360 Depreciation bottom for 360 Spider - Ferrari Life
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 22 Old 04-24-2012, 07:02 PM Thread Starter
Owner
 
kimpearsonusa's Avatar
 
Join Date: Feb 2012
Location: Lake St. Louis
Ferrari Life Posts: 45
Depreciation bottom for 360 Spider

Does anyone know about where the Ferrari 360 Spider might bottom out on deprecation?

Trying to decide what year to get.
kimpearsonusa is offline  
Sponsored Links
Advertisement
 
post #2 of 22 Old 04-24-2012, 08:03 PM
Owner
 
Brian's Avatar
 
Join Date: Jul 2005
Location: Austin Texas
Ferrari Life Posts: 1,833
As they get older and a bigger proportion of the fleet is made up of high mileage and beat up cars the low end of the curve will be quite low. That is why you see such cheap TR's and Mondials. It will also depend on the economy.

All that said we are still a few years away from tapering off and absolute rock bottom is a long way off. They built a lot of them.

A price tag of the future is largely guesswork but it won't make current owners happy.

Last edited by Brian; 04-24-2012 at 11:51 PM.
Brian is offline  
post #3 of 22 Old 04-25-2012, 07:01 AM
Owner
 
Join Date: May 2010
Ferrari Life Posts: 3,323
I predict they'll settle just above the 355s.

To add on to Brain's comments, the spread between the top and bottom of the market will widen. My guess is the top of the market will settle about where the low end is right now ($60-70K).

One additional factor with the 360 model (amoung others) is the cost of restoring a low end car. With all the electrical and specialty parts, the economics of these cars will not be favorable. As with the 348s and 355s, buying a fully sorted one will be the only sensible approach.

Of all the narcissists I know, I love me the most.
Killer58 is online now  
 
post #4 of 22 Old 04-25-2012, 12:25 PM
Owner
 
Granucci's Avatar
 
Join Date: Jan 2007
Location: far and away
Ferrari Life Posts: 6,196
Quote:
Originally Posted by Killer58 View Post
I predict they'll settle just above the 355s.
that's a good guess but where is the bottom on the 355's? They are still dropping a bit.

Quote:
To add on to Brain's comments, the spread between the top and bottom of the market will widen. My guess is the top of the market will settle about where the low end is right now ($60-70K).

One additional factor with the 360 model (amoung others) is the cost of restoring a low end car. With all the electrical and specialty parts, the economics of these cars will not be favorable. As with the 348s and 355s, buying a fully sorted one will be the only sensible approach.
Yes, however, the 360 has a lot more going for it in terms of restoration vs the 348/355 series in terms of parts and parts availability. Seems to me, sorting a 360 down the road will be much easier than the older ones....but as you both say: with so many out there why bother with a poor one. There will be plenty to choose for the next 30 years. Will be a great car to pick up but not sure of it's classic ability down the road.

Not dissin' it, I would own one in a heart beat, but there are so many. It will be better to keep than some older ones, but not as much a head turner after awhile.

putting flame suite on.

Guide to the Galaxy: Don't Panic
Rik -- LAH !


Current:
Past:
1990 Mondial T Cabriolet SN 86247 : Red/Tan
1995 456 GT 2+2 SN 99987 : Roso Metalizzato [Fer 311/C] & Tan
Granucci is offline  
post #5 of 22 Old 04-25-2012, 12:37 PM
Owner
 
Brian's Avatar
 
Join Date: Jul 2005
Location: Austin Texas
Ferrari Life Posts: 1,833
Quote:
Originally Posted by Granucci View Post
that's a good guess but where is the bottom on the 355's? They are still dropping a bit.



Yes, however, the 360 has a lot more going for it in terms of restoration vs the 348/355 series in terms of parts and parts availability. Seems to me, sorting a 360 down the road will be much easier than the older ones....but as you both say: with so many out there why bother with a poor one. There will be plenty to choose for the next 30 years. Will be a great car to pick up but not sure of it's classic ability down the road.

Not dissin' it, I would own one in a heart beat, but there are so many. It will be better to keep than some older ones, but not as much a head turner after awhile.

putting flame suite on.


I question the sanity of restoration of any Ferrari with a vin higher than 18000 unless it was one of the few of which less than 1000 were made.

With over 16000 coupes and spiders built there will always be good ones available and just like every other standard model Ferrari ever built there will be no sense in buying a fixer upper. But there are alwys those that don't believe that is the road to a financial disaster.


