Is the 355 at the bottom of its depreciation?

Canadian prices on 355's have nothing to do with the US market - we're in an alternate reality up here for Fcar pricing. It's very difficult to import 355's into Canada, so what's here is it. Same with 348 spiders, and a few other models. Lots of discussions in the Canada section.

 

This is a tough subject but 2 things were mentioned that clearly guide this trend. First, the economy in general, particularly how much disposable income is in it. The car I sold in 12/05 is back on the market because the buyer, who is affluent, needs the money and the car became a discretionary asset. Read up on household income, savings rates, housing devaluation, interest rate increases, etc. and we are clearly beginning an economic downcycle here in the US. How far this will go, who can say?

Secondly, there are a heck of a lot of 355 and 360 models made in comparison to other Ferrari models. I suppose u can lump the TR's in there with them. There are a heck of a lot fewer 348's. Scarcity, not necessarily the performance or refinement of a model influence price. Example, look at late model Porsche Turbos. Prices are falling for these things regardless of their outstanding performance and low maintenance compared to Ferrari's. Lots were made.

I am always concerned about how deep the market is for used Ferrari's. This is a demand side of the equation. There's the desire to own one, but also the capability or capacity. I can afford any modern model within reason, but I am not likely or willing to buy a model that has high depreciation potential regardless of the experience it provides.

The bottom line is that I think the outlook for 355 prices is that there is more depreciation to be experienced, but the greatest impact is for the latest year F1 Spiders because they are the highest priced of the model. I agree that the sweet spot for pricing is the 15-20 year old model. TR's to me represent one of the greatest values for money right now. At the same price point, I might consider a 355, but what about the depreciation prospects for each model? The 355 likely has more to go. Just my opinion.

 

I wouldn't compare the 355 to a Porsche 993, though I think the 355 is certainly among the best looking of the V8 Ferraris.

The 993 was a nearly bulletproof car, in addition to looking good. It's also sandwiched between the problematic and archaic 964 and the troublesome and unloved depreciation-bomb 996.

My opinion on 355 prices: While looks are subjective, and the 355 is a sexier car, the 360 seems to be the modern V8 with the best reputation so far, and the market will be flooded with them for a while. The interior is a big upgrade and doesn't melt, it doesn't develop rear buttress stress cracks every 2 years, and the power tops on the spiders seem more reliable.

The 355 is also going to face unprecedented downward price pressure as the cars deteriorate long before they become collectable classics, like Boxers or Dinos, and the repair costs become a huge portion of the car's value. F1 clutches, power top mechanisms, adjustable suspensions... not stuff a Ferrari newbie is going to be happy about. I don't see how enough people are going to take an $80K 355 over an $80K 360 to support prices.

There's also a general economic variable -- people can't yank out home equity like they used to as the market softens, and I suspect used Ferraris are often bought with this kind of 'bonus income'.

The 308/328 are stable because they don't have as many stupidly expensive problems to scare off prospective first-time owners. Look at Testarossa values now -- and that's for an honest-to-gosh Ferrari flat-12. There's a huge "scare discount" built into the pricing.

OTOH, if you like a 355, it's gorgeous, it has depreciated a lot already, and the sound like no other V8 around. Life's short. Just don't put your retirement savings in a 355.

 

The difference with the 355 vs other V8 Ferraris before it is its supercar perfomance for a V8 that formerly was exclusive to the V12s, then add its light weight and superb handling vs the V12s that alone besides the looks will keep their values high, if 355 prices do dip anymore expect 308 and 328 prices to dip accordingly, the 355 is a vastly superior car in everyway to the 308/328 series, after driving my 355 around then driving my 328 before I sold it the 328 felt like an antique but not in a similar way to classic V12s such as a Boxer which still thrills immensely, I really enjoyed my 328 when I had it but after driving the 355 alot it just wasn't the same after that.

 

Peter, Peter, Peter,
I will sell you the car when i get the hubcap for the Allemano back!!!!!!
Well at least you have motivation to help me keep the 355 up to snuff when the time comes, kind of "investment maintenance motivation".

 

Sorry don't agree here. The 308 is the last Ferrari that is presently eligble for historic racing and the 308/328 series represent the last recognisibly classic Ferrari models that can be run and worked on cheaply. They are already becoming classics and appreiciating. I have seen a few 328's sell north of 65K lately.

Yes the 355 is a much better car to drive and own in some ways but will depreciate a lot more as may the 348. Right now the 355 is basically another used car (albeit a great one) like a 996 or 997. 30 years from now I think either a 76 308 or 89 328 will be worth more than any 348 or 355.

 

I think the spectrum of condition is really impressive with 355s. There are some that have not been kept and inside and out are just dogs. You cannot abuse the interior, but with care it will stay looking beautiful. The drivetrain is the same: there are some issues to be aware of, but mechanically it is pretty bullet proof.

It will be interesting to see where it is in 15 years - but I bet it is going to go the way of the Dino, and good condition cars are going to be worth more than they are today.

