Gated 360 Spider Values

Does anyone have an opinion on what the long term values will be of low mileage gated 360 Spiders in superb condition with a good service history?

 

I’m very bullish on them, as well as the Modenas. Especially if they are highly optioned and late (2002-2005) cars.

I’m buying low mileage collector/investment condition (original paint, fully documented, etc.) highly optioned Spiders and Modenas, if anyone wants to sell theirs.

 

I’ll send a pm Michael.

 

Tough to make a prediction as it is one of the first iterations of "mass produced" exotics. The only real historical comp is the 308 series, which languished in relative obscurity for decades, now moving somewhat but easy to get for sub-$100k.

The low mileage bit is good, depending on what low mileage means in context. Look at the '05-'06 Ford GTs, low mileage in that world is sub-1,000 miles. So what does low mileage mean in the 360 world, sub 5,000? Less?

The transmission part is interesting as there are so many manual conversions going on. Sure the factory trans will carry a premium but that probably decreases over time as the buying public gets more comfortable with them.

Spiders are treated oddly in the Ferrari world. For every 812 GTS where the GTS is at the top off the food chain (same as the Apertas for the track focused models), you have a 355 where the spider is heavily discounted. Doesn't seem like 360/430 spiders carry a premium at all.

My opinion is they will increase in value, but don't expect increases like you are seeing in special low production cars like a CS, Scuderia, Speciale, or Pista. The yearly increase probably keeps pace with running costs plus inflation, which is a good thing.

 

I think desireable colors and lower mileage 360's will increase decently in the coming years. Personally, I prefer the Modena. Coupes in all makes/marque's look better. The infatuation with manually shifting an exotic/muscle car will never go away. I think the 360 manuals will be where the 430 manuals are price-wise within a few years. I also prefer the 360 all day long to the 430. I can't make myself like the rear end of the 430's. Just a personal preference. Also, from a rarity standpoint, from popular sources Ferrari only sent 469 Modenas from 1999-2005 to the US market that were manual shift. That number is pretty impressive.

 

It will be interesting to see what happens when more millennials can start pulling the trigger on this kind of thing.

For me, the F50 and 360 were the cars I wanted most. I have to think thats true for other people my age, but hard to know until the trend wells up in 360 price data. I can’t say I have seen a trend in younger owners anecdotally in our local fca group yet.

 

Invest in what makes you happy.
Predicting future values on cars you won't put miles on is a fools game.

 

So true, I mentioned the sheer number of Ford GTs with under 1,000 miles above, which go through 4-6 owners with none of them actually driving the damn things

The only thing they know about the ownership experience is how it looks in the garage....

 

Not that I could afford to buy cars as an investment, but even if I could, I would prefer to have cars that I could drive without worrying about how miles affected the car's value.

There are plenty of ways to invest one's money and I'd rather drive my cars a lot, and invest in the market.

 

I'm in the same boat financially, takes years of savings (9 for the Diablo and 6 for the FGT), and I can't afford to make a mistake.....an SF90 or 296 level of depreciation would really hurt.

IMO, the 360 is a good landing spot for driving it and probably still getting some appreciation (like enough to cover running costs year-to-year)

 

I absolutely agree - the 360 is a car where the running costs are well worth the enjoyment value. If I ever sell it I should get at least my initial purchase price back.

I don't ever see myself getting any new vehicle where the depreciation hit feels like a kick in the nuts. I bought a CPO Porsche Cayenne S 2-1/2 years ago for $72k. It's worth $40k now, but I intend to have it for at least another 10 years, and it's a company car. So at the end of it's life it should feel like I was just paying to have a nice SUV.