355 price correction

355 price correction

Author
Discussion

V12s

29 posts

67 months

Monday 21st October 2019
quotequote all
Thread resurrection

Where do we think F355 prices are heading now ?


Drclarke

1,119 posts

153 months

Monday 21st October 2019
quotequote all
Yawn!!!!!

If you want one just buy one!!!

Why has the car market for passionate cars been flooded with penny pinchers who would go a year of their lives without something they really want in the hope of saving a few £

GET A LIFE!!

4rephill

4,942 posts

158 months

Monday 21st October 2019
quotequote all
Drclarke said:
Yawn!!!!!

If you want one just buy one!!!

Why has the car market for passionate cars been flooded with penny pinchers who would go a year of their lives without something they really want in the hope of saving a few £

GET A LIFE!!
Because some people have more sense than to spend £90K on a car that two years later they can buy for £70K, and three years later buy for £60K!

Smart people buy their Ferrari's when the market value is low, enjoy them for a few years, and then sell them when the market value is high - To idiots with more money than sense! wink

V12s

29 posts

67 months

Monday 21st October 2019
quotequote all
DrClarke
Your response is somewhat hypocritical. I’ve just read your last post in relation to mk1 superleggera prices. So, yawn to you buddy.


SFTWend

392 posts

55 months

Monday 21st October 2019
quotequote all
V12s said:
Thread resurrection

Where do we think F355 prices are heading now ?
Seems a perfectly reasonable question to me. I think they have some way to go before bottoming out as the market continues to correct itself. Suggest c.10% annual drop for next couple of years. They originally finished depreciating about 10 years ago at c.£35k for a rhd example so maybe c.£50k will be the landing point this time round?

I sold my F355 Spyder many years ago and intend getting back into another Ferrari at some stage. I'm lucky enough to be able to afford to buy and run one but the life I am happy with chooses to let these cars dump £20 or £30k before I buy and spend that money on other luxuries like nice holidays.

Durzel

11,346 posts

148 months

Monday 21st October 2019
quotequote all
Assume they will depreciate like a normal car will, losing a commensurate amount of money as a percentage, and you won't go far wrong.

Money comes and goes, time only goes.

red_slr

14,510 posts

169 months

Monday 21st October 2019
quotequote all
red_slr said:
355 Ave Asking Price PH USED, LHD & RHD, GBP only.
11/07/2016 101127
07/08/2016 101017
04/09/2016 98589
23/09/2016 98255
11/10/2016 96682
01/11/2016 97565
07/12/2016 99140
06/01/2017 99140
16/02/2017 96322
02/03/2017 96165
14/04/2017 96498
29/05/2017 98208
28/06/2017 96185
28/07/2017 91938
27/09/2017 90084
30/11/2017 89919


Prices pretty flat until July. Seen a small monthly drop since.
LHD has done better than RHD but both still slowly falling.
Wont really know whats happening till summer next year IMHO.

I can see the market jumping up again in the medium term.
FWIW I still track this monthly and I forget the exact number but the Sept 19 figure was £89k.

So prices have been pretty much flat for 2 years. Not up, not down.

Full data is in work, will post tomorrow.

HTH.

SFTWend

392 posts

55 months

Monday 21st October 2019
quotequote all
Interesting data. I suspect that what this might hide is that cars advertised over the last 2 years have in many cases not sold because the asking prices are too high.

For sold prices, I think if you looked at auction sales they would show a drop in values over the last 2 years.

red_slr

14,510 posts

169 months

Monday 21st October 2019
quotequote all
Cars are selling, I just don't have access to the sold prices. Action prices wont help because honestly they just don't come up for sale that often at auction and when they do they might not make reserve - so your sample size is going to be tiny.

At the last major Ferrari auction I think there were 6 cars on the block. Only 2 sold, one for £72k (Fly, Manual, Spider, 25k miles) and another for £95k (Black, Manual, Netta, 16k miles).

The black car was actually the 7th highest priced F car to actually sell at the auction, plenty of other much more desirable stuff was simply not selling.

Take from that what you will.


