The £100K 458...

[PrancingHorses]

Order66 said:

So I guess thats £116k if you add the fees. £3k down on what it was being advertised for pre-lockdown. Doesn't feel like a massive market move to me.

Its a big move from 12 months ago...would have been worth £135k all day.

[Durzel]

It’s possible for a 12 month older car to be worth less? There ought to be a word for this phenomenon.

[Cheib]

Order66 said:

jjr1 said:

Sold for £110,000 after the close.

So I guess thats £116k if you add the fees. £3k down on what it was being advertised for pre-lockdown. Doesn't feel like a massive market move to me.

Not necessarily. Could be they Collecting Cars cut their commission to get the deal done...that’s what quite often happens with normal auctions when deals get done after the hammer.

[PrancingHorses]

Durzel said:

It’s possible for a 12 month older car to be worth less? There ought to be a word for this phenomenon.

Not a word but a quote from many owners on this forum “the last of the naturally aspirated v8...they will only appreciate”

[ferdi p]

You can't argue with the way these 458's avoid depreciation like others...

2010, 458, 18k miles, no warranty, 110k

2018, 720s, 5k miles, 2 year warranty, 130k

Truly amazing to be fair...

[GT4RS]

Cheib said:

Order66 said:

jjr1 said:

Sold for £110,000 after the close.

So I guess thats £116k if you add the fees. £3k down on what it was being advertised for pre-lockdown. Doesn't feel like a massive market move to me.

Not necessarily. Could be they Collecting Cars cut their commission to get the deal done...that’s what quite often happens with normal auctions when deals get done after the hammer.

Yes, this could be the case. Strong money at 110k imo. These 458 cars look expensive compared to others and seem to be holding there price fairly well given the climate.

[Taffy66]

Cheib said:

Not necessarily. Could be they Collecting Cars cut their commission to get the deal done...that’s what quite often happens with normal auctions when deals get done after the hammer.

Its definitely what happened..It mentions in the T & C that CC have the discretion to cut their commission if it helps the sale go through..It doesn't alter the fact that a very early 458 in an average spec with an incomplete service history and no warranty is trading for not far off year old 600LTs..
It make no sense whatsoever except it shows that enough people think that 458s are a future classic..I'm biased as i own one albeit newer and much higher spec with an unblemished SH..

[Durzel]

ferdi p said:

You can't argue with the way these 458's avoid depreciation like others...

2010, 458, 18k miles, no warranty, 110k

2018, 720s, 5k miles, 2 year warranty, 130k

Truly amazing to be fair...

Would that not tend to say more about the state of McLaren's offerings rather than the 458?

Ferrari regulate their franchised dealers very closely. With the exception of Edinburgh (due to region, I suspect) I've never really seen them deviate greatly on price. You either pay what they're advertising the car for, or you try and get one from a indie dealer or privately - neither of which will be palatable option to most buyers, particularly first time ones.

McLaren on the other hand, from what I've been led to believe you can get pretty big discounts off cars without much effort. This doesn't exactly translate to depreciation-proof motoring.

[av185]

Basically any car that depreciates heavily from new will continue to depreciate heavily and it is rare that such cars level off residually.

The very fact that e.g Mclaren fall off a cliff residually is due to overpricing and massive discounting available when new and oversupply.

The 2 year old low mileage high spec 720s at effectively half new price at c£130k is good value especially compared to a c£110k 458 which is five times older.

But the 720s will continue to depreciate very heavily albeit at a reduced rate whereas the 458 could well stay above £100k.

[ferdi p]

av185 said:

Basically any car that depreciates heavily from new will continue to depreciate heavily and it is rare that such cars level off residually.

The very fact that e.g Mclaren fall off a cliff residually is due to overpricing and massive discounting available when new and oversupply.

The 2 year old low mileage high spec 720s at effectively half new price at c£130k is good value especially compared to a c£110k 458 which is five times older.

But the 720s will continue to depreciate very heavily albeit at a reduced rate whereas the 458 could well stay above £100k.

I have to agree however overpricing would be less of an issue if they'd supplied the correct amount & balanced production with demand.

Oh well, I'll stick with my depreciating 720 over a 10 year old 458 any day! Same with watches really, I've bought Panerai's coz I love them but most depreciate badly.
Whenever I meet a Rolex fan they bang on about how much it's gone up in value, I'm never sure if they actually like the bloody thing

[av185]

Agree F.

I am currently looking for a 720S let me know if you are thinking of selling.

[MitchT]

Durzel said:

I don't think that £125k car is that great to be honest. Standard alloys and standard seats, both not great.

I'm probably in the minority but I prefer the standard alloys. I just wish they done them left- and right-handed like they did with the wheels on the 348.

[jsw777]

jsw777 said:

PrancingHorses said:

Ok cynics here you go lol I understand where you are all coming from being 458 owners. I used to have one too and will be buying another very soon but it's there to be seen - the prices are dropping for now. I sold mine back to a main dealer last summer and if I was to sell this today I would have been £35k worse off on trade in prices today.

