The Β£100K 458...

The Β£100K 458...

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Discussion

Cheib

17,089 posts

122 months

Saturday 8th June 2013
quotequote all
retrospect said:
Main dealers are not offering much over 100k trade up I can assure you!
There are plenty of people that overstretch themselves to buy a car like a 458....if you're desperate to sell and dealer are reluctant buyers you never know! I'm sure £100k isn't his best bid.

Bluebottle911

764 posts

142 months

Saturday 8th June 2013
quotequote all
JM5 said:
You lot need to look harder here's one for 35k!

http://www.pistonheads.com/classifieds/used-cars/k...
rofl

Considering some of the abortions one sees by way of "replicas" of especially Italian exotica, I have to say that that one is remarkably convincing, at least in the photos: it wasn't until I spotted the A/C controls / gearlever / handbrake that I was actually sure I wasn't looking at a scam based on photos of the real thing. I have to admit, however, to not being over-familiar with 458s (more's the pity!) - I don't suppose a 458 owner would have been fooled as easily as I.

fesuvious

5,460 posts

188 months

Saturday 8th June 2013
quotequote all
List may be @170 but in reality most are specced near 200.

My maths was off slightly but there are 2-3 year old cars at @150 RHD.

So. 25k per year...so shall still see LHD examples flirting with 100k by Christmas and RHD @120-125.

And it's still 4-500 per week whilst the car is sat still.

That's some serious depreciation although whilst the 430 is sat in the 60's and 70's I couldn't see a 458 drop much below 100 for another 12 months at least although if 430's fall then the 458 shall fall in line.

I'd love to have the proper wealth to buy one but even if I had, I'm not sure I would. 20k a year in 'vanished' money is unpleasant.

Throw running costs on top and this year 458 owners will spend on average @2200 (ish) per month on ownership.

Back to topic though, I still believe LHD examples will nudge 100k by Christmas.

Funk

20,743 posts

156 months

Saturday 8th June 2013
quotequote all
Bluebottle911 said:
JM5 said:
You lot need to look harder here's one for 35k!

http://www.pistonheads.com/classifieds/used-cars/k...
rofl

Considering some of the abortions one sees by way of "replicas" of especially Italian exotica, I have to say that that one is remarkably convincing, at least in the photos: it wasn't until I spotted the A/C controls / gearlever / handbrake that I was actually sure I wasn't looking at a scam based on photos of the real thing. I have to admit, however, to not being over-familiar with 458s (more's the pity!) - I don't suppose a 458 owner would have been fooled as easily as I.
I would feel such a plum driving that.

rosino

1,220 posts

119 months

Sunday 9th June 2013
quotequote all
Ferrari better put in action their recently announced "exclusivity" strategy soon then...

If to get a new one it requires 2 years and not 2 months then used might hold a little better.

sone

4,375 posts

185 months

Sunday 9th June 2013
quotequote all
fesuvious said:
List may be @170 but in reality most are specced near 200.

My maths was off slightly but there are 2-3 year old cars at @150 RHD.

So. 25k per year...so shall still see LHD examples flirting with 100k by Christmas and RHD @120-125.

And it's still 4-500 per week whilst the car is sat still.

That's some serious depreciation although whilst the 430 is sat in the 60's and 70's I couldn't see a 458 drop much below 100 for another 12 months at least although if 430's fall then the 458 shall fall in line.

I'd love to have the proper wealth to buy one but even if I had, I'm not sure I would. 20k a year in 'vanished' money is unpleasant.

Throw running costs on top and this year 458 owners will spend on average @2200 (ish) per month on ownership.

Back to topic though, I still believe LHD examples will nudge 100k by Christmas.
I've no doubt Lhd will hit 100k and that's the result of speculative importing from Europe by people after a fast buck.
I'd say these cars aren't standing up to bad value wise over all and its good to see a few higher milers with 30-40k miles covered. In reality they have been dropping 15k or so a year and that curve will flatten once they get nearer the 100k mark.
All a bit irrelevant really tho I intend to drive my car and enjoy it, while I'm aware its dropping value just about everything out there is doing at least proportionally the same.
Each to their own!.

