Ferrari Market conditions Late 2016

In the UK there seems to have been little change. The prices across all Ferraris is still as high as ever.

 

Market is low, used Ferrari prices are declining except (very) rare cars holding their value.

 

asking prices same or higher, but cars not selling.

 

you should take a look at maserati GT, Aston Rapides and Bentley Continental GTs. These are the definition a of car not selling unless given away.
The MAser and Bentley seem to go as some sellers get them low enough but for whatever reason, the Rapide are not being reduced by anyone and not selling and reamin at high prices. Some for almost 1 year now. I am looking for one in the 50s, 60s with 25K miles or less, price where they should be given their competition (panamera) and nothing touches that. Strange for an ASton not to be discounted.

 

As we enter the winter months in the northern hemisphere - the auctions cycle is going down... you will have Barrett Jackson selling mid level cars - but no world breaking auctions until the spring.

The US election could cause a flight to safety - meaning rare cars - "Enzo" era cars will spike up in the next 3-6 months with 288, GTO and F-40's continuing to rise. However the Fiat Era cars will continue to slide down. Testarossas and their ilk - I think will come back to a higher normalcy... lose 20% or so. 308 - 328 market the same thing. Rare, low mile time capsule cars will command the highest prices - but they are getting pretty rare and then they fall into the collectable category.

the bad news will be in the 355 - 360, 430 market - these cars ( in my opinion) will continue to go down - and as they become more affordable - mtns issues will outpace the actual value - which will spiral the entry cost downward... much like the Dino, 308 - 328 - Mondial market over the past 15- 20 years. And the added effect that there were so many more made of those models - 360 / 430 variants... prices will be depressed for a while.

V-12 cars will I think command a larger premium over the v-8 cars ... but not too much. rarity is what will drive this market - as cars get used - the prices will do down. ( I hope so because 599 is a bucket list for me.)

458's will take the same path but it will take a while. I think you are seeing them in the $170k area now - I expect "high mileage" cars to come down much faster.... the modern cars are - sadly just used cars, and the more they make - the less the exclusivity and value retention. This is my 10. cents - of watching the Ferrari market since about 1979....

 

Seems pretty accurate.

Where do you see 550/575 prices going?

 

Nothing more I could add to this, seems pretty spot on..

 

Try selling an Enzo - era V12 right now, and you'll have a answer to that question.

Market is flat. 250 and 330 models not selling. Anywhere. Pricing off 25% and they still are not selling. Same can be said for Boxers. This is a great time to buy, if you are in the market for one of these cars. And, IMO, I don't think we've seen the end of the decline.

Only market that appears hot is newer cars and limited production new models.

 

I think you will see 550's hovering around the 90K mark for average cars, and 120K for outstanding. add 15% for 575...

 

Enzo era cars are not as commoditized as one would think, however speculation has driven prices up on the "average" Enzo era cars. 250 GTE's 330's, and 375's... are over priced, and there are a lot of them compared to other Enzo era cars.

if you have a 275 or 250 SWB - those cars are appreciating - slowly- but they are going to go up and up , and those deals are not well published... auction of these cars is big news... most are sold by "private treaty"... so its a very small world dealing in these cars.

That said - we are not going to see 330GTC's ever being a $100K car again... or if it is, there will be other massive economic problems for the rest of us. Da Vinci's sketches do not trade lower... regardless of the economy.... same with Enzo era cars.

 

Sounds reasonable, the ask on an outstanding car is 180 now and reasonable 125-145

These ask prices represent last years peak.

Saw one last weekend, each time I see one they grow on me more. What are they like to drive?

 

IMO values are medium heading lower. Lots of inventory sitting which means prices will come down. This is across the board and not just Ferrari. Even the air-cooled Porsches are down.

 

Sean, a 550 is a beautiful, satisfying car to drive. But it's less fun than our flat 12s.

 

If you grew up in the '60s, you'll love it. Frankly, the biggest joy is making a 2nd to 3rd shift under power without the hood dipping.

 

The only similar cars i have tried were a 456 which I drove about 250 miles one day. It was really dissapointing, zero feedback steerign lots of body lean and pretty uninteresting to drive. I can say the same thing about the 599 I recently drove, well it didnt have body lean, it was really fast but felt muted but was big heavy and uninteresting.

Somewehere along the line in my book ferraris became useable but concurrently just another car to drive if below 9/10ths. Yes they look dramatic, yes they are "fast" and they mostly sound great outside. But too much of the old magic seems to have been lost.

So yeah a 550 would be interesting to try, I understand its more refined, more of a Gt than the flat 12 cars, but does it still have the magic.

 

I suspect you'd be disappointed by the 550 in that case. After the flat 12s, with that brilliant non-assisted steering, the light steering (with not brilliant feedback) of 550 is a shock. Different type of car.

 

This is what I fear. Since I also have Loti steerign feedback is an important feature.

 

I found the stock steering in my 550 overly assisted, then I plugged in a steering ECU programmed with the FHP steering curves.... MUCH nicer to drive in the twisty back roads. I prefer the MSW custom steering curve when I hit the highways for a long trip.

 

Well when 328s and 308s are more than 360s, Economic Gravity has been offended.

 

Cant not agree with that !

308 Vetro, carb & 328 is fantastic car. Sorry but not so many little boys dreaming of 360 F1.
And in my point of view, a 250 Lusso will always be worth more than BB or 550

 

A nice 328 SHOULD and WILL spend an eternity being worth more than a 360 starting at some point soon......screw gravity LOL

 

Virtually every car in the for sale section has had at least one price drop and most are still for sale.