488 Pista prices
Discussion
Where do we think Pista prices are heading. Been thinking about a purchase for a while now but put off by the number of cars available. Also the F8 seems just as powerful, more driveable and a lot cheaper with more price falls to come.
I have travelled to several dealers and you would be surprised at the number of Pista they have in stock or s.o.r. but not advertised, to keep the impression of low numbers available. Dealer in Swindon often rotates the stock they advertise but have at least 5 in stock.
Most of the cars on Pistonheads have been languishing for many months .......how long before they drop to £250k. Maybe entry point at that level ?
Anybody with any real time experience to share.
I have travelled to several dealers and you would be surprised at the number of Pista they have in stock or s.o.r. but not advertised, to keep the impression of low numbers available. Dealer in Swindon often rotates the stock they advertise but have at least 5 in stock.
Most of the cars on Pistonheads have been languishing for many months .......how long before they drop to £250k. Maybe entry point at that level ?
Anybody with any real time experience to share.
As you say the F8 has ruined it for Pistas.
Even with the constant price reductions most have been for sale for many months, even the supposedly rarer Pista Spyder is a non mover with almost all of those that are for sale having been reduced by £30k in recent months and still sitting unsold...
Even with the constant price reductions most have been for sale for many months, even the supposedly rarer Pista Spyder is a non mover with almost all of those that are for sale having been reduced by £30k in recent months and still sitting unsold...
That seems to be the situation now. Ferrari dealerships are hanging on to prices though, as they can afford to do so in hope of rises post Covid. Moreover, they are offering insulting prices for Ferraris in part exchange. My local dealership is not interested in my totally mint low mileage F430 Spider. In short they want to get rid of stock, but only at pre-Covid values and offer peanuts for part-exchange. Additionally, they are not interested in anything pre 458. Pretty obvious what to do about that.
dereksharpuk said:
That seems to be the situation now. Ferrari dealerships are hanging on to prices though, as they can afford to do so in hope of rises post Covid. Moreover, they are offering insulting prices for Ferraris in part exchange. My local dealership is not interested in my totally mint low mileage F430 Spider. In short they want to get rid of stock, but only at pre-Covid values and offer peanuts for part-exchange. Additionally, they are not interested in anything pre 458. Pretty obvious what to do about that.
I’ve just traded my 430 coupe in for a 488. I told the dealer where I needed to be on the PX after they offered an insulting amount. I was straight with them, give me what I need for mine & I’ll buy yours, deal was done!Message me if you would like details
Edited by SRBA on Friday 4th December 19:57
85%+ of new Ferrari (and other luxury cars) are financed. I hear many finance firms have now closed their books as they are exposed. Buyers (using finance) are looking to exit as fast as possible. Too much volume, too much finance and buyers thinking 3 year finance can work easy was hit broadside by the pandemic. A rising tide floats all boats, the reverse is painfully true. But it's the makes and models that are last to rise that are the earliest to fall, and will fall fastest. This is not new news.
The Pista is an exceptional supercar, its detail design is superb, its build quality far superior to the 458S, its performance is fierce (as some over keen under skilled drivers have found out to their cost) and performance vicious. With a gorgeous spec (and personally I love it with the Australian custom made carbon wheels) the Pista Coupe is likely to be stickier in pricing. That said, there are some very garish specs around (interiors especially) which to resale value is toxic.
The Pista is an exceptional supercar, its detail design is superb, its build quality far superior to the 458S, its performance is fierce (as some over keen under skilled drivers have found out to their cost) and performance vicious. With a gorgeous spec (and personally I love it with the Australian custom made carbon wheels) the Pista Coupe is likely to be stickier in pricing. That said, there are some very garish specs around (interiors especially) which to resale value is toxic.
