Asking Prices for Manuals still climbing!!
Discussion
100 IAN said:
The manual F355 world has gone crazy.
I have just bought-back by old F355 which I sold in 2002 with 20k miles on the clock and has now done 34k miles, all full documented with all MOT's, receipts, everything.
When I bought her the first time in 2000 a manual F355 was the poor man's version, but not now!
Because she was damaged and sold as a CAT D she hasn't gone up in value like other F355 manuals. I appreciate that people are wary of CAT D cars but availability of the parts required was very slow at the time so the insurers paid out and sold the car on, in its damaged state.
The car was repaired by Mike Osgood, long time Maranello bodyshop manager who set up on his own in the '90's. He used new parts and Maranello did suspension geometry set-up after the car had been repaired. It was then independently checked by 'Autolign' and re-assigned as 'Condition Inspected' rather than CAT D
Had the insurance company paid for the repair no-one would now know and the car would be worth ??? but as it has the dreaded 'previous CAT D' people are wary of it, but I guess it means I can use her without worrying about adversely affecting her value.
(I know an owner just like this, scarred to drive his F355 because he thinks every journey is going to devalue it - sad)
If it's the car I think it is, then it changed hands for around £26k in 2011/2012. Early car with non airbag steering wheel right?I have just bought-back by old F355 which I sold in 2002 with 20k miles on the clock and has now done 34k miles, all full documented with all MOT's, receipts, everything.
When I bought her the first time in 2000 a manual F355 was the poor man's version, but not now!
Because she was damaged and sold as a CAT D she hasn't gone up in value like other F355 manuals. I appreciate that people are wary of CAT D cars but availability of the parts required was very slow at the time so the insurers paid out and sold the car on, in its damaged state.
The car was repaired by Mike Osgood, long time Maranello bodyshop manager who set up on his own in the '90's. He used new parts and Maranello did suspension geometry set-up after the car had been repaired. It was then independently checked by 'Autolign' and re-assigned as 'Condition Inspected' rather than CAT D
Had the insurance company paid for the repair no-one would now know and the car would be worth ??? but as it has the dreaded 'previous CAT D' people are wary of it, but I guess it means I can use her without worrying about adversely affecting her value.
(I know an owner just like this, scarred to drive his F355 because he thinks every journey is going to devalue it - sad)
I'm seriously starting to question the sense in keeping mine (01 manual 360 spider, LHD, 21k km)
If values really are at the level talked about in this thread then that money could make a huge difference in my life
On the other hand..... I don't actually need the cash and if values continue to rise then I might be silly to sell it.
The elephant in the room though is that I actually bought it to enjoy (and do so at every opportunity) without regard to future value.. This outlook is becoming harder and harder to rationalise the higher the value goes.
arggggh... what to do?!!
If values really are at the level talked about in this thread then that money could make a huge difference in my life
On the other hand..... I don't actually need the cash and if values continue to rise then I might be silly to sell it.
The elephant in the room though is that I actually bought it to enjoy (and do so at every opportunity) without regard to future value.. This outlook is becoming harder and harder to rationalise the higher the value goes.
arggggh... what to do?!!
K50 DEL said:
The elephant in the room though is that I actually bought it to enjoy (and do so at every opportunity) without regard to future value.. This outlook is becoming harder and harder to rationalise the higher the value goes.
this is exactly the issue i've got, i bought mine to use and enjoy, i've already got one garage queen didn't want another and now i've ended up with two loli see a few dealers with quite a lot of manual 360 stock that have high asking prices, spiders and coupes. but months later they still have them, so has anyone actually sold a 360 manual for 90k or more? would be interested to know from anyone who has. are these values correct or just dealers trying to jump on the bandwagon of manual cars being rare, i test drove a 360 spider manual early this year and thought it was awful so decided it wasn't for me.
Just my 2ps worth as a casual observer and an ex owner of a few 360s. I noted prices generally flattening off over the last 8 weeks. Prior to this and for a good while, every new manual 360 Modena coming to the market seemed to be priced 10% higher than the last one, or more in some cases...then the cars seemed to stick. Lots of adverts with strap lines such as 'investment opportunity' and 'rare manual, don't miss this one'..
