458 v 488 market

458 v 488 market

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Discussion

f1z

Original Poster:

42 posts

17 months

Wednesday 15th March 2023
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A lot of main ferrari dealers have had some used stock for 4-6 months without shifting so I cant see yet how things will change in the coming months especially with people who already locked in cars in the past year at significantly lower rates not wanting to trade to something else that costs them more. With the 458 being a collectible car for that NA V8 i do see a few good spec ones changing hands, but i think the 488 is really struggling to move hence why i see some downwards pressure at the dealers because some people will choose the newer car and slightly better interior/usability over the older gen.

Asking between 150-160k for low spec 458 coupes in that mid 15k mile range when the 488 is less seems to be a bit confusing now at the pre owned certified dealers. I don't expect prices to drop significantly, just that higher mileage cars 25k+ would drop to that 115-120 range ask

Edited by f1z on Wednesday 15th March 10:03


Edited by f1z on Wednesday 15th March 10:04

Saweep

6,616 posts

189 months

Thursday 16th March 2023
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Ferrari Brum have dropped a 458 spider by 8k today.

f1z

Original Poster:

42 posts

17 months

Thursday 16th March 2023
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Saweep said:
Ferrari Brum have dropped a 458 spider by 8k today.
Could you post a link of that car?

Thanks

Saweep

6,616 posts

189 months

Friday 17th March 2023
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davek_964

9,013 posts

178 months

Friday 17th March 2023
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The wear on the "R" button is a little odd. Did it spend most of it's life going backwards?

Saweep

6,616 posts

189 months

Friday 17th March 2023
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davek_964 said:
The wear on the "R" button is a little odd. Did it spend most of it's life going backwards?
I think it's just the only one of the three that ever really gets used by most people.


willy wombat

940 posts

151 months

Friday 17th March 2023
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Disagree. As the car’s default starting condition is “automatic”, I press the auto button (to put the car in manual) every time I start it.

Gibbo205

3,572 posts

210 months

Friday 17th March 2023
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davek_964 said:
The wear on the "R" button is a little odd. Did it spend most of it's life going backwards?
Very odd! My car is over 26,000 miles and has no wear to any of the buttons, that screams I have been clocked !

Also a dealer asking top money, yet the car is been advertised like that, would not be hard or expensive to change that button or all three so they match.

Saweep

6,616 posts

189 months

Friday 17th March 2023
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willy wombat said:
Disagree. As the car’s default starting condition is “automatic”, I press the auto button (to put the car in manual) every time I start it.
I don't think I ever did that once in mine!

Saweep

6,616 posts

189 months

Friday 17th March 2023
quotequote all
Gibbo205 said:
Very odd! My car is over 26,000 miles and has no wear to any of the buttons, that screams I have been clocked !

Also a dealer asking top money, yet the car is been advertised like that, would not be hard or expensive to change that button or all three so they match.
A dealer that may or not be this one, once sold me a car with string instead of metal clips inside the engine bay...which they then tried to charge me to replace 1000 miles later when it went in for some warranty work smile

f1z

Original Poster:

42 posts

17 months

Friday 17th March 2023
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Very nice TDF blue came on yesterday. Price is high but this would of been perfect as a spider variant. The search continues though

https://www.autotrader.co.uk/car-details/202303165...

supersport

4,142 posts

230 months

Friday 17th March 2023
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f1z said:
Very nice TDF blue came on yesterday. Price is high but this would of been perfect as a spider variant. The search continues though

https://www.autotrader.co.uk/car-details/202303165...
No Cruise or folding mirrors (looks like). Folding mirrors are really useful, seems quite expensive, but a great colour.

GCCP

968 posts

235 months

Friday 17th March 2023
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Saweep said:
I don't think I ever did that once in mine!
that is because as soon as you pull on one of the paddles it exits auto mode. Funny enough, my 458 R button has started to go a bit sticky and funny and that button literally has not been pressed more than 10 times in the past 1 or 2 years (i know, shame on me!)


alscar

4,593 posts

216 months

Friday 17th March 2023
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supersport said:
No Cruise or folding mirrors (looks like). Folding mirrors are really useful, seems quite expensive, but a great colour.
What’s the switch to the right of the lights ?
Carbon engine bay presumably adds a fair amount of £ ?

MisterBigglesworth

454 posts

51 months

Friday 17th March 2023
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If it's in your budget and you don't mind a non red car I would go and look at my old spider at Dick Lovett.

It was originally listed at 169k last summer and now on at 156k and change, which factoring in the 2 year warranty prep and service puts them pretty much at break even for it.

One of the best specced spiders in the country as it was a tailor made car with grigio ferro historical triple layer paint and a canne di fucile roof plus a painted stripe. Has the full carbon seats with half alcantara, full alcantara upper zone and roof, full carbon driving zone snd dash inserts, carbon centre dash bits, JBL upgraded stereo, HELE, giallo counter and calipers, diamond wheels, front carbon splitters, rear carbon panel, carbon b pillar trim. Was owned by a collector before me and he got it from JCT 600.

I put a new battery in it when I serviced it at Joe Macari and the car ran without fault.

I'd buy it back at that price, really regret selling it as its such a bespoke spec, but barely driven my F12 yet and want at least a season with it before adding another.

http://www.autotrader.co.uk/car-details/2022080283...

The other car they took in at the same time has also been reduced by the same amount.



Edited by MisterBigglesworth on Friday 17th March 16:57

MisterBigglesworth

454 posts

51 months

Friday 17th March 2023
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God I miss this car.. must resist temptations.




f1z

Original Poster:

42 posts

17 months

Friday 17th March 2023
quotequote all
MisterBigglesworth said:
If it's in your budget and you don't mind a non red car I would go and look at my old spider at Dick Lovett.

