Updated: Jun 3, 2022
We’re not talking about the common sports car production here; we’re talking about a car manufacturer that can sell a mere collector’s item representing the real deal for over $10,000 to sit on your living room bookshelf! That’s right, Ferrari rolls out some of the classiest designer and custom vehicles in the world. When you’re looking to purchase one of these beauties, you can expect to find a price tag that reflects the prestige associated with the name. Even so, there are a few elements that will affect the average price for a Ferrari.
Newest basic Ferrari models range in price from the entry level Portofino starting at $214,533, to the 812 Superfast (able to reach speeds over 200 mph) starting at $315,00. Of course, these figures will climb depending on the additional features that come with your new ride. The new 488GTB is another example of Ferrari finery, able to go from zero to 60 in only 3 seconds (or even less than 3 seconds with the 488 Pista limited edition, starting at $350,000). The basic 488GTB starts at $256,550 and is a classic 2-seater that can turn heads wherever it roars its twin-turbo V-8 engine.
Custom Cars and Specialty Designs
When it comes to pricing on exotic cars like Ferraris, it’s kind of hard to pin down a good representative average; let’s just say that the sky’s the limit! Ferrari offers the option of selecting custom paint, interiors, rims, and more starting in the $250,000-$300,000 range. An example of a more pricey “prancing horse” comes from the eye-catching red Ferrari SP12 EC created in honor of singer Eric Clapton; vented C-pillars, a 4.5-litre V8 engine, and a design exclusively to Clapton’s preference boosts this car’s price tag up to $4.7 million dollars!
Going Once, Going Twice…
Auctions can be a great place to get a used Ferrari at a lower price. As with any auction, the quality and condition of the vehicles will vary as much as the bids. Years and models come in a large variety, and some may be fixer-uppers. The general rule, however, is that buying used cars (even in perfect condition) will save you a lot of money in the initial purchase in contrast to buying new from a dealership. You can find some very nice selections for thousands of dollars less, though perhaps without the same warranties.
One of the best ways to manage your purchases wisely is to research thoroughly before moving ahead. Even though estimate prices can be quoted here and there, you never know when a good deal is going to pop up. And good deals can come arise from different parts of the buying process, from the car dealer to the loan agency.
Research is also critically important in order to avoid buying from dishonest dealers who advertise falsely or ask more than the car is worth. Knowing the details of how car sales work behind the scenes can help you recognize shady deals, and allow you to make decisions with confidence and ease. If you have a trusted friend or mechanic who is knowledgeable on foreign cars, invite them to be a part of your research.
You can also save a significant amount of money by filing an LLC before your purchase. This can allow you to buy your dream car with no personal property tax or sales tax (and with a $200,000+ price tag, that tax adds up!).
After all is said and done, the average price of a Ferrari is $200,000-$400,000. As averages are made up of highs and lows, it’s up to you whether you’re looking to find the best deal at an auction, or wanting to design a one-of-a-kind custom car straight from Ferrari. Whatever you decide, no one can deny that these are some of the classiest cars in the world!