488 - Help with valuation | FerrariChat

488 Help with valuation

Discussion in '458 Italia/488/F8' started by beemerb0y, Dec 8, 2022.

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  1. beemerb0y

    beemerb0y Rookie

    Jan 25, 2019
    20
    Looking to purchase a 488 GTB. Can I get some feedback on pricing from the community?

    Found a clean, well maintained 2018 488 GTB, 2 owners (Oct 2017 build with a Nov 2017 in-service date, so 2yrs left on the maintenance)
    just shy of 5,000 miles
    Rosso Corsa/Alcantera nero
    apple carplay
    adaptive front light system
    carbon fibre racing package
    leather/alcantara interior
    daytona racing seats
    20" forged diamond rims
    sport exhaust
    front axle lift
    Scuderia shields
    front/rear parking cameras
    MSRP was right around $330k

    Any feedback of what I should be buying this for would be greatly appreciated.
    Thank you!
     
    mdrums likes this.
  2. AD211

    AD211 Formula 3
    Owner Silver Subscribed

    Aug 19, 2017
    1,055
    South Carolina
    Full Name:
    Andy
    $280k - $305k


    Sent from my iPhone using FerrariChat
     
  3. Kent Adams

    Kent Adams Formula 3
    Silver Subscribed

    Sep 11, 2020
    1,930
  4. DavisJ

    DavisJ Karting

    Dec 31, 2019
    94
    interesting the price spread btwn the 488 and f8 - and adding the spider option is big delta!

    seems like the 488 is a little stuck btwn the 458 v8na and the last v8 f8.
     
  5. goblue22

    goblue22 Karting

    Sep 1, 2022
    93
    Westchester, NY
    Full Name:
    brian potash
    Not sure how relevant, but this failed to sell and solicited a high bid of 235k on BAT this afternoon.

    best
    Brian
     

    Attached Files:

  6. MANDALAY

    MANDALAY F1 World Champ
    Owner Rossa Subscribed Silver Subscribed

    May 23, 2013
    11,095
    AUSTRALIA
    Full Name:
    ANGELO
    Private or of a dealer.

    Since its 2018 model 5 years old after the 3rd year was there any warrantee on the car like full extended 2 year warrantee of power warrantee?

    Lift or no lift still look under the car for any scraps / damage.

    From a dealer insist they price an extra 2 years FULL WARRANTEE. IMO 290 k with the warrantee.
     
  7. Viperjoe

    Viperjoe F1 Rookie
    Silver Subscribed

    $285,000 would be a fair deal.
     
  8. blkdiablo33

    blkdiablo33 F1 Rookie

    Jul 12, 2004
    4,366
    theres asimilar car like that for sale near me a friend of mine looked at it is this car for sale in at a porsche dealership
     
  9. blkdiablo33

    blkdiablo33 F1 Rookie

    Jul 12, 2004
    4,366
    330 k for a 488 is a well optioned example
     
    Viperjoe likes this.
  10. beemerb0y

    beemerb0y Rookie

    Jan 25, 2019
    20
    Thanks for the info. I was thinking $260-270k myself prior to posting this thread. Appreciate the advise
     
  11. beemerb0y

    beemerb0y Rookie

    Jan 25, 2019
    20
    this one is 2 years older, had 5 owners in 8 different states and a much lower msrp of $291K, and almost double the miles
     
  12. blkdiablo33

    blkdiablo33 F1 Rookie

    Jul 12, 2004
    4,366
    there is a nice example one for sale i dont think u can get it for 270 but you can try its at porsche santa clarita ask for avo
     
  13. RS458

    RS458 Karting
    Silver Subscribed

    Mar 28, 2020
    59
    Arizona
    I do not see this car being worth anything near the numbers you all are talking about. Those days are over. Prices on 488's are dropping fast. I think it is closer to 230k and going down. I have been watching 488 spider prices dropping daily. GTB's, F8's, 458's are all going down.
    Dealers all overpaid for these cars and are realizing now they have to start letting them go.
    For those who don't think I am right, reread this next month, and the month after and the month after.
     
