Barrett Jackson 360 Coupe Prices seem high?

I have some logic here but its only speculation, Let me explain...

Base Model Base Prices (without options)
360 Modena @ 105 GBP in 1999 (105k)
F430 Coupe @ 117 GBP in 2005 (121k) +13 % (16k) increase on base after inflation
458 Italia @ 173 GBP in 2011 (144k) +20 % (29k) increase on base after inflation
488 GTB @ 184 GBP in 2016 (176k) + 6.5% (12k) increase on base after inflation

CS @ 131 GBP in 2004 (131k)
488 Pista @ 252 GBP in 2018 (196k) +28 % (55k) increase in list over CS

.. So obviously Ferrari dramatically lowered its real world increase in profits on the 488 vs the
healthy increase of 20% price hike (AFTER inflation) from the 360 Modena to the 458 for example.

Youll also see that Ferrari used the introduction of the F430 to add 13% hike to base model prices
over the 360...

What this means is that now the real world is that the differential price between a 360 and F430?
That there should only be around 20-25% difference in prices between a 360 vs F430 if you take
everything else out of the equation and just factor inflation (not real world but simple to analyze).
If you then track deprecation per year (adjusted for mileage and spec differences) you can get to
a figure which see's the difference between opting for a 458 vs a F430 vs a 360 is quite pronounced,
particularly between the 430 and 458 where the price hike in base over the 360 was a whopping 20%.

As the cars get older the difference in performance between an F430 and 360 become less relevant
in the classic market that they start to enter.. That's why I say that actually the 430 prices
will at some point become close to parity (10% either way with overlap between models) probably
within the next 5 years... Hence my suggestion that 360 prices will correct themselves as once
they enter true classic status, 25+ years old they start to take an appreciation curve upwards.

Obviously haven't gone into all the detail behind my thinking here but I think we will see a big
increase in both CS and 430 Scuderia values since Factory is now adding clear water (+28% increase
after inflation on the Pista vs the CS for example!) which will have an impact on those special
edition prices as they get older too..

 

Maybe they're one-owner cars and those original owners are famous people? Also, maybe bidders got caught up in the moment and ended up paying more than actual market value.

 

Would make sense- the f1 have not been really sought after the last years ...but maybe it’s the market saying the manual are overpriced and therefore we will buy something else? Doubt it but you never know.


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Are those the prices they actually sold for? It doesn’t seem clear to me.

 

Need to check out this thread. Same discussion going on.

https://www.ferrarichat.com/forum/threads/barrett-jackson-360-coupe-prices-seem-high.592733/#post-146409779

 

trev, not clear to me what you're saying. I don't believe you can take Barrett auction prices as market trending. As I mentioned, the 2000 360 market price is more like $65-70k NOT $90k that some drunk fool paid for it. I'm still shocked that some idiot overpaid so much for that car. Don't people do research before going to the auction? The car's been advertised on sellers website for months. I'm going with auction fever spurred on by champagne and lack of fiscal discipline.

 

I usually try to attend all the auctions in Phoenix this week (BJ, RM, Bonham, Gooding, Russo Steele etc...). I looked at all these cars and they all struck me as "Used" Ferraris. The red/tan coupe had questionable paint work on the front end, the silver Spider had 2 holes on the top, all the cars had pretty significant dash leather issues. I agree with what others have said here about the BJ "Experience". They are masters at it.

Gooding had some beautiful examples of high quality Ferraris and their 05 Yellow 430 Gated coupe hammered yesterday for $150K I believe. Bonham had a 360 Gated coupe red/tan that was rough (cracked front bumper, really bad stickies) sold for $87,360 including premium. https://www.bonhams.com/auctions/25101/lot/98/?category=list&length=10&page=10

 

Not specifically aimed at Barrett but in general I believe we will see the market 'find' the 360 in the next 5 years they will start to climb. Happened with 355 and even 348. I think it will happen to 360 too...

Buy carefully and you'll loose very little ..

 

The 355 market is dead. I've seen some cars sitting for over a year. One particular one about a year and a half and the car is actually listed at a fair price. The 348 has gone up a bit slightly. I think the 360 F1s will come down in price since there's upward pressure from the F430.

 

Also to those thinking of buying or selling in these auctions, consider it is adding at least 20% to the overall transaction cost (not counting transportation to and from). Most places charge Buyers premium of 12% and Sellers premium of 8%. In addition BJ charges the seller an average of $1000 display fee according to where your car is parked during Preview time and when it goes across the block. If you want the Privilege of bidding, a Bidders Pass will cost you a minimum of $450 but if you want "Free" drinks and a ticket to the Sunday Night Gala, the cost will be over $500. The F-Chat For Sale By Owner area is sounding better and better.

 

Barrett Jackson also just sold a $50k Ford for $1.1M so you can probably take those prices with a grain of salt.

http://www.thedrive.com/news/26059/2020-ford-mustang-shelby-gt500-nets-1-1-million-winning-bid-at-barrett-jackson

 

So when prices disappoint at auctions its the market - when they do better than expected its because something is up....mmmhhhh


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The ceo of barret jackson was the winning bidder. He basically moved money from left pocket to right pocket


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That explains how a 50k car gets purchased for 1m. Very different circumstance than the 3 360s.


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Will be quite the sticker shock in 4 years when they go to sell it "what do you mean $10k??? This is the first one! It sold for $1.1M!!!"

 

ok so someone is buying 360s and its about time. given how much those silly punch buggies go for 360s shld be north of them. the 360 is beautiful and was the only game in town back in the early 00s.
almost 15 years since the last 360 was made and naturally aspirated and there arent a ton of clean ones around. will be interesting to see what 430s do for the next 6 mos to a year.

 

for whatever reason this week is treating f1 better than stick....

 

You guys see the 360 6sp on ebay only $60 buy now bad title i would post link but last time i got punished lmao.

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Alot of people on ebay have allready started putting prices at $99k lmao.

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There are so many to choose from for a more affordable price... those Scottsdale ppl were on crack and booze... overpaying left and right for 360’s and TR yesterday


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OK is a knowledgeable Ferrari buyer really going to go to BJ to pick up his dream car? I don’t think so, as others have said the free drinks and the hype seem to be a major factor of the prices. The knowledgeable Fcar buyers went to the other auctions which likely had better quality cars IMO.

 

Cheaper sales of Ferrari’s today. And a gated manual 360 went low earlier in the week. These auctions for high(er) volume produced cars are indicative of little (whether high or low).