I have been passing the last hour or so looking at all the 355s and 360s for sale on the many websites that people advertise cars on. I am feeling a little depressed because I am looking at all these cars that are for sale for rock-bottom prices. When times were booming in the late 90s and early 2000s, so many people who came into money bought these beautiful pieces of rolling art. Unfortunately, many, if not most, of those people did not take care of their Prancing Pony like they should have. Now we have a plethora of cars with no service histories, beat-up interiors, etc that will most likely never be restored to new again. The problem is that most people who see these cheap deals don't quite grasp just how much it costs to replace parts, leather, etc in these cars. And when people buy them thinking they can fix them up they realize what they are into and just sell them to someone else, most likely taking a loss on the deal. It makes me wonder...the market for these cars has dropped significantly over the past 12 months. However, and even more so with the 360s, what will become of these cars? Will they eventually sit and rot because people will buy them for +/-$30k and can't/won't afford to fix them? What will then happen to all the good examples out there? I know that the 355/360's market value has been beaten to death in these forums, but think about it....look how many cars are on the market that are a scary purchase decision. I think that those cars that are left to waste will eventually widen the gap between those and the good examples. Now, I know I didn't buy my 355 as a financial investment...but I believe that over the next few years the good examples will sustain today's values while the "storied cars" will continue to plummet without dragging down the rest of our cars. Any thoughts...?
Basically is comes down to the economy. When the economy is up, Ferrari prices hole rather steady. When it is down they don't.
Sadly I think prices will continue to deteriorate. The bottom line is eventually they will not be worth much. It seems everyone wants something new something better. Some things have just got to depreciate to a certain point of not being worthwhile any longer. They have also made too many of the damn things. Look at the 348 specials yet they are also relatively low priced. Every day I wish I would have waited. The 360 is so much more of what I would have liked in a car. Or even the gallardo. I come from a fairly small city and wanted a car that was a bit less expensive. Maybe not as showy and flashy as a new ferrari. I went with a 348. I was happy, I like to tinker and I can with the car. However when I head out to the country club all I see is 360's maybe 7 or so of them!!! The individuals who bought them did so because it was a ferrari not because of some inner longing for the car. They are just a status symbol to most. You never used to see a ferrari lambo or porsche here now they are common place in my city. Hell we have enzo's and carrera gt's even. I have now decided to go with a new gallardo andam awaiting my car. I will keep my 348 and maybe in the future try to find a 355 of some variant. I have just always like that car. I admit I am cheap and hate to buy new but it seems that time has really caught up with us. I want to drive my car the cost is not as large a factor when entering into a new car for me. It is the reliablity of the car. I think the newer ones are more reliable and possibly a better buy with more power and more comforts. It sounds stupid I know. I hate that the cars are wasting away. But why spend the cash when the value will not hold.....
It will be the natural progression of time and economics, eventually most of the fleet will fall into enthusiasts hands and be restored. As these models age they become "old Ferrari's", that is they are not the latest and greatest and they are not yet classic. So this causes a slump in the value and the condition suffers as a result. The economics will turn again, as they have for the 3x8 and esp the 246gt. A 355/360 owned by an enthusiast will always be kept in better condition than someone who owns it for status. Just a matter of time for the fleet to come back to the enthusiasts.
I agree prices will continue to decrease but I also agree that a no stories fcar, well taken care of and with all records will ALWAYS demand a premium. Unfortunately with prices continuing to fall, a more array of owners will emerge that cannot maintain the expenses and costs necessary to keep these beauties in top shape. Also, a Ferrari is a luxury. If society finally evolves and learns to live with in its means, who knows what will happen...
The real problem is not just ferrari producing too many cars...but others also producing too many cars...what do you think will happen to the SLR in a few yrs ? The vipers ? The z06 ? There is just too much variety, and a 355, 360, 430...even the 550 even though low productions numbers will most likely never appreciate again. Once people get a bill for 8K to do a serivce, let alone fixing a leather dash...they will easily move into a used M3. The days are over....everyone is better off to just face it...you cant fix 360s like you do a carb 308 ...therefore...by the cheapest you can, or the most expensive you can...its still gonna cost you large to get into a ferrari...and i just dont think the new owners coming up the ranks will want a worn out ferrari when they can buy something much newer and maybe faster and more comfortable and cheaper to maintain.
+ 1 could not have said it any better Anything prior to 355 is more so bought for the passion and love of ferraris. Today, more so the bang for the buck and best performance numbers...newer and cheaper to maintain...
And that is the difference between an enthusiast and someone who just wants a fast car. There will always be Ferrari enthusiasts, sure the trend is changing where now you can buy a 5 seater station wagon that will accelerate faster than my 355 but as people age the realise its not all about 0-60 times. As far as not being able to fix a 360 like you can a 308, that is a fair claim on the face of it, but remember when 32mb was the standard hard drive in a computer? The world is changing and don't underestimate the power of technology. Sure the way in which someone will fix up an old 360 will be different to the way a 308 is worked on, but it will be possible to work on both at home. The tools of the trade will become more readily available as the market demands them.
