2001 FERRARI 360 WITH 6 OWNERS HELP!!

[sheldon]

Hi,I am about to purchase my first Ferrari & although I have done sum research I would appreciate some advice/ guidance on some concerns I have. Would anyone be able to enlighten me on what is considered to be an acceptable amount of previous owners? I have seen a perfect car,it ticks all the right boxes but has had 6 previous owners the car is 2001 with 20,000 miles, full Ferrari service history from graypaul & has been sold by graypaul of nottingham dealership on three occasions. Do Ferrari owners only keep their car for a year due to depreciation or is this case a rarity? The number of previous owners is the only thing holding me back

[GreigM]

not unusual - number of reasons - running costs, depreciation, the "been there done that" factor can make them change hands fairly frequently.

[ofd]

If your worried already about being the sixth, do you think when you want to sell your buyer will be worried about being the seventh.....

[mattt7]

Very common with Ferraris for alot of the reasons Greigm said. What's most important is the condition and that it has a good solid history.

[bromers2]

6 different people who have ragged it. Lower owners is better than lower mileage in my opinion.

[ACEparts_com]

6 owners who've cherished it, had it inspected, sold it (after an inspection). Perfect.

[Chris355]

6 owners would be relatively normal. They change hands alot. Means nothing about the condition. I wouldnt even think twice about the number of owners (it is an old fashioned consideration).

Buy entirely on condition and history. Have it PPI'd, if they say it is a good one then go for it.

[spidermanUK]

There are some strange quirks about Ferraris that buck traditional conventions about used cars, one of them being number of owners. Firstly, it's not unusual for cars to be kept for 1 summer by each owner, particularly if the car's from early in the model life when premiums were still to be had.

Secondly, mileage expectations are stupid....if you were looking at a 7 year old Porsche that had only done 5,000 miles a year, you'd leap at it.....but a 35,000 mile Ferrari is considered as only fit for the scrappy! BTW, they get better as they do more miles and loosen up!

Thirdly is a car that's been painted, if you try to sell a Bentley that's had the front end painted, most Main Dealers wouldn't even consider it, but a Ferrari that's had or needs a front end respray is absolutely normal! Obviously accident damage is a different matter!!!Often other panels will have been painted after leaving the factory but prior to delivery to the 1st owner, check with a paint gauge if you can.

Do NOT however take the service book at face value, ask to see the supporting invoices for ALL the service work, or contact the dealers who carried out the work, paying particular attention to any advisory items that may not have been attended to.

[Paracetamol]

Totally normal...The first owner is usually massively wealthy and has another on order and sells within a year...they are then bought..used in the summer and sold.. Lower owners is nice but condition is far more important..

[Wanta996(Gotta)]

Very true that you should buy on condition but thats only if you actually know what you are looking for with regards to a used Ferrari 360.(A friend bought a used Gallardo from Lamborghini Birmingham and there was certain things/noises/thuds that raised an eyebrow "to myself" but Lambo said, they all do that??) I nor my friend knew any different so he just put up with it.

Anyway, the problem i have with 6 owners is that you have to basically guess or assume how 6 different people have cared for the car with regards to servicing it, driving/tracking it or in some cases not driving it atall as they can change hands at the initial buying stage 2 or even 3 times without going over 1k miles which is more than ideal.

Also, have none of those 6 contemplated clocking it(i do know of someone who "allegedly" does this) and by judging the wear & tear on some of the seats of used Ferraris with allegedly 15k genuine miles on the clock?? is a common thing "unless" owners like sitting in them while static in the garage

I would also think that the price should be a tad lower than an identical car with similar milage. All IMO may i add.

Edited by Wanta996(Gotta) on Friday 30th May 11:22

[Bebs]

A 7 year old F360 with 20,000 miles on the clock and 6 owners..

[bromers2]

Bebs said:

A 7 year old F360 with 20,000 miles on the clock and 6 owners..

Agree.

Seriously - which one is worth more though :

1) A 7 year old F360 with 20,000 miles on the clock and 6 owners..

2) A 7 year old F360 with 20,000 miles on the clock and 3 owners..

(Assuming identical condition)

No.1 is always going to command a higher price - rightly or wrongly.

6 owners - there is more probability that one of the owners has 'abused' it.

[Jules360]

bromers2 said:

Bebs said:

A 7 year old F360 with 20,000 miles on the clock and 6 owners..

Agree.

Seriously - which one is worth more though :

1) A 7 year old F360 with 20,000 miles on the clock and 6 owners..

2) A 7 year old F360 with 20,000 miles on the clock and 3 owners..

(Assuming identical condition)

No.1 is always going to command a higher price - rightly or wrongly.

6 owners - there is more probability that one of the owners has 'abused' it.

Lets assume that 1 in 6 owners "abuse" their cars. The 6 owner car has therefore been abused for 1 year, but the 3 owner car has a 50% probability of having had an abusing owner, but for twice as long, and thereore statistically has also been abused for 1 year.

Luck of the draw, methinks. Get it inspected, abuse will become evident.

