Euro Tanking against the Dollar | FerrariChat

Euro Tanking against the Dollar

Discussion in 'Maserati' started by Portenos, Mar 10, 2015.

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  1. Portenos

    Portenos Formula 3

    Aug 20, 2004
    1,851
    Seattle
    Full Name:
    Carguytour
    I see today - Tuesday - the Euro dropped to a low of $1.068 to the dollar at 9:30PM.
    Is it just me or do any of you feel the bubble has burst? Keep your eye on the Auctions at Amelia Island.
    The Euro has dropped from a high of $1.387 on March 12th 2014 to a $1.06 today. Thats a drop of $0.32. or about 27%. Thats huge.
    Check out Yahoo Finance EURUSD=X Interactive Stock Chart | Yahoo! Inc. Stock - Yahoo! Finance

    As I see it our cars have just taken a 27% plunge as most cars were priced against the Euro because it was high.
    I guess now is the time to purchase some wire wheels and other Italy only parts for your Maserati.
    Those traveling on my sold out Car Guy Tour will enjoy a bonanza of great values this coming Sept and I will be at the local flee markets stocking up on rare parts.
    Funny how the world turns. I can remember when we were dealing in Lira and the dollar bought fist full of the stuff. Something like 2,400 lira to the buck. Those were great times and here we are again.
    How is the Euro effecting you?
    Our Balsamic now cost us 27% less but will I lower my price? No, but it makes it easier to give bottles away for promotion.
    Did the airlines lower their price when a barrel or oil went from $100 bucks down to $30, nope.

    I invite others, especially our European friends to share their comments on the drop of the Euro and how it is effecting the cars.
    Ciao,
    FGM
     
  2. staatsof

    staatsof Nine Time F1 World Champ
    Silver Subscribed

    Mar 13, 2005
    91,362
    Fuggetaboutitland
    Full Name:
    Bob
    Kill joy! :D
     
  3. MRG22

    MRG22 Formula Junior

    Oct 19, 2010
    497
    California
    Full Name:
    Mike Gulett
    Think positive!

    This is a great time for Americans to buy European cars! And for the European seller a Euro is still a Euro.
     
  4. thecarnut

    thecarnut F1 Rookie
    Rossa Subscribed

    Apr 22, 2006
    3,008
    Atlanta
    Full Name:
    The Car Nut
    Mike,

    Very true. I think you will see cars coming back to the USA.

    It is time our Khamsins back :)

    Ivan
     
  5. Falta125

    Falta125 Karting

    Mar 11, 2012
    112
    If i was in Europe i would be hanging on to any collectable cars i had and also gold, the Euro is in trouble and with 18 trillion in debt the US is far from safe, hard to believe the US dollar is at the level it's at, i guess it's a case of the best of the worst... Dan
     
  6. f308jack

    f308jack F1 Rookie

    Jun 7, 2007
    4,300
    Cape Town, South Afr
    Full Name:
    Jack Verschuur
    Agree, hang on to your asset. Money means nothing, values of various currencies are completely loose from any realistic relevance.
    As for cars crossing the Atlantic in the opposite direction: Surely this will happen to an extent, but don't forget that many cars are priced way higher in Europe than in the US, with various causes like specification and taxation.
    Definitvely a great time to buy your Borrani's and whatever spares if you pay with Dollars.

    Happy hunting!

    Jack.
     
  7. JulianMerak

    JulianMerak Formula 3

    One year ago the Australian Dollar bought 1.1 US dollars. Now it buys about 0.73!! It means I won't be buying any cars on Friday but it does mean any car sold here looks much better value in the US. I'm sure the cycle will continue but this in itself will not crash the market unless that was all that was driving the Maserati market. Interesting times!
    I should have spent even bigger at MIE and Maseratisource!
    Julian
     
  8. Portenos

    Portenos Formula 3

    Aug 20, 2004
    1,851
    Seattle
    Full Name:
    Carguytour
    $1.057 today. tick tok, tick tok.
    A bowel of Pasta carbonara just got cheaper. (if you are paying in dollars)
    FGM
     
  9. zudnic

    zudnic Formula 3

    Nov 13, 2014
    1,896
    Vancouver
    Good for American shoppers or those holding U.S. dollars. Bad for American companies who produce in America and sell abroad.

    Also bad for Real Estate, 40% of the Southern California market was foreign buyers, led by Canadians, Chinese and European buyers. Those buyers will disappear now. Even worse to grab U.S. cash they might begin to sell these assets.

    The negatives out weigh the positives.
     
  10. italiancars

    italiancars F1 Rookie

    Apr 18, 2004
    3,338
    Hershey, PA
    Not really it is all cyclical, US buyers be there to buy up the bargains and may start buying up cheap real estate in Europe. Beach Front in Southern Italy anyone?
     
  11. hyenahf

    hyenahf F1 Rookie

    May 25, 2004
    2,603
    good news indeed
     
  12. Villard

    Villard Rookie

    Nov 19, 2013
    26
    FRANCE
    Full Name:
    VILLARD
    Hi all,

    I'm living in Europe.
    This huge change in the € / $ ratio is a blessing for you guys living in the USA.
    For us, in Europe, it's not so good because it's much easier to find decent quality Maserati reproduction parts in the USA than in Europe ! MIE / Maseratisource used to be good, reliable, "affordable" sources because of the currency exchange rate..
    We've no "large" parts supplier equivalent located in Europe, and the italian ones are hugely expensive.

