Talk Morgan Forums Community Vehicle Talk (non-Morgan) pondering selling the fezza - but unsure

I have a 2003 Ferrari 360 Spider with the gated manual box. Only 400 bhp which isnt much by todays standard but fast enough for me and a delight to drive. Taken a bath on it so far - dropped £20k or so in todays market and I dont use it very much at all - 21k miles on the dial. So the question is whether to sell into a depressed market or to hold on since I dont need the cash .

Going through my mind:
1/ classic car buffs tend towards the cars they lusted after when young and poor, . Hence the price of souped up Dagenham Dustbins like the Cossies. So will the value of my car ever recover now that youngsters are used to flappy paddles turbos etc
2/ on the other hand the car is almost analogue - none of this lane assist nonsense that is compulsory on new cars, or Apple carplay etc. Appeals to old fogies like me but again the youngsters?
3/ its an NA v8 revving to 8500 - but 18mpg if lucky. Oddly enough its ULEZ compliant

So what do you reckon. Will classics of this era go back up or will they fall completely out of fashion like cars of the 30s and 40s . Flog now or flog later?

If you don't need the cash, keep it store it, in a year or so you will fall in love again.

Howard to be perfectly honest I would sell it now as I think we really have seen the end of the line for these cars now. I include my Antediluvian Plus 8 in that group too and as I amortize the cash expended instantly they owe me nothing, the pleasure they return is manifold and I'm happy with the arrangement and shall continue until they ban these glorious V8 machines but yours is worth considerably more and might affect your decision making.

Good luck with your choices.

p.s. The Microlino is a neat attractive EV option with easy access via the front door. Certainly a usable option for us soon.

I definitely see the cars that the baby boomer generation acquired as "classics" as being likely to fall out of favour as the number of us baby boomers loosing our grip on the perch grows with the passage of time and thus the market for machines such as MG`s Tr`s, Morgans and others looks to be going in one direction.... However I suspect your Ferrari will always find someone who will appreciate it.

I suspect it may be a numbers game too, in that Ferrari make far fewer machines than say Porsche, which as a brand also has world wide iconic status, but having been forced to adopt water cooling and increase production numbers, the effect seems to have caused air cooled Porsches to become more sought after perhaps linked to their rarity in comparison to the water cooled variety, and it seems the young automotive enthusiasts may well have tuned into air cooled as being the Porsche to own...?

Howard key for me is that you typed that you do not need the money, and taking a financial hit would only ever happen if/when you get involved in selling it, so why get into that situation and for what..money..?

I am in a very similar situation with my 991, though I suspect I may not enjoy driving it as much as it seems you do, your Ferrari... That typed, I have no intention of selling it as to my eyes it is a beautiful bit of kit, spending more time being appreciated as garage art, than a sports car...! My old Mog has seen more use in the last "summer" than my 991..It being a real sports car in my mind, I guess it is just an age thing...(-:

Of course the hope is that I may never need the money wrapped up in my cars, but who can ever predict that given all the many possible scenarios as we age....Perhaps best to enjoy that which we have while we can....

Your choice for sure Howard, best of luck in getting comfortable with it.

Not an easy choice. Its not getting used - I have stupidly done what I did once before and bought a low mileage car leaving me cautious about adding to the odometer. Hence the thought of selling.
Timing is the issue. And I do know that such cars have previously gone through a boom and bust cycle - a friends 328 cost maybe 80k new in 1980, went down to 25k in the previous bust when another pal bought one , rose again to 80k and has now dropped back again to maybe 60k. Other collectables go through similar cycles - watches, art, wines etc. Seems to be linked in part to the levels of confidence in the economy and right now that isnt great.

There is never a truly right time to buy or sell a car, as you are never sure at what point you are in the current market cycle, in that is it some where near the bottom or top of the market and what is the current direction of travel and for how long.

In my experience some cars fair far better than others in storage or low usage. My air cooled 930 turbo would start immediately following a long period of limited use, but with the coastal climate where I live I could see the paint and metalwork etc deteriorating no matter what I did.

