Please explain to me a $111,000 355

The average price of a new car in 2019 is $38K. The fact that one can go out and buy a classic gated Ferrari for just a bit more than that is madness. Time to buy and enjoy.

 

Yep and going up. By my calculations and that is not saying much, but somewhere between 6k-7k cars in USA. That is not a lot to go around. And they are great cars. Great to drive and do not need near as much service as made out to be, unless completely neglected. These cars are such a blast!


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I would say mechanically my car is pristine.

But to call it a pristine car , not even close because I drive it.

In my mind a pristine car is the the mechanical shape of mine and the cosmetics need to be up to rossacorsa and mad828
Cars.
They also have to be pure original. This is why I have kept everything.

My car wo7ld l8kely need 50 k to make it coametically a show winner.

I would not sell in in the shape its in for less than six figures so that would put it higher than anything catagory and un realistic. I think many of us feel that way.

Knowing what i know now i would still buy a 355 but i would buy a reasonable priced one and expect to pay some money over the decade fixing it up to the standard i am happy with.

 

Based on these 1k mile, yes you read that correctly 1k original miles, 360 and 430 sold by the same original owner. I not convinced he received a huge low mile, Pristine Pricing Premium.

I do know his cost per mile depreciation, and smiles per mile are exorbitantly askew!!

I have 30k on my 1997 355 and will definitely keep driving it.

https://bringatrailer.com/listing/2001-ferrari-360-spider-6/

https://bringatrailer.com/listing/2005-ferrari-f430-11/

 

Would agree. Only caveat is he sold 15-20 years to soon. And Ferrari made a lot of those cars. [emoji41]


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Seems this way after learning of other recent transactions besides this BaT one. Manual tranny particularly.

 

I can assure everyone that pristine sorted gated cars are six figures. The lower the mileage, gets even deeper into $$$. Buy now or pay later. Even sorted gated cars in the 30k+ mile range are almost 6 figures. My desire is to keep climbing. I hope the F1 tide lifts as well. Especially GTS cars for rarity.

And I hope special one off colors, with special rare options climb to [emoji41]

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I've posted this prior - in the last year, I know of several F1's that sold for well above the 6 figure entry mark

 

https://www.hagerty.com/articles-videos/articles/2019/02/21/scoop-up-these-cars-before-they-take-off


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2 months month said the same about the 348. They said that about the 355 in 2016. Probably 10 years before that too. I suspect they pretty much just roll though cars and say that, they have to have some content I suspect. 325, 348, 355, 550, F40 they pretty much mentioned them all in this context at some point often at many points.

That said, looks like they are all going up, question is how far, I still think 348 will pass the 355.

https://www.hagerty.com/articles-videos/articles/2018/12/12/dont-miss-the-boat-on-these-6-cars
https://www.hagerty.com/articles-videos/articles/2016/07/26/july-2016-top-25-cars

 

That article isn't even consistent with their own price history.

 

Hagerty is a mess. It's good to get historical selling prices but that's it. They don't have any inside information or mojo or crystal balls they just echo trends like Gartner does, complete nonsense.

 

It’s very simple for me. If experts claim that values on my cars are going up than I strongly agree. If they say they are going down than I adamantly disagree. Very scientific.

 

Exactly. Hagerty is a total joke.

 

I don't know how long we will continue to beat this dead horse..... most data is from public sales, no regard to condition or service. Private sales are strong for pristine cars. Time to move on from these foolish threads

 

I agree. Pricing is woefully low. Condition scale used is not useful, truthful or representative of the cars being sold. I did some math earlier today and found the average of 10 cars to be about $68k and that was two extremes high and low. That was asking price readily available.

I know Dave, but I like the conjecture because I want to see the pop like 911 Turbos did. That means one of my cars will break $200k [emoji41]


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Dave, I get your point but not all cars being sold are pristine, low mileage cars, private or otherwise. I've seen very few cars I would call pristine. Here is one I almost bought back in 2012. 1999 F1 with about 7k miles on it. I was offered it for $55k. Didn't go for it because it was an F1 and also the PPI showed it needed a lot of little things aside from a major. The car was cosmetically perfect but had sat for 6 years. The cars was wholesaled to a dealer in AZ where it was services and listed for around $80k. Don't know what it sold for but it did sell in later 2012. The car is now for sale for $80 with just under 9k miles on it and 2 additional owners. If it's still in the same condition it was when I looked at it, there isn't a better spider anywhere.

https://www.cargurus.com/Cars/inventorylisting/viewDetailsFilterViewInventoryListing.action?sourceContext=carGurusHomePageModel&newSearchFromOverviewPage=true&inventorySearchWidgetType=AUTO&entitySelectingHelper.selectedEntity=d1120&entitySelectingHelper.selectedEntity2=&zip=06447&distance=50000&searchChanged=true&modelChanged=false&filtersModified=true#listing=219367565


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John, when did I say all sold are pristine? 98% are not

 

Agreed. And likely more towards the -pristine- end of the spectrum scooped up before they hit the general public.

 

Dave, don't get pissed at me buddy, but you keep posting that pristine cars are pulling big bucks in private sales. I won't argue that point. But I'm glad to see you say 98% aren't. The point being that those big dollar sales aren't representative of the market and not even all pristine cars pull that kind of money. Frankly, $111000 for the car which is the subject of this thread was ridiculous. The guy must have been sipping too many Martinis.

The car I just posted about has been on the market for going on 6 months. I've never seen a better car. So why hasn't it sold?

Like I said, I had a deal for $58,500 and when the PPI came back it was offered to me at $55k, with a couple of items to be corrected.

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Not at all pissed, John but I know this market well. Yes, pristine cars (while rare) command a premium. Some cars are a diamond in the rough (not pristine but low miles in need of minor details like what we do). Those sell for proper dollars

 

Ohh my word.... that color is straight amazing...

 

2011/12 was bottom of market. I know 2008/9 was weak too, but in 11/12 you could buy all kinds of gated cars under 10k miles in the $50’s and F1’s in the $40’s or less. May have been due for a major, but people over worry about that. Spiders were worth more and now, I believe they are worth less.

This one that started this thread had 2 bidders and they looked at the work, the service and the condition and bid to what they wanted. Thank you!


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Volo car looks nice. I can look it over if anyone is interested.

 

When I was considering it, it was 100% show room perfect, cosmetically. I regret not buying it sometimes. But it had a lot of issues. Rear shocks were leaking, one window wasn't working correctly so the top was not working correctly, tires were dry rotted, clutch needed replacement, a lot of small stuff from sitting 6 years (driven 200 miles from 06 to 2012) and the need for a major. I didn't want to buy a car and have to put another $15k or more (estimate from PPI) into the car and not be able to drive it. It would have been July before the car arrived. Plus, I had soured on buying an F1. Here are a couple more pictures from the dealer who had the car. Also, the car had what I think was called the Fiorano option: cross drilled disks, upgraded suspension and some other stuff than came with a Fiorano.

Really, if this car is as good now with the services done, it's a steel at $80k. Yet it sits.

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