It was originally listed at 169k last summer and now on at 156k and change, which factoring in the 2 year warranty prep and service puts them pretty much at break even for it.

One of the best specced spiders in the country as it was a tailor made car with grigio ferro historical triple layer paint and a canne di fucile roof plus a painted stripe. Has the full carbon seats with half alcantara, full alcantara upper zone and roof, full carbon driving zone snd dash inserts, carbon centre dash bits, JBL upgraded stereo, HELE, giallo counter and calipers, diamond wheels, front carbon splitters, rear carbon panel, carbon b pillar trim. Was owned by a collector before me and he got it from JCT 600.

I put a new battery in it when I serviced it at Joe Macari and the car ran without fault.

I'd buy it back at that price, really regret selling it as its such a bespoke spec, but barely driven my F12 yet and want at least a season with it before adding another.

http://www.autotrader.co.uk/car-details/2022080283...

The other car they took in at the same time has also been reduced by the same amount.



Edited by MisterBigglesworth on Friday 17th March 16:57
Its a nice spec for sure Biggle but the most id spend for a spider is probably in the 140's range. I suspect even with the anticipation of spring/summer its proving to be a bit difficult to move the higher mileage 458/488 cars at Ferrari dealers. I may wait it out to see how things look in a few months as the economy has been crazy the past week.

MisterBigglesworth

454 posts

51 months

Friday 17th March 2023
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I dont blame you- not seen this much stock at dealers since well before the pandemic.

Between the crypto winter, tech layoffs, banking collapses and tax hikes it's the perfect storm of economic headwinds that has a tendency to kick Ferrari values right in the nuts.

HotWheels82

7 posts

16 months

Saturday 18th March 2023
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Long time lurker first time poster.

Very interested to see how the 458 market evolves. Personally, after lusting over the 458 for many years and not quite being able to afford one due to other more pressing needs finally got into one last summer (at the peak of the market!)

I do think prices overall for 458s (even despite last N.A. Ferrari V8) will trend down slightly in the next 2 years or so given the macro picture (as last poster noted).

With that said, I still think the market will remain bifurcated between good and bad examples with desirable spec, lower miles and history continuing to trade at strong money. Such examples are simply becoming harder to find and most now in the hands of collectors or long term keepers who don’t see an upgrade path within the brand. In my case, for example, barring any significant change in personal circumstances, I don’t see myself selling any time soon.

We’ll see what comes up for sale over this year’s spring/summer driving season but last year I only saw a few quality examples for sale that all sold around the £200k mark. One blue TDF spider with tan interior, low miles, one owner car was listed by DL Swindon in August at £205k, advert was removed after just a couple of days. Also, another thread on PH talked about good examples being sold directly by dealers to preferred customers which isn’t crazy to believe.

You’ll definitely get much better value in the 488 market so if you don’t need a 458 I’d definitely go for one of those. However, if you’re looking for a top example 458 better be prepared to get the cheque book out and move fast as they don’t hang around (even in this market).

I haven’t seen many good condition, good spec mid miles 458s (call it £150-160k) come up for sale either. I think that’s another entry point for a lot of people so cars do tend to move there also.

Wishing the OP lots of luck with the search. Based on the search parameters I would be patient at this point, check AT daily and register interest with the main dealers based on desired spec and miles. Keep us posted!

Edited by HotWheels82 on Saturday 18th March 09:07

f1z

Original Poster:

42 posts

17 months

Saturday 18th March 2023
quotequote all
HotWheels82 said:
Long time lurker first time poster.

Very interested to see how the 458 market evolves. Personally, after lusting over the 458 for many years and not quite being able to afford one due to other more pressing needs finally got into one last summer (at the peak of the market!)

I do think prices overall for 458s (even despite last N.A. Ferrari V8) will trend down slightly in the next 2 years or so given the macro picture (as last poster noted).

With that said, I still think the market will remain bifurcated between good and bad examples with desirable spec, lower miles and history continuing to trade at strong money. Such examples are simply becoming harder to find and most now in the hands of collectors or long term keepers who don’t see an upgrade path within the brand. In my case, for example, barring any significant change in personal circumstances, I don’t see myself selling any time soon.

We’ll see what comes up for sale over this year’s spring/summer driving season but last year I only saw a few quality examples for sale that all sold around the £200k mark. One blue TDF spider with tan interior, low miles, one owner car was listed by DL Swindon in August at £205k, advert was removed after just a couple of days. Also, another thread on PH talked about good examples being sold directly by dealers to preferred customers which isn’t crazy to believe.

You’ll definitely get much better value in the 488 market so if you don’t need a 458 I’d definitely go for one of those. However, if you’re looking for a top example 458 better be prepared to get the cheque book out and move fast as they don’t hang around (even in this market).

I haven’t seen many good condition, good spec mid miles 458s (call it £150-160k) come up for sale either. I think that’s another entry point for a lot of people so cars do tend to move there also.

Wishing the OP lots of luck with the search. Based on the search parameters I would be patient at this point, check AT daily and register interest with the main dealers based on desired spec and miles. Keep us posted!

Edited by HotWheels82 on Saturday 18th March 09:07
Spec wise im not that bothered, im more so looking to get into a 458 and drive it as frequently as possible and not care about mileage or resale value. My search is really the 25,000 mile+ cars and if it doesn't have lift, carbon buckets / carbon trim inside its fine by me. I do think there may be deals soon on 488 if the correct higher mileage one comes along but based on AT, the asks are trying to hold them in the 150k range when realistically should be lower as they're not even moving at the Ferrari dealers.