How much less is a storied car worth compared to a clean one?

There is no perect answer. Most will say (what I have read here in all model forums over 10 years) a 25-30% difference for two car's - one with an accident on CARFAX and one with perfect history. So you are looking at a $60,000 vs a $45,000 price difference. That is without a salvage title. Which we have seen CAN knock it down more - up to around a 50% value of a perfect car.

Even if the car is fixed properly by an authorized (Ferrari Dealer) shop, which few are because that can be overkill, prices still lag behind a no-stories car. It is just a fact of life with picky buyers.

None of these cars are to be avoided. Each circumstance is different. And cars and owners come in all flavors. But all cards need to be on the table when comparing.

Robb

 

majority of ferrari buyers are very averse to any kind of issue in the cars history no matter how small or inconsequential to the actual usability of the car.

People walk away from deals for resprayed front spoilers or redyed seats or at the very least they like to talk big that they would have bought "x" or "y" but this (little item) was wrong... etc.

Yet there are buyers for everything (down the road) and you just have to ask yourself why you are buying it and if the story matters to you and the enjoyment you will get from experiencing it.

 

There are too many variables. Each situation is specific. Is it a cherry GTS 6sp, low miles, dealer maintained, fresh dealership major, with valve guides and headers and no sign of accident damage? If that's the car, it's worth real money. Or, is it a 48k mile spyder with a broken top, needs a major, and oh by the way, it's been hit? If this is your car, then you know the answer. More likely, it's somewhere in between in which case use common sense. There is no secret formula. You can't assume a 10 or 20 or 30% loss due to a carfax accident. You've got to know a whole lot more than that. Ideally, you'd find an invoice from the repair to really understand the extent of the hit.

 

Do you know what happened/what was repaired?

 

Well it certainly looks great! If its something as minor as you mention I don't think it would greatly influence price. Collision/crunched metal is going to reduce value but not minor cosmetic repairs IMO

 

I would be curious as to the actual Carfax entry ?
I would be more comfortable with someone saying, yes it got hit. Here are the pictures before repair and I have the documents fixing the car and who fixed it. There are owners on here who have done that and they are upfront about it ... Which I respect and makes me feel warm and fuzzy. Having it on the Carfax and then having just "stories" and no documents, pictures or paper showing what was done when .... Just gives me that someone is hiding something feeling.
A PPI might reveal something more solid before you pull the trigger.
The "next" buyer after you will most likely have the same concerns.

 

And as Robb mentioned no set answer.
My guess or thought is 10-30 percent for repairs documented and done properly with a clean title, depending on the amount of damage. I might be convinced to pay full price under certain circumstances. The salvage thing it going to be a BIG hit in my mind, experience from friends/family trying to sell a totaled/salvage title car is not an easy task.

 

I'll give the example two and a half years ago when I sold my 328 and started the search for my F355.

The white F355 Berlinetta in California with accident history on door and qtr panel. Beautiful car. It was repaired by the owner at his body shop. Cars in perfect shape were selling for $60k regularly. This one sold for $48k. He did not have any photos of the work before or after. There are other examples that are similar. I almost bought one involved in another accident. It was also very nice and also priced below other cars without accidents on their carfax.

The OP asked for likely numbers. While it is a crap shoot, we can report what we have seen out there...

An accident car if repaired properly will be a great addition to your ownership, but you will likely pay less because of this and it will sell less in the future after your ownership.

But all boats go up with the rise in tide. So that is good for all in the F355 range.

Robb

 

Whatever a buyer is willing to pay.

 

If you are worried about what you can sell it for before you buy it, you should not buy it. If you really want it, make an offer. You can always increase it if it is rejected.

 

^^^Fixed for you.

How long is the story on the car? For me frame damage or a salvage tag without FULL documentation is a non starter. Everything else...well...

In the airplane word it is similar issue. Some people won't buy a plane with an accident history. My mechanic claims that a plane with a repaired accident event has more inspections and checks than a non accident airplane.

My car has more stories than Dr Suess. So what? It runs better and looks better than a lot of other 355's that are garage queens....and I drive guilt free

 

That's probably the greatest advice you're gonna get Nindia, imho.

Before I saw a wrecked 308 (only good for parts for all intents and purposes) from the Baillon collection sell for 30.000€, I would agree with you. People are willing/able/ready to pay sums that sometimes have nothing to do with the true value of the good listed, good or bad. But yes, in the practical aspect of sealing a deal, being purely pragmatical, you're right. Philosophically, it's more complex than that.

Kind regards,

Nuno.

 

A car such as the 355 is only as good as its overall condition and specifically its mechanical condition. This is regardless of number of owners, stories, and carfax reports imo. Bickering over stories is all nonsense if the car is solid. The market may see it otherwise, but I live in realville where paying $65k for a really nice no stories B that needs a guide job is going to have the same repair bill as a $45k B that needs a guide job.

 

If I were selling the car, I'd tell you that if you can't tell it's been fixed, why do you care it's been fixed? As a buyer I'd try to use it as leverage, of course, but at the same time if it's the car I wanted I would be prepared to pay within a percent or two of a no story car for the fact that if you can't tell, it has no material influence on the enjoyment of the car. Also, you don't have to go find another identical car without a story, which can take months (or years) with these cars. A bird in the hand and all that.

 

I think it depends on the story and who is telling it.

 

A car sits in a museum or it's driven.

How many 20 year old cars that drive have no incidents or need paint to be perfect.

How many 250's you see that have never had damage. splitting cross hairs is absurd and only for your ego.

 

I agree, it really depends how big the story is and why your buying it. Buyers are often paranoid about every detail when buying one of these cars. My 97 Spider shows a minor accident on carfax. That has dropped the value and makes it harder to sell, but my car is right. All the issues with these cars that need addressed has been. good valve guides,no sticky parts, dash is tight, top converted to manual...only thing that hasnt been done is headers but it doesnt need them right now. You cannot tell it was ever in a accident and everything on the car works like its supposed to. I could jump in it today for a 1000 mile trip with no worries

I bought my car to drive and thats what i do. its common to take off with my wife and drive 800 miles on a weekend and not worry about depreciation. With 40k on it not sure I would sell it for less than 55k because if I buy another one it might not be as good....you can buy a lower millage one for 60k and might be wishing in a year you had bought one like mine ...

 

Thats true on any purchase.

However, on a future sale after sorting, a non-storyied sorted car will be an exponentially better value than "lipstick on a pig".

I believe the OP's first concern is price and did not care about mileage.

So, find the cheapest car, sort it then drive it.

In the end they still are not the same car.

 

You guys are nuts. Calling a car that was in a fender bender "Lipstick on a pig" is pretty laughable.

 

You lost me on this one Eric.... please explain

 

This! +355

Kind regards,

Nuno.