360 market values

You cant get the true market for it with a dealer as trade or if you ask a PP.
Easy, look at cars.com or autotrader. Compare miles and see how much dealers are asking. Minus $10k. That maybe a ball park of its market, and the only way to get that is to private sale it.

Dealers would like atleast $30-50k mark off to cushion themselves. Its a trade in value not market value.

They told you $85k, add atleast 30k and that is probably what they would sell it off.

There is only one other I would say that compares to my 360 MT as the best bang for their buck, and that is my 997 TT MT. Ive bought cars almost half a million dollars and I cant believe I can tickle myself with a $80k car like my 360. I am getting too old probably but its a drivers car. Ill see you in Pebble beach with 100k miles on it but I dont care, I just bought it cheap.

 

I think (I could be wrong) that the Hagerty data for the "Spider" and the "Base" (or coupe) are blended numbers, including both gated and F1 cars. Only the "Spider F1" data clearly reflects only a single type of car. And I would guess the +$50,000 number they mention for a gated car is for Concours cars, which are rare. So, if you look at the "Good" number for a Spider F1 it is $75,300. If you add roughly +$40,000 for a "Good" gated car, you get $115,300, which seems about right. And if roughly half the cars are gated, and half F1 in the blended "Spider" data, you get to the $94,000 for the "Good" car shown there. I think the "Base" or coupe data is probably also blended, about half F1 and half gated. So, if you just add +$40,000 or so to that number, you are counting the gated premium twice. (Well, 1.5 times roughly.)

Again, I could be wrong. But I assume Hagerty is reporting its data honestly, and that is what seems to me to make the most sense. They have been keeping this data for a long time. You can pull the past five years of data from their web site. The interesting thing about that, using the "Spider" and "Spider F1" data, is it shows the F1 cars as more valuable than the gated cars in 2012 (which makes sense, since originally they cost more), and they continue to be more valuable as the cars depreciate, until they hit bottom about Sept. 2014. At that point both gated and F1 cars start to go up in value, but the gated cars go up much faster than the F1s. The gated cars catch up to the F1s in value in 2015, and by January 2017 the gated cars have substantially exceeded the F1 cars in value.

 

That's what dealers will tell you; but it's the opposite when they are the ones selling. Although true that prices have softened recently.

 

id pay 100 for it if i was in the market. For me to pay 120k it wld have to be a sub 5k mile car and id lean towards an 03.

 

I would say the market is soft across the board. I was just lucky to have unloaded my SCUD and Speciale when it was at its peak. Cant believe I can buy a low miles scud right now for how much I traded mine last year.

So its not the car(360) but market forces. Too many types of Fcars, too many exotics, lots of cars sitting.

 

Hagerty comments with regard to its Ferrari Index generally (which doesn't include the 360): "Hagerty’s Ferrari Index lost 2% over the past four months, and although the number itself isn’t immense, it is newsworthy because this fall was the largest decline this group has seen in nearly eight years." See https://www.hagerty.com/apps/valuationtools/market-trends/collector-indexes/Ferrari

On the other hand, Hagerty's values for the 360 have gone up in every class over the past 12 months, generally by about +4% (comparing May 2017 to May 2016). These numbers purport to represent actual sales.

Asking prices seem to be different. Ferrari Market Letter shows current asking prices for the 360 have dropped modestly in the last 12 months, by about -1.6% for the coupe and -4.4% for the spider.

It will be interesting to see in the September Hagerty values whether they reflect the drop in asking prices. (I would assume asking prices are a leading indicator of sale prices.)

 

Thanks for the feedback. The dealers telling me this are mostly ones that would sell the car on consignment not trade or buy outright. Which has me scratching my head

 

This past weekend but I have no idea on the results ....anyone with info ? Highest bid ?

2004 Ferrari 360 Spider - Santa Monica

 

$110,000 bid, so I'm told.

 

On the auction page it says "Please note this vehicle is being sold title in transit." I have no idea what that means.

Any clues?

 

They do not have the title, it was mostly likely paid off and the bank is sending.

 

It means the title is in transit or the car still has a lien and after the auction, will be sent.
Blurry description but totally acceptable even in ferrari dealers. Nothing unusual or extra ordinary.

 

Thanks.

