Friday, May 30, 2008

What will 70K get you these days?

Are Ferrari prices in the US experiencing a weak point, coordinating with the rest of our economy? I am not sure but it seems the asking pricing for marginal cars has sunk. For me this is a mixed blessing. If it turns out my car has suffered significant depreciation I will hold on to it. I am not saying my car is marginal. I think it is fantastic an excellent example of a 355 with a great color combo, but it’s not red, black, or yellow.

I could trade it on another Ferrari which has suffered similar depreciation or greater depreciation and hope to recoup the value when/if prices rise in the future. I don’t think I would opt for this route. I think the car I have is about as good as inexpensive, modern Ferraris get. I wouldn’t mind a late 60s 330 but even rough cars are a big trade up.

This got me to thinking. What does $70K buy today? Here are some options. Prices represented are asking price.

Here is option #1 2004 Porsche 911 Turbo 996 x50 Cabriolet 36K Miles. It was fully loaded from the factory ordered in Basalt Black with the natural leather interior. Factory options were the $18,000 X50 horsepower upgrade, full light burl wood interior, full and supple leather, dual power seats with dual lumbar, heated seats, navigation, 6 disc cd changer, Bose premium sound, park distance and the burl wood shift knob and brake lever. 69,900

Here is option #2 2002 Bentley Arnage with 35,556 miles. 69,888

I think I will keep the 355.

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