KenC

606 posts

182 months

Sunday 9th June 2013
quotequote all
sone said:
just about everything out there is doing at least proportionally the same.
Each to their own!.
Apart from the Scud wink .

sone

4,375 posts

185 months

Sunday 9th June 2013
quotequote all
KenC said:
sone said:
just about everything out there is doing at least proportionally the same.
Each to their own!.
Apart from the Scud wink .
Ok I'll give you that(-:

Try5t

712 posts

155 months

Monday 10th June 2013
quotequote all
I don't see the issue, he does make good point and good on him for trying, albeit perhaps a little optimistic at the moment, but come end of summer who knows. They certainly aren't going up in price.

The market appears stagnant which cannot be good news for prices in the medium term. I would be surprised if any dealer is going to want the car sat in stock unless the price is right and at the current market I would have thought that is well under what most cars are up for by at least 15k.

Anybody actually tried selling a 458 to a dealer yet, perhaps they can offer some real life examples?

UH-Matt

2,170 posts

187 months

Monday 10th June 2013
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458's definitely haven't met the right level of resistance yet on the depreciation curve, and there are a LOT in the market, seems to be a lot of stale ones around the 160k mark, so could easily see RHD examples in the 120/130k band by end of year / early next... 100k is far too optimistic unfortunately unless he is happy with a crash repair or LHD with a lot of miles.

WCZ

7,299 posts

141 months

Tuesday 11th June 2013
quotequote all
Bluebottle911 said:
rofl

Considering some of the abortions one sees by way of "replicas" of especially Italian exotica, I have to say that that one is remarkably convincing, at least in the photos: it wasn't until I spotted the A/C controls / gearlever / handbrake that I was actually sure I wasn't looking at a scam based on photos of the real thing. I have to admit, however, to not being over-familiar with 458s (more's the pity!) - I don't suppose a 458 owner would have been fooled as easily as I.
awesome replica imo, very impressive

Johnny997gt2

14 posts

139 months

Tuesday 18th June 2013
quotequote all
Every dealer is told to only advertise one 458 at a time. most dealers have 3 to 5 458's. Theres 70+ always for sale in piston heads. I bought a 2010 997 GT2 with 8k miles in lovely condition for £65k a few months ago from a guy who was having his house repossessed. People have a choice, sit on their 2010 458 for another winter by next spring it'll be another year older, out of warranty and with a balloon end of term payment due (circa £20-£30k) or cut your losses, cash in and reinvest the cash wisely to make your money recover.

sone

4,375 posts

185 months

Tuesday 18th June 2013
quotequote all
Johnny997gt2 said:
Every dealer is told to only advertise one 458 at a time. most dealers have 3 to 5 458's. Theres 70+ always for sale in piston heads. I bought a 2010 997 GT2 with 8k miles in lovely condition for £65k a few months ago from a guy who was having his house repossessed. People have a choice, sit on their 2010 458 for another winter by next spring it'll be another year older, out of warranty and with a balloon end of term payment due (circa £20-£30k) or cut your losses, cash in and reinvest the cash wisely to make your money recover.
I'm really struggling with this, I can't find a dealer who's advertising just one 458 they all seem to have a few advertised.
Secondly the 458's are at best showing an average 25% drop over three years which seems very good to me!.
Ok one or two left hookers or high mileage cars are lower but isn't hat right as well!.

rosino

1,220 posts

119 months

Wednesday 19th June 2013
quotequote all
Indeed we are talking 25-35 drop INCLUDING options in 3years. That might not be bulletproof depreciation or Ferrari's usual.. But it pretty damn good in anybody's book.

Te argument here though seems to be that those are ASKING prices. For a private the bid offer is just so huge at the moment that we are more into 45% territory if you need to offload yours at dealer bid if you can't part-ex effectively or SOR it.
Also note that the 2010 comparatively seem to be doing better than 2012 which now do come up fully specced at 165-170k.. Those will be the ones pushing down prices on the 2010 me thinks.