 

Still too new, it will go down more. Nice cars will still get good money, but they're getting cheap enough to fall into the hands of people that can afford to buy them, but not afford to maintain them.

They will bottom out when they are around 20-25 years old.

 

there are some real ratty 308s out there now, more so than nice cars which are maybe 20%, cheaped out on everything from bad wavy panel paint jobs to micky mouse rewiring jobs it would take double the value of the cars to make them right again if possible, its happening with 328s also, this will keep values down for these cars, 355s will hold their values above them always as its one of the most highest regarded V8 Ferraris ever from looks and performance, the motor sits 5" lower than the 308/328 for superior handling combined with its dry sump and trans oil cooler they are perfect track cars as well.

 

i think in a about 3 to 4 years 95 355B (not convts) will come down between 55k to 60k in decent condition and 99 will be around 75k. The biggest cause is the scary maintainance cost copmared to the 328's or the 360's

 

Add me to the list....I look at the 348's and wonder when a decent F355 will dip down into the $40's. That will be a joyous day.

 

Not to start a pissing contest just an observation.. Ferrari Market Letter show the 348 on a slight uptick over the last 6 months and flat for the year while the 355 has been down... TAKE IT FOR WHAT ITS WORTH

CURRENT SIX MONTHS AGO ONE YEAR AGO TWO YEARS AGO

348 TB 46,811 50,030 -6.43% 50,567 -7.43% 55,299 -15.35%
348 TS 57,424 55,592 3.30% 52,442 9.50% 60,808 -5.57%
348 Spider 68,865 66,820 3.06% 66,706 3.24% 75,914 -9.29%
355 Berlinetta 79,148 79,570 -0.53% 82,030 -3.51% 101,462 -21.99%
355 GTS 84,999 87,830 -3.22% 91,916 -7.53% 113,739 -25.27%
355 Spider 95,901 96,753 -0.88% 97,295 -1.43% 119,698 -19.88

 

Ok, this post is not about the 348's but I just wanted to mention that they are certainly rising here in The Netherlands and in Belgium.

I see it at the prices and demand / offer, and the F-dealer tells us the same things. At least and finally a good note for the (my beloved) 348.

 

Exactly.

 

Bullet Proof? You and I have different definitions for that term.

355's with their maint. and frequency of repair are doing more good for the Ferrari repair and parts industry than ANY prior model.

The newest 328 is 17 years old and still does not break as often as a 355, and when a 355 breaks it's expensive.

 

P.S. Just some examples of what I mean.

Valve jobs...355 are famous for it, we are seeing a second wave.
328, 348, 360 a valve job is unheard of.

Worn out rings and cylinders. Getting to be a more common problem in 355.
328,348,360.....Unheard of.

Spider top problems. Another famous trait of the 355. Expensive parts and will not continue to be available for all that many more years.
328,348,360.....Unheard of.

F1 Actuators and hydraulic pumps. Expensive and happens often enough to be worried about.
360...Very rare

Exhaust manifolds. What can I say?
328,348,360.....Never

Climate control electronics. 355 sometimes...same with 348
328, never 360 almost never

Cooling fan and fan control failures. 355 fairly common.
328,348,360....almost never


Leaking shocks. 355 common
328,360 Never 348 Rare

Shock actuators 355 Common
328,348,360...Never

Gooey interior 355,348 Normal 360 Some trouble
328 Never

Oil running out of the bell housing, hydraulic failure of clutch, rattling flywheel 348 and 355 Normal
328, 360 almost never

Melting tail light lenses...355 Normal
328,348,360 Never.


What was that again about bullet proof?

 

Brian how do you really feel? LOL

 

They are nice cars and are very nice to drive. I just think the rose colored glasses ought to be taken off. I have seen too many first time buyers get into one with all the usual assurences just to have the car live up to all the old stories about exotics. For many of those it was the last Ferrari they will ever own. It does not have to be so.

 

Who said tall skinny blonde model is cheap, but she screams when in action!!

 

Out of the 328/348/360 which model has the least issues?

 

328 followed by the 360. 328's are getting to be old cars though.

 

Dam Brian---you make me scared to buy a 355!!! Cross my fingers on this 98 I am looking to purchase

 

Go for it! Just do all the regular maint. yourself to save up for the major or any other things Brian pointed out. I did all the fluids, spark plugs, wires, Cat ECUs, and Tubi installation with info. form the f-chat. Can not imagine paying dealer to dip into my hard earn $$$.

 

True!! If I had paid a shop to trouble shoot my high water temp ($19 radiator switch), by-pass valve solenoid (wd-40 ) and vescovini cat ecu (silliconed split, works fine now). These little jobs would have run into the several hundreds of dollars at least. Thanks to the guys on this forum and some investigation/wrenching on my own, I am code free !!

BTW, get one of those innova 3100 code readers from summit racing they are indispensable!

The money I saved doing this stuff myself will go towards upgrades .