360 Spider Prices Dropping?

I have a collection of dupont registry magazines and a similiar thought I had was regarding the 355 spider. I watched that car sell for $150k about 4-5 yrs old. Now you can get most for under a $100k dependingon how old.

Sooo if history repeats itself, I would dare to say the 360 will depreciate at the similiar rate if you are willing to wait. Figure on only about $10-15k per year from this point foward, but will reach a floor higher than the 355. IMAO

 

Only the cars with no warranty. Newer 03-04 models are still in the high teens, while 00s and 01s are getting close to and below MSRP.

 

I too am ready to buy a 360 spider and have been shopping for awhile now.
Tomorrow, I should complete my sale on a 360 spider, '03 year, a good buy.
I've seen prices drop over the past 2 months, but I'm not sure how much more. You have to "jump in sometime". Being in HI TECH for 28 years, remember the ole saying, "analysis paralysis". And, more importantly, you can take you money with you and a lost smile on your face to that 6 foot pine coufin that is waiting for all of us Ferrari finatics.

 

Just curious as to what you think a "good buy" is at this point. They still seem pretty inflated to me. Every once in a while I see one in the 160's but for the most part people are still asking insane prices.

 

I do not think they have really dropped at all. 01 cars are now selling at sticker or over and with 05's out we are talking about cars that are four years old.

 

The dealer I bought my 308 from bid on a 2001 360S for 115K. He was outbid by 5K by local dealer that I will not name.

 

Is a 2003, 360 Spider F1, red/tan fairly well loaded with 1,400 miles on it for $204,000 and 1 1/2 year warranty remaining A GOOD BUY?

 

Truer words were not spoken. Cars with 1.2 - 2.5 years remaining on warranty are easily in the 200+teens range, for a good car. Colors and options make a HUGE difference on these cars....and, although a lot of people don't realize it, there are newer cars that have "stories" attached to them.....

 

I guess the question will be when does the 430 spider come out and what will that do to the 360 market. Look at the 355 spider market, for the most part they are half the value of the 360. Also, I think that when the Gallardo spider comes out it will be a much better value than a few year old 360 with no or little warranty. Ferrari will always have their "end all be all" fanatics that will only buy ferrrari but there will be too many spiders in the marketplace to sustain the pricing. Just my opinion. Throw the DB9 Volante in the mix as well as the SL65 and there are less buyers looking for just a 360 spider.

 

When you say 'bid' and 'outbid', do you mean that the car was actually SOLD for $120k????? (plenty of 'bids' on e-bay that mean nothing if there was no transaction.)

Also, what's the rest of the story/details on the car???? Condition, history, miles, US model or not?, color, options???? Please elaborate since that seems crazy inexpensive for a '01 360 S. Perhaps you meant $220k???

Thanks!

 

I think he was speaking about a Dealer car auction not eBay.

 

The prices are dropping. There is no doubt about it. They will continue to drop with the most being when the 430 is offically delievered since there will be LOTS of cars for sale since 360 owners will be trading up. Good dealers are out there but if you wait a bit longer, you could save a lot more ($10K+).

 

no, iuts fair in current market at best!

 

Wrong $ 200+teen range is wishful thinking.

Warren: I have a 2004 with 1500 Miles that I can offer you at that price + $3000. Delivery was I think in March this year!

I will be on the track most of the day tomorrow but feel free to leave a message: 305-867-7740

 

Actual bid price for the local dealer and sorry I do not have the specifics but since it was bought by a well known dealer it must have good history. I did not get more details since I wasn't there and I'm not in the market for a 360S as I sold mine recently. If I was buying one I certainly would have asked all the details.

PM me and I will pass the dealer info and you can ask them.

Philip

 

I was just using e-bay as an example. I was asking if what was mentioned as a 'bid' price was the actual sales price or merely a low bid that was never accepted.

 

I wasn't in the market for a S, just a coupe. However, if what you're saying is true, that a S can be bought in the low 100's, I'd rather have the S!!!!!

By the way, are you implying by 'bid' price that it actually sold???

 

Gotta disagree with you on this one Keith. There won't be LOTS of cars for sale because there won't be LOTS of 430s coming in. Sure, there will be some, but Ferrari isn't going to pull a Lamborghini and dump tons of 430s on the market right away.

In fact, there are those who think the market for 360/360S will increase slightly when the 430 first comes out. Why? Because lots of people will run to Ferrari dealers and say "hi, I want a 430" and they'll respond by saying "ok. you can wait for 5 years, or you can buy this 360, become one of my customers, and get on the list for the 430 a lot quicker." In that case, demand for 360s will spike a bit...that's exactly what happened with the 355 when the 360 came out.

nlh

 

I have a new 360 spyder / red/tan that I will be able to recieve delivery on, I am paying sticker on it as it is new, do you think I will make out ok if I sell it within 2 years?? any thoughts?
Thx
Gar

 

IMO you should be able to get MSRP back in 2-3 years with reasonable mileage (less than 15K). 430s will be excruciatingly expensive in the secondary market for at least a couple years which will help keep your 360's value up. JMO.

 

I would plan for a realistic resale expactation. In 2 years, I'd guess you would be lucky to sell it for what you paided for it. I'd plan on -$10,000 to -$20,000 depreciation. You should also factor in the 6 speed vs. the F1, color and options. That is only my humble opinion. If you can buy a new 360 sppider at MSRP, I'd still do it, just plan for the worst and hope for the best.

 

Hey Martin: Couldn't find the '04 Spider you mentioned on your web site. I looked in the inventory and sold sections. Maybe I just missed it. Link? Also, you have an '03 Spider with 750 miles going for $218k. Why would the '04 go for less than the '03? Thx - Tim