There isn't many! I did a run with a mate in an RS6 to palmy and the reality is that on the road, you can't go much faster than a the 355 goes. Most people run out of balls!
you gys are making me sad...i just bought a 348 spider...have to pick it up this weekend...your making me feel like a made a bad decision to buy it! i have always loved ferraris but am only now able to afford one. i figure i can afford to maintain it properly. but this thread makes me think its a huge waste of money SO STOP IT
You need to look at the bigger picture....parts for 360s and the amount of cars made will not make it less expensive than fixing a 308....what im saying is, there is alot of choice out there for many cars. People get bored of cars nowadays, so the enthusiasts you talk about will be for a low production ferrari....not a 360 thats pieced together, or a 355...or a TR. THe ferrari name will change soon enough, just look at the new 458 italia...it has front lights like an audi....when did ferrari start copying other automarkers ? Look at the gallardo...80% similar to a R10 now.
Every cloud has a silver lining. Yes, the city now values my 355 at 35k. Guess what? We pay more property tax on our Odyssey, and insurance is cheaper on the Ferrari too. I have been cruising the 360/430 forum lately. Right now there is a thread of a busted (new style) cam variator failing leading to 20k in engine work. A flashing slow down light. Fuel smell in the engine bay. F1 failures. As the 360 and later models get older, the perceived better reliability will probably start to fade. These are all complicated cars, and keeping them running takes money. I looked very hard at trading my 355 to another model (360, 430, CS, G, G-spider, G-SL...). At the end of the day, this is the car I want to drive. And now it is just a little bit more affordable. What's not to like?
Why sad F355's? Why are you sad?? I'm not sad. I'm actually quite happy that prices for these cars are coming down and down fast. I don't and won't care about those cars that can be had for $40K obviously they are sh*t anyways. I'm talking about the pristine and much cared for ones. Note: I'm not talking about mileage but rather car's overall conditions and proof of regular maintenance. Market place will automatically weed out the bad, the neglected and the storied cars. This leaves the absolute cream of the crop at $70K - $90K for true enthusiasts/collectors to sample. Or you can go the other way...for $60K you can pick a fairly decent car and do some work and bring it back to its former day glories. Either way, you'll have to pay to play. But who cares. We're talking F355's here.....THE BEST CAR IN THE WORLD EVER!!!!! [size=+2]Long Live the F355's[/size] Maybe it's time for me to go on the hunt for my second F355 just maybe
I agree, but advertising makes people believe that 0-60 is what counts, in real life its more about balance and driveability, as well as power and handling. Must have been a fun drive I never mentioned how expensive it will be to correct a "sad" Ferrari, of any model. I am an enthusiast, I am the "enthusiast" I speak of. As much as I love the limited number cars I am equally passionate about my 355 and about models like the 512TR or the 328. I am not alone in this passion and it is short sighted to think that the modern Ferrari will be neglected or unable to be fixed. Look in the 308 section, there are current restoration jobs happening on these cars around the world, most of these restorations will cost more than the cars value and that's not including purchasing the car. For people who share in this passion the cost is irrelevant.
I agree, i guess what im saying is as time travels forward, there will be less of these enthusists, and many more cars, and cars to choose from...hence i see the art form decreasing. All i swas saying, maybe we are saying the same thing, just coming at it from different angles.
I think the price reduction are just a function of the cars and their age. There are a lot of great cars at low prices because they need certain maintenance items deemed by the "experts" to be necessary-whether they are or not. Many of these cars will be great drivers - not show cars- and represent a great value. I sold my 355 when there were funds to be expended to keep it relatively perfect. The truth is the car could have been driven for another 3 years with only minimal cost. The damn thing was as reliable as a Volkswagen or Honda. A truly great car and I hope the new owner is having half as much fun with the car as I did. Some people buy the cars strictly as investments and some buy them only for fun. The majority are owned by people who think about both sides and come down somewhere in the middle. These will always be one of the best looking and driving Ferraris ever made. The lower cost just lets more people who will love them own them.
Because I don't understand how someone could buy a Ferrari without having an innate desire to take care of her the way she needs to be taken care of. I drive my 355 a lot. I don't cry if she gets a rock chip or whatever. But I do take precautions with the interior and making sure her services are up to date. I doubt I'll ever sell my 355...I just hope that potential FCar owners researching this site understands that the difference between a $45k 355 and a $65k services up-to-date and all inferior OEM parts replaced (headers, cats, etc.) 355 is a lot less headache and potential future problems. PS. I really love my 355.
Don't be sad - you did not make a mistake. If it has been your dream to own one, and you finally can, then it is not a mistake. It is only money, and that money does not get buried with you in your coffin. I am not implying that you should spend every penny you make recklessley before you die, but rather if you can afford it after you have taken care of your family and your other priorities, then WHY THE HELL NOT!!!
The following thread shows my point...hopefully it won't be an expensive fix...but you never know with an FCar... http://www.ferrarichat.com/forum/showthread.php?t=262697
Unbelivable. And not once did i wish I was in the RS6. What is a Ferrari for? Whilst it is stupid of me to argue that speeding is safe (what in this life is) I never bought a ferrari to a)look at it or b)be seen in it. I bought it to drive it. And sometimes conditions occur where it is perfect to drive to the extents that it can be driven.
