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Typical Difference Between Asking and Market Prices For F355

Discussion in '348/355' started by JoeG54, Sep 17, 2004.

  1. JoeG54

    JoeG54 Karting

    Aug 24, 2004
    183
    Bay Area, CA
    Full Name:
    Joe G
    I've been able (thanks to the tremendous amount of great information on this forum) to get a pretty good idea of typical "asking" prices for a 355. My question is -- what is a reasonable typical percentage discount from asking prices to arrive at "market" price, i.e. the prices at which actual sales occur?

    Thanks very much in advance.

    Joe
     
  2. 911Fan

    911Fan Formula 3

    Apr 15, 2004
    1,291
    Southern California
    Such rules of thumb are fairly meaningless. In the end if you and the seller can't agree on a specific price for a specific car, the presumptive "market price" is irrelevant.

    If you're unable to make a deal, by definition that means you haven't convinced the seller his price is too high. The only thing which will do that is the passage of time and an unsold car.

    Likewise, the seller hasn't persuaded you that your offer is too low. The only thing that will do that is the passage of time and an empty garage! :)
     
  3. TTG

    TTG Formula 3

    Jun 11, 2002
    1,534
    East Hanover, NJ
    Full Name:
    Todd Gieger
    Every buying situation is different so there's really no accurate discount you can expect...there are so many variables. Does the seller really want to sell it now? Or will he wait to get what he wants for the car? Or in the end, if he doesn't get what he believes is fair, will he just keep the car? etc etc etc...In my last buying situation, I ONLY wanted THIS particular car and after waiting nearly 9 months, I finally just said to the seller, "Whatever you believe is a fair price for the car, I will pay"....and I have absolutely no regrets b/c I did my homework on the car first.

    Hope this helps.

    Cheers,

    Todd
     
  4. F328 BobD

    F328 BobD Formula 3

    Mar 17, 2001
    2,327
    Southlake, TX
    Full Name:
    BobD
    I bought my '89 328 from a dealer several years ago. I negotiated 13% off the asking price.
     
  5. ghost

    ghost F1 Veteran
    Lifetime Rossa

    Dec 10, 2003
    9,836
    Singapore
    I agree with Todd that is difficult to generalize here, because there are variables on both the buyer's and seller's side that will obviously influence the spread. These include:

    (1) Seriousness to buy/sell
    (2) Narrowness (eg. black / black Fiorano edition 355 Spider) or broadness (eg. any 1998 355B) of interest on part of buyer
    (3) Ability of seller to consummate transaction (quickness and ease of payment matters to seller, all else equal)
    (4) Desire / need for liquidity on part of seller (related to (1))

    ...plus many more.
     
  6. richard_wallace

    richard_wallace Formula 3
    Rossa Subscribed

    Feb 6, 2004
    1,950
    Cincinnati, Ohio
    Full Name:
    Richard Wallace
    As mentioned many variables will allow for some % to be knocked off - such as color, mileage, Service history, Books/Tools present, general condition, etc.

    However I have bought and sold a few f-cars and generally I ask 5 - 10% more - knowing no matter what the situation is - there is always some negotiation... The exception would be unless I am selling to a friend or to a specific group (like or local FOC club guys) - where I would know there is interest, knowledge, etc.

    In the general populace most people will say they will have to ship the car across country and will want to have enough off to at least split it... In general I think most people with high end cars and houses - will always ask a little more than what they really want.

    You also have to consider some people may owe more on the car than what the true market value is as well - thus you may find some people asking a little higher than what you think it is worth due to what they owe on it...

    Most standard dealers will mark up this and more - just by generalities of looking on some of the dealer web sites - 10 - 20% mark up is not uncommon - I am still seeing 1996 355 spiders listed for 110K - which is way over any one I have seen privately (more like mid 90's) in great condition with full service.

    Guys like Martin - price it pretty close to where they need to be to run the business. If you are buying from a dealer - expect to pay a little more - they are running a business with overhead - but also expect the car to be serviced and have all the stuff you would expect (like tools, books, etc.) maybe even a small warranty (like 30 day service).

    Hope that helps a little,
    Rich
     

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