488 Pista Values

That’s a colossal mistake. Best to buy and drive. Any S&P 500 index fund or ETF will handily beat Pista appreciation in both the short term and long term. Worth mentioning, I say all this as a thoroughly satisfied Pista owner.

 

Just saw this black Pista coupe sell at Barrett Jackson for $425,000. No word of MSRP but that's a significant drop from what we've seen in market lately.

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Good friend to NOT take financial advice from. If he is buying a car for the sole purpose of investment he clearly doesn’t know how to invest money.

 

That was March 2021. Not the auction from this weekend. https://www.barrett-jackson.com/Events/Event/Details/2020-FERRARI-488-PISTA-245216

 

So you mean to tell me that '67 250 GTB/4 I bid on isn't showing up on my doorstep? I feel so deceived. LOL. I was sitting here saying, "damn I'd have bid on that!"

Good catch you internet / F-chat sleuths.

 

Explains the pricing!! Lol. I sold my Pista 1/21 and it was below MSRP. Who knew 6 months later the entire car market would explode.

 

I did the same but back in October of 2020. For 20k behind MSRP. But the good news is I replaced it with a Pista Spider that I "thought" I was paying a lot for. Silly me.

 

these pistas will not go down..................the rich are looking for exclusivity in any asset

 

Just talked to him again and I understand his point better.

He bought it as an investment which is most probably not the best thing to invest but he says it will be very difficult in the future to find a Pista with delivery mileage for sale.

So if the bubble bursts and it doesn't appreciate the next years he can always just use and drive the hell out of it.

 

You, sir, have an interesting friend.

Not sure how many people will want a Pista with only "delivery miles" after, say, 5 years. That would mean the car has not been driven (at all, I presume, in order to maintain the glamour of "delivery miles") for nearly 2000 days, to say nothing about the battery (even on a trickler).

 

I would never buy a delivery miles Ferrari years after its release...never.
I want a car driven 2000 miles per year minimum, with complete service records.

 

Interesting is a kind way of putting it.

I am in the camp that thinks all of these end of era last of the dinosaurs ICE supercars will run up in value the next 5-20 years. Indeed, I am gathering up as many as I can given available funds/space. I don’t think very many are as bullish as I am when it comes to their long-term value proposition. That said, I highly doubt they would beat an S&P 500 ETF over any meaningful time period.

 

My buddy a few years ago bought a Carrera GT for about 550k. It had 15000 miles on the clock. Fast forward today and he has close to 19k miles on it. He was just offered 1.4 million for it. He is not selling.

point of the sorry is your friend is making a colossal mistake. Who cares about delivery miles Pista. Let alone one that hasn’t been registered and now you have to pay back fees abs taxes abs jump through hoops??

No thanks. Give me a car with 5k miles.

 

I thought the purpose of these cars was to drive them really fast!

 

Well that’s the beauty of the Pista……you can do both; take your wife/girlfriend to dinner or put it on the track.

 

I thought you would like this Used 2020 Ferrari 488 Pista Coupe for $600000 on Autotrader http://atcm.co/S2PVDP/24E54D59

This car is been for sale for several weeks and it’s been listed for 585K, they just raised the price to 600K!

 

So almost no F12tdF would sell with this requirement nor most modern hypercars, Those cars don't do anywhere near 2k miles/year.

If (maybe when) supply chains ease, the market gets below 30k and rates are hiked >0.5 points money gets tight and these drop. Usually when one drops with no issues (great spec, condition, miles, records, etc.) they all drop fast and back to close to old values. No one is arguing these cars are not vastly overpriced especially when used American cars and other invisible cars are bringing crazy money.

 

This Pista was listed for $439000 at my local Porsche dealer when I was looking to buy one in October last year. I ended up buying one at the Ferrari dealership in Chicago. It's never been sold since then and the Ferrari LI acquired it and listed $90K higher! I don't mean to ruin the sale of this Pista just want to show how the Pista market value is going on now.

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=621268044&zip=19092&referrer=%2Fcars-for-sale%2Fsearchresults.xhtml%3Fzip%3D19092%26city%3DPhiladelphia%26incremental%3Dall%26modelCodeList%3DFER488PISA%26makeCodeList%3DFER%26sortBy%3Drelevance%26state%3DPA%26searchByDma%3Dfalse%26firstRecord%3D0%26marketExtension%3Dinclude%26relevanceConfig%3Drelevance-v2%26searchRadius%3D0%26isNewSearch%3Dfalse&numRecords=25&searchByDma=false&firstRecord=0&modelCodeList=FER488PISA&makeCodeList=FER&searchRadius=0&clickType=spotlight

 

I've always wanted a Pista. However, if the car continues to move toward million dollar territory. It doesn't make sense to own one. Especially since my plan is to drive it like I stole it.

To those that own these beautiful machines. Enjoy them in good health.


Sent from my iPhone using FerrariChat

 

Agree, but the battery is the least of issues on any car not driven for years. hoses, o-rings, seals, internal engine parts not seeing oil. Yeah no thanks on cars with low mileage delivery miles only that seems to turn people on.

 

I paid 85k over 350k MSRP for my 2021 f8 Spyder, I see them now listed over 500k are they selling at that price? Just ordered sf90 Spyder, which one will increase in value more over next 24 months? I will need to sell one, which one?

 

I'm looking for an F8 Spider

 

I believe prices will come down. I'm on the edge of getting a Pista but somehow feel I should wait.

 

Specially if /when sellers keep on increasing prices of cars that are actually not selling...

 

I heard there was an FNA moratorium on selling Pistas for a year but I don't own one so can't verify if that is true or not. Where I store my 458 in Naples there is a Pista waiting to go to market when its time comes up.
Separately, a 2013 458 Spider, red/tan, with 10,600 miles sold at Barrett Jackson fro $352,000 including commissions. There were many sales that defied gravity at the Scottsdale auction.