....you buy an F-Car thinkin they are gonna hold there value. What does this do?..It means your never sell it ROFL. Get real a 348 LHD is worth 15k a 348 RHD is worth MAX 25k...dealers put there 5k-10k on looking for lottery winners. Are we all stupid?...You dont buy a Ferrari and expect to ever sell it for what you payed for it....maybe if you put the car up for sale the moment you bought it then by the time you want to sell you may get a winner...PMSL. Ferrari ='s nice car but only if you dont care about money..not many of those about! I love my 348 but just digging around looking for value showed me that figures saying they are hloding a certain price is from the dreamersw who also think manure is valuable LOL. My thought for tonight,dont hate cause it REAL.
I do not agree. I think that f-cars hold their value better than any other car. I have driven F cars now for over 3 years as my everyday car. I started with 348 drove it for 10 months put 11k miles on it and sold it for the same price, then a 355GTS for over a year put 17k miles on it and sold if for just £1500 less than I paid for it. I then bought a 355 spider drove for just 2 months and sold for a £2000 profit. I now have a 355B which I love and will not sell. I think that at the moment the 348 has hit its bottom price. But in time they will rise slightly and stay there. I was offered an 89 328 QV rhd 6 years ago for just £17,000 that was immac. At the time I thought it was not that good value, but at that time that model was at its lowest. I have seen the prices rise and now think that a good 328 QV will always be worth £24k. It is a simple numbers game. There were not that many 348 made so there will always be a good command for them. If you consider the depreciation of a Porsche, TVR, BMW M. They lose fortunes. I think one could buy a 348 now and drive it for 10 years and not really see any depreciation at all. Of course, with the later cars (360) they will depreciate more as there were so many made. In time I would predict a late 355 to be worth more than most early 360 cars. Just due to the numbers produced. I lost over £10,000 in 6 months on my last 911 and it was 5 years old when i bought it. I have found F-cars ( as long as they are over 6 years old) to depreciate slower than any other marque.
Pretty angry there Phil, everyone knows sportscars are a dodgy investment. Everything will sell for what it is worth to someone at the time. Saying that, Ferrari values seem to get punished (rightly or wrongly) by hi-miles/wrong-colour/winter-season more than some other makes.
I think that whilst there are some geniune bargains out there, you'll find that the 15K 348 will be a fairly needy vehicle......belts, tyres, paint etc. and you'll soon find yourself with a 25k car (thats worth 20-22k), lets not forget the old Ferrari buying adage "buy the best you can afford" Although I do think the prices for 348's will come down a little further before platueing at arround £25k for a nice 348 ts/tb £30k for a good RHD 348 spiderwith show quality cars going for a further 30-40% more, and the cheap needy cars starting at 15-17k (but needing 3-4k almost imediatley)
I think that the historical way in which we viewed depreciation of F cars will not hold true in the future because: 1. Each new model seems to outsell the previous one in volume (only have to see the number of used 360s for sale) 2. Technological advances are enabling lesser cars to offer similar performance tot he older Fcars. 3. Labour charges are spiralling, making any car that has a perceived large mecahnical labour requirement less attractive. 4. Congestion, restrictive parking is taking away some of the motorists joy. I dont think that prices will freefall, but every year we will see a softening of prices as more and more Fcars compete for decreasing number of enthousiasts.
When expensive cars get older, you will often find temptingly priced examples that need a lot spent on them to get them back up to good or top condition. I think there are quite a few 348s out there that meet that criteria, and because they take longer to sell, there appear to be more of them out there. The good ones, sensibly priced, get snapped up quickly.
I am one of those people who are looking to sell a 348TS and I do not concur with your comments entirely. I agree that it is very unlikely that you will get back what you pay for it but as for a very good example of a RHD being worth £25k tops is pure speculation. Yes you could probably pick up one for that price but it certainly wouldnt be a particularly good one. Me, like a fool turned down a £33k offer on mine 2 months ago thinking it was worth more as it is a very good car and well known car in the Ferrari community. I now realise that maybe I should have taken it but we're all experts in hindsight. The time of year does have a bearing on values as was seen with Al's spider, that was the bargain of the year at £30k but its true value in the spring would be £36k+ and he wanted a quick sale. I will wait now until the new year to sell but it certainly won't be for £25k. I was offered more than that trade! If ive still got it in 2 years and my new car on order is ready for delivery then I might consider a stupid offer to get rid of it. Until then, if someones waves £30k under my nose they will get a fantastic car
Good post Steve, I agree - wait till spring then advertise, you will have no trouble selling your 348 in that colour. Any thoughts on a replacement??
Not sure at the moment. Depends on what mood i'm in, either a 355 or 360 but got the deposit on a new M3 due out in 2007 but who knows what i'll want by then!
