How To Sell A Ferrari (Beginner Friendly Guide)

There comes a time in every Ferrari owner’s life when it’s time to sell their Ferrari. Whether you’re looking to sell your Ferrari FF for a higher horsepower Ferrari 488, or you’re ready to take another supercar, like a Lamborghini or Porsche, for a spin, it’s important to make the sale as smooth, painless, and lucrative as possible. 

Here’s the thing: selling a Ferrari is unlike selling a mass market car. The price tag is much higher, the buyers are much more picky, and a wrong choice can cost you big time. Depending on the sales method you choose, your Ferrari sale may be arduous and time consuming with a minimal payoff, or quick and easy with much higher profits. 

Read on to learn all about how to sell your Ferrari, including the sales channels you can choose from and which will return the best result. 

Preparing Your Ferrari for Sale 

No matter how you choose to sell your Ferrari, the first step is always to prepare your Ferrari for sale. The more work you can put into prepping for your sale, the higher potential payoff you’ll find. Here are the essential steps to preparing your car for sale: 

• Complete any outstanding repairs: The last thing an exotic car buyer wants is to purchase a car that immediately needs to go to the shop. Have all necessary work done to your Ferrari before listing it for sale. 

• Touch up your Ferrari’s paint job: Touch up any scratches, scuffs, or spots in your paint. Exotic car buyers are meticulous and will notice even the smallest blemish. 

• Have your Ferrari detailed: A professional detailing can do a lot for your car’s appearance. Include wheel care, specialized leather cleaning, and protective coatings that will give your car an enhanced shine. 

• Gather all documentation: Once your car is in showroom shape, it’s time to compile a folder of any documentation associated with your car. In addition to the sales slip, pink slip, and other standard documents, include detailed documentation of your car’s repair history, ownership, and more. 

How to Sell Your Ferrari: At a Glance

Private Car Sales Market 

Once your car is prepped for sale, it’s time to choose how to sell your exotic car. Your first option in selling your Ferrari is to use the private car sales market. In general, this way of selling your Ferrari may have a higher payoff, but it’s extremely labor intensive at best, and potentially dangerous, at worst.

How to sell your Ferrari via private car sales

Selling your Ferrari via the private car sales market requires the most work and can be the most time-consuming. Here’s how the process works: 

• Hire a professional car photographer: Professional car photographers know how to work with lighting and angles to display your car in the best possible light. While a professional photoshoot isn’t a requirement for the private car sales market, it’s an investment that can greatly pay off in the long run. 

• Write a listing: Next, it’s time to craft your car’s listing. It’s important to write a description of your car that hits on the emotional and the practical. In addition to listing your car’s specs, upgrades, customizations, mileage, and more, tell a story that your potential buyer will connect with. Focus on what makes your car stand out from all the others. 

• Set a price: Pricing your car can be one of the most complex parts of selling your Ferrari via private car sales. Spend some time researching the market value of your car by looking at other listings. Then, factor in your car’s specs, mileage, and condition. Private car buyers are almost guaranteed to lowball, so it’s a good idea to set your final price slightly higher than you’re hoping to get. 

• Pick an online marketplace: There are many online marketplaces to choose from, from generalized online marketplaces like Craigslist to ones geared towards selling cars, like AutoTrader. There are even several exotic-car specific online marketplaces, like Exotic Car Trader. Once you’ve picked your site of choice, set up your listing. 

• Respond to inquiries: Soon, inquiries will start flowing in. Keep an eye out for signs of potential scams, like buyers who want to buy the car sight unseen or offers that sound too good to be true. The private car sales market is rife with bad actors. 

• Arrange test drives: Once you’ve received a legit inquiry, set up a test drive. For your safety, always meet in a public location, and never hand over the keys to your car. If they’d like to test drive, go along with them. 

• Negotiate a sale: Finally, it’s time to negotiate the sale. Negotiation is a complex art and can be daunting for many. It can be a good idea to set your bottom line price, then hold true to it. Most importantly, do not transfer the title until you have cash in hand. 

