F430 has the 'bubble' burst?

F430 has the 'bubble' burst?

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Discussion

240Cup

Original Poster:

242 posts

142 months

Thursday 15th August 2019
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So my last one I bought and sold in the £60Ks (manual) and ever since I have been glumly looking at the values heading ever Northwards but in the last 6 months there seems to have been a significant reversal. What is going on? I suppose some of these cars are now 15 or 16 years old and out of warranty but all the talk was of them being the next big ££££ Ferrari classic and pretty much a sure fire investment.

Is it the right time to get back in, or is there some way still to go in the correction?

Drclarke

930 posts

125 months

Thursday 15th August 2019
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Oh for gods sake, buy one because you want one. Not because it’s not going to lose much more money.

thecook101

706 posts

67 months

Thursday 15th August 2019
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They are as fantastic as ever. Loud, nimble, quick, raw. Lovely.

ZeroH

2,846 posts

141 months

Thursday 15th August 2019
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If you haven't noticed the entire supercar market is undergoing a correction... hardly just a 430 issue !!

Its a buyers market for any porsche ferrari lambo or mclaren you care to name... if you are serious and in the market, you'll already know that and act accordingly.

cgt2

1,451 posts

140 months

Thursday 15th August 2019
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Way too many made to be collectible. I had a manual in 2015, nice car but not a patch on a 550 IMO.

Edited by cgt2 on Thursday 15th August 22:56

Candellara

1,147 posts

134 months

Friday 16th August 2019
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ZeroH said:
If you haven't noticed the entire supercar market is undergoing a correction... hardly just a 430 issue !!

Its a buyers market for any porsche ferrari lambo or mclaren you care to name... if you are serious and in the market, you'll already know that and act accordingly.
No one wants to catch a falling knife. Long way to go yet until they bottom out.

dereksharpuk

67 posts

120 months

Friday 16th August 2019
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I have been keeping an eye on F430 Spiders over the last year and prices appear to be stable, apart from a few silly asking prices... one was £185K.... another private sale was for £125K. But anything that is mint, sub 15,000 miles with FFSH will always command a premium. Stick around for 5 years and get ready to be surprised. BTW, I sold a rather nice MGTC for £15 in 1967... should have put it in a barn.

Zarco

12,999 posts

161 months

Friday 16th August 2019
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Can't believe the F430 has been around since 2005!

I feel old now.

ZeroH

2,846 posts

141 months

Friday 16th August 2019
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Candellara said:
No one wants to catch a falling knife. Long way to go yet until they bottom out.
With that perspective (which i don't subscribe to) the OP won't buy anything, 430 or otherwise, as the entire sector is in the same boat !

av185

10,431 posts

79 months

Friday 16th August 2019
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ZeroH said:
Its a buyers market for any porsche ferrari you care to name... .
Depending on the Porsche or Ferrari.

ZeroH

2,846 posts

141 months

Saturday 17th August 2019
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av185 said:
Depending on the Porsche or Ferrari.
Interested to hear what you had in mind as exceptions?

GT car prices are miles off their highs and still softening, same for special donkeys (scud/spec/pista etc) let alone the regular ones... maybe less so for the older super specials (cgt/laf/40/50 etc) which operate in their own little world

av185

10,431 posts

79 months

Saturday 17th August 2019
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ZeroH said:
av185 said:
Depending on the Porsche or Ferrari.
Interested to hear what you had in mind as exceptions?

GT car prices are miles off their highs and still softening, same for special donkeys (scud/spec/pista etc) let alone the regular ones... maybe less so for the older super specials (cgt/laf/40/50 etc) which operate in their own little world
Very few cars actually sold at the £ highs.

The right Pista, GT2 RS and GT3 RS at c 50% premiums, 991.2 GT3 and Speciale at c 25% premiums and even late 458s still making very strong money.

