For high mileage 2010's out of warranty in the dead of winter? It's possible. The norm? I don't think so. But you get what you pay for. CNC has one now with 27K miles that's 217. I don't want to speak for them but my guess is it won't be far from 200K even now. Honestly, that's a great car for someone who just wants to drive it and not worry about depreciation from mileage. There's always a buyer for everything.
Not on average, no. As Mayor said, some high mileage, out of warranty cars with average specs/condition maybe. The most desirable cars though, not a chace.
on average: give it a couple of more years. It's happened for the last few models, it'll happen for this one too I bet.
You can already get 458s for under $200k right now in Dubai. 2010s and 2011s easily and the 2012s aren't that far from 200K. With the 2014s just starting to arrive 2013 prices are also under pressure. When the track version is launched in Sept that may cause a further dip in standard 458 prices.
Dupont has 3 cars with askings in the 220-235 and 2 are low miles. AOL has 4 more cars. And this is summer.
I predict 2010 models will be average in the high $190K's in the next 6 to 12 months. Yes most with high miles (high for exotic car miles, you know) and least $ optioned models will also fall in that range.
Dealers are buying them around $200K right now. Maybe you can find one around $225K by fall with 7K-10K miles. Probably 12 months away from seeing several under $200K.
Just looked at Manheim auction values for the cars. Last one to go through was in 2011 for 239,000. That makes me think that there isn't a single way that dealers are paying over 210 for them now.
Sorry to burst the bubble here, but I think many of these comments are nothing but wishful thinking. '10's with the right miles and optioned properly are still in high enough demand to support high $230s low $240s. Sure CNC has some track or rental rats with high mileage, but as Mayor says, you get what you pay for. In addition to mileage and color/options, prices are also contingent upon region. I speak from experience as I'm selling my '10 458 (http://www.ferrarichat.com/forum/ferraris/415275-2010-ferrari-458-6k-miles-nero.html) for $248,900. I've had it for sale for a few days only and already have a few offers far closer to $248k than $225k. Granted my car has the right miles, options, and is Ferrari certified with an extended warranty , but I still don't think I'd be close to $225k if it wasn't.
I hope you received a very fair price as it is a very nice 458. My thoughts even if economy stays strong, by the fall / winter when these cars turn another year older, and perhaps whispers of a 458 coupe replacement, the prices will be below 225K. Too much used inventory out there too. Of course no one has a crystal ball, and we always may find a buyer who falls in love with one specific 458 and needs to buy it now.
What economy? The entire thing is being propped up by government credit creation masking huge problems. If interest rates spike hard 2011+ 458's will be under 200 as financial "professionals" go into fire sale mode dumping all the assets(real estate, bonds, equities) they've overpaid for over the last 5 years, and with those goes their paychecks. Governments have been massively debasing the currencies for years now, measuring long term price trends with fiat currency is like measuring your height with a measuring tape that keeps changing in length. 458's are mass produced and tremendously overvalued at any price above 200. Early adopters(first buyers) get to drive for free and dump on the suckers by selling back to their dealers. Eventually someone becomes the bagholder(as happend with late 430, Scuderia, FF buyers). That is how the Ferrari game works. Pass the hot potato around.
How many 430s were sold in the good years (let's say '04-'07, pre-crisis)? I guess more 458 were sold now, but not more buyers in the used maket as well as competition from the fax machine plus a different economy. Might depreciate faster than a 430?
If you knew anything about economics, you would know that the value of any good or service is what people are willing to pay for them. The more supply, the lower the cost. As time moves on and production sends more and more cars to the states which get older and less desirable to new potential owners, the price drops. What props prices up is that as the price drops, new people are willing to enter the market. Unless you have a free fall in the economy like 2008, the amount of potential buyers remains relatively stable. As the amount of cars increase and the price decreases, the market enlarges and the two stabilize, preventing a free fall. In a nut shell, when reading your post I smell baloney. Image Unavailable, Please Login
Well, the amount of new buyers entering the market depends on price elasticity. If there are more used 458s now than there were used 430s, but price elasticity has stayed the same, then prices have to fall more to clear the market than with the previous model.
$50K is a lot of elasticity. That's what a typical mid to higher mileage 2010 458 sells for less today than original MSRP. It's also the spread you can find today from low mileage '13's to higher mileage '10's. But, the idea that somehow Ferrari manipulates the market is insane. If that were the case, then why are new McLaren's selling for 50 grand off list NEW? Are they just dumb? No, the market is always right always. Fewer people wanted them at that price so a correction had to happen to determine it's "true market value". As long as there are people out there who want to buy a product at certain price then things will remain stable. As long as Ferrari is making more 458's then the market will slowly sink. Baring a major economic correction, apples will stay apples in as far as high ticket potential buyers. Once prices are low enough to attract more buyers, then the price stabilizes. Prices for F430's 360's, 355's and 328/308's have been relatively stable for quite some time, drifting lower only on additional mileage. Will 458 price continue to fall? Yes. A massive sell off? I don't see it without an economic crunch. Then, everything is off and the price of 458's will be the least of our problems.
