another price drop on the F1 Moving 355

Let's give F1moving and his car a break. If you were in his place, you'd appreciate a neutral discussion since some of his potential buyers are from here. It's true that the market will determine the final price so let's get back on this when that finally happens.

I'd be patient and sell the car on his terms. He'll find the right buyer. It is a beautiful car with great records, service and low miles. No one has any nit picks with the car...

The group is really just trying to find a magic "value" number. Those WITH cars are going with a high value, those WITHOUT are touting a lower number.

All good and along party lines...

I suggest creating a new thread with new cool content at this point. Give me a bit and I'll have something new going up.

Robb

 

" you'd appreciate a neutral discussion "

He demonstrated he was never capable of a neutral discussion , that's why he's not here anymore

 

Lol.

Robb

 

Hah, yup. The car will bring what ever it brings. When it does sell for more then the peanut gallery says it is worth will there be a line of commenters saying how they just missed out and were just about to buy it?

 

Classic, Steve.

Robb

 

Hagarty seems to give everyone want they want. The Teir 1 cars have a valuation of about what his price is at now. The teir 2 cars drop significantly to what most cars we see for sale should actually be priced at.

Teir 3 and 4 cars are the higher mile and salvage cars rounding out the bottom.

I think the rub comes when a Teir 2 car is demanding Teir 1 money.

And unless the car is a flawless rare example I'm sorry but it's not a Teir 1 car.

 

So just for a clarification, (and I'm being serious in my question - not sarcastic) what separates a tier 1 from tier 2?

Miles only?

Robb

 

Condition #1 vehicles are the best in the world. The visual image is of the best car, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the car has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 cars is "concours."

#2 cars could win a local or regional show. They can be former #1 cars that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and interior will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine compartment. The vehicle will drive as a new car of its era would. The one word description for #2 cars is "excellent."

#3 cars could possess some, but not all of the issues of a #4 car, but they will be balanced by other factors such as a fresh paint job or a new, correct interior. #3 cars drive and run well, but might have some incorrect parts. These cars are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. "Good" is the one word description of a #3 car.

#4 cars are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the fender has a minor dent. The interior could have split seams or a cracked dash. No major parts are missing, but the wheels could differ from the originals, or the interior might not be stock. A #4 car can also be a deteriorated restoration. "Fair" is the one word that describes a #4 car.

I doubt there are any #1 cars here. Most would fall into 2 or 3. Might even find some 4s. I would bet Dave R's 95 would be a condition 4.

 

just a point of discussion, can't it be stated as director's use?

 

John stated verbatim the teirs as described in the Hagerty Valuation tool.

 

It could be, but that's a taxable fringe benefit so you end up paying anyway. From the IRS audit techniques:

Although it is clear that fringe benefits are taxable, employers may not treat them as wages for income and employment tax purposes. Employers may classify a taxable fringe benefit under expense accounts other than compensation, resulting in a failure to subject the fringe benefit to income and employment taxes..//..The executive’s personal use of the vehicle is taxable.

Sounds like people treat their 'company' vehicle as a business expense rather than a form of executive compensation, which the IRS wouldn't take kindly to. Then again I'm not an accountant, and basically everyone I know who owns a company has cars, boats, and homes registered to their business and never get audited, so have at it. Not a risk I'd take though, especially on an 18 year old Ferrari.

edit: noticed you're not in the U.S. so it's probably a lot different. Way off topic anyway

 

It's now sold.

 

Confirmed with the seller or?

 

Yes via another forum.

 

Sold for big money.

 

The way it should be

Maybe the new owner isn't banned here and will chime in.

 

Congrats to F1moving.

Beautiful car. Well bought. Well sold.

Can't wait to see the new 430.

Robb

 

I felt he dropped price a bit too soon. He posted right around the holidays when most are to busy to worry about purchasing a car. Especially a high priced sample.

 

For sake of market knowledge what did it sell for?

 

I would be surprised if he got 60.

 

I heard from a reliable source he actually paid the asking price for it. I was a little surprised but I hope he will enjoy the car.

 

Asking was 79.9k so there is your yard marker.

Combine that with 355dreamers white GTS asking 80 and the black horse Berlinettas around the same and you have your direction with prices. None of these "had" to sell. There will always be some other cars lower and possibly higher based on condition, colors, miles, service, and even some options.

Robb

 

You're wrong.

 

It does appear that all of the analog models are increasing in value. The 355 certainly a worthy candidate. Impressive that the gentleman sold his car quickly. It seemed a solid example.

 

I took my F355 for an hour drive today just to drive it. I for one am not surprised he sold it for asking price. These are amazing cars that have been selling insanely cheap for to long. It appears that time is closing.