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Fair Price for 2003 360 Modena????

Discussion in '360/430' started by msgm1, Feb 9, 2005.

  1. msgm1

    msgm1 Formula Junior

    Nov 4, 2003
    435
    NYC
    I have a 2003 Red/Tan 360 F1 Modena all options: shields/modular wheels/full leather roof, doorsills, back/HIFI - subwoofer, cd changer, Tubi. Perfect condition 15k miles (I like to drive), I am the original owner. What would be a fair price in today's market? (MSRP for the car was $175k).
     
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  3. Hunters360

    Hunters360 Formula Junior

    Nov 18, 2004
    329
    Massachusetts
    Full Name:
    James Wardwell
    Well if you talk to 1/2 the idiots online here they'll say $130k-140k....Funny thing is the are the guys who own 355's 348's and some 328's..They are trying to do there best to drive down prices. A couple idiots believe within a year the 99/00 360's will be in the $70-$80k area. Ill tell you as of today the 360 is still the Best ferrari ever produced. your car is worth the Mid to high $160's
     
  4. Modenafan

    Modenafan F1 World Champ
    Lifetime Rossa Owner

    Dec 19, 2004
    11,916
    Moorpark
    Full Name:
    Jon
    I've seen some nice 03 360's with similar equipment. They seem to be asking from mid 160's to mid 170's. I think price also depends a great deal if you've had the 15k service done.
     
  5. johnbob

    johnbob Karting

    Nov 8, 2003
    124
    Oklahoma
    I don't have a 328, but I guess I am one of the idiots. Asking price index of the 360 Modena in the Market letter for the Jan 15 issue is $146K. You will take a hit for the 15K mileage (good for you, these cars are meant to be driven). Most of the 03 models asking price is in the $169K-$179K range for low mileage cars. This is the asking price, and most of the 03's in this issue are 2,000 miles or less.
     
  6. 2000YELLOW360

    2000YELLOW360 F1 World Champ

    Jun 5, 2001
    19,800
    Full Name:
    Art
    That median price includes the 99s. His car is worth about 160k, maybe 165, but given the price of the new 430, I suspect that very few people will actually pay that much for a 360, they'll buy an 01, 02 before they'll fork over that much dough. Otherwise, they'll get a 430.

    Art
     
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  8. CRG125

    CRG125 Formula 3

    Feb 7, 2005
    2,393
    Los Angeles, Ca
    Full Name:
    Vivek
    A buddy of mine just traded his 03 Modena, yellow/black, full leather, HiFi, Cd, subwoofer, modular wheels and 2500miles for $155K to a ferrari dealership for a 360 Stradale.
     
  9. johnbob

    johnbob Karting

    Nov 8, 2003
    124
    Oklahoma
    What is MSRP for a 430? How about the 430 spider?
     
  10. gecko916

    gecko916 Rookie

    Jun 26, 2004
    19

    I find your quote not making much sense to me. The car is worth what someone is willing to pay. I find it hard to beleive that "idiots" on this board have the ability to control prices.

    At the end of the day what is someone willing to pay for it. Supply and demand. In contrast to a few years ago, there is a much larger supply of these cars and demand has seemed to soften.

    I would not be surprised if 360'***** a spoft patch and go below $100k. If this car is worth mid to high $160's then there would bne a line up of people willing to pay that no questions asked. Just as in 99 when the car came out people were willing to pay alomost $100k over sticker.

    We are at a different point in our economy then 5 years ago. NASDAQ was approaching 5000, it was pre 9/11 and the US dollar was much stronger.

    Based on the fact that a 2003 with 2500 miles sold for $155 K( see above post) I would assume that $130-140 would be the range.

    But why take my word for it, call around and see what other dealers are offering.
     
  11. sparetireless

    sparetireless Formula 3

    Nov 2, 2003
    1,413
    its worth about $148-150k because of the miles IMHO>
     
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  13. iceburns288

    iceburns288 Formula 3

    Jun 19, 2004
    2,112
    Bay Area, CA
    Full Name:
    Charles M.
    Miles? 15k is miles? Wow. Different standards...
     
  14. sparetireless

    sparetireless Formula 3

    Nov 2, 2003
    1,413
    I agree with you, but I really think $10 a mile is what the depreciation is.
     
  15. bboxer

    bboxer Formula Junior

    Aug 6, 2001
    612
    The people you describe (looking for a used 360 but better off getting a 430) will not have the option of a 430, for a few years anyway, unless they're willing to pay those silly premiums.
     
  16. W00dEar

    W00dEar F1 Rookie
    BANNED

    Feb 24, 2004
    3,515
    LI, NY
    Full Name:
    Chris
    well, i was looking to buy a 03/04 modena until few days ago. based on my experience, u should get in 150's for your car, because of teh 15k mileage, same car if 2500 miles can swing 160s.
    the car i was very very close to get, was a '04 yellow, 2400 miles, with all options, list price of 177k. was asking 176k by WWOC, but final offer to me at 167k. so ur car with 1 yr older and 15k miles, will bring u low-mid 150's.
     