I haven't seen any reductions in asking prices but am of the view some owners with cars bought circa £45-50k looking to cash in will simply withdraw from the market place and enjoy the cars or sit tight at the advertised price just to see, the cars bought at top money by owners desperate not to miss out on the wave may well be regretting paying £85-90k if they were simply looking to turn them.
I'd love to buy another Manual Modena, buy for the life of me, wouldn't want to pay £90k the good ones are advertised at.. Time will tell of course
I haven't seen any reductions in asking prices but am of the view some owners with cars bought circa £45-50k looking to cash in will simply withdraw from the market place and enjoy the cars or sit tight at the advertised price just to see, the cars bought at top money by owners desperate not to miss out on the wave may well be regretting paying £85-90k if they were simply looking to turn them.
I'd love to buy another Manual Modena, buy for the life of me, wouldn't want to pay £90k the good ones are advertised at.. Time will tell of course
acr_nick said:
i see a few dealers with quite a lot of manual 360 stock that have high asking prices, spiders and coupes. but months later they still have them, so has anyone actually sold a 360 manual for 90k or more? would be interested to know from anyone who has. are these values correct or just dealers trying to jump on the bandwagon of manual cars being rare, i test drove a 360 spider manual early this year and thought it was awful so decided it wasn't for me.
I know of a couple 360 spiders that have sold over 100k£ this year... sub 10k miles tho. andyleeds said:
I am planning on getting mine out this weekend for the first time, I have never actually driven it so potentially nerve wracking lol...... I will be coming home on egg shells.... Although there's a nice 1 mile of dual carriage way to open it up !
Do it!! You will be nervous, I was the same and I'm still the same every time I take it out 2 months later.It feels quite special every time but I'm always really weary of other drivers around me though, especially in heavy traffic.
Find somewhere good to open it up with no traffic, then you will enjoy it!
K50 DEL said:
I'm seriously starting to question the sense in keeping mine (01 manual 360 spider, LHD, 21k km)
If values really are at the level talked about in this thread then that money could make a huge difference in my life
On the other hand..... I don't actually need the cash and if values continue to rise then I might be silly to sell it.
The elephant in the room though is that I actually bought it to enjoy (and do so at every opportunity) without regard to future value.. This outlook is becoming harder and harder to rationalise the higher the value goes.
arggggh... what to do?!!
I have in mind a few more road trips that I want to do (in some cases again) over the next few years. I'm unlikely to sell before those are done so I'm not really thinking too hard about the value - apart from maintenance planning and at insurance renewal.If values really are at the level talked about in this thread then that money could make a huge difference in my life
On the other hand..... I don't actually need the cash and if values continue to rise then I might be silly to sell it.
The elephant in the room though is that I actually bought it to enjoy (and do so at every opportunity) without regard to future value.. This outlook is becoming harder and harder to rationalise the higher the value goes.
arggggh... what to do?!!
Having owned a 360 and a 430, I can honestly say they're good but nowhere near as good as some of the prices being asked. They're not old enough to be classic. They were produced in high numbers and they're too close to the current t gen cars that offer a massive hike in performance and tech. People buying at these prices are probably sloshing around in spare cash and wouldn't feel it when prices come back down to earth. I wouldn't buy one at this price to use, never mind buy one thinking its a safe place for my cash!!
SlartiF430 said:
Having owned a 360 and a 430, I can honestly say they're good but nowhere near as good as some of the prices being asked. They're not old enough to be classic. They were produced in high numbers and they're too close to the current t gen cars that offer a massive hike in performance and tech. People buying at these prices are probably sloshing around in spare cash and wouldn't feel it when prices come back down to earth. I wouldn't buy one at this price to use, never mind buy one thinking its a safe place for my cash!!
