Is a price correction coming for the F355's
Discussion
12 months ago you could buy a red Berlinetta or GTS manual with low miles for approx £40k, now they are £60/70k and the ones on the market at this price are not selling, I know this because I want to buy and I won't at that sort of money, I hope the price will correct itself in the New Year and level off at still very healthy percentage increase over this last 12 months, wishful thinking or not???
dvb247 said:
12 months ago you could buy a red Berlinetta or GTS manual with low miles for approx £40k, now they are £60/70k and the ones on the market at this price are not selling, I know this because I want to buy and I won't at that sort of money, I hope the price will correct itself in the New Year and level off at still very healthy percentage increase over this last 12 months, wishful thinking or not???
Where did you see them at 40k?12 months ago nice ones were already over 50k!
dvb247 said:
12 months ago you could buy a red Berlinetta or GTS manual with low miles for approx £40k, now they are £60/70k and the ones on the market at this price are not selling, I know this because I want to buy and I won't at that sort of money, I hope the price will correct itself in the New Year and level off at still very healthy percentage increase over this last 12 months, wishful thinking or not???
"wishful thinking" - Unfortunately yes... 355's are a great car and now well sought after. They'll continue to rise in the current climate.
Anything that is desirable, is mildly limited in supply and is sold by people with a vested interest will continue to go up (think classic cars and property). Until the world returns to the old norm with regards to money supply and the cost of money, theyre only going one way.
Personally, I don't see anything changing anytime soon with the money supply and with people thinking these assets are no-lose investment and being sold as such, they won't be coming down. I read a very well respected dealer saying something along the lines of "it doesnt matter what a car cost, someone is always willing to pay more". Greater fool theory, iirc.
Anything that is desirable, is mildly limited in supply and is sold by people with a vested interest will continue to go up (think classic cars and property). Until the world returns to the old norm with regards to money supply and the cost of money, theyre only going one way.
Personally, I don't see anything changing anytime soon with the money supply and with people thinking these assets are no-lose investment and being sold as such, they won't be coming down. I read a very well respected dealer saying something along the lines of "it doesnt matter what a car cost, someone is always willing to pay more". Greater fool theory, iirc.
Not sure what sort of 355 was going for £40K a year ago!! I purchased mine 30 months ago and a decent one in those days was nearer £50k than £40k.
I think the 355 will hold its value well although I do think the current rate of rise in value is not sustainable. IMO they will hold well long term.
I think the 355 will hold its value well although I do think the current rate of rise in value is not sustainable. IMO they will hold well long term.
Yep price correction upwards IMHO. Bought my manual GTS with Capristo as my first Ferrari back in 2005 for £50k bottomed out at £40k in 2008 and been going up ever since and will continue to do so IMHO. You try finding a low mileage FFSH, immaculate manual GTS 
No amount of money will make me part company with it
No amount of money will make me part company with it
Why should one particular model in the range slow in relation to others? Everything remotely desirable appears to be making an inexorable move in one direction. Perhaps they will slow ultimately but probably along with everything else. And let's be honest, they're wonderful cars-the perfect blend of old and new.
Edited by priley on Thursday 18th December 11:54
"after 30 months of ownership, what are your thought's toward the 355? is it still special to you?"
The 355 is a very special car and in my view one of the prettiest F cars made. I searched for my spider for 2 years and eventually purchased from a main dealer (14,000 miles, FFSH etc etc). I don't get to drive it very often but when I do it is a very special occasion - I am an ex military pilot and I get a similar buzz from the 355 as I used to get from flying an aircraft!
I have been pleasantly surprised (so far!!)on the running costs too - just had the cam belts changed and full service which was very reasonable from my local main dealer (who was prepared to match any independent quote for the work). So far, it is not costing me much more per annum than my old 308 GTS. Having said that, it is always worth having a contingency fund in mind for those unforeseen expenses which can be part of the F car ownership experience.
If you want one I suspect now wouldn't be a bad time as I could see them going up again next spring - not seeing a major correction on the horizon and the days of decent 355's ever being less than £55-60K are gone.
The 355 is a very special car and in my view one of the prettiest F cars made. I searched for my spider for 2 years and eventually purchased from a main dealer (14,000 miles, FFSH etc etc). I don't get to drive it very often but when I do it is a very special occasion - I am an ex military pilot and I get a similar buzz from the 355 as I used to get from flying an aircraft!
I have been pleasantly surprised (so far!!)on the running costs too - just had the cam belts changed and full service which was very reasonable from my local main dealer (who was prepared to match any independent quote for the work). So far, it is not costing me much more per annum than my old 308 GTS. Having said that, it is always worth having a contingency fund in mind for those unforeseen expenses which can be part of the F car ownership experience.
If you want one I suspect now wouldn't be a bad time as I could see them going up again next spring - not seeing a major correction on the horizon and the days of decent 355's ever being less than £55-60K are gone.
I owned my RHD 355 for 2.5 years and it felt as special the last day as it was on the first and loved every one of the 20k miles. Would have never sold it, had circumstances been different (sold for 27k). Don't think prices will come down by much in the future - last really pretty Ferrari.