Edited by Jules360 on Friday 30th May 12:43

[TIGA84]

Paracetamol said:

Totally normal...The first owner is usually massively wealthy and has another on order and sells within a year...they are then bought..used in the summer and sold.. Lower owners is nice but condition is far more important..

do plate changes count as owner changes? 2 or 3 private plate shifts and you've doubled your owners straight away, plus the wealthy bloke who sold with 800 miles on it from his trip to Scotland, plus 2 normal owners doing 10k and looking after it for a couple of years each with private plates.

I wouldnt even look at it personally, know someone with a 10 owner 355 and its mint.

Buy on condition and history.

[bromers2]

Jules360 said:

bromers2 said:

Bebs said:

A 7 year old F360 with 20,000 miles on the clock and 6 owners..

Agree.

Seriously - which one is worth more though :

1) A 7 year old F360 with 20,000 miles on the clock and 6 owners..

2) A 7 year old F360 with 20,000 miles on the clock and 3 owners..

(Assuming identical condition)

No.1 is always going to command a higher price - rightly or wrongly.

6 owners - there is more probability that one of the owners has 'abused' it.

Lets assume that 1 in 6 owners "abuse" their cars. The 6 owner car has therefore been abused for 1 year, but the 3 owner car has a 50% probability of having had an abusing owner, but for twice as long, and thereore statistically has also been abused for 1 year.

Luck of the draw, methinks. Get it inspected, abuse will become evident.

Edited by Jules360 on Friday 30th May 12:43

On a 3 owner car you can contact at least 2 of them (current and previous) - 2 out of 3 vs 2 out of 6.

[bromers2]

TIGA84 said:

Paracetamol said:

Totally normal...The first owner is usually massively wealthy and has another on order and sells within a year...they are then bought..used in the summer and sold.. Lower owners is nice but condition is far more important..

do plate changes count as owner changes? .

No.

[Jules360]

bromers2 said:

Jules360 said:

bromers2 said:

Bebs said:

A 7 year old F360 with 20,000 miles on the clock and 6 owners..

Agree.

Seriously - which one is worth more though :

1) A 7 year old F360 with 20,000 miles on the clock and 6 owners..

2) A 7 year old F360 with 20,000 miles on the clock and 3 owners..

(Assuming identical condition)

No.1 is always going to command a higher price - rightly or wrongly.

6 owners - there is more probability that one of the owners has 'abused' it.

Lets assume that 1 in 6 owners "abuse" their cars. The 6 owner car has therefore been abused for 1 year, but the 3 owner car has a 50% probability of having had an abusing owner, but for twice as long, and thereore statistically has also been abused for 1 year.

Luck of the draw, methinks. Get it inspected, abuse will become evident.

Edited by Jules360 on Friday 30th May 12:43

On a 3 owner car you can contact at least 2 of them (current and previous) - 2 out of 3 vs 2 out of 6.

Previous : "Hello, you don't know me, but you used to own a Ferrari. Did you drive it like you stole it ? ...."
Current : "So this car you are selling, have you looked after it, or revved it's nuts off before it's all warmed up?..."

Don't think you will learn a lot from either conversation.

Edited by Jules360 on Friday 30th May 14:09

[spidermanUK]

[quote=Wanta996(Gotta)]Also, have none of those 6 contemplated clocking it(i do know of someone who "allegedly" does this) and by judging the wear & tear on some of the seats of used Ferraris with allegedly 15k genuine miles on the clock?? is a common thing "unless" owners like sitting in them while static in the garage


[/quote]

Alas a popular misconception! The bolsters, particularly on Crema 355s wear at an alarming rate, often giving the appearance that the car must have covered more miles than it shows! Mine is showing signs of wear and it's only done 19,000 miles, and I'm CERTAIN mine hasn't been clocked or had the speedo disconnected.....'cos I've had it from new!

[Chris355]

Clocking on a 360 if it is an f1 is relatively easy to discover. Have a specialist plug it into an SD2 and you can get some very interesting info, including number of gear changes and mileage per gear, clutch wear etc.

I had a 36k mile 355 and the seats were the best I had ever seen (looked virtually new, so wear is tricky. Depends how they are treated, how many times people get in and out and what they are wearing. If mine had been corrected to 15k it would have fooled anyone. Sold it with 36k miles on it relatively easily due to condition. It had 6 ish owners from memory as well. When I am buying a car I dont even check for number of owners. Oh, had it around 2.5 years and it had fantastic reliability.

You can hypothesise all you like but number of owners tells you nothing. Afraid you pays your money and takes your chances.

[ns1]

I am the very happy 5th owner of a 2001 360 spider bought privately last week. First Ferari for me and the number of owners wasn't an issue. FFSH, all documentation and invoices was key. GBP 260 for a main dealer 191 point inspection - same they put their dealership cars through for their own sales team further eased my mind. They would have provided a warranty for just over 2k as well as it passed the inspection. The last owner - no. 4 - had it in a heated garage and had looked after it meticulously. Find the right car, get it checked and pull the trigger : they are awesome. A lot of car for the money now.

Chris - I agree about the side bolsters / interior. I looked at some 01-03 cars with 12k on the clock and they looked like they had seen 120k, the steering wheels and side bolsters were so worn.