As ever, spec is key and the right spec cars always sell at top money.


dereksharpuk

67 posts

120 months

Saturday 17th August 2019
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All true, but most dealers now seem to offer bottom book for the p/ex and at the same time want top book for what they are selling. I suppose that is due to very high overheads and not much stock moving. So they need to make much more on any individual deal. Trouble is, that means more punters are put off. I have been offered as low at £65K for my immaculate, low mileage, FFSH 430 Spider, yet the same dealer was selling a 430 Spider, far worse than mine for almost £100K. Mine would have gone up at £105K (so he said). That means a mark up of £40K. Not bad for a transaction (assuming of course the dealer sold my car for that). Net result, no deal.

dereksharpuk

67 posts

120 months

Saturday 17th August 2019
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Some years ago, older Ferraris (which I suppose now include 430s & 360s) were disappearing to foreign RHD markets like Hong Kong, Singapore and Oz. Reason being that the tax there for new Supercars was sky high and anything over 10 years was tax exempt. Is that still happening? If so, will the price of 430 increase as the numbers in the UK get smaller?

cgt2

1,451 posts

140 months

Saturday 17th August 2019
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dereksharpuk said:
All true, but most dealers now seem to offer bottom book for the p/ex and at the same time want top book for what they are selling. I suppose that is due to very high overheads and not much stock moving. So they need to make much more on any individual deal. Trouble is, that means more punters are put off. I have been offered as low at £65K for my immaculate, low mileage, FFSH 430 Spider, yet the same dealer was selling a 430 Spider, far worse than mine for almost £100K. Mine would have gone up at £105K (so he said). That means a mark up of £40K. Not bad for a transaction (assuming of course the dealer sold my car for that). Net result, no deal.
Assuming they own their stock that is though.

The vast majority of cars advertised are on SOR. If dealers had their own money tied up and had an urgent need to move stock quickly the market would appear very different.

pomp1

174 posts

152 months

Saturday 17th August 2019
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The market is very slow at the moment and I agree with the dealer bids comment above. The margins dealers are now wanting are huge as so little is moving so they are literally bidding in the balls as you only shift if you’re desperate to sell or really want to move into something else...

The values have dipped slightly (they would have as I bought my F430 back last year) but if they fall they’ll come back. Peaks and troughs.

Just my 2p worth. Could be worse, you could own a McLaren 540/570 which really are dropping like a stone

Ferruccio

1,006 posts

71 months

Saturday 17th August 2019
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So many dealers for different brands have built these huge but, in my view, totally unnecessary mausoleums.
Why do I need to pay for a chrome and glass cathedral, with two “receptionists” and electric car lifts up to the second floor, to buy a car or drop it off for a service. And then the whole palaver that follows for either.
Keep it simple.
Keep the costs down.

bad company

11,587 posts

218 months

Saturday 17th August 2019
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Candellara said:
No one wants to catch a falling knife. Long way to go yet until they bottom out.
You’d have to be bloody clever to know where the bottom of the market is. There’s not a man ringing a bell.

cgt2

1,451 posts

140 months

Saturday 17th August 2019
quotequote all
Ferruccio said:
So many dealers for different brands have built these huge but, in my view, totally unnecessary mausoleums.
Why do I need to pay for a chrome and glass cathedral, with two “receptionists” and electric car lifts up to the second floor, to buy a car or drop it off for a service. And then the whole palaver that follows for either.
Keep it simple.
Keep the costs down.
If they are nowhere near covering their operating costs at the moment and are being heavily subsidised by the parent groups, the question is how long is that business model sustainable?

pomp1

174 posts

152 months

Sunday 18th August 2019
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cgt2 said:
Ferruccio said:
So many dealers for different brands have built these huge but, in my view, totally unnecessary mausoleums.
Why do I need to pay for a chrome and glass cathedral, with two “receptionists” and electric car lifts up to the second floor, to buy a car or drop it off for a service. And then the whole palaver that follows for either.
Keep it simple.
Keep the costs down.
If they are nowhere near covering their operating costs at the moment and are being heavily subsidised by the parent groups, the question is how long is that business model sustainable?
Ah yes the Amazing mausoleum of a dealership.... hence the new garage in Hull! Staffed by pillocks from MB Hull who are about to be experts in Porsche. And yes, I’m talking about the idiot who one month ago was flogging a C180 to who is about to try to sell 992s...

Avoid the main dealers at all costs, why doesn’t the market recognise that a main stealer stamp means nothing?!