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458s Suddenly "Flying out the Door"

Discussion in '458 Italia/488/F8' started by IndianaNative, Nov 17, 2019.

  1. IndianaNative

    IndianaNative Rookie

    Jul 21, 2019
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    Full Name:
    OldJohnBoy
    I've been considering the purchase of a later-year 458 Italia for the past few months. I was following a 2015 low-mileage Ferrari-certified model at a dealer with five other 458 Italia models. Another non-dealer recently added two low-mileage models.

    During the last two weeks, the dealer is showing all of 458 Italia as being sold. The two models at the non-dealer have also disappeared from their website, so I am assuming that they have been sold.

    Is this normal for people to be buying themselves an early Christmas present at this time of year or is something else happening with the market for low-mileage 458 Italia models?
     
    DFT3 likes this.
  2. AlfistaPortoghese

    AlfistaPortoghese Moderator
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    Mar 18, 2014
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    Nuno
    #2 AlfistaPortoghese, Nov 17, 2019
    Last edited: Nov 17, 2019
    Same in my neck of the woods. Some independent dealers have a waiting list for 458s, demand being steady and overcoming supply. Most EU markets have radically different characteristics than US markets (my country has but a handful of 458s for sale across the nation for instance), and 458s here aren’t that common to pop up for sale, namely in a nice spec and acceptable mileage.

    Some people believe the 458 is a special Ferrari and the last of its kind. Subsequent Ferrari launches have proved this assumption to be 100% correct. What you see is a palpable consequence of that in the pre-owned market. I had to fight and out-pace 2 people to get my 458, one of them said he wouldn’t leave the dealer until he was allowed to buy it, even though I had already put down a deposit before he had even arrived.

    I’ve heard dozens of stories similar to yours. Nevertheless, rest assured you will eventually find a 458 that suits you, there are a few of them out there, namely in the US. The trick is once you find a unit you fancy, don’t go home to think about it. Just pay up. The best part is: you won’t regret it.

    Kind regards,

    Nuno.
     
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  3. C50

    C50 Formula 3
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    Aug 19, 2016
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    They may have been sold but there is a significant difference for market assessment between end-user vs dealer-dealer sales.
    What region are you in? Are seven 458 sales in mid-November typical or unusual?
    Search nationally and if you find the ones you were following listed elsewhere in the coming weeks, you’ll have your answer.
     
    Mayrivercrab likes this.
  4. DFT3

    DFT3 Rookie

    Sep 7, 2018
    3
    I don't know, maybe it is specifically around the new launches (i.e. people don't like what the future holds).

    Higher mileage examples can be found, however. A 2012 with 27k miles and in nice shape just sold for $135k.
     
  5. IndianaNative

    IndianaNative Rookie

    Jul 21, 2019
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    Full Name:
    OldJohnBoy
    The dealer cars were located on the East Coast and listed at prices ranging from $205K to $258K. The non-dealer cars were located in the Mid West and listed at prices just under $200K.
     
  6. Ahmed Rahim

    Ahmed Rahim Rookie

    Sep 20, 2019
    1
    Full Name:
    Ahmed Rahim
    Just got. 458 Spyder...just almost competing with different buyers. Seems like it’s heating up


    Sent from my iPhone using FerrariChat.com mobile app
     
  7. Natkingcolebasket69

    Rossa Subscribed

    Usually end of year is a bit slower for Ferrari sales.Spring is peak from my experience


    Sent from my iPhone using Tapatalk
     
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  8. Adamtensta

    Adamtensta Karting

    Jan 9, 2019
    133
    Scandinavia
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    Adam Tensta
    Very interesting! In Sweden they don´t get sold that easy if you don´t have a good specced one. However, since the Swedish currency is pretty low right now, lots of cars gets exported and sold abroad. The 458 spider that I got was out for sale for probably 3 months before I bought it. It´s was in the outskirt and not in the capital city. The other one the same dealer has is still unsold. But that´s for the Spider. The Italia gets sold much quicker and are usually $30-50k cheaper depending on if you buy an imported one or a domestically sold one. The domestic ones goes away fairly quickly since they don´t pop up that often. Having that said, there are only 16 458s on the Swedish market at the moment, where of two are speciale, 5 spiders, the rest Italia. Of those, only 4 are domestics.

    It took me probably a year to find the perfect domestic sold Spider with the "right" combo.

    I´ve seen the price on Italia go up with $20k the last 12-24 months, while Spider has been fairly stable at $200k, slight jump of $10k
     
  9. italiafan

    italiafan F1 Veteran

    Jul 19, 2006
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    My dealer says they can’t keep them in inventory, they sell very quickly. No doubt is primarily due to the price point for such an amazing car.
     
