It is Official: 355 Spider prices are down

How is your research official?? Is there a point?

 

Wait ten more years and they'll be down even further.

Buy now and enjoy now.

Steve

 

Make em' kick low sixties and I'll get my dad in on a 355 spider

 

I'm sure someone said the same thing about Dino's three years ago... When I was look at that time hell they were only 60 grand!!! But I didn't buy Ferrari for a speculative investment... I bought it to be able to drive a piece of rolling artwork!!! If it goes up in value so be it... And since they only made about 2660 Spiders who knows..

 

Maybe due to all the spiders on the market...

Anyway I buy as an investment, if it retains a decent % of value over 10 yrs. I'm ecstatic

 

I can tell you w/ spring approaching prices will rise.

These cars I believe are about the thrill of the ride and once you consider selliing and realize the mistake you made and the hundreds of hours you'd have to reinvest to find another really good one. Holding onto it makes it an "investment grade toy." At least that is what I tell my wife.

 

Oh man that yellow spider is tempting...

 

Timing is everything in cars like this, especially a spider. I would wait and check the same cars in mid April when it starts to warm up and people have spring fever. It will be interesting to see how many are left and what prices are being offered. If they are still low and sitting then maybe there might be some merit to the argument that prices are coming down.....but I doubt it.

I try to always buy my cars in the dead of winter for this very reason.

 

number one we are in the middle of the winter and the last thing on anyones mind is to buy a convertible, secondly on the 355 market almost 80% of the cars out there are dogs . nice clean low mileage car will always bring the $ guarnteed

 

agree 100%

 

It's posted on FChat, so it's official.

Not sure why the big surprise. We all know these cars depreciate for 20-25 years, at least. A really great 355 bringing more money than an average one is a statistical outlier -- ditto a really crappy one selling for very low money.

Dinos are 35 years old -- not a useful comparison.

 

Like my GTB!!!! Fratelli lives!!!!

 

Yeah - November/December is best - I got a yellow spider two months back at a brilliant price.
But agree with others - you are buying a lifestyle here - if the bucks work out, so be it

 

Do you honestly think those odometers are correct?

 

i think the 360 spiders are coming down faster than the 355 spiders. 6-8 months ago i didnt see hardly any around $150... now im seeing some creep down into the $130s

 

Exactly! And if correct, I don't want an old car that was sitting around its whole life. Even a Camry sitting for a year will have problems.

 

One rule of thumb that has worked well in the past is that the newer Ferraris will depreciate to about 40% of sticker, where they then bottom out. I'm not sure, but I think that the 355 Spider had a sticker around $130k, so $50k would be a good guess for a bottom.

Dale

 

i would NEVER trust a low mileage odometer. i would be more comfortable spending less money on a higher mileage car with service records

 

I am looking for one and I would honestly prefer a little bit higher mileage car that has been serviced and the problem areas have been replaced. Completely clean title and all. There is one at Ferrari of Washington right now that I am looking at.

 

I agree. IMO, the best examples of these cars often have 15-20k. Someone enjoyed it enough to drive, and take care of it accordingly. The major issues have been dealt with at this point.

 

Exactly, I have done some research on the one at Ferrari of Washington. Everything is up to date, the owner wouldn't even let them detail it for him. He drove it quite a bit. I personally can't stand the people who just let it sit in the garage. It's a car, it's meant to be driven. I plan on driving mine alot and when I get it there will be plenty of pictures to post.

I'm going to wait a while though, trying to study the market so that I make the best decision possible.