F430 Spider Depreciation, 12 months going forward - Ferrari Life
 
LinkBack Thread Tools Display Modes
post #1 of 16 Old 10-26-2012, 01:29 PM Thread Starter
Owner
 
IDriveM5's Avatar
 
Join Date: Jun 2012
Location: Ohio
Ferrari Life Posts: 270
F430 Spider Depreciation, 12 months going forward

Relatively straightforward question gentlemen, I HAVE tried a (somewhat brief) search on my query.

What is the general consensus for F430 Spider depreciation over the next 12 months? Assume timeframe is Fall 2012 to Fall 2013.

Sorry for making you bust out the crystal ball

Are we talking $10k, $15k, more or less than either? Just soliciting your thoughts and opinions. Thanks in advance.
IDriveM5 is offline  
Sponsored Links
Advertisement
 
post #2 of 16 Old 10-26-2012, 03:00 PM
Owner
 
haha's Avatar
 
Join Date: Oct 2012
Location: la la land, California
Ferrari Life Posts: 21
I am seeing 10k per year but the depreciation has slowed some what in the later half of this year on the spiders. At some point it'll stabilizes but when is the 1 million dollar question. I could be seeing things but the depreciation on 360 challenge has stopped. Am I wrong on that?
haha is offline  
post #3 of 16 Old 10-26-2012, 10:22 PM
Owner
Elite Member
 
Join Date: May 2010
Ferrari Life Posts: 3,320
I generally agree with Haha, but think the depreciation will be slightly less than 10%. And don't forget the typical slight bump in prices in the spring.

Of all the narcissists I know, I love me the most.
Killer58 is offline  
 
post #4 of 16 Old 10-27-2012, 12:05 AM
Administrator
Owner
Elite Member
 
Boxer's Avatar
 
Join Date: Apr 2004
Location: UK & Texas
Ferrari Life Posts: 15,131
Over in the UK 430 Spider prices have now been fairly stable for over a year.
Boxer is offline  
post #5 of 16 Old 10-27-2012, 05:46 AM
Owner
 
champagne612's Avatar
 
Join Date: Sep 2010
Location: St Louis
Ferrari Life Posts: 10,022
Depends how much you pay and what year color and options.

A well documented well spec'd 430 Spider vs a poorly spec'd undocumented car with issues.

I think people the people who bottom fish don't realize the value of spending more upfront.

The buying portion followed by the care and use will effect the sale / depreciation more than anything else.

Keep in mind a 125K spider requires more maintenance than a brand new 285k spider - be prepared for the worst and hope for the best.
champagne612 is offline  
post #6 of 16 Old 10-27-2012, 07:42 AM Thread Starter
Owner
 
IDriveM5's Avatar
 
Join Date: Jun 2012
Location: Ohio
Ferrari Life Posts: 270
Thanks so far. I'm savvy enough to realize that the depreciation depends on a number of factors. Seems like around $10k in a year seems like a reasonable rule of thumb. Unfortunately, means that the F430 is still beyond my budget . No worries though, the 360 will make a fantastic ride.
IDriveM5 is offline  
post #7 of 16 Old 10-27-2012, 07:55 AM
Owner
 
champagne612's Avatar
 
Join Date: Sep 2010
Location: St Louis
Ferrari Life Posts: 10,022
Quote:
Originally Posted by IDriveM5 View Post
Thanks so far. I'm savvy enough to realize that the depreciation depends on a number of factors. Seems like around $10k in a year seems like a reasonable rule of thumb. Unfortunately, means that the F430 is still beyond my budget . No worries though, the 360 will make a fantastic ride.
I don't think there is a number.

Everyone should place a value on their time.

If you take 100 hours shopping at 100.00 per hr that's 10k - given your posts I assume you are at 100 hours.

Resale - If you take another 100 hours selling your car that's another 10k.

You just loss 20k.

A guy that buys a car at the dealer and drives it for 2 years and sells it back for 20k less is far ahead of the guy who places no value on his time.

Keep in mind that you are not only placing zero value on your time but the sellers too.

A real seller and a real buyer should take no longer than 72 hours - anything outside that is a waste of everyones time.

There were at least 15 people interested in my 612 - they were tire kickers and still ask is the car for sale.

I never went below 123k - until a real buyer made me an offer and was willing to wire the next day. I took off 10k and finished the deal.
champagne612 is offline  
post #8 of 16 Old 10-27-2012, 09:21 AM Thread Starter
Owner
 
IDriveM5's Avatar
 
Join Date: Jun 2012
Location: Ohio
Ferrari Life Posts: 270
Quote:
Originally Posted by champagne612 View Post
I don't think there is a number.

Everyone should place a value on their time.

If you take 100 hours shopping at 100.00 per hr that's 10k - given your posts I assume you are at 100 hours.

Resale - If you take another 100 hours selling your car that's another 10k.

