The headline this month is that average 360 asking prices have increased a monumental 14.85% since this time in October. The price index now stands at 154.69. However, before owners jump for joy (and prospective purchasers start weeping) it is worth taking some time to understand how this jump has occurred. In August a glut of sub £50k cars came onto the market which kept average prices down. These cars have now been taken off the market which has caused the sudden increase. If you are a 360 owner then your car hasn’t gone up in value by 15% – sorry…
As mentioned above, turnover in the market has been concentrated at the lower price levels. Speaking to dealers and being involved with transactions, I get the impression that demand is softening a touch and that we may be close to the peak in the 360 market. Of course, this market is only a small part of the wider Ferrari market, which in turn is part of a bigger alternate-investment market so there are lots of factors in play here. However, I recently helped someone buy a lovely F430 for the same money as good a 360 would sell for – I think that at these levels sensible buyers will be in the F430 market as it offers so much more.
Here’s the breakdown of the sold cars:
Here’s the big table. Note the wide spread on LHD prices – if Hexagon sell their LHD car for over £100k I would be surprised…
Here’s the price/mileage data:
Manual cars are holding a firm premium over their F1 equipped counterparts. I expect this trend to continue and even widen.
Here’s the massive table showing which cars are in and out of the data set:
That’s it for this month – please drop me a line with any questions or comments.
Related posts:
- 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:
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Aldous Voice 
I have a 2002 360 Spider, F1 ,Daytona seats, shields, challenge grills front and back, Tubi, Red with tan with 31,000 miles on it. All service up to date. I donât want to sell it, but I donât want it to go down in value due to high mileage. What is the most mileage you would let the car go to? Should I just drive it .5 per week and keep it below 32,000 miles?
I would always advocate driving your car as much as you like but if you are really concerned about residuals I would try and keep it below 35k.
Starman Voicey, very much appreciated, regards Mike, 360 spider in cream manual red, with red brakes challenge grille, two owners 2004, very happy indeed, although as I don’t envisage selling its academic but nice to know, hope you are having fun with the 430.
My favourite read of the month! For what its worth I sense the 360 market will become more spread with manuals commanding ever increasing premiums and more desirable colour / spec combinations the same. It took me 9 months to find my car (Manual coupe in rosso with tan carbon seats, challenge grills and wing shields) – I was only ever going to buy this or something very similar – not rational but who ever said buying a ferrari was a rational thing! I am now a 360 man and switching to a 430 (even a v. rare manual) is not on the agenda.
Interesting and I looked at the F430 pricing too. I had a few people telling me that my car was worth 70-75k max. I think they were wrong and so have decided to keep it until next summer at least and do Le Mans 2015.
I’m putting a few minor blemishes right so it will be as good as it gets outside the main dealer network. If you do hear of anyone looking for a nice F430 Spider F1 feel free to pass on my details.
All the best.
John
It is interesting that a couple of years ago there wasn’t really a noticeable difference between the manual and F1 variants (I was keeping my own spreadsheets prior to purchase!).
Mark.
Hi Aldous,
Is it possible to offer any analysis or advice on how trade vs private selling affects price? Or perhaps any insight into how many cars are sold as sale or return? Reason I ask is that I’m probably going to be selling up my manual 360 in a few months (first born on the way). I’ve always sold privately in the past, but perhaps I would be better off going SoR and taking the hit in the commission.
Curious to hear any thoughts you have on the matter!
Thanks and regards,
Robin Hastings.
Hi Robin,
When I pulled the data for November there were no private sellers in the 360 market. My point is that it is rare for someone to sell a car like this privately. Having said this, I don’t see it as a problem and indeed prefer to meet the owner in order to get an idea of how the car has been treated. The issue for you is that you’ll have to deal with untold time-wasters.
There is a discount to selling privately which should equate to roughly the SoR commission. This is to account for the less protection a buyer gets in a private transaction.
As to your second question – most of the cars on the market will be SoR. It is very rare for anyone other than a main dealer to buy their stock (although I do know of a couple if you want a fair bid on yours).
Lastly, if you are considering SoR then please do your due diligence on the garage as you can open yourself up to a world of pain if you choose the wrong people.
Thanks,
AV