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Newbie Question about Reselling Ferrari F355

Discussion in 'Mid-Atlantic Region - USA (PA, DE, MD, DC, VA)' started by schefdeh5, Nov 2, 2008.

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  1. schefdeh5

    schefdeh5 Formula 3

    Nov 2, 2008
    1,529
    U.S.A.
    #1 schefdeh5, Nov 2, 2008
    Hey guys.

    Soon inshallah I'm going to buy a Ferrari F355. I was wondering how it holds its value. Most likely I'm looking at 1997 with about 25,000 miles , color would be yellow, paying around $70,000 for it. My question is: If I want to resell it in the next few months or years, would it hold a good value or would it depreciate very quickly? I would be selling it individually. Also, do Ferraris around here get sold quickly when sold by owners?

    Please let this newbie know.

    Thanks,

    Schaf


    Here's how it's supposed to look like....just for fun:

    [​IMG]
     
  2. turbos7903

    turbos7903 F1 Rookie

    Mar 16, 2006
    3,742
    delaware
    Full Name:
    jon walton
    #2 turbos7903, Nov 2, 2008
    One of my favorite cars!! And personally the color is stunning but know that Yellow is an aquired taste for any car and Ferrari is no exception. They have come down a lot in price recently so do your homework on the purchase price and you should be fine. They are getting alot of price pressure from the arguably more reliable 360's now being bought in the 90k category for 1999 models. Also from what I hear there are some rather expensive repairs that involve Exhaust manifolds and valve guides so make sure you either factor that into the purchase price or be assured through receipts that these updates have been done. Either way if your looks anything like the picture its a stunner. By the way a Tubi on a 355 is intoxicating!!! Jon in Delaware
     
  3. 285ferrari

    285ferrari Two Time F1 World Champ
    Sponsor

    Sep 11, 2004
    20,950
    MD and NE
    Full Name:
    Robbie
    #3 285ferrari, Nov 2, 2008
    Do not buy that car for $70K...Nobody knows what the future car market will do, but there are newer 355's out there with less mileage right now for cheaper. If you are concerned about resell value before you buy the car then maybe a ferrari is not right for you... Post this in the 355 section and you will get a ton a different answers, but that is the best place to get your answers....
     
  4. wetpet

    wetpet F1 World Champ
    BANNED

    May 3, 2006
    10,210
    #4 wetpet, Nov 3, 2008
    priced too high. I'm no expert on 355's, but i imagine they are getting close to their bottom. everything after the 308 has bottomed in the 40-50k range. the 355's are getting close. of course, ymmv.
     
  5. Robin

    Robin F1 Rookie

    Nov 1, 2003
    2,931
    Arlington, VA
    #5 Robin, Nov 3, 2008
    Any particular reason why you'd spend $70k on a car and sell it a few months later? If losing money is a concern, don't buy a car!

    -R
     
  6. ZINGARA 250GTL

    ZINGARA 250GTL F1 World Champ
    Owner

    Jun 21, 2002
    17,499
    PA
    Full Name:
    Ken
    #6 ZINGARA 250GTL, Nov 3, 2008
    Fascinating. When we had dinner I noticed a certain light in your eyes when you discussed your 355. On my death bed, there will be a certain light still there should you mention my Lusso.
    That is what it is all about. When the time comes, you let it go. That certain light has no price.


     
  7. Bryanp

    Bryanp F1 Rookie

    Aug 13, 2002
    3,821
    Santa Fe, NM
    #7 Bryanp, Nov 3, 2008
    +1
    buy it because you love it and can afford it.
     
  8. schefdeh5

    schefdeh5 Formula 3

    Nov 2, 2008
    1,529
    U.S.A.
    #8 schefdeh5, Nov 3, 2008

    Thanks for the answer.....I'm thinking about reselling it also because I'm going to do some engineering business in Dubai inshallah. But I REALLY REALLY want to drive a F355 in the U.S. I would hate to have it sit in my garage for a year or two. That's a waste......that's why I'm thinking about reselling it...duh. Otherwise, I'd keep that thing forever.

    Anyway, I'm gonna post this also on the 355 forum.

    Thanks Ferarris
     
  9. 355dreamer

    355dreamer F1 World Champ
    Owner

    Apr 3, 2006
    10,476
    DC Metro
    Full Name:
    L.C.
    #9 355dreamer, Nov 4, 2008
    Did you get my PM?
     
  10. Fpassion

    Fpassion Formula Junior

    Jun 1, 2005
    599
    #10 Fpassion, Nov 4, 2008
  11. sbartley

    sbartley Rookie

    Apr 14, 2006
    7
    #11 sbartley, Nov 15, 2008
    I have a 95 355 GTS, and it is arguably the favorite of my four Ferraris. In terms of value for money, it is hands down the best deal in the Ferrari world in my humble opinion. As for pricing, it all comes down to condition. $70 k seems like a good price to me (I wouldn't sell my car for anything close to that, but it is not for sale and probably never will be, so that may be irrelevant...). I would encourage a good pre-purchase inspection. A major service can easily cost $8 k - $10 k, so that can account for a big difference in determining a fair price to pay. I would always advise people to pay up for a good car, but don't be afraid to buy something with deferred maintenance if the price reflects that. The guys at FoW know these cars like the back of their hand, so I would have them take a look at it. And Yellow is my personal favorite color on this car, although mine is red.

    Good luck!
     
  12. 285ferrari

    285ferrari Two Time F1 World Champ
    Sponsor

    Sep 11, 2004
    20,950
    MD and NE
    Full Name:
    Robbie
    #12 285ferrari, Nov 16, 2008
    As long as they don't price it for him he will be ok...They are about $10K-$25K high on everything in the store....
     

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