What is happening with the Pista market?

Wow. I just picked up an almost identical spec about 6 weeks ago for $520K. Mine had 12k miles but still…..

Market has gone absolutely bonkers. My dealer told me he moved on for a little over 700 recently.

 

Most high end cars in Japan including luxobarges are LHD as it's a status symbol to have LHD in their country. There are some, but very few RHD exotic cars.

I've noticed the big price difference in Japan and EU vs USA. My best guess is a lot more US buyers are more into the investment/speculating aspect on how much it will make them in the future. Whereas in Japan and EU I see cars with more miles and even some modifications you won't see here (especially Lamborghini in Japan). It's starting to make sense for those of us with either multiple residences overseas or frequent visitors of those places to buy and keep there and use there rather than have one here. That's not even going into things like better road quality and lower risks of theft and car accidents of having an exotic in Japan vs US for example.

 

Do you think that will apply to the 488 to some degree as well? Last-ish of true ICE V8 but with a great sounding exhaust (yes I understand not compared to a 458). The F8 needs a lot of expensive aftermarket work with tuning to get it sounding better which may be a turn off for future buyers/enthusiasts? Yes the performance is less, GTB vs F8, but it's likely not noticeable unless you take the cars to 9/10ths of their ability on a track. Maybe this is wishful thinking for me as a 488 owner haha.

 

I’m not really good at predicting the future, but my hunch is that the 488 won’t see a huge price jump. It’s like the 348-355-36-430-458—they’ve had their ups and downs over the years, just like other Ferraris. And hey, that’s perfectly normal!

To me, the 488 is an amazing car. It’s super fun to drive, and it’s got all the Ferrari looks you’d expect. Even though some folks on Ferrari Chat might say otherwise, people outside the forum always seemed to be drawn to my 488 for the 4 years I owned one, and they loved talking about it.

Just like the F8, even though it seems like fewer were made than the Pista, the prices have pretty much leveled off over the last year. There’s been a tiny, ever-so-slight increase, but nothing crazy.

 

Yeah I don't expect them to go up in price much. I think pista's because of the rarity (real or perceived) looks and performance will be up there for a while if not forever. Then the 458 speciale for obvious reasons and the 458's in general. But my hunch is that the F8 and 488 will round out the bottom of these "last of non hybrid V8's" but the 488 won't drop that much further.

I guess I should've clarified. I bought my 488 recently because I finally decided it was time to get a Ferrari and I had the means. I find the car incredibly beautiful and more than enough power. I'm driving it like I stole it every time and don't think twice about mileage. It's funny you mention others. EVERY time I drive it I get looks, thumbs up and kids or drivers asking me to rev it. And it's a 7 year old car! Now I don't expect it to become a collectors item. But I also don't think it'll drop too much more from where it is now. Especially given the design path and hybrid path they've taken since after the F8 (849 yikes!). As well as the great sounding exhaust before they had to further put the muzzle on with GPF filters. Again maybe wishful thinking but I'm still gonna enjoy the crap out of my car whether it depreciates another $100K from now in 5-10 years or stays relatively flat. Just would be an added bonus if it didn't haha.. Always appreciate other's viewpoints.

 

Speaking of Pista….Ive noticed that when I go to car shows I see way more Pista than F8. Not sure what that means but something I notice.

 

I read through this thread and it s a very good conversation. I also wondered what in the world happened to Pista and Speciale prices. Supply and demand are definitely drivers for product pricing. But I also wonder if some of this is driven by dealers (All dealers, large and small). There is a trigger somewhere that raises the prices on a car such that it occurs in a very short time. We saw what happened during COVID.

So could some dealer influence the market by increasing prices on a certain model and then the other dealers react to the price adjustment which then causes a rush on inventory as speculators move to get in on the next appreciating item? I'm not implying the these cars are not "special", but a such a large jump in prices over such a short time is peculiar.

Simply some random thoughts.

 

Yes that can and does happen in retail, especially with a small dealer market and multiple dealers owned by 1 person. Yeah they ALL TALK and react.

Also not everyone that buys these cars is here on FChat so the consumer just reacts and had the money to blow and is doing so to the benefit of the dealers of course. I've read plenty of times on Reddit, Facebook groups and meeting people at shows...there 1st Ferrari is a Pista or Speciale, very rich folks with lots of money to blow on a car or a few cars at that. Same thing happens in musical instruments I deal with. LOL

 

I think its speculators speculating that Pistas/Speciales/F8 will be the last of dying breed -- pure ICE cars.

Given the current model range for their mid engine sports cars (296/SF90, F80, etc.), and expected future iterative models, Ferrari is going hybrid, and there's no looking back.

Not only is a Pista/Speciale/F8 the last ICE, but it may very well be the last V8 (at least in a mid engine Ferrari).

 

well said i think its a great time to buy any one of those if in the market now ,f8 is the best buy and undervalued at the time

 

Only 25 F8 Tributo for sale at Ferrari Dealers USA... hummm... back in the spring there were well over 50 F8 Tributo's up for sale at dealers. I do not plan to keep my F8 as I am getting older and wanting to retire from the corporate grind and do something else.

Is selling now a good time or wait 6 months to a year and put it up for sale?

 

Speciale/Pista/F8 are all "last of" "best of" cars in different ways, each suiting slightly different buyer/owner tastes/preferences. They all have a bright future ahead of them, as do "regular" 458's and 488's produced in greater quantities, but becoming more and more difficult to find well-spec'd, well-maintained examples.

 

Cannot predict the future
Start with your FDealer. Whats your msrp? FDealers will be asking 7-8%

 

I passed on a Pista earlier this year when they were around 600K. I used that money and bought a brand new Urus Performante and a one-of-one Ad Personam Huracan Performante (640K for both). I couldn't get my brain to do the Pista especially since I have a 70th anniversary 488 GTB. Speaking of that there are only twelve 70th anniversary GTBs in the US. One sold In January at Barrett Jackson for 605K and there are two listed right now at 629k and 599k. I'm anticipating the 70th cars going up in value as we get closer to the 80th anniversary. So eventually I'll sell it because I don't drive it which really bothers me. I've always piled on miles on my cars but I don't want to on this car.

 

This isn’t entirely accurate. Speciale and Pista market were increasing in value steadily but exploded when a rare spec Speciale sold at an RM Sothebys auction last year. The next day almost every Speciale on the market jumped up by like $100K. Pista followed suit shortly after and now all VS cars are exploding. 430 Scud and 16M have almost doubled in price over the last few months. Has nothing to do with “last of”. Has to do with the collectibility factor attached to the VS cars.

 

Market has been manipulated by some dealers. If you control the inventory then you can control the price. But hey, if they can get it, then more power to them. I'm seeing a lot more Pistas and Speciales on the market in the last couple weeks. Obviously, some people wanting to cash in. Even a 2.1 million ask on a Speciale Aperta. Finally, anyone know how Carrio Motors has seven primo low mileage F12 TDFs? They've also had several Speciales and Pistas as of late as well. All with sky high asks. They must have some amazing contacts. Been fun watching all of this.