JayP1 said:
Toying with the idea of a 488 GTB, but although a Pista is way more than I’d like to spend I’m half wondering if buying a Pista around £260k might actually be wiser in terms of depreciation over 2-3 years. Anyone have a view? Cheers
My view, for what it is worth, is that all high end Ferrari's, from 458 onwards will lose money over the next year or so. Long term, who knows. Mind you, we are seeing an emergence of appreciation of old Ferraris, especially 355. I also think that 360s and 430s will follow suit from Easter onwards. Now well be the time to buy a 360/430, but 488 etc not, eventhough 488s have suffered a huge drop in value over the last year. dereksharpuk said:
JayP1 said:
Toying with the idea of a 488 GTB, but although a Pista is way more than I’d like to spend I’m half wondering if buying a Pista around £260k might actually be wiser in terms of depreciation over 2-3 years. Anyone have a view? Cheers
My view, for what it is worth, is that all high end Ferrari's, from 458 onwards will lose money over the next year or so. Long term, who knows. Mind you, we are seeing an emergence of appreciation of old Ferraris, especially 355. I also think that 360s and 430s will follow suit from Easter onwards. Now well be the time to buy a 360/430, but 488 etc not, eventhough 488s have suffered a huge drop in value over the last year. If I listened to others, I would have kept my 430 & passed the 488 by, saving at least 90k! What’s the point of having the money in the bank & yearning after the car you could of had and still want. You’ve got to go into this with your eyes open, knowing roughly what you will lose IF you are to sell.
I understand everyone is in different positions, but go for what you want and what you know can afford.
SRBA said:
I’ve just traded my 430 in against a 488. All I can say is, buy what you want as no matter what way values go, you’ll always have the car you wanted in the first place.
If I listened to others, I would have kept my 430 & passed the 488 by, saving at least 90k! What’s the point of having the money in the bank & yearning after the car you could of had and still want. You’ve got to go into this with your eyes open, knowing roughly what you will lose IF you are to sell.
I understand everyone is in different positions, but go for what you want and what you know can afford.
+1If I listened to others, I would have kept my 430 & passed the 488 by, saving at least 90k! What’s the point of having the money in the bank & yearning after the car you could of had and still want. You’ve got to go into this with your eyes open, knowing roughly what you will lose IF you are to sell.
I understand everyone is in different positions, but go for what you want and what you know can afford.
You have to drive what you enjoy driving. The money saved or lost, is not actually yours - it’s the kids - so just make the most of the time left, especially as the freedom of driving will start to be taken away from us...
I have been unlucky enough to have went through a few of these financial crashes as a 'supercar' owner before, albeit this one looks a bit different.
Last one after the banks crashed, my then Ferrari halved in price and buyers were very thin on the ground, so decided on the thought process 'you only lose money when you sell' so toughed it out and enjoyed the car.
This time is different; there are just far too many cars, with the never ending release of ltd edition hard core version followed by a new model...Ferrari, Porsche and McLaren; each are very guilty although most seem to focus on it as a 'McLaren issue'.
The finance companies are getting twitchy with being over leveraged, and as soon as they change the GFV ( which they have already started ), monthly payments become unaffordable leading to cars being unsold.
Personally, i cannot see a recovery of prices in the spring...i can only see a harsher version of what has happened before.
My previous experience would be to advise anyone that is thinking of currently buying 'sit tight'; whatever you are looking at may seem cheaper than normal just now, but there shall be quite a few people wanting to get out of what they have without replacing; it took about 9 months after the late 2008 crash, and that was what decimated the prices then.
Last one after the banks crashed, my then Ferrari halved in price and buyers were very thin on the ground, so decided on the thought process 'you only lose money when you sell' so toughed it out and enjoyed the car.
This time is different; there are just far too many cars, with the never ending release of ltd edition hard core version followed by a new model...Ferrari, Porsche and McLaren; each are very guilty although most seem to focus on it as a 'McLaren issue'.
The finance companies are getting twitchy with being over leveraged, and as soon as they change the GFV ( which they have already started ), monthly payments become unaffordable leading to cars being unsold.
Personally, i cannot see a recovery of prices in the spring...i can only see a harsher version of what has happened before.
My previous experience would be to advise anyone that is thinking of currently buying 'sit tight'; whatever you are looking at may seem cheaper than normal just now, but there shall be quite a few people wanting to get out of what they have without replacing; it took about 9 months after the late 2008 crash, and that was what decimated the prices then.
650spider said:
I have been unlucky enough to have went through a few of these financial crashes as a 'supercar' owner before, albeit this one looks a bit different.
