458 Is the 458 market crashing?

A man after my own heart.I raise a glass to increasing milage and the odd stone chip.
See you on the road

 

If I bought a cemetery, people would stop dying...

 

^ Funny

I think the title of the thread is a bit misleading. The video claims the market is “cracking” which I view in a different light than “crashing”- a point already made but worth making again.

I think its entirely reasonable to discuss the values and investment side of this. People work hard for their money- so when you spend it- you want to do so somewhat intelligently. Yes, ultimately what matters is the car.

And what a car.

Not only the last NA V8 but the first of a new generation of Ferraris which appeals to the new generation of buyers. Its also reasonably well made, reasonable cost of maintenance, and gobsmackingly gorgeous and exotic.

Not only do I think 458 values to hold, I think they will continue to appreciate. Its only the rate of appreciation thats in question.


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I don’t see how or why the 458 can drop. Not with 488s and F8s at much higher levels. And yes I can see a 911 type market in the future where the 458 permanently passes the 488 and maybe even the F8. You just can’t use the extra speed on the street and the sound will never be heard again!

 

I bought my 17' Spider for 320k in May. Eeek!

 

Well there is a 7k miler one on BAT…let’s see what she does.

 

A 2013 italia sold recently on BaT for 203k I’m told

 

the 2013 sold for $215 plus $5K BAT fee

 

I think The market for all used cars especially the sports / exotic market has been hyper inflated for the last year and I believe it has started to soften a little . an excellent real time way to see the market is through BAT results.. I have sold several cars trough Bat over the last year or so .. FWIW
However if you like your 458 don't sell it if you want to sell it then this may be a good time but 6 months ago would have been better..

 

A lot of people don't know the dirt about BAT and IMO, those that are selling these 458s @ low numbers, unfortunately need the money. BAT is infamous for not accepting submissions, unless the owners agree to their reserve prices, which are typically lowballed. They want to ensure, that the majority of their listings will sell. So on top of that, this 458 had over 10k, which in "Ferrari Miles", puts it in another price bracket than those under....

 

Excellent point about BaT but most sellers in the past year didn’t car because there was crazy money out there. Now we are seeing RNM on lowish reserves which is telling. And the marginal cars aren’t selling either. And the sellers have not adjusted. Yet.

In general these o see atop a confirm:

1 this guy does the best public analysis out there four wheel trader YouTube
2 many do not feel that they have money to burn or cheap money at least
3 consumer confidence is down
4 the hyper inflated exotic market is cooling.

I drive my cars but the inflated market has decreased my cost of driving and significantly. That let me extend the number of cars. Now I have to reconsider future costs and my budget.

All the comments that the 458 will relatively hold its
Position and value in a globally fluctuating market are true. Absolute prices will decrease for a bit which only matters if you want/need to sell. The fact is there are those among us leveraged and with the pain of the stock market correction and likely economic pain with rising interest rates some will choose and some will have to sell. And the eff it I can buy it because I’m doing we buyer will evaporate.


Just watch.


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