Ferraris are icons of performance and luxury. Whether you've fallen out of love with yours or just need to free up some capital, it's crucial to understand the potential complexities and how to find the ideal buyer to optimize your return.
Let's explore the ease of sale, ideal buyers, resale values, and any restrictions surrounding the sales process of your Italian supercar.
How Easy Is It to Sell a Ferrari?
While Ferraris have a certain exotic prestige that increases demand, selling one isn't quite like selling a standard car. It often requires more patience due to the niche market. Finding the right buyer might also take additional effort.
If you need to make a quick sale, be prepared to be flexible on price — Ferraris typically require meticulous pre-sale preparation and marketing to fetch top dollar.
Who Can I Sell My Ferrari To?
You have several options when selling your Ferrari, each with its pros and cons:
Ferrari Dealers: Dealerships offer convenience and a swift transaction but could undervalue your car when intending to resell it for greater profit.
Online Auctions: Auction sites can offer large audience exposure, but come with fees and the uncertainty of the final price.
Private Sale: Selling directly to a buyer can get the highest price, but can be time-consuming, with added advertising and communication responsibilities.
Specialty Car Dealers: They focus on exotic cars and may provide fairer, market-aligned prices. They have connections within the enthusiast community to find buyers.
Are You Allowed to Resell a Ferrari?
In most cases, yes, you are legally allowed to resell a Ferrari you own. There are usually no contractual restrictions from Ferrari preventing you from doing so. However, the brand does have a somewhat unspoken understanding with its clientele.
Ferrari has been known to subtly discourage the practice of "flipping" — buying highly sought-after limited-edition models with the sole intention of quickly reselling them at a significantly higher price. They often prioritize buyers who demonstrate genuine passion for the brand and its cars rather than those purely seeking a quick profit.
Does a Ferrari Have Resale Value?
Ferraris generally hold their resale value exceptionally well compared to typical mass-market vehicles. This strength is due to their desirability, brand prestige, and often limited production numbers. However, depreciation still affects all cars, even Ferraris. Here are the key factors influencing a Ferrari's resale value:
Model and Rarity
Certain classic Ferrari models or limited-production supercars command exceptionally high resale value, sometimes even appreciating over time.
Condition and Maintenance
A meticulously maintained Ferrari with complete service records is far more likely to fetch a premium resale price.
Mileage
Lower mileage cars, being closer to their original condition, are usually viewed more favorably on the resale market.
Market Demand
Economic conditions and the current popularity of specific Ferrari models can significantly impact the resale prices.
Important Considerations When Reselling a Ferrari
If you are considering selling your Ferrari, here are some factors to keep in mind:
Documentation
Having a comprehensive maintenance history and service records can greatly increase the car's value and desirability to potential buyers.
Market Pricing
Conduct thorough research on the current market for your specific Ferrari model and year to determine a reasonable asking price.
Sales Options
You can sell privately, through a specialized exotic car dealership, or via a dedicated auction platform. Each option has its pros and cons.
Sell Your Ferrari With Boardwalk Auto Group
Selling a Ferrari might be more involved than selling a standard car, but there are viable ways to get a fair price for your coveted vehicle. Research to understand your Ferrari's market value will ensure you're making an informed decision with the sales method you choose.
Remember: proper documentation, maintenance records, and a pre-sale inspection can all add value when trying to secure a successful sale.
Now: Are you ready to sell your Ferrari fast and effortlessly? Boardwalk Auto specializes in handling prestige vehicles and finding the perfect buyer. Get a free valuation and find out how we can take the hassle out of the selling process. Contact us today!
FAQs
It can be just as difficult, perhaps even harder, to sell a Ferrari than purchase one. Automotive manufacturers produce several hundreds of thousands to millions of vehicles throughout their existence. Boutique manufacturers such as Lamborghini and Ferrari, however, may make only a few thousand models maximum.
How do you sell Ferrari? ›
Who Can I Sell My Ferrari To?
- Ferrari Dealers: Dealerships offer convenience and a swift transaction but could undervalue your car when intending to resell it for greater profit.
