456 Increasing Values and Drivers Remorse

Exactly Graeme. I'll gladly take a 250 with 400k miles on it.

 

Exactly, which is how it should be, veneration of low miles is just silly. Who would buy a race horse that has just stood around in a stable?

 

I'm new hear and I'm looking for my first Ferrari. Currently looking at a 2003 456 (automatic) with 10k miles. They are asking 80K. I would really prefer a manual. Any recommendations on current valuation guides or 456's with manuals trans. for sale would be appreciated. Thanks!

 

There's nothing wrong with the automatics if the car has been maintained properly. That's quite low mileage that you are mentioning. It might actually be better if the mileage was at least double that so the "bugs" would have been taken care of. Very low mileage (<10k) might benefit the value of a "trophy" Ferrari, but a 456 auto isn't going to appreciate much, if at all. However, the manual values on the 1996-mid 1990 models such as the 456, the 360, the 430, the 550, etc have risen dramatically over the past year or so due to the fact they were the last of the gated cars as Ferrari moved to the F1 transmission. Expect manual transmission cars to fetch $30k or more over an automatic in those models due to scarcity and desirability.

So, a safe estimate would be that a three-pedal 456 with low mileage is going to be around $85k and up in today's market. They are scarce and the few out there right now are asking well above $100k. Again, expect those numbers to keep rising. If you do find a manual below $80k, it will probably have high mileage and/or a questionable history.

 

456M GTA values are appreciating, just not as fast as the GTs. The automatic in the 456 series was specially adapted to the V12 engine and matches the torque curves nearly perfectly. They have been relatively trouble free if the fluid and filters are changed regularly. Based on an excellent GM 4 speed automatic.

Sounds like a very nice 456M GTA and that price is in the correct range for the last year of the 456M and one with low mileage. Besides, that is just the asking price. If anything is wrong with her, the 456/456M owners here know the solutions.

 

Nobody knows the values of 456's at this time better than me. I spent 2 months stalking every possible available 456, those listed on various sites and also reaching out to F-Chat 456 owners. No GTA's with asking prices over 60K have been sold. A decent one w/30K miles that was listed on Ebay for $49900 is still available. Marshall Goldman has a 99 reduced to 62K, and an 03 for 75K, both $4000 less than they were 2 months ago. Joseph in NJ has a sweet 99 and can't get a bid over 60K. The guy near me in Northbrook has a TDF/Oatmeal, 10K miles, nothing over 57K, did not sell.
On the other hand... I drank the gated Kool-Aid. Like none available. The one in Seattle, good luck at that price but then again they only have to sell it once. CNC has had there's for 6 months now. They are dealers that want to make major profit and are willing to wait for Mr Right even if its not right now. I tracked down 3 mint 456M GT's and can personally guarantee you will pay at least a 35% premium for the privilege. IMO: GTA's are a nice bargain at this time, just not for me.

 

Of course they seemed expensive, none had luggage.

 

Thank you very much! Very helpful and similar to what I as thinking bases on my research so far. Where or how did the get the prices for the Marshall Goldman Cars as they are still listing the higher prices on their website.... but have been listed there for a long time!

 

Do you have a link or any contact info for the TDF/ oatmeal w/ 10k in NJ? Thanks!

 

Ha!

 

my 03 with 2800 miles - wld take a lot for me to part with this one!
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Love the shooter tutor.

 

Gorgeous. I love the seats.

 

Very nice!

 

better than me getting hit where it hurts!

 

That car was in Northbrook, IL. Looking at the ebay completed listings, that car did sell for 60K after 3 listings.

 

what year and miles?

 

I bought the one I think you are referencing on ebay (from Automotive Excellence in San Diego) for a few hundred less than list. So far seems very well sorted, going in for engine mounts next week. No other known issues following PPI and 2,000Miles.

 

Alan- Congratulations on the buy. You should enjoy her very much.

 

MY1999 12000 miles

 

lol guess I overpaid for my 03 even in today's prices!
oh well!

 

I doubt it.

 

Great pictures and nice comparison and similarities

 

Consider that the car that was at Marshall Goldman (Argento with Lt Grey Daytona seats and contrasting inserts in black) with 9200 miles was priced variously between eBay and web listings between $62-$69K and languished long enough for them to unload it to *****************. Merlin now has that car listed for $80k. I inspected the car when it was at Marshall Goldman and found a generally very nice condition car with a few of the common issues both interior and mechanical. Nothing terrible, just age related stuff. Not putting miles on a car doesn't mean that the universe doesn't put time on it!!

Merlin's other M GTA listing is a bit longer in tooth both age and mileage and is posted at $68K. While the summer was slow and in the doldrums, there seems to be some pickup (at least in dealer ask values) for the start of the new year.

Of course, if RM Southby's can get the high end of their $150k--$225k estimate for the 4.5k mile M GT they are putting on the block with no reserve come Tuesday (1/17) and I'll confess the car appears in fine condition (perhaps a few paint chips on the front), then the goal posts will indeed have moved a bit.

Many here will tell you that you can overpay for a bad car, and it's a lucky man who gets to underpay for a great one, but it's not very likely that an informed buyer will overpay for a good one! Always buy the best one you can afford....they're cheaper in the long run.