The Β£100K 458...

The Β£100K 458...

Author
Discussion

Durzel

8,778 posts

123 months

Thursday 7th November 2019
quotequote all
garystoybox said:
It’s madness to think a Ferrari main dealer will look at WBAC.... the dealers and the factory know the market prices better than anybody.
+1

I don't know where WBAC has entered the equation on Ferrari valuations. Main dealers control the pricing very expertly. With the exception of Ferrari Edinburgh (which for some reason always seems to be slightly less expensive) all of the dealers have pretty much the same upfront pricing.

I don't know why anyone - customers or dealers - would be looking at WBAC for Ferraris, or indeed any supercar.

FWIW the spread on my Rosso/Nero nicely carboned (seats, driving zone, steering wheel) 458 was £13k.

Order66

6,220 posts

204 months

Thursday 7th November 2019
quotequote all
ghost83 said:
Thing is if trade prices are going for around 100k then it is representative because if ppl want out the first things they do will ask a dealer and look at wbac, I went to see about a 2yr old R8 a few weeks ago and Audi blatantly looked at wbac to get a value on my daily golf gti, then they offered me £200 above the wbac offer, so dealers will be using it and I imagine Ferrari and any others will too,
Nonsense. All of it.

Taffy66

3,792 posts

57 months

Thursday 7th November 2019
quotequote all
garystoybox said:
It’s madness to think a Ferrari main dealer will look at WBAC.... the dealers and the factory know the market prices better than anybody. For example last December WBAC showed a trade value of £107k for my 458, whilst the dealer happily offered me £130k. Ok, the markets moved a little but the spread of trade to retail price is still £15-£20k on a rosso well specced car.
This is pretty much it..WBAC are after all a bunch of crooks who prey on the innocent and desperate car sellers.Its a well known fact that last year Ferrari main dealers were phoning 458 owners up offering generous PX in return for buying an used 488 they had in stock..

Candellara

1,256 posts

137 months

Thursday 7th November 2019
quotequote all
Order66 said:
Nonsense. All of it.
Yep, you won't find a Ferrari main dealer using WBAC pricing - except in the circumstance of maybe justifying their "higher" PX value to a client.

A cars valuation will be made looking at other similar spec cars in the market place and then appending their appropriate margin. Typically on a 458 that spread might be as little as £15k to £20k at an independent or as much as £30k upwards at a main dealer. I'd expect at least a 30k spread on a 150k main dealer car and upwards of this as the value increases. If for example you're PX'ing a Ferrari at a Porsche dealer, they'll go out to the specialist dealer market to get the car underwritten.

As said, SOR is popular because by and large owners are unhappy with the valuation that a dealers given to purchase a car. Outside of PX, with the market as it is at the moment, i'd be very surprised if any dealer at all will offer to buy car's for cash.

It's only really a issue when you want to "get out" of supercar ownership i.e you wish to offload without buying the next upgrade or latest offering


Edited by Candellara on Thursday 7th November 12:08


Edited by Candellara on Thursday 7th November 12:24

ghost83

3,858 posts

145 months

Thursday 7th November 2019
quotequote all
I never said Ferrari would use them so don’t take it as gospel! But someone earlier said a trade bid on a £130-140k 458 is around 100k

I looked on wbac punched in a reg of autotrader just to see and yep came back at 100k

So if trade prices are 100k and wbac also offer 100k what’s the difference!!

I also did the same with mclaren 570s considering again someone said the trade bid would be around 60k and wbac said 73k on a 85k orange car

You can say nonsense etc etc etc but wbac isn’t too far off the trade prices been spoke of

Candellara

1,256 posts

137 months

Thursday 7th November 2019
quotequote all
ghost83 said:
I never said Ferrari would use them so don’t take it as gospel! But someone earlier said a trade bid on a £130-140k 458 is around 100k

I looked on wbac punched in a reg of autotrader just to see and yep came back at 100k

So if trade prices are 100k and wbac also offer 100k what’s the difference!!

I also did the same with mclaren 570s considering again someone said the trade bid would be around 60k and wbac said 73k on a 85k orange car

You can say nonsense etc etc etc but wbac isn’t too far off the trade prices been spoke of
Probably won't be that far out as all car's depreciate and WBAC just use the standard algorithms. I'd suggest that the WBAC pricing is probably closer than many people might think if you're looking to sell a given car to a dealer for cash - no purchase or PX

What it obviously cannot account for is particular specification and more importantly, how much margin the dealer has in the car you are purchasing. This will always affect the PX price on your car.

