458 prices

[steelej]

z4RRSchris said:

that's exactly what I'm saying, since 2008 we have seen an asset bubble. The prices of tax free assets such as non cars, art, wine, property, etc has increased massively.

we will see 348/355/360/430's back at 2008/2010 prices.

Any idiots who think otherwise should take a look at history

that said I'm thinking of putting 80k into a Gallardo but I'm prepared for it to be worth 50k when the market turns

If 430's go back to 2008 prices they'll cost more than they do today and if they go to 2010 prices it'll be pretty much exactly where they are today, 430 prices have hardly moved since 2009.

John.

[allister]

steelej said:

If 430's go back to 2008 prices they'll cost more than they do today and if they go to 2010 prices it'll be pretty much exactly where they are today, 430 prices have hardly moved since 2009.

John.

Spot on.... To use a quote "Any idiots who think otherwise should take a look at history"

[z4RRSchris]

really? I've only really looked at gallardo prices (as that's what I'm after) but you used to pick up a car that's 75k today for £50k. same car.

[MingtheMerciless]

Durzel said:

If you can afford it (note: afford, not buy) then go for it.

You can always make more money, you can't make more time. The only caveat I'd add is to do your due diligence and enter the market at the right place for you. Don't pay a premium for an ultra low mileage garage queen and use it as your daily, don't buy a late year 458 and expect not to suffer the commensurate depreciation knock year on year (look at the prices of the early year cars to get a feel for this).

The problem with values is that everyone does these arguments to death, and in so doing - I feel - sterilises the whole experience of buying and owning one. They are not, and should not, be evaluated in the context of fine art, or as investments (Speciale/Apertas notwithstanding). The paralysing effects of speculative hand-wringing over depreciation etc only serves to make owning one a debilitating experience.

I bought a 458 earlier in the year, knowing that the 488 was around the corner. I will almost certainly lose money on it. I'll never lose the joy I've experienced driving it.

Edited by Durzel on Monday 9th November 16:00

I did the same thing. I started out looking for a cheap LHD one in European non main dealers. I encountered every crook available in the used car trade, I unearthed the only massively clocked 458 in Europe, I did a deal I think four times, each of which fell apart on the eve of delivery to an F dealer for an inspection. As time went on, I ended up getting more picky about spec so I knew I wanted race seats if possible and Daytona seats if not, for example, if possible, and these tend to be fitted to cars with lots of other options. Having been amazed at the extent of crookery available on the continent, I started looking in the UK at the cheapest RHD ones available and even did a deal with a certain dealer in respect of whom I wish I had used the search button on above first - Motorhub. We agreed to disagree about whether certain conditions I had set for release of deposit and completion of purchase were met and I had to get solicitors involved to get (most of) it back - would never ever ever deal with that bunch again. Moving on, at the point of despair, I was about to phone a main dealer and beg them to take cash at the asking price for me for something when I found (with the assistance of a dealer mate who was looking for me) what was my ideal car. It's a red 2010 car with carbon race seats, red stripe on the seats, lots of carbon on the inside, including driving zone and lcd's, JBL upgrade system (love it! playing 5.1 DVD audio sound when tootling along), reversy cams, nav, iPod and more. I know I could save money and get one cheaper next year but I really wanted one now for a hoon in September and you only live once. I had also sold my F430 Spider for about what I paid for it 5 years ago (I'm based in Ireland, had got a reimbursement of import tax also) and was Ferrariless for a few months for the first time in ten years and, well, you only live once. Am I sorry about taking a possibly financially rash decision? Eh no. Not a bit.

[madras]

z4RRSchris said:

really? I've only really looked at gallardo prices (as that's what I'm after) but you used to pick up a car that's 75k today for £50k. same car.

I can tell you pretty confidently that there has only ever been one F430 on Auto trader for £50k, it was in late 2011 early 2012 and it had over 50k on the clock from memory, was red and even then it wasn't the best buy available in my opinion. It was probably a track experience car. I bought a main dealer car with 15k miles on the clock with warranty for £65k - THAT was the bottom of the market, it was a bargain and even then should have been circa £70k, that was Feb 2012 - I sold my 360 to buy it. Before that F430 prices were higher.

You also need to take account of inflation which you don't seem to in your arguments.