The long version

Values sagged hard enough in the late 2010s that a wave of buyers picked up 488s specifically to flip once the market found its floor, treating a genuinely excellent turbo V8 Ferrari as an arbitrage position rather than a car to be enjoyed. That speculative layer has thinned the fleet's honest-mileage examples, though the ones bought by actual drivers — usually people who cross-shopped the naturally aspirated 458 and decided the turbo-lag complaints were overstated — rack up real road miles. Recovery in asking prices is pulling in a fresh round of the same flip logic that hit the trough.