Are 355's selling?
Discussion
The cars are selling.
Both Meridian cars advertised are sold (manual GTS and Berlinetta).
Cariconics manual Berlinetta sold (to me) :-)
One of the prettiest and best sounding Ferrari's ever. They look like good value to me.
And if they crash in price I will just have to look at it, and listen to that engine note. Damn
Both Meridian cars advertised are sold (manual GTS and Berlinetta).
Cariconics manual Berlinetta sold (to me) :-)
One of the prettiest and best sounding Ferrari's ever. They look like good value to me.
And if they crash in price I will just have to look at it, and listen to that engine note. Damn
OutOfSync said:
Wow. I hadn't looked at valuations in a while. They really have kicked on a bit, haven't they. I feel very lucky to have got one before the move.
I think the price is driven by a few factors, some of which will change, some which won't.
1. Interest rates - this will change, eventually.
2. Good looks (subjective I know, but the 355 is generally accepted and has been since launch to be one of the great looking Ferraris).
3. Last of the "proper" manual cars.
4. Relatively low running costs (in my experience). This may change as they get rarer.
5. Proper exhaust note instead of that shouty trick exhaust (which I can't bear, personally)
Not sure about the low running costs, mine was rather expensive over the 2.5 years and 20k miles I owned it .... Having said that I loved it so much, it broke my heart when I had to sell it - worth every pound. Will buy another eventually I think the price is driven by a few factors, some of which will change, some which won't.
1. Interest rates - this will change, eventually.
2. Good looks (subjective I know, but the 355 is generally accepted and has been since launch to be one of the great looking Ferraris).
3. Last of the "proper" manual cars.
4. Relatively low running costs (in my experience). This may change as they get rarer.
5. Proper exhaust note instead of that shouty trick exhaust (which I can't bear, personally)
Again, low running costs?? Though I think mine hit an age where things wore out but all at once. In the past few years its had new radiators, manifolds, brakes, clutch, various sensors and a million other things that I've replaced. Its mechanically brand new and its just about finished being made cosmetically brand new with a full respray and retrimmed interior.
Only problem is that its too good to drive now, and if its too good to drive then it may as well go. So if anyone is looking for an absolute mint freshly restored 355 Spider.... I know where there's the car for you!
Only problem is that its too good to drive now, and if its too good to drive then it may as well go. So if anyone is looking for an absolute mint freshly restored 355 Spider.... I know where there's the car for you!
Birkin1932 said:
Low running costs?
relative to what? a super yacht ?
Mine costs me a bloody fortune
lol. relative to what? a super yacht ?
Mine costs me a bloody fortune
Mine has averaged £900 per service per year. Insurance £750 per year to insure three people (one of whom has lost his licence for speeding fairly recently ...) I think that's not bad for the F word!
ZeroH said:
Jonty355 said:
Yeah, yellow with nero interior, RHD Manual. 49k miles
Fantastic colour on the spider... what do you think its worth?But then prices go up every other week so could I get more? It'll no doubt continue to increase so in some ways I should keep it, but I couldnt bare to see the first bit of wear on it. Plus I have a growing family so a 612 or California is probably where I should be looking.
Jonty355 said:
Looking at the prices, with mine being Damon Hills old car plus the fact its just finished being restored (exterior, interior, wheels, chassis, various mechanicals) its going up for £104,950, which I think is a fair price?
Being in the market for one Im aware of a number of recent sales prices (versus the ask) and would say that is high. But... you only need one person to disagree for a sale ! Good luck with it - best colour for a spider imo. 328's are not selling, and haven't been for the last year. Everyone looking at Porsches it seems. In 2014 both 328's and 930 turbos were about the same price in the £40k region generally. My 328 caught a bid 9 months before my 930 turbo moved in price. Now you can't find a decent Porsche (I guess because people see them going up in value), but there are still a good few 308/328s for sale. The 328 is about £75k now having peaked £10/15k above that, and the 930 Turbo is £100+. I cant see that differentiation lasting long and its the Porsche prices that have to settle down, rather than Ferrari prices going up that will close the gap.
bordseye said:
ferdi p said:
That's exactly what happens when owners want to cash in on a car that in some cases has doubled in value!!
Its also exactly what happens as you approach the end of a price bubble whether it be cars or houses.baypond said:
328's are not selling, and haven't been for the last year. Everyone looking at Porsches it seems. In 2014 both 328's and 930 turbos were about the same price in the £40k region generally. My 328 caught a bid 9 months before my 930 turbo moved in price. Now you can't find a decent Porsche (I guess because people see them going up in value), but there are still a good few 308/328s for sale. The 328 is about £75k now having peaked £10/15k above that, and the 930 Turbo is £100+. I cant see that differentiation lasting long and its the Porsche prices that have to settle down, rather than Ferrari prices going up that will close the gap.
There are still some 328's with sub 20K miles on the clock for sale for over £120K, but they're not selling at those prices, and as you say, there several for sale with 30K~50K miles on the clock for sale for @ the £75K mark.In the same vein, RHD 348 TB's/TS' peaked a year ago and prices are starting to slide back now (there are still some vendors asking £60K~£80K for TB/TS cars, but in general the 348 market has dropped back from being late £50K cars to being £45K~£55K cars, and they're not selling).
Testarossa's have also seen a similar levelling out/slight drop in prices in 2016.
The signs are that the Ferrari market has reached it's peak for some models, and is dropping back for others. It may be just a pause/dip in the market, but it's a pause/dip that has lasted almost a year now.
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