Lusso Values

I have been looking, they will get lower and lower. As soon as customers get their Pista's they will be trading in the Lusso.

 

I think the vast majority of Lusso's for sale at Ferrari dealers are for sale via consignment. That is why you will see pricing all over the board.

If I were you I would find the perfect preowned Lusso for you and then offer what you think it is worth. Hopefully, it is accepted but if not go on to the next one. And yes the longer you wait the price should continue to drop just like nearly any other used car. You just need to decide if you really want to get into one sooner rather than later. Have you considered a FF?

 

There is no way this is correct. Modern cars depreciate and these will continue to depreciate. I think eventually these will settle at a bit of a premium to FFs. (15%?) So if you take a look at where FFs are, this is where Lussos are going.

 

Definitely not. Look at the FF. It’ll go further down

 

I've followed 2+2's since the 365 GTC/4 of the early 70's, and I can tell you this is laughably inaccurate. They will depreciate for several more years, becoming one of the best deals you can get in a used Ferrari, just like all 2+2's have ever done. If you want a great deal now, look into an FF, and that is also exactly where the Lusso is headed, price wise.

Who are, "all the sales guys" BTW, and where do they work? I'd like to know because I believe they are intentionally misleading you.

 

None of the Lussos listed on Autotrader even have 10K miles, and many are being sold with just delivery miles, or joyride miles. Meanwhile, FF's look like this, highest and lowest:
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Plus, there are three pages of Lussos for sale. That's a glut, and probably the result of Ferrari dealers requiring a Lusso to get in line for a Pista or the like. I assure you, the Lussos will go down a lot more. This has happened with every 2+2 model since the GTC/4 with exactly no exceptions. It's just a matter of how much depreciation you're willing to live with. And wait until the Lusso is discontinued; that will be the end of the platform, and they will sink or swim depending on what replaces them. If the Lusso is the last V12 2+2, then maybe they will depreciate less or more slowly, but if the "elegant GT" 2+2 that has been talked about comes with a V12, they will drop like a rock. Then there's the "FUV" - which will be a V8, not a V12 - but if it is super popular, that will put more downward pressure on the Lusso.

It's your money and your decision. I'm a bottom feeder and I look for the bottom of the depreciation curve, but that's because I have to in order to be able to afford them.

My first Ferrari was a 2+2, and it was not controversial, styling wise, like the FF and Lusso are, it was drop dead beautiful.

It had a $237K sticker and was $75K in early 2012 with only 7K miles. Plus, one of only two Rosso Corsa M's in North America. Lussos should get to the same percentage of depreciation.

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Of course they would say it, they are sales people after all....

 

There are only 14 V12 Lussos for sale in the UK and 27 V8s. the cheapest V12 is around 200k with 15,000 mls and is over 2 years old. The car cost 275k new so a 26% drop in over 2 years.

Whereas the cheapest V8 is 195k with 10,000 mls and is just over a year old and cost over 255k new so 24% drop in 15 months. Meaning the used V12 is rarer than the V8 and is holding up much better in value.

I have no idea what is going on in the USA but in the UK and Europe the FF has definitely bottomed out at around 45% of new cost (high milage press hacks are the exception of course plus some very high milers) and the Lusso V12 in the right colour combo is very much in demand with a predicted value after 3 years of no more than -35%. To me that is exceptional for the type of car proving how reliable and trouble free (in the main) modern Ferraris are plus the new breed coming out will be a lot more expensive than the current offerings.
To use the depreciation of the 465 and the 612 as a bench mark for the FF and Lusso is crazy because extendable warranties and 7 year servicing makes the digital era a totally different kettle of fish to the unpredictable wallet wrenching ownership experience of the back catalogue.

Mind you I can see the benefit of talking down the values if you are a habitual bottom feeder but don't hold your breath too long, you might miss the right one at the right price then all you will be left with is the high mileage press hacks or the dodgy spec turkeys.

 

Just looking at RHD cars gives me a headache , so I have less than no interest at all in the UK market, but I've heard every rationalization about 2+2's that you can imagine over the past many years. When the 456 came out, it was so much more beautiful than the 400/412 - "It looks like a modern Daytona!" - that it could never possibly depreciate as much. It was so much more modern and reliable, it was so much faster and more powerful. Right:
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Other than the M manuals, there is no premium on any of them (And those have gone from about $140K to $120K in the last five years), and they've been at this level since I bought mine in 2012. That's seven years at the bottom, and there's no sign that anyone has much interest in them at all anymore.

The 612 has been buoyed by the fact that the FF/Lusso is so funky looking and a lot of people who want 2+2's have zero interest in a Ferrari Hot Hatch (I'm still considering an FF, if I can find the right one in yellow, but I'll probably end up with a yellow 612 to join my yellow 360 manual). But it had the same boosters; it has the same engine as the 575M, it's a front-mid engine design, new chassis with aluminum subframe, more modern and reliable, the technology, &c. But still:
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And that's on significantly higher sticker prices than for the 456M's. I've been looking for a 612 for almost three years now, and some of the same cars have been for sale most of that time without moving. Not much interest there either, and I see nothing that will increase interest in them. I predict the bottom for them within the next two or three years.

