NEW Paradigm...Let's talk about the GOOD cars that have sold for a FAIR PRICE !!

******crickets****** ~~~~~~~~tumble weed~~~~~~~~~~

 

Prices are falling on solid, well maintained cars. That is where the market is. This is a very good time to be a buyer!

 

The high end doesn't set the market either, nor does value pronouncements from folks that aren't going to sell their cars anyway.

A thread headline that says "Mondial T coupe on ebay for XXXX" doesn't imply the market, but it does give a factual price point.

In many ways, this is a good thing. I considered my purchase money thrown out when I bought my car, as I have no plans to sell. I do, however, have plans to buy at some point...

 

Time of year contributes greatly to price, as well as the economy. When you check prices in May , they will be higher than now. Most sellers have their cars in storage, waiting for Summer prices, before considering a sale.
Good Ferraris are rarely dumped on the market cheap, they aren't Honda Civics.

 

Here's some potentially "cheery" news for yea.

How 'bout, the instantly recognisable 1957 Ferrari 250 TR (chassis no 0714TR), with its Scaglietti-designed ‘pontoon-fender’ bodywork, is a potential world record-breaker for sale at RM Auctions, in association with Sotheby’s, is offering the car at its ‘Ferrari Leggenda e Passione’ sale on May 17, in Maranello – and the auction house believes this legendary Testa Rossa could fetch an even higher bid than the 1961 Ferrari 250 GT SWB California Spyder, which RM sold last year for $US10,894,400

 

I tend to agree with you on the timing most people use when putting their motorcycles/boats/Ferrari for sale. However I wonder if you will see that typical rise in prices this year. Many who need to sell are already listing their cars, few in a financial crunch have the luxury to wait for warm weather.

There are also no doubt some who are currently making ends meet for the moment, holding out for those warm spring days to unload their car. That probably takes in all conditions of cars, from beaters to museum examples. There are many for sale now, not all are dogs. Expect many, many more in a few weeks as the conventional thought is exactly as you say to sell in spring. But since supply will be inflated IMO, with flat demand prices will stay low.

 

Drive the prices into the toilet, then people who can't afford to maintain them will buy them, this is where good parts cars come from. The more that are broken for parts right now , the rarer good cars become. Since I don't plan on selling this is a good thing. I need about 5,000 TRs to become parts cars in the year or so

 

http://ferrarichat.com/forum/showthread.php?p=138416313#post138416313

 

Wait for one big bank to fail. Then let's have another price discussion on used modern Ferraris. I wish I was saying this in jest.

If you need the cash, low $30Ks may well be where the market is. There's no law out there that we get rewarded for keeping the odometer below 20,000 miles. My 328 has trophies, plaques, a new 30K service and a pretty odometer -- but it's worth less than it was last year. Sorry, I tend to agree with Tillman! on this one -- once I've bought a car, the money is gone, for all intents and purposes. They are basically very fun liabilities.

If you have the cash, you probably could land a nice 355 in the $50K range. The newer cars have been pummeled and probably will continue to be during 2009 -- they are even more expensive liabilities than the 308/328 generation.

 

The good news is that I am going to pay less in personal property tax. Since I don't want to sell my car, the market is only making ownership a little easier.

The most disappointing thing I have seen lately is the blue 2002 360 for sale in Ferrariads for 95k with only 4100 miles. That would be like $20 a mile. The thing to do is DRIVE.

 

Nope, just want the price of the survivors to go up and cheap used parts are always good to have

 

As a buyer, though, I'm not looking for the "fair" price. If I'm sitting on cash, I'm looking for the guy in trouble. You are making the assertion that cheap cars are all dogs. I argue that isn't always the case. If I'm patient, ready to jump, and knowledgeable those bargains are out there. If not this month, then next -- especially in the modern machines.

 

Ditto that.

I bought a TR new and drove it for 14 years putting on 155K miles. All in it cost me $ 2.50 per mile and I enjoyed every one.

I have never understood low mileage used cars.

 

I recently (three weeks ago) picked up a 1990 348 TS (two owner car), 25500 miles, full engine out service just completed by an authorized Ferrari dealership, great original paint, original wheels, interior like new, with service records, all books, tools, and extra key for just under $40K. Did I get a steal? I don't think so. But did I get a deal, and a fair deal? Absolutely. If this car had been $5K to $6K more I would have passed. It all comes down to what the "market" (i.e. available buyers) are willing to pay.

I own a 1983 308 GTSi QV, Azzuro blue, tan interior, with 60K miles. I wouldn't let it go for what I just spent on a 348! It might have "high" miles on it, but it is very well maintained, service records from day one after being through 8 owners - now that is amazing. The other part of the equation is "what is the car worth to me?" That is what sets my selling price or what I am willing to pay for a new ride.

 

The real cherry 328s used to start at $60K and go north from there. $50K would have bought a nicely serviced one, albeit not a national-level show car. $70K and up bought you a stunning odometer and a title.

Even in a non-distressed sale, I think it would take a great 328 to pull $60K in this market. But I also don't see many distress sales among the 328s -- pretty much the same handful of red/tan cars on DuPont, one red/tan driver at Sport Auto, a couple of high end red/tans at Marshall Goldman and Motorcars. I think the GOOD cars that you mention in your thread title have found long-term owners who don't view the value tied up their cars as very significant. From my perspective, the 328 market seems eerily quiet right now.

The distress sales seem to be at the 360/F430 end of the market where people financed their way into the latest model and now need to escape. I wouldn't draw a direct comparision between the 'modern classic' market (308/328/Boxer) and the recent used Ferrari market. Sheehan has a good article on this on his site an in SCM. I agree with much of what he says there.

 

Not only is the 328 market eerily quiet right now, but so is the 308 market. These cars handle great, are fairly inexpensive to maintain, and are just an all around great ride (still turn heads too). I think the people with the 328/308 cars are holding on to them because it doesn't take a lot of extra cash to keep them going. At least here in the Denver area I havn't seen a well preserved/maintained 308 at any of the exotic dealers in quite a while.

 

2nd time already in '09 I have agreed fully with Sparta. Mark it down in your books!

I think that many of the cars on the market today are just that - I have stated in other similar threads that while I am in dicussions with two other buyers (not for my car it's not for sale) I am constantly telling them not to buy a car simply because the purchase price is cheap. That doesn't = overall ownership costs, in fact likely the opposite.

Many of these cars that are already in need of serious help will be purchased by those who will drive them and then realize they don't have the money to fix them, and then they are even BIGGER P's OS, so we can all rape them for parts cars.

How about that for making our cars become more rare Sparta?! I am with you man.

MB