You just loss 20k.

A guy that buys a car at the dealer and drives it for 2 years and sells it back for 20k less is far ahead of the guy who places no value on his time.

Keep in mind that you are not only placing zero value on your time but the sellers too.

A real seller and a real buyer should take no longer than 72 hours - anything outside that is a waste of everyones time.

There were at least 15 people interested in my 612 - they were tire kickers and still ask is the car for sale.

I never went below 123k - until a real buyer made me an offer and was willing to wire the next day. I took off 10k and finished the deal.
Cool, thanks for the info. I'm not entirely sure I agree with the calculation of the value of the hours spent researching, but I do understand it, especially when considering the selling side. I think that may be why some people do consignments. I sort of look at it (research) a little bit like a hobby. The same way I don't factor in the cost of time while playing golf with my Dad, or flying the airplane for fun.

My time horizon is 4 years in the car, paid and clear, then sell it after the term and upgrade to the F430 at that time. Then wait another 4-5 years and upgrade to a 458. It seems the cars need to be at least 10 years old to fall within my 'toy' car budget.

I'll check on the FML asking price index when I get back in front of a computer and let you know what I find, FWIW!

Thanks again gentlemen.
IDriveM5 is offline  
post #9 of 16 Old 11-29-2012, 09:43 PM
 
chenglo1's Avatar
 
Join Date: Jun 2012
Location: Midwest
Ferrari Life Posts: 531
idrivem5 and others.

i like this post. sorry cant contribute but am looking at the 430's.

champagne, i think i get it. "I'll wire you the funds right now for 10K off." i may use that line real soon! problem is my bank doesnt do wire txfrs...they simply will fund my checking acct when i call them that i cut the deal or they will overnight a certified check. Am i going to meet resistance?
chenglo1 is offline  
post #10 of 16 Old 11-30-2012, 05:18 AM Thread Starter
Owner
 
IDriveM5's Avatar
 
Join Date: Jun 2012
Location: Ohio
Ferrari Life Posts: 270
Quote:
Originally Posted by chenglo1 View Post
idrivem5 and others.

i like this post. sorry cant contribute but am looking at the 430's.

champagne, i think i get it. "I'll wire you the funds right now for 10K off." i may use that line real soon! problem is my bank doesnt do wire txfrs...they simply will fund my checking acct when i call them that i cut the deal or they will overnight a certified check. Am i going to meet resistance?
If I were a seller, I'd prefer the Cashier's Check drawn on a legitmate United States-based bank. If you seal the deal, then what's another 24-48 hours waiting for the overnight FEDEX and the funds to be deposited in the grand scheme of things?

On the other hand, I was watching "Fast 'N Loud" on Velocity Channel the other day. A classic car collector came to the garage owner with $100k in CASH/GREENBACKS, and was able to buy a car when the asking price was $125k. Something to think about......

Cash is King, right?
IDriveM5 is offline  
post #11 of 16 Old 11-30-2012, 07:14 AM
Owner
Elite Member
 
tazandjan's Avatar
 
Join Date: Aug 2011
Location: Albuquerque, NM
Ferrari Life Posts: 11,856
Cheng- Get a new bank. Any full service bank will send a wire.

Raj- The important point on depreciation is that it will be much less on an F430 Spider than on a new Mercedes, BMW, or Porsche.

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
tazandjan is online now  
post #12 of 16 Old 12-01-2012, 08:08 PM
Owner
 
Join Date: Sep 2012
Location: LA/Dubai
Ferrari Life Posts: 132
After getting sickened by depreciation with Porsche/Mercedes/BMW (one of my main reasons to going to F cars) I have been pleasantly surprised. Granted these brands aren't in the same price range, but buying cars at 100K and trading in 18 months later for 55-60K is absurd.

My most recent purchase was an 05 F430 F1 Spider Red/Tan with 12K miles. I paid 135K not including tax. Steal by any means.

I just went to an Audi dealership to look at the new R8s. I now have around 17,500 miles on the car. I was offered 122K for trade in. I continually see them with the same mileage going for 130-145K at dealerships and selling quickly. So even with the extra 5K miles the price really isn't effected.

I plan on keeping this vehicle till the end of 2013 and going to the 458 for a daily driver. I spoke with the dealership (two, both ferrari only) and they estimated 110K trade in or consignment at the same price I paid.

I see the 360 staying at 65-75K range depending on service records, and the F430 Spider F1 going no lower than 100K (non trade in but sale value) at the absolute lowest.

Other opinions on this?
PMCCHRIS is offline  
post #13 of 16 Old 12-01-2012, 08:21 PM
Owner
 
scotts's Avatar
 
Join Date: Nov 2010
Location: Winter Park, Florida
Ferrari Life Posts: 470
Quote:
Originally Posted by champagne612 View Post
I don't think there is a number.

Everyone should place a value on their time.

