What am I missing here? 360 MT Values

So I have started looking at "comps" in preparation to list my 04 Spider. I keep seeing this car come up on Ebay. Its a 6spd MT! 74K!

What am I missing? Have our cars really dropped down this much in value? Mines an F1. Exact same year and options. Lower mileage, but still an F1. Are F1 360s worth 50k now?!

https://www.ebay.com/itm/2004-Ferrari-360/302734828655?hash=item467c66e46f:g:QFMAAOSweKda9Ncw

 

This is what I was wondering...I think they are 60ish range. But a quick cash sale seems to be at 50k :/

 

One word: Blue. Powder blue Ferrari's aren't the most sought after.

Near 30k miles doesn't help it.

 

Thats same color as mine. Titanio Grigio. More of a Gray. The lights make it look blue I think. I didnt think it was a bad color, but I guess I may be wrong!

 

I firmly believe that the Modena is one of the best Ferrari designs of all time. I always felt like the convertible was an afterthought but that's neither here nor there. Most potential buyers know that any type of top failure as a financial disaster and the color is not helping it at all. The manual transmission is a definite plus.

Young guys successful enough to afford these cars are not looking for a manual transmission and are definitely not impressed with the single clutch F1.... or the price to fix what is otherwise a regular car like anything else. You can blame the drop in prices on obnoxious owners, wearing dress shoes with no socks and pastel sweaters thrown over their shoulders, and greedy mechanics. I honestly don't know which one of those two have tarnished the brand more, but both have definitely done their part. Successful generation Xers think the whole Ferrari thing is lame.... and that's the buying the pool. Sorry.

Ferrari needs a version of Magnus Walker to hot rod some of these and drive them around Los Angeles to breathe some life into the brand. I hate to say it, but I believe that Ferrari and Harley Davidson are suffering from the same aging clientele.

 

While that is still disgustingly cheap, I think the modena command a higher resale than the spiders.

 

Damage listed on CarFax, bad enough that it seemed to stop accumulating mileage for six months.

Pretty bad leather warpage on dash. When you see that, you wonder what else has been deferred?

6 owners on CarFax.

Still seems low, but there is some obvious stuff holding it back.

 

That makes a little more sense. Forgot to look at the Carfax on there.

 

People haven’t caught on yet that the nurburgring generation of cars we’ve seen come out for the past few years or so that can achieve amazing lap times with computers, turbos, double clutches, etc simply aren’t as fun to drive as cars from the 360’s generation. Eventually they will.

 

The best of the best still sell for decent money.
A "problem child" 360, MT or F1, is going to have a limited market. Yes there are folks that will still want the car because it's a MT-- but not a many as there used to be IMO especially with the CarFax issue.

 

The difference in value on Hagerty between a #1 car (concours) and a #4 car (fair) for a 2004 360 Spider is more than $40,000. I'm not sure this one, with its history, would qualify as a #4 and Hagerty does not quote a value for a #5 condition Spider. I agree with the comments that the problem is likely the CarFax issue.

 

Nothing wrong with a persons opinion about what car makes them happy. Nothing at all! I originally wanted a grigio nurburgring but ended up with a rosso. The market value what it values dispassionately...

 

That eBay car looks too blue to be grigio titanio! It is not Nurburgring either, forgot the name of the blue hue of grey. Could also be reflection of surroundings. Grigio titanio is a beautiful light grey - I like it better than the later, darker, grigio silverstone common on 430, 599, and 612.

 

Heres my Grigio Titanio for reference.

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In that lighting it looks almost Nurburgring - silver. In real life it appears a tad darker. I have a MT coupe in Titanio and a Scud in Silverstone. A few early 430s seem to be Titanio - great color for the 430 too.

 

The best.

36k+ on mine, 11 years owned
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We’re the lucky ones; a gated 360 is one of the finest drivers cars ever made, and can be had and driven like it was meant to in a condition not too far removed from how it left the factory at a price the everyday Joe can afford. In 30 years they’ll be 5 times as much and sit in collections gathering dust.

