Price check please...

The point is that while there may have been a couple of sales at the $70k range there are more Bs on the market now that there has been in years, at varied prices, and currently they aren't moving. That does match reality. If someone want to spend $80k+ on a B there are several available. If you want to spend less for a car then needs work there are several of them available too. Where are the buyers for these cars?

Interestingly, historically there are around 50 to 60 355s on cars.com at this time of year with only a couple of Bs. Currently there are 37 355s total, and 7 are Bs (not counting the challenge car from Lake Forest Ferrari). So, it would seem there is a relative flood of Bs around (several more not listed on c.c) and not many buyers for these coveted cars.

What I hear about here are private sales between unnamed parties at unknown or undocumented prices prices. I don't put much stock in those. If a couple of chatters actually bought cars at these elevated prices it is probably because they were suckered in by the FChat hype.

This has noting to do with Hagerty price guides. It has to do with cars available and how long they have been available, regardless of price or condition.

And as long as I read comments like "it won't last long" and the cars sit for a month or more, I'll keep pointing it out.

 

What you are saying does not seem to match reality. As the Lebowski mentioned, the latest example.

http://www.ferrarichat.com/forum/ferraris/487670-1998-ferrari-355-gtb-19k-miles-super-mint.html

 

There may be a few berlinettas on the market currently. Of those, several have "bad history", whether that's for a troublesome owner no one trusts to buy from, or a car who's frame that was cut in half and moving the fuel tank to the front to do the belt changes - engine in. Or may be a dealer pushing a little too high with a car that has traveled a little too far.

I actually enquired about and received a pdf on maintenance records on a PPI from Foreign Cars Italia on a Black F1 berlinetta currently listed in the high 50's. Based on the pricing on work from the authorized dealer that came with the PPI, A buyer would be looking at an additional 25k+ for the work needed. It was in poor mechanical shape... Once you see the rest of the story, it becomes clear why it hasn't quickly sold.

There may be many of these cars "sitting" out there now, if you see more than normal. The best cars have been sifted through. The ship has sailed for most. So, yes cars are selling for much higher prices. Just look at 355dreamers' white GTS that sold for close to 80k many moons ago which people gasped at. They are only up since then and many of those looking wish he still had that car to sell them.

Are there barn finds or others with issues that are being fixed and priced with "finders" making money? Yes. Are all cars selling at top dollar - no. But the best cars are always getting top dollar, whether that's a 308 or F355. I wouldn't pay 60k for a 308 but that's me after living with them at 30k all day long for a decade. I need to change with the times on them. Some wouldn't pay 60k for an F355, but then neither of us would have the car we want. The market is up across the board on many models. We all need to see that, up our insurance value policies, and adjust our expectations. Unfortunately there is no way to truly track prices sold like as in real estate. So simply taking what owners think their cars are worth and what buyers place their offers at - sets the real time value somewhere in the middle.

I think, when 458 values drop much further, then you will FINALLY see more F355's on the market...

Robb

 

I don't think he has a problem but just stating the facts, which I agree with.

 

Good post Robb ^^^

 

Value threads always get everybody up in arms. It's all good. There is no real right or wrong answer.

Everybody relax and please be respectful here.

If you try to sell a car, you'll quickly find out what the market will bear. If you are buying a car that's hard to find, only you know what it's worth to you.

None of these are really investments. Most guys are just trying to find their one dream car, not make money off a flip.

All the group really needs is one or two pristine '95 Berlinetta's to go up for sale at a premiere auction like Amelia Island or at the Ferrari heavy auctions in Scottsdale in January. (I'm not talking with the muscle cars at Barrett Jackson) Then you'll know. We might all be very surprised what Ferrari buyers there think they are worth.

Robb