Having said that, I would buy a car from the continent - better driving position and ultimately I think LHD/RHD pricing gap will narrow.
Having said that, I would buy a car from the continent - better driving position and ultimately I think LHD/RHD pricing gap will narrow.
MDahmen said:
I owned my RHD 355 for 2.5 years and it felt as special the last day as it was on the first and loved every one of the 20k miles. Would have never sold it, had circumstances been different (sold for 27k). Don't think prices will come down by much in the future - last really pretty Ferrari.
Having said that, I would buy a car from the continent - better driving position and ultimately I think LHD/RHD pricing gap will narrow.
"20k miles in 2.5 years" Having said that, I would buy a car from the continent - better driving position and ultimately I think LHD/RHD pricing gap will narrow.
andrew said:
MDahmen said:
I owned my RHD 355 for 2.5 years and it felt as special the last day as it was on the first and loved every one of the 20k miles. Would have never sold it, had circumstances been different (sold for 27k). Don't think prices will come down by much in the future - last really pretty Ferrari.
Having said that, I would buy a car from the continent - better driving position and ultimately I think LHD/RHD pricing gap will narrow.
"20k miles in 2.5 years" Having said that, I would buy a car from the continent - better driving position and ultimately I think LHD/RHD pricing gap will narrow.
used as my only car. It even saw snow a few times - good fun and very forgiving even for people with limited skills such as me.
dvb247
I Have owned my 1998 manual F355 Berlinetta for over 6 years now and still get the same thrill driving it now as I did the very first day.
It feels like a special event every time it is taken out and a pleasure to drive.
Like many owners of these cars mine is cherished and serviced annually regardless of how little mileage I might do that year, the engine is removed every 3 years for cam belt services so that the chassis and sub frame can be inspected and all areas cleaned. This also gives much better access to service the engine.
I think the more these cars are being appreciated as a modern classic and the value increasing accordingly, the more reluctant owners are to part with them and therefore fewer on the market for sale.
Unfortunately that is where potential buyers like yourself may have to pay a large premium to get the one you want, low mileage models with a fully documented service history are going to be very sought after and will always command a premium.
I put a few pics of mine "in the appreciation of the 355" thread.
I would say the 355 is not a cheap car to maintain, well not if your going to keep on top of everything to keep it in excellent mechanical order, annual servicing, 3 year cam belt services etc.
Worth having a full independent inspection carried out and check for manifold cracks, or if replacements have been fitted, fully documented service history with supporting invoices, MOT certs etc, (not meaning to teach granny to suck eggs)
They are a lovely car to drive and sound amazing (Tubi fitted to mine) and still one of the best looking and sounding V8 Ferrari's.
Good luck with your search and like others have said, I don't think there will be a downward price correction anytime soon so get one while you can, you won't regret it.
Charlie
I Have owned my 1998 manual F355 Berlinetta for over 6 years now and still get the same thrill driving it now as I did the very first day.
It feels like a special event every time it is taken out and a pleasure to drive.
Like many owners of these cars mine is cherished and serviced annually regardless of how little mileage I might do that year, the engine is removed every 3 years for cam belt services so that the chassis and sub frame can be inspected and all areas cleaned. This also gives much better access to service the engine.
I think the more these cars are being appreciated as a modern classic and the value increasing accordingly, the more reluctant owners are to part with them and therefore fewer on the market for sale.
Unfortunately that is where potential buyers like yourself may have to pay a large premium to get the one you want, low mileage models with a fully documented service history are going to be very sought after and will always command a premium.
I put a few pics of mine "in the appreciation of the 355" thread.
I would say the 355 is not a cheap car to maintain, well not if your going to keep on top of everything to keep it in excellent mechanical order, annual servicing, 3 year cam belt services etc.
Worth having a full independent inspection carried out and check for manifold cracks, or if replacements have been fitted, fully documented service history with supporting invoices, MOT certs etc, (not meaning to teach granny to suck eggs)
They are a lovely car to drive and sound amazing (Tubi fitted to mine) and still one of the best looking and sounding V8 Ferrari's.
Good luck with your search and like others have said, I don't think there will be a downward price correction anytime soon so get one while you can, you won't regret it.
Charlie
I've lost out by an hour the GTS 1998 from Tom Hartley Motors today, I think I may never actually own one now, Slades Motors have the very same spec GTS but they want a huge £10k more which I just can't swallow, feeling exacerbated, my destiny must not be red, very happy for the guy that purchased it though, lucky man indeed.
just to add to my previous post - don't understand the obsession with low mileage - just buy on condition / one that has been serviced properly, many low mileage cars are probably clocked anyway.
My speedo stopped working for about 20-30 miles on the highway one time and then started working again - I assume it is just a sensor somewhere that can easily be disconnected/malfunction. Would not surprise me if some got disconnected for the annual Europe/Scotland/et al trip to keep the car low mileage...
My speedo stopped working for about 20-30 miles on the highway one time and then started working again - I assume it is just a sensor somewhere that can easily be disconnected/malfunction. Would not surprise me if some got disconnected for the annual Europe/Scotland/et al trip to keep the car low mileage...
