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an ethics question for 430/360 owners

Discussion in '360/430' started by photonut, Apr 4, 2010.

  1. photonut

    photonut F1 Rookie
    Owner

    Nov 16, 2007
    4,079
    Michigan
    Full Name:
    Joel
    why not reveal how much you paid for your fcar? i bought my 2nd f430 18 months ago from my local dealer. i am not ashamed to reveal the price i paid (to fellow fchatters). it was $240K, the going rate at the time for a low mileage '06 spider. there seems to be reluctance or an unwritten convention amongst fchat members to NOT state what they paid for their vehicles. who are we hiding from? aren't we all in the same pool here? many of us will be trying to unload our older vehicles as we move up to the 458. so what is wrong with us having a better idea of what our vehicles are worth in the current marketplace?
     
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  3. SeaNile

    SeaNile Formula Junior

    Jan 25, 2010
    677
    West Chester, PA
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    John
    #2 SeaNile, Apr 4, 2010
    Last edited: Apr 4, 2010
    I've posted what I bought my 00 360 for about 10x. I think it only helps us understand the market better.
    2000 360 Modena 8500 miles, recent major done during trade in, 6sp advertised for 84,700 bought for 78,500
     
  4. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    13,309
    I'd guess some of the owners bought the cars with the hope of reselling them at a higher price. If they state how much they paid, they may have less a chance of marking the price up when it comes to sell (potential buyers may not agree with the markup at all or the amount). I know if I ever bought an F50 or something that would increase in value, I wouldn't be posting the sale price. 360/430 is a little different I guess since the prices are dropping.
     
  5. chrmer3

    chrmer3 Formula 3

    May 19, 2006
    1,718
    USSA
    Full Name:
    Chris
    Its a personal decision. Some people believe no discussing of $$$$$'s paid. Some see it as "dick measuring" some may see it as embarrasment they paid too much, some may of stole it & wish to make a profit, some its just a personal choice...

    someone seems to always make an insulting comment after someone posts a price paid.. most likely a non-owner or a real tool... I have seen that done enough to discourage anyone from listing prices paid...

    Most of us on f-chat know the current approx value of our rides, ebay, talk here, dealerships,, + or - 10-20k...

    my 2 cents..
     
  6. Back Marker

    Back Marker Formula Junior

    Aug 26, 2006
    539
    South
    Full Name:
    Tom
    +1

    I'm more comfortable telling friends or PM's to people I trust to keep it private than posting on a public forum.





    Why not ask people to post their W2's or 1040's? A lot of people prefer to be private when it comes to personal finances.
     
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  8. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    13,886
    Charleston, SC
    Full Name:
    Curt
    hmmm...like posting what we do, how old we are... or having a complete profile on Ferrari chat? true transparency... ;-)
     
  9. Back Marker

    Back Marker Formula Junior

    Aug 26, 2006
    539
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    Tom
    Unless one pays all cash, do they really know? Factor in a trade, financing, etc and it all gets muddied up.

    e.g. The bill of sale could say $200k for a Scud, but also involves a trade where the buyer was allowed $75k for their 2008 F430 trade-in. In reality the buyer paid $200k + a 2008 F430, but when asked, they are more likely to say they only paid $200k for their Scud.

    or, the bill of sale shows $200k sale, 7 year lease, $5k/mo payment with a huge residual and heavy prepayment or buyout provision.


    You have to know the ENTIRE transaction.
     
  10. photonut

    photonut F1 Rookie
    Owner

    Nov 16, 2007
    4,079
    Michigan
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    Joel
    exactly my point. in the minds of some individuals, discussing the price you paid for a car is akin to telling the world your w2 income!! as fcar owners, we have all paid the down stoke; the question is how can we determine the vehicle's current value as the resale market seems to fluctuate quickly?

    some of us feel the need to hide this information. i have no problem with transparency in this forum, however i would be reluctant to share this information in a more public arena.
     
  11. Chadly

    Chadly Formula Junior
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    Mar 21, 2010
    290
    Bothell, WA
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    Chad
    When people ask me how much I paid for my car I tell them I paid $5,200 at the drug seizure auction plus the $150 auction fee. Then proceed to tell them they should goto the next one because I hear they seized a few more Ferraris. Its really no ones business unless the person who bought the car wants to make it your business.
     
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  13. TheMayor

    TheMayor Eight Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    83,365
    Vegas baby
    When I drive down the strip in Vegas, I get people all the time who yell at me (usually 18 year old kids) "how much did you pay for that thing?"

    I hold up 3 fingers.

    They go "300 grand!"

    I go "No. 3 dollars. I won it with a $3 bet on a slot machine!"

    Then, I drive off... you should see the look on their faces!

    So much for full disclosure.
     
  14. Back Marker

    Back Marker Formula Junior

    Aug 26, 2006
    539
    South
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    Tom
    I saw this in another thread. This is a nice way to ask, that will end up getting the desired results. It does not ask specifically for the amount, but does give the poster a very good idea of the market. If the poster wants to know a more precise amount paid, they can ask to be sent a PM.

