456 price trends | Page 15 | FerrariChat

456 price trends

Discussion in '456/550/575' started by ross, Jan 26, 2020.

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  1. yudkib

    yudkib Formula Junior

    Jan 14, 2020
    349
    Get a PPI. Make sure it hasn’t been sitting. I’ve been in discussions about a high mileage car - the mileage doesn’t scare me, either it will pass a compression check or it won’t - but it’s been sitting for several years. That scares me more. If you decide to pass on the car, let me know what you have on it. I’d prefer higher miles for my first FCar as long as the rest of the stories check out.
     
  2. yudkib

    yudkib Formula Junior

    Jan 14, 2020
    349
    The one I’m looking at is over 190k. I’ve heard it’s not uncommon for 456’s and 550’s to be in the 200-300km range in Europe because people bought them for touring cars and that’s how they’ve been used.
     
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  3. Jaredsalinsky

    Jaredsalinsky Formula Junior
    Rossa Subscribed

    Feb 8, 2023
    383
    tampa FL
    Full Name:
    Jared salinsky
    Hello Fchat people. I’m in agreement that 456 prices are up quite a bit, especially the manuals. I just purchased a ‘95 GT for 90k, and I’m comfortable having overplayed by what I deem to be about 5-10%. It has 84k miles, and a 7 owner car; It was on BaT a few years back and sold for 50k I believe. It has, however, a very well documented history, and all the right things have been done: leather redone, top end rebuild with valve guides done in ‘17 (with good BaT pics from PO), straight pipes, switches all work, new conti tires and new battery, accumulators checked, and AC works. I should take delivery in the next week or so. Looking forward to getting to know the 456 community well! Of my 14 cars this my first Ferrari, and I’m super stoked. I definitely like the subtle sleeper type cars more so than the lambo convertible flash type stuff. I’m a sucker for grey/tan…
    (Sorry bout crappy pics)
    Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
     
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  4. Aerosurfer

    Aerosurfer Formula 3
    Silver Subscribed

    Nov 21, 2020
    1,240
    Indianapolis
    Full Name:
    Nick
    Looks like you got a great car that you can enjoy guilt free in any way you choose. That owner who did the work was active here a few year ago. Seems like quality care went into it previously.

    Look forward to your adventures
     
  5. Mirek

    Mirek Formula 3
    Silver Subscribed

    Oct 20, 2019
    1,244
    Los Angeles, CA
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    Mirek
    That is a NICE spec. People will just fall over themselves to let you know they like it. You will see.
    Wow. Does it have a Tubi exhaust ? Pipes look shorter.
     
  6. Condor Man

    Condor Man F1 Rookie
    Rossa Subscribed

    Sep 8, 2006
    4,843
    Los Angeles

    6 Years ago it sold on BAT - https://bringatrailer.com/listing/1995-ferrari-456-gt-2/

    Looks like it was well maintained!
     
  7. Jaredsalinsky

    Jaredsalinsky Formula Junior
    Rossa Subscribed

    Feb 8, 2023
    383
    tampa FL
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    Jared salinsky
    No Tubi- just straight pipes with resonator removed.
    You know I never thought to look on Fchat to see if that PO from BaT was active! I can probably go back and find some threads to see what he was thinking. I’m a BaT addict, but the one thing I would add is allowing followers to connect with other followers- in this I would connect with that PO and find out a little more about what he did and why he did certain stuff yaddah yaddah.
    Forgot to mention I’m pretty sure windows were done, and the rad fan bypass too!
    Can’t wait!
     
    Aerosurfer likes this.
  8. Aerosurfer

    Aerosurfer Formula 3
    Silver Subscribed

    Nov 21, 2020
    1,240
    Indianapolis
    Full Name:
    Nick
    So where will it be located now
     
  9. carguy246

    carguy246 Formula 3
    Silver Subscribed

    Nov 8, 2006
    1,170
    Maryland
    I remember that car. Same color scheme (and mileage as mine). The quality and amount of work performed by the previous owner is impressive. Great car. Enjoy!
     
  10. Jaredsalinsky

    Jaredsalinsky Formula Junior
    Rossa Subscribed

    Feb 8, 2023
    383
    tampa FL
    Full Name:
    Jared salinsky
    will now be located in tampa, FL (I prob should update my profile so location etc is reflected)
     
  11. yudkib

    yudkib Formula Junior

    Jan 14, 2020
    349
    Congrats on the purchase. I was planning to look at the car over Easter weekend if it was still there since I had to go to Long Island anyways. I thought the ask was a little ambitious for the mileage and was surprised it sold as quickly as it did. It was WONDERFULLY well presented though. The thing that was weird to me was it was a US spec car that spent time in Canada and apparently had the passenger airbag removed? I thought that was strange. But never got the chance to ask about it. I was planning to go with an offer in the low 70's with room if they accommodated a PPI and the airbag work was not going to create an issue for me (or the car). So agree with your assessment on price, but from the presentation you picked a great one to take the gamble on. Enjoy!
     
