Why are 488's Selling So Far Below Sticker So Fast?

More competition now with Mac and Porsche which has an impact.

I just took delivery on my new 2018 488 a few weeks ago. The car is epic. The 488 is far superior to the 430 and 458 (I owned both) in my opinion. Heavy MSRP 488's take a larger hit on resale so if the car's sticker was at 320-340k yes they are discounted a good amount. I kept mine at 282k MSRP and purchased just the essentials knowing I would get hit harder with depreciation if I optioned it to the max.

 

I agree with the post above but they are also making more 488s than older v8 models as far as I know

 

Yes they are making more but it gave me the opportunity to finally get a new allocation which was a really enjoyable experience. In past years the 2 year waits made me jump to other brands..

 

turbo ( ͡° ͜ʖ ͡°)

 

Having just played around in this market, great question and I think it's a mixed bag of answers. Coupe discounts are much more substantial than spyders (not sure there is one on Spyders) Ferrari has openly said on conference calls it considers most of this model run will go to Spyder and my guess is some people took coupes out of necessity for other cars later vs. want and those are hitting the market now. I do also think there is some PAG and Lambo competition but the coupe/spyder thing is a big deal. I've also read (although totally anecdote here) that some owners have found the car to be more than they bargained for. Not sure about that one....I'm in a place where a Spyder doesn't make a lot of sense so the coupe is fantastic and the discount to sticker on a car with 300 miles drove me into the market.

 

Image Unavailable, Please Login I doubt it’s the production. The additional production capacity is going to new markets that never existed before. 488’s are crashing into each other in China, when it would have been two bicycles crashing together 20 years ago. Theoretically, you shouldn’t be able to feel this increased production in existing markets like the US. And that’s what Ferrari is counting on.

It’s all the new competition and there certainly are a lot. That and the Spyder-GTB distribution others have mentioned above.

 

It’s all about option with regards to depreciation hits. I smartly optioned my 2016 GTB lightly prior to my spider build at MSRP at 275 (standard paint, LEDs, Carbon seats) and sold it for sticker with 2000miles on it the following summer when my spider arrived. 3 other folks did the same thing but had MSRPs for thier GTB in the 320-330 range and it was only when they dropped thier prices to around 275 that they moved.....

 

Misleading. Maybe you should put “used” in your title. Then your question answers itself.

 

What are the smart options vs not smart options for newbies looking to spec their first Ferrari who want to minimize depreciation as much as possible when it comes time to sell?

 

Ease up on that expensive CF. Don't do a 20K paint option.

 

For me scuderia shields, electric seats, LED/carbon wheel were must haves for resale. 275 MSRP approx....

I added the suspension lifter for piece of mind, AFS lights which are required with the lifter , red stitching, and alcantara headliner to add some excitement to the build. 282 MSRP approx....

Car comes standard with nav and sat radio. Stock base radio sounds better in the 488 than the Hi Fi JBL sound in my 458 Italia did.

 

The US market might have been different, but in Europe one has to look back at the early '90 to have used Ferrari selling for more than new prices for more than 6 months after model introduction.
The 488 is more than 2 years old now, with no significant production backlog.
In addition there are more overpriced options now (all cosmetic carbon), which have very low value on used cars - increasing depreciation.

 

This is a good question if you're strictly thinking about depreciation. But, if you love the car and are really looking to own it for a long period of time, order all the options you desire. Who wants to have the unique opportunity of ordering a custom Ferrari and then cheat yourself from building it as you wish?

 

Likely because the 488 isn't the greatest design, looks-wise. Turbo engine also for many is a drawback. CAR magazine just named the 458 the greatest Ferrari of all time. Not sure about that, but it sure makes a bit of a statement about the 488.

 

I have the feeling that the temporary bubble of 2014-2015 has distorted expectations regarding depreciation.
Mid 2010 I could have bought a used 430 Scuderia 15% below its MSRP (instead I bought a used 599 GTB 30% below its MSRP).
I do not think it tells anything about the intrinsic quality of the cars.

 

Agree. Never recover heavy option costs. Just saved 70K (AUD) on a heavily optioned DEC 16 488GTB with 2900km.
Previously bought a second hand 430 with just about every option ticked 4 years old saved 330K!. That is massive depreciation! It then only lost 50K over the next 4 years I owned it.

 

Certainly hasn't happened over here. If you can buy em so cheap don't miss the opportunity. May well be just a temporary phase so take advantage of it while it lasts. Best not waste time overthinking it.

 

Nothing out of the ordinary here. Having money to buy the car doesn't mean one can drive it. Probably more funny how they all want to be in Ferraris' rather than anything else. No crime in having taste.

 

Agree

 

another silly thread.

 

Agreed with what others have said. Skip the CF.

 

Agreed.

As for optioning a car, unless you’re buying one to flip quickly, why would anyone shortchange their experience? Few have the opportunity to custom order a Ferrari. If you like certain options, order them.

 

My 2017, 1700 mile GTB sold this week for $263k. $300k sticker (shields, race seats, JBL, LED). The market is rough on the 488.