Is the 488 depreciating faster than expected?

It also seems the 488 is a bit of a transitional model as well.

 

And I don’t know if that has always been the plan or if competition made them accelerate their plans to introduce a facelift sooner than they wanted.

 

Yeah I’ve thought about this as well. The platform of the 458/488 is so good it’s seems they wanted to see how long they could use it and then toward its end throw a TTV8 in it to get focus on the new engine before taking it to the next level with new platform and new TTV8.

 

Just the opposite. The face lift was a way to buy them more time. The new platform version of the 488 was delayed after the earlier introduction of the Portofino. Mostly likely the new drive train had not progressed as quickly as had been planned and the new body design was not different enough from the 488 then. McLaren by comparison jumped two generations with the introduction of their 720s. The design changes demanded pushed back the 488 replacement introduction time line. They also may have gotten cold feet about a 6 cylinder replacement for the current 488 TT V8. The 488 was their bread and butter model and there is now a huge price gap in their model line up with the expected price tag for the 'big brother' model.

 

Hard to believe that Ferrari who have had a brand series intro model V8 mid-engine sports car since 1976 would abandon that market segment after the 488 face lift stops production. Perhaps that no intro V8 marketing change by Ferrari will reverse the depreciation of the current 458 and 488 models.

 

My guess is that the 488 is depreciating at a greater rate than the 458 did and will continue to do so for a few years. Not because it’s an inferior car but due to:

1) Market conditions, especially in the US were markets were strong in the economic recovery period of 2011-2016. Starting in 2017 the economy, while still healthy was viewed as mature and due for a recession (Germany has been flirting with a technical recession for a couple of quarter). The recent US stock market correction may have also reduced demand for 488’s and stimulated resales. Look at how the classic car markets have behaved during this period. 2014-16 auctions broke records. Since then, the market has softened.

2) Competition is much more in the recent past than when 458 was in production. Lambo, Mac and Porsche are all making much better cars the past few years than during 458 production.

3) Shorter production run of the 488, 3+ yrs, vs. 458 5 yrs. The next model is appearing much faster, stimulating 488 resales.

4) Perceived 488 negatives vs. 458, the 458 had tremendous acclaim upon release and the 488 had perceived drawbacks with turbo lag, sound and dated interior.

 

What ? My 488 is depreciating? This is outrageous ! Must be a conspiracy.

 

It’s a right and left wing conspiracy to end all petrol cars as we know them!


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turbo lag? LOL! That's non-existent. The more I enjoy the car by driving it the more it depreciates. I wouldn't buy a car and let it sit in the garage. If that is what I was doing then I might care about depreciation but I bought the car to enjoy it and I do. I like it better than any car I have owned yet.

 

Why even start this conversation? Who really cares? I bought my 488 Spider 8 months ago. I spent an extra $20k on upgrades. Every time I take my car out, I feel it's worth every cent. I Always get compliments.
Why are all you other Ferrari owners so concerned about value ? Either you can well afford to buy one, or you can't.. If it goes down in value, who cares?? Buy it, drive it, enjoy it, buy another one when the new version comes out. If you are concerned about resale value, then rather put your money into real estate..

 

Do you guys think Ferrari going public is also driving further depreciation of their mass produced cars?

As Ferrari is now just another public company that only cares about the next quarter profits and is at he mercy of their shareholders.

 

That's a great idea, real estate has never lost value has it?

 

It's all timing

 

Sure is That's why I drive a 488 GTB

 

488 must be a big deal in Australia? They are going for $220K's here in US. Not in high demand.

 

I replied to the comment about money in real estate. Up to late 2017 houses basically doubled in 4 years. Houses can buy cars .

Only 10 years ago a Ferrari was a house. Now a Ferrari is if your lucky half a house.

BTW the 488 GTB was 600 k no carbon.

Population is only 24 million and allocation is low so depreciation is lower , but that's Ferrari. Mac whole different story.

 

LOL

 

It's mind blowing how much money you guys pay for exotics.

 

It is, but ask me what our company pays in bandwidth and office space in Sydney and you start to realize everything there is almost double in price compared to Toronto (which ain’t cheap to begin with). A GTB here is 300k starting...

 

If you are afraid of depreciation you'd better stay away from supercars

 

I think my car is worth less now than when i posted 2 days ago in this thread .

 

Yes, but if you had spent your time driving the car instead of posting and lamenting about the depreciation, you probably would have at least recouped some of those losses with the enjoyment of being behind the wheel of a 488.

 

I'm using my 488 the most I can. I think around 6.000 miles a year. But every single euro I will loose because of this will be very well spent

 

Yup, I'll drive mine 6,000 a year as well, and "smile every mile." Someday, if/when I decide to stop driving it, I'll evaluate the market, and if I find it unacceptable, I'll sell sledgehammer shots at a country fair for $10 a piece......how's that for not caring about depreciation.

Jim