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.