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Well then, what is THIS 456 worth?

Discussion in '456/550/575' started by Smiles, May 20, 2005.

  1. Smiles

    Smiles Moderator
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    Nov 20, 2003
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    Fchat user vref posted that he bought a 1997 automatic 456 for $40k. That renewed my interest in 465s!

    Here's one that's on offer:
    http://www.auto-palace.com/U1022/U1022.htm

    It's a 1995 6-speed with almost 16,000 miles. It's been sitting on the showroom floor a good number of months, but they're still asking $83,800.

    What do you guys think it could be had for?
     
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  3. darth550

    darth550 Five Time F1 World Champ
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    It seems like either these guys are morons or the owner who consigned it to them is.

    I guess it could be had for $83,800! ;)
     
  4. Smiles

    Smiles Moderator
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    Actually, they have listed it in Hemmings for $83,000...
     
  5. donv

    donv Two Time F1 World Champ
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    To be honest, I think there is more to the story on the guy who got the 456 for $40k... Either he bought it from an idiot or there is something seriously wrong with the car.

    I have been watching asking prices for 456s for a long time, and asking prices have held in the 70s for the past year or so. I'm sure selling prices are lower, but look around and see what you find.

    If the windows have not been done, deduct $10k. If service has not been done, deduct at least $5k. So on this car, with windows and service done, excellent cosmetics (can't tell from the pictures), and a clean PPI (everything works), I would say $75k. If it needs everything, $50-55k.
     
  6. LSU348

    LSU348 Formula 3

    Dec 19, 2003
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    Look at his other car listings. The prices are crack pipe high.
     
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  8. WDR328

    WDR328 Formula 3

    Dec 11, 2003
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    These guys are biding the car up just because it has RELATIVELY low miles. A friend of mine bought a 95 with 30K on it, all of the service done including the windows for 52K. It needed some body and paint work done on the passenger door he had that done for $2800. The car looks and drives great. The only thing about this deal was that there was a motivated seller. If everything checks out offer them 65K, all they can do is say no. But if they are good salespeople they might go to the owner and say this is a legit offer, what do you want to do? Or they will come back FORGET IT! Remember this car does not rate at the top of the list of Ferraris to own. So with a little luck and persuasion you might be in the driver's seat, and that is not a bad place to be.
    ________________________________________________________________
    F512M-FLAT, FAST AND FURIOUS
     
  9. vref

    vref Karting

    Dec 18, 2003
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    No nothing else to the story, the car does need the windows done and the cam belts, However nothing is seriously wrong with the car. I bid the car kinda low since its a 4 seater. I'll post pics when everything is done.
     
  10. peterb

    peterb Karting

    Mar 26, 2005
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    milan italy
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    they are also asking 66.800$ for a 91 348- i think they are little optimistic in terms of the value of their used cars
     
  11. Neal K.

    Neal K. Karting

    May 9, 2005
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    I believe the price paid was 40K because the 456
    had earlier been "totaled" by the insurance company.
     
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  13. Smiles

    Smiles Moderator
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    Is that true, Jim? Is it a salvage title?
     
  14. vref

    vref Karting

    Dec 18, 2003
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    Funny, If it had a salvage title it would have more wrong with it than stated above. No, its not a salvage title. Its a repo from a doctors wife who got divorced, and couldnt pay for it anymore. Fortunally, its been sitting in the garage for most of its life, since it a collection of 7 cars. (no other Ferraris)
     
  15. Smiles

    Smiles Moderator
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    I think you got an excellent bargain, Jim, even if it needs some rather expensive maintanence.

    By the way, the 1995 456 in question supposedly has had a major service as well as the windows repaired. However, ALL of the prices listed by The Auto Palace seem overly optimistic, and I don't see their inventory turning over very rapidly.

    I'm sure I would use a modern 456 more than my 1967 330 GT, but I wouldn't give up the older Ferrari for the newer. It would have to replace my daily driver...
     
  16. vref

    vref Karting

    Dec 18, 2003
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    Jim
    That was why I bid the car low. It took me almost a year to sell the 355, for decent money. I see people asking big bucks for their Ferraris on line, but some of them have been on the market for 1 Year +. Some people wait a long time for those big numbers, and I am not sure they even get those prices. Plus with gas at almost $3/gal, 12 cylinder cars just are not that popular.

    I was unopposed in my bid for the 456. It was in the newspaper as a sealed bid.
     
  17. donv

    donv Two Time F1 World Champ
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    Sometimes you get lucky on those sort of deals. Sounds like you did. Proves it never hurts to put in a low bid.

    I think you got it for $20k less than it was worth, if it's as you describe.

    Have fun with it!

     
  18. jimstet

    jimstet Rookie

    Jun 1, 2005
    12
    excuse my ignorance, but I am buying 456 1995 28K miles and what does the window fix consist of? thanks
     
  19. donv

    donv Two Time F1 World Champ
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    They replace the rear quarter windows, the seals, the window motors, and regulators. My invoice from Ferrari of Seattle states:

    "Perform factory authorized window gap repair. Install new components supplied in factory repair kit: New 1/4 and door windows, window regulators and motors, new door and window seals, hardware, etc. Adjust and reassemble, verify correct operation."

    The amount billed was $8,848, which does not include the cost of shipping the car to Seattle (my local dealer was not authorized to do the window upgrade).

    Ferrari covered this repair under warranty, even though most of the cars were out of warranty, until a couple of years ago. Mine, for instance, is a 1995 car and Ferrari paid for the window mod in 2002.

     
  20. Ary

    Ary Rookie

    May 18, 2004
    1
    I drove 6 hrs to see it almost one year ago.
    No records.
    No window upgrade.
    And some parts of the car where painted.
    I have seen beter once.
    PS. Rear shocks leaking!
    BTW They had a grate looking 280 GT!
     
  21. Smiles

    Smiles Moderator
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    That's interesting. The salesman, Frank, assured me that the windows were done...
     
  22. Joe G.

    Joe G. Formula 3
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    first year 456
    yikes

    i'd offer 40k
     
  23. Smiles

    Smiles Moderator
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    If anyone's interested, the car is still for sale.... at the same price, it seems!
     
  24. switchcars

    switchcars Formula 3

    Jul 28, 2005
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    we did an inspection on it for another member...both window upgrades have been done, and there has been paintwork on the front bumper and rear fenders (supposedly due to rock chips).
    The tech inspection didn't find rear shocks leaking, but there was a minor oil leak. Last I knew their bottom line was $65-70k.
     
  25. Seth

    Seth Formula 3

    Feb 8, 2004
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    Texas
    ummm just wondering but what is this $10K window upgrade????????
     
  26. andrewg

    andrewg F1 Rookie
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    Scroll Down a whole 6 posts in this very thread to find out!
     
  27. Smiles

    Smiles Moderator
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    Thank you very much for your post, Doug.

    I suppose that's their loss; I would have bought it at $65k, when I originally posted this last May. At the time, the sales staff told me that their asking price was firm. So still it sits in their showroom. (And I would be a little wary of any car that has basically stood still over the past two years or so...)
     
  28. switchcars

    switchcars Formula 3

    Jul 28, 2005
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    Well, according to them, it sold to a local guy that owned a dealership, he had it for 8 months or so, put 3k miles on it, got bored of it and traded it in for a new Porsche. I even have the guy's phone number somewhere.....not that it matters, but that was their explanation to why it was still there.
     

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