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Discussion Starter #1
I regularly check V8 prices from 308's to 360's on the UK independent's and private sales websites. Prior to Christmas there was very little downward movement on 308's and 328's. 355's had fallen by about 10% with £30K GBP seeming to be the lowest prices in the last 12 months and 360's were still falling with a bottom line of late £30K's.
However, in the last 2 weeks I've noticed F430's in the £70K bracket and 360's are falling quicker, one example is a very low mileage 2001 360 Spider in the mid £40K's at a dealer. 355's have moved downwards too.
But 308's and 328's seem to be where they have been for several years.
I appreciate that what a car is advertised for and what it sells for can be completely different. I also understand why newer cars prices are still falling, but I can't understand why 328's in particular are still rock solid at early £30K's for a good condition low mileage example.
Incidentally, I think my old 328 is back on the market. I was hoping that prices would crash since I sold it and that I could buy it back for less than I sold it for, but I don't think that is going to happen yet.
 

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Prices on everything are falling! Have you seen California real estate?

When demand drops so do prices and now that $ is not as easily available for purchases car prices are down.

Go buy back your 328!
 

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Absolutely, Archie.

A lot of the earlier V8's (from F355 down) were bought by people who really have to work hard to keep their baby and in times like these there's more coming onto the market than are being bought.

As for the newer Ferraris - a lot of them are bought for the "look-at-me-I'm-succesful-crowd". To show off their position in the pecking order, a lot of these vehicles are financed. When times get tough, suddenly a service of $5k/GBP3k becomes a problem and this, to me, is one of the reasons that they are let go. We also have to remember that a lot of these vehicles come from the London area where a lot of people lost their jobs. So, no, it does not surprise me at all and is in fact exactly what I was expecting.

But don't forget - all Ferraris are suffering at the moment. The Gooding auction of Saturday made that clear. A nice 512BB for $90k - in the US that is unheard of in the last couple of years. A 275GTS didn't get a higher bid than $340k - about $200k less than the going rate last year.

This crisis is deep, and a lot of people are feeling it.


Onno



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Discussion Starter #4
I agree with all of your comments and I understand the reasons why F prices are falling. I'm not sure if I made my point about 328's clear though, what I meant to say was, if all other V8 prices are falling why aren't 328s and 308s falling at the same rate. Have they finally bottomed out?
There are approx 20 328's for sale at UK dealers, Nick cartwright alone has 7 for sale and the Ferrari Centre have about half a dozen, but the prices for ABS modelled cars are still in the early to mid 30's and haven't fallen at all.

If I could pick my old car up for £25K I'd jump at the chance, but I reckon it will have a sticker price of £33K or £34K. Not just saying it beacuse it was my car, but it really was immaculate and would have been a serious contender for a concours winner if I could have been bothered to enter it. Hopefully anyone who saw it will confirm (Marlin, Al, T1f or Jonathan).
 

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The earlier models are being held onto and since good ones are few in numbers it makes all the early ones more valuable.

This is why I am after a nice 308 GT4.
 

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I agree with all of your comments and I understand the reasons why F prices are falling. I'm not sure if I made my point about 328's clear though, what I meant to say was, if all other V8 prices are falling why aren't 328s and 308s falling at the same rate. Have they finally bottomed out?
There are approx 20 328's for sale at UK dealers, Nick cartwright alone has 7 for sale and the Ferrari Centre have about half a dozen, but the prices for ABS modelled cars are still in the early to mid 30's and haven't fallen at all.
I too have noticed the lack of significant price movement in the 328 market, however that seems to be only at the specialist dealers i.e Nick Cartwright and Ferraricentre. There are a few 'independent' 328s in the market (mostly non-ABS) and tbh they don't look fantastic, but I am sure if the offer was made a car could be bought for considerably less than the asking (the cheapest is a non-ABS, no history asking GBP 15k). If I am honest I don't think the ones at FerrariCentre look like they are worth the asking price.

Re why the prices for 328s haven't moved much? I would say a combination of two things. Firstly the cars in the market have been in the market for quite some time and it is likely that this stock was bought in when times were good so the dealers cannot afford to drop prices without losing significant amounts which they are obviously not prepared to do (at the present time). Secondly the dealers are probably hoping that the lack of availability of good 328s will allow them to maintain the higher price for their stock. However this speculation could be tested by making an offer! What we need to see are more 328s coming to market!

As with Onno & Gcalo, I also think that the reason we are not seeing more 328s in the market is because most owners do not need to sell, which is clearly not the case to some degree with the 355 and with the 360 and the 430.

Archie, your car was in fantastic condition! at GBP25k that would be a song!

In the UK 360 Modenas are going as low as £33,000. The 355s spiders are now worth more:thumbsup: You can even pick up lambourghini Gallardos for 50K now.
It will all work its self out:thumbsup:
You are absolutely right Chaz! Interestingly mostly in Silver!?! but, the $1m question is when?

Actually whilst out and about this evening I saw an Argento 360, a Rosso 430 Spider and a TDF Blu 355 GTB (also a Blu 599 - Swiss) and I have to say the best looking out of all 3 was the 355 - it looked lower and meaner than the other two.


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not only V8's

Not only V8's, there is a Enzo for sale where i live for USD850,000.00 brand new costed USD1.4 million, a friend of my just sold his 2007 Porsche 911 turbo for less than USD190,000.00 costed him USD333,000 brand new, this morning there was a 2000 F360 f1 in the paper for around USD120,000.00. looks like the second half of this year is going to be pretty bad!
 

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360's were still falling with a bottom line of late £30K's. However, in the last 2 weeks I've noticed F430's in the £70K bracket and 360's are falling quicker
In the UK 360 Modenas are going as low as £33,000.
Not to be silly when I say this but the U.K is lucky that this is what V8 Ferrari's are going for if you are in the market for buying. Here in South Africa cars are very expensive. Fair enough the market is also a lot smaller compared to Europe but lets take the 360 Modena, in the U.K it's about £33,000 which for us in South African Rands is R479 490.00 to be exact at todays exhange rate but here they are selling for between R1.6 to R1.8million
For R479K here that gets you a Audi A4, BMW 3 Series or a Mercedes C-Class etc.

The F430 - £70K which is just over R1million but in S.A your paying between R2.8 to R3million.

A beautiful '89 328GTS with 59 000Kms just sold at the S.A Ferrari agent for R650K which is about £45K.
 
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