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Do you think 360 values will hold as well as 355?

Discussion in '348/355' started by noony, Jan 6, 2004.

  1. noony

    noony F1 Veteran

    Nov 25, 2003
    5,903
    Seoul
    Full Name:
    Johnathan
    Hello.

    Sorry if this is a stupid question, I'm not such an expert on ferrari values.

    I ask because we are getting a 360 when they reach a certain price.

    TIA
     
  2. rob lay

    rob lay Administrator
    Staff Member Admin Owner Miami 2018

    Dec 1, 2000
    49,192
    Southlake, TX
    Full Name:
    Rob Lay
    I think all 8 cylinder Ferraris go through the same cycle...

    1) New - Above MSRP on aftermarket because everyone wants one and you have to wait 2-3 years with Ferrari. example: 360 Spider/360 CS.

    2) End of production run - New cars still selling at MSRP, there are now plenty of used cars on market and used values less than MSRP. example: 360 Coupes at $110-125k.

    3) New model is out - Previous model goes through huge depreciation. example: 355's dropped from $120k (current 360 prices) to $70-85k range now.

    4) Two models away from new - Two previous models and out is then compared to the older model and not the next newer model. Prices are now incremental downwards and not upwards. example: 348's are $5-10k more than 328's that are $5-10k more than QV's that are $5-10k more than i's & carbs.

    Top feeders (those that care more about what they are getting than what it costs) will always drive the newest and next newest models. Now the 360's and 355's.

    Bottom feeders (those that will buy what they can afford) will go up the ladder until they can get the most from their budget. Now the 308's, 328's, and 348's.

    IMHO I think in 1-2 years when the next Ferrari is out the 355's will fall into a range about $10-25k more than 348 and will remain there. The 360's will become less attractive at $120k if there's a new model out at $170k and everyone knows that when the used new models start hitting the market then the 360 will be that much more unattractive at those prices. My guess...

    Current 360 price: $110-125k.
    New model introduced (2005): $95-110.
    New model out 2 years and used cars hit market (2007): $75-100k.
     
  3. dwood1969

    dwood1969 Karting

    Nov 1, 2003
    67
    Charlotte, NC
    Full Name:
    David Wood
    rob328gts,

    I think you have hit the nail pretty much on the head. There are some who may disagree (and they may be right) but if we look at the historical depreciation cycle of the previous V8 models, I see no reason why the 360 shouldn't follow that curve. Maybe the 360 is the car that will break the trend but it is hard to believe that a car produced in relatively high numbers will not depreciate eventually like it's predecessors.

    Just my $0.02....
     
  4. noony

    noony F1 Veteran

    Nov 25, 2003
    5,903
    Seoul
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    Johnathan
    Thanks for the in depth reply Rob! A decent RHD(I'm English) can be had for around $130k(todays exchange), so a bit more expensive here? A euro LHD can be had for around $110k. There is already overlap between 355 and 360 prices here; quite a few 355bs are worth more than say a 2000 model 360.

    We'll be looking when they're around $100k, hopefully not too long.

    Thanks again.

    Oh, its a shame so many 360s are F1s, quite hard to find a good 6 speed.
     
  5. GaryReed

    GaryReed F1 Rookie

    Feb 9, 2002
    3,054
    Seattle
    Full Name:
    Gary
    I think they are rapidly dropping in price.... especially the coupes. They are really going to take a dive when the new replacement model comes out.

    There are over -TWO HUNDRED- 360s for sale right now on Dupont Registry: http://snipurl.com/3oht

    I bet you could hammer out a deal on a 1999 for $90K or less.
     
  6. noony

    noony F1 Veteran

    Nov 25, 2003
    5,903
    Seoul
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    Johnathan
    Not over here :-(
     
  7. spyderman

    spyderman Formula 3

    Nov 4, 2003
    1,436
    Toronto - Canada
    Full Name:
    Spyderman
    Rob:

    Very detailed and acurate report! Thanks :)

    What do you think the outlook is for the 360 CS will be over the next one and two years. Is there enough of a diffrence between the standard 360 Modena that would enable used prices to stay up on this limited car?
     
  8. rob lay

    rob lay Administrator
    Staff Member Admin Owner Miami 2018

    Dec 1, 2000
    49,192
    Southlake, TX
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    Rob Lay
    I really don't know. My very poor guess is the 360 CS will retain it's value better than the 348 SS or 355 Fioriana (sp?) did. I think they did the 360 CS right by going light weight, more horsepower, and real racing components. It wasn't something dreamed up by the marketing department in other words.
     
  9. Cavallino Motors

    Cavallino Motors F1 World Champ
    Lifetime Rossa

    May 31, 2001
    14,143
    Florida or Argentina
    Full Name:
    Martin W.
    Great summary Rob,

    evil minds think alike :)


    The only think i would add is the 360 will likely drop even further than what you think. It will possibly hit the 355 or maybe less. The 360 is harder to maintain and will be more required for Dealer Service thus more expensive to keep, than a 355. Along that line there may be more bottom feeders like me, who would rather stay with the 355 model than the more expensive to maintain 360s.

    You can get some 360 Euros for $100K already. The US model is not far behind. So much for the "always" big gap. Once the warranty is over they are equal cars.

    Martin
     
  10. AJS328

    AJS328 F1 Veteran
    Owner

    Apr 23, 2003
    7,518
    New Jersey
    Full Name:
    Augustine Staino

    The little devil on my shoulder hopes that they don't because I would love to get my hands on a nice coupe in a few years. :)
     
  11. noony

    noony F1 Veteran

    Nov 25, 2003
    5,903
    Seoul
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    Johnathan
    It seems like they won't, but at the current owners expense :(
     
  12. henryr

    henryr F1 World Champ
    Silver Subscribed

    Nov 10, 2003
    16,140
    Atlanta
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    Juan Sánchez Villa-L
    it has always amazed me what the mkt will bear for the latest and greatest only to fall out of favor when the next hot "thing" arrives.

    i once lusted for the 355 when it came out. now i wouldnt give one a second glance. the 360 redirected my attention and i would bet that it's replacement will do the same.
     

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