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458 Values | Reason for selling

Discussion in '458 Italia/488/F8' started by jagged155, Oct 6, 2020.

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In the next 12 month, 458 prices will _____

  1. increase

  2. depreciate

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  1. Corradosv

    Corradosv Karting

    Oct 17, 2016
    120
    Monaco MC
    Dear all,
    it's a few years now that I am following the EU ASKING prices for some used cars I am interested in: Porsche 993/996 convertibles, BMW Z3M Roadster, Ferrari 458 Spider (which I have), and Ferrari 430 16M.
    I am putting all data in the attached graph, where each dot represents the average of the 5 lowest asking prices on the EU web market (mobile website): it may be an arguable choice, as it incorporates the highest mileage and worse specced cars (i.e. least desirable), but it is a consistent method at least. I am just checking that the 5 samples taken represent "real", LHD, accident-free cars.
    Let me point out that the apparent latest rise in the Z3M prices is due to the fact that I am now excluding import cars (very depreciated in EU) and automatic transmissions; also I am now excluding auto's for the Porsche's, as I would personally not be interested in these cars.
    I am not making any comment, but let me say it's hard to see any change in the 458 asking prices between pre- and post- pandemic, at least when Spider's and EU market are considered.
     

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  3. FHFP

    FHFP Rookie

    Mar 5, 2020
    28
    Full Name:
    F H
    The 458 is probably one of the best V8's produced by Maranello - both aesthetically and in engineering. The only other Ferrari of past (my generation) was the F355 that made such a leap from its predecessors as the Italia did when it was launched in 2009.
    In my opinion, the 458 design still looks fresh today, with a soundtrack to match. The 458 derivative's 488/F8 (barring Pista) are not as beautiful, have pretty much the same interiors, not much of a soundtrack and are far more expensive for just a bit more speed. If you've got a 458 Italia/Spyder - hang on to it! They will hold their values better than anything else you're going to buy from Ferrari for a while.
     
  4. Jo Sta7

    Jo Sta7 F1 Rookie
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    Oct 13, 2015
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    I drove an F8 today, it’s way more attractive than my 458, both outside and in. Not sure I want to own it though.
     
  5. Need4Spd

    Need4Spd F1 Veteran
    Silver Subscribed

    Feb 24, 2007
    6,090
    Silicon Valley
    Agreed, though to me, the 360 was more of a departure from the past than the 355.


    Sent from my iPad using FerrariChat
     
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  6. Art138

    Art138 Formula Junior
    Rossa Subscribed

    Nov 22, 2007
    891
    Ft. Lauderdale
    Why not try a Pista? Plenty to pick from at good prices; or wait until next year and buy a used F8.
     
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  8. Jo Sta7

    Jo Sta7 F1 Rookie
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    Oct 13, 2015
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    I tried to buy a Pista. I won’t put the reason for fall out on here, you can DM me. I’ll wait a year for F8 but not sure I want to. There’s something special about 458. Biggest upgrade for to F8 for me is how good looking it is outside/interior quality.
     
  9. TXG23

    TXG23 Rookie
    Silver Subscribed

    Sep 14, 2014
    48
    DFW, TX
    Full Name:
    Kell
    My 458 was a great car for my 3 years of ownership, but my newly acquired 488 feels superior in my opinion. Familiar enough but improved. Exhaust note is different, but it is not really a concern to me for all of the other plusses.
     
  10. Spezia

    Spezia Karting

    Dec 15, 2019
    72
    Full Name:
    John Weires
    Steady to slightly up on 458 prices over the summer. Perhaps less room to negotiate if there are people waiting in line to buy.
    If we end up with a W economic recovery this trend could reverse it's self.
     
  11. rotate

    rotate Rookie

    Jan 6, 2006
    26
    High though the production numbers may be for a car of this ilk, it still took me over a year to locate mine (Had to be a late Berlinetta, Forged Wheels, Lift, Full electric seats with heat, JBL, camera/sensors) so I had a lot of time to analyze the market. When I finally found my car at Ferrari Long Island, they had about 15 458s. In the last year, they cannot get them, and when they do come in, they seem to disappear, often with none or just a few in inventory. This seems to be the case at many of the bigger dealerships.

    As many have mentioned, I do think the lore behind the car is well merited, but it remains to be seen if that can sustain pricing on what was still higher production numbers. That said, if production numbers were everything it would be tough to explain why 430 Manual prices seem to have resettled as 458s at worst have been flat over the last year +.

    Anecdotally it seems like the really prime Italia example are selling at an increasing velocity. I don't know how long that will sustain, but I do think the Italia represents the high mark of ICE cars before major fundamental changes shift the landscape. In the era of electrification, I'm conjecture a 458 (rather than a 488/F8) is where a future collector/enthusiast would look for the purest expression of what made a Ferrari the "ultimate" of this era.

    Speaking personally, the values have left me in a bit of predicament. I originally intended to buy a higher milage car so that I could drive it sans guilt and enjoy the car as much as possible. Naturally, the one I found was a super spec, 2.5K miles (last year) 1 owner and so on. I have more than doubled the milage, and I find myself stuck between thinking I should just drive it and enjoy it vs wondering if I should take advantage of the market as it is and get something else super depreciated (like a 570S). Or to say screw it and start putting serious milage and a super prime example of a car that seems to be appreciating.

