It’s common knowledge that many high-mileage luxury cars are available at surprisingly accessible price points. When it comes to V12 Ferraris like the 812, this trend is particularly pronounced. Dealers often acquire these magnificent machines at prices significantly below their initial list prices. This pricing dynamic is unique to this segment of the market, primarily because these high-value vehicles don’t move quickly off the lot, and dealerships bear substantial risk due to potential market fluctuations.
Consider a Ferrari 812 example from just a month ago, initially listed at $385,000. Industry insiders reveal a stark reality: purchasing that car at the listed price could immediately lead to a significant value drop. If one were to trade it back the very next day, the return might be closer to $320,000. This is against an original MSRP that hovered around $460,000, for a car with remarkably low mileage, approximately 5,000 miles.
Analyzing past sales data from platforms like Bring a Trailer (BAT) and Manheim for models such as the Ferrari F12 and FF reveals a consistent pattern of steep depreciation. One should anticipate a depreciation of 40-50% off the original MSRP for models with 25,000 to 30,000 miles and lacking a bumper-to-bumper warranty. Therefore, an 812 purchased today with 5,000 miles for $350,000, which originally had an MSRP of $430,000, could depreciate considerably. Driving it for another 15,000 miles could result in a trade-in value in the vicinity of $200,000 to $210,000. Dealers might then list it around $280,000, potentially selling it for $260,000 to $270,000, depending on their urgency to sell.
Another crucial aspect to consider is the typical ownership lifecycle of these cars. Owners infrequently sell these Ferraris privately. The majority are traded in at Ferrari dealerships when upgrading to a newer model. The private market for these high-end vehicles is limited, influenced by warranty complexities and the overall expense associated with ownership. The optimal approach is to purchase an 812 with a long-term ownership perspective, mitigating concerns about immediate depreciation. While low mileage cars are often sought after, this might not be the most strategic approach for Ferraris. It’s not uncommon for these sophisticated machines to encounter issues. Paradoxically, a Ferrari with 10,000 to 15,000 miles, having undergone warranty repairs, might represent a more reliable purchase than a pristine 5,000-mile example that is now out of warranty coverage.