Italia's below £135k - anyone with decent negotiating stills could knock circa £5k + off in todays climate

£110k - 19k miles - 2011 car - decent spec!
ttps://www.pistonheads.com/classifieds/used-cars/ferrari/458/ferrari-458-4-5-italia-auto-seq-2dr/10330169

£125k Main dealer car with 2 year warranty - 15k miles - 2010 car
https://www.pistonheads.com/classifieds/used-cars/...

£132k - 8k miles - 2011 car - mega spec in Rossa with Carbon Seats etc
https://www.pistonheads.com/classifieds/used-cars/...

£135k - 22k miles - 2012 car - mega spec in Rossa with Carbon Seats Main dealer with 2 year warranty
https://www.pistonheads.com/classifieds/used-cars/...

Spiders below £145k: (again pretty easy knocking £5k + off one of these)

£137,500 - 16k miles - 2012 - decent spec
https://www.autotrader.co.uk/classified/advert/202...

£137,995 - 21k miles - 2013 - MEGA spec - carbon seats and carbon porn fest
https://www.autotrader.co.uk/classified/advert/201...

£142,000 - 15k miles - 2013 - Rossa Corsa decent spec - Main Dealer - 2 year warranty
https://www.autotrader.co.uk/classified/advert/202...

£144k - 22k miles - 2013 - Black on Black - Carbon Porn Fest
https://www.autotrader.co.uk/classified/advert/202...


None of these cars are undesirable colours, specs or abnormally high mileages - all very good deals IMHO

I rest my case

Edited by PrancingHorses on Friday 22 May 14:11

I’ve looked at the 2010 car as I want a red 458. They’ve offered a good price on my R8 and a reasonable discount on advertised price. Only downsides are 7 owners and the alloys (currently trying to see if they will change them or go further down so I could pick up a used set).

2010 car has apparently sold, I was negotiating with them and supposedly sold yesterday.
Be interesting to know what for as I was offered it at £112k.

[Regy53]

jsw777 said:

2010 car has apparently sold, I was negotiating with them and supposedly sold yesterday.
Be interesting to know what for as I was offered it at £112k.

was you really? thats some discount every blooming car i look at with dealers is dealer pricing and a few hundred gesture. Not had the balls to go in low ball yet.

£135-145k range

The 145k car i really want but for say 139k

[cayman-black]

Regy53 said:

was you really? thats some discount every blooming car i look at with dealers is dealer pricing and a few hundred gesture. Not had the balls to go in low ball yet.

£135-145k range

The 145k car i really want but for say 139k

I would have thought that's a blinding offer, surely they would accept that?

[Regy53]

cayman-black said:

I would have thought that's a blinding offer, surely they would accept that?

I have not offered it. All i did was get told that theres hundreds / gestures in there car not thousands..

I buy and sell for a living and generally try to do a minimum of 10% but I have read these guys push for 20% right or wrong

[Durzel]

Regy53 said:

cayman-black said:

I would have thought that's a blinding offer, surely they would accept that?

I have not offered it. All i did was get told that theres hundreds / gestures in there car not thousands..

I buy and sell for a living and generally try to do a minimum of 10% but I have read these guys push for 20% right or wrong

I'd imagine at the moment you might get £5k off, maybe £6k? Bit of a difference from £14.5k off (10%), though.

[Taffy66]

Ferrari main dealers operate on a big spread, about 20%, which is why they can hold on to cars for a long time without needing to discount..Keeping a car in stock for two years is not unusual..
They are crying out for nice 458s for stock in complete contrast to 488s..I suspect if someone with a nice high spec 458 and wanted to p/x it for a 488 they had in stock then discounts would be discussed..They generally don't discount on 458s as they still sell easily for strong money even if they have to keep them for a while.
Carbon seats and Forged wheels with all the inside carbon sell much easier than others with lower spec..They may discount more on a 458 with the standard seats with cast wheels..The CC 458 which recently sold for £110k was a good price taking into account its seats, age and average spec IMO.

[jsw777]

Regy53 said:

jsw777 said:

2010 car has apparently sold, I was negotiating with them and supposedly sold yesterday.
Be interesting to know what for as I was offered it at £112k.

was you really? thats some discount every blooming car i look at with dealers is dealer pricing and a few hundred gesture. Not had the balls to go in low ball yet.

£135-145k range

The 145k car i really want but for say 139k

I was indeed with a fair value on my R8 but I was trying to get better wheels for a reasonable price from them and someone else bought it at 120 apparently.

I’ve been looking at a fair few and it does seem to vary. I was also offered a car at £135k for £127k but it wasn’t really a car I wanted.

All the cars I’m looking at serious, I’m getting the same of we could do £1k as a gesture, so currently holding out as I’ve offered £5-£6 off and they are saying no.

[Order66]

jsw777 said:

I was indeed with a fair value on my R8 but I was trying to get better wheels for a reasonable price from them and someone else bought it at 120 apparently.

I’ve been looking at a fair few and it does seem to vary. I was also offered a car at £135k for £127k but it wasn’t really a car I wanted.

All the cars I’m looking at serious, I’m getting the same of we could do £1k as a gesture, so currently holding out as I’ve offered £5-£6 off and they are saying no.

So the story hasn't changed - spec is king.