Greg bought his first Ferrari in 2001, a Mondial QV Convertible. Even though this was one of only 24 RHD cars made worldwide, it was not hugely valuable and subsequently went in 2011 for about £20k. However, today the car is worth double what it was when it was sold. Slightly annoying you might say but had to make room for a newer, more usable car. In the budget were either the F355 Spider, or the later 360 Spider.
Greg says ‘On one hand the F355 was loved by all as being the ‘last’ of the traditional shaped, mid engine 2 door sports cars. Many would argue that the F355 sounded better than the later 360. Also the F355 was performing so well, value wise, the F355 would presumably be a safer investment?
On the other hand, the 360 was Ferrari’s first ever all aluminium car, the styling was more ‘up to date’, the interior was hugely more luxurious and modern. There also was all new tech, safety, horse power, suspension and stiffness.
So, do I buy the car that was the safest investment and a croud pleaser, or do I buy the ‘better’ car from a driving point of view?
Well, I decided to buy the car I thought would give me most pleasure, presumably be more reliable, and be more ‘usable’. It was decided, I would go for the 360 Spider. I was careful to buy the best performing colour scheme, which for this model was the Rosso Corsa (red) with the Crema (magnolia) leather interior. This was my preferred choice anyway and I knew it would hold it’s value better than any of the other, cheaper to buy, colours.
I purchased the car back in 2011 at approx £48k and instead of the car ‘holding its value’, the car is now worth circa £85k. Now you show me any BMW or Mercedes that appreciates like this?!?!
In short, I am better off financially having bought the car (seemed like a lot of cash tied up in a car), than I would of been had I picked a more conservative choice of sportscar. It also appears to be evident, if you make sure you buy a good clean example, with full history and in the most desirable colour scheme, you are almost certain to not lose any money. It might even pay you to own it!
Back in 2015 I swapped my daily from a BMW to an Aston Martin based on residual values experience. It turns out, the smart money buys super cars!’
All photos courtesy of Pure Power Photography. See his work on Instagram.