Valuing my 355

While I love my 355, I have two young kids and just do not drive it enough. I'm thinking of selling it, and went to places like Autotrader, etc.. to get a quick gauge of prices. I was surprised as they were a good tick higher than I thought (some looked pretty stupid actually). I'm well aware that the asking price is definitely not the same as the price these things actually trade at, but it seems like even the asking prices this time around were higher than when I bought the car a few years ago.

That being said, I think it's reasonable to assume that if the asking prices are moving, than the sale prices are moving in the same direction.

So (I don't have a pic handy right now, but I'll get one shortly): I'd like to hear the opinions here on what a car like mine should sell for.

1999 Ferrari 355F1 Berlinetta
~36000 miles
Modena Yellow ext.
Black int.

Pros:
-Car is in great shape
-Recent major (as in, I picked it up 2 days ago).
-Clutch replaced ~5000mi ago.
-Car is well documented. Has all maintenance records, original paperwork, including Monroney, delivery paperwork, original drivers assistance card, etc..
-Original (delivery owner) is a fairly famous American race car driver - famous enough to hold a few championships and his name is on the delivery paperwork and driver assistance card (not sure if this 'really' adds value, but it doesn't hurt, right?)
-Factory Shields
-Factory Challenge Grill
-Still has original stereo with CD changer
-360 Pump Mod
-Tool kit, inflation kit.
-Original Floor mats.
-Stock wheels (very clean, no marks)


Cons:
-F1
-Two black fobs, but no red fob.
-Interior is juuuust starting to get tacky. However, I'm addressing that shortly, and will likely sell fully 'destickied'.

Unsure:
-Paint is original (so never resprayed, but has some small nicks on the front bumper. Considering 36000 mi, I'd actually consider it very good shape - just not 'perfect').
-Tubi Exhaust (sounds awesome, but again, not 'original').


So, let me know what I should get for this thing. Throw out a number below or PM me. Thanks!

 

Needs pics, but if you address the sticky interior then I would say ask 70k and see where it goes. I wouldn't accept anything less than 60k.

 

F1 is not a con......

 

F1 is a con. I know I would not buy it at any price, but that is a personal thing.

 

Yeah, I know. I like the F1, but I would also argue that the Manual cars are more desirable and probably bring more money.

 

Ask A guy here who just bought one, not the case.

 

I believe the F1 issues has more to do with people beating the crap out of their cars and doing it when its not warmed up then it has to do with the actual unit being a bad design.. Just like my Porsche..its a triptronic..and i have had 0 issues with it.. but i don't abuse it either...just run it hard properly.

 

Don't have to work too hard to convince me! If I can get few more bucks with an F1 car, I'll take it!

 

Without a doubt.

Dave, I like the F1. It's awesome and a first for Ferrari. However, the market puts a premium on 3 pedal cars. One example from black horse isn't the market.

Ask any dealer anywhere. 6spd gets a premium.

As for the OP, I think you car should sell for about 50-60k, give or take.

 

Another classic example of the strangeness of your market.

Everywhere else in the world the MANUAL cars don't command any premium over the (six-speed) F1.

 

Without pictures it is hard to price it. Asking prices seem to be in the 60's & 70's. Expecting $55 - $60 would seem reasonable given the description.

As for F1's. I have one. Let's all be honest, 6 speeds are just easier to maintain. Always will be.

Until we have reliable repair options for the F1 system on this car, they remain the mystery system and it scares people away. The 360 pump swap is good. The actuator rebuild option is nice to have. The power unit solenoids are next and that is being worked on. We'll get there....but 6 speeds are just easier to maintain.

That said, I LOVE my F1.

 

Id much rather have an F1 system! I had a 6 speed in m8 95 355 and it was great. However after a few years in a 360 and then a Stradale Id personally never go back.

Having said that its a personal preference. there will be solid buyers for both IMO

 

Keep dreaming. It's the first road car with this system.

 

So are you saying that F1 cars are worth more in the US market than 6 speeds?

 

Apart from being a personal taste thing, in terms of production numbers, there are a lot less F1 cars than manual ones, making them rarer. For that reason alone, can't agree it's a con.

Congrats on your fantastic 355! Enjoy it in good health!

Kind regards,

Nuno.

 

Equal because there are folks that prefer each.

 

http://www.ferrarichat.com/forum/348-355-sponsored-bradan/462535-transmission-preference.html

Just for you, Dave. Well, I'm also curious so not just for you

 

Swan, I would love to see the car when you have time. I am in Houston (Kemah) and
I have been in the market for some time. I know what people are asking and actually getting for F355. Even if we can't make a deal I can give you good insight on the car and the market.

 

So far 6 to 2 in favor of 6 speed

 

9 to 6 actually and to say one or the other is a con is just ignorant. But that's to be expected here.

 

It's a pretty weird car where 36K in 15 years is considered high mileage, isn't it? My GUESS is that is the only thing that would keep it below $60K.

Regarding the tranny - There is a fairly large contingent who can swing either way, but of the "my way or no highway" group, the majority want to do it manually.

I hope that you can get enough that your total cost, including maint. will be about even.

 

Now it is 12 to 4 in favor of the 6 speed. Even if you add everything else into the F1 column, it is still 12 to 11 in favor of the 6 speed only. That means more than 50% of the potential interested parties would not buy a car because it has F1. So, why would saying that F1 is a con be "ignorant?"

 

The idea that "rare" equates to higher value is wrong.

The reason that a variant of these cars is "rare" is because they weren't ordered that way the reason the weren't ordered that way is because buyers didn't value them that way. Simple.

Why would you think that 18 years later something wasn't valued in terms of desire then is more so now. That's silly

Go find a green 355 with a black interior. I guarantee you that is a unicorn to coin a used term here. It may be one of one. Ok...now. Just because it is a rare unicorn, is it desired and valued accordingly. I think not.

F1 were the first of that type of transmission. The current versions of paddle shifters with dual clutches etc. are so far beyond the technology of an f1 that other than the paddles they really are not similar.

It is like 8 track music. It was the first of its kind. A cassette that you could play anywhere , etc. Would you value an 8 track player over an MP3 player? Maybe for nostalgia sakes yes. So maybe in that sense an F1 may have value in the future but currently it seems that gated models are more desired.

 

I think a possible downfall over time , lets say the next 10 or 15 years , when these cars will gain some traction and really start to take off in value , will be difficulty in keeping the f1 system functioning properly . I know there are alot of advocates here that claim it is fairly trouble free, but i do see alot of threads in regards to system problems. It may become very expensive and difficult to obtain replacement parts . It seems even now some parts can be costly , over time they may become even more costly , making the system impossible to service. because it is not a high volume unit it will not be practical or profitable for the aftermarket to step up and offer solutions. The simplicity of the manual trans may cause those cars to surpass the f1 in value. Kinda like when you see a chevy vega still running , those cars all had a fatal flaw and very few still run due to it , and are an oddity if you do see one.If an option in the future will be to convert to a manual clutch because of lack of serviceability, maybe those few remaining working f1 cars will command a premium for the simple fact that they still run and function. only time will tell

 

It's also worth noting that 3 pedal 430's are becoming very sought after and are selling at higher prices than paddles. Of course, only about 10% of 430's if I recall correctly were 3 pedal but the scarcity dynamic does not seem to apply to 355's. Fewer F1's yet the majority of owners prefer 3 pedal regardless.