360 Spider Prices etc
Discussion
Hi All go easy please. I have a few spare pounds available enough to buy a 360 spider (I am mid way through building an Ultima GTR) but wanted to see if doing 50k on a 360 would turn into 60 after 3-4 years? They seem to be holding value well unless the prices advertised are not being reached etc
You'll only lose your shirt if you buy a car today thinking it's dead cert investment grade. And certainly not a 360 Spider. You buy silly cars to have fun, not make or protect money. Btw, make sure you test drive a 360 Spider over a long run. I had a 360 Spider F1 in 2002. Bought it new, had it specced in Rolls Royce Peacock Blue. Put challenge wheels on it. Damn pretty car but below 25,000 rpm it was gutless. A tractor had better mid range in-gear pick up.
Prices could go up or down. Don't buy a car feeling that I won't loose any money, but I am sure that is not your thinking. In my opinion a 360 or 430 in my case is not going to depreciate like a new car. Their curves are at best flattening. There will always be a demand for a second hand Ferrari. However, the maintenance cost is going to be higher than a new car.
I don't know jack about Ferrari prices but I do have a theory...
As time progresses, the newer cars come out that are that much more expensive and seem so much better, that the old cars become less about their ability in comparison to the newer ones and people concentrate on their looks and desirability rather than speed/handling/latest tech and also no more Manuals will be made.
Furthermore 348's,328's and 355's are pushing up.
Put it all together and a clean 360 Spider can only go one way it's just a question of when.
In a couple of years I'm going to put my money where my mouth is.
As time progresses, the newer cars come out that are that much more expensive and seem so much better, that the old cars become less about their ability in comparison to the newer ones and people concentrate on their looks and desirability rather than speed/handling/latest tech and also no more Manuals will be made.
Furthermore 348's,328's and 355's are pushing up.
Put it all together and a clean 360 Spider can only go one way it's just a question of when.
In a couple of years I'm going to put my money where my mouth is.
Hi
I hope i'm not hijacking the topic but 360 spiders appear to be really hard to find! I've seen this one which on the face of it seems to look ok but I'm a bit concerned about not using one of the usual suspects. What do people think ? http://www.elmscollection.com/view.php?id=12011511...
I hope i'm not hijacking the topic but 360 spiders appear to be really hard to find! I've seen this one which on the face of it seems to look ok but I'm a bit concerned about not using one of the usual suspects. What do people think ? http://www.elmscollection.com/view.php?id=12011511...
italyciccia76 said:
Hi
I hope i'm not hijacking the topic but 360 spiders appear to be really hard to find! I've seen this one which on the face of it seems to look ok but I'm a bit concerned about not using one of the usual suspects. What do people think ? http://www.elmscollection.com/view.php?id=12011511...
I think if you are looking for someone very reputable to buy a car from, then Dion would be high up in everyone's list of "the usual suspects" I hope i'm not hijacking the topic but 360 spiders appear to be really hard to find! I've seen this one which on the face of it seems to look ok but I'm a bit concerned about not using one of the usual suspects. What do people think ? http://www.elmscollection.com/view.php?id=12011511...
360 prices have already started to rise it is just a question how far they will go, they are worth 10k more today than 12 months ago. I believe I have missed the boat with this model as I only have a very modest budget to spend on a second car circa 45k, I am now in 348 territory these days but not much quality out there, what will they be worth in another year?
Hmmm. I hope asset prices continue to rise, but post QE, once bond yields start to rise, we may well see reversals. Who knows what will happen, but PLEASE don't buy one on the assumption that prices will only go one way (unless you can afford to take big losses), because all markets go up and down and no-one can predict when the turning point comes. The whole fine art/classic car etc market feels horribly like1997/1998 to me, but hopefully I am wrong, given that I have a (currently valuable) Ferrari!
Pommygranite said:
I don't know jack about Ferrari prices but I do have a theory...
As time progresses, the newer cars come out that are that much more expensive and seem so much better, that the old cars become less about their ability in comparison to the newer ones and people concentrate on their looks and desirability rather than speed/handling/latest tech and also no more Manuals will be made.
Furthermore 348's,328's and 355's are pushing up.
The main thig is that those cars were less 'mass produced' than the 360, so there is the possibility that they wont follow the same trend. Supply and demand and all that. I think from the 360 onwards, prices will fail to see the rises that the older cars see. Especially the 430 and 458. At the Ferrari Racing Days track parade back in September, all I could see were 430's and 458's. As time progresses, the newer cars come out that are that much more expensive and seem so much better, that the old cars become less about their ability in comparison to the newer ones and people concentrate on their looks and desirability rather than speed/handling/latest tech and also no more Manuals will be made.
Furthermore 348's,328's and 355's are pushing up.
Still, this is a good thing, as I'd love a 458, so hopefully one day they'll have depreciated enough that they'll be worth the same as a 355 or 308 GTB, then I can swap one of my current cars for one.
keith jecks said:
Hmmm. I hope asset prices continue to rise, but post QE, once bond yields start to rise, we may well see reversals. Who knows what will happen, but PLEASE don't buy one on the assumption that prices will only go one way (unless you can afford to take big losses), because all markets go up and down and no-one can predict when the turning point comes. The whole fine art/classic car etc market feels horribly like1997/1998 to me, but hopefully I am wrong, given that I have a (currently valuable) Ferrari!
Spot on, although the 360 has risen the least (excluding later models) and therefore I'd say it has less far to fall should there be a turnaround in values. Perhaps the 360 creep in price (realistic values not dealer's asking prices) is a little more sustainable than the models that have risen between 50-200%.I hope so!
Just picked my 360 spider up from body shop , had a little corrosion bubbling sorted, and had the car detailed, whilst collecting it a customer said what a great looking car, when I told him it cost less than many a four wheel drive, or luxury new car to buy he was amazed.
His comments and observations tell all that is needed as to why not just these models but 355/430 are only going to go one way.
I'm convinced that for what they are and if you have the right spec they are underpriced, all my humble ,,Mike
His comments and observations tell all that is needed as to why not just these models but 355/430 are only going to go one way.
I'm convinced that for what they are and if you have the right spec they are underpriced, all my humble ,,Mike
I think the 360 may be the last of the risers, but not by much. Maybe the 430's will also but its a guessing game. Will be interesting to see what happens in a few years when interest rates start to rise, and living costs rise, its a round circle, if people do not have access to cash or cheap credit the car market could see prices dropping to shift units. Its all very interesting.
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