Gated Manual 360 Coupes - Modena Market

Just when you thought the 360 market was crashing...

and another 15k mile one:
https://bringatrailer.com/listing/2003-ferrari-360-spider-50/

I love the color combo, looks like it has more miles than it does though.

 

It’s like everything else, the market has become healthy… Good cars get good values, mediocre cars get mediocre values. These last two are really nice specs

 

Both of those are lower than dealers are asking on the big sites for cars with higher mileage (one with collision history). Good ammunition for someone wanting to get them down though.

 

From Hagerty, 1600 mi 360 gated Spyder, passed on this because of the garage fire in the past, would have obsessed over soot behind the dashboard lol, still brought 180k
https://www.hagerty.com/marketplace/auction/GWfwjJqp6yZdfXpfeuugV

 

WOW

 

Appears to be pretty consistent
https://bringatrailer.com/listing/2001-ferrari-360-spider-62/#comments-anchor
8k-Mile 2001 Ferrari 360 Spider 6-Speed Sold for $155,000

I feel like the interior was immaculate as one would expect given the mileage, but the photos underneath, with chunks of the tray missing, in some ways its in worse condition than my 40k mile 360.


There were a few shocking results late last year!
https://bringatrailer.com/listing/2000-ferrari-360-modena-65/
19k-Mile 2000 Ferrari 360 Modena 6-Speed Sold for $105,000

This one had a few issues and what seems to be poor seller engagement:
https://bringatrailer.com/listing/2002-ferrari-360-modena-18/
One-Owner 2002 Ferrari 360 Modena 6-Speed Sold for $87,000

This one seemed very comparable to the siders but at a much lower price:
https://bringatrailer.com/listing/2003-ferrari-360-modena-31/
17k-Mile 2003 Ferrari 360 Modena 6-Speed Sold for $110,360

Even further back in October, this one was comparable in every way!
https://bringatrailer.com/listing/2003-ferrari-360-modena-29/
9k-Mile 2003 Ferrari 360 Modena 6-Speed Bid to $150,360

 

Also the headlights looked pretty bad.

I probably noticed because I just fixed mine, but they needed to be replaced or cracked open and fixed. Agreed given the condition I was surprised on the final hammer price.

 

I do want to mention that a member on here was talking about the data reported as sold shown on bringatrailer was accurate which it 100 percent is not. An auction can end and it will show as sold. The highest bidder will get the sellers info but that does not mean they will agree on a price. The sold data from previous auctions is worthless.

 

The values shown above is all garbage and no one is selling 360’s at these prices. Most of you have never sold on there and think it’s run like an eBay auction setup. The seller is not required to sell to the highest bidder

 

Not worthless, but there certainly are instances where the highest bidder backs out when it comes time to pay or something else happens

 

It’s worthless, all BAT does is pass the sellers info along. These examples are complete garbage for 360 values. None are real and only BAT is showing this garbage

 

Find me a 17k mile 360 Modena owner with a six speed ready to sell at 110k. Garbage…Data for dreamers on here to back up their cheapskate offers

 

So you're saying that no 360 auction on BAT is legitimate? Just want to make sure I'm hearing your argument correctly.

 

That is correct, unless a reserve was set and shows met, then that’s the only legit one.

 

Sellers often ask for more but BAT puts a qualified buyer in front of you is the main purpose since to bid you have a credit card on file to even bid but lots of discussions happen beforehand

 

The auctions that had "no reserve" are listed as such though. Example: https://bringatrailer.com/listing/2005-ferrari-360-spider-10/

Look at the tab on your google bar for the no reserve title. You can see in the history chart the ones that are no reserve by hovering over them. That would imply the others that are "sold" had reserves which is most of them.

Maybe I'm just confused on what you're trying to say though.

 

If you have the auction as no reserve, the seller can still cancel the deal

 

Some would argue the final bid price is that car's actual market value, as that's the highest anyone qualified and watching the sale determined it to be worth to them.

If the seller says no thanks that doesnt magically mean the market is higher.

The market is in fact the amount someone is willing to pay.

One can use a good size sample of prices from bat to illustrate market trends regardless if someone decided not to sell their car after the fact because it didn't bring the overinflated "value" they had in their head.

 

Fascinating! I have never heard BaT auctions being undervalued. It's usually the other way around, overvalued, not real world prices.

 

I hope these are not indicative of real world prices. That would be pretty heartbreaking when some of those examples would be pulling upwards of $200k not long ago. I've seen some F1 examples go for 2016 prices though, so the economy may be catching up..

 

What percentage of “won” auctions on BaT do you estimate do NOT end up with a transaction at the winning bid amount?

 

That would be a hard figure to guess. But BAT is the only place showing this low of data. Teen mileage F1’s are around 100k mark. Unless the color combo is garbage, no one is snatching up manual 360’s in the sub 100k area. The manual 360 is about as good as it gets for Ferrari

 

Sorry but it looks like you're wrong on this one and our cars just ain't worth **** right now.

Looking at the comments on the $87k one, it looks as though the sale was completed and the seller actually contributed more to the buyer, so that one is completely legit.

The buyer made a comment on the $110k one stating how much he is loving the car.,..

The $105k one stated that it sold below the reserve but BaT made up the difference? I don't know about that one.

But yes, these were all legit completed sales. I guess I'll be keeping mine forever. Missed the boat on paying off my mortgage. Oh well. Maybe they will go up a little when the weather turns, but this manual mania wave seems to be coming to a close. Perhaps there will be another one.

 

If these prices are true why can’t they be found anywhere else? Look up V Auto, learn the market if anyone reads this thread you are giving massive false hopes. If anyone sits on BAT a lot please post the live auction for a manual with these miles I will be all over it

 

I guess they'll just have to go to BaT to find one then