Ferrari 360 ( Meridian Modena)
Discussion
Just to add a few comments and thoughts. Personally, I think it is a nice spec. The manual, although more sought after, commands c5k premium in today’s market and from a production perspective represents slightly less than 30% ie slightly more than 70% were F1. I also agree with the comments re mileage - this is not high, and these cars are definitely better driven.
I have owned an F1 coupe for the last 6 years - red, cream racing seats etc and full spec - I was offered just over 60k trade last summer but decided to keep it. It has 21k on the clock. You have to appreciate these cars were launched 20 years ago and mechanical and servicing history is far more important than mileage.
I have owned an F1 coupe for the last 6 years - red, cream racing seats etc and full spec - I was offered just over 60k trade last summer but decided to keep it. It has 21k on the clock. You have to appreciate these cars were launched 20 years ago and mechanical and servicing history is far more important than mileage.
Roof down said:
Say what you will folks, but nothing is moving, cars remain unsold, but it’s still 10K over priced.
Given the colour, spec and mileage - I think you're being generous. I'll stick my neck out and say that given current market conditions, I think it's 15k over with trade bids in the 40's. Again, I'd sit and wait. Recent auction results for a 2003 360F1 in resale red over nero - £43460. Black, RHD 360F1 37k miles £48160.
Edited by Candellara on Tuesday 16th April 17:59
Edited by Candellara on Tuesday 16th April 18:04
jtremlett said:
don't agree. You would never buy anything and never have to opportunity to enjoy it if you spent your life waiting for the market to get to where you want it. Enjoy life today you might be dead tomorrow.
Exactly.If the thinking is that it's £10k over priced then don't buy it, save that £10k, and don't have a Ferrari. If you think it's worth less than the asking price then go to see it, make a judgement and put forward an offer.
Personally, I imagine there will be a deal to be done, I think TDF is a great colour for the 360 Modena but I'm a bit less keen on that interior. The car has done about 2k miles/year on average. If that's considered high then I'd love to know what's considered average or even low. I've never driven an F1 gearbox car and always wanted a manual one so it wouldn't be the car for me if I was shopping.
Candellara said:
Given the colour, spec and mileage - I think you're being generous. I'll stick my neck out and say that given current market conditions, I think it's 15k over with trade bids in the 40's. Again, I'd sit and wait.
Recent auction results for a 2003 360F1 in resale red over nero - £43460. Black, RHD 360F1 37k miles £48160.
I think this maybe just highlights the margin levels dealers want, but whilst those cars at auction appear a bargain, they are a fairly big risk to take, it’s a gamble. No comebacks and no test drives on auction cars, could be a pile of hidden faults, for me auctions are trade cars, as they are generally not up to retail standard unless you get lucky.Recent auction results for a 2003 360F1 in resale red over nero - £43460. Black, RHD 360F1 37k miles £48160.
Edited by Candellara on Tuesday 16th April 17:59
Edited by Candellara on Tuesday 16th April 18:04
I don’t honestly think £60k is that bad, not in the times of £40k golfs and £70k volvos SUV’s, a lot of car for £60k from my perspective, appreciate market values have changed but compared to what £60k buys in the world of air cooled 911’s these still look good, maybe I’m delusional!
I say £60k as the link and autotrader shows this car at £64995 but when I enquired 2 weeks ago it was on their website at £59999.... so maybe they sorted the paint out? Or being cheeky playing those dealer games of price messing. Either way they ain’t ever gonna sell it for £50k are they?
Edited by andyman_2006 on Wednesday 17th April 00:08
Just to add to the discussion, the 360 at £60,995 is mine and I think it’s fairly priced with the history and additional work done.
I’ve checked with a few dealers and it’s priced correctly for a private sale, trade would be 5-7k less.
I would say concentrate on condition and history, rather than manual or red at the lower end of the market. I service mine at a main dealer and they pick out every tiny little thing which I always get done, as I’m a bit ocd. You will always lose less on depreciation on a older Ferrari than say my m3cp which will have done £10k in 6 months, but running costs are £2k per year to keep on top of things.
No regrets at buying mine and only looking to change for a Lambo. Life’s to short to be worrying about if your buying at the bottom of the market.
I’ve checked with a few dealers and it’s priced correctly for a private sale, trade would be 5-7k less.
I would say concentrate on condition and history, rather than manual or red at the lower end of the market. I service mine at a main dealer and they pick out every tiny little thing which I always get done, as I’m a bit ocd. You will always lose less on depreciation on a older Ferrari than say my m3cp which will have done £10k in 6 months, but running costs are £2k per year to keep on top of things.
No regrets at buying mine and only looking to change for a Lambo. Life’s to short to be worrying about if your buying at the bottom of the market.
To put some perspective on it. Yes, we're in a falling market and my opinion is that it's still falling and you're likely to see trade prices on 360's start with a three - just as they were a few years ago pre boom. The latest auction figures are already showing this further drop from 2018 to 2019
But as Renmure says - if you don't buy, you won't own a Ferrari. It really depends on your appetite for loss. No one wants to catch a falling knife but you'd equally lose that kind of money on a daily if you purchased one for £60k
This drop / correction (call it what you will) isn't confined to the Ferrari market as the Porsche market is also in a state of disarray. 993's, GT3's etc are sitting in showrooms on SOR with nothing much moving. The newer Porsche market isn't affected as much as they're on their normal new car depreciation curve - as many use these as daily drivers. It's the Supercar and Modern Classic market that is deflating.
But as Renmure says - if you don't buy, you won't own a Ferrari. It really depends on your appetite for loss. No one wants to catch a falling knife but you'd equally lose that kind of money on a daily if you purchased one for £60k
This drop / correction (call it what you will) isn't confined to the Ferrari market as the Porsche market is also in a state of disarray. 993's, GT3's etc are sitting in showrooms on SOR with nothing much moving. The newer Porsche market isn't affected as much as they're on their normal new car depreciation curve - as many use these as daily drivers. It's the Supercar and Modern Classic market that is deflating.
Edited by Candellara on Wednesday 17th April 06:32
If you want a blue one I'd go manual and look at this one. I personally think this is a nicer spec. https://www.pistonheads.com/classifieds/used-cars/...
AndyTR said:
If you want a blue one I'd go manual and look at this one. I personally think this is a nicer spec. https://www.pistonheads.com/classifieds/used-cars/...
Plus 1AndyTR said:
If you want a blue one I'd go manual and look at this one. I personally think this is a nicer spec. https://www.pistonheads.com/classifieds/used-cars/...
Plus 1
AndyTR said:
If you want a blue one I'd go manual and look at this one. I personally think this is a nicer spec. https://www.pistonheads.com/classifieds/used-cars/...
That does look nice, any idea if it at a reputable dealer ?Gassing Station | Ferrari V8 | Top of Page | What's New | My Stuff