Pros and cons of private car sales

Considering private car sales for your Ferrari? This exotic car sales method has one real benefit: 

• Highest potential payout: The private car sales market has the potential to receive the highest offer for your Ferrari. 

The cons of the private car sales market, on the other hand, are vast. They include: 

• Significant labor: As you can see, selling your car via the private car sales market requires a lot of steps. The process is totally in your hands, which means you need to balance it with work, life, and everything in between. 

• Time consuming: Once you’ve posted your car on a private car sales site, you begin the waiting game. Finding a qualified buyer can take weeks, or even months, during which time your car may depreciate in value. 

• High scam potential: There are many scammers on the private sales market looking to take advantage of you. As scams get more advanced, it can be extremely hard to determine who is legitimate and who isn’t. 

• Unqualified buyers: Aside from scammers, there are many unqualified buyers on private car sales sites who are simply looking for the opportunity to get behind the wheel of your rare Ferrari. You’ll need to suss these people out too, or waste your time catering to them. 

Dealership

Exotic car dealerships present an alternative to the private car sales market. Their process tends to be quick, but dealership sales are typically the least lucrative. 

How to sell your Ferrari to a dealership

Interested in selling to a dealership? Here’s what to expect. 

• Get a few preliminary offers: These days, most dealerships offer online valuation forms that will give you a preliminary offer for your car. Fill out a few forms, including those of specialized dealers, and see which offers you like best. 

• Visit the dealership: Once you’ve found a few offers you like, visit those dealerships for an appraisal. They’ll inspect your car, run some numbers, and return an offer. 

• Accept an offer: If you’ve found an offer you’re comfortable with, take it. You’ll need to complete some paperwork and transfer the title, then you’ll receive your funds. 

Pros and cons of selling your Ferrari to a dealership

Dealerships offer the opposite of a private car sale. Their main pro is: 

• Quick sale: Dealerships present an opportunity to sell your exotic car very quickly. If you’re comfortable with the offer a dealer is presenting, you can sell your Ferrari in just a few hours. 

The cons of this car sales method, however, are significant. They include: 

• Lowball offers: A dealership’s only goal in purchasing your Ferrari is to turn around and sell it for a profit. In order to do so, they have to offer you less than market value. Dealerships are often the least lucrative way to sell your Ferrari. 

• Deceptive tactics: Dealerships’ biggest strength is their ability to pressure people into sales, so they’ll do just about anything to get you into the door. Oftentimes, they’ll deceptively inflate their preliminary offer to lure you in, then offer much less after appraisal. 

We Buy Exotics

Looking for the speed of a dealership sale, with the high payout of the private car sales market? Try selling your Ferrari to an exotic car buyer like We Buy Exotics for the best of both worlds. 

How to sell your car to We Buy Exotics 

We Buy Exotics offers a straightforward exotic car sale that’s fully virtual. Here’s how it works: 

• Submit your Ferrari’s information: Fill out a quick form with information like your car’s make, model, mileage, and VIN. Include a short description and a few pictures of your Ferrari. 

• Get a guaranteed cash offer: Receive a competitive cash offer for your Ferrari in minutes. Your offer will be based on to-the-minute market conditions, and be a fair, competitive price. 

• Accept the offer: Once you accept, we handle the necessary documentation to facilitate the sale. 

• Get an inspection: Visit one of our partner car inspection shops near you. Once your car passes inspection, we’ll wire you the money. 

• Arrange a car pickup: We offer free, nationwide car pick up. All you need to do is let us know what time we should stop by. 

Pros and cons of selling your Ferrari to We Buy Exotics 

The benefits of selling your car to We Buy Exotics are plentiful. They include: 

• Fast sale: From submitting your car’s information to receiving your guaranteed offer, the process takes just minutes. Within 24 hours, you can have cash in hand. 

• Fair price: Our exotic car experts are committed to getting you a competitive offer that rivals the private car sales market. 

• Guaranteed offer: We’re not in the business of baiting and switching. The offer we give you is guaranteed, no need to negotiate. 

There are no real cons to selling your car to We Buy Exotics. Our offers are fair and our prices are easy. Ready to sell your Ferrari? Contact us today to get started.