Biggest impact to a Ferrari's value

IMO a Ferrari should be driven to high miles and well loved , but in the game of highest market value, no substitute for low miles (sub 15k) and recent services. restorations are usually less dependable due to aftermarket parts and materials. values fluctuate wildly after that point even on very nice cars.

 

One car can look to be 100K miles old when its only 10K miles on the clock.
Another car can look 10K miles old when it's got all of 100K miles on the clock.

One motor can run like a top with 100K miles on the clock if its been taken care of.
Another motor can run like the motor is on its last legs with 10K on the clock.
A stethoscope can reveal wonders about the engine that no amount of documentation can hide.

In both cases, above, I would select the car with the higher milage.

 

And mileage displayed may not always be actual miles anyway.

Better to evaluate cars on a case by case basis than to try to come up with a formula. The only rule I can think of that works 100% of the time is to buy the best example you can find/afford if you plan on keeping he car.

 

there is more to the value then those items color and options has a big effect on salebility which is basically value.. mileage is a significant value factor but a again it depends... if you have a 2 year old car with 20000 miles that would be a lot as so many cars are available with far less.. but if you are talking about a 1999 550 20000 is not an issue but 70000 would be.etc..... IMHO

 

Mileage becomes less important as the car ages - virtually of no value for classics. Modern cars are also much more complex, so service history is important and should be readily available.

You really have to separate classics vs modern (2000 +) cars.

For classic:
-Repaint / interior / cosmetic work
-Lack of service history / maintenance
-Mileage

Modern:
-Mileage
-Lack of service history / maintenance
-Repaint / interior / cosmetic work

 

I think the one missing here is a car that just seems to have had a general abuse or lack of care.

Ripped seats, bad paint scratches, door dings, dirty motor, scuffed rims, worn tires, stuff not working because the owner appeared to be too broke or uncaring to fix it.

The other things missing here are a big accident and a salvage title.

 

Running it into a wall.

Is it an investment or a car you want to drive. I personally just bought my first Ferrari (2015 California T). I love to drive it. It's a blast. I come up with excuses to drive the car more. I personally would not buy a Ferrari if I could not drive it. JMO

 

The answer is - "it depends"

Ferrari's from 48 to 69 then its all about condition & quality of restoration. Mileage only adds value when its ultra low - one owner time capsule car. ( in running condition)

Ferrari's from 70 - 1990, its still more about condition & restoration especially for the 12 cyl's.. and Dino 206-246 cars. Once you get to the 308 series then, condition still applies but there are some of those out there that are just garage cars that have never moved from the beginning with factory test mileage on them... that adds tremendous value.

sub 10K mile cars will command higher prices vs. better condition & higher miles. but its getting close... I'd say another 10 years and these cars will be in the same 48-69 category.. it will then be about restoration quality.

Modern cars - 1990 to present.. they are used cars... typical mileage issues apply - higher miles = lower cost. condition applies across the board. I would agree a higher mileage car with lots of receipts for work = a car I would buy vs. low mileage and no records.


highest value to low miles and full records all dealer performed. with the advent of all the computer systems and actuators and sensors ... time & replacement restoration will pay a bigger part in overall value.

I still love my Ferrari ... and its basically doubled in value from what I paid for it, but it is a car and Id rather drive it than preserve any investment potential... for now at least.

 

Lack of service history doesn't phase me. Do a PPI, negotiate appropriately, and then bring the car current on all of its needs. I almost prefer it that way to be honest - because then you get to pick the shop and know for certain that the car is 100%.

 

For a car made in the last 40 years, title status. Salvage/rebuilt title may as well make the car radioactive to buyers regardless of the quality of the repair work done.

Not sure anything really impacts the value of pre-Fiat cars, the values are so high today that the cost of servicing the car and doing things like tires and brakes are so insignificant relative to the overall value of the car. Wouldn't surprise me if a buyer of a seven-figure Ferrari has it immediately fully serviced upon delivery regardless of what the seller claims.

 

I also think it is possible to specify color combinations that greatly hurt value compared to standard red/tan. Some models only look good in certain colors. That Mondial in metallic pea green with blue interior will sell for less.

 

It's also car dependent. If I found 288GTO with 200,000 miles, no history, and needing a paint job for $100,000 I'd buy it.

 

This is a valid point.

 

Would the PPI not include a note about the lack of any service history and service records?

If the PPI does mention the lack of history/records, then by negotiating a lower price due to that information, you're instantly showing that the lack of service history/records does matter to you because you feel that the car is worth less than a car with a full service history and records - Otherwise you'd pay the same amount for either car.

If the PPI only deals with the condition of the car as it stands at the time of inspection, and takes no notice of any previous work carried out on the car, then surely it's better to have a service history and service records to give prospective owners an idea of how well the car has been looked after?


Sandy Eggo and AceMaster:

I assume that as you feel that a service history and service records are not that important, neither of you bother to keep any records of service/repair work carried out on your cars?

 

Not if I got there first!!!

 

I agree. If you are in the classic market - then mileage is not as huge a deal, as is the overall condition and restorative work - and WHO did the work Classiche is now the place to get Enzo era cars redone... anything else is "less"... other than a barn find that has been un touched.

 

A 30 year old car with very low mileage that has not been driven much is a problem waiting to happen. An average mileage well cared for,maintained and driven car is good.

 

In the American market I would say miles. We occasionally get supposedly serious calls to buy our 550, which is in great shape and has receipts going back to Moses, and in nearly every case I can recall the miles caused a gasp of disbelief. This is a car with under 45,000 miles and runs like a plutonium powered sewing machine.

 

I wonder if the American mileage obsession will ever change? Obviously a 5 year old car with under 5,000 miles is sub optimal. Yet it is highly prized in the resale market. The two used ones I bought were five years old each and one had slightly under 5,000 miles and the other 3,000 something. That's what dealers had and I didn;t know enough about the car to judge one on my own and buy privately. I chose them because of their equipment/color but I think they would have been better cars in most respects if they had at least 3,000 mi a year and no worse if they had up to 6,000 miles a year (other than some road rash and considering NJ shorter driving season as a factor).

Other fashions have changed in the past.

 

When I was looking for a 550 and a 456 about five years ago, I was able to drive a 456 and a 456M. The 456 was older of course, but in far better condition than the 456M, despite both cars having 10-12k miles. The M had been left parked in a hot garage for a lot of that time here in Florida, and it had sticky parts. The 456, which was in California (I was on a work trip) and was eventually purchased by an F chatter. I liked the 456 for its practicality. But I did not purchase either because a friend told me the 550 would hold its value better. He was right!

I looked at two 550s and a 575F1 locally. One of the 550s was in shockingly poor condition. The interior was originally cream colored and it was trashed. CEL and slow down lights. I could not believe how bad the car was. I literally wouldn't have taken that car if someone gave it to me. The other 550 looked very good and was Pozzi with a Bordeaux interior. About 20k miles. I had my body shop man take a look, however. He poked around the trunk. He pulled the trunk seal and a shower of bondo powder came down.

I ended up buying a 550 from an F chatter in LA. Worked out fine.

My point is that your questions are theoretical. You need to just grind it out, pound the pavement, and go drive some cars. The right one will speak to you.

You can't look at these cars as investments at the moment, since IMO their values have peaked.

Scott

 

On the contrary, I keep every scrap of paper related to my cars. I prefer a complete service history (or as much as possible) but won't let it stop me from buying an otherwise great example.

Also, I've seen service history faked...totally bogus invoices. Caveat emptor.