Hello all, How does one arrive at a fair market value for "old" Ferrari's? For example, some car valuation services don't list Ferrari's made before 2001 -- and some don't list them at all! Please advise. Thanks! Vykyng PS: A local dealer is asking $41,661 for a 1990 348 TB Tubi w/ 18,200 miles. Is that a good price for a "flawless" car that is 21 years old?
Sounds like the right area price-wise There is no real source for fair market values other than watching what is selling. Ferraris prices can heavily depend on small differences in mileage, for example, 10k will command a significant premium over 25k. This is because the average Ferrari only sees a few thousand miles per year. Potential buyers also tend to discount heavily for minor things that most car shoppers will overlook. Chips in the front fascia ? Take off a couple grand. Good luck !
Hi David, There are many ways to track current values of most sports cars in general and Ferraris in particular. Here are three: 1. Ferrari Market Letter [asking prices only] Atlanta,Ga 2. Black Book "Cars of Particular Interest", www.blackbookusa.com [Ph 800-5541026] 3. Sports Car Market "Pocket Price Guide" ph.# 877-2192605 Free with SCM sub. Current CPI for 1990 348 tb: "Good" $25,175, "Excel" $38,250 SCM, "2011 mid year": '90 348 tb "Low" $38,500 "High" $48,300 Note, "Flawless" is usually meaningless without full service records and a professional PPI and a Tubi or other after market equipment adds nothing to the value of a Ferrari. Personal note: "Excellent" 355's are currently selling in the $50k range and are considered much more desirable.
Cavallino offers a Market Guide but "guide" is the operative word there. Also, a quick scan of the current Ferrari Market Letter (available in on line version) would give you some "comps".... Look in FerrariAds here, but I don't know of any 348s are currently listed. The price in the OP sounds high but it's 'condition condition & condition' so if truly "unblemished" then maybe worth it?
"Fair market value" from some blow hard who writes a book means nothing unless your buying a Hyundai or some piece of garbage you can get anywhere. I would love to see these guys get some cars as cheap as they say or sell some cars for as much as they say. Until they can do that....forget them. Look around and see what others are selling for and what YOU feel you want to spend. To be safe and happy pretend when your done with the car it's worth $0 and are you willing to give away that money to drive the car. Pretend the car will cost an arm and a leg to maintain and you have the amount the car is worth. This way when your done with it and you sell it for any amount of money you will be happy. And in the mean time you will have a piece of motoring folklore. PS. I would be highly suspect of any "flawless" dealer car and figure that car is worth mid/high 30's private party value
18,200 miles on a 21 year old car would give me concern unless there is a pile of maintenance records to go along with it. Think about it, that car has been driven 866 miles per year on average..... I don't believe in the low mileage crap that some do, it needs to be driven and maintained. As a good friend of mine on here always says "Drive it like you stole it!" Sitting in some damn garage going no where is when crap starts going bad and causing trouble. I have had my car for a little over 4 years now and I have driven as many miles as that car has in it's entire lifetime, truly sad. Everything works on my car, it runs fantastic because it gets driven and maintained, pretty simple really. That is what you should be looking at in my opinion. Jeff
In Australia you can expect to pay $AUD 90 - $110,000 for a good 30 - 50,000Km 348ts (tb a little less !!) with up-to-date service books (usually including a recent major service). Basically get what you pay for... As they say no such thing as a CHEAP Ferrari
As darkkangel mentioned, service records with proof of proper maintenance history helps with the value, and of course the due date for its next major service is a significant factor in the price.
My car is for sale if you are interested ... http://cgi.ebay.com/ebaymotors/RESERVE-LOWERED-CONCOURSE-QUALITY-MAJOR-SERVICE-DONE-/280729212390?pt=US_Cars_Trucks&hash=item415cc3d5e6#ht_1007wt_1165
