Ferrari Prices Today???? - Ferrari Life
 
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post #1 of 5 Old 05-24-2009, 09:40 PM Thread Starter
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Ferrari Prices Today????

After all the discussion on huge changes in Ferrari values, market shifts, depression, etc over the last 6 months, where do we really stand today post the Q4 2008 melt down and now that all the major 1st half 2009 auctions have been completed?

Breaking the market down into

Former F1/Race cars

Vintage (pre 72)
Classic (72-92)
Modern (92- )

Thoughts?
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post #2 of 5 Old 05-24-2009, 10:05 PM
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I don't really watch prices for vintage, racing or supercars, but I have been watching prices for classics and modern cars. I think that my recently purchased 308 GTS QV sums up the classic market, it had been on the market for about a year, starting price last summer was 26995 GBP, over the winter the price was reduced to 23995 GBP, and I didn't pay anything like that for it. 308 and 328 asking prices are down about 10 -15% on what they were 12 - 18 months ago, but I think that deals can be done at 25% below the peak if the dealer owns the stock and it has been sitting around. Dealers are like any other business and they need cashflow, as the banks aren't extending their over drafts or credit facilities, they need to shift stock at any price.

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post #3 of 5 Old 05-25-2009, 08:33 AM
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My $0.02.

1. Former F1/race cars. This is a market I know nothing about.
2. Vintage. The RM auction clearly showed the depression in the market. The far, far, majority did not reach it's lower estimate and a significant number of sales only came about because of the lowering of reserve during the auction.. It is very clear to me that there is a depression in the vintage Ferrari market. However, what is really surprised me in the last 6 months is how little of a depression it is. On most models, I would say there is a reduction of around 20 - 30%, mostly closer to 20%. Considering the crisis we are in, this is actually a very impressive performance. And this depression only seems to affect the good and below cars, excellent examples have hardly dropped. If we compare 2004/2005 pricing and economy with 2009, then you would have to say that vintage Ferrari prices are amazingly high, really. This is one of the reasons that I bought my 330GTC now - I really think that they are not going to come down like every one (including myself) expected them to. If they perform well enough now, wait what happens when the economy recovers.
3. Classic. These cars have a knock but overall it hasn't been all that bad. As an example, the 365BB was hammered at 130k including commission at Maranello. Still a very healthy price, only 20% of the absolute highs of last year and 40% higher than a similar UK car. This is one thing to note: the UK has seen much more of a drop, even just in GBP. Translate the UK prices into Euro and the drop has been quite shocking.
4. Modern. The knock has been hard on very recent cars, particularly on V12 cars. 612s are worth next to nothing now, even with low mileage. The same for the 550/575 cars. In the V8s, the hardest knocks have been dealt to the F430 crowd. Strangely, the 360 seems much less affected.

But all in all, I think Ferrari prices have performed very well. If you see the knocks on other luxury cars (Astons, Maseratis and so on), then Ferrari has truly lived up to its name as the pinnacle of sports cars - people have more faith in the name and consequently cars sell better second hand even in a crisis.


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post #4 of 5 Old 05-25-2009, 10:49 AM
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I would venture to say the the 360's have done ok because of their style and lower #'s than 430's.

There is a Dino reminesence in the 360 (at least for me and probably for other prior Dino owners), and I think it represents a "era" of Ferrari.

It was a major departure from prior models, it was all aluminum, it was coupe and spider only, it has beautiful lines, and it had the CS series that was a success.

The style is certainly more appealing than is that of the 430!

I think, too, that it came at a time when many were doing ok financially, and that might represent a better feeling than to some who purchased 430's as the markets were souring. My psychological take!

I think the lower production numbers have help although when you mention the 612 that has very low production numbers and its value has, as stated, tanked!

I guess not much makes sense any more.
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post #5 of 5 Old 05-25-2009, 11:47 AM
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Bulletproof Value

For my money, and since I just recently purchased one, I stand behind my words, I feel a late model Testarossa represents a "Bulletproof" investment in today's market. A "Classic" body styling, last of the "flat 12's", still a "Head Turner", and all that for around $50,000.00 to $60,000.00, with what I believe to have an appreciation upside!, In 10 years I don't calculate a "Vintage" well maintained 1991 Testarossa selling for less than $50,000.00, Hell in 10 years a "new" Honda might be North of $50,000.00, and honestly what would you rather have in your garage?! Mark
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