Anyone notice Ferrari values have fallen by least 15% or more on all later models in the past 2 years? Models from 328-355s, TRs, Boxers, etc., vintage rare high priced collector models have appreciated and American muscle cars have gone thru the roof. The economy is not bad, any ideas on reasons?
Too much supply, not enough Demand, Can you freakn believe how many 360's are on the market now. Take a look http://www.ferraribuy.com/
The economy is not bad right now, but it has been in a slump starting about 3 years ago until just a few months ago. The depressed price structure is a result of the protraction of the slump pulling down on demand (ability to buy) and pushing up the supply (I'd better get out before its value drops further). And the cars are not getting any younger....
360 172 cars for sale in USA 360 spider 129 for sale in USA 360 outside usa for sale 264 360 spider outside usa 186 Good pickins if you're shopping for a 360
Dont forget These http://listings.ebaymotors.com/Passenger-Vehicles_Ferrari_W0QQlotrZ1QQsacategoryZ6211QQsiteidZ100QQsocmdZListingItemListQQsocolumnlayoutZ3QQsocustoverrideZ1 http://www.dupontregistry.com
i just dont get the american muscle car thing... ugly, outdated cars that any adult would look silly in....some are going for 200k!!! talk about a bubble!!!!
Not sure about the exact % however, the 328/348 are certainly not rare and as they age considered by most less desirable. Personally, I don't feel the 355 falls into this catagory.
As an owner of a 355 I try to keep an eye on the market. My car seems to be holding better than I expected. According to the most recent issue of Cavallino, the 355 took a slight dip, except the spider which is holding an even ground........a car is not an investment, but I find the results interesting.
355 Spiders were way over $100k and coupes in the $90s 2 years ago, now Spiders are in the $80-$90s and coupes in the $70s, going by Cavalino is not realistic, 355s are old cars now also.
A lot of people would consider the 250 GTO ugly and outdated, but not us or any real car enthusiast for that matter. And what does a GTO fetch today? In the millions. Same rule applies. Those old school muscle cars have a sentimental value to some. Outdated? They're classic cars. Of course they'd be outdated by todays standards. I personally like them. Figures since i own a mustang. But i look at them differently than i would a Ferrari. Both have their own appeals (if you're into either that is). I've been wanting to pick up a project 65 mustang to restore after seeing this beaut. http://mustanggt.homestead.com/files/purple642.jpg http://mustanggt.homestead.com/files/purple643.jpg That and i'd like to get a 69 BOSS 302. http://www.cars-on-line.com/12900/70must12921-A.jpg Course, i'd like a 996 turbo and a 360 as well, but those'll have to wait.
I'd say it's been up to a 20-25% drop on certain cars. There's lots of speculators wanting out........and there's also lots of newer high end cars on the market as well.
Hey Seppy! My wife agrees with you! She refuses to be "caught dead" in my muscle cars. My kids love 'em though. I don't drive my muscle cars often but they have appreciated on a linear scale more than ANY investment I own in the last few years. I am afraid the bubble may burst one of these days, however. That's why I am selling most now: www.mgmcar.com Web site needs to be updated. I will get better photos and my other cars up there soon. My Boss 302 is the one car I really enjoy driving and will probably keep.
The "muscle car" market, while growing, WILL collapse.........just like the exotic market did after the late 80s.........history repeats itself, but most investors don't take note. After the collapse, the investors will choose another avenue for their money............and those who love cars, will choose another class (maybe TRs.......haha), where they think they can make money. And those at first DO make money!!!!!!!!!! It just seems that this starts a spiral.........and as more uninformed investors get into the market those at the end will LOOSE it all..........Just like they did before!!!!!!!!!!!!! I would say that the "hard core" money making investor is already out of the market.........and just laughing!!!!!!!
Note drop in 355s, primarily after 360 intro. Market economics (supply > demand, prices drop) apply to everything, even Ferraris. Image Unavailable, Please Login
I know, I just noticed that. I emailed Consultwebs which created the site to see what the problem is; it was working last time I looked. Hopefully, it will be up in short order. Thanks.
This is what I like about the 400i, at less than $30K market value for most, (sometimes way less than $30K), there ain't much further depreciation possible! 456's are headed to the same territory. Don't worry folks, not in the next 2-3 years, but likely within 5-7 years given the large numbers produced and their reputation for expensive maintenance costs. By 2011 the first 456's will be 19 years old. John
Of course these cars are going to lose value. The cars are being driven, and their getting older. The 360s are losing about 10k per year from the cost of the car. Considering that its only about 6, 7% of the total cost, and that they will level out at some point, and you get to drive them, not a bad deal. The special models, starting with the GTO, going through the ENZO are another matter. Those cars are special, and they either keep their value, or increase in their value, but who can afford a 1M car? Very few. Art
I would have to agree with some of the above postings, a little from each one. Having owned muscle cars as a teenager I can appreciate the nostalgia of wishing I had kept them. Purely for nostalgia though. I do have a few patients who keep buying them and storing them in warehouses for the future. Regarding Ferrari prices, which I have been watching for years, I can see why 355's have collapsed. The new 360's is the latest toy on the block and does have a much nicer frame. I would attribute the fall in 355's to that. Sme goes for the 550's and the 575's. I am currently shopping for a 550 in a 2001 thinking it is a very good deal now, unless you have to have the latest and then you will ante up another 100K for the 575. I do see a trend that started with the testarossa in which Ferrari started cranking out cars in volume as compared to the 275 and 365 days. I think that has dampened appreciation rates a little. If you look at the low production number cars though, they are holding their values well. My friend picked up his F40 about 7 years ago for 250K. he was patient and waited for a very good opportunity. I feel they will be keepers for the long term for sure. But as my friend states, just buy the car you like and enjoy it and if you keep it long enough and take care of it, you should not lose money on it. gary
You won't lose money on it....except that insurance is $5000 a year or thereabouts, and maintenance is about 5% of the puchase price per year....People don't realize that a $100 k Ferrari actually costs $10000 a year to keep on the road, even if the intrinsic value remains the same.