Most exotic car buyers know that an exotic car isn’t a lifetime commitment. With so many rare, covetable cars on the market, there’s always a new one on the horizon. When you’re ready to purchase your next exotic, you may need to sell your current ride to free up the funds.

Considering the future value of Ferraris is crucial, as certain models may appreciate significantly over time, while others may not see meaningful gains in the near future. For the best resale value for your Ferrari, it’s a good idea to determine its true worth and learn how to maintain it. Read on to learn how to calculate the value of a Ferrari, which kinds of Ferraris hold their value, and how to maintain the value of your Ferrari.

Why Does the Value of Ferrari Matter?

Buying a Ferrari is like making an investment. The more value your Ferrari holds, the more money you’ll be able to get from selling it. Your Ferrari’s value can make a big difference in your next exotic car purchase. It may even be the determining factor in which exotic car you can afford next.

Critical Factors Impacting Ferrari Resale

The value of a standard car follows a very direct path. A Toyota or Ford holds the most value when it’s sitting on the car lot. Its value begins to depreciate the minute you drive it off the lot and continues to steadily decline over time.

An exotic car, on the other hand, follows a very different path. In some cases, a decade-old Ferrari may be worth many times more than what it originally sold for. Classic cars, particularly Ferraris, can appreciate in value over time, making them a potential investment. Let’s look at the factors that help Ferraris hold their value—or even increase it.

Rarity

The first factor that determines whether a Ferrari holds its value is its rarity. While there isn’t an exact number, experts estimate that under 10,000 Ferraris are made each year. Ford, in comparison, made 1.8 million vehicles in 2023.

Ferrari’s manufacturing process plays a significant role in the rarity of their cars. Ferraris are assembled by hand according to extremely high standards. Much of their rarity, however, is by design. By producing a limited number of cars each year, Ferrari is able to drive demand with limited supply, making their cars highly desirable. This balance helps many Ferraris hold their value year after year.

Performance

Of course, a rare car is nothing unless it performs well. Ferraris are phenomenal cars known for excellent handling and speed. Some Ferrari models are even considered “supercars,” a classification for exotic cars that offer racecar-level performance in street legal vehicles. 

Prestige

Another factor that prevents Ferraris from depreciating at the rate of other cars is their prestige. Ferrari’s excellent reputation makes it one of the most famous car brands in the world. The name Ferrari is synonymous with speed, luxury, and exclusivity.

Practical Evaluation Strategies

Like any investment, it’s a good idea to do your research before investing in your next Ferrari. Read on to learn how to determine a Ferrari’s value. Additionally, consider the insurance costs, as they are a significant part of the overall expenditure and can impact the investment potential.

Step-By-Step Valuation Methods

Because there are so many factors that affect the value of a Ferrari, it’s important to take your time when evaluating a Ferrari. Consider these factors to get a better picture of whether a Ferrari has will hold its value. 

Assess the Condition of the Car

First, assess the condition of the Ferrari. A Ferrari’s physical condition plays a significant role in its value. Exotic car buyers look for a like-new condition when purchasing a car. The smallest scratch can drastically affect the value of a Ferrari.

An under-the-hood inspection is important, too. A certified mechanic who is experienced in Ferraris can assess the mechanical condition of a Ferrari and determine whether there are any issues that may affect its value. It’s important to have a documented service history available for potential buyers, too. Some classic Ferraris can become money pits due to high maintenance costs, which may not be recouped upon resale.

Check its Mileage and Ownership History

Next, check its mileage and ownership history. These factors can greatly affect your Ferrari’s value. When it comes to exotic cars, buyers look for low mileage and few owners. The average mileage and ownership history can significantly impact the car’s value, as more owners increase the likelihood of improper care, and higher mileage indicates more wear and tear.

Do Market Research

Finally, it’s time to look at the market. Look at similar models on the market and check their price. If the market is flooded with Ferraris just like yours, it may not hold its value as well. If there’s a high demand and few options, its value could go up. Market values can fluctuate based on demand and availability, making certain models highly sought after and valuable over time.

Recommended Resources for Buyers

Fortunately, there are a number of tools available to Ferrari owners who want to better understand a Ferrari car’s value:

• Kelley Blue Book: This tool is the standard for pricing in the auto industry. Enter the car’s information and get an idea of its value.

Additionally, using financial tools and resources can help buyers understand various finance options available for purchasing Ferraris, including tailored finance solutions and different payment structures.

