Will the 456 age like other ferrari 4 seaters?

Ferrari 456's seem to be good value when compared to to the 550 and f355. I know that other Ferrari 4 seaters seem to elicit little interest from owners/buyers but will the 456 be different? Its hard to compare a 456 to a car like the 412. I cant imagine such a beautiful, refined, and capable (185 mile top speed) car ever following the fate of the other 4 seaters. I dont mean to knock the others but this car seems to be in a different league. I also read an article in Classic & Sports Car Magazine (April 2002) where the 456 was praised this as a future classic and perhaps better than the 550. My question.....Is this car different than the other 4 seaters or will they be 30-40k shortly before sinking to 20-25k territory. Thanks in advance.

 

They already are in that league; although I doubt they will get to 20-25k. Very few of the older 2+2s are that low now. Closest would be the 400 GT 2+2.

Prices need to be normalized to the era in which the cars were new. The 412 new was 125 k$ US. Ferrari Market Letter (FML) Asking Price Index on the 412 now is 40 k$...a decrease of 70%.

The 456 new ranged from 220k - 250k. Relative to the original price, they have fallen 40-60%...and I doubt they have bottomed out. The FML Asking Price Index on the 456 (all models) has dropped 20% (108k - 89k $US) in the last 12 months (intro of the 612 Scaglietti).

Also, the 456 series will be more complex in pricing, since there are so many variants; whereas the 412 was only one model.

Note that the 365 GT 2+2 Index has RISEN 50% in the last 18 months!

 

Excuse my ignorance but what is the FML?

Cheers Kevan
See you down the road - with huge grins on our faces

 

My bad...I usually don't use acronyms without defining them. I corrected the original.

Ferrari Market Letter.

www.ferrarimarketletter.com

 

I doubt the 456 will ever get to $25k, but in 5-10 years you could see some selling for $50k. Auto examples may fetch lower than that when they are at their bottom (mid 40's). Right now the lower end for an early example in good shape with a few miles (15k or so) seems to be mid 70's retail.

They have many plus points such as performance, extra seating, looks, and of course a gorgeous V-12. They are also expensive to service and have had a few problems such as leaking windows that are expensive to properly fix. The number always thrown out to replace an auto transmission on GTA models is over $50,000!

I don't honestly see the 456 being more prized by collectors in 2020 over a 550, but it will appeal to a certain number of buyers that want more than one person to enjoy the experience with them. IMHO, the 456M will be the most desirable of the 4-seaters made up to this point, but there will always be a limited market for them.

As with all the 2+2s, it really is the case that you can have your (expensive to run) cake and eat it too. The whole family can enjoy them.

 

From the 456, we already know that it went the route of the 2+2s. The big question is: can the 612 break this trend (I don't think so)

 

Also remember in comparing a 456 to a 550, most people are comparing a 95 456 to a 97 or 98 550. A 98 456M is not going to be that much below a 98 550 (maybe 90k vs. 100-110k). This, in itself, is remarkable.

To be fair, the last few years of the 456 (2002, 2003) did see poor sales and thus horrendous depreciation. After time, it tends to even out, however...

I don't think the 456 will ever be as poorly regarded as the 400/412 series. I believe 456s will bottom out around 50-60k, not too much below where they are now.

 

Where is the 456M GT today (model yr 2000 to be more specific)? (No, I'm not in the market, I need to know for an insurance quote)

 

I've had my 456 for 5 years and yes have taken a hit on depreciation, however you don't buy a 2+2 as an investment or garage queen. I bought mine because I wanted to own and drive the finest 2+2 GT car in the world.

As for maintenance, I've done one major, 2 AUX belts, 4 or 5 oil changes, brake pads, one belt tensioner and an A/C clutch repalcement. All totaled, a little over $5K USD in 5 years. Some of the work I did, some done at local independants. The car does not leak air or water, starts every time...more than I can say for my wife's S-Class Merc. For the first year that car was on the verge of going back to Merc under CA. Lemon laws.

As for looks, the car is classic, Pininfarina rated the 456 as one of their top 10 designs of all time. There is no way anybody is going to confuse this car from the loins of a 400 or 412.