     
  15. MamoVaka

    MamoVaka Formula 3

    Jul 31, 2006
    1,394
    Los Angeles, CA
    Full Name:
    Pano S.
    When people ask me how much I paid I just shrug it off.. if they ask me what I do, I get annoyed and I always say, "gay porn" it ALWAYS ends the convo and makes everything uncomfortable.. I love it.
     
  16. Robdownunder

    Robdownunder Formula Junior

    Feb 6, 2009
    580
    Australia
    Full Name:
    Rob
    Whatever you guys in the USA pay, consider yourselves extremely fortunate because here downunder you would pay double or at least another third in equivalent money for the exact same Fcar.

    For staggering figures to show what the market is like here (which is totally BS), go to carsales.com.au and type in F430 and see if you need to lie down after it.
    Rob.
     
  17. Way2fast

    Way2fast Formula 3

    May 24, 2006
    2,064
    Santa Barbara County
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    Sam
    I just tell them my brother won the lottery and bought it for me.
     
  18. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
    11,253
    Colorado
    Full Name:
    Dave
    I've always told anyone who asks except maybe in a public setting where I might say "my wife bought it for me". No big deal. I do not reveal how I make my living but I have good reasons for that. Plus, telling people what you do allows them to pigeon hole you based on their own biases.

    Dave
     
  19. raywong

    raywong Formula Junior

    Aug 29, 2004
    661
    Hong Kong
    Full Name:
    Raymond
    import tax is high in Hong Kong,10 yr old 360 coupe cost around $120k USD, the 430 coupe around $250k. The current model gtr cost around $100k used.
    Gasolin price is also double
     
  20. zippyslug31

    zippyslug31 Formula 3

    Sep 28, 2007
    2,072
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    Kevin M.
    My response to the the original question would be simply "decorum".

    In life I don't go around telling people how much I make, nor how much I'm worth, nor how much I paid for my house, nor any of my toys. To me it is tacky to cram that in people's faces that I'm talking to, especially when they haven't been nearly as fortunate as me. Personally I am uncomfortable when others give me TMI about their money, etc. It's none of my damn business!
    This "life policy" is just something that comes across in a lot of aspects in my life and isn't as if I'm just holding out on f-chat.

    But, since the web is largely anonymous and I don't know 99.9% of the people on this site personally, then I don't have much reservation in saying that I paid $115k for mine a couple years ago.
     
  21. NSXLuvr

    NSXLuvr Formula Junior

    Oct 3, 2006
    559
    Tx
    Full Name:
    Ritesh
    I agree it is tacky!

    But how does telling sometime the price of the car really tell them anything about your personal finances? Its not like he is asking you much you make, your W2's or what is your house payment? In today's world a guy owning a F355, F360 or F430 could be making $75K or $7.5M!
     
  22. forgeahead

    forgeahead F1 Rookie
    Owner

    Sep 16, 2008
    4,326
    Rocky Mount, NC
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    Ray
    I paid 110 for my '04 360 spider (9500k miles) in October. Just traded it (11500k miles)
    and got 90. I am ok with that. There ya go.
     
  23. Eric360

    Eric360 Formula 3
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    Jan 11, 2010
    1,346
    San Francisco, CA
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    Eric
    What are you getting next?
     
  24. lowyder993s

    lowyder993s Formula Junior
    Rossa Subscribed

    Feb 21, 2006
    503
    Leucadia, Ca.
    http://www.ferrarichat.com/forum/showthread.php?t=279746
    Post #20...care to reconcile ;).

    BTW...I did my part keeping 430 prices up this weekend, full asking 130k.
     
  25. zippyslug31

    zippyslug31 Formula 3

    Sep 28, 2007
    2,072
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    Kevin M.
    This topic seems to imply the notion that what everyone paid should be public knowledge.

    Yep, I was tacky when I asked how much the other guy paid and have apologized to that poster in a PM since I thought he was asking for the collective peanut gallery's thoughts.

    To me these reconcile given the different contexts.
     
  26. lowyder993s

    lowyder993s Formula Junior
    Rossa Subscribed

    Feb 21, 2006
    503
    Leucadia, Ca.
    Good on you
     
  27. SeaNile

    SeaNile Formula Junior

    Jan 25, 2010
    677
    West Chester, PA
    Full Name:
    John
    I don't think it is tacky at all on this forum. We are not walking around our neighborhood or local mall with a name tag and the price of the car on display. This is a Ferrari website for people that either admire the cars, are owners or someday hope to be owners. I can say, without a doubt, if it wasn't for people posting what they paid for their Fcar I never would have bought one.
     
  28. Chadly

    Chadly Formula Junior
    Silver Subscribed

    Mar 21, 2010
    290
    Bothell, WA
    Full Name:
    Chad
    The bottom line is its worth whatever someone wants to pay for it If someone wants to pay out the yahoo and they are happy with it who are you to judge? Just go down to the barret jackson if you want to see people spend their money carelessly!

     

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