  12. Jaredsalinsky

    Jaredsalinsky Formula Junior
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    Feb 8, 2023
    383
    tampa FL
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    Jared salinsky
    @yudkib yes I had considered going in with the low offer, especially since I found out the car was purchased just 2 or 3 years prior for around 60k. But in the end the market is what it is; meaning, since Covid prices of certain cars has shot up, and although the miles and owners threw me a little I can see owning this car for a while. Also this car's history is fairly amazing!
    The airbag was removed when the PO re-leathered the dash. (I love the no-air bag dash!). Now, I'd love to add the European 'no airbag' steering wheel, but I think it will be a bit cost prohibitive.
    I did do a PPI and it came out pretty clean with only a few negative items, which the seller is fixing including fixing the door locks, new tires and battery, and a few other check items.
    I actually have a lot of 'feelers' in Europe (let me know if you need a contact for European cars- there's a really good guy I've been using) and I've looked at no less than 20 cars over the last 6 months including doing a PPI in Europe on one of them. And while I think I could have saved maybe 10 or 15K on price I would spend probably 6k getting it back the USA.
    Fingers crossed...I hope its the car I anticipate...
     
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  13. yudkib

    yudkib Formula Junior

    Jan 14, 2020
    349
    @Jaredsalinsky I think it will be. That area of Long Island has a lot of high end dealerships and the ones who are peddling garbage wouldn't be able to make a living. I'll PM you since I suspect we're in similar situations. Or at least, we *were* in similar situations.
     
  14. Ferrari55whoa

    Ferrari55whoa F1 Rookie
    Owner Rossa Subscribed

    Dec 21, 2005
    2,593
    Los Gatos, CA
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    Eric
    This kind of sharing is what makes this
    subforum and the platform generally “value add”.

    Thank you for sharing, welcome and we will enjoy hearing more as you build time with the car.

    Lot of great people here sharing and adding to the ownership experience.
     
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  15. JAS12

    JAS12 Karting
    Silver Subscribed

    Mar 30, 2013
    122
    New England
    Full Name:
    JAS
    The car runs and drives great. The owner cannot locate the paperwork but is still searching for it. The mechanic that took care of the car is an old timer as well but only works on Italian cars. Timing belt was done approximately 2 years ago. It needs some typical items like the dash leather is shrinking, the window buttons on the door are popping out. There are some items the seller had on his list to do like the power seats aren’t working, the headlights only pop up when they want to, the rear spoiler is temperamental, the front ash tray cove won’t stay closed, etc. but overall it drives really well. I think I can pick it up for around $55k as that is what the dealer offered. I was trying to get a PPI done but there just isn’t time as they may sell the car he wants to trade it in for. I am not too worried about the high mileage just hate to buy it and dump another large chunk of cash into it when I could just spend the extra money now and get something ready to go. Although with the prices I have been seeing north of $100k for a 6-speed I would need to spend double (another $55k) and don’t think the car needs anywhere near that as it needs mostly cosmetic items. I and going to have a friend do a compression test tomorrow and wondering what peoples thoughts are if it checks out.
     
  16. Jaredsalinsky

    Jaredsalinsky Formula Junior
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    Feb 8, 2023
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    Jared salinsky
    you know I’ve pondered situations like this many times. Definitely you will need a PPI with that many miles. I would certainly get compression test but let’s assume that the compression test does well and the engine is in fact in good shape. True that the rest of the stuff that needs to be fixed is cosmetic and most of it you could probably do yourself or with an indi shop. But don’t make the mistake of thinking it won’t be a lot of money – it will always be more than you think. I’m not saying you’ll put another $55,000 into it but you will certainly put another 30 to $40,000 into it to make it all proper and correct.
    Balance that with the fact that if you love the vehicle and you can afford it then why not just do it? Also, they are not making any more manual V 12 Ferraris…
     
  17. Aerosurfer

    Aerosurfer Formula 3
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    Nov 21, 2020
    1,240
    Indianapolis
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    Nick
    What he said above... it wont be necessarily be cheap to correct everything, but if the essentials come back good, go for it.

    The big price delta becomes how much are you planning to do yourself vs having someone else do? I see estimates in the high 4 and 5 figure ranges for repairs get thrown around and while it easily can escalate, much of which can be mitigated if you are a DIY and a patient one for part hunting. At that mileage, hopefully you plan to drive and enjoy it guilt free, and pace out repairs. I have been pleasantly surprised how borh how many high mileage Ferraris are out there, as well as how widespread the Owner/Operators are of this vintage

    If you plan to drop off a car and write a blank check for *fix it all now* repairs, then sure, plan on 25k right off the bat getting things right.