    Omega.PO85 and Caeruleus11 like this.
  14. blkdiablo33

    blkdiablo33 F1 Rookie

    Jul 12, 2004
    4,366
    260 would be
    id like to find a 430 scud for the old day prices but not holding my breath
     
  15. mdrums

    mdrums Formula 3
    Silver Subscribed

    Jun 11, 2006
    2,234
    Tampa FL
    This 488 with race seats is really nice. Race seats seem very desirable and for whatever reason not a lot of 488’s were ordered that way. The spec miles high MSRP and all… If car checks out and super clean I’d say $280k
     
  16. Lucid moment

    Lucid moment Karting

    Sep 24, 2017
    58
    You think this car is worth 230K? Quick search on Autotrader shows the cheapest 488 out there is 232K, with 35K miles and 5 options, probably 50-60K lower MSRP than OP's cars and 2 years older. Yet you think his car is worth less? He's asking what his car is worth today, not in the future.

    OP, based on the current market, 280K is a fair price.
     
  17. RS458

    RS458 Karting
    Silver Subscribed

    Mar 28, 2020
    59
    Arizona
    Maybe my 230k valuation is a bit of a stretch for today. But I do not agree with 280k Even if you pay 260k for the car today, i think it will be 230k or close to it 6 months from now. This is just my opinion and it is entirely possible I am completely wrong. But I have been following prices for 488s and F8s and they are all going down. You couldn't get an F8 Spider 6 months ago for less than 550k. Now many are below 500k. 488 Spiders 6 months ago were 350k plus, now they are in the low 300's and many less than 300k from Ferrari dealers. I am just giving my opinion. We were in a crazy bubble that I think is over. I say this as a 458 Spider owner who is looking at moving into a 488 or F8 (save the "don't ever sell a 458 Spider" opinions for another day. Believe me, I know.. I just like car shopping)
     
  18. rw99

    rw99 Karting

    Jan 1, 2019
    114
    SF Bay Area
    Full Name:
    Rich
    Very much agree. I’m 6’4 and needed the race seats to fit comfortably in the car… I had to shop for six months before finding my 488. From that (USA) sampling, I’d estimate that only ~15% of GTB coupes for sale had race seats. IMO there will continue to be a segment of buyers for 458/488 that require race seats (usually for the styling, of course) and will pay a premium for those cars.

    Rich
     
    mdrums and Viperjoe like this.
  19. Petrohoman1970

    BANNED

    Jun 2, 2012
    30
    Los Angeles
    Full Name:
    Homan
    I'm looking to get one from a dealer boosted horsepower no warranty. 3000 miles 2018 288k
    50k in chip, air boxes muffler some what hesitant about warranty. Definitely cheaper to get gt3 rs.
    Stock car better balanced
     
  20. Eric C

    Eric C F1 Veteran
    Rossa Subscribed

    Mar 20, 2009
    9,098
    St. Louis, MO
    Full Name:
    Eric
    What's it worth to YOU?
     
  21. Raridave

    Raridave Rookie

    Feb 19, 2022
    2
    Full Name:
    David Shin
    Wait till all Ferraris are hybrids, the value of our cars will skyrocket in demand.
     
  22. 05F430F1

    05F430F1 F1 Rookie
    Silver Subscribed

    Oct 22, 2005
    2,808
    Fort Lauderdale, Florida
    Full Name:
    Todd
    It’s possible… but not likely— maybe 10+ years in future, they’ll go back up but it won’t be immediate or even soon— as much as people ‘think’ all the ‘true’ Ferrari people (whatever that means) or car people will want the F8, Pista or 458 because of NA or non hybrid, they’ll move forward and start being fine with hybrid Ferraris and our cars will continue to decline as normal. I say 10+ years only for the possibility of disaster when they die and need replacement batteries or extreme repair and everyone says uh oh, now what?… and then revert back to gas only powered supercars— I say this as being in the car business and also as an F8 owner, AMG GTc owner and an all electric Audi E-Tron owner and is only my opinion— all that said, I certainly hope you’re right though as that was part of my thinking for the F8 investment…. I do also agree that the 488 is definitely stuck in limbo between the 458 and F8 - sadly, this isn’t and wont be as desirable as the one before it or after it.


    Sent from my iPhone using FerrariChat.com mobile app
     
    9650max likes this.

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