Is the 488 depreciating faster than expected?

It will also depend on price and "availability" of the F8; at current levels the used 488 are already very good value for money so while they will continue to depreciate I don't see any reason for a free fall.
Besides, the F8 does not have exactly the Pista engine.
I also think these talks about the 488 prices a little biased - now you can get a used 458 for what, 40 to 45% less than a used 488 while when introduced the 488 cost only 5% more than the 458... of course at this price you get an older 458, but over time it's just logical that the 488 will reach similar price levels.

 

If you think the 488 is depreciating fast, wait till you see the F8 in about a year from now when the 488 replacement is revealed. This may be the first mid-engine V8 Ferrari that will fail to sell over list in the used market.

 

I'm confused...the F8 is the 488 replacement....

 

yes thats what i thought

 

No, it's just a temporary refresh that will last less than 2 years most likely. Kinda like the new Huracan Evo -- new looks, increased output, but still a Huracan and likely won't last another 5 years.

Somehow Ferrari got themselves into a position where they needed this refresh whereas they never had one before. The 488 is barely 3 years old and normally it would have lasted more like 5+. Dunno why it happened. Maybe competition was heating up too much, maybe the new flagship messed with their usual plans.

Hard to say. I really don't think the F8 makes sense from a product standpoint. I see no reason why they couldn't just keep selling the Pista and Pista Spider for the next 1.5 years.

 

and this is why im done with new cars...

 

Pista and Pista spider are on a different market pricewise; Ferrari probably needed some kind of answer for people going to buy a Mc 720S.
The F8 will not be outperformed like the 488 was compared to the 720S, so it will be in a better competitive position (even if it's still outperformed).

 

Interestingly Porsche still seems to be immune to this with their GT cars. While prices have come down on the GT3 and GT3 RS, they still trade around or above MSRP even with a couple thousand miles. You would think the proliferation of supercar options would have also impacted that market too, but the only thing even putting pressure on it is the fact that they made thousands of those cars, and they're still surprisingly pricey for used options.

I had planned on keeping my 488 for 4-5 years simply because I only drive on back roads and not the track, so a "new version" likely wouldn't be noticeable to me. The F8 looks pretty cool, but I'm one of the few (based on the 488 Replacement thread) who thinks the 488 looks great, so I won't overly sweat the depreciation hit. It has to be impacted though, as the 458 probably gets a "last NA" small bump and nothing really (positively) distinguishes the 488 from the F8 (other than availability, which we'll see)...

 

I'm in the same shoes that I find the 488 to look amazing/just about perfect but I think we are in the minority

With the Porsche GT cars it's just a completely different ballpark from a price point where you can get into a 991 GT car for 130k, 991.2 GT car for 160-170k all the way up to >400k for the GT2RS. Also they likely don't depreciate as much because from generation to generation it's more evolution than revolution so there is a cult following with demand for most if not all generations of Porsche GT car

So especially for the GT3, which retails at around 150k MSRP/180K fully loaded, there is a much bigger buyer pool for that German scalpel compared to a mid engine V8 Ferrari which can cost upwards of double. And the Ferrari will suffer a bigger depreciation hit, and FWIW has a reputation for being not as reliable/durable which may or may not be true but either way can make potential buyers shy away

And all I can say is bring it on lol can't wait for my 488

 

Yeah no kidding. In trying to compete with McL, Ferrari has reduced themselves to McL's level. It will never be the same again.
Not only does the F8 look like a McL, it will depreciate like one as well.

 

It looks like that may be done with the non-RS models. I'm seeing normal used GT3s going for well under MSRP - I've even seen some new allocations going for MSRP or slightly under. Porsche seemed to have really, really ramped up production with this generation. Maybe it's just overall weakness in the exotic market with so many options now.

Maybe I'm in the minority here, but I'm an exotic owner that can't afford to not think about depreciation. I wish I was wealthy enough to not worry about $50k/year hits but for some people here that's not the case, so these threads are often vital to my car buying decision making.

