Cost / Value of Ferrari Purchase - Ferrari Life
 
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post #1 of 8 Old 01-30-2013, 09:39 AM Thread Starter
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Cost / Value of Ferrari Purchase

I am sure others have utilized the function on Hagerty Insurance web site to view the current value of Ferraris based on their condition. I am not certain how accurate the data is, but it is at least one indicator that a potential buyer can utilize to gauge how much they should be paying when considering a purchase.

Currently Hagerty Insurance does not provide valuation for the F430, 599, 612, current v8's or current v12's.

Here is the link you can follow that you can use. (You may find that you have to register to use the tool ... not sure)

https://www.hagerty.com/valuationtoo.../VehicleSearch

I found this data, along with searches using Autotrader, Car.com, and various forums all contribute to gaining a perception of what I should be expecting to pay when I purchased my Ferrari 360 Modena in September 2012.

I am attaching a screen shot from Hagerty of a search for a 1996 F355 Berlinetta ... shows four price points corresponding to condition of vehicle (Concours, Excellent, Good, Fair). In this example, for a F355 in "Concours" condition, Hagerty puts a value of about $40,000. When I compare that value to Autotrader ... Hagerty is clearly lower. I expect the final value is what you are willing to pay.



Steve
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Last edited by bisel; 01-30-2013 at 11:17 AM.
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post #2 of 8 Old 01-30-2013, 09:43 AM
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Neat exercise, thanks for posting this link.
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post #3 of 8 Old 01-30-2013, 01:02 PM
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Hagarty's valutation tool graph shows the trend of the car values... newer cars reflect their depreciation, while the older cars show the value graph in an upswing showing appreciation. While their data is a compilation from several sources, it represents a reasonable starting point in what to expect when searching for a car
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post #4 of 8 Old 01-30-2013, 04:21 PM
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But do you think you can find a 355 for $31,658. I doubt it!
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post #5 of 8 Old 01-30-2013, 05:21 PM
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I've played with the Hagerty tool for a variety of cars I've owned or own currently. I can say that on some models they are pretty spot on and then on others you just scratch your head and wonder "WTF?". It's pretty clear that the valuation for the F355 is a mess. You couldn't get a wrecked F355 for $31k because there would still be more value in the parts on a salvaged car.
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post #6 of 8 Old 01-30-2013, 05:43 PM Thread Starter
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Quote:
Originally Posted by Sandy Eggo View Post
You couldn't get a wrecked F355 for $31k because there would still be more value in the parts on a salvaged car.
I agree with that. Hence the caveat that the true value is what people are willing to pay. But I sure would not pay high $$ for a F355 unless it was very pristine and had the major service very recently performed.
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post #7 of 8 Old 01-31-2013, 09:22 PM
 
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value

Steve,

I agree with your last line about "value is what you are willing to pay". Dealers and sellers can list their cars at whatever prices they want as long as there is a buyer who will pay that price. Sad to say for me and the dealer is that a couple of the cars that are #1 and #2 on my list, the dealers are not budging on price. I for one, would love to move inventory as quick as an F car can get from 0 to 60. So this leads me to ask perhaps a stupid question here, "why don;t the exotic car dealers (in this case Ferrari) do that? are they afraid there would not be enough inventory to turnover? For example, if the 2008 scud with 2K miles was priced at 160K vs 170K, it would have been sold like yesterday. Dealer then obtains another similar car and sells quick for lower price again. Am i missing something because i clearly must not understand sales in this price bracket. 10K off of a 170K car is not even 10% discount.

sorry if this is off topic.

Cheng
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post #8 of 8 Old 02-01-2013, 10:36 AM
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I'd bet that many owners actually owe money on their cars. Start with the seller needing to pay off a loan, add a dealer needing to make a profit, and there's probably little initial incentive to budge.

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