Gated Manual 360 Coupes - Modena Market

Gated 360 in Australia if there Australian delivered are now fetching around the $220 to $250 k. F1 shifts are still an inexpensive buy. What's the global market saying

 

https://www.bonhams.com/auctions/25454/lot/245/?category=list

This nice looking UK example sold for USD$ 77K. To Meridian (Dealer) lets see what it comes back on sale for ...

 

Very interesting that a Ferrari dealer purchased it as usually these cars are too old for them. Unfortunately I imagine they'll stick £10k on the price. If they do that, I doubt it will sell for a while.

 

New one on BAT. Looks pretty in black. Timing and market seem off, but who knows.

https://bringatrailer.com/listing/1999-ferrari-360-modena-6/

 

https://bringatrailer.com/listing/1979-ferrari-308-gtb-7/

This looks ok, $35.5 K with 12 hours to go ...

 

I actually know the previous owner (not the current seller). Previous owner bought it for $7x,xxx in 2010. Very nice car, almost time capsule. I'm not a fan of the mocha interior though. I'm not sure he's going to score big in this market.. I heard he bought it in the $80's..

 

I’ve seen that darker leather with the darker Barchetta red and it was incredible. I think it works well with the black but I’ve never found black to be the best color for the 360, however, I think this car looks nice.

 

A specialist dealer friend sold a nice 20,000 mile gated 360 Spider red/cream for £63,000 this month, with a year’s warranty. (He said it would have fetched £20k more in 2016.)

 

That's a fairly priced car. How do you end up hearing about these cars?

 

Seems the market is falling in the UK

 

I wonder why? LOL

 

That's quite reasonable. I was offered £73k in 2017 for my Modena but it had 37k on though it is quite a high spec car.
I can probably insure it for a lot less next time around.

As to why are they so cheap? It's a manual gearbox as are most cars in the UK. Whilst having a manual I really don't get the fascination with them over F1. The main benefit for me is maintenance and getting it in and out of my tiny garage. I'd much sooner have a sequential F1 car but for the reasons I mentioned.

I do not believe it has anything to do with Brexit. From what I see old classic Ford's are still holding their value.

I paid £32k for an F355 in 2010 which I swapped for my 360 in 2015 (with cash coming my way). If I got £50k for my car I'll probably break even more or less. Mustn't grumble at free motoring for nine years.

 

I don’t think there are many sticks available right now. Those that are out there have higher prices that may be a bit optimistic. So the few ones that are for sale are sitting...

My buddy is hoping to find a good one but draws the line at overpaying. I get the market at work. Same issue with F355 stick it seems on berlinettas and gts. Plenty of spiders available.

Robb

 

Regarding the idea of overpaying. Is there a level of premium he is willing to accept over the F1 equivalent?

Kevin

 

Yes I think 10-20k premium depending on the car, mileage, and spec.

He’s just not finding desirable cars out of the already slim pickings.

Robb

 

Totally get it. I'm not thinking about resale, so I bought a great example with the spec I wanted, and plan to have a gated conversion done shortly.

Kevin

 

Regarding the gated conversion, do you think it hurts resale, not being original, born with etc, or adds some value?

 

https://bringatrailer.com/listing/1999-ferrari-360-modena-6/
Nice color combo, $101,500 with fees.

 

Resale values are a curse! The less there is the less you worry about getting out and driving your car!

 

So is the idea still that coupes trade at a premium to spiders both being stick? This wld have been a 130k car 2 yrs ago?


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Strong! Love it!

 

Strong? Not strong at all.



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Perhaps you know the market better.. but I thought anything over 100 was strong for a 360 gated.

 

I don’t actually- 18 mos ago i commented i thought spiders were more desirable that coupes and i was told I was wrong. At the time my colleague sold an 04 spider with 6k miles for like 120k. So that means coupes were at 130k maybe? I really dont know if the bat car was a good or mediocre price.

 

I don’t think it was a bad price considering you could find 360 stick coupes for sale around 65 just 3-4 years ago before the market got hot...

I think they are pretty stable around 90-100+ for cars around 20k miles with desirable spec.

Around 80-85 for higher mileage cars or cars with off colors / less options / earlier years.

Robb