- Online Auctions: Auction sites can offer large audience exposure, but come with fees and the uncertainty of the final price.
Within the first few years, a considerable percentage of its value is lost, making used models notably more affordable. However, "affordable" is a relative term in the world of Ferraris. As of 2024, the price range for a used 488 can vary greatly depending on factors like mileage, condition, year, and customization.
How much does Ferrari make from selling cars? ›
This Italian company is not only one the referent for sports cars around the world, but a real money maker. Ferrari shipped 13,663 cars in 2023, with total revenues of 5.97 billion euro, up by 3.3% and 17% respectively.
What are Ferraris weaknesses? ›
Ferrari's key strengths lie in its dominant position in the luxury car market, high-performance tradition, and brand recognition. However, the company faces weaknesses such as overvaluation, high business risk sensitivity to market fluctuations, and challenges in adapting to new environmental regulations.
Does Ferrari buy back cars? ›
You cannot sell your new Ferrari in the first year of ownership. It is in the contract. The purpose is to dissuade flippers. If you must, the dealership will buy it back in the first year for the price you paid.
How much is a Ferrari worth today? ›
The price of Ferrari cars in India starts from ₹ 3.76 Cr for the Roma while the most expensive Ferrari car in India one is the SF90 Stradale with a price of ₹ 7.50 Cr. The newest model in the Ferrari line-up is the 296 GTB with a price tag of ₹ 5.40 Cr.
What is the average selling price for a Ferrari? ›
Update chart
| Model | Avg Price | 30 days |
|---|
| CarGurus Index | $27,624 | -0.1% |
| Ferrari | $191,042 | +0.1% |
| 488 | $261,796 | -0.6% |
| F8 | $299,999 | 0.0% |
2 more rowsFerrari can sue you if you use your car with malicious intent. Yes, it's actually true. Two high-profile recent court cases are about exactly that.
Which is the cheapest Ferrari? ›
Ferrari car price starts at Rs 3.50 Crore for the cheapest model which is Portofino and the price of most expensive model, which is Purosangue SUV starts at Rs 10.50 Crore.
Here is the cold, hard truth: anything over 15,000 miles on an exotic car is considered high mileage.
Which Ferrari is collectible? ›
The 250 GTO is one of the most expensive classic road cars, with a concours example pegged at $72 million. Even the 365 GTB/4 is a well-established leading light with a price tag of around $1.5 million.
What is the commission on selling a Ferrari? ›
Our standard commission is 7% of the first $100,000 and 5% of the remaining value of a sale. Who pays the broker fees? What is a consignment agreement? A legally binding contract that gives the broker exclusive marketing rights for the car for a set time period.
How rich is the average Ferrari owner? ›
Most Ferrari owners have an annual household income close to one million dollars per year, or more. Though there are some outliers making between $500,000 and $1,000,000 per year who still manage to afford this luxury vehicle. The vast majority of individuals who own a Ferrari are male, at a staggering 98%.
Where does Ferrari sell the most? ›
The Europe, Middle East, and Africa (EMEA) region was the biggest for Ferrari in 2022 with deliveries of 5,958 vehicles, which was up from 5,492 last year. Sales in the Americas were 3,447 units, up from 2,831 in 2021.
Does Ferrari sell to everyone? ›
Ferraris are limited production vehicles with high demand. You can't even buy one new unless you have a “relationship” with them. Most get into the world of Ferrari by buying a pre-owned model. If anyone could just buy and sell, you would have people “flipping” cars for profit.
Why can't kardashians buy Ferrari? ›
According to Ferrari, there's no blacklist banning people from acquiring their cars. However, the Italian car manufacturer reserves the option to carefully choose who gets access to its most exclusive units. It is more a reality than a myth. And we have an example of it.
What are the downsides of owning a Ferrari? ›
Con: everything about them is super expensive. Tires, tune ups, oil changes. And usually can be only done at specialized shops, which are few and far between and did I mention, really expensive. Most highways, roads in the US are crap to drive one of these low clearance cars on, hit a pot hole and ….