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  10. Adamtensta

    Adamtensta Karting

    Jan 9, 2019
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    Adam Tensta
    How much do they go for in the US?

    Sent from my LYA-L29 using Tapatalk
     
  11. 09Scuderia

    09Scuderia Formula 3

    Nov 20, 2011
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    Tim&Julie
    dealers dropping prices in anticipation of continued over saturation of the sports car market.
     
  12. AlfistaPortoghese

    AlfistaPortoghese Moderator
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    Mar 18, 2014
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    Nuno
    True.

    Also: my official dealer always asks me if I want to sell my 458 when I come in for my yearly maintenance. They told me they feel confident they could resell it the same week at the latest.

    Kind regards,

    Nuno.
     
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  13. Graz

    Graz Formula 3
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    Oct 15, 2012
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    Why? Easy answer. The 458 is just that good. :)
     
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  14. italiafan

    italiafan F1 Veteran

    Jul 19, 2006
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    #14 italiafan, Nov 18, 2019
    Last edited: Nov 18, 2019
    I haven't been looking at the market myself, so not exactly sure, but I believe ~$150K range. I'm sure others here can give more accurate numbers.
    My dealer has mentioned to me that he would have no trouble selling my 2013 458 Spider in Triple Yellow (even with 32K miles).
    I suspect the reason is the price point is significantly below 488 Spiders, on par with many Porsche's, and the 458 Spider is one hell of a car.
     
  15. ttforcefed

    ttforcefed F1 World Champ
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    Aug 22, 2002
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    NA motor, insane sound, and a beautiful design lead to emotions which leads people to write a check. At 150K to 200K 458s are money well spent.
     
  16. Adamtensta

    Adamtensta Karting

    Jan 9, 2019
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    Adam Tensta
    Curious, since the demand is so high in the US, do people usually buy cars in this price range on loan or they cash it? What's most common?

    Sent from my LYA-L29 using Tapatalk
     
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  17. willcrook

    willcrook Formula 3

    Feb 3, 2009
    1,105
    UK
    future classic, zero depreciation, as fast as you'd ever realistically need and beautiful

    it's a no brainer tbh, esp with newer ferraris losing quite a bit of value compared to the past, Mclarens losing a lot etc
     
  18. Adamtensta

    Adamtensta Karting

    Jan 9, 2019
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    Adam Tensta
    Most insurance companies don't insure McLaren in Sweden. My ferrari costs me $3k per year to insure, but a McLaren that costs less they won't insure. For that reason, and also the fact that there are too many issues with them makes them really hard to sell here

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  19. Viper830tt

    Viper830tt Karting
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    May 10, 2017
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    Im waiting on the sidelines for a 2013 spider. I was hooked on this car after trying an italia and spider the same afternoon. Ive entertained the idea of a 488 spider but prefer a 458 given the sound and style. However, i might be tempted to jump to the 488 camp because i have a tough list to satisfy as far as color scheme. Ill wait til spring before i do that: it sounds like there are more 488s headed for trade in... Tough market right now.

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  20. ttforcefed

    ttforcefed F1 World Champ
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    Aug 22, 2002
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    most of the people i know pay cash but im sure its both
     
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  21. AlfistaPortoghese

    AlfistaPortoghese Moderator
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    Mar 18, 2014
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    Same here. To my knowledge, loans represent virtually zero of modern (post-2008) Ferrari sales, new or pre-owned. In my country at least, loans are more frequently used to buy the cheaper, vintage Ferraris (Mondials, 348s, etc).

    Kind regards,

    Nuno.
     
  22. Adamtensta

    Adamtensta Karting

    Jan 9, 2019
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    Adam Tensta
    Where are u based?

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  23. SLDriver

    SLDriver Formula Junior

    May 1, 2005
    300
    Full Name:
    JJ
    Interesting. I would say up here in Vancouver it's mostly leases. You do have cash buyers but most cash buyers up here are using LOC's which is still a loan albeit at a lower rate.
     
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  24. Viper830tt

    Viper830tt Karting
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    May 10, 2017
    99
    I'm going with a loan regardless despite having the cash in hand. Im not alone in that either. Depends on what interest rate you can find.

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  25. Rostami6

    Rostami6 Formula Junior
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    Jun 24, 2013
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    Austin TX
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    Amir
    So I was in the market for a 458 and started looking around July-August (I ended up with a 488). The closest 2 dealers to me still have pretty much the same 458’s since I started looking. I only see, or rather not see, one of the cars I was looking at. 3 out of the 4 car I was tracking are still there.
     
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