It finally feels like we’re turning a corner weather wise in the UK which should herald the start of the driving season and hopefully increased activity in the used Ferrari market over here. Average asking prices have risen 0.59% MoM which leaves the AV360PI index at 102.53. The number of cars for sale has also increased a touch – there are now 55 cars listed on Pistonheads vs 51 last month.
The rise in the headline index masks some interesting behavior in the price data. Average asking prices have actually fallen for mileages higher than 35,000, whereas cars with lower readings on the odometer have risen. Since the prices of these cars in invariably higher, the overall average asking price has been dragged up. It’s also worth noting that the number of cars offered for sale over £55k is steadily rising, from 7 in January to 11 in February to 16 this month.
Here is the chart of mileage plotted against asking price. I have added a vertical grid lines and drawn a green line to show where the cut off in prices is for different low mileages. Cars with 10k or less on the clock command an asking price of at least £58k. If you want a car with 15k or less then the lowest priced one is £54k. To get a car with less than 25k then you’ll be looking at examples priced at a minimum of £45k. I believe that time of being able to buy a “prime” 360 for less than £45k is well and truly over and good cars are on the rise.
Here’s the table of this months data cut up in the usual way:
Here’s the table of theoretical average asking price for different mileages:
And here’s the table of median mileages. Although there is a slight increase from last month, it is too small to read anything into and remains in the same region as all the other months.
That’s it for now, please get in touch if you need any more info. If you are looking at a particular car then I will be happy to pull out the data I hold on it for you – just drop me a line.
Other posts in this category: Buying and Selling
Pistonheads price threads:
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