I totally agree. I have had a 360 and an F430 and wouldn't consider going into the market now - in fact I sold my F430 last year for pretty much the same money I paid for it 5 years previously (having successfully bought it to drive and enjoy) and changed into a 458 which is a huge leap on from the F430. I'm not bothered about what happens to residuals, I didn't buy it as an investment in the same way I didn't buy the previous cars as investments. If I happen to not lose too much when I chop it for something else (488 Spider? BigMac of some sort) that will be a bonus. MingtheMerciless said:
I totally agree. I have had a 360 and an F430 and wouldn't consider going into the market now - in fact I sold my F430 last year for pretty much the same money I paid for it 5 years previously (having successfully bought it to drive and enjoy) and changed into a 458 which is a huge leap on from the F430. I'm not bothered about what happens to residuals, I didn't buy it as an investment in the same way I didn't buy the previous cars as investments. If I happen to not lose too much when I chop it for something else (488 Spider? BigMac of some sort) that will be a bonus.
Both feel quite dated now. The 430 came out in 2005 and while much better built than the 360, there are still quite a few creaks and rattles.The biggest step forward to me on the 458, apart from the gearbox, was the vast improvement in build quality. The first Ferrari you would actually feel comfortable taking on a Euro trip with no niggling reliability worries in the back of your mind.
cgt2 said:
MingtheMerciless said:
I totally agree. I have had a 360 and an F430 and wouldn't consider going into the market now - in fact I sold my F430 last year for pretty much the same money I paid for it 5 years previously (having successfully bought it to drive and enjoy) and changed into a 458 which is a huge leap on from the F430. I'm not bothered about what happens to residuals, I didn't buy it as an investment in the same way I didn't buy the previous cars as investments. If I happen to not lose too much when I chop it for something else (488 Spider? BigMac of some sort) that will be a bonus.
Both feel quite dated now. The 430 came out in 2005 and while much better built than the 360, there are still quite a few creaks and rattles.The biggest step forward to me on the 458, apart from the gearbox, was the vast improvement in build quality. The first Ferrari you would actually feel comfortable taking on a Euro trip with no niggling reliability worries in the back of your mind.
Also keep in mind that these cars are old now (esp a 360/355), it remains to be seen how reliable a 10-20 year old 458 will be given how many sensors it has that could go wrong
MDL111 said:
Also keep in mind that these cars are old now (esp a 360/355), it remains to be seen how reliable a 10-20 year old 458 will be given how many sensors it has that could go wrong
This is a fair point - my 458 is a 2010 car and I have had problems with the reverse camera and the parking sensors. Thankfully nothing more important. The fact that there is a lot to go wrong means some stuff will go wrong (probably) and each thing that goes wrong is a pain in the swiss to deal with fixing and takes much longer than it should because F dealers like all the others don't keep parts in stock and of course involves a cost. That said, my 360 spent about one quarter of its time in the shop and my F430 virtually none except for servicing. So I guess like everything else it depends on the car and the use.
Have you spoken to any dealers yet to get an idea of what they could return you? Ring around and tell them all the details and get a idea of what they think they can realistically sell your car for. 430 manuals have risen in value but those that are looking to invest are probably looking for lower mile examples that might put yours with over 30k miles on a harder sell but there will be people looking for one.
Is yours a coupe or spider?
£110k, 38000 miles spider on market
£117k, 25000 miles spider on market
£119k , 40000 miles coupe with Lawton
Is yours a coupe or spider?
£110k, 38000 miles spider on market
£117k, 25000 miles spider on market
£119k , 40000 miles coupe with Lawton
SlartiF430 said:
Having owned a 360 and a 430, I can honestly say they're good but nowhere near as good as some of the prices being asked. They're not old enough to be classic. They were produced in high numbers and they're too close to the current t gen cars that offer a massive hike in performance and tech. People buying at these prices are probably sloshing around in spare cash and wouldn't feel it when prices come back down to earth. I wouldn't buy one at this price to use, never mind buy one thinking its a safe place for my cash!!
Absolutely. The market is overhyped and fuelled by speculative dealers constantly hiking up the price when a car hasn't sold for 12 months at a lower price.Anyone entering at these crazy prices has bigger cohona's than me
Gassing Station | Ferrari V8 | Top of Page | What's New | My Stuff