As far as the true "Bottom"? There really isn't one. It will be like 308's. The bottom will be set by Ted Rutland in the amount of what he thinks he can cut it up and sell the parts for. Many plain Jane models are worth more cut up than as whole cars.
Brian is offline  
post #6 of 22 Old 04-25-2012, 01:05 PM
Owner
 
360 Modena's Avatar
 
Join Date: Sep 2009
Location: USA
Ferrari Life Posts: 4,516
Good-luck

I don't regret the premium I paid for my 360 many years ago

well worth the fun

Why wait? What's the personal value of driving one today versus saving a little bit of money in a few years? You are missing out waiting.
360 Modena is offline  
post #7 of 22 Old 04-25-2012, 01:22 PM
Owner
 
Brian's Avatar
 
Join Date: Jul 2005
Location: Austin Texas
Ferrari Life Posts: 1,833
Quote:
Originally Posted by 360 Modena View Post
Good-luck

I don't regret the premium I paid for my 360 many years ago

well worth the fun

Why wait? What's the personal value of driving one today versus saving a little bit of money in a few years? You are missing out waiting.


Exactly.

It's never going to pencil out as a smart economic decision.

Toys like Ferrari's are why we work so hard.
Brian is offline  
post #8 of 22 Old 04-25-2012, 01:39 PM
Owner
Elite Member
 
tazandjan's Avatar
 
Join Date: Aug 2011
Location: Albuquerque, NM
Ferrari Life Posts: 11,859
Kim- They built around 17,000 of them and they are used cars. Used cars depreciate. Buy a good one now and maintain it impeccably and it will depreciate way less than a new car of just about any make.

It took 40 years for the C2 Corvettes to go through the roof. With 13 years gone on the earliest 360s, that would be 27 more years to wait if the 360 follows a similar trend.

Like 360 said, why miss out on all the fun now when you could be driving one soon?

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 offline  
post #9 of 22 Old 04-25-2012, 01:53 PM
Owner
 
Join Date: Apr 2012
Location: Houston, TX
Ferrari Life Posts: 32
I just bought a 355 that needs a little work. I plan to get it in good enough shape to drive it and enjoy. Like Brian says these cars are not classics to restore. I don't see it becoming a classic in a timeframe that makes a difference to me. In fact I think there's more of a chance that these cars will be illegal to drive someday. That would tank the market quick. I pretty much count on losing every cent I put into it.
JgriffJa is offline  
post #10 of 22 Old 04-25-2012, 02:07 PM
Owner
 
lucca brazzi's Avatar
 
Join Date: Jun 2011
Ferrari Life Posts: 862
/328/360/Testa

i was just on ebay checking out 328 s that are up for auction, i saw two that had about 6,000 miles on them (65k to 69k !), along with some others with what i would consider low mileage , they were very nicely kept examples, i was suprised that there are still some very well kept low mileage 328 s around . I would expect that there will be a lot more 360 s in excellent shape with low mileage that will come up for sale with premium prices , as the years pass, seeing that there were so many more produced . Im not familiar with the issues that come up for repair with the 360 s , referring to what the fellow said about the more elaborate electronics that come with the car,im sure they are even more expensive to fix then the 355 s .

Last edited by lucca brazzi; 04-25-2012 at 02:25 PM.
lucca brazzi is offline  
post #11 of 22 Old 04-25-2012, 02:55 PM
Owner
 
Granucci's Avatar
 
Join Date: Jan 2007
Location: far and away
Ferrari Life Posts: 6,196
Quote:
Originally Posted by JgriffJa View Post
I just bought a 355 that needs a little work. I plan to get it in good enough shape to drive it and enjoy. Like Brian says these cars are not classics to restore. I don't see it becoming a classic in a timeframe that makes a difference to me. In fact I think there's more of a chance that these cars will be illegal to drive someday. That would tank the market quick. I pretty much count on losing every cent I put into it.

welcome JG'a. I sort of agree we'll be those nifty cars in parades someday but in front of the Model T's I'm hoping.

Guide to the Galaxy: Don't Panic
Rik -- LAH !


Current:
Past:
1990 Mondial T Cabriolet SN 86247 : Red/Tan
1995 456 GT 2+2 SN 99987 : Roso Metalizzato [Fer 311/C] & Tan
Granucci is offline  
post #12 of 22 Old 04-25-2012, 03:50 PM
Owner
 
Brian's Avatar
 
Join Date: Jul 2005
Location: Austin Texas
Ferrari Life Posts: 1,833
Quote:
Originally Posted by lucca brazzi View Post
Im not familiar with the issues that come up for repair with the 360 s , referring to what the fellow said about the more elaborate electronics that come with the car,im sure they are even more expensive to fix then the 355 s .

The electronics are actually pretty simple especially compared to any car built since. Not only that but with the exception of F1 related components it is all used by far more common cars. Also there are many companies offering repair services and since they are main stream stuff getting it fixed is not a big deal.


A 355 always has been and will continue to be more costly.
Brian is offline  
post #13 of 22 Old 04-25-2012, 03:57 PM
Owner
 
champagne612's Avatar
 
Join Date: Sep 2010
Location: St Louis
Ferrari Life Posts: 10,022
Quote:
Originally Posted by kimpearsonusa View Post
Does anyone know about where the Ferrari 360 Spider might bottom out on deprecation?