 

I’d love to see GT3s for well under MSRP — I’m still in the market for a touring with sofas as a daily driver. I read Rennlist every day and haven’t found anything close to a good match of what I would consider value and my desires, and new allocations at MSRP stayed exceedingly rare throughout the build process.

 

Porsche GTs are softening now as well. 2016 991.1 GT3 RSs are 20% below MSRP now and still dropping. I personally think that the depreciation of cars in this range, no matter than brand, drags the entire market down. More buyers seem to cross shop brands and performance value as more buyers have access to lease or buy these cars. The 570s was and is a serious wrench in exotic car values. Its value based proposition, now increased with the used market, pushed expectations up and cost of entry down. 99% of people who see a 570s will think of same "it" factor as a Ferrari or Lamborghini.

I don't think that the ratio of affluent connoisseurs of these brands went up at the same rate as the sheer amount of people who can afford these cars. So while there is a lot more cheap money out there, there are not more specific "car snobs" for lack of a better term.

 

There's a GT3 Touring available at MSRP right now. Used ones are under MSRP (although a few friends have found allocations at slightly under but it requires some searching).

 

As an anecdote, when I was driving a friend's 918 in a convoy with a GT2RS and a 675LT, the 675LT got clearly the most attention and "wow" exclamations. I definitely think that the "lower-end" supercars share the it factor in the eyes of the general public.

 

The high end car market feels like something of a bubble. There's just so many different cars to choose from in today's world.. The used car market is especially robust, with so many lightly used cars out there that have aged pretty well over the past decade. Not only that, but car manufacturers are all increasing production, more and more "special editions" per car model, refreshes coming sooner and sooner in the car model's life cycle. It just feels over-saturated to me. With all these new models coming out with increased production numbers, and so many options on the used market, it's scary to think what might happen if the global economy takes a turn.

 

I agree, it feels kind of the same way for me

Seems like recently more people got involved with these sportscars/supercars to flip and try to make a quick dollar driving up artificial demand vs. enthusiasts wanting to drive and enjoy (especially with the more limited variants becoming the norm/very coveted)

Thankfully/purposefully that is why I only have "play money" that I can afford to lose in my car(s), as I never operate under any sort of assumption when it comes to cars and their values/depreciation/returns..

 

Porsche is pumping out tons of .2 GT models you see lightly used winged GT3's under MSRP, lightly used GT2 RS and 3RS prolly trading at sticker by end of 2019.

Touring still commands premium.

 

******** I miss my Touring!!! Should have never sold it!!!

 

Same here. I am just hoping to have a F12, then I can have all the last pininfarina in my garage. FF, 458, and F12.

 

Lol!! hahahah. it's okay. You know Porsche is going to come up with next "last something". I missed a day with my window for the touring (but the dealer said he could screw it in anyway if I wanted) and I was still able to get the PTS...but I was like screw it at the end because of the price hike... I kind of regretted not getting both too.

 

I’ll buy it used. I’m trying to be good till end of the year and then probably sell my 488 for something else.
One thing about Porsche- nothing rare about them. Plenty of them around and not too difficult to get. But I’m on a self imposed spending moratorium for the time being.

 

In actuality, the Pista and Pista Spider should have been the 488 FL/Replacement. This would have kept the product line running for maybe 2 years until the replacement is finally released.

 

I sold my GT3 Touring with 3,000 miles on the clock back to my dealer. He took a nice profit and I cleared over £20k. I bought a 1 owner very low mileage high spec Giallo Triplo Strato 488 GTB from Ferrari Manchester for not a lot more than I got back for my GT3T so the first owner has taken the big depreciation hit.

Yes, the 488 will continue to drop in price, but I personally feel I have moved from a fast Sports car to a Super car that is on a different level in looks, performance and sense of occasion when I drive it. In the Porsche I could drive it with a few glances (usually due to the Sharkwerks Exhaust noise), but in the Ferrari I am getting thumbs up from children, people taking photos of the car and asking me about the car, colour, engine etc.

For me the 488 is on a different level to the Porsche and every mile puts a smile on my face.