News

Opinion on 488 Spider

Discussion in '458 Italia/488/F8' started by maplebrook536, Jul 18, 2019.

  1. maplebrook536

    maplebrook536 Rookie

    Sep 15, 2014
    7
    They made it sound like they would take $300 but salesman said his higher ups won’t come down from $305. Silly how 5 grand either way kills a deal.
     
  2. 488GTScarbon

    488GTScarbon Rookie

    Jul 3, 2019
    6
    Dallas, TX
    $300k is a good deal with that spec and from a Ferrari dealer. I bought a similar spec car in a 2017 for almost $300k with 1k miles few weeks ago however mine had a $375k MSRP which included lots of options I believe these cars will depreciate around 40-50k in 2 years depending on miles. which is better than most exotics. My opinion is 458 might sound better but 488 is a much better driving car.
     
  3. 488GTScarbon

    488GTScarbon Rookie

    Jul 3, 2019
    6
    Dallas, TX
    Just saw 305 is the number again you can find cheaper but will have different specs or more miles. The fully optioned cars with a lot of carbon don't last long. I missed a couple during my search.
     
  4. dustman

    dustman F1 Rookie

    Jun 12, 2007
    4,114
    Agree, esp as in free fall and they sound terrible.

    I’d reco a 720s or TTs as faster and sounds equally as bad. No point in a 488 other than badge ego.
     
  5. veilstylez

    veilstylez Formula Junior
    Silver Subscribed

    Jun 12, 2005
    256
    SoCal
    I honestly hope its holds. best for all of us
     
  6. dmark1

    dmark1 F1 Veteran
    Silver Subscribed Rossa Subscribed Owner

    Feb 26, 2008
    8,940
    Texas
    Full Name:
    Mark

    How about a million?
     
  7. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    10,961
    #32 ttforcefed, Jul 20, 2019
    Last edited: Jul 20, 2019
    dealers wont even buy 488s anymore - theyre puking on them as we speak. once the new models are out it will get worse. post 12 is the best reasonable expectation for what the cars will be worth when they're almost 5 yrs old. the math doesn't lie. NO dealer is paying what you said today for a 488.

    the OP asked for opinions on the value of a specific car. my opinion is the market is flooded with cars so what pay anything close to a premium unless something so unique about a specific car. looking at what the asking prices are (ferrari.com and autotrader) along with wholesale data for 488 spiders, i provided my view.

    again there are 114 488 spiders and 92 488 coupes for sale just at dealers alone. to compare there are 30 458s and 36 458 spiders. how are all those 488s going to make it through the system over the next 24 months with limited downside? that's just crazy talk. and how many more will hit the market as the 2 and 3 year leases get turned in plus people trading in for new models. in
     
    AlfistaPortoghese and dustman like this.
  8. LVP488

    LVP488 Formula 3

    Jan 21, 2017
    2,444
    France
    Comparison with 458 numbers might be misleading because the dealers always only have the most recent cars, which now eliminates a lot of 458 going to independent networks.
    There are 5 LaFerrari at dealers in the US, and I bet the 458 is far more common than just 6 times as the LaFerrari (that is, unless the US market is a lot different from Europe...)
    Still, the trend for 488 is probably more downwards as the 458 have already taken a good hit (but I would not bet on a 2015 458 priced close to 2015 488 - both will suffer in the same way IMHO).
     
  9. 488GTScarbon

    488GTScarbon Rookie

    Jul 3, 2019
    6
    Dallas, TX
    A lot of opinions that 488s wont hold much value. How about the fact that you can't order a 488 Spider from Ferrari right now and no F8 Spider available for now. Don't you guys think the low mile 488s will get bought up in the next year and values won't be going down as much as some are assuming.
     
  10. dmark1

    dmark1 F1 Veteran
    Silver Subscribed Rossa Subscribed Owner

    Feb 26, 2008
    8,940
    Texas
    Full Name:
    Mark

    Funny, my dealer just offered me within 40K of MSRP for mine in trade. Methinks you might be a tad bit pessimistic.
     
