RE: PH Fleet: Ferrari 599 GTB
Discussion
Si_man306 said:
A gorgeous car in a gorgeous colour- and something I would actually buy rather than dream about if I had the money. Am I right in saying it was £40k deposit with £350 a month? Sounds like 'good value' to me! My exige was £286 (albeit with a smaller deposit).
what was deal with exige?Amateurish said:
365daytonafan said:
Chris Harris said:
toppstuff said:
Look at this. Just think, for the price of the likely cost of depreciation and finance cost of the 599, this manual box ( high mileage but loved ) 612 could be owned outright.
I find it amazing how sensitive Ferrari prices are to mileage.
Surely this 86,000 mile 612 has plenty of life in it given that big money has been spent on servicing.
I'd love to see how well this car has worn its age and mileage up close.
http://www.pistonheads.com/sales/4110837.htm
Apart from making me desperately want to own this car, don't adverts like this make us all want to pitch-up at the owner's house and just hug him (her?) for using a 612 as intended.I find it amazing how sensitive Ferrari prices are to mileage.
Surely this 86,000 mile 612 has plenty of life in it given that big money has been spent on servicing.
I'd love to see how well this car has worn its age and mileage up close.
http://www.pistonheads.com/sales/4110837.htm
Marvellous stuff.
Was this a scam? It seemed very cheap!
Mermaid said:
London John said:
Anybody who thinks Ferrari V12's won't continue to dump in value is deluding themselves. I know from painful experience, I've owned a few of them. The 599 is absolutely the best value "super car" out there, but it'll still continue to fall.
Don't know much about Ferrari's but that sort of makes sense in this environment. Anyone care to tell me which Ferrari, from the last 10 years, has resisted the ravages of depreciation. Thank you 
Good, low mileage 360s have stabilised.
F430 recently went up in value.
Good, low mileage 550s have strengthened.
Caburettor 308s are strengthening.
Testarossa is going up.
Classics - Dino has gone up loads, as has anything from the 60s - a few years ago 330 GTCs were £80k. There's one on sale for £250k today.
According to the dealers I have spoken to, people buying cars for Australia has moved prices. But the key that I have found is that these cars are really, really dependent on mileage - not even condition! I have seen ropey 20,000 mile 360 Spiders for 50k +, and better (but not perfect) 40,000 mile cars for £45k. I'd rather have the latter to drive and live with - but it's a worse resale prospect. This has made buying a Ferrari a problem for me. My cars get used (and religiously cared for) - but I don't want it to depreciate like a stone just because I have driven it. Yet buying a Ferrari that will do 5-8,000 miles a year seems like chucking money away.
And it's not an economy to buy a snotter for £30k. The costs on these (360) are amazing, even if the work is done by specialists. And every £35k car I have seen needs £10k worth of work. There are people who work on them themselves (notably a chap who posts on here, and is by all accounts meticulous) - but I don't have the time to work on cars, so labour costs are a factor for me.
All in all, these are tricky beasts to make money on if you want to actually drive them, it seems! That Gallardo Spyder is seeming like a better bet for 2 years' worth of supercar motoring. Higher initial cost, but resale seems nothing like as sensitive to colour or mileage.
London John said:
Anybody who thinks Ferrari V12's won't continue to dump in value is deluding themselves. I know from painful experience, I've owned a few of them. The 599 is absolutely the best value "super car" out there, but it'll still continue to fall.
You are quite right - according to Harry Metcalfe in EVO this month, Glasses Guide have wiped £3525 off the value of a 599GTB this month alone
Sorry to be the bearer of bad news!rgw2012 said:
You are quite right - according to Harry Metcalfe in EVO this month, Glasses Guide have wiped £3525 off the value of a 599GTB this month alone Sorry to be the bearer of bad news!
Sorry to be the bearer of bad news!
Just because a guide wipes £3.5k off the value, it doesn't actually mean every car has just depreciated by that amount!Anyway, where's this video Chris?