Spotlight on Successful Ferrari Models

Looking for the best Ferrari to buy as an investment? Check out this list of Ferraris that have held their value over time, as well as numerous models that have appreciated in value.

• Ferrari 458 Italia: Originally sold in the early 2010s for $239,340, the base model for 2011-2014 Ferrari 438 Italias can resell for up to $270,000.
• Ferrari 328 GTB/GTS: In 1989, the Ferrari 328 GTS retailed for $60,000. Today, the same model Ferrari is valued at up to $135,000.
• Ferrari 360 Modena: 2002 Ferrari 360 Modenas were originally sold at $141,965. Currently, this exotic car can sell for up to $165,000.

Certain Ferrari models have seen significant appreciation in value over time, particularly due to high demand following their launch.

Clarifying Misconceptions About Ferrari Value

Just like a celebrity, there’s a lot of misinformation floating around about Ferraris and their value. Let’s debunk some of the most common misconceptions about Ferrari cars. Some people suspect that modern luxury sports car owners prioritize financial implications over performance.

Debunking Common Myths

Don’t believe these common myths about Ferraris’ value:

• All Ferraris hold their value: This is a common misconception about Ferrari cars. While many Ferraris hold their value or appreciate in value, not all do. Many Ferraris depreciate in value, especially newer models.
• Ferraris aren’t worth their high cost: “Worth” is a highly subjective term. While there are a number of objective factors that go into a Ferrari’s value, like mileage and condition, the worth of a Ferrari is highly subjective. To a certain extent, if you feel a Ferrari is worth it, it is.
• The best way to get the most value out of a Ferrari is to sell it independently: While selling a Ferrari directly to a buyer may pay more than a dealership, it can have its own unseen costs. Selling a car independently takes a lot of time, and the more time your car sits, the more it depreciates in value. Instead, sell your Ferrari to an exotic car buyer. You’ll get a competitive price and a quick sale.

The story of Ferrari’s value is often misunderstood and surrounded by myths, much like the narrative of the iconic 246 GT ‘Dino’.

Frequently Asked Questions

How Does Rarity Influence Resale Value?

Generally speaking, the more rare a Ferrari is, the higher value it will have. Rarity is the primary reason that a Ferrari’s resale value will be higher than its original retail price. A limited edition Ferraris are now worth several times their original price because they’re rare. 

What Maintenance Practices Help Maintain Value?

Proper maintenance can help your Ferrari hold its value for years to come. Follow these maintenance practices to keep your Ferrari in ideal condition.

• Have regular maintenance done by a Ferrari-certified mechanic: For its highest value, ensure only qualified experts touch your car.
• Keep a detailed record of all maintenance: Exotic car buyers want to know what a car’s been through before purchasing. Maintain a log of all maintenance done on your Ferrari.
• Perform regular maintenance: Change oil every 5,000 miles or once a year. Check tire pressure each month and rotate every 5,000 miles. Replace battery every 3-5 years.
• Store in a clean, dry environment: Shield your Ferrari from direct sunlight, pests, and the elements. If you can, keep it in a climate controlled environment.
• Protect its paint: Have a ceramic coating applied to your car to protect its paint from road debris and other wear and tear.

Additionally, insure your Ferrari to protect its value and check for any prior insurance claims before purchasing.

Can a Ferrari Be a Sound Investment?

Whether or not your Ferrari is a good investment depends on all the factors outlined in this article. Your car’s rarity, condition, mileage, and more all affect its value. The more value your Ferrari can hold, the better an investment it is. Additionally, classic Ferraris from the 1960s and 1970s are often highlighted for their potential to appreciate in value, but it’s important to consider the financial risks and significant maintenance costs involved in such investments.

Conclusion: Maximizing the Value of Your Ferrari

Carefully selecting and properly maintaining your Ferrari can make a big difference when it’s time to sell. As important as maintaining the value of your Ferrari is selling it for a fair price. You can trade your Ferrari in to a dealership, but you’re likely to get low-balled. You can sell your Ferrari independently, too, but it’s almost guaranteed to be a long and arduous process.

Instead, sell your car to We Buy Exotics. We’ll give you the best cash offer for your Ferrari and pay you in as little as 24 hours. We’ll pick it up, too. Contact us today to learn more.

Ferrari’s significance in the automotive world is undeniable, making it one of the most desirable sports cars globally.