As for performance, not going to win the race in the twisties, but will make up for it on the straights. Many of my friends with 8 cylinder F-Cars have found out the hard way just how fast a 12 cylinder F-Car can go.

Finally, why is a Ferrari with extra seats so bad and not bad for Aston-Martin, Porsche, Bentley?

 

I have had the 456 for about two months and it is great. All the positive comments in the above post are true. I have fixed the window issue and installed Tubi and it is now a perfect Ferrari. The value of the early 456's have fallen to the lowest point ($70's). It will hover there for awhile MAYBE go up a little. What I really like about the 456 is they did not make that many 2K or 3K??. I live in FL and every corner there is a red 360. A 360 in FL is like a Lexus down here.

 

Agree,612 did not make such a splash on the automotive scene like the 456 back in 1992.
That one was considered to be one of the most beautiful designs at the time and one of the fastest (if not the fastest) production cars on the road.
612 on the other hand,not only struggles with controversial looks,while with terrific performance ,is already eclipsed by other cars.

 

My feeling is that it'll age better than the 550, and probably more in line with the 355. In the short term, all Ferrari seem to follow the depreciation trends of their predecessors, and it's in the long term that particular models are favoured. Both 355 and 456 are iconic 90's designs and will stand the terst of time. They're both cheap at the moment, and my guess is that it'll correct over the next 10 years or so, but not on any shorter timescale. I strongly suspect both will become classics, though you'll be waiting one or more decades for that to happen.

 

So why do you think the 412 is so poorly regarded?

Tom

 

There is a “poorly regarded 400i for sale today w 58,000 miles “pick of the day” for only $169,900.
It is so fun reading old posts and the posters crystal balls of projections in a cars value.
I owned (2) prior 308GT4 that were once hated and now loved…. And very nice ones are 100k+. Other 2+2 are considerably higher as well. The 456 has already bounced off their lows….great car

 

I think the 456 series has aged incredibly well. The 400/412 series has become more interesting to collectors, in the normal life cycle of things, than it was 15 years ago. In 2005, the 400/412 was about the cheapest possible Ferrari V-12. It's still near the bottom.

This week's FML has 4 412s, priced at $48.5k, $142.5k, $39.9k, and $134.5k (worth noting that the two high priced cars are from the same dealer, and the two low priced cars are also from the same dealer-- a different dealer than the one selling the high priced cars).

There are two 456Ms, at $56.5k and $69.5k.

The 412 automatic mentioned above is THE LEAST EXPENSIVE V-12 Ferrari in this week's FML, so take that for what it is worth.

 

Also worth pointing out that according to this week's FML Asking Price Index (which, I admit, can be strange in regard to absolute values but is decent in terms of relative values of models), the 400 series are THE LEAST EXPENSIVE Ferrari in the index and well below the 456GT.

 

The pretty 2+2s seem to do fine, like the 250 GTE/330 America, 365 GT 2+2, and the 456/M. Just not as well as their 2 seat contemporaries. 456/M could be an exception for the 6 speeds.

 

What does the FML show now for the 456 M GTA and the M and non M?

 

Regarding 400/412 pricing, the rarer than hen’s teeth 5 speed manual versions command a very significant increase in price. Another factor that boosts pricing significantly, given that these were all gray market cars: CARB sticker (aka “legal to be registered in California).

Not sure of which, if any, of the examples you quote above fall into these categories, but this could also explain the big difference in asks.

 

They will all go up!! Lots of people are following Bring a Trailer world wide and now also Mr. DeMuro's carsandbids.com. I would assume that lots of these "new" people in the classic car market have never understood that cars are possible to own and make money on... So the amount of possible buyers migjt increase dramatically. This might be the reason why we see a Volvo 240 at 36.500 dollars! (No I wasn't the buyer) And Porsche 964 Turbo for over 200k. And Toyota Supra for over 100k. When people realize the reliability and quality of the 456/550/575 and that you don't HAVE to service the car at a Ferrari workshop, I believe the prices will double during the next 5-10 years. We must also remember that new Ferraris are more and more expencive and people have more and more money. In addition, the super cars and hyper cars are in the 2-6 mill USD league, so a couple of gundred thousand for a car that can continue to climb, is not all that much. At least, that's what Enzo say.

And 5 years goes faster than you can imagine!!

Happy new year
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