Johnny997gt2

14 posts

139 months

Wednesday 19th June 2013
quotequote all
sone said:
I'm really struggling with this, I can't find a dealer who's advertising just one 458 they all seem to have a few advertised.
Secondly the 458's are at best showing an average 25% drop over three years which seems very good to me!.
Ok one or two left hookers or high mileage cars are lower but isn't hat right as well!.
well i bought my 458 for £221k in June of 2011. The best price i could get from a dealer in October 2012 was £150k. No other dealer even wanted to make me an offer. That same dealer had a price of £179'950 for my car the week after I sold it to them. It's still for sale at that price today, some 9 months later. Ferrari dealers are being told by Ferrari to make it look like they don't have any. I was in one well known dealership the other day. there were no 458's in their showroom. in their back storage area though were seven of the things !!!

Adz The Rat

9,441 posts

156 months

Wednesday 19th June 2013
quotequote all
Johnny997gt2 said:
Every dealer is told to only advertise one 458 at a time.
I dont believe that for a moment.

sone

4,375 posts

185 months

Wednesday 19th June 2013
quotequote all
Johnny997gt2 said:
sone said:
I'm really struggling with this, I can't find a dealer who's advertising just one 458 they all seem to have a few advertised.
Secondly the 458's are at best showing an average 25% drop over three years which seems very good to me!.
Ok one or two left hookers or high mileage cars are lower but isn't hat right as well!.
well i bought my 458 for £221k in June of 2011. The best price i could get from a dealer in October 2012 was £150k. No other dealer even wanted to make me an offer. That same dealer had a price of £179'950 for my car the week after I sold it to them. It's still for sale at that price today, some 9 months later. Ferrari dealers are being told by Ferrari to make it look like they don't have any. I was in one well known dealership the other day. there were no 458's in their showroom. in their back storage area though were seven of the things !!!
So a 2 year old car has dropped circa 20% in forecourt value. Ok it hasn't sold yet but surely after 9 nine months they'd have dropped the price at least once?.
70k hit in 15 months on a car equating to a third of its value again on a trade bid is no shocker, although I appreciate its a massive amount of money to lose the dealers will want their pound of flesh..
Mind you 180k for a 2011 car is very expensive just looking through the classifieds its probably 15k high.

Boshly

2,753 posts

183 months

Wednesday 19th June 2013
quotequote all
Adz The Rat said:
Johnny997gt2 said:
Every dealer is told to only advertise one 458 at a time.
I dont believe that for a moment.
Whilst I can't comment specifically on this fact I can say that I was told, off the record, that the dealers are forbidden to buy LHD cars, even though my 16M was supplied and registered new in the UK by the UK Ferrari network! As such, the above wouldn't surprise me one bit.

Oh, and sold the 16M after one year and 4000 miles for £5k more than I paid.

Boshly

2,753 posts

183 months

Wednesday 19th June 2013
quotequote all
Boshly said:
Whilst I can't comment specifically on this fact I can say that I was told, off the record, that the dealers are forbidden to buy LHD cars, even though my 16M was supplied and registered new in the UK by the UK Ferrari network! As such, the above wouldn't surprise me one bit.

Oh, and sold the 16M after one year and 4000 miles for £5k more than I paid.
And 5 minutes after posting that I go and see AndrewD's LHD 16M for sale at Dick Lovetts proving me wrong biggrin

Oh well. I'll have to change that to Meridien and Maranellos rather than all dealers getmecoat

FWIW Edward Lovett (no connection now with the dealership) who brokered my deal quickly and efficiently.

F355GTS

3,500 posts

202 months

Wednesday 19th June 2013
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Dealers are generally limited to advertising one per branch on newer models, there's no set time frame to this but it's determined by FNE and based on the market as they see it eg the California was around 2 Years, dealers can benefit as it's gives the perception of limited supply and therefore higher prices. I understand the restrictions were lifted some time ago on the 458.