I found from my friends experience who had a few Ferrari's in his garage including a 330 and a really low mileage Boxer, he eventually let them go, they were just too maintenance heavy and lack of use lead to annoying things like the brakes binding every time he came to use them. He currently has about 15 cars in his garage and the Ferrari's were the only cars he has ever let go, I think he had worked out/outgrown his school boy wall pin up mode . He still has eg his gas guzzling Dodge Chargers etc much simpler mechanically and less price sensitive to mileage. He's having more fun with his modern and older Bentleys than he ever did with the Ferrari's.

Some times its time to move on, especially as the perception of what model of any brand is in demand and will continue to hold/appreciate in value is changing especially for the higher volume models of any prestige car range is always evolving and changing over time.

Sometimes you can derive as much pleasure from having owned something and used it fully without reservation , rather than just simply holding onto something especially if has scratched that particular itch at the time Often we move on and with it our particular needs from a given thing and sometimes I find the chase is often more fun than the actual ownership experience after the initial enjoyment subsides. Maybe its time to chase something else.

The discussion seems to have spun round to the financial aspects of "investments." in the financial sense..... I bought my 991 at the top of the market, knowing it likely to be so at that time, but it was the car enthusiast in me and other personal reasons that caused me to make what for me was a substantial financial decision at a time where it was perhaps not the best time to buy, I suspect were I to try to sell it today I might be down £20k, ( inclusive of servicing costs) that would be painful, given it took many years of savings to be able to buy it....No attempt to sell = no pain...(-:

When I bought my Morgan ( the result of five years of saving) it was in concours winning condition, first day home I drove it up an unmade road with stones flying everywhere, I did not buy it to win concours competitions I bought it to drive it..... Boy as one who has restored my own cars, I know how much care and attention was put into my old +8`s condition at that time, but there was no way I wanted to be a slave to the machine.... Servicing costs for a Trad Mog are miniscule to that of a more modern machine...Today I feel my old Mog owes me nothing given the memories created while enjoying it over the years,. if it becomes someone`s barn find in time... I have no problem with that.

I suspect there is not enough time left at my age for the 991 to reach the same stage of comfort as the Mog in terms of it`s cost, it being more valued perhaps as garage art, and providing a sense of achievement, though it has risks related to rather high maintenance costs, and Porsche do not build them the way they used to....Which creates it`s own conundrum in terms of usage, though I have spent circa £6k ( for 6 years) in extended warranty insurance given their rep for blowing engines and the cost of dropping a gearbox.... Where is the investment potential in that... ?

I am an automotive enthusiast, and obviously in no way a savvy financial investor...though you could say I invested wisely as I am still enjoying returns every day I walk into the garage and see them, or better still, when I fire either of them up and head out into the sun...I suspect spending time contemplating their market value reductions, would have potential to dilute some of the pleasure in their ownership..?

Now having typed that I`m in need of going out to the garage and feeling the joy...(-:

Each to their own for sure...

It's always an extremely difficult decision - tempered slightly by a creeping sensation that a chapter might be closing.

I have a rich history of buying the 'right' cars, but selling them at the wrong moment. Cars that I let go for £100k a few years ago, are now worth four or five times that amount!

Many of us are at an age where, very sadly, good friends have shuffled off this mortal coil. From my perspective doing things that bring you pleasure, as long as it's not being completely irresponsible, is more important than selling things I enjoy.

It's undeniably irritating to know you own something that might have halved in value - but unless that strips the joy out of it, keep on enjoying it.

With restrictions on garage space being a limiting factor, it tends to colour my prospective over what is worth keeping. Secondly, if something has been fully enjoyed, driven and shared some great memories of past journeys and some great life experiences, I can understand just keeping it there as a reminder of past times.

Whilst each to their own, I don't see the point of owning something and then not using it because the very essence of its attraction to you in the first place eg low mileage is the very thing that stops you enjoying it more fully. Cars were designed to be driven, and sometimes we get a little too precious with them.

No argument from me on your thinking John, there can ever be a whole range of personal priorities that can shift around in the mind or indeed in reality, and at times dependant on mood... I suspect altering emotional connection may well end up winning through, be that prioritising money, machines or something entirely different...(-:

As always wishing everyone the best of luck in their choices...