Are 355's selling?

[baypond]

i really like the 348, and looks are ageing well. Better than a testarosa in my opinion. The only part I am not keen on, is the black grill over the back lights.

[red_slr]

baypond said:

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.

true but this bubble has gently deflated not popped.

Correct, as of Jan the ave asking price for RHD is 106k, it was as high as 119k in the middle of last year.
That said there are not as many cars for sale 40 vs 53 and its winter... we will see!

[Behemoth]

red_slr said:

I track sales every month

red_slr said:

Correct, as of Jan the ave asking price for RHD is 106k, it was as high as 119k in the middle of last year.
That said there are not as many cars for sale 40 vs 53 and its winter... we will see!

Sales or advertised prices? What form of average do you calculate with? Mean or median?

[red_slr]

red_slr said:

...Jan the ave asking price ...

I use mean, the median figure as of Jan was £105k. FWIW

[Behemoth]

red_slr said:

I use mean, the median figure as of Jan was £105k. FWIW

It can be worth a lot when there are extremes in the dataset; eg low mile museum pieces or cat d rust buckets. I would recommend using the median.

[RamboLambo]

Mines not to be sold at any price. Always said I would be buried in it as my first Ferrari and supercar

Rosso Corsa and crema Manual GTS with 38,000 miles FFSH, challenge rear grill and capristo = PRICELESS.

Bought for £49k in 2005 and probably worth close to 3 times that now

[Jex]

RamboLambo said:

Mines not to be sold at any price. Always said I would be buried in it as my first Ferrari and supercar

Rosso Corsa and crema Manual GTS with 38,000 miles FFSH, challenge rear grill and capristo = PRICELESS.

Bought for £49k in 2005 and probably worth close to 3 times that now

I have rosso corsa, crema, manual GTS with 43,000 miles, FFSH, Challenge rear grille and Capristo. I would say it is worth about twice what you paid. Prices for 328/348/355 all went up a lot in 2015, but did nothing or dropped a bit in 2016. Too early in 2017 I would say - need to wait at least until the clocks go forward if you are selling; if you are buying, who knows?

[DarrenKMC]

Jex said:

RamboLambo said:

Mines not to be sold at any price. Always said I would be buried in it as my first Ferrari and supercar

Rosso Corsa and crema Manual GTS with 38,000 miles FFSH, challenge rear grill and capristo = PRICELESS.

Bought for £49k in 2005 and probably worth close to 3 times that now

I have rosso corsa, crema, manual GTS with 43,000 miles, FFSH, Challenge rear grille and Capristo. I would say it is worth about twice what you paid. Prices for 328/348/355 all went up a lot in 2015, but did nothing or dropped a bit in 2016. Too early in 2017 I would say - need to wait at least until the clocks go forward if you are selling; if you are buying, who knows?

Exactly this Jex, even 18months ago at their peak a circa 40k mile 355 wasn't anywhere near £140-150k however nice!
In my opinion they were undervalued for a long time before the jump however so while I don't think they'll be continuing that steep curve they will remain level rather than fall back much, but as you say once the 2017 market 'opens' who knows!

[Foundy]

I can add from personal experience when I punted my 348 around the trade 2015/early 2016 I was being offered £45k. It needed a belt service and some cosmetic attention (about £5k to sort). When I sold it this september i got £40k (still needing the work) in the trade so approx 10% drop.

[jenzo]

A friend bought a lovely LHD, 99, S plate 355 Berlinetta, Rosso Corsa/Black/Manual, rear challenge grille, with 46K miles for under 70k this weekend. Its a keeper. Some silly prices out there and cars sticking, but at the right price - I guess they are selling and exchanging hands?

Edited by jenzo on Wednesday 11th January 09:36

[red_slr]

Here is my RHD data.

[Jex]

red_slr said:

Here is my RHD data.

Impossible to predict which way that will go!

[rubystone]

jenzo said:

Bought a lovely LHD, 99, S plate 355 Berlinetta, Rosso Corsa/Black/Manual, with 46K miles for under 70k this weekend. Its a keeper. Some silly prices out there and cars sticking, but at the right price - I guess they are selling and exchanging hands?

That's an expensive car to me. But maybe I'm simply out of touch? Lhd, GTS, knocking on the door of 50,000 miles. But if you're going to keep it and not expect to sell at profit or break even, then you won't care about that, will you?

[Behemoth]

rubystone said:

Lhd, GTS, knocking on the door of 50,000 miles. But if you're going to keep it and not expect to sell at profit or break even

Give it another 10 or 15 years and I'm sure you'll be very surprised

[red_slr]

rubystone said:

That's an expensive car to me. But maybe I'm simply out of touch? Lhd, GTS, knocking on the door of 50,000 miles. But if you're going to keep it and not expect to sell at profit or break even, then you won't care about that, will you?

Average asking price for LHD is currently £76k. Median is £79.8k if you take our friends suggestion above!

[baypond]

fesuvious said:

I spoke to a Ferrari main dealer last October about them having my 355 on SOR.

The deal they offered wasn't great. Openly said 'end of season, not the time'.

I was ok with that. Said 'no worries maybe we'll talk in the Spring.'

They rang me today to ask if I'd still got it, they want to talk and have a look at the deal again.

Very surprised, its mid-Jan.

Does this mean buyers are out there?

I spoke to a Ferrari specialist yesterday and was a bit surprised to hear that the phones have started ringing again and cars have started to sell again.
Economic numbers coming through for consumption and house prices have been strong, so maybe we are going to see deals being done, albeit at levels below there peaks.

[rubystone]

red_slr said:

Average asking price for LHD is currently £76k. Median is £79.8k if you take our friends suggestion above!

Does anyone monitor numbers of cars sold? All very well reviewing asking prices, but if cars stick around at a price for months on end are they not over-priced?

Red SLR - do you monitor the age of cars unsold? That would be the real indicator of the health of the market.

[red_slr]

Not accurately sorry.

[abidr500]

The market is clearly strong
There just aren't that many cars for sale,
particularly high spec ones

[Behemoth]

red_slr said:

Average asking price for LHD is currently £76k. Median is £79.8k if you take our friends suggestion above!

Median is an average, too. It's just a different type of average. Mean is the default output from spreadsheets etc. Median is far better when analysing these data types, as the distorting effect of ocassional extremes is mitigated. Mean is great when you can rely on a normal distribution of values.