Maybe you're lucky to be in the UK and there are factors I'm not aware of that will keep prices higher there, but not here. New tech hasn't kept 2+2 prices higher before, and it won't now. Ferrari will eventually stop offering warranties on them, and then they'll be cheap. Compared to the original sticker prices of circa $400K, FF's already are cheap at circa $140K for a 2012. They are awesome cars, they are an amazing value, and that's why I'm considering one, because I'm certainly not turned on by the looks.

Wait until the FF/Lusso platform is retired. That's when you'll see the real truth. They are still current cars, but not for much longer.

I've not seen a single Lusso T for sale here on the used market, BTW, but I haven't really been looking at them... yet.

Going back to the 365 GTC/4 2+2, you can score one of those super rare cars for about $200K. Compare that to the much more common 365 GTB Daytona at over $500K. It has always been that way between 2+2's and two-seaters, and I think it always will be that way. There's nothing so special about the FF/Lusso that will save them from the same fate, IMHO.

 

I have been on the hunt for a used FF or Lusso V12 for a few months in the UK. The last one I saw was a decently specced black 2018 with glass roof etc asking 200k-ish with only 1000 or so miles. That's 30% down out of the gates, The seller was willing to consider 10% below the ask, really we are talking closer to 40%. I decided to look for older/higher miles because there's more to come. Car still advertised on p*****heads..

I have yet to hear an argument why the Lusso V12 won't follow the same depreciation path as the FF or worse. Then there the are Lussos bought to facilitate other purchases like Pista, though those are more likely to be V8. A great car, but looks set to take a bath in the secondary market all the same.

 

Of course it will depreciate, just like 90% of other Ferraris. It's a lot of a car at $250-$270k. Just do it and enjoy if it's not a strain on your financial health.

I don't understand how I put over 10,000 miles on it in 9 months of ownership. Never thought it can be done to a Ferrari but I have no intention to slow down.

 

These threads always make me laugh.....the cars continue to depreciate.....and people continue to watch them and think to try and time it.....but you can't.....unless you wait a few more years you will bear a lot of the depreciation....and miss out on a ton of fun.....

I bought my Lusso when it was a year old for $295K ($380K MSRP).....I accepted the fact as soon as I drove it off the lot I'll likely own it for 5 year and the car will depreciate considerably....It could cost me $40K a year or so in value.....I will rack the miles up and enjoy every one of them.....

 

Here in Canada only 4 V12 Lusso's across the entire country and the last LussoT to go on sale was very aggressively priced and sold in a few days. The 12s mostly are consignment and are priced high in my humble opinion so they will stagnate. My V12 sold very quickly, right time place, options, and buyer. However like some said there is room for them to drop. As per the LussoT I predict it will the rarest version of any Ferrari to ever be sold in Canada (minus the super cars limited cars) - depending on how you look at that its either good or bad Mind you I am still waiting for a January build to go 10R and we are already pretty much into March. Now discussing depreciation, I think my 488 is going to take a beating this year. There area many for sale it will have to be a combination of many things to move it if and when I decide to.

 

Missing out on a ton of fun is a bit of a stretch.

Guy 1 buys car in year 1, year 6, and year 11.
Guy 2 buys car in year 3, year 8, and year 13.

They will both drive the same cars for the same amount of time, just one guy will experience the new model sooner. And Guy 2's patience will be very well rewarded with what he buys with all the money he saved by just waiting a little bit longer to start buying his first car.

 

Arhh I get it now, sorry for completely missing the point....................and there was me thinking it was all about enjoying the car as soon as you can and as often as you can.

To some (me included) the sheer joy and excitement of speccing your very own work of art knowing that world wide you are going to be part of a very exclusive group of very fortunate people who either via hard work or good fortune have the luxury of choice and accept it is worth every cent of the entry fee. Depreciation is a fact of life but no where as scary as Alimony.

 

I expect that the prices of FF and GTC4 will drop more as soon as the new Purosangue will be deliverable, as more Lusso drivers might jump the 'boat'.

 

For myself a 4 door SUV/ Crossover with a turbo engine is of zero interest when compared to the V12 Lusso.....

 

True, but the other thing to consider is that life is short and unpredictable. At some point you have to factor that in.


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I think the main diff is that in the US, anything >10k miles is high mileage in the Ferrari market. And really, the point of the FF is to drive it. I love the car, but it's not a Ferrari you would buy to show or just look at in the garage. So that reduces the demand.

 

yeh thats downright absurd and fake news. with wholesale in the low 200s for 2017s there's another 100k of downside from here at least.

 

FF/Lusso are built to be regularly driven. By the time they are three years old they will have a few miles on them.
Its odd. I could buy a 488 and just drive it round London posing at low speed on short journeys, (kerbing the wheels, damaging the suspension raking the underside against speed humps)but put on very few miles and that "low mileage" car would loose less that i do for the "high mileage" my car will accrue loping along at 85 mph on my 300 mile highway trips.