If ferrari is so great

The almighty greenback is a powerful thing.....

 

Some people would sell their own mother to make a buck...

 

some people probably dont care what car it is. They just invest in it to make a buck.

 

No different from buying and selling a house

 

Cause they are still just cars.

 

If you can make a few from your passion then Y not. You can drive it for a little flip it make 100K and then you can buy one later for less, plus thats one more good check by your name at the dealer.

 

Dealers used to not like that kind of people. Maybe it has changed now that they to can sell at market price..

 

some people would rather have the money than the car.
and perhaps some "need" the money.

Ciao
Life is too short not to own a Ferrari and be an F1 racing fan.
Now, go take on the day.

 

I wouldn't generalize from 'Ferrari is so great' to flipping 430s. Fact is, a lot of people on this board have owned their cars for many years and don't plan to sell even when they could make a tidy profit.

Also, there's some stat about how many Ferrari owners own multiple cars - I think it was unusually high (30 percent? I'm guessing...) It was the kind of number you'd expect for Hondas, not expensive and attention-demanding exotics. Pretty cool though.

 

After you are around Ferraris and the people that own them, you begin to realize that there are several very distinct sub-groups of owners. They buy Ferraris for very different reasons.

1. Investor/collector. Because of the limited production numbers and high demand, Ferraris naturally appeal to folks who want to make money. Just look at Sports Car Market - under a thin veneer of being an enthusiast, Keith Martin is all about catering to a market that primarily rates the car on its investment potential, and manages selection as you would manage a portfolio.

2. Bling. The status crowd. They know it is an expensive car and need the status boost; while not limited to Ferraris, the popular press writes about them in their "Megabuck Ferraris" - Britney Spears, etc - and this is self perpetuating as other celebrity seekers continue to buy them for the Bling. Usually move on to Lamborghinis...

3. Enthusiast. Loves Ferrari history, follows formula one. This set is usually identified not so much by owning a car, but the giveaway is that they have Ferrari BOOKS and models. There is a subset that focuses on vintage cars with their special appeal, but they are still a part of the enthusiast group. This group also includes but is not limited to the folks that work on their own car, the racers, etc. The great thing about this group is that there usually is no caste system, e.g. Jim Glickenhouse is happy to talk about 002c and hear about someone's 308GT/4. There are some Group 1 snobs in this section, but by-and-large, this group is the "car guys". In fact, an owner that puts down another owner for what Ferrari they have generally is a sign of exclusion of the guy making disparaging remarks from being a true enthusiast, and relegate themselves more to another category, i.e., they just don't get it. There are also Lambo guys in this true enthusiast group, just seemingly not as many.

There are probably more, but this is just an intro to show that you definitely cannot lump all Ferrari owners in a single group (...unlike Morgan owners. )

 

Bah, ive been doing that for years!

 

What is your source for saying that a "large majority" of 430 owners are flipping? I don't believe that even a majority of 430 owners are flipping.

 

I was under the impression that most dealers would frown upon this practice, sometimes to the point of not allowing you to order another new car from them in the future.

 

The good thing about selling is you get the money. The bad thing is you don't have the car anymore. I'd rather have the car.

 

A Ferrari is just a commodity, like many other things. If I could put a deposit on new Ferrari, sell it on day one and make enough to buy another Ferrari to keep, I'd be there (probably at the back of a very long queue!).

I think guys that flip them are not necessarily enthusiast, they just have the ways and means of doing this. If someone is crazy/wealthy/happy enough to pay the premium and feed the supply like this, then let it be, no one is forcing the sale or purchase.

Jamie

 

Great, great cars however.

 

Yes, please identify your source that allows you to quantify "large majority".

 

Great responses! Why do stupid Americans watch American Idol? You have your answer.

 

To perv on girls?

 

For the one non-American judge.

 

Isn't the diff between MSRP and market price over $100k on a 430? Yes it's a great car, but if I were in that position I'd flip it in a second and use the gain to add something else to the collection. Heck, they look like a 360 anyway, it's not like an Enzo or anything.

 

snj5 has a good answer, as do others. Another factor might be dealers sell to their 'friends' who they know will put very few miles on the car, then flip it through dealer and both dealer and their friend make more $$$. This situation is done time and again through many dealers within the USA.

Quite frankly, it is just a car and another way for people to make money. Besides, only someone with a lot of money would hold on to a new mass produced (anything over 500 examples) model, as their car's value will drop like the stone the moment a new model comes out. Look at the present resale values of the 360 and 575 as an example versus what a guy got for the car when it was new and he and dealer flipped it (resold it from MSRP to higher $$).

Moral of story, new Ferrari cars are basically worth MSRP for a short time, then (IMO) idiots spend more. G-d bless the idiