458 vs 488 resale parity ??

Question for me is when not if the 458 will have the same value as the 488 and maybe higher in future years

 

Probably within a year after the new hybrid model is released. Figure the last real V8 will be special enough to compete with a turbo


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Thats a good projection - I see the 488 in the same vane as the 348 overshadowed by successors

 

This assumes a heck of a lot more "collectors" than I think really exist.

I'd guess 10+ years before they even come close to parity. There are tons of people on here who think the 488 is a much better car than the 458. It's going to take a heck of a lot of "NA collectors" to soak up all that production.

 

458 values may be lower but are generally holding at this point. 488 values seem to be in a swan dive with 2018 GTB’s often in the $270k and less range. It won’t be a far cry to see values hovering in the low $200k’s or within 20% of a much older 458. It doesn’t take collectors to drive 458 demand. It takes a critical mass of buyers craving NA cars.


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Prices will be close (the 488 was released at a price only 5% more than the outgoing 458); then some people will like more a N/A engine but some others will value the 100 hp more.
Currently 458 prices are more stable because they have already absorbed a large part of the depreciation (they are far lower than 5% less than 488 prices) while the 488 is now readjusting rapidly.
I have the feeling that here (for whatever reason) 458 owners try to convince themselves their 458 will make them rich
Personnally I do not care about depreciation of the 488, I lost a lot of money on all the Ferrari I owned but I spent the money for the enjoyment and I'm fine with it.

 

My experience indicates the 488 values are all but identical to the 458 at the same age and mileage, based on percentage off list. I traded my 458 Spider for a 488 Spider, and recently received a quote for my 488 should I purchase the FL when it is out.
Both cars were spec’ed almost identically. The 488 may depreciate more radially in the future, but my experience did not reflect that happening yet.

 

Both cars are the same high production mid-engine segment and even same platform. Notwithstanding the engine differences, they will follow same curves. Wouldn't expect a variance for same spec, age, mileage examples. Some may like the NA more while others the more recent and higher power model. There will always be plenty of each to choose from. The 488 obviously going down the hard part of the depreciation curve while 458 getting close to bottom. The wildcard for me has always been the longevity of the turbos. At $10K for a single turbo (not including labor and assuming replacement versus rebuild) someone will eventually get hosed and not have a chair when the music stops and that's when an equivalent NA will see its most favor and potentially higher resale. I would also think that at a later point in time the PF logo will also be a draw.

 

No one in their right mind would pay $10K/turbo on a 488 repair 10-20 years from now. Their will likely be better, cheaper parts available than OEM turbos directly from Ferrari.

The 488 just isn't a car in need of Classic levels of detail. You'll repair it with whatever parts are cheap and best.

 

Turbos are commonplace in today’s cars and last well into 100k miles. 95% of owners here wouldn’t put more than 2k miles a year. Do the math


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Great post. Haha. Any more questions?

 

Couple of UK examples also, there are more but it's doesn't filter in a way on the phone I can easily place them side by side Image Unavailable, Please Login Image Unavailable, Please Login

 

What would be interesting is the actual sales price. You can ask anything you want for a car, but doesn't mean it will sell for that.

I was looking at a 3,800 mile '16 488 that had a 313k for $224,000. Someone came and picked it up with a cashier's check. Didn't last 4 days

In addition, I see the 458 in Houston has been sitting for some time. Another decent optioned one in NY w/ 4k miles has been sitting for several months.

 

It’s all over the place. Any online search platform, 2 minute search.

Kind regards,

Nuno.
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no surprises here - was rather evident as early as 2016 to me

 

I agree. There’s a lot of widespread love and demand for the 458 that a lot of 488 owners think equals to not liking the 488 or that they’re under-representated online.

This situation is widespread across the western world. The market doesn’t care what we believe in. It shows that the love felt here for the 458 has an echo in the real, offline world.

Kind regards,

Nuno.

 

488 all day long

 

I've had my 458 for sale close to 8 months now. I think a lot of the prices you see online are fluffed up by dealers... either to catch someone with more money than brains, or take take 10k+ off the price to make someone 'feel' like they are getting a deal.

Mine is a 2010 black/black, 16k miles, carbon buckets, tubi exhaust, ppf, novitec springs. Initially listed for 175 and I have now brought it down to 155 over time. And now finally I have some real interest in the car.

for what its worth. I bought mine 4 years ago and its right in line with this deprecation curve.

 

My guess is that more 488 owners are real sellers - they moved to the 488 (often from the 458) because they are the ones wanting the latest toy, they are now looking at Pista or F8 so they need to price to sell.
On the other hand people still owning a 458 read on the internet that they could get a lot from it, so they have a try - but they have been coping with their 458 for some time, they know they can continue that way if their pricing is not aligned with the market
However in Europe on mobile.de there are currently 154 458 Italia and 160 488 GTB for sale, and the first 115 cheapest cars are all 458 - of course they are typically older and with higher mileage. Looking at the spread of prices it seems that the 458 are actually as depreciated as the 488, considering the introduction price of the 488 was only marginally higher than the final price of the 458.

 

We have to be careful we are not comparing apples to oranges. There is more to actual value of a car than the model ( 458 vs 488 ) Year of car, mileage and specs to mention a few.

 

Hey, all you 458 owners out there, how many of you would describe your life with the car first and foremost as having to “cope” with it?

Waiting eagerly for your replies

Kind regards,

Nuno.

 

I'm not sure what the point of this thread is.

 

LMAO

we 458 owners are in dire times. I think we deserve a stimulus check. Those 488 owners think they're so much better with their torquey powerband, multiple homes, super model GFs, and full hairlines.

Pray for us.

 

Details?