F599 GTB VALUES CRASHING

Just drive the car and enjoy it.

The 599 is not a good monetary investment and that was never a secret. It will, however, pay its dividends in joy and satisfaction if you use it for what it was designed.

Take it on a nice 1000+ mile road trip and such worries will suddenly seem very distant.

 

Not crashing as quickly as European banking shares!

Anyway, a front engined V12 Ferrari will depreciate, now engine this wonderful car and don't worry about it.

 

Price is what you pay - value is what you get and the value is HIGH.

 

I imagine it's just hitting the steep part of the depreciation curve. Early 599s are now out of warranty, and the new model is coming out soon... all of that equals high depreciation.

 

Just re-watch "Ultimate Factories - Ferrari" on HD Theater and know that you have THAT CAR sitting in your garage and any pain you are feeling on depreciation will soon fade

 

It's a normal Ferrari depreciation curve actually, based upon the next model (GTO, Aperta) coming out, IMO.

 

I cant see 599's dropping much less than $150k. Some of the ones I am looking at are in the $195 to $205k range, and they stickered at $340-$350k. Thats a pretty big drop already.

 

I don't recall how much a 550 maranello was but now you can have one for 80-95k. 599s will continue to slowly drop. Just like all of their other cars.

 

Exactly right. People used to say that about the 360 as well.

Of course, it depends on your timeline-- if you're only going to keep it for 6 months, maybe...

 

But the retail of 550s and 575s was much less than a 599.

 

575s were about $250K, or a bit less including taxes, and you can now buy good ones for $85K+. Prices on 599s will definitely go below $150K. All mass produced, late model Ferraris depreciate except the supercars. The limited production models of the standard cars depreciate, too, just at a slower rate than the more numerous models.

If you cannot get $200K worth of fun out of a 600+ hp V12 Ferrari, better get a heart transplant. They are not investments.

Taz
Terry Phillips

 

True. But not enough to keep the car from going under 150k.

 

AJ- Buy a 599 and you will see way more depreciation than on a 575M or 550, which are approaching the bottom of the depreciation curve. The 599 is still on the steep downward slope. On a Maranello, you might see $20K depreciation on a really nice one over five years. On a 599, it could be $60K-80K, depending on year and price paid.

I repeat, these cars are not investments.

Great for me if I ever want to replace my 575M with a 599, which is doubtful.

Taz
Terry phillips

 

Taz, very true. But I suppose the maintenance costs will be less for the 599. My other reason for going for the 599 is because it is where I wanted to end up with in the first place. I have had some health issues, and there are many unknows as to how long I will be around. So I figure...F**K it! Just go for the car and live it up!

 

I have never driven a F599. But I have talked to a number of people that I respect who tell me that even a plain Jane car is a rock 'n' roll monster. If you have more dough than time, trade up.

Dale

 

After owning a couple of Ferrari's and other exotic cars I have come to the conclusion that the end does NOT justify the means. Yes it hurts when you spend $370K for a car and a few years later its worth about $220K. Even if you have money to throw away it still make you ask yourself is the car worth it in the end. In my opinion, after owning many different exotics, it's just not worth it, IMO. These high dollar cars come with all the problems that can afflict lesser priced cars. Paint flaws, mechanical problems, poor engineering ( 458 fires comes to mind ) and dealerships that do not deliver on the service end. In the end you can sometimes feel like a Ferrari "victim" rather than a "Ferrari" owner. I am happy for the
enjoyment that I have had with the cars but have come to the conclusion that there will be no more "new" Ferraris purchased. No more $400k that becomes $250K almost overnight. I still have a few exotic cars left that I will drive until I no longer have any interest in them and then I will sell them for what I can get.
This is just my opinion and I am sure many of you who are just getting started with Exotic cars will still want to experiance ownership. Just be sure to have a lot of $$ and do NOT finance or you may wind up in a deeper state of buyers remorse down the line. The world of exotic's is changing with the "green movement", fuel consumption reduction and CO2 reduction, etc. Engines are getting smaller or a being supplemented by electric motors. The day of the raw, exciting exotic like my 275GTB4 or 365 GTB4 or even my Diablo or Countash are gone. Automatic transmissions ( paddle shifters) are now here to stay except in just a few cars. Even the "noise" is more acceptable. Its an end to an era of cars that will never be again. I just don't feel like the NEW era is worth the price of admission, at least for me.