Trying to decide what year to get.
Kim

Any luck on the sale of the 328?

EMM had a nice Blue / Blue 360 well spec'd.

BTW- nice to meet you the other day any chance you are going on the FCA run Sunday?

If you aren't a member feel free to come along as my guest.
champagne612 is offline  
post #14 of 22 Old 04-25-2012, 05:06 PM
Owner
 
Sandy Eggo's Avatar
 
Join Date: Mar 2010
Location: Encinitas, CA
Ferrari Life Posts: 573
Quote:
Originally Posted by Brian View Post
A 355 always has been and will continue to be more costly.
True and worth every penny IMHO. Timeless design, unbelievable sound and plenty of grunt to make it scoot when you stomp on it. It's the stuff Ferrari dreams are made of (and the repair bills are the Ferrari nightmares your friends warned you about).
Sandy Eggo is offline  
post #15 of 22 Old 04-25-2012, 07:43 PM Thread Starter
Owner
 
kimpearsonusa's Avatar
 
Join Date: Feb 2012
Location: Lake St. Louis
Ferrari Life Posts: 45
Thanks for the advice / opinions! I was hoping to get into a 360 down near the bottom of the depreciation curve, but I understand that is not a realistic expectation. Drove another Spider in PHX yesterday and now I am sure that is the car for me.

I like tinkering and am pretty mechanically inclined with most tools and a good place to work so I can soften some of the maintenance bills.

Now I just need to hurry up and sell my 328-GTS to fund the hunt!

Hey Bert yes I will be at the FCA drive on Sunday. Think my wife is even going to come. We'll see you at 11:00

Kim
kimpearsonusa is offline  
post #16 of 22 Old 04-25-2012, 07:47 PM
Owner
 
champagne612's Avatar
 
Join Date: Sep 2010
Location: St Louis
Ferrari Life Posts: 10,022
Quote:
Originally Posted by kimpearsonusa View Post
Thanks for the advice / opinions! I was hoping to get into a 360 down near the bottom of the depreciation curve, but I understand that is not a realistic expectation. Drove another Spider in PHX yesterday and now I am sure that is the car for me.

I like tinkering and am pretty mechanically inclined with most tools and a good place to work so I can soften some of the maintenance bills.

Now I just need to hurry up and sell my 328-GTS to fund the hunt!

Hey Bert yes I will be at the FCA drive on Sunday. Think my wife is even going to come. We'll see you at 11:00

Kim
LOL who is Bert - I mean it's not like you fly planes or anything!!!
champagne612 is offline  
post #17 of 22 Old 04-25-2012, 07:58 PM Thread Starter
Owner
 
kimpearsonusa's Avatar
 
Join Date: Feb 2012
Location: Lake St. Louis
Ferrari Life Posts: 45
Can you say fast fingers and week eyes? Got to the hotel an hour ago after slaving over hot throttles ALL DAY!

Must be time for bed. See you Sunday!

Kim
kimpearsonusa is offline  
post #18 of 22 Old 04-25-2012, 08:48 PM
Owner
 
lucca brazzi's Avatar
 
Join Date: Jun 2011
Ferrari Life Posts: 862
Quote:
Originally Posted by Brian View Post
The electronics are actually pretty simple especially compared to any car built since. Not only that but with the exception of F1 related components it is all used by far more common cars. Also there are many companies offering repair services and since they are main stream stuff getting it fixed is not a big deal.


A 355 always has been and will continue to be more costly.
thx Brian,,good info,,,as always,Sir..
lucca brazzi is offline  
post #19 of 22 Old 04-25-2012, 09:19 PM
Owner
 
Brian's Avatar
 
Join Date: Jul 2005
Location: Austin Texas
Ferrari Life Posts: 1,833
Quote:
Originally Posted by kimpearsonusa View Post
Thanks for the advice / opinions! I was hoping to get into a 360 down near the bottom of the depreciation curve, but I understand that is not a realistic expectation. Drove another Spider in PHX yesterday and now I am sure that is the car for me.

I like tinkering and am pretty mechanically inclined with most tools and a good place to work so I can soften some of the maintenance bills.

Now I just need to hurry up and sell my 328-GTS to fund the hunt!

Hey Bert yes I will be at the FCA drive on Sunday. Think my wife is even going to come. We'll see you at 11:00

Kim


If there is any way possible keep the 328. I promise you will miss it. I love both the 328 and the 360 but if I was forced to choose one, it's the one you already have.
Brian is offline  
post #20 of 22 Old 04-25-2012, 10:54 PM
Owner
 
Join Date: Apr 2012
Location: Santa Barbara, CA.
Ferrari Life Posts: 199
Some 360's are already near the bottom of the depreciation, like mine with over 50,000 miles on it, its a pretty cheap car and still has the looks and sounds. I expect when most of you are breaking 10,000 miles, I will be at 100,000. Which just goes to prove there will be always be great 360's out there in our lifetimes.
mikeyr 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