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Why so many Spyders

Discussion in '348/355' started by Jeff348, Aug 23, 2009.

  1. Jeff348

    Jeff348 Formula Junior

    Aug 2, 2005
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    Well I'm sad to say I parted ways with my 348. It went to a good owner, so I know it will be taken care of, probabbly better. Now I've been looking a little bit at 355 spyders and I 've noticed a few things. First that there are alot of spyders for sale. I know the made more but it still seems like there are way more for sale. Good for me I guess. I was wondering why. I did the search thing and read about the top problems but it can't be all of them. You would think that being at the end of the model run they would be ironed out as far as problems. I also noticed alot of them with little to no service records. Maybe I'm looking in the wrong place. Not to mention a big price disparity. Is there somehting I'm missing? What do you guys think?
     
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  3. BLAMPEE

    BLAMPEE Man Card Status: Never Issued

    I noticed the same thing when I purchased my 1999 F1 Spider last year. There are tons of 'em withOUT service records. I originally wanted a yellow one but realized that they commanded an $8000 premium. I thought I was "settling" for a TdF Blue one but I am so glad I got this one instead. :). I also got the entire service records with her so I knew what had been done and what to expect to replace. Been pretty spot on the first 13 months and 5500 miles of ownership. It is my first Fcar, too! :D

    Hope you can find one to meet your needs. I'd pay a premium for a car with the service records....but that's just me.
     
  4. KKSBA

    KKSBA F1 World Champ
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    It seems when these F-Cars hit the auction block the records evaporate. Private party to party sales usually always preserve the records. And one previous owner dealership sales are usually OK as well.
     
  5. anunakki

    anunakki Five Time F1 World Champ
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    Hardtops and GTS are more likely to reside with a hardcore enthusiast and/or Ferrari fan.

    Spiders , while also owned by enthusiasts, were and are candy to non-enthusiasts looking for *image*. But when those service bills and quirks start showing up they want OUT.

    These people also are not going to be the type to keep immaculate service records.
     
  6. eyboro

    eyboro Formula Junior
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    The 355 Spiders were selling for over $200,000 as American's were willing to pay between 50-75,000 premium over sticker prices back in the mid to late 90's. The demand was so great in the USA that Ferrari decided to ship 80% of all Spiders produced to the USA. That's why you will find more Spiders for sell in the USA than anywhere else in the world.
     
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  8. Jeff348

    Jeff348 Formula Junior

    Aug 2, 2005
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    Thanks guys! I see why now, and unfortunatey I prefer the spyders. I guess I'm in for it. I was thinking as long as the seller has the last few service records I soppose that's not too bad. It's funny when you ask some of these guys about the records they almost always say the don't know. As if they haven't heard the question before. Wierd am I the only one asking?
     
  9. Jeff348

    Jeff348 Formula Junior

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    That's strange about the yellow. Did you notice a premium with the black ones as well. I'm undecided. I'll take red, yellow or even black. Lately silver is growing one me as well. I guess it depends on which car is in better shape.
     
  10. BLAMPEE

    BLAMPEE Man Card Status: Never Issued

    Yellow commanded the highest premium, then red, black, blue, and all the rest were less than market value. Get whatever color makes you smile. I was on a strict budget and couldn't justify $8k for a color. My TdF Blu is so beautiful! I never even saw the color or car in person and I'm so happy with her.
     
  11. UConn Husky

    UConn Husky F1 Rookie

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    #9 UConn Husky, Aug 23, 2009
    Last edited by a moderator: Sep 7, 2017
    +1, this makes sense

    As for why yellow commanded a premium...well I think we need a picture! :D
    Image Unavailable, Please Login
     
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  13. KKSBA

    KKSBA F1 World Champ
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    Could be an urban legend, but I've heard that yellow cars can give Bees and other insects woodies... They tend to follow you and swarm!

    Could be fun in a Spyder or GTS!
     
  14. anunakki

    anunakki Five Time F1 World Champ
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    #11 anunakki, Aug 23, 2009
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  15. James-NZ

    James-NZ F1 Veteran

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    #12 James-NZ, Aug 24, 2009
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  16. Jeff348

    Jeff348 Formula Junior

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    I tend to agree with you guys on the yellow cars. My wife is urging me that way also. I don't know if I'll pay more though. Thanks again. I'll keep you posted. By the way all your yelliow cars look great!!
     
