360 Spyder prices in the auction.. Dropping. | FerrariChat
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360 Spyder prices in the auction.. Dropping.

Discussion in '360/430' started by swilliams, Jun 29, 2007.

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  1. swilliams

    swilliams Formula 3

    Jun 14, 2006
    1,407
    Bowling Green, KY
    Full Name:
    Scott
    #1 swilliams, Jun 29, 2007
    Look at the prices of these Spyders in the auction..

    Granted these cars could have bad stories to go with them, but they are very cheap.

    2001 Year.


    05/09/07 W PALM Regular $132,000 9,848 Below BLUE 8G 6 Yes
    06/08/07 NEVADA Regular $145,000 13,210 Avg YELLOW 8G A Yes
    02/02/07 MANHEIM Regular $139,000 14,438 Avg SILVER 8G 6 Yes
    05/18/07 MANHEIM Regular $136,000 16,205 Avg SILVER 8G 6 Yes
    03/29/07 RIVRSIDE Regular $128,000 17,967 Below YELLOW 8G A No
    06/21/07 RIVRSIDE Regular $123,000 23,975 Below YELLOW 8G M No
     
  2. MufflerMan

    MufflerMan Formula 3

    Jun 12, 2005
    1,564
    Sacramento Ca
    Full Name:
    Colby Sandman
    #2 MufflerMan, Jun 29, 2007
    Well with your access to Manhiem, one would assume you are in the business and or know someone in it. My point is, if that is the case, that you would know that good exotics never make it to an auction. If a Ferrari or any other exotic is a good piece, it will be sold retail somewhere. Auction prices on these cars will be all over the board.
     
  3. Senna1994

    Senna1994 F1 World Champ

    Nov 11, 2003
    13,192
    Orange County
    Full Name:
    Anthony T
    #3 Senna1994, Jun 30, 2007
    +1
     
  4. RobertM

    RobertM Formula 3

    Apr 17, 2005
    2,498
    Weston, Florida
    Full Name:
    Robert M
    #4 RobertM, Jun 30, 2007
    where the prices for us or euro cars ???
     
  5. cityvibe

    cityvibe Rookie

    Aug 26, 2004
    40
    #5 cityvibe, Jun 30, 2007
    That's not necessarily true. I just picked up a 2000 360 modena at an auction that had been bought and serviced (full records including recent belt change) at Beverly Hills Ferrari. Only 6,000 miles and the car looked like it just rolled off the showroom floor. I had been looking for about a year and this was finally the one. I couldn't have found a better example anywhere.

    In a sense they can be traded like iny other asset, albeit the typical Ferrari buyer is pretty meticulous.

    By the way, I've only had it for two months and I've already put 2500 miles on it and drive it every day, everywhere, even up and back to Vegas twice. I hope to put at least 30,000 miles on it in the next two years :)

    With the drying up off all the liquidity in the coming global asset bubble meltdown you'll be seeing the prices on exotics dropping as demand will fall and these toys will be the first to go when people get strapped for cash.
     
  6. swilliams

    swilliams Formula 3

    Jun 14, 2006
    1,407
    Bowling Green, KY
    Full Name:
    Scott
    #6 swilliams, Jun 30, 2007

    Thanks for questioning my business sense, I appreciate it.. My statement was to show I have been watching spiders for the last 2 years and this is the biggest price drop I have seen in 2 years. Last year this time(top market price of the year) 01 spiders were consistently bringing 145k-159k in the auction. This year they are showing 10-20 less than last year. Hell, 2000 modena's with 17k bring 110 -115 in the auction. Why not get a year newer spider with same miles for 13-15k more.

    I have seen good exotics at the auction with the service records on the dash.. you cant pile all of them together as bad cars. Both of my 360's have came from auctions and both have been well serviced. There are so many 360's that some of the good ones will hit the auction. Good 360's that are traded in from the first owner often make it to the auction . They may not move fast enough for the dealer so they take them to the auction. Or for example, a guy in Atl had a 430 that he wanted to get rid of quick(money problems or divorce), he took it to a dealer friend and the dealer sold it for him at auction at 1100 miles. Thats what its for, REAL MONEY TODAY... and that means a lot sometimes.