    Plenty of part recyclers out there, as nothing seems to go to waste on these cars. Both Stateside and in Europe. Have had great luck with them. Actually one place Ebay still has a descent selection of.. used 456 parts. Headlight/spoiler motors can be rebuilt, much tougher to find new or used.
    Many/most everything thats electrical Bosch has an equivalent part number that seems to be used on various German/Swedish cars. The part cross reference thread is great for this.
    Fuseboards can be had or rebuilt which can cut right to the chase of not fighting electrical gremlins. **shameless plug** for my new electrical fan harness bypassing the fuseboard and taking the high draw from the battery.

    Leather and cosmetics... well then your options get fewer and its not as cheap to do it right... Its all about who you know.

    I have come to the opinion these cars are expensive to break, but reasonable to maintain with proper planning and shopping. Elsewhere said... plan $100/mo and every 4-6 write the check for needed expenses.

    Hope the engine comes back with a good bill of health
     
  18. yudkib

    yudkib Formula Junior

    Jan 14, 2020
    349
    $55k is too much. The high-mile car I am contemplating was bid to $40k recently in a local auction. It was previously bid to $47,500 at a reputable outfit last year. It did not sell either time. Just as a point of reference for what the market thinks of an underdocumented, high-mileage car. With a laundry list that long already, $55k in work seems like a safe bet since you haven't even looked at the suspension and there's ALWAYS something needed there. If there's no documentation, assume it wasn't done, so I would budget for a major and cam seals.

    Speaking personally, unless you are absolutely in love with something about THIS car, I would keep looking if it's $55k or bust. Having said that, I've been saying that to myself for 3 years now, and do not yet have one personally.
     
  19. carguy246

    carguy246 Formula 3
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    Nov 8, 2006
    1,170
    Maryland
    Well some of these items are pretty minor. Not sure what is broken on the window buttons, probably the plastic frame, which I think is still available.

    Depending on how bad the dash leather is, you might be able to remove it and re-glue it. I wouldn't spend a ton of money correcting cosmetics on a car with 168k miles as it is likely money you won't get back.

    The is a fuse in the seat located under the front of the seat, so it might just be the fuses on the seats are blown, but the seats are pretty complicated so it could easily be something more expensive

    The clips that usually fix the ashtray are not expensive.

    Headlights are difficult as I don't think the motors are available so you'd have to repair them, have them repaired etc. Same with the spoiler, which is not uncommon. The spoiler isn't crucial, but the headlights obliviously are if you plan on driving at night.

    Overall, I would be a little surprised that a dealer is offering him $55k given how high the miles are and that high mileage f-cars aren't always easy to sell (mine has over 80k and that is generally considered pretty high miles), but maybe the dealer isn't familiar with Ferraris. In any event, I don't necessarily think that $55k is too much for the car, but in the long run you are probably better off paying $80k or even $90k and getting a car with say 40-50k miles. If the engine and transmission are good and you can do everything else yourself, then you'll probably be fine, but if you are planning to pay an independent shop to do everything, then you are probably better off paying more up front.

    Just my 2 cents. Good luck.
     
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  20. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    37,985
    Clarksville, Tennessee
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    Terry H Phillips
    At some point, you have to jump in and enjoy owning a V12. Maybe not perfect, maybe not exactly the interior and exterior color you like, but in the meantime, you are driving, fixing, and enjoying her. Hopefully without too much of the fixing part.
     
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  21. DrDweeb

    DrDweeb Karting

    Nov 30, 2013
    128
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  22. yudkib

    yudkib Formula Junior

    Jan 14, 2020
    349
    Is that the one that was in upstate ny?
     
  23. Jaredsalinsky

    Jaredsalinsky Formula Junior
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    Feb 8, 2023
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    tampa FL
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    Jared salinsky
    I don’t think it’s the same one. Although it may be. I had a PPI done on that one in upstate New York, and it was horrifying. There were leaks, windows didn’t work, AC had issues, leather issues. The list went on. The guy that did the PPI for me was horrified by what he saw. I actually had a deposit on it when the car was being sold for 79K. Then they upped it to like 115 K and I just couldn’t believe it. But the market is what the market is.
     
  24. Jaredsalinsky

    Jaredsalinsky Formula Junior
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    Feb 8, 2023
    383
    tampa FL
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    Jared salinsky
    you know...come to think of it... it may be the same one, since I remember the miles being about the same. Hope the new owner got a good price, or I hope the PPI I ordered was grossly over-scrutinizing. On the other hand, if it does need work, then when its done it will be nice to see another perfected 456 on the road. Good luck to the new owner!
     
  25. Ferrari55whoa

    Ferrari55whoa F1 Rookie
    Owner Rossa Subscribed

    Dec 21, 2005
    2,593
    Los Gatos, CA
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    Eric
    The “market is what the market is”….more true words haven’t been uttered. SO MANY very wealthy dudes throwing it around like crazy….todays BaT euro 550 was surprising.
     
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