    MANDALAY and WM458 like this.
  11. dmark1

    dmark1 F1 Veteran
    Silver Subscribed Rossa Subscribed Owner

    Feb 26, 2008
    8,940
    Texas
    Full Name:
    Mark
    Yep, remember a lot of guys on this forum don't own jack **** and have nothing their garage but opinions. (no, I am not specifically talking about you TT).
     
    488GTScarbon and SoCal to az like this.
  12. LVP488

    LVP488 Formula 3

    Jan 21, 2017
    2,444
    France
    Also funny to note there are only 3 Modena and 6 360 spiders at US dealers (as reported above, there are ten times more Italia and 6 times more 458 spiders) - what it means for future prices evolution is anyone's guess, I doubt it gives any meaningful information.
     
  13. Challenge64

    Challenge64 F1 Veteran
    Rossa Subscribed Owner

    Jul 28, 2004
    5,456
    Full Name:
    Ron
    If you’re still interested in a 488 Spider, my qualifying spider (to get a Pista Spider) should be up for sale there too at Scottsdale Ferrari. Delivered new in April 2019, it is a 2019 model with 348 miles. Rosso corsa with red/black interior.
     
  14. SoCal to az

    SoCal to az F1 Veteran
    Silver Subscribed

    Nov 25, 2012
    6,058
    Arizona
    Op- what’s the original msrp on the car?
     
  15. AlfistaPortoghese

    AlfistaPortoghese Moderator
    Moderator

    Mar 18, 2014
    3,109
    Europe, but not by much.
    Full Name:
    Nuno
    Very market dependent. Over here (southern Europe) a friend was offered roughly half MRSP for his 2016 GTB, 18.000km on the clock, resale rosso corsa red over nero, official Ferrari dealer in Spain.

    The house always wins.

    I’ve also seen a drastic reduction in the number of 458s for sale here in my greater geographical area, as well as values holding stable. I think it’s only natural, once enough time has passed and cars finally end up in the hands of owners who are in it for the long run. The buy, sell, rebuy, resell fever has passed and I believe eventually it will happen the same with the 488.

    Kind regards,

    Nuno.
     
  16. maplebrook536

    maplebrook536 Rookie

    Sep 15, 2014
    7
    Funny, I have no idea.
     
  17. SoCal to az

    SoCal to az F1 Veteran
    Silver Subscribed

    Nov 25, 2012
    6,058
    Arizona
    That’s an important piece of info to base the price on. Find out.
     
    jm2 likes this.
  18. Cigarzman

    Cigarzman F1 Veteran
    Rossa Subscribed Owner

    May 7, 2014
    5,193
    Sarasota , Florida
    Full Name:
    Kirk
    For 5k if it’s the car you want , pay the man and be done with it. No way am I going to blow a 300k deal over 5k if it’s exactly what I want. At that point It’s lunch money. Best , Kirk
     
  19. maplebrook536

    maplebrook536 Rookie

    Sep 15, 2014
    7
    Have to draw the line somewhere, right? Lots of cars out there so not too concerned.
     
  20. Cigarzman

    Cigarzman F1 Veteran
    Rossa Subscribed Owner

    May 7, 2014
    5,193
    Sarasota , Florida
    Full Name:
    Kirk
    I realize that , but if it’s “the one “ you are being penny wise and pound foolish. Only you can answer that. Best , Kirk.
     
  21. maplebrook536

    maplebrook536 Rookie

    Sep 15, 2014
    7
    Obviously it’s not “the one”. Maybe another red one will come for sale down the road.
     
    Cigarzman likes this.
  22. MANDALAY

    MANDALAY Formula 3
    Silver Subscribed

    May 23, 2013
    1,636
    AUSTRALIA
    Full Name:
    ANGELO

    Lot less 458 well because they are an older car ? Same as the 488 they will go down in volume as time goes on. Agree they will and have gone down , hasn't it happened to every car ? But the Ferrari as I have seen is always the least :)
     

Share This Page