    Manheim will not allow you to run a euro (imported) car (unless you announce as parts only)so none of these are euro vehicles.

    BTW, for comparison. 2001 modena prices.

    06/01/07 MANHEIM Regular $123,500 9,890 Avg Yellow 8G Yes
    04/25/07 NADE Regular $121,500 9,830 Avg YELLOW 8G Yes
    03/22/07 MANHEIM Regular $125,500 2,797 Avg BLUE 8G Yes
    01/04/07 RIVRSIDE Regular $115,000 22,753 Avg YELLOW 8G A No
    10/25/06 W PALM Regular $126,000 7,803 Avg RED 8G A Yes
    09/21/06 MANHEIM Regular $118,000 8,972 Avg YELLOW 8G A Yes
     
  7. lapeter

    lapeter Formula Junior

    Jun 13, 2002
    885
    SunValley ID&Kapalua
    Full Name:
    Al LaPeter
    #7 lapeter, Jun 30, 2007
    Do you know how much the 430 spider sold for and what year it was???
    Thanks,
    Al


     
  8. swilliams

    swilliams Formula 3

    Jun 14, 2006
    1,407
    Bowling Green, KY
    Full Name:
    Scott
    #8 swilliams, Jun 30, 2007
    No, I cant remember it was 6-8 months ago.. no longer on MMR. It wasn't cheap.. I remember that. BTW it was a Coupe.
     
  9. Xecution

    Xecution Karting

    Jun 20, 2007
    113
    South Easton, MA
    Full Name:
    John J.
    #9 Xecution, Jun 30, 2007
    Personally, I don't care how many books, records or services it had. I wouldn't pay over 100 grand for a car that is from an auction. I'd only buy from a reputable dealership. When you have enough money to buy a car in that price range. an extra 10-20 grand is worth the piece of mind. Just IMO
     
  10. lndshrk

    lndshrk Formula Junior

    Nov 7, 2003
    753
    SLC, Utah
    Full Name:
    Jim Conforti
    #10 lndshrk, Jun 30, 2007
    Have you guys actually LOOKED at the Carfax/etc's of some of the cars
    that are at "reputable dealerships"? Yup, they came thru the auction.

    You'd be better off putting that $20k in a liquid investment just waiting for
    a rainy day than handing it over to a dealer as additional profit for him.

    Jim
     
  11. jvmax

    jvmax Formula Junior
    Silver Subscribed

    Oct 16, 2006
    927
    Orlando, FL
    Full Name:
    John
    #11 jvmax, Jul 1, 2007
    Makes us Modena owners feel good our cars are holding their value
     
  12. SDChris

    SDChris Formula 3

    Mar 8, 2006
    1,840
    Sioux Falls, SD
    Full Name:
    Chris
    #12 SDChris, Jul 1, 2007
    I am a Manheim dealer and what is funny is when it comes to the MMR...There are so few Ferrari and Lamborghini running through the lanes that the numbers are going to be low...

    When you are at the lanes the cars are moving fast and the excitment to sell is high...most times these car are dumped in the lanes because of the pressure to sell...It a tuff ring not for the weak..But if your buyer is good he can drive the lanes up..



    Here is the Manheim sales:

    For Week Ending Jun 27
    Above Average Below May 2007 Jan 2007
    Sale Price $161,361 $145,000 $128,639 $145,000 $136,500
    Mileage 6,605 13,210 19,815 13,210 10,159

    Total Sold All 6

    Average Auction Mileage
    Prices are based on more transactions than shown under 'Transactions', above.

    Jul 2 - Jul 09 2007

    Above Average Below Insufficient Transactions To Estimate Future Prices.
    Auction $156,000 $145,000 $134,000
    Est. Retail $169,000 $157,000 $145,000
     

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