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Discussion in '458 Italia/488/F8' started by tatoweb, Aug 19, 2021.

  1. Tarek307

    Tarek307 Formula Junior
    Silver Subscribed

    Sep 26, 2018
    804
    Long Beach, CA & Alexandria,Egypt.
    Full Name:
    Tarek Salah
    Big mistake selling mine in February..just wanted to free up some cash. Car was my perfect spec with nice 38K driven miles didn't worry about miles..perfect color..very sad i sold. BTW i didn't keep the one i got a couple of weeks ago, hated the color and it didn't have electronic folding mirrors which i must have, was able to sell to a friend for a very small loss..for now i think i'm done with the 458, maybe if price comes down a bit again and i find black on black i'll get one.
     
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  3. Twwalton1

    Twwalton1 Rookie

    Dec 23, 2020
    31
    Westchester (Los Angles), CA
    Full Name:
    Terry Walton
     
  4. Twwalton1

    Twwalton1 Rookie

    Dec 23, 2020
    31
    Westchester (Los Angles), CA
    Full Name:
    Terry Walton
    Did I see this car at Fast Cars recently?

    [​IMG]
     
    mdrums likes this.
  5. plastique999

    plastique999 F1 Veteran
    Silver Subscribed Owner

    Nov 9, 2008
    6,845
    SoCal
    Full Name:
    Edward
    Haven’t taken it to Fast Cars…


    Sent from my iPhone using Tapatalk
     
  6. Sargepug

    Sargepug Formula Junior
    Rossa Subscribed

    Mar 23, 2020
    404
    NYC
    WOW! I actually bought my Italia back in March '20 for $195k w/ 4k on the clock. Was offered $240k few months ago and it's now worth like $260k and rising, from comps I see online.
     
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  8. Meshari

    Meshari Rookie

    Jul 5, 2014
    3
    Mine is a '14 and is worth about ~$150k here in the region. just crossed 26k miles. I'm a bit hesitant on selling it as I'm not that big of a fan for rosso corsa. would settle for any other color really and maybe a lower milage. but condition wise I really wouldn't want to sell mine.
     
  9. fazooley

    fazooley Formula Junior

    Apr 15, 2005
    296
    Ive been looking for a 458 for the last few months or so. Im astounded at the pricing on them now but ive seen them start to level off a bit. They seem to be about 25% higher then they were 18 months ago. It's making me so skeptical to purchase one as while I dont see them going back to the price from 18 months ago it does worry me that alot of people, myself included would be upside down pretty easy when the market course corrects itself.

    I've also been looking at Mclaren 570 or 650s just for the fact of the depreciation they've taken and while there also higher then they should be there about where the 458s were 18 months ago.

    I know everyone here loves there 458s and think there going to keep rising but I think we all know otherwise. Unfortunately im not in the position to just pay 50-80k over what a cars worth because i want one today. Does anyone know what the 458s are wholesaling for?

    Thanks
    Frankie
     
  10. pnd4pnd

    pnd4pnd Karting
    Silver Subscribed

    Jan 19, 2021
    66
    Los Gatos, CA
    Full Name:
    Eric Thune
    So what would I rather buy, the car that has appreciated or the one that has depreciated? IF the market corrects, the car that has depreciated will just depreciate further. It's like buying a stock that just dropped big time. There is a reason it dropped. Old adage, stocks making new lows make lower lows, stocks making new highs make higher highs. I'm sure many will disagree (likely those wanting to buy a 458).
     
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  11. fazooley

    fazooley Formula Junior

    Apr 15, 2005
    296
    I think like many I'm looking for a car that has taken the depreciation hit. When I was looking pre-covid, picking up one for 160k was like shooting fish in a barrel. This same car now is going for 200-220, and for no other reason but supply/demand and cheap money available. It's not like there appreciating like a 458 speciale or 488 Pista. I guess my only concern is that when the market levels off a 200k car drops to 185, not 150. I think thats pretty reasonable of an ask

    Frankie
     
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  13. pnd4pnd

    pnd4pnd Karting
    Silver Subscribed

    Jan 19, 2021
    66
    Los Gatos, CA
    Full Name:
    Eric Thune
    Supply demand is a real issue but the cheap money argument doesn't fly. Most people buying 458's pay cash. 458s went through the depreciation curve, and like many ferrari's bottomed out and now starting to appreciate.
     
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  14. 430jm

    430jm Karting

    Jun 11, 2017
    134
    Atlanta
    Nothing outside of a 12 cylinder sounds like the 458. And it never will. And frankly they are better looking than their replacements too, and where exactly are we using that extra .2 to 60?
     
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  15. Nafiz Ali Khan

    Nafiz Ali Khan Karting

    Jul 19, 2006
    54
    Phoenix
    Cheap money definitely plays a part. People can leverage assets like real estate to pull out cash to make the purchase. Also, if you can qualify, you can get cheap loans for these old cars or anything else. Low interest rates and inflation are going to keep pumping up the traditional asset classes which will spill over into alternative assets. It seems like everything doubled in less than a year.


    Sent from my iPhone using FerrariChat.com mobile app
     
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