Is it just me or do others think this Diablo is way over priced?...
Is it just me or do others think this Diablo is way over priced? http://www.drive.com.au/used_cars/lamborghini/diablo/melbourne/detail.aspx?id=2406316&pg=1&pp=0&d=0&nv=1 Two Diablos went under the hammer this week in Sydney through Pickles Auctions: 1999 Diablo - Red with Black Interior - Went for a tad under 200k 1997 Diablo Roadster - Orange (the one that was on Drive) - Went for 229k. I may be naive to say this but one would think a 99 is worth more than a 94, and a 97 Roadster is worth a heap more than a 94. So how can someone reasonably expect people to pay $269,900 for a 94 VT? This seems way over priced. Does anyone know what the Diablos are going for on the street? Redbook says 94s are going for 127-141k at trade and 140-164k at retail.
Like a lot of cars listed on websites such as drive, carpoint and carsales, people put huge unrealistic prices on their cars as it costs little or nothing to keep them on there. Remember a lot of people have big expectations on their cars. Only a few days ago did I see a 996 Porsche Cab for near new 997 money. Crazy stuff. Also, I wouldn't read anything into Redbook for a vehicle like this. It s basically irrelevent.
I understand what you are saying (and your right), but what I am looking for is if there is a consensus that this price is over inflated or if this is a standard dealer type price? There has to be some ceiling on how high one tries to artificially inflate the price of a car. I guess one may be able to get away with it with cars that are rare such as Diablos. The thing that is interesting about this is that we are talking about an inflation of around 100k! I would not like to be you when The Reverend Dr (348CH) gets to this thread! I would like him shed some light (like he did with the 348s) on the valuation and depreciation he sees for the Diablos.
What I am trying to say is that these are specialised vehicles and that no book can tell you what they are worth. As far as I am concerned the Red Book and Glasses Guide have very little bearing on even more mundane cars. They are only a VERY loose guide.
not THAT loose, I had the opportunity 3 years ago to buy a fully restored Countach from the Lamborghini dealer on the Gold Coast for $100K. They started out at $180k and every couple of months dropped it $20k and then after my last inquiry about the price when they wanted $120k it disappeared when I went back to buy an Alfa from them. I asked about the Lambo and they said the AFP had seized the car as part of the assets of a drug dealer (well this is the Gold Coast) so I said to Matthew "what would I have got the car for ? " and he said $100k would have it out the door. Now this was over a 6 month period and the car was on consignment hence the crazy price and the slow depreciation to realistic SELL price.
Surprise, surprise- I think at least one of these cars was advertised at Lamborghini Melbourne in todays AGE newspaper. Not that hard to corner a tiny market is it? In my opinion a price guide is effectively useless in such a limited and specialised market as Lambo in Australia. My guess is the prices are set more on the condition, spec and history of each individual car and how desperate the seller/buyer may be. The only Lambo's that may have a more general price point are the Murcilardarse and the Gayardo thingo's as they are here in more numbers.
Sorry, no divine intervention here, 'cause I can't comment except I'd suspect most of them are ~20-30% overpriced. The Red Book is not great for Lambos as the market is tiny - getting better with Gallardos though. I was offered an early Diablo at $205k around five years ago - before any haggling started. As with all these low volume cars, the car is worth exactly what someone will pay for it. Find a sucker suffering red mist (like Richardg) and you'll get way over market ($140k+(?) for a 348... hahahahaha). If the only one interested is Carl Jones then you'll get 50c and a sore backside
the auction price is about right. 01 VT is the most desirable diablo, should be just under 300k 99 roadster follows around 250k the orange 97 roadster had been advertised for around a year now, started with 280k i believe. with that kind of money, most buyers would rather buy a brand new sl merc or a porsche than a second hand diablo.
If you want legitimate, non-troll responses, post on the Lambo section of this board. No hostility- just a suggestion. There are some knowledgeable owners and dealers who frequent that section. Also, my sense is that Australia is a market unto itself, and the prices there are higher (leave aside currency issues) than they would be in the States or in Europe for these cars. On the other hand, Australia seems to be a treasure trove for vintage British motorcycles at reasonable prices.
yeah, Australia is prety stupid, the majority of people seem to think that cars are an asset, and place a real intrinsic value on them, so they dont really depreciate like the rest of the world. I had my eyes opened when i last went to the US to see how people treat/use/view cars over there. Just MHO
in america people treat their car like white goods. Someone will buy a Mustang, and assume that they have lost the purchase price, and just use the car and sell it for near enough scrap value. In australia people buy a commondore of falcoon, and then think that it is an asset and must retain some of its value. therefore you see lots of people unwilling to part with their 5yo POS for anything less than an absolute (relative) fortune. therefore this mentality seems to transfer across to all motor vehicles. people here get really upset at the thaught of loosing $15 - 20k in the first year on a Commondore. IMO if you cant afford to straight out right off the money you paid for a car, the car is too expensive for you. there is very little residual value in a car IMO, i paid $70k for my car, and expect to never get that money back, however if i sell it anything i get will be a bonus. Cars are not an asset theyre a liability. did that clafify my warped sense of reality for you?