  17. eyboro

    eyboro Formula Junior
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    You guys got it all wrong here, if you are planning in keeping the car for many years, I would recommend RED only. Yellow is a kind of trend now, (I agree and if I was in the market for a new Ferrari I would buy a yellow one now) but from an investment point of view I would only buy a red Ferrari.
     
  18. flyinlo

    flyinlo Karting
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    I don't know about bees, but I've had a bat chase me in my yellow Porsche. Both the Ferraris have been red, so I can't say if being Italian or German makes a difference!
     
  19. butcher

    butcher Formula 3

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    I agree with this opinion 100%.
     
  20. BLAMPEE

    BLAMPEE Man Card Status: Never Issued

    This is why Spiders with full service records--no matter the color--will continue to command a premium. I think the price disparity between Spiders with service records and those without will actually grow. The 355 Spider is one of the most beautiful drop-tops ever created. People will always want them. However, those that have proof that they have been maintained will not be seriously affected by all the ones popping up at auctions and these "Industrial-park dealers."
     
  21. rllucero

    rllucero Formula Junior

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    Some of the best advise listed in this post.
     
  22. gec

    gec Rookie

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    Ferrari's with service records should always command more money, but depends on the knowledgable buyer. I have seen many times first time owners go with cost, not realizing why this one is 10k less than another comparable. They usually find out when it's time to sell it. True dealers and most definately enthusiasts look for this when buying.

    On a side note, I was standing next to a father and son last month at a public auction in NH when an 96 gtb with 67k miles came up. The car had no service records and the bid started at 50k. They immediately upped, I quickly said to the father thats a lot for an opening bid, his reply was tell me where you can buy a ferrari in the 50k range. I just simply smiled and said your right. He bought the car for 56, 500. Have fun with the maintenance.
     
  23. Jeff348

    Jeff348 Formula Junior

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    I also agree. the problem is that it's pretty hard to find one with all the records. I was thinking. Is it as important to have all or just to have the last one? I 've been seeing some of those lately. I may start local first and then look futher out. I've seen some in my travels but not since I've been looking.
     
  24. Bullfighter

    Bullfighter Two Time F1 World Champ
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    #21 Bullfighter, Aug 25, 2009
    Last edited: Aug 25, 2009
    Not sure I agree.

    First, red is nice, but also very common and easy to find. Yellow has been a signature Ferrari color since the 1960s, at least -- I wouldn't worry about it falling out of favor. Daytonas, 275 GTBs and 250 GT SWBs seem to be consistently sought after in yellow. Also, 355s wear yellow very well because they are small and low. (The 360/F430 needs darker colors, because it is a bulky car.)

    Second, I wouldn't buy a 355 as an investment, because you're essentially guaranteed to lose money due to service and repairs over time. (Buy one to drive, or as a hobby.)

    Anyone who buys a used Ferrari without a recent (3-5 years) documented major by a dealer or shop you trust is tempting fate. A major service isn't just a new belt -- it's an opportunity for a serious Ferrari expert to go over the car and catch any potential issues (e.g., the infamous 355 fuel line fire due to improperly positioned clamps).

    As far as service receipts from 12 or 14 years ago, those are nice to have. But, you can always get recall info from FNA, and ultimately you're buying a car based on its condition right now -- compression results, all functions working, body/structural soundness.

    For the 355, obviously you would want records of the usual expensive issues unique to this car -- valve guides replaced, headers replaced (hopefully with something better than OEM), etc.

    As far as the 355 Spiders, I can see their appeal. Just be ready for some expensive replacement parts for the F1 gearbox and power top mechanism. I noticed an unopened F1 actuator switch for sale by a former owner at the "bargain" price of $2000 in a recent issue of Pilota (FOC mag). Not sure if that was a deal or not, but the 355 parts list isn't a fun place to shop. Service records are great, but stuff will break.
     
  25. swaq

    swaq Karting

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    If I was planning on keeping a car for many years I would rather get a color that made me the happiest during that period, rather than worrying about what the next owner cares about.
     
  26. gec

    gec Rookie

    Aug 24, 2009
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    Awesome response. Personally favor the Argento
     
  27. 355

    355 F1 Rookie
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    Jan 4, 2005
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    This post is right on. Also the other reason why service records are conveniently missing is because the millage on many of these cars is rolled back. I have seen many that have low miles but yet the seats and engine bay look like hell.
     
  28. KKSBA

    KKSBA F1 World Champ
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    I agree! +1000
     

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