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355 prices

Discussion in '348/355' started by speeder37, Feb 5, 2004.

  1. speeder37

    speeder37 Karting

    Nov 18, 2003
    93
    Chicago
    Full Name:
    Matt
    The priices of 355"s have been falling for quite some time now. With spring impending, have they hit bottom? Do you feel that now is the right time to buy? Do you feel that 355's will continue on the downward trend?
    Question 2
    Why are they falling? Supply and demand or trouble in paradise?
     
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  3. sherpa23

    sherpa23 F1 Veteran
    Silver Subscribed Owner

    May 28, 2003
    9,511
    Colorado
    Full Name:
    Bastuna

    I don't think that they hit bottom but the curve is levelling off. I think that now is a pretty good time to buy. I pulled the trigger about 7 weeks ago and have no regrets. The price is not due to trouble in paradise but rather opportunity cost/supply and demand. 996TT's are much faster and are starting to be had for 355 money. 360s are dropping and maybe someone might consider speding an extra $40k for a 360 instead of $70k. That's the idea.
     
  4. stuart

    stuart Karting

    Aug 13, 2003
    100
    Hidden Hills.CA
    Full Name:
    Stuart Siegel
    They depreciate because there are a lot of them for sale (75 right now in the Ferrari Market Newsletter). The 355 Berlinetta, according to the FML, has depreciated 7.36% in the last 6 months and that puts it right near the top of the Ferrari depreciation list. I think prices will continue to drop for a few more years. Having said that buy it if you love it. Your fun and enjoyment do not depreciate.

     
  5. speeder37

    speeder37 Karting

    Nov 18, 2003
    93
    Chicago
    Full Name:
    Matt
    Thanks gentlemen.
    I just witnessed a nice 95 Spider change hands at 73k. I also saw a euro 95 GTS sell on Ebay at 55k. These were not off color cars. These cars were 20% more expensive one year ago. This market is a little scary. I know the old adage of not buying a car for resale value, however these cars are bordering on the ridiculous.
     
  6. redjeeper

    redjeeper Formula Junior

    Nov 4, 2003
    279
    Flowood, MS
    Full Name:
    Anthony Griffin
    I hope they drop a little more so that I can finally afford one. My wife said no epensive toys until we get a new house, so you know what I'll be doing next year.
     
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  8. Jerrari

    Jerrari F1 Veteran

    Jul 24, 2001
    5,458
    Michigan
    Full Name:
    Jerry Wiersma
    Divorcing your wife?
     
  9. alx355gt

    alx355gt F1 Veteran

    Feb 3, 2004
    9,494
    Belgium
    Full Name:
    Alexander
    lol!

    No, serious, I'm facing the same problem. Hopefuly prices drop a little more, so I'll be able to buy one quicker.
     
  10. redjeeper

    redjeeper Formula Junior

    Nov 4, 2003
    279
    Flowood, MS
    Full Name:
    Anthony Griffin
    Nope, I punked out and started looking for a lot to build a new house. :)

    Two Lexus and Ferrari, that should piss off the neighbors.
     
  11. ty (360mode)

    ty (360mode) Formula Junior

    Sep 25, 2002
    807
    Houston
    Full Name:
    Tim
    why would that p!ss off the neighbors?
     
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  13. TC (Houston)

    TC (Houston) Formula Junior

    Feb 5, 2002
    781
    Houston
    Maybe the lot is next door to Allanlambo's house? :)
     
  14. lomotpk

    lomotpk Rookie

    Dec 4, 2003
    27
    Winchester, MA
    Two Lexus and a Ferrari....

    "Looks like the white trash has started to move in. Time to sell." said the Neighbor
     
  15. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    47,839
    Texas!
    That's PWT (Poor White Trash) to you, partner.

    Dr "Cracker" Tax
     
  16. sjb509

    sjb509 Guest

    Jeeper,
    I was in the same boat you were in last year, and also bought the house. I probably put back my Ferrari fund by a couple of years after all of the associated costs of the move. I think the owner of the furniture store, however, has accelerated his Ferrari buying schedule (out of my fund and into his).
     
  17. redjeeper

    redjeeper Formula Junior

    Nov 4, 2003
    279
    Flowood, MS
    Full Name:
    Anthony Griffin
    It would piss off the neighbors because the average house cost $300,000 - $400,000, which is high for this area but my neighbors all drive Honda Accords and Camrys or SUVs.
     
  18. sjb509

    sjb509 Guest

    That's about the same price range for our neighborhood. I don't know if my race-piped Ducati pisses off the neighbors, because some of them are too snotty to talk to us either good or bad.

    If you really wanted to get them going tell them how you had paid less for your '95 355B than they did for their new Hummer H2.
     