 

Agreed! (while I think it has been determined the aforementioned car is Grigio Titanio, not nearly as polarizing)

Interestingly enough, on Sunday a guy said to me in the Whole Foods parking lot... "Good to see that not everyone goes for the traditional red Ferrari!" Then he made a joke about Magnum PI and went on his way.

As I said many years ago when I first bought this car... I knew didn't want a red car because I wanted to be a little more low profile in my first Ferrari, but I also thought I knew I DEFINITELY didn't want that "Baby Blue" Ferrari. Heretofore known as "Powder Blue", thanks to the good doctor!

Non red, and certainly Powder Blue cars are absolutely worth less because of the color. They look horrible online and in pictures. I found what I thought was otherwise a perfect car for me and bought mine sight unseen (Gated 6-speed heaven) in the last recession for $64K with 13K miles so I'm pretty happy now at 22K miles many years and smiles later. I bet mine is the only one like it in the country, perhaps the world... 6 speed, Daytona stitched sport seats, full leather, etc. On top of that it is somewhat modified but I'm not talking about that. I have been watching the market since they came out and I've never seen one like it. So, Powder Blue owners have that "rare because nobody wants it" thing going for them.

Heck, I think Powder Blue Ferrari's (Grigio Alloy) are probably worth the least in any model it is painted on. I mean, lets be honest... a Grigio Alloy 612 is a hard car to instantly fall in love with. It is such a weird color in pictures. In person, it can be absolutely breathtaking... at least on the 360. It is SUPER metallic. When wet it looks so bright it is like it is on fire. In direct light it looks more silver, at night and in indirect light it totally changes color and you see the blue come out. Again, in person it is not offensive at all but it is definitely not the traditional Ferrari experience.

All that said, I'm jonesing for a red one to add to the garage one day. I'm thinking a 355 will do the trick. I don't think I want to own one much older than that. I also think I've come to my own personal realization that every true Tifosi must own a RC or RS colored red one at some point.

Until then I try to go a little lower profile in my... Baby Powder Blue Ferrari. (Plenty of pictures in various light for reference). Unfortunately it actually draws a decent amount of attention and I see people snapping pictures all the time. I always have people commenting on the color out of the blue, no pun intended. Not what I wanted but I imagine a red one draws even MORE attention... but perhaps a different kind??? Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login

 

Thank you, grigio alloy - a color for the mature Ferraristi. I actually like it - your car looks great. Nice seats!

 

In a separate post about values... I believe we are near the bottom for 360s. The design will stand the test of time and I hope they will always be worth more than the 348!

I don't intend to offend F1 owners with the following comments but I believe manual Modenas are probably the best bet in my opinion for owning a keeper that will hold value long term. Never driven an F1 but I own numerous Porsches with PDK so I feel there is no need. The coupe has cleaner lines, lighter weight and less complexity because of the fixed roof. I'd scoop good ones up now if I were in the market.

F1's are a big question mark with regards to future values. People don't really want F1 355s, at least I don't for the same reasons I don't want a 360 F1... they are just too early and it sounds like the experience pales in comparison to modern dual-clutch transmissions. They have come a LONG way in the past 20 years. Porsche's PDK is unreal. I've driven it on COTA many times... it is worth its weight in gold in the right environment. But I will say that in any modern car I never get the same type of rush as I get on the streets with my 6 speed gearbox and naturally aspirated 5 valve Ferrari V8.

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The situation may be a little different in the USA but here in the UK a manual spider is the most sought after (and hence highest priced) version of either 360 or 430

LHD cars are valued lower than RHD cars and original UK cars worth slightly more than imports.

All that said, for what you get I think an MT 360 is still a relative bargain and I'm glad I have one in the garage.

 

It's not a representative example because of the Carfax ding. I do think we are at the bottom of the depreciation curve with the 360 though. Great time to buy. Bad time to sell.

 

I too like powder blue.
Sadly, this 1999 car was not properly documented for use in CA so back to the seller it went.
I prefer this color to my current red / tan

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spectacular pictures!!

I think there are 4 markets for these cars (in no order):
1 - MT-coupe
2 - F1-coupe
3 - MT-spider
4 - F1-spider
with so few cars sold, its really difficult to establish a "market" value.

 

love the seats