Why do we buy Ferraris?

Why do we buy Ferraris? For some of us it is the looks and for others it is merely the pleasure we get from driving such fine automobiles. Unfortunately, I might argue that the former represents a majority of today’s Ferrari buyers. To cite some evidence for such a claim I simply urge you to look at the abundance of Ferrari’s with chrome rims or the F1 option- chrome rims are poor heat conductors while the F1 is an arguably less engaging prancing horse. I believe that the decrease in Ferrari ‘driver enthusiasts’ has created a stigma around high mileage Ferraris-Many cringe at the thought of acquiring a high mileage 355 or 360. As a result, many Ferrari owners barely drive their cars, but is such behavior rational? Or more importantly, does reasonable driving significantly affect the value of your Ferrari?

I embarked to examine the supply and demand characteristics of 355 and 360 purchases in the second hand market. Each respective model was examined individually to isolate value from the modernity of the model. For data I used ebay, which arguably is a superior source for examining supply and demand. What I found (and the following graphs highlight) is that price is more highly correlated with year than miles (respectively .8 to -.47). The significance of this you ask? Simple! Higher miles have less of an effect on price than year. Although mileage plays a role below a certain mileage barrier (ie: <10k)>20k). This means that if one buys a newer year used 360 or 355 with ‘high Ferrari miles (20k+)’ that individual can own the car while minimizing depreciation! These graphs highlight that new Ferrari owners are rational for minimizing their driving while buyers of used Ferraris with fairly high mileage would be negligent to not exercise their stable-mate. Although this concept might appear a bit hackneyed please feel free to examine the data and come to your own conclusion.

360 Coupe

Eyes are the window to the soul-right??? Perhaps the most stunning feature of the 360 is its glass window displaying the cars high revving V8. The 360 is aerodynamically light years ahead of the 355 and with the advent of the 430, a 360 can be had for a bargain comparred to a Lamborghini of considerable age and mileage. I think the perfect care would be a red 360 Coupe with Scuderia schields-with or without the carbon ceramic breaks- nothing could be better! Anyone disagree?

F355B

This car is now quite the deal on the open market. A low to mid mileage 355B can be had for a steal on the internet or ebay! $60K will buy you a 355B with a six speed and freshly serviced. In my book, there is not a better deal on the market today than a Berlinetta. The B's more muscular figure outshines that of the spyder. Along with this the 6 speed is a more robust transmission than the F1. Any thoughts?

512M

The 512M is one of the most elusive modern Ferraris out there. Just like the 575 Super America, Ferrari made a limited sun of Testarossas before it discontinued the model. The 512M boasted updated aesthetics and a potent new V12. The only rarer form of the Testarossa is the 512LM which we will vist later. Personally I think this is the most striking model of the Testarossa series. However, I do wish they had offered it with only one side mirror like the original Testarossa. Any comments?