V12s

29 posts

67 months

Tuesday 22nd October 2019
quotequote all
red_slr said:
red_slr said:
355 Ave Asking Price PH USED, LHD & RHD, GBP only.
11/07/2016 101127
07/08/2016 101017
04/09/2016 98589
23/09/2016 98255
11/10/2016 96682
01/11/2016 97565
07/12/2016 99140
06/01/2017 99140
16/02/2017 96322
02/03/2017 96165
14/04/2017 96498
29/05/2017 98208
28/06/2017 96185
28/07/2017 91938
27/09/2017 90084
30/11/2017 89919


Prices pretty flat until July. Seen a small monthly drop since.
LHD has done better than RHD but both still slowly falling.
Wont really know whats happening till summer next year IMHO.

I can see the market jumping up again in the medium term.
FWIW I still track this monthly and I forget the exact number but the Sept 19 figure was £89k.

So prices have been pretty much flat for 2 years. Not up, not down.

Full data is in work, will post tomorrow.

HTH.
That would very interesting, Thanks red_slr

Drclarke

1,119 posts

153 months

Tuesday 22nd October 2019
quotequote all
4rephill said:
Because some people have more sense than to spend £90K on a car that two years later they can buy for £70K, and three years later buy for £60K!

Smart people buy their Ferrari's when the market value is low, enjoy them for a few years, and then sell them when the market value is high - To idiots with more money than sense! wink
This is just ifs ands maybes. Who is that sad, that they will wait two years for something they really want because they might save some money.

Drclarke

1,119 posts

153 months

Tuesday 22nd October 2019
quotequote all
V12s said:
DrClarke
Your response is somewhat hypocritical. I’ve just read your last post in relation to mk1 superleggera prices. So, yawn to you buddy.
Nice stalking, but that was a tongue in cheek post to all the saddos who bleat on about prices

Drclarke

1,119 posts

153 months

Tuesday 22nd October 2019
quotequote all
Also, what are all these price watchers going to do if the prices rise, which is just as likely as price drops.

The rest of us can guess you will all then bleat on about how will wait for them to drop again or how you wish you had bought one in the minor blip of 2019

Drl22

625 posts

45 months

Tuesday 22nd October 2019
quotequote all
Personally I get the price watchers game but don’t subscribe to it. Boom and bust is a difficult cycle to predict and frankly I don’t think we are heading for a bust yet. Uncertainty in the market is being driven by brexit, once that’s out the way businesses will know the new terms they have to deal on and certainty (or what certainty there ever really is) will return. Now is the time to buy a car, dealers are nervous and dropping prices and there are bargains to be had now. Especially on cars you want to keep and drive!

red_slr

14,510 posts

169 months

Tuesday 22nd October 2019
quotequote all
I don't consider myself a price watcher, I just do it for a bit of fun.

I bought mine at the very peak of the market and my car was one of the cheaper Rosso Corsa cars in the UK at the time. I still managed to negotiate on the price and it just helps me when the wife asks why I just spent £nnnn on the car I can say ahh but its still worth what I paid for it, here look at this graph smile

Durzel

11,346 posts

148 months

Tuesday 22nd October 2019
quotequote all
If anyone could predict with certainty the trajectory of prices then they ought to be buying up (or selling) all of the stock they can.

No one can predict with certainty the way the market is going to go. The spectre of Brexit, global warming, oil prices, many other things have been threatening to burst the bubble for years, and it hasn't happened. You could probably find threads on here going back years where people were heralding the demise of supercar prices. Taking anyone's comments at face value (including my own) is silly because you don't know their motivation. Buyers looking to enter the market have a vested interest in talking down the market. Owners have the opposite desire.

All you can do is make peace with how much you are willing to "lose". I put lose in quotes because who really loses when they're driving around in a supercar. Even that has a value to it.

No one needs a supercar, so buying one whilst preoccupied of how much its going to cost per mile to run, or how much it will be worth in X months time, is the surest way to have an soulless ownership experience. I can't think of anything worse than owning something like that, and looking at it thinking "I can't drive it too far otherwise it'll cost me too much", or even "what if XYZ goes wrong, I won't be able to afford to fix it". These things are supposed to be enjoyed unencumbered.

Of course no one wants to lose money, and there are certainly "bad" times to buy a supercar, and "bad" ways to buy one. Buying from a main dealer will see you lose their spread plus VAT the moment you drive away (but you do have a warranty - which is peace of mind and has value). Buying private sees you getting into the car for less, but at greater risk. Buying a limited edition car at the height of its speculation thinking its going to keep going up is a gamble one can only make if the losses can be weathered. Sinking everything you have into a Speciale thinking "this can only go up" is - again - a recipe for sleepness nights and a horrible position to be in.

