Was there last week for a sticky beak, came across a yellow testarossa Asking price $270,000 And a Lamborghini contaush for $695,000 Ouch
You're talking about a mob who are flogging 997 Carreras as the next classic Porsche about to take off.
Had a quick look: Classic Throttle Shop - 1989 Ferrari Testarossa 270k is pretty steep but can't imagine there being too many giallo testarossas oz delivered.
It's a big world out there and you should have a look around. The Aussie Peso isn't exactly what it used to be. You can't import a car for anything less. UK car prices should roughly be doubled at current exchange rates to arrive at AUD prices. Go have a look on Pistonheads and see what the real market is doing. You can say that doesn't matter here, but you are burying your head in the sand if so. Funny, you will turn on the news and look at 'world events', but ignore what's going on in the hobby you seem to support. You may complain about the prices if you missed out on buying, but the comments above only indicate ingorance. If you are an owner and want to give away your pride and joy for a pittance, ring me.
Its worse than that, about 3 times when you include the Luxury Car tax and GST. A 180K pound car is around $550K AU landed at the moment. M
yes Mike, that's the truth. So the TR at CTs could be worth up to 400ish. As I said, people should have a look around. Problem here is no one is paying 3x Pom prices...yet. 2x is a minimum though.
im well aware of the idiocy going on in the UK and elsewhere, thank you. All I see are a bunch of fools being parted from their cheaply borrowed money. Anyway, it's easier to view these things more dispassionately once you factor in the vested interests and manipulation at play. It helps too when you're not interested in acquiring the mass-produced fodder which have recently gone crazy (and which will be the first to arse-plant the ground when the music stops). This "hobby" really becomes a bore when all people want to talk about is how much their **** heap is worth and how much money they've made (by accident... and until the wind changes... because it always does).
+1 Cars are a funny thing to "invest" in. The fundamental asset doesn't change. The only thing that drives prices are people buying and selling them. In a business you can grow and expand and be worth more. With a car it's just people's desire.
Right now, the UK market is in overdrive, but it seems to me that the buying hysteria is limited to that market alone, while the US is beginning to cool. It's the small volumes of RHD Ferraris that sustain the buying pressure, plus the fact that it's summer there now. But cars like TR's were built in relatively large numbers, have no competition background, with very well known and severe faults, plus they simply aren't that special to drive, so they are unlikely to hold current prices. Same goes for most modern era Ferraris (apart from the supercars of course).
So what you're saying is that you're not going to rush out and buy a Testarossa for $400k or a 308 for $600k? That's crazy talk. Ferrari prices only go one way, remember. I'm not one of these Warren Buffett groupies, but I think there is some wisdom to his alleged quote 'be fearful when others are greedy'. Applies to a few asset classes, I'd say.
Indeed, that seems to be the case! Someone asked me this morning about the unrelenting ramp up in 1970s and 1980s car pricing and he reminded me that I told him it would all crash in the middle of last year! I think the reason it hasn't is probably a combination of 1. cheap money and 2. only a certain number of cars to chose from. Even the testarossa where they made over 7,000 (Not including TR or F512M) and about 450 or so in RHD, doesn't leave a lot of choice. Even RHD 308 GTS Qv, a relatively common 308, number only about 250 in RHD. One thing for sure, Australian's do seem a little behind the curve in terms of pricing.
The clients that CTS have arnt your Carsales type enthusiats crowd. There are clients who have a wish list and when cars come onto the market they are sold word and mouth. At present from what I have been told they are struggling to get stock. and a number of cars on the floor are not for sale. The cars on their sold web page arent all the cars they have brockered. What we all need to remember the UK ist the old RHD market with money however it is the only one we have easy exposure to ie Malaysia.
The clients that CTS have arnt your Carsales type enthusiats crowd. There are clients who have a wish list and when cars come onto the market they are sold word and mouth. At present from what I have been told they are struggling to get stock. and a number of cars on the floor are not for sale. The cars on their sold web page arent all the cars they have brockered. What we all need to remember the UK ist the old RHD market with money however it is the only one we have easy exposure to ie Malaysia.