 

Auction houses and often dealers too seem to describe the car model in general in their item descriptions. Not the exact specimen at hand and it's options that is being sold! It's all to spark the interest of a first time buyer or to take your attention off from upcoming maintenance costs =)

 

Not much change over the month here. Holding prices well

https://aldousvoice.com/2017/06/04/ferrari-360-market-watch-june-2017/

 

hagerty is CERTAINLY not correct (IMO) about the $50K adder (and yes, i have a 3 pedal coupe) $10K ? yes, $15K? probably, >20K? = unlikely.

 

Kevin tracks the average asking price for gated Modena coupes in a different thread here (wonderful data! he's currently updating it), and his current average is about $114,000. Ferrari Market Letter tracks the average asking price of Modena coupes generally, and their current average is about $76,000. That difference is $38,000. But that is rough, because the Ferrari Market Letter average includes the gated Modena coupes, which pulls it up above what would be the average for F1 coupes alone. So, the real difference in average asking price would be greater than $38,000, one must assume.

I agree that seems high. I'm not carrying a brief for Hagerty. I've just bought an F1 myself so I have no desire to badmouth the values of an F1. And, of course, asking price isn't sale price. But it is interesting.

 

Even if you feel it isn't right doesn't mean it's not. Kevin tracks the gated market and it's damn near close to it.

 

Just my two cents, looking at the info Kevin has put together in another thread, and having bought a six speed coupe recently, i think 30-40k is the ballpark and it will depend a lot on the car. I do think that it is somewhat hard to tell because it is hard to find two apples-to-apples cars out there, one that is a six speed, and one an f1. For example, the one I bought is about as pristine as a car can be and low mileage (not saying this to toot my own horn, it really is the case other than one minor blemish); so the premium I paid was based on some combination of condition and transmission. How much was one versus the other, difficult for me to say.

 

The most important thing is that you wanted a 3-pedal car and went for it. Some people prefer F1 and the market is good for a buyer right now!

As more years go by, the 6MT will remain as a curiosity and it will keep it's appeal amongst enthusiasts and people who know what they want from their Phrarys. Many first time buyers jump happily into their F1 360's as they are affordable.

 

Aldous Voice has published his July 2017 360 Market Watch. The average asking price in the UK is down slightly for July. He writes: "This months update was supposed the be full of joy about how the general election of 2017 brought us more of the same and that the supercar market bounced back to normality as uncertainty about the future deminished. Except it didn’t work out like that – we now have even more uncertainty than we did before."

As always, he has interesting data and analysis, so visit the site if you care about 360 market values: https://aldousvoice.com/2017/07/04/ferrari-360-market-watch-july-2017/

 

Ferrari Market Letter is out for early July. The average asking price for 360 Modenas is up slightly over six months ago, the average asking price for 360 Spiders is down slightly. Both are still well up over two and three years ago.

 

Aldous Voice has posted his August 2017 market watch. Average asking price for 360s has gone up a bit in the UK over last month and over six months ago, although it sagged in the interim. Rosso is still the most popular color, followed by Argento (based on average asking price). Lots of interesting information on his web page, as always: https://aldousvoice.com/2017/08/05/ferrari-360-market-watch-august-2017/

 

I approach this topic with a lack of an in-depth knowledge of the 360 resale market.

However, it is a realty in the automotive resale market today that it is generally soft. Avis and Hertz are not getting as much as a year ago on sales of their used vehicles. The Uber effect is causing folks to use this service in lieu of car ownership. The move to driverless cars maybe contributing to softness although not measurable at this time. The waiting list for Tesla vehicles shows a demonstrable change in attitude of the buying public to electrics and this is having a meaningful effect on Detroit's new car sales as well as the current fortunes of the big three car makers (Tesla's market capitalization is bigger than any of the three). Finally, dealers and lenders are pushing 60-72 month loans to sell new cars and the inevitable borrower stress to pay these loans is beginning to show. The packaging of such loans coupled with borrower default is beginning to worry regulators that a worrisome situation similar to the home loan default crisis of 2008 maybe developing. The consequence of this is a dumping of more used cars into an already soft market.

Of course, the market for exotics differentiates this category of ownership from the above changes taking place. Nevertheless, taken as a whole, the above trends maybe be having an effect on resale values on the entry level ownership cost of a 360.

 

Ferrari Market Letter is out for mid-August. The average asking price for 360 Modenas and 360 Spiders are both up slightly over six months ago. Both are down slightly over a year ago, but still well up over three years ago. If you want to follow the market, this is a good resource.