Last one after the banks crashed, my then Ferrari halved in price and buyers were very thin on the ground, so decided on the thought process 'you only lose money when you sell' so toughed it out and enjoyed the car.
This time is different; there are just far too many cars, with the never ending release of ltd edition hard core version followed by a new model...Ferrari, Porsche and McLaren; each are very guilty although most seem to focus on it as a 'McLaren issue'.
The finance companies are getting twitchy with being over leveraged, and as soon as they change the GFV ( which they have already started ), monthly payments become unaffordable leading to cars being unsold.
Personally, i cannot see a recovery of prices in the spring...i can only see a harsher version of what has happened before.
My previous experience would be to advise anyone that is thinking of currently buying 'sit tight'; whatever you are looking at may seem cheaper than normal just now, but there shall be quite a few people wanting to get out of what they have without replacing; it took about 9 months after the late 2008 crash, and that was what decimated the prices then.
Agree if I didn’t think I would get buttons, i’d sell a couple of cars now to release cash to cover expenses. As I don’t have finance the pressure to sell is not (yet) big enough, so I am sitting tight - but if they were on finance, I would quite probably sell them at whatever I can get very soon. I am pretty sure I am not the only one, so prices of these middle of the road / not really all that special (from a rarity perspective) cars will only go one direction in the near term imo (and actually also in the medium and long term as I see it). Still if you can afford it, life is short and you don’t know what happens tomorrow, so might still be the best choice to buy one now regardless of if it is cheaper tomorrow. Last one after the banks crashed, my then Ferrari halved in price and buyers were very thin on the ground, so decided on the thought process 'you only lose money when you sell' so toughed it out and enjoyed the car.
This time is different; there are just far too many cars, with the never ending release of ltd edition hard core version followed by a new model...Ferrari, Porsche and McLaren; each are very guilty although most seem to focus on it as a 'McLaren issue'.
The finance companies are getting twitchy with being over leveraged, and as soon as they change the GFV ( which they have already started ), monthly payments become unaffordable leading to cars being unsold.
Personally, i cannot see a recovery of prices in the spring...i can only see a harsher version of what has happened before.
My previous experience would be to advise anyone that is thinking of currently buying 'sit tight'; whatever you are looking at may seem cheaper than normal just now, but there shall be quite a few people wanting to get out of what they have without replacing; it took about 9 months after the late 2008 crash, and that was what decimated the prices then.
Good luck in any case
I cant see supercars holding value going forward - there is simply too many out there - the 458/488/F8 is a good example of this - all in the space of 10 years, plus of course the Speciale, Pista, and whatever the F8 variant will be.
Coupled with the fact that you simply cant get away anymore of driving them as you should - speed cameras, dashcams, unmarked police cars.
And if all this wasn't enough, the electric Micra will probably beat you off the lights in a few years when the roads are full of them.
Coupled with the fact that you simply cant get away anymore of driving them as you should - speed cameras, dashcams, unmarked police cars.
And if all this wasn't enough, the electric Micra will probably beat you off the lights in a few years when the roads are full of them.
“This time is different; there are just far too many cars, with the never ending release of ltd edition hard core version followed by a new model...Ferrari, Porsche and McLaren; each are very guilty although most seem to focus on it as a 'McLaren issue'.”
I tend to agree with you - I’ve been looking at my next supercar move for a while and what strikes me is that of whichever model I am looking at it always seems that a newer version has just come out that’s the next best thing and I end up thinking, I’ll just wait a few more months until that new we model has depreciated a bit! In the end I’m still on the fence and by the time I’m ready to buy the 488 I fear we will be on two models ahead.
I spent some time looking at Mclarens but the model/performance overlap given the speed at which new models are released just gave me a headache.
I tend to agree with you - I’ve been looking at my next supercar move for a while and what strikes me is that of whichever model I am looking at it always seems that a newer version has just come out that’s the next best thing and I end up thinking, I’ll just wait a few more months until that new we model has depreciated a bit! In the end I’m still on the fence and by the time I’m ready to buy the 488 I fear we will be on two models ahead.
I spent some time looking at Mclarens but the model/performance overlap given the speed at which new models are released just gave me a headache.
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