  17. W00dEar

    W00dEar F1 Rookie
    BANNED

    Feb 24, 2004
    3,515
    LI, NY
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    Chris
    right.
    and the dealer will ask 175 for the car, and really sell for 165.
     
  18. 911Fan

    911Fan Formula 3

    Apr 15, 2004
    1,291
    Southern California
    This is the Ferrari way. Ferraris are basically worthless if they have more than 3000 miles on them. :)

    I think the 430 will debut at an eye-popping MSRP. That and the general unobtainium status for a couple of years will help buoy 360 prices (and on down the line...).

    Besides, some of us aren't crazy about the 430 and will wait for the next model, all the better to enjoy our 360s for a few more years!
     
  19. marknkidz

    marknkidz Formula 3
    Silver Subscribed

    Oct 7, 2004
    1,263
    so cal
    Full Name:
    mark
    911Fan...Amen. I feel the same way about the 430 looks. Thats why i traded in my 2003 360 for a CS. Best of both, 360 beauty and MORE power. I too will wait for the next creation.
     
  20. Clark

    Clark Karting

    Feb 23, 2004
    53
    Suwanee
    Full Name:
    Clark Driggers MD
    I saw the MSRP for the 430 the other day
    170k for the 6-speed and 180k for the F-1
    Ceramic brake option 15k

    It was alot lower than I thought so i think 360's will remain strong only because unless you are on the list for a 430 you will wait or pay a premium

    Clark
     
  21. Gary(SF)

    Gary(SF) F1 Rookie

    Oct 13, 2003
    3,637
    Los Altos Hills, CA
    Full Name:
    Gary B.
    $10/mile? Good grief. I have had my Modena for a year now, 5700 mi, and when I stopped by FoSF the other day I asked what it was worth wholesale to them. They offered $160k, which is exactly what I paid for the car. If the $10/mile was accurate, I would be looking at closer to $100k. Seems unlikely.

    Gary
     
  22. W00dEar

    W00dEar F1 Rookie
    BANNED

    Feb 24, 2004
    3,515
    LI, NY
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    Chris
    i assume he meant $1 a mile.
    cars seem to go for higher on the west coast. dont know what yr u have, but even '04 loaded, with 5700 miles, i will be happy to get 160k trade-in.
     
  23. Hunters360

    Hunters360 Formula Junior

    Nov 18, 2004
    329
    Massachusetts
    Full Name:
    James Wardwell
    $10 a mile !! All those out there with 20k cars better get your check book out because when you sell your 360's youll have pay to get rid of them.. (calculation $10.00 X 20,000 =$200,000 )
     
  24. sparetireless

    sparetireless Formula 3

    Nov 2, 2003
    1,413
    You might be right, the depreciation is probably more like this:

    1-1000 miles $10 a mile
    1001-2500 miles $5.00 a mile
    2501 to 5000 about $3 a mile
    5001+ and then you drop to about $2 a mile and that's it.

    About like taking 2 yellow cabs with you everywhere you go. A hell of lot more fun though! All in all, its worth the cost, its that fun.
     
  25. losang

    losang Karting

    Feb 11, 2005
    153
    I think you are right. The S430 will have a positive effect on 360(coupe) prices for awhile as they will redefine the price points. Once 430's begin to find their way into the resale market, then you'll see the same thing that has happened to the 355's. The early cars and higher milage cars will depreciate much more rapidly. Later cars (02-04) and low mileage cars will depreciate but at a slower rate. Based on the current resale market, asking prices, and relative value, I would suggest that there appears to be a very significant over supply of 360 spiders. That's where I think you'll see some softness, especially when they begin to deliver 430 spiders. I'll bet that selling vs asking prices on those cars are at historical lows right now.
     
  26. Q8Y

    Q8Y Rookie

    Jun 15, 2004
    29
    hi there, this is my first post in this great forum,, I'm from Kuwait and I have a '03 black/Tan 360 F1 Modena with all options, nearly 15-16k miles, stock.
    how much would the price be if I want to sell it? (car is located in Kuwait)
     
  27. Gary(SF)

    Gary(SF) F1 Rookie

    Oct 13, 2003
    3,637
    Los Altos Hills, CA
    Full Name:
    Gary B.
    It is a 2004.

    Gary
     
  28. W00dEar

    W00dEar F1 Rookie
    BANNED

    Feb 24, 2004
    3,515
    LI, NY
    Full Name:
    Chris
    a '04 yellow loaded (sticker price 177k) was offered to me at 167500 by authorized dealer in ny. so 160k wholesale trade-in is great if in ny. i believe west coast it goes a bit higher.
     

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