Tuesday 25th July 2017

Ferrari 456M GT: Spotted

Price? £180K. Average annual mileage since 1999? 25...

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There's some debate in the PistonHeads office about whether the Ferrari 456 is a good looking car. There are those who consider it something of a highpoint, a great example of how a Ferrari can be beautiful and eye catching yet also quite modest and restrained - then there are those people who are wrong. It's lovely in isolation, yet even lovelier when you look at the models that directly preceded and followed it.

Could have got it to 456 at least...

Anyway, before that hornets' nest is disturbed further, it's time to discuss 456 values. Because, like apparently everything from the past with a Prancing Horse on it, prices have soared in recent years. The big V12 endured a prolonged period in the doldrums, before the market woke up to just what good value - relatively speaking - both the 456 and its 550 contemporary represented.

PH was on this trend a while back, so there's no hope of picking up a cheap 456 again sadly. Instead we're now dealing with cars at comfortably £50K plus, and in extreme cases cars like this: a Rosso Corsa 456M GT, priced at £179,995.

That's because it has covered just 453 miles since 1999, a truly tiny amount and reflected in the car's incredible condition. 'Nearly new' is a terribly overused phrase, but this 456 really is immaculate. The paint, the leather, the wheels; all look as fresh as they must have done in the last year of the last century, which is a rather appealing prospect. And it's a manual! If only it were Tour de France Blue...

Now it would be very easy to witter on about just how lovely the 456 is, though of course it's also worth considering what else from the Ferrari stable - pun intended, apologies - is available. 612s haven't yet enjoyed the resurgence that the 456 has, meaning the best cars are well within budget. Very nice FFs can even be bought for £180K, with 599s also on offer if you fancy something racier. That's before you consider venturing elsewhere - £180,000 is a lot of money!

Once upon a time this was sold with the 355...

Perhaps the question is therefore whether the big V12 Ferraris are worth it. Famously the series production four-seater V12s have depreciated savagely, and seemingly never quite appealed to collectors like some other models. Of course the limited editions will always be in demand but, with a 355 GTS F1 currently for sale privately at £150,000 (!), could attention be switching to the front-engined cars?

This is surely a 456 destined for a collection, which seems rather a shame given not enough are seen as it is. Can't exactly blame whoever gets hold of it, given the price and the condition. What it will be fascinating to see, however, is just how wise an investment it turns out to be in the mad world of Ferrari values.

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FERRARI 456M GT
Engine: 5,473cc, V12
Transmission: six-speed manual, rear-wheel drive
Power (hp): 442@6,250rpm
Torque (lb ft): 406@4,500rpm
MPG: 13
CO2: 495g/km
Recorded mileage: 453
Year registered: 1999
Price new: N/A
Price now: £179,995

See the original advert here.

[howardhughes]

Quite simply one of the most elegant Ferraris ever made.
Pure understatement.

[R66STU]

Nice cars, but when I squint they always remind me of the 406 Pininfarina

[2 GKC]

Lovely thing. Look great in dark blue. I think the facelift (M) was a step back in design - the front end on the original was more elegant

[Mogul]

Nice car.

It sold at auction in Feb 2015 for £118,125 with '400 miles from new'.

http://www.silverstoneauctions.com/1999-ferrari-45...

https://www.youtube.com/watch?v=qp5hxHPlTq8

[ruminator]

Interesting with recent chat in the forums regarding a downturn in the "investment car market", and low mileage garage queens beginning to be offloaded...

Hardly cheap mind!

[RobDown]

Sorry, it's a rubbish proposition

As soon as you buy the car you have to put it into storage. After all, there's a big premium attached to it for its low miles and pristine condition. As soon as you drive that thing and put 2/3/4k miles on it it will drop sharply in value

I'd personally rather buy one with 20k miles on the clock for a dramatically lower price that I could use without feeling that I'm burning £20 notes with each mile I do (beyond the fuel)

[DKL]

Glorious things, I'd dearly love one but every time I try and justify the numbers the running costs of a v12 seem astronomical. There's a lovely green manual on ebay but its a cat c and recently (2014) so it sustained £30k+ worth of damage. Sadly that has to put you off but its by far the cheapest way in. Running costs would be the same mind.
One day maybe.

[gl20]

Put the 4 miles on it to get to the magic 456 and it will surely go up in value?

[Mogul]

gl20 said:

Put the 4 miles on it to get to the magic 456 and it will surely go up in value?

We have a winner!

[parabolica]

howardhughes said:

Quite simply one of the most elegant Ferraris ever made.
Pure understatement.

Couldn't agree more; holds my #1 spot along with the 330GTC.

[towser44]

Passed the showroom at the weekend when out for a cycle and saw this, looked stunning.

[Resolutionary]

When you realise that a good'un with travel time can be had for around £50k, this seems a ludicrous proposition to all but those with a hankering to add to their collection of pristine go-nowhere museum pieces, and / or speculators who will keep the thing dry-stored in the hope of further profit in years to come.

I'd personally opt for one with a few miles, a few stories and therefore the ability to be used as Mr Ferrari man intended.

You've got to wonder, having been literally nowhere for so long - is this likely to throw up some unexpected problems?

[Raramuri]

I love the 456 and had a 1:18 model (Burago?) in blue when I was a yoof, as i'm sure many others on here did too. Despite it being one of the more beautiful modern Ferraris, I've always thought they looked a bit 'under-wheeled'.

I remember a chap on here picked one up for £17k a few years back, I wonder what that one is worth now.

[spodrod]

That 355 looks lovely. Although Id struggle to hand over 150k (assuming I had it of course) to a man who;

Uses the phrase "physically available"
And shouts "ONE PREVIOUS OWNER" before discussing maintenance done by him and another previous owner. I know that he's technically correct, but that p1sses me off.

[Schermerhorn]

gl20 said:

Put the 4 miles on it to get to the magic 456 and it will surely go up in value?

Assuming the tachometer still works.

It is Italian after all.....

[7795]

There always used to be one around the back of Harrods (Hans Crescent I think?!) in Blue, slowly rotting away and seldom, if ever, used...

Lovely cars.

[slipstream 1985]

New tax however many miles you do taken away from 5000 miles per year is how many £s you pay. Drive it 200 miles a year you are hit with a £4800 tax bill for that year.

[Jex]

spodrod said:

That 355 looks lovely. Although Id struggle to hand over 150k (assuming I had it of course) to a man who;

Uses the phrase "physically available"
And shouts "ONE PREVIOUS OWNER" before discussing maintenance done by him and another previous owner. I know that he's technically correct, but that p1sses me off.

I think that 355 is seriously overpriced. You can ask what you like, but F1s are less popular than manuals (see another thread about that trend). Of course like anything else, it is what someone will pay for it.

456s might be going up, but most of the older V8s that you can drive (i.e. that do not have silly low mileages, so will just go from one store to another) peaked about 18 months ago and are either holding their value or dropping at the moment.

[ChocolateFrog]

I bet the guy on here who bought his high miler for £17k is laughing.

[Adz The Rat]

howardhughes said:

Quite simply one of the most ugly Ferraris ever made.

Fixed that for you.