Trading a '99 355 F1 Spider for a 430 Spider | FerrariChat
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Trading a '99 355 F1 Spider for a 430 Spider

Discussion in '348/355' started by networks, Oct 26, 2005.

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  1. networks

    networks Rookie

    Oct 26, 2005
    4
    Boston
    #1 networks, Oct 26, 2005
    Hi Guys,

    I'm new to this site. Looking for a little advice.

    I own a '99 355 F1 spider that is for sale so I can buy a 430 spider. Does anyone have a depreciation curve for these cars? It looks like they appreciate in the first one to two years then drop by some 20 to 40% in years three thought five. Is the appreciation in the early years just marketing hype or real?

    Thanks,

    Nick
     
  2. titanium360

    titanium360 F1 Rookie
    BANNED

    Nov 10, 2003
    3,446
    #2 titanium360, Oct 26, 2005
    can you give us some more info on your F355 for sale color year mileage. i am looking to purchase one
     
  3. networks

    networks Rookie

    Oct 26, 2005
    4
    Boston
    #3 networks, Oct 26, 2005
    The 1999 F355 spider I'm selling is red and tan with slightly over 8,000 miles. It has an integrated K40 system installed, 6 CD changer, Ferrari shields, electric roof (of course), Ferrari cover, only driven in the summer months, one owner and in impeccable condition.

    Nick
     
  4. lapeter

    lapeter Formula Junior

    Jun 13, 2002
    885
    SunValley ID&Kapalua
    Full Name:
    Al LaPeter
    #4 lapeter, Oct 26, 2005
    This time of year, it sounds like a 90K +/- 5K, especially on the east coast. That would be selling it yourself. Trade in would be significantly less IMHO.
     
  5. lapeter

    lapeter Formula Junior

    Jun 13, 2002
    885
    SunValley ID&Kapalua
    Full Name:
    Al LaPeter
    #5 lapeter, Oct 26, 2005
    PS- That's if the 30K service has been done.
     
  6. 1badboy

    1badboy Formula Junior

    Dec 11, 2004
    290
    Hermosa Beach, CA
    Full Name:
    Eric Rayl
    #6 1badboy, Oct 26, 2005
    Nick- I'm confused- are you talking about appreciation curves of 355 or 430? In any event there are no appreciation curves for either car- the 430 is selling for over MSRP everwhere- it's not going to appreciate now or anytime soon. It's only going to depreciate (unless you get one for MSRP and "flip" it within a year).

    And the 355 is also depreciating, but of course much slower now. It sounds like you have a nice car- but how much service records do you have? That is the key between it being a 90K or less car and a 100K + car. Lots of people buy these cars then "bail-out" when things start to need to get maintained/fixed (belts, tires, top works flaky, clutch, front "chin" or undercarriage scrapes, come to mind).

    I would subscribe to Ferrari Market Letter if I were you to see the index of 355 sales over the past year, plus read a lot on this site (just beware of the b.s. $$$ some people throw around who are either non-owners or have an agenda because they are buying or selling a particular model).

    Also post your car on ferrariads.com (here at top of page) and on Ferrari Market Letter as there are several guys looking for a car similar to yours.

    Let us know how it all works out- sounds like a great trade!

    Eric
     
  7. networks

    networks Rookie

    Oct 26, 2005
    4
    Boston
    #7 networks, Oct 26, 2005
    Hi Eric, thanks for the reply. Please see below.


    Nick- I'm confused- are you talking about appreciation curves of 355 or 430?
    In any event there are no appreciation curves for either car- the 430 is selling for over MSRP everwhere- it's not going to appreciate now or anytime soon. It's only going to depreciate (unless you get one for MSRP and "flip" it within a year).

    Nick: Great Eric thank you. This is what I thought. I've been on the waiting list for some time for the 430. The appreciation I was talking about is what you mention, above MRSP for one to two years max then it starts to depreciate.

    And the 355 is also depreciating, but of course much slower now. It sounds like you have a nice car- but how much service records do you have?

    Nick: I have all service records, but it hasn't need much service other then yearly mantainance which I had done at the dealer.


    That is the key between it being a 90K or less car and a 100K + car. Lots of people buy these cars then "bail-out" when things start to need to get maintained/fixed (belts, tires, top works flaky, clutch, front "chin" or undercarriage scrapes, come to mind).

    I would subscribe to Ferrari Market Letter if I were you to see the index of 355 sales over the past year, plus read a lot on this site (just beware of the b.s. $$$ some people throw around who are either non-owners or have an agenda because they are buying or selling a particular model).

    Nick: I do see a lot of b.s. when it comes to Ferrari pricing.

    Also post your car on ferrariads.com (here at top of page) and on Ferrari Market Letter as there are several guys looking for a car similar to yours.

    Let us know how it all works out- sounds like a great trade!

    Nick: Excellent Eric, thanks so much.
     
  8. $VIX

    $VIX Rookie

    Sep 12, 2005
    36
    Pelham Manor, NY
    #8 $VIX, Nov 1, 2005

    I agree with Eric. The Ferrari Market letter offers a good indication of what people, other than eBayers, are asking for their cars. While there are numerous Ferraris for sale, you will find very few that are in perfect, as new condition with low mileage, up to date service and all items intact as when the car was originally delivered new.

    If your car is as decribed above, it should be worth $96-110K. There are buyers out there who are searching for perfection and that is who you have to market the car towards, not the price shoppers or bargain hunters.

    Perfection will always sell for a premium. The 355 Spider still offers good value as the 360 Spider still sells for $70k, give or take a few thousand, more.
     
  9. networks

    networks Rookie

    Oct 26, 2005
    4
    Boston
    #9 networks, Nov 1, 2005
    Thank you. I'll let you guys know how it goes.

    Nick
     

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