AyBee said:
Just because a guide wipes £3.5k off the value, it doesn't actually mean every car has just depreciated by that amount!So you're right - they didn't lose that this month - they lost it in the month before which the price guide actually reflects
The real trick with any car isn't keeping it's "value" - it's being able to sell the f
ker. So many people assume that because their car is "valued" at a price, they will receive that. What those guides don't tell you is that no-one wants your yellow car or no-one local to you wants your car at all or local dealers have 10 of them or whatever.When it comes to something like the 599 - the odds are that it will be sold 'when the opportunity arises' - e.g. you don't decide when to sell, you sell when someone decides to buy
AyBee said:
Just because a guide wipes £3.5k off the value, it doesn't actually mean every car has just depreciated by that amount!Anyway, where's this video Chris?
rgw2012 said:
No, it certainly does not mean that every car has depreciated by that amount as there are variable factors for each individual car eg mileage, condition, warranty, servicing etc etc. But it certainly does reduce the market benchmark value for every 599GTB, then you factor in the variables and adjust the value accordingly. Didn't think I'd have to explain that on a car enthusiasts site
I think the point is that the guides themselves aren't often accurate, particularly for specialist stuff like this and also because they fail to take account of local differences. We know dealers who'll pay into book for certain cars simply because their own data tells them that they have a better market for stuff than the books would suggest.rgw2012 said:
AyBee said:
Just because a guide wipes £3.5k off the value, it doesn't actually mean every car has just depreciated by that amount!Anyway, where's this video Chris?
You're the one telling Chris his car has just lost £3.5k which is bks. I know full well what the values are based on, but as dogvan pointed out above, they're just that, a guide, and the value was for last month (i.e. before Chris bought his) and in order to establish what he's lost, you'd have to know what he bought it for...if he bought for £5k under this guide you so firmly believe in, then he's earned £1.5k last month. I don't think that guides are as applicable to supercars as they are to ford focus' et al since condition, service history etc are so much more important with a Ferrari. "Didn't think I'd have to explain that on a car enthusiasts site" AyBee said:
rgw2012 said:
AyBee said:
Just because a guide wipes £3.5k off the value, it doesn't actually mean every car has just depreciated by that amount!Anyway, where's this video Chris?
You're the one telling Chris his car has just lost £3.5k which is bks. I know full well what the values are based on, but as dogvan pointed out above, they're just that, a guide, and the value was for last month (i.e. before Chris bought his) and in order to establish what he's lost, you'd have to know what he bought it for...if he bought for £5k under this guide you so firmly believe in, then he's earned £1.5k last month. I don't think that guides are as applicable to supercars as they are to ford focus' et al since condition, service history etc are so much more important with a Ferrari. "Didn't think I'd have to explain that on a car enthusiasts site" I personally couldn't give a toss about Glasses Guide or the CAP guides or Parkers or whatever so I don't "firmly believe in them" - I quoted what the industry uses as a market benchmark and was careful to state that there are many variables affecting the guide values. As Stuart remarks, dealers will pay whatever they think they can still make a profit against, depending on the market available to them. Couldn't agree more.
So your response was b
ks and you didn't need to explain it Amateurish said:
mik_jg said:
Looked cheap but according to the trade guides (I work in a garage acouple of days a week) it was above trade money.
Really? What's trade for an 80k 612 of that vintage then?As has been rightly stated, these are trade GUIDES; there are cars I'd quite happily pay over the odds simply because you have a buyer waiting for them or have proved good news. Personally speaking, if I'm taking the plunge on something like that 612 I'll ring around a few other guys in the trade and find out what they would pay for it. Then I'd probably ignore them and buy it anyway...
mykhunt said:
Tres bien.Firstly, I had no idea you could open the rear quarterlights at all.
Secondly, it looks fab. And sounds fab.
Thirdly, it's a 620bhp Ferrari. What's not to like?!
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