If you take 100 hours shopping at 100.00 per hr that's 10k - given your posts I assume you are at 100 hours.

Resale - If you take another 100 hours selling your car that's another 10k.

You just loss 20k.

A guy that buys a car at the dealer and drives it for 2 years and sells it back for 20k less is far ahead of the guy who places no value on his time.

Keep in mind that you are not only placing zero value on your time but the sellers too.

A real seller and a real buyer should take no longer than 72 hours - anything outside that is a waste of everyones time.

There were at least 15 people interested in my 612 - they were tire kickers and still ask is the car for sale.

I never went below 123k - until a real buyer made me an offer and was willing to wire the next day. I took off 10k and finished the deal.
Doug:
As they say in the south- Hate I heard that......
If I had known you'd go THAT low for that car.....My wife would be really made at me right now.
On reflection, it's better I didn't know.

But I think the fact that you are in CRE make you a real seller- you are selling your car as opposed to those trying to sell their car.You know the selling equivalent of tire kickers in reverse. They wait for the perfect buyer for a commodity that they are overpricing and hope for the right ( read stupid) buyer willing to part with their money. It's a funny thing how people are more attached to their money in a car or house as opposed to their money/and or time in other areas. Perhaps its because they feel attached to those things as a reflection of them... Dunno but we see it all the time.

I presume you value your time north of 100/hr. I know I do.



Scott

I have regretted often, but repented never. Is this a good thing? -Enzo Ferrari
2012 California Argento Nurburgring /Nero 2005 F430 Nero 6spd. 2009 Maserati GT-S F1
scotts is online now  
post #14 of 16 Old 12-01-2012, 08:25 PM
 
chenglo1's Avatar
 
Join Date: Jun 2012
Location: Midwest
Ferrari Life Posts: 531
PMchris

Chris,

when did you buy your F430? I still see dealers listing 430's with similar miles for 140's to 149K. Do they really expect to get their asking price? When a dealer is asking that much, i think it would initimidate some of us (ME) to offer much less i.e. 125-130K. Maybe i need to carry a 007 brief case with 125K cash inside and buy on the spot. hmmm...money talks. might consider it.

Cheng
chenglo1 is offline  
post #15 of 16 Old 12-01-2012, 08:39 PM
Owner
 
Join Date: Sep 2012
Location: LA/Dubai
Ferrari Life Posts: 132
Quote:
Originally Posted by chenglo1 View Post
Chris,

when did you buy your F430? I still see dealers listing 430's with similar miles for 140's to 149K. Do they really expect to get their asking price? When a dealer is asking that much, i think it would initimidate some of us (ME) to offer much less i.e. 125-130K. Maybe i need to carry a 007 brief case with 125K cash inside and buy on the spot. hmmm...money talks. might consider it.

Cheng

This one was purchased less than three months ago.


I bought my car at Symbolic Motors of San Diego. They are a fabulous dealership, I highly recommend them. I am having them try and find me another Ford GT (modern line). They are the nations highest volume Bugatti dealership of something of that sort so they don't offer junk for sale. I felt very confident purchasing from them. I rarely give glowing recommendations, but these guys earned it. They had it listed for 140 even, I said 135 just for the sake of negotiation And left with a new toy!

Jakes Motorcars in San Diego was also a fabulous dealership!

Buying from a dealership though sometimes has its perks, slightly higher price but toss in PPI price, sometimes free service package, and extended warranty!

Don't let it intimidate you at all! There is always a constant stream of these on the market. At least start visiting your local dealership and become a regular face! I put in offers on 3 F430s at Symbolic before them taking mine of the 05 and one at Jakes.

Jakes had a coupe with 30K miles, perfect condition though great service records listed at 119K, I offered 105 (coupe/high miles)... Math made sense to me, convertible +10-15K, mileage +5K if much lower...

2-3K more and they would have taken it. Don't low ball offer, be reasonable and you will eventually make a fantastic purchase! Leave the low ball offers for used BMWs!

Just got a used m6 for a friend, asking price of 70K got it for 39K.
PMCCHRIS is offline  
post #16 of 16 Old 12-17-2012, 06:17 PM
Owner
 
Join Date: Sep 2012
Location: LA/Dubai
Ferrari Life Posts: 132
Few more trade in numbers for you guys got this week looking at the F12 and Aventador out of curiosity...

2005 F430 F1 Spider
17,500 miles


Lambo dealer offers
115K
118K
121K

Ferrari Dealer Offers
120K
125K
140K ----IF I PAID CASH THOUGH FOR REMAINDER NO FINANCING ON F12----

F430, 458 Challenge, Ford GT, Gallardo, C63 Black,
PMCCHRIS is offline  
Reply

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome
Copyright 2012 ONE Media, Inc.
FerrariLife is independently run with no affiliation with Ferrari SpA
Ferrari for Sale | Maserati for Sale