Portofino depreciation

Mods: maybe move to Cali/Porto ?

OP: lots of previous answers & experience in Porto/Cali section - fundamentally no way two tall-ish people one behind the other especially as one is probably still growing

Compare the age of a cheap Cali to that of a Porto - why should a Porto when it gets to that age not be the same value - so yes after five years of course it is likely the Porto will have halved in value

 

They’re all on the fast track to worthless, doubly so once they pass into the hands of owners who can’t or won’t stomach the running costs which don’t depreciate like the cars themselves.

You should only buy one if you intend to use it and consider the money you paid as spent. Front engine, 8 cylinder Ferraris are not the right car for anyone worried or bothered about the depreciation.

 

No person, small or big, with or without legs, fits in the rear seats of the Cali/Porto series for any duration. The owner manual recommends no one over somewhere near 50" tall in the back for roll bar and top safety reasons and modern baby seats don't work in the space. Some people claim happiness with rear seats occupied anyway. Try using a rear seat and reading the owner manual guidance yourself to get your own sense. I never use the rears for people.

Ferraris overall are not recommended for people worried about depreciation. Some periods they don't fall dramatically compared to other car makes. Typically the only brand pretty sure to fall faster in percentage resale value is Aston Martin (maybe also McLaren?).

 

Been in F car ownership for over 30 yrs with two kids ( now flown the nest ) . A school age I had a Testarossa, followed by a 360 F1 .
There was never really any need to carry more than one kid . When we even attended Ferrari owners club annual meets , the wife went with one kid in the Range Rover and the other kid. + myself in the F car .
Occasionally I would pick a kid from school if one was late etc .

If I was you I would drop the 3 pax thingy and simply purchase a 360/430 manual .
You seem spooked by depreciation but if you choose carefully there won’t be any . Go for a red mid engined ( Giallio 2 nd choice) manual .
Avoid the two front engined V8 s . Neither fish nor foul .
Also you say dealer maintenance…..but the Cali + Porto are so full of electrotwackery and reliant on dealer diagnostic software you are leaving yourself very wide open to huge bills over and above a simple lub change .
Then there’s the CCB s ….have you priced even the pads up nether mind the actual disks themselves?
Both have electronic solinoids embedded in the gearbox soaked in oil …..age / time there’s an inevitability to a gearbox repairs .
I say repairs in kindness assuming you find an Indy as the franchised dealers are glorified parts throwers and will only sell you a new box .
Hence the depreciation of both your potential F cars .It’s the repair bills that’s killing them .

Turn the thing on its head once you cross the mental barrier of your kid with wife won’t want to go out with you at the same time .
Buy a analogue well maintained 348 in particular a spider ( 17 left U.K. reg ) they only built just over a 1000 world wide .
There’s more F40 s around.

No need for franchised dealer support relatively simple as a wheel barrow maintenance wise with zero “sword of Damocles “ nasty bills looming .
Bottomed out a decade ago , so on the rise price wise .
Afraid the Cali + Porto will continue to sink and thus shrink your wealth .
If this is of no concern …..you tossed depreciation into the equation remember then go ahead and put by an additional £25 K slush fund which eventually will find its way into the franchised dealers account , over and above what you have given them in routine maintenance.

All Ferrari are great drives but some from a financial aspect are better than others .

edit Porto’s might have some residual of the 7 yr power warranties? That’s a nice warm blanket for a while .

 

UK market definitely different than the States. Californias here have been stable and slightly rising for years. Portofinos still depreciating but very slowly.

Ive been watching closely as Im buying one for Christmas.

 

Good for you to try and learn for yourself about rear seat use. The Porto has a thinner front seat back than Cali T, this gives a bit more rear room.

I still recommend reading the many pages at different places about rear seat occupants. It might be worth considering where a rear passenger head could be located under accident conditions which fire the explosive roll bars. I won't allow any of my family to be at that risk.

 

I run a Bertone GT4 too . It’s appreciating btw . Anyhow the 4 seater thing was a response from owners of the GT Dino , sales stalled and what little feedback Enzo listened to was the overwhelming lack of inside practicable space = hence the +2 .
The rear seats are to just place a coat , brief case , shopping etc ….to add to the practicality swaying it to more every day use .
That was early 70 s .
Fasr fwd 50 yrs and the same principle from Ferraris pov applies . They did come up with the 365/ 400 proper 4 seater as today they have the modern GTC 4 AWD full four seater , remember in the 90 s the 456 .

