what is mileage worth on an f40? | FerrariChat
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what is mileage worth on an f40?

Discussion in '288GTO/F40/F50/Enzo/LaFerrari/F80' started by ross, Sep 21, 2014.

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  1. ross

    ross Three Time F1 World Champ
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    #1 ross, Sep 21, 2014
    just trying to figure out what the values are these days as i petition my insurance company to increase my coverage.

    lets say you have completely stock cars, with equal levels of condition - lets say top, and all in the same market - basically all conditions are the same except mileage.
    one has about 6k miles, the next has 13k miles, and the other has 20k.

    how do you value them?

    furthermore, does the 7k delta between the first 2 have the same value per mile as the 7k delta between the next 2?
     
  2. ttforcefed

    ttforcefed F1 World Champ
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    #2 ttforcefed, Sep 21, 2014
    1.3M USD for the 6k mile and 900K for the 20K mile?
     
  3. joe sackey

    joe sackey Five Time F1 World Champ

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    #3 joe sackey, Sep 21, 2014
    That sounds like a reasonable range for USA spec cars.
     
  4. ross

    ross Three Time F1 World Champ
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    #4 ross, Sep 22, 2014
    i was waiting for your response joe. thanks!

    so are we saying that all things being equal, mileage is worth $28.50/mile, regardless of lower vs medium vs higher mileage cars? just a straight line?

    i would have thought the mileage value between the low mileage cars and the medium mileage is about this, but i would expect that this $/mile calc would change somewhat from the medium to higher mileage cars. ie, the value of a mile at the low end ought to be higher than the value at the medium or higher end. simply from a percentage issue.
     
  5. joe sackey

    joe sackey Five Time F1 World Champ

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    #5 joe sackey, Sep 22, 2014
    Bear in mind this formula is subject to current condition, history, etc.
     
  6. willcrook

    willcrook F1 Rookie
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    #6 willcrook, Sep 22, 2014
    depressing to think that a trip from Manchester to London (500 miles) would cost $14,250 in deprecation :/
     
  7. amenasce

    amenasce Three Time F1 World Champ
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    #7 amenasce, Sep 22, 2014
    Not sure you can find a $900k 20k miles in Europe any longer, esp if in condition 1.
     
  8. ross

    ross Three Time F1 World Champ
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    #8 ross, Sep 22, 2014
    as specified in the opener, all conditions being equal....

    i still think the mileage value does a reverse hockey stick.
     
  9. 275gtb6c

    275gtb6c Formula 3
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    #9 275gtb6c, Sep 22, 2014
    Mind you, a 12.000 km car has done 500 km/year.....that is a trip to your mechanic and back.
    Mine did 40 k, and had a major overhaul, is now like new. But somebody had fun with it (a little).

    To me the discussion of miles and F40 is like having a very nice stereo but not listening to any music, or like Jim sais, having a beautiful girlfriend but....

    If you buy a 12k F40 you need a complete overhaul as wel. So just drive these cars....

    Ciao
    Oscar
     
  10. ross

    ross Three Time F1 World Champ
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    #10 ross, Sep 22, 2014
    oscar, i am of the same opinion. that is not the objective of the thread though. what i was trying to determine is a way to show chubb what my car is really worth by triangulating the recent sales data points.
     
  11. 275gtb6c

    275gtb6c Formula 3
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    #11 275gtb6c, Sep 22, 2014
    Hi Ross,
    Got the same discussion this week, also with Chubb....I valued the car myself as you only pay more premium. I valued the car for what I paid. My yearly insurance costs are getting pretty high....the "expert" just asked me as he doesn't know it anymore with these cars
    Wonder what happens when the market gets down.

    Ciao
    Oscar
     
  12. HMS

    HMS Formula 3

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    #12 HMS, Sep 22, 2014
    thats crazy
     
  13. ttforcefed

    ttforcefed F1 World Champ
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    #13 ttforcefed, Sep 22, 2014
    u chubb guys shld consider chartis
     
  14. willcrook

    willcrook F1 Rookie
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    #14 willcrook, Sep 23, 2014
    yep, imo this mileage sensitivity has pushed usability of the car into the wealth bracket of those who don't mind absorbing such insane costs

    come to think of it, haven't seen one on the road in the UK for awhile now.
     
  15. F40-R

    F40-R Formula 3

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    #15 F40-R, Sep 23, 2014
    How much is everyone paying for insurance and at what value?
     
  16. F40-R

    F40-R Formula 3

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    #16 F40-R, Sep 23, 2014
    Mine is $8800 a year @ $1,100,000.000
     
  17. 3604u

    3604u F1 Veteran
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    #17 3604u, Sep 23, 2014
    That's the spirit :) some day mate , I would buy one .

    Do post some pics of your car and drive safe :)
     
  18. 275gtb6c

    275gtb6c Formula 3
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    #18 275gtb6c, Sep 23, 2014
    Last edited by a moderator: Sep 7, 2017
  19. DreamCarrera

    DreamCarrera Formula Junior

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    #19 DreamCarrera, Sep 23, 2014
    In your estimate, do the 288 GTOs experience a similar $/mile depreciation curve.
     
  20. joe sackey

    joe sackey Five Time F1 World Champ

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    #20 joe sackey, Sep 23, 2014
    Ive never measured a depreciation curve for the 2988 GTO, but I'd suggest they are less mileage-sensitive than the F40.
     
  21. DreamCarrera

    DreamCarrera Formula Junior

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    #21 DreamCarrera, Sep 24, 2014
    Thanks for the reply Joe. I was thinking the same thing, mainly due to the GTO being more rare than the F40.
     
  22. joe sackey

    joe sackey Five Time F1 World Champ

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    #22 joe sackey, Sep 24, 2014
    Yes, and older.
     
  23. ross

    ross Three Time F1 World Champ
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    #23 ross, Sep 24, 2014
    my further thought on this subject is that mileage issues will start to fade as the car gets older.
    for example, on most of the vintage cars, nobody really cares whether one has 50k and another 100k. what matters is condition, history, provenance. i may be completely wrong, but as the f40 becomes a classic instead of a recent ferrari hypercar the mileage obsession should become less relevant to evaluation.

    in the meantime though, it is ridiculous.
     
  24. Caeruleus11

    Caeruleus11 F1 World Champ
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    #24 Caeruleus11, Sep 24, 2014
    But how long will it take to go from "recent Ferrari hypercar" to "classic"? It seems to me it is in that process now. I also think as long as there are examples with low miles around, it will always be somewhat of an issue. I think the reason why its not an issue on the older cars is because nearly all were driven hard, damaged, repaired, etc. I think with F40 when some people got them, they ascribed "instant classic" status to it and treated it as such. Btw, it clearly is an instant classic :) But you have to drive it too! :) :)
     
  25. joe sackey

    joe sackey Five Time F1 World Champ

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    #25 joe sackey, Sep 24, 2014
    Don't think about it Ross, or a cruise along the Riviera will never feel the same again!
     
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