I would have to agree with CGF993. I bought my TdF GTS back in '09, I think, which was a private sale but sourced and inspected by Mike Rardley at Radley Ferrari. It had FFSH and I agonised about maintaining this on a 10 year old car as values seemed to be going south. Like JW01, I was a military pilot until recently thus money was a consideration. They are not cheap cars to maintain but not crippling either if you source parts intelligently.
However I was persuaded by Carrs in Exeter to take it to them as they would match any indie price. It still goes there and I'm glad I have continued with them, not that I intend to sell. Generally the annual has come in well below £1000 but the 3 yearly belts is the big one and echoing CGF993 comments, it is worth doing it engine out as it has allowed me to do the ancillaries properly and a good look around. For example a couple of years ago it also had both radiators, manifolds, clutch etc. Ouch. All to be expected and known issues. But recoring radiators, better and after-market manifolds, Hill Engineering items etc can save significant amounts of money.
Annually, I always get a wobble about selling but a quick drive out soon cures that. Sounds fantastic on a Tubi and one of the last classsically good looking Ferraris. I would also struggle to think of what to replace it with. The only worry would be if they got too expensive and I'd then may get too nervous to use it. It goes to work, the supermarket car park as well as a campsite at Goodwood and Le Mans. I've always thought that the mileage thing is a red herring. I drove some truly terrible low mileage examples. They need regular use.
Will they appreciate - relatively simple to maintain, useable performance on public roads, classic looks and sound. Yes they will but hopefully not too much so they end up in collections not on the road.
However I was persuaded by Carrs in Exeter to take it to them as they would match any indie price. It still goes there and I'm glad I have continued with them, not that I intend to sell. Generally the annual has come in well below £1000 but the 3 yearly belts is the big one and echoing CGF993 comments, it is worth doing it engine out as it has allowed me to do the ancillaries properly and a good look around. For example a couple of years ago it also had both radiators, manifolds, clutch etc. Ouch. All to be expected and known issues. But recoring radiators, better and after-market manifolds, Hill Engineering items etc can save significant amounts of money.
Annually, I always get a wobble about selling but a quick drive out soon cures that. Sounds fantastic on a Tubi and one of the last classsically good looking Ferraris. I would also struggle to think of what to replace it with. The only worry would be if they got too expensive and I'd then may get too nervous to use it. It goes to work, the supermarket car park as well as a campsite at Goodwood and Le Mans. I've always thought that the mileage thing is a red herring. I drove some truly terrible low mileage examples. They need regular use.
Will they appreciate - relatively simple to maintain, useable performance on public roads, classic looks and sound. Yes they will but hopefully not too much so they end up in collections not on the road.
dvb247
google fletchdale cars, and ask to speak to luke
I sold my 1994 pre airbag , red with black interior manual 355 gtb outright to luke 9 days ago
again , this was a totally outright sale , and not SOR, and I have absolutely nothing to gain from writing this post other than to hope that my cherished 355 goes to a good home preferably in the uk
I just did not have the time to sell the car privately , and I got an amazing service from luke , and would suspect that any fletchdale client would get the same
my car was exercised regularly , but sparingly, and well treated throughout my 9 years of ownership.
it was not clocked
when I was looking in 2006, all the cars seemed to have done 20,000 miles , and now 9 years later , many of the advertised cars still seem to have done 20,000 miles !!!
355's are not cheap to maintain properly , so go in with your eyes open, but they are decent cars, and are the only F cars I really desire/desired other than the 512 tr and the 458
my last drive in my 355 was truly memorable---but like with any other car, you need that essential prerequisite of a clear , decently surfaced road
my only gripe with my 355 , was that I felt that the steering was overlight, but I know that this is true of all 355's ( and to be expected when all your toy cars have non assisted steering)
the steering does weight up with high revs, though not as much as I would ideally like
I would not have sold this car had I not needed the garage space and the funds that this sale liberated
best of luck with your search
google fletchdale cars, and ask to speak to luke
I sold my 1994 pre airbag , red with black interior manual 355 gtb outright to luke 9 days ago
again , this was a totally outright sale , and not SOR, and I have absolutely nothing to gain from writing this post other than to hope that my cherished 355 goes to a good home preferably in the uk
I just did not have the time to sell the car privately , and I got an amazing service from luke , and would suspect that any fletchdale client would get the same
my car was exercised regularly , but sparingly, and well treated throughout my 9 years of ownership.
it was not clocked
when I was looking in 2006, all the cars seemed to have done 20,000 miles , and now 9 years later , many of the advertised cars still seem to have done 20,000 miles !!!
355's are not cheap to maintain properly , so go in with your eyes open, but they are decent cars, and are the only F cars I really desire/desired other than the 512 tr and the 458
my last drive in my 355 was truly memorable---but like with any other car, you need that essential prerequisite of a clear , decently surfaced road
my only gripe with my 355 , was that I felt that the steering was overlight, but I know that this is true of all 355's ( and to be expected when all your toy cars have non assisted steering)
the steering does weight up with high revs, though not as much as I would ideally like
I would not have sold this car had I not needed the garage space and the funds that this sale liberated
best of luck with your search
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