I think the Cali / Porto fit that niche a more touring practical car .

MCW ^ has made a good point re safety and reading the semi disclaimer in the operators hand book re sitting a person in the rear .

As an aside re operators manual I recall with the 360 on the page about the “ sport “ button it clearly said in bold RED ink ( never seen a car manual with this font before red ink only on page …think of the printing cost? ) ….something along the lines of -

“ Danger if you switch this off there’s a serious risk of loss of life “

“ recommend only switch this off on a track not a public road “

Words to that effect ^ . It was referring to the traction control button .
Was a three way switch . Normal , sport or off .

Consequently I never switched it off …ie heeded the written warning .

Just saying .

 

It’s bcz of the finance thingy .
There’s a strong culture here of “ renting “ paying monthly’s in the U.K. . Perhaps too strong .
Dealers love it and there’s a glut of finance Co s to fill that demand .

This means a glut of new sales , followed by a glut of nearly new and young cars . Some with several owners within a year all franchised . Obviously eventually they drop into the specialist car dealers if they don’t meet the franchised dealers acceptance criteria .Guys just swap cars for the sake of it , many oblivious to the difference between a crank shaft and cam shaft .

I once new a guy back in the early noughties who converted my 360 . I paid £38k cash no finance , post financial crash of 2008 ( remember that ? )
Sold it 9 yrs later for £54 K it was effectively free Ferrari motoring for me added 20 K miles .As it’s appreciation covered the running costs .

My mate specced a new 430 back in 2007 list as around £130 K he added £25 k in spec moving it £155k .

He put down £5 K GBP bcz he could with a £95k ballon and funded it with £2700 a month payments .

After a few yrs (long story short ) it was sold before the agreement ended and they ended up paying the finance Co £20 K to get out .I can’t remember the exact finance Co offer ..somewhere around £75 K . The car had under 5 K miles .Hardly used .

So there will be plenty of U.K. high end cars running around with similar profiles finance wise .
Leading to a glut which depresses prices .

 

The Portofino has been holding up better than all the others in its same class. The Roma which I love is about the same price of a Portofino which should be a sign to let you know where the value is headed. I honestly think the Portofino might be the best eight cylinder, comfortable GT Ferrari ever made for a consumer looking to protect himself from a depreciation standpoint. I like the Roma more but the car market is showing that its older brother is more liked.

 

I'd agree with this. From what i've seen, I think Portofinos in the UK are also cheap in comparison to Europe or the US. They suffered fairly rapid depreciation and then settled in the £115k-£130k range and seem to be fairly stuck there. Porto Ms are still over £150k.

The biggest factor seems to be mileage (as always) with 30K mile cars being at the low end. There are still plenty of sub 10K mile cars about. Those numbers are then propped up by the Cali and Cali T below them. Good Cali Ts are still making £90k+ & those will continue to ensure Portofino prices stay at £100k+ for quite a while imo.

Right now in the UK on Autotrader there are 32 Portofinos and 9 Porto Ms for sale. Those numbers have been fairly constant all this year. There are 64 Romas currently for sale & that probably has something to do with softer prices. You only have to look at 296s to see the effect numbers have on depreciation, there are nearly 100 of them for sale ( 65 GTBs and 32 GTSs).

 

I’ve had my 2019 Portofino about 3.5 years and daily drive it adding about 12,000 miles. My car has depreciated approximately 70-80k in this timeframe based on trade numbers I was receiving recently. This is solid and current data.

 

Im located in the U.S. but my dealer has mentioned that California Ts have been selling really well lately and ive noticed them ticking up in price.

 

The Portofino is always going be pecked up value wise by the California and they probably at the lowest point now when Covid hit the prices went mad and a portofino went up around £30k over night they are back where they should be now .
California £45 low spec high miles £80good spec low miles
Cali t £70 - £95
Portofino £110 low spec high miles £130 high spec low miles
These differences in prices will stick so if it was me I’d be getting the spec I want the colour I want with the right miles and on time service history
It’s going loose but over say 5 years the £130 one will be £100 k you’ve lost £30 k
But think of the first owner a good spec Portofino will set you back £210 ish from new he’s going loose £80 you’ve lost £30 k
Don’t worry about it just enjoy it
If you don’t want to loose any money get a 488 pista

 

About right I'd say. My car depreciated around £100k from new to when I bought it with 6700 miles on it as the 3rd owner. Its a high spec car in Rosso Portofino.

I don't expect it to repeat anywhere near that for the next 6700 miles!