    Guess it's (good) time for you, US citizens to come in Europe, spend some time wandering in the countryside in France, Belgium, Italy... and buy the best available cars...
    And we are still enduring the economy crash, so it still exists many opportunities to buy very cheap "project" or "barn find" cars because a lot of people desperatly needs cash.
     
  13. zudnic

    zudnic Formula 3

    Nov 13, 2014
    1,896
    Vancouver
    #13 zudnic, Mar 12, 2015
    Last edited: Mar 12, 2015
    Foreign real estate is a poor investment when you are using the reserve currency to buy it. You'll never get the money back. Foreign real estate for an American is a really bad investment idea.

    The problem for the U.S now is deflation. The cycle is headed for another crisis. Bigger problem is Americans have nowhere to go. Actually they will likely flee to the over hyped area known as gold.
     
  14. boralogist

    boralogist Formula Junior

    Jun 21, 2005
    998
    Wow....
    Talk about impressive.
    I vehemently disagree with EACH and EVERY sentence above.

    Regards.
     
  15. zudnic

    zudnic Formula 3

    Nov 13, 2014
    1,896
    Vancouver
    The economic data suggest the U.S, is headed for a deflationary collapse. The only data that looks semi positive is un-employment, a number that can be grossly manipulated. Now is just like 07, but even worse, the fed has no ammo left and Americans have no safe place to flee into, except gold.

    By the end of the year we will see a catastrophic stock and real estate crash.
     
  16. velocetwo

    velocetwo F1 World Champ

    Dec 11, 2006
    12,536
    Left Coast
    Agreed the cars will now travel west. The freight companies should enjoy this.


    So far the Amelia island RM auction is more than strong ….many records being broke
     
  17. Falta125

    Falta125 Karting

    Mar 11, 2012
    112
    I can tell you that Southern California is on the mend, traffic on the freeways has become a nightmare, my chrome shop is dicking me around (to much customer work) and my bodymen are becoming undependable,( they work at other shops that are now busy) It has all the feeling of 2007 just before things tanked. That said, we didn't have 18 trillion in debt, so how things will play out in the next year is questionable, keep in mind babyboomers are dropping like flys, ten thousand a day according to the government, and every country in the world is printing, printing and more printing.....
     
  18. bundas

    bundas F1 Veteran
    Owner

    Dec 31, 2005
    7,090
    lexington ky usa
    Full Name:
    mitchell barnes
    hit 1.04 range. reality is setting in on the BS countries. a sudden lifting of car values is not good. but I was never interested in pricing. cars are not my income source. and discussing price is degrading. my opinion.
     
  19. au-yt

    au-yt F1 Veteran
    Silver Subscribed

    Aug 13, 2006
    5,834
    Burradoo... Actually
    Full Name:
    Graeme
    The AUD is down to 76c US from parity plus. Lots of cars flooded into Australia over two years and now they are going north and east to totaly different markets.
    If you think the US and Europe are the only places buying cars , who are all those phone bidders....The Asian region are becoming a huge player in the "Car Commodity" market.
     
  20. bundas

    bundas F1 Veteran
    Owner

    Dec 31, 2005
    7,090
    lexington ky usa
    Full Name:
    mitchell barnes
    Sure is a Hugh amount of uncertainty. Toppy pricing on some at the Amilia auction. With So. Am. Greece-weighing on the Euro. And Asia slowing. The only thing saving this run up. So few cars compared to the money chasing.
     
  21. 71Satisfaction

    71Satisfaction Formula 3

    Jul 15, 2012
    1,219
    New York and Norway
    Full Name:
    Art
    Yeah, those were fun times. I spent the spring of 1985 studying in Rome. $1 topped out at 2,200lira. We lived like the Medici. Rented a rooftop apartment off the Campo di Fiori. Spent spring break on Capri. A 1l bottle of Bombay was $5, four course dinner at our favorite restaurant was all of $10, and the owner Bruno would plant a jar of grappa on our table to round out the evening. Don't recall auto prices.

    We each have our own perceptions and outlooks. You're only as good as the actions you take based on your convictions.
    - Art
     
  22. hiltsuk

    hiltsuk Karting

    Dec 31, 2014
    171
    London
  23. velocetwo

    velocetwo F1 World Champ

    Dec 11, 2006
    12,536
    Left Coast
    That has to be the dumbest article. Overall sales are up, more cars sell, a few specialty cars are no sales and it's mixed results? Where is the logic.
     
  24. sherpa23

    sherpa23 F1 Veteran
    Owner Rossa Subscribed

    May 28, 2003
    9,992
    Rocky Mountains
    Full Name:
    Bastuna
    It's the kind of article written by someone who knows nothing about cars or the classic car market. They highlight that the 1973 Carrera RS lightweight didn't sell (high bid of $900k) but they don't mention that the 1973 Carrera RS Touring (my car) sold at a record price of 843 Euro ($891k USD). But I guess that doesn't reek of sensationalism. As with every auction, there were surprises on both sides: high sales and no sales. Nothing new here. In fact, I thought that the auction showed that the market is going more robustly than I suspected.
     

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