My buying strategy

Well, you're right. I guess the first question is whether you want a 599 because it's the new thing, or because you want a 599.

The "smart" buys in Ferrari right now, IMO, are the 308, 328 and 512TR and 550. I think they're either done depreciating (first three) or have already gone through their free-fall phase and are depreciating slowly (550). And they all have a following - they're generally admired models with reasonably high build quality by Ferrari standards. They also haven't gone through an explosive price run-up yet (like Dino 246s have).

But nothing's a "smart" buy unless you really want it.

If you want a 599, plan to sock away $150K and wait a few years. I think it will be longer than a year or two, because 575Ms (a much handsomer car, IMO) are still selling for more than that.

 

Those that are buying 599s now are probably in such financial state that they can be genuinely happy for the guy who gets to buy their ex-car for 150 grands or so... whenever that time comes.

 

F40's are going up... that's a smart buy as well.

 

599's will not depreciate anywhere near 50% in the next 2 years or the next 5 years for that matter. These cars are commanding premium's for a reason.

 

Does it hurt patting yourself on the back like that?

 

What about the 348/355? Are they ever going to drop as low as the 308/328? I can see it happening with the 348, but it doesn't seem likely with the 355.

 

Lol. Well, I'll second the back pat. But for $150K or less it's hard to find an F40 that isn't currently on fire.

My opinion is that the top notch 328s and fibreglass 308s will pass the 355 in a few years. Decent 348s are already available for quality 308 QV money. Nostalgia, an admired design, reasonable maintenance costs, and obviously the Magnum factor... it all factors in.

The 355 has the curse of Testarossa-like service costs, and those V12 cars have already sunk to where they're close to their V8 stablemates of the same year. People point out it's much more modern and faster than the 308/328, but you could make the same comparison to the V6 Dino 246, which has shot far past the 355.

I kind of like 348s, but the market doesn't. There's a 21K-mile, red/tan '94 348 Spider for sale in San Diego now in the low $50K range (needs a major service), and that's about as desirable as they get. Would I buy one now? If you want one, the prices seem really right.

Again, all my opinion. I like the whole run of 308 GTB/S through 355 Ferraris.

 

Why shell out 35 g's for a new Mustang when you can get a used one in a year or 2 for 50% because of devaluation. Or you can wait 5 years and get that mustang for 15 G's tops! Why buy any car at all? Get my point?

 

As do I, I just feel that the market for these cars is dwindling. You mention the 246 Dino, which has definitely shown it's value, but I find it very hard to believe that any of the more modern cars will follow the same path. It's not that they aren't wonderful cars to look at, it's merely a fact that cars are all technology now. A guy that's good with a wrench can restore an old Dino to like new condition, but how many people 20-30yrs from now are going to swipe up an old, dusty F430 and know how to work on the E-Diff or Manettino system, or mold carbon fiber?

 

Even if you double that you could have a hard time finding a good one.

 

No! I'm a really old guy (63) and I think you're a lot closer to the truth than you think. There are a ton of Mustangs out there (great value for the young folks). Not so many Ferraris. Different Market. I want a 599 but, I never buy a new model intro on any car, period. Do I have many more shots at it, heck no. Still will wait, yes! I learned this in the yacht market.

I've owned Ferraris from Lusso to Maranello. Never bought a new one. Ferraris, from the 60's on, run about four times the cost of a loaded new Vette. Still do. You must have patience and do a lot of homework. Aside from what I just said, I also employ a broker for cars other than Ferrari. I tell him what I want and he calls me when he finds one. If I like it I buy it. If I don't, he keeps looking. That's the Drill. Example. My wife told me I was way too paranoid about the Ferriari for Trips. I'd spend half the night looking out the window, watching the car. This was true and I agreed we should look for a convertible I could reasonably enjoy and not be stupid about. Maranello goes on trips to B&B where the owner protects me.

In June of '05 I called my broker and told him I wanted a T-Bird 2-top. In September, he called me with a West Coast edition Monterey Mist green under Ash car with 3,700 miles for $28,000. I bought the $43K original price car on the spot. Get the picture?

 

Well, he's really old. The rest of us have to learn. Be patient with us.

 

...is right on. Buy an ex flavor of the month car that has been greatly depreciated because there is a new flavor of the month. That will take some time though and I don't know about $150k.

 

Thank you, sir. Like an even older friend told me once, "The only guy not getting older is DEAD." Like I once told a young Captain who felt he was not doing as well as he might, "Some scars, some bad mistakes made only once, and your knowledge will lead you. You just haven't lived long enough yet."

 

Why shell out 35 g's for a new Mustang when you can get a used one in a year or 2 for 50% because of devaluation. Or you can wait 5 years and get that mustang for 15 G's tops! Why buy any car at all? Get my point?
Kind of says it all !!!!!!