    Markets are fickle as hell and I have my own soapbox rant about what lies ahead. I do think we're in a bubble--not just Ferraris, all cars--but I still believe the 458 will experience less pricing volatility in general than anything else from the time period/class save maybe for a 991.2 GT3 Manual which seem to have bottomed out or near as make no difference.
     
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  13. x z8

    x z8 Formula Junior

    Nov 22, 2009
    655
    Florida
    Full Name:
    Jeffrey
    i also have a 458 and 991.2 GT3 manual. Both are regular production classics. Very special and you can drive them. Only add other cars to these highly emotional cars- as they will be regrettable sales. IMO.
     
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  14. plastique999

    plastique999 F1 Veteran
    Silver Subscribed Owner

    Nov 9, 2008
    6,048
    SoCal
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    Edward
    You like the rear?


    Sent from my iPhone using Tapatalk
     
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  15. plastique999

    plastique999 F1 Veteran
    Silver Subscribed Owner

    Nov 9, 2008
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    Edward
    Agree


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  16. Jo Sta7

    Jo Sta7 F1 Rookie
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    Oct 13, 2015
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    In black the car looked the business. Don’t love the rear. The front 3 quarter though is a triumph.
     
  17. italiafan

    italiafan F1 World Champ

    Jul 19, 2006
    10,801
    FL and NC
    Full Name:
    Stickbones Swagglesmith
    The 458 Spider is amazing. Incredible looks, performance, and sound. But when you want to turn the emotion meter up to 11....drive a 16M!
    :)
     
  18. vonbeeler

    vonbeeler Karting
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    Jul 28, 2012
    218
    Southern California
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    Mike
    Have no idea why but wholesale values are up for the last several months on a lot of cars and not just a 458 thing.


    Sent from my iPhone using FerrariChat
     
  19. Graz

    Graz Formula 3
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    Oct 15, 2012
    2,091
    New Jersey and Florida
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    Thomas
    I think exotic car dealer sales technique 101 involve 2 things. One is to make the car seem like it's inaccessible and then suddenly it becomes available. This then makes the potential buyer want it more than ever. And two, softly buy the desirable cars. That is, don't let the unsuspecting customer think they have something special so they're more likely to give up to the dealership where they of course will glean large profits. With the 458 the former technique is usually not necessary for as soon as they get a desirable one (right spec, color etc) it's pretty much spoken for right away. The latter technique however is universally true. I speak from experience as I've fallen for both techniques. It takes some time and maturity to learn the process;)
     
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  20. Culprit

    Culprit Formula Junior
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    Apr 4, 2011
    344
    Santa Ana, CA
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    Ian
    It's funny I hear this reasoning all the time... people will happily pay double for a 458 compared to a F355 just to save $5-10k on possibly having to do headers or an engine-out. Just the sales tax (in CA) of the 458 will keep an F355 serviced for the next decade or two.
     
  21. PA Wolfpacker

    PA Wolfpacker Formula Junior

    Aug 19, 2007
    491
    Naples, FL
    Full Name:
    Neil
    If you want a contemporary Ferrari that will potentially hold value pick up a 812SF. Production has ceased on this car (see thread on the V12 section). Total deliveries to the US were ~1,000. This will be the last NA V12 coupe produced (sans the VS versions).
    Even though a limited number were produced it still may take 8 to 10 years to see a positive turn, if at all.
     
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  22. Jo Sta7

    Jo Sta7 F1 Rookie
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    Oct 13, 2015
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    The car will drop 10-15% more though over the next year.
     
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  23. IloveGT

    IloveGT Formula 3

    Oct 17, 2015
    1,604
    I just came home last night with a spirited drive down to Malibu through the canyons. I just test drove the taycan turbo s and almost broke my neck with it's torque, and a week prior a F8 spider and in between a 718 spyder, which is a topless GT4.

    No thank you very much, car is not for sale. Everywhere I go, I am asked to trade in the car, even at porsche dealer. For those who have kept the 458 long enough, I bet you will regret when trading it in for F8.
     
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  24. Mikael-F360

    Mikael-F360 Formula Junior

    Apr 3, 2017
    688
    Finland
    Full Name:
    Mikael E.
    If you hear it all the time, there must be truth in what they say. In this case if you pay double the price, you get double the car. Not to diss a 355 in any way.
     
  25. jagged155

    jagged155 Rookie
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    Dec 3, 2016
    20
    Scottsdale, Arizona
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    Dan
    Auctions have been shut down and new car production was halted, then reduced.
     
  26. Gh21631

    Gh21631 F1 Veteran
    Silver Subscribed

    Feb 24, 2011
    6,136
    East
    Auctions have been open just online but values on everything are way up.
     
  27. Solid State

    Solid State F1 Veteran
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    Feb 4, 2014
    6,077
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    Nosmo King
    Probably the single car to lose the most on. Resale is not a good reason for buying it.
     
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  28. PA Wolfpacker

    PA Wolfpacker Formula Junior

    Aug 19, 2007
    491
    Naples, FL
    Full Name:
    Neil
    If you are referring to 812SF purchased new I would agree with you. Since production has ended you can only buy used and due to the GTS you can pick one up for a great price. From that point forward you will take less of a hit vs those that purchased new
    I totally agree resale is a poor reason to purchase a car but that was rationale in the OP post per the 458, so I threw out a used 812 as an alternative.
     

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