service history other than last oil change.

It's condition, condition, condition!

 

Indeed. Always a buyer, just a matter of how much coin.

 

Tom, I think half of those were 430's! lol

 

I just don't agree about the 360 never being sought after. IDK about 348's. FYI, The 360 owners manual has service intervals listed to 125K miles. I am curious if the other models have this as well.

Disclaimer:
I am 360 fanboy since I have one and it's my first sportscar and my first Ferrari! I waited until middle age to acquire one. It's curvy which is outside the norm for the era, I like this. The interior is simple enough with the basic 5 gauge cluster that can be attractive all the way through until it is vintage. It has a whole mess of different functional exterior lights in the front and to me it just looks like it is ready to handle every scenario.

You can see the engine through the glass and it is beautiful. The entire chassis and body is aluminum so that helps with lifespan and weight. The engineers made sure that it was serviceable with an access panel to the maintenance items. You take four easy to reach cap screws out on the seat rail and remove the seat then remove the access panel and sit in the carpeted interior and work on your engine!

Oh but they made so many, how could I stoop? LOL Here is a secret. SHHHH don't tell anyone. That means that there are parts available for the life of the car! I couldn't give a spit if the "never-use collectors" are interested in the cars. In a three pedal configuration and a coupe it is all sports car, all Ferrari and VERY rewarding to drive and care for.

It's fun, and use-able fun at that. It's art, and functional art from any lens. Maybe the guys who are spending more for other gated Ferrari's will see that it is a worthy pursuit. In my mind that will drive demand because if it's a gated Modena you seek, the exact one you pine for was made in a very small number, by anyone's standards.

Maybe it makes too much sense in Ferrari speak, caught someplace between the old language and the new company direction.

I hope you are all enjoying your toys...and that you are worthy of them! ;-)

 

I thougth the number was pretty high. I have a 328, so they made a ton of those as well, so when you count the GTB + GTS its about 9000 cars all in.... 308's similar number. 355's about 10-12k of all variants... so when I saw the 360 I was just WOW... that many. maybe it was a typo?

This was the latest issue of cavallino - white cover... I dont always buy the mag, unless i like the articles.

 

How long with the forming bubble last?

 

This.

Don't discount the deliberate resemblance in styling of the 360 to the Dino. While it doesn't have the buttresses, it has sir scoops in all the right places and improves on the original Dino design with the glass engine cover. It also has the side window and quarter panel window shape of the modern Ferrari's.

As such, its not a halfway car but the first of the modern era.

I think it will be sought after, even if the current middle aged buyer prefers the wedge.

 

The days of every Ferrari having the magic 43k miles on them have ended.

Look at the years vs the image now, opposed to the early cars.

 

+1
LOL... but i think the magic number is under 30k miles
Hard to find a TR ,308,328,348,355 with over 35k miles on it. Yet all the seats look like the car's have over 100k on them.

 

I drive my QV quite regularly. I am not specifically worried about resale. I figure that even at its current 84k miles that is well under 3k miles per year - not a lot of use in my opinion.

So, I am gonna drive it and enjoy every last mile.




PDG