 

Wings- Try any modern Ferrari with CST Off and you will get all the raw experience you can handle. Having owned a Daytona, any of the newer cars with all the nannies turned off is just as exciting to drive and has way more performance. If you bought your cars new, you have to expect to take it in the shorts on depreciation.

Quite contrary to your claim, every new edition of Ferrari has had a larger engine than its predecessor, and considerably more hp and torque. So your generalization may apply to cars in general, but so far not to any of the exotics.

So it sounds like you will not be buying any new Ferraris. Too bad. If you think there are some problems with engineering and workmanship now, you should have been around when the 275 GTB/4 and Daytona were produced. Read John Annis' description of the first 275 GTB/4 he owned in the 456/550/575 forum. People driving restored examples of the older cars have no clue what they were like when first introduced. I still fondly (not) remember rewiring the cables used for electric windows back then. What a Rube Goldberg arrangement. There was so much bondo in the older cars it is unbelievable. Pounds of it. Ah, yes, the good old days. Thank God for the introduction of capacitor discharge ignitions and NGK plugs. Those cured a lot of the driveability problems of the older cars, which tended to run really rich for good top end power.

So just be happy you are rich and have options. Most of us do not have those options.

Taz
Terry Phillips

 

I have to give credit to Jim Glickenhaus for predicting this price drop.
When they were still selling at $50k (or more) premiums,he posted they would be at or below $200k mark within a couple years.
I was more then sceptical but didn't want to argue,thinking that was just one guy's opinion.
Now I see at a local dealer a gorgeous 599 with barely 10k miles priced in $170ks.......

 

they are used cars.... latest and greatest on the way.

back in 95. i had an E36 M3.... told myself when the 355 hit $100k i'd buy one..... said the same thing on the 360 and then 430. had no interest when each hit that mark.

bigger and better stuff down the pike.

 

Actually, the prediction you reference was not limited to Napolis. There are a number of people on this board who were spot-on with this information--and other information that could be useful.

The point of this board is the sharing of information and ideas. Singling out one guy is a little bit of a slight to others of us who have been equally correct. Give credit where it is due--in 2006, I was shouting to the high heavens that real estate, especially housing, was headed for a crash--and provided lots of information to back up this claim. Others on here have had equally prescient calls about other investments. Give them their due.

 

I agree with you, and it sounds like I'm a bit younger (in my 40s). I think the era of Ferrari, Lamborghini, Aston and Porsche being different from everything else ended a while ago. Performance is all based on technology now, and technology has a short shelf life. Look at the Aston Martin Vanquish, now available for the price of a loaded Merc E-Class. Ditto the Ferrari 550/575. It suggests that new modern Ferraris are appallingly poor value.

I would disagree slightly on the quality front -- I don't think the Boxer, Daytona, et al were flawless cars by any stretch. But they were unlike anything you could buy from any other marque, being hand fabricated and rare. The new stuff is competing directly with Audi, McLaren, Porsche, etc., using the same technologies, built by the same robots.

With regard to "green", lower emissions,etc., I think the drive for lightweight, intelligent, efficient cars is going to change things -- Formula One has been leading the way, to some extent, with things like KERS, carbon fibre, computer-controlled shifting, etc. We will end up with much better cars in some respects, but you are correct that the days of Ferraris like the 275 GTB are long over and won't be returning. A carbureted V12 is a relic at this point.

The net result is that cars are homogenized, so mostly it's a matter of owning the newest for its status value and warranty, or owning a serious classic. The in-between stuff is, as Henryr posted above, just used cars.

 

Depreciation is really only a concern if you intend to sell the car in a fairly short time. If you plan to keep the car 20 years or more, depreciation is not an issue.

 

+1000