Wilmslowboy

2,902 posts

161 months

Tuesday 12th May
quotequote all
7 years on from the start of this thread....could we be eventually about to see a sub £100k Ferrari 458 biggrin

No story, RHD 458 and low miles

https://collectingcars.com/for-sale/2010-ferrari-4...

I have a sneaky feeling even with these tough times and that its a 10-year-old car, this will still breach that value...




fesuvious

5,815 posts

196 months

Tuesday 12th May
quotequote all
No description. No details.

So how do you know there is no story?

jsw777

19 posts

2 months

Tuesday 12th May
quotequote all
That car had been listed at a local dealer for 6 months or more at £119k.
I’ve been looking for a 458 for awhile and viewed the car back in February.
Nice car, front passenger side alloy had a mark on it and it was 3 or 4 months overdue it’s annual service although it had only done 500 or so miles since it’s previous service.
I’m still looking so will be interesting to see what it makes.

FezSpider

594 posts

187 months

Tuesday 12th May
quotequote all
There is one in auto trader for 87k.
I don't know much about it, dont know its story apart from its had an engine rebuild.
It is well below the 100k as per thread title.
http://www.autotrader.co.uk/classified/advert/2020...



Edited by FezSpider on Tuesday 12th May 09:59

Durzel

8,778 posts

123 months

Tuesday 12th May
quotequote all
jsw777 said:
That car had been listed at a local dealer for 6 months or more at £119k.
I’ve been looking for a 458 for awhile and viewed the car back in February.
Nice car, front passenger side alloy had a mark on it and it was 3 or 4 months overdue it’s annual service although it had only done 500 or so miles since it’s previous service.
I’m still looking so will be interesting to see what it makes.
How come you didn't buy it, if you don't mind me asking? Those two faults don't sound like a huge deal?

Lee Jones Jnr

508 posts

125 months

Tuesday 12th May
quotequote all
FezSpider said:
There is one in auto trader for 87k.
I don't know much about it, dont know its story apart from its had an engine rebuild.
It is well below the 100k as per thread title.
http://www.autotrader.co.uk/classified/advert/2020...



Edited by FezSpider on Tuesday 12th May 09:59
I imagine that the number plate will give a certain impression to most as to how it’s been treated and looked after

Durzel

8,778 posts

123 months

Tuesday 12th May
quotequote all
That yellow car has been on here before, it looks shabby, modified, and has had an engine rebuild. It's probably an interesting value proposition for someone, but not anyone who actually wants a car they can easily sell themselves down the line. Dealers won't touch it.

cayman-black

9,328 posts

171 months

Tuesday 12th May
quotequote all
Here we go this should be interesting.

av185

11,222 posts

82 months

Tuesday 12th May
quotequote all
Lee Jones Jnr said:
I imagine that the number plate will give a certain impression to most as to how it’s been treated and looked after
Yep certainly one more for the C124PPY Chavplate thread. rolleyes

FezSpider

594 posts

187 months

Tuesday 12th May
quotequote all
Lee Jones Jnr said:
I imagine that the number plate will give a certain impression to most as to how it’s been treated and looked after
Yea I thought the same.

jsw777

19 posts

2 months

Tuesday 12th May
quotequote all
Durzel said:
How come you didn't buy it, if you don't mind me asking? Those two faults don't sound like a huge deal?
Couldn’t agree on a price for my R8 was the main reason. Plus I decided I wanted a red one as it will be my first Ferrari.

WCZ

7,657 posts

149 months

Tuesday 12th May
quotequote all
jsw777 said:
That car had been listed at a local dealer for 6 months or more at £119k.
I’ve been looking for a 458 for awhile and viewed the car back in February.
Nice car, front passenger side alloy had a mark on it and it was 3 or 4 months overdue it’s annual service although it had only done 500 or so miles since it’s previous service.
I’m still looking so will be interesting to see what it makes.
wouldnt be surprised if it gets very near to £115k

this will be a true test of the market imo

cayman-black

9,328 posts

171 months

Tuesday 12th May
quotequote all
WCZ said:
jsw777 said:
That car had been listed at a local dealer for 6 months or more at £119k.
I’ve been looking for a 458 for awhile and viewed the car back in February.
Nice car, front passenger side alloy had a mark on it and it was 3 or 4 months overdue it’s annual service although it had only done 500 or so miles since it’s previous service.
I’m still looking so will be interesting to see what it makes.
wouldnt be surprised if it gets very near to £115k

this will be a true test of the market imo
Surely it could have been bought for that figure a few months ago? If it does achieve £115k CV19 has had no effect on the price imo.

Wilmslowboy

2,902 posts

161 months

Tuesday 12th May
quotequote all
fesuvious said:
No description. No details.

So how do you know there is no story?
It was a retail car, perhaps the dealer looking to cash out ???