If you want to make money, buy property. Buy a supercar (or don't) because it makes your heart pound. Any profit you make is a bonus you should never budget for.

Drl22

625 posts

45 months

Tuesday 22nd October 2019
quotequote all
Durzel said:
If anyone could predict with certainty the trajectory of prices then they ought to be buying up (or selling) all of the stock they can.

No one can predict with certainty the way the market is going to go. The spectre of Brexit, global warming, oil prices, many other things have been threatening to burst the bubble for years, and it hasn't happened. You could probably find threads on here going back years where people were heralding the demise of supercar prices. Taking anyone's comments at face value (including my own) is silly because you don't know their motivation. Buyers looking to enter the market have a vested interest in talking down the market. Owners have the opposite desire.

All you can do is make peace with how much you are willing to "lose". I put lose in quotes because who really loses when they're driving around in a supercar. Even that has a value to it.

No one needs a supercar, so buying one whilst preoccupied of how much its going to cost per mile to run, or how much it will be worth in X months time, is the surest way to have an soulless ownership experience. I can't think of anything worse than owning something like that, and looking at it thinking "I can't drive it too far otherwise it'll cost me too much", or even "what if XYZ goes wrong, I won't be able to afford to fix it". These things are supposed to be enjoyed unencumbered.

Of course no one wants to lose money, and there are certainly "bad" times to buy a supercar, and "bad" ways to buy one. Buying from a main dealer will see you lose their spread plus VAT the moment you drive away (but you do have a warranty - which is peace of mind and has value). Buying private sees you getting into the car for less, but at greater risk. Buying a limited edition car at the height of its speculation thinking its going to keep going up is a gamble one can only make if the losses can be weathered. Sinking everything you have into a Speciale thinking "this can only go up" is - again - a recipe for sleepness nights and a horrible position to be in.

If you want to make money, buy property. Buy a supercar (or don't) because it makes your heart pound. Any profit you make is a bonus you should never budget for.
+1

The amount of times this is said astounds me but it never seems to be fully understood. I guess it is those who are trying to squeeze into a supercar because they love them but in my mind I’d never fully enjoy the experience if that was the case for all the reasons you have highlighted. I am very lucky to be in a position to accept I’m likely going to lose money and not lose sleep over that. I’m paying for an experience I’ll never forget.

Jex

748 posts

108 months

Tuesday 22nd October 2019
quotequote all
red_slr said:
I don't consider myself a price watcher, I just do it for a bit of fun.

I bought mine at the very peak of the market and my car was one of the cheaper Rosso Corsa cars in the UK at the time. I still managed to negotiate on the price and it just helps me when the wife asks why I just spent £nnnn on the car I can say ahh but its still worth what I paid for it, here look at this graph smile
Sadly mine is worth about £10 to 20k less than I paid for it, but I have put quite a few miles on it.

Durzel

11,346 posts

148 months

Tuesday 22nd October 2019
quotequote all
And I bet you're up on smiles per mile. smile

67Dino

3,161 posts

85 months

Tuesday 22nd October 2019
quotequote all
red_slr said:
red_slr said:
355 Ave Asking Price PH USED, LHD & RHD, GBP only.
11/07/2016 101127
07/08/2016 101017
04/09/2016 98589
23/09/2016 98255
11/10/2016 96682
01/11/2016 97565
07/12/2016 99140
06/01/2017 99140
16/02/2017 96322
02/03/2017 96165
14/04/2017 96498
29/05/2017 98208
28/06/2017 96185
28/07/2017 91938
27/09/2017 90084
30/11/2017 89919


Prices pretty flat until July. Seen a small monthly drop since.
LHD has done better than RHD but both still slowly falling.
Wont really know whats happening till summer next year IMHO.

I can see the market jumping up again in the medium term.
FWIW I still track this monthly and I forget the exact number but the Sept 19 figure was £89k.

So prices have been pretty much flat for 2 years. Not up, not down.

Full data is in work, will post tomorrow.

HTH.
Wonder if ‘average price’ exaggerates the highs and lows? Seems to me that at peak there were plenty of low mileage RHD manual GTSs up for sale (albeit at top whack), but as prices have dropped there are more of the cheaper LHDs, F1s and Spyders, or leggy GTSs. If you’ve got the data, red_slr, then the ideal comparison would be a like for like.