Are 360 prices starting to flatten? | FerrariChat

Are 360 prices starting to flatten?

Discussion in '360/430' started by slvr993, Jan 10, 2015.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. slvr993

    slvr993 Rookie

    Aug 16, 2013
    49
    West Chester PA
    Full Name:
    Jeff
    I love the 360, but as one of my toy cars I can't really jump in until most of the depreciation has hit. So for those much more experienced than I am where's the bottom?
     
  2. MPtolomey

    MPtolomey Formula Junior

    Jun 8, 2014
    538
    Odessa, FL
    Full Name:
    Mark Ptolomey
    Time to jump in!
     
  3. toil

    toil F1 Rookie
    BANNED

    Apr 23, 2014
    3,534
    360s have gone up some 20-25% in a year in the uk. Depreciation time is over for sure.
     
  4. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
    Owner Silver Subscribed

    Nov 29, 2009
    24,500
    Honolulu
    Full Name:
    Kevin
    I think good cars have flattened already. What else are you considering and how are those cars doing?
     
  5. DiabloTerr

    DiabloTerr Formula Junior

    Aug 3, 2010
    473
    Michigan
    Full Name:
    Terrance Findley
    The 360 market will not settle until F430 prices stabilize. As long as the F430 prices keep dipping lower into 100k's, expect 360 prices to continue to fall. It is just a fact that most people will probably go for the F430 if it is just 10-15k more than the 360, so the market will reflect that bias.
     
  6. star4747

    star4747 Formula Junior

    Dec 28, 2010
    363
    Midwest - USA
    Full Name:
    Rick
    Here we go again....

    It's a Ferrari

    You get what you pay for or you pay for what you get.
     
  7. Voda

    Voda Formula 3

    Oct 10, 2013
    1,808
    Seattle
    Umm ... let's see... 360 produced from 1999-2005, so anywhere from approx. 10-15 years old....in 2004 an F1 Spider retailed for $182K and now can be had for $90K .....

    So what is your question???? You say you want to wait until "most of the depreciation has hit."...that was like a couple years ago. What kind of depreciation are you looking for???
     
  8. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    16,527
    Charleston, SC
    Full Name:
    Curt
    Well in 12 months 458s will be $120k, 430s will be $80k and 360s will be $30-40k... Riiiight!
    Seems this thought process for "mass produced Ferraris" has been mentioned occasionally over the last few years. How fully depreciated do people expect a 360 to go? To 30-40k? A new Honda Accord or a 360. Yeah keep dreaming. Inflation will keep prices where they are today. Wealthy dont need to deleverage like in 2008. If you're counting on aspirational buyers making minimum payments on the loan who need to sell, a smaller proportion of the market now. The banks are coming after them for the sale losses now on that loan...
     
  9. slvr993

    slvr993 Rookie

    Aug 16, 2013
    49
    West Chester PA
    Full Name:
    Jeff
    #9 slvr993, Jan 11, 2015
    Last edited: Jan 11, 2015
    Didn't intend to stir the pot. Its just when you look at charts like those on Haggerty ( its one data point - good or bad ) and see values for a 2004 360 Spider F1 - Concours condition drop 35% ($127K - $84K ) from Jan 2012 to Jan 2015. Its a natural question.

    I'm new to Ferrari having spent a ton of time with Porsches ( I still have a couple) . I don't really understand the Ferrari market yet - but I'm working on it. My intention is a 308 for the reasons anyone who was an 80s teen wants one, but while I search I'm continually distracted by the lines on the 360 - very, very appealing. And while I don't do this to make money or break even, in fact I know all in I'll be upside down quickly as I am with most of my toys, I try to be a little smart about when I jump in.

    Everyones input is very much appreciated -

    Thank you
    Jeff
     
  10. jpk

    jpk Formula Junior

    The only 360s I see with dropping values are those that have accident history or are in need of repair. Well maintained, well running, are holding steady.

    Good examples of desirable cars (most Ferrari, all Lamborghini, some Mustangs, some Porsches) will be fully depreciated by this age and will maintain their price in nominal if not inflation adjusted dollars. Where you may take a hit is on the cost of parts and maintenance to keep the car in desirable condition. But even then, once properly sorted, the car will probably not be an ongoing concern.
     
  11. IDriveM5

    IDriveM5 F1 Rookie

    Jul 2, 2012
    2,675
    Central Ohio
    Full Name:
    Raj
    Jeff,
    This is a suspicious data point, I'm not sure why it's like this but it's not that normal. Besides, the 2012 values have little to do with where we are paying at present. I've had my 360 Spider since April, 2013 and I'm fairly confident that if I were so inclined, I could sell it essentially flat today. I've put 5k miles on it and enjoyed each one of them.

    The most important point to remember in this discussion is not whether depreciation is flat or inclined (I personally believe it's flat and will be influenced pretty much by mileage and condition only from here on out) but what will be the cost to keep the asset in prime condition. That's where you'll see some outflows, so don't worry too much about the market depreciation. Think more about what you're willing to spend in acquisition and ongoing costs for the vehicle, and if that amount is something you're comfortable with. Good luck, the 360 is a fantastic car.
     
  12. singletrack

    singletrack F1 Veteran

    Mar 16, 2011
    5,805
    Pittsburgh, PA
    Has to be fairly close. Certainly it is close-enough that, if you want a 360, I would jump in.

    308 eh - much different driving and ownership experience. 308 is definitely appreciating.

    Can't go wrong either way - but it will be a much different thing. I have a 430 and 308 if you have any questions.

    Good luck!
     
  13. abedh

    abedh Karting

    May 12, 2013
    115
    Woodinville
    Full Name:
    Abed Husseini
    It is hard to predict the Ferrari market. Coming in to F-Chat and asking about the price of a Ferrari and if it will go any lower is like walking in to a store and asking when will a specific item in the store be available at the lowest possible price. LoL!
    Ferrari's are no longer a limited production vehicle as they once were ( with the exception of a few limited models ). Really the Testarossa was the first mass produced Ferrrari and it has not changed since then.
    Looking at the last few models that have come around that are not yet "Classic Cars" the prices continue to decline. 348's can be had in the 40's 355's in the 50's and now 360's in the 60's and 70's. Outside of the 360CS there is nothing special about a 360 and until they hit classic status my guess is they will continue to decline in price.
    F430's will surely put pressure on the 360 as it is generally a better and more desirable car, that said, unless you have a Scuderia they will have the same fate as the 348 and 355. Same with the 458 ( leaving out the Speciale ).
    The proof point on hitting classic status improving the price? Look at what's happened to 308/328 and Testarossa pricing in the last 7 years. Shot through the roof, not too long ago a good 308/328 could have been had for 30K, a Testarossa for 50K and a 512TR for 70K.
    That's my opinion anyway, as they say, opinions are like ..., everyone has one.
     
  14. Ron328

    Ron328 F1 Rookie
    Silver Subscribed

    Mar 10, 2003
    2,627
    Willamette Valley, Oregon
    Full Name:
    Ron


    This.
    Cheap 360s will not be cheap in the long run. The well-sorted ones still command a premium.
     
  15. 355dreamer

    355dreamer F1 World Champ
    Owner

    Apr 3, 2006
    10,476
    DC Metro
    Full Name:
    L.C.
    Traditionally, Ferrari values decline for the first 20-25 years post production.

    After that, they typically appreciate. I think the 360 still has a bit further to go.
     

Share This Page