Wanted Looking to buy first Ferrari! 599 GTB, F430 Spider, FF, 612, 360 Spider

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i think your prices are pre covid. asking prices are crazy now. i would wait for soon to come market correction. ive been looking at 458 spiders and they went from 185 to 250 last few yrs. crazy.

 

" I am looking for a "high" mileage driver that shines up nice, and may need a little sorting, but has the major stuff covered. So please don't be offended by what I put, but if you have something I may be interested in, let me know!"

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No update from the OP with just 2 posts to his name in eight months?
I think we've been trolled.

 

He's rite tho, I been watching closely as I'm looking for a 430. Higher priced cars are not moving

 

Damn he cooked it full send after 9 months

To the OP - did you get helpful leads/PM’s out of this? Serious question. I’m entering the market for similar cars and have been debating if/how I want to post a WTB since I’m also looking for a driver.

 

Yes.

 

Well, it's been over a year since the last FF sold on BaT and most seem to have sold more around $120k or so.

A year can be like an eternity in this market so maybe start the investigation with that?

 

Thanks. I think $150k for the right FF is a healthy budget. They do seem to have bottomed out and risen a bit, but it's hard to tell if that's this bananas car market or if the demand is really there. A 456 is at the top of my list, the 612 is not, so I get that better than most. 550 and 599 seat 2, but many of your others seat 4. I'd prefer a 12c over a 430 as well.

In my opinion, pay no attention to the people saying you'll regret waiting a year. Find the right car. You might pay more, but I've been looking on-and-off for a 456 for close to 2 years now. Yeah they've increased considerably since late 2020, I might have to pay double, but it will be the right car and honestly a lot of the cars fetching these sorts of $90-110k prices are much more sorted out than a lot of the trash that was on the bargain market in 2020 at $45-55k. Sorted cars were $75k back then too, there was just a lot more bottom of the barrel stuff to compare it to and drivable bargains are largely gone from the market. They just don't exist.

And separately, pressure is starting to mount on sellers. Interest rates going from 4% to 8% on exotic loans has added 15% to 6-year payments at a time when people's stock portfolios are down 15% minimum and the price of cars is up 15% from a year ago. Buyers' patience is getting stretched pretty thin, and it's pretty visible when you look at sell-through rates. The big auctions are down from 85-90% last year to the 70's this year. Sothebys had one auction that was 59% sell through. BAT is down from the high 90's (totally absurd) to closer to 80%. The clouds are on the horizon, just a question of when the storm hits. Someone is gonna get stuck holding the bag, and if dealers keep bidding these cars up, a whole bunch of them won't exist in 4 years.

 

I bought a 2014 McLaren 12C spider and a 2006 F430 spider within a span of about an hour a few years ago. (Long story). I kept and drove them both for a few months to decide which to keep. It wasn’t even close. I sold the Ferrari and still have the McLaren.

 

Interesting; I didn’t know that exotic loans had reset that much.
So you’re saying that people with existing loans will keep them,and are ok not selling -but buyers will be financing at a premium.
That could make for a limited transaction environment ultimately pushing prices down. I agree overall,wait and see is best to find the right exotic.

 

(BTW I am in the market for a non red/tan, non yellow 430 spider)

 

How about a Grigio Silverstone F430 Coupe?

 

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I’m not sure they’re there yet, but they were quoting about 6.5% in late March or early April (last time I really sought out a rate) and I’ve seen 7.25% kicked around in ads and stuff since then. I’m a cash buyer but was basically like “if they’ll give me the money for free I might as well take it,” but not as much anymore. So I am limiting my spending to cash price only and not a 50/50 cash/finance where I could maybe go another 20% above my cash budget.

I think the people who bought in late 2020 / early 2021 will probably hold the cars because prices were up but the rate is practically nothing. The people who bought 2021 up through Jan / Feb this year we will see. There were A LOT of dealers who spent a lot of money at retail prices last year and they can’t just dry dock everything and close up shop for a while. For people who financed a dream car, they’ll hold no matter what. For people who bought the hype of “it’s a gated manual, it will never be worth less than this” and invested in it, we’ll see if they’re in for a rude awakening.