The UK Ferrari 360 market remains very buoyant. From looking at the data, talking to dealers and being involved with transactions it is very apparent to me that the 360 market is hot. Cars are being sold in all areas of the price spectrum and prices are being achieved that I really wouldn’t have been able to predict last year. Finding good stock appears to be the issue for most dealers – I arrived at an independent outfit a couple of weeks ago in a 360 on the hunt for some parts for a classic Ferrari and before the pleasantries were over I was offered a cash bid on the car and a lift home. There seems to be a very real supply and demand imbalance which is helping lift prices.
As one would expect in a heated market, average asking prices have risen 2.06% since last month which leaves the index at 121.20 and well above the heady heights of January.
The number of cars for sale has dropped to 32 (remember there are about 1,000 cars in the UK so this is a very small part of the total population). I see 12 cars dropping out of the data and 7 new entrants.
The cars that have sold have been split between those priced at the bottom of the market and those right at the top. Demand is healthy for cars priced over £60k.
Here’s the main data table:
Here’s the plot of asking price vs mileage. Note that the outlier (60k miles, £50k price) that was in last month’s data has dropped out. I wonder if it actually sold near that price…
Here is the table of average asking prices for different mileage points. The price differential between the lower mileage points has now increased to more realistic levels.
Based on my information and dealings, the demand for manual coupes is very strong. If you own a low mileage example in a desirable colour combination you will get top money for your car. However, the data suggests a more modest premium than last month:
Here’s the big chart showing which cars are in/out of the data:
I’d like to end with a short response to the accusation that I am guilty of talking the market up (as posted on a well known UK Ferrari forum). Firstly, the index I have created is a backwards looking indicator. It relies on data collected in the past and offers zero insight on what may happen in the future. Secondly, I am supplementing the hard data with information gleaned from talking to dealers and from being involved with real transactions happening in the market. Had I been doing this in 2010 and 2011, I would be reporting doom and gloom of dealers begin unable to shift cars and resorting to selling at a loss. Finally, I have no dog in this fight – I own a F430 and have been reporting static prices in that market for the last 18 months!
- Ferrari 360 & F430 UK Production Numbers
- Ferrari 360 & F430 UK Export Numbers
- Ferrari 360 & F430 Buying Guide
- Ferrari 360 Buying Advice
- Ferrari 360: A Dealers Perspective
Other posts in this category: Buying and Selling
Pistonheads price threads:
If you enjoyed this post why not subscribe to this blog for further updates? Simply enter your email address in the box at the bottom of this page. Your details will not be shared.