  19. redjeeper

    redjeeper Formula Junior

    Nov 4, 2003
    279
    Flowood, MS
    Full Name:
    Anthony Griffin
    I did that with a coworker of mine. She paid more for her 2003 Camry than I paid for my used 1999 Lexus GS300. I always buy used and let someone enjoy the depreciation of it being brand new. Just common economic sense. That is the one thing about F-cars that I like, most of them are low mileage when they are sold used, although sometimes, that can be a problem.
     
  20. chaa

    chaa F1 Veteran

    Mar 21, 2003
    5,058
    i bought mine a month ago in the uk while it was at winter prices, cant say i could have afforded the extra £10000-£15000 that would have been added on to the price in spring. My choice was 355 spider or 360 Modna coupe both around the same ball park.Spider won.
     
  21. k wright

    k wright Formula 3
    Silver Subscribed

    Feb 4, 2004
    1,732
    North East TN
    I "bought" that 355 that went for 55K. The seller didn't deliver....because he has a car that has not passed DOT or EPA certification, so add 18-20K to that price. I passed on the car and hope that nobody thinks that the market for these cars is falling because of that price.

    My bidding opponet was an educated buyer, he knew how to decode the serial number and that the car is not here legally. I have learned alot since then and plan to buy a similar car from a reliable dealer.

    Also the car has a clean carfax report, but was first registered in the USA at 12K miles. Who knows what happend before that. It had an unusual interior.

    What is are the differences between euro spec cars and USA spec cars? I'm still looking for a car.

    ken
     
  22. jakermc

    jakermc Formula 3
    Owner

    Jan 17, 2004
    1,778
    Palm Beach, FL
    Full Name:
    Rob
    How much do you want to spend and what are you looking for in a car? I just bought a 355 GTS and still have my old leads. I could look to see if something matches up with what you are looking for.
     
  23. kverges

    kverges F1 Rookie

    Nov 18, 2003
    3,160
    Dallas
    Full Name:
    Keith Verges
    Prices will go down more, and if you worry too much about that then you really don't want the car enough. face it, you will lose money on the car.

    As for the low, low price cars, I believe they all have "issues." I paid a bit more for a no excuses car that is cosmetically excellent. Know what? I've done nothing but put gaw & il in it for 4k miles and five months and drive it like a CAR, not some silly "investment" that stresses me out because I worry about 8500 rpm breaking the old belts or a rainstorm, or a rock chip or ....

    The best thing is that I like the car so much more than I thought I would that I don't really care about depreciation.

    I owuld say the best price for a good Berlinetta that is serviced and ready to go is $75-$80K and go up from there. You might do a tad better for a funny color like green, but to save 5K and get something other than what you really want - seems nutty to me.
     
  24. Mako99

    Mako99 Formula Junior
    BANNED

    Dec 29, 2003
    454
    Perfect post, couldn't have said it better myself. Particularly the part regarding an influx of 996 Turbos, was just thinking about that today myself.

    To buy a 355 right now, or in the future from here on out, you've really got to be in love with it, because a 996 TT with a little cash thrown at it for ECU mods is a far better performance value.
     
  25. alanhenson

    alanhenson Formula 3

    Dec 2, 2003
    1,335
    You guys are nuts if your comparing the 355 to the 996tt. Sports cars are about passion and the p-car has none. It's not about value and numbers, it is about the sound, feel and smell. Example: My buddy just bought a 550hp Ruf porsche. I have a yellow 355f1 spider. We drove a bunch of our friends around the streets of Houston during the superbowl and the porsche barely got noticed and my friends were all fighting to ride in my car,even thoug his is much faster. I guess if your german sports cars are about sensibility, but that is not what 95% of people react to, it's passion.
     
  26. Agent Smith

    Agent Smith Formula 3

    Apr 20, 2002
    1,501
    I love F355's. Ferrari built a ton of them (realtively speaking) so there are more potential ones for sale than most other models. Supply and demand. I'm rather looking forward to the depreciation curve (no offense to any F355 owners) because it will accelerate the time when I can afford one :) As for a F355 vs 911 Turbo......there is no comparison. I like the 911 Turbo too and find it to be a tremendous value performance wise - but give a choice between those two cars......well that is a no brainer.
     
  27. Jerrari

    Jerrari F1 Veteran

    Jul 24, 2001
    5,458
    Michigan
    Full Name:
    Jerry Wiersma
    Spot on Alan, I would buy a 355 over any P car any day of the week for your exact reasons.
     
  28. alx355gt

    alx355gt F1 Veteran

    Feb 3, 2004
    9,494
    Belgium
    Full Name:
    Alexander
    What's a Porsche??? :)
     

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