Here’s some more skidpan action from the FCA National Rally 2014 at Sydney Motorsport Park.
One of the things that I do every week is keep track of the asking price of Ferrari F355’s. I do this partly to have an idea of what the insurance value should be but also because I believe in the long run the F355 will increase in value.
The method I use is to track the asking price of F355s for sale via the auto classifieds on the internet for local Australian F355s. I then throw away the value of the most and least expensive ones and average the rest. That gives me the chart you see above.
The blue line is the average asking price, while the red line is a 52 week moving average (to give a better indication of price over time). This 52 week average has been fairly static around the $136,000 mark. However, you can see that in the last few months the average price for a F355 has taken a substantial dive.
Of course, this measure is by no means scientific and in many ways is biased towards unpopular or low quality cars that take many weeks to sell. Also, the average is only conduced across no more than a dozen cars every week. However, that could therefore be taken as a worst case scenario?
So what does all this mean? The figures certainly indicate that the asking price of a F355 is now well below the 52 week average which suggests that if you are in the market for a F355 now is the time to buy (if you can find the right car of course).
It is never as simple as this, and as I said the figures (especially now) are skewed towards cars that are taking a long time to sell for various reasons. As with purchasing anything of this value you need to do your research and hopefully this might provide some information around what price you should expect to pay.
Some say that the value of classics cars is at an all time record high. I’d like to see where they get that from as the number I track on F355s certainly don’t seem to indicate that all at the moment!
I’d love to be able to extract an automated data feed from the auto classifieds so I could the break up the models to know the average asking price of different colours, models, years, etc. Having all that data accessible automatically would mean I could concentrate on developing ways to analyse it. At the moment I simple hand end the basics every week which is time consuming and I’d do more if I could. I plan to contact the auto classified people to see whether a data feed is available somehow but I’d guess not as that information is part of the value they provide. Worth a try anyway.
So there you have it. A good time to buy a F355 if you are looking? If you can find the right one, maybe. Maybe.
Every year the Ferrari Club of Australia (FCA) organises get together for Club members from all over Australia in one location. This year it was Sydney’s turn and I was lucky enough be assisting with making this week of events happen.
The week kicked off with registrations at the Four Seasons hotel in the heart of Sydney.
It was certainly a sight to behold in the car park below the hotel but the initial challenge proved to be getting all of these cars out of the car park the following morning on their way to the concours at Woolwich.
Provisions had been made for the cars to exit via the normal exit route, however this proved too ‘scraping’ for some, even with boards in the gutter, so it was decided that the cars should exit via the entry.
This took a little bit of co-ordination and logistics but by about 9am those wanting to exit had done so and were on their way to the concours.
Having travelled into the city via public transport I opted to continue that and hopped on a ferry for the very pleasant trip around Sydney Harbour to the foreshore location of the concours.
After a short walk from the ferry terminal I cam upon the spectacle as you can see above. A fantastic location filled with fantastic cars.
Only problem was that the wind had come up to a point where it prevented the erection of all the banners and flag which was disappointing as they would have really capped a great atmosphere.
Having all the cars linked up on the foreshore was a truly spectacular site with Sydney Harbour as the backdrop. You just can’t beat that.
Unfortunately, after lunch (but luckily after judging had completed) the weather started to close in and it started to rain.
That was the signal for everyone to make a beeline for their cars and to call it quits for the day and head back to the hotel. However, all in all the day went well and everyone enjoyed themselves. I strolled back to the ferry terminal for a leisurely return via public transport.
Day 2 of the Rally signalled the start of a drive day down to a winery in the Southern Highlands. My job for the day was to arrive at the way point ahead of participants and guide them as to what to do.
The first way point was at Dolls Point in the southern suburbs of Sydney. It is always interesting to see the reaction on residents faces when 40+ Ferraris all rock up to their quite neighbourhood street.
The next stop was Panorama House at the top of Bulli Pass for morning tea.
Once again, an impressive sight to see so many prancing horses in one location.
The final stop for the day was the winery where some major traffic management was required to get everyone accommodated. Unfortunately, by this stage the weather had turned quite chilly and wet but everyone was safely inside enjoying a fine lunch. I headed back home the short way along the freeway as I had work commitments to attend to for the rest of the day.
The third day was the highlight for most attendees, that being track day at Sydney Motorsport Park at Eastern Creek. Because some serious bragging rights where up for grabs all cars had to pass scrutineering.
My roll was to marshal the troops and keep them happy and caffeinated.
Next came the driver’s briefing (basically don’t do anything stupid).
And then they were off, split into three groups.
After lunch the skid pan was also opened up for people to complete a tight course through some cones over a wet surface. I was lucky enough to be a passenger for one of these runs and caught it all on the video you see above.
After many more laps and a great deal of fun, everyone head back to the hotel. This was my last day of helping with the Rally as I had work commitments for the rest of the week.
I had a blast meeting some very passionate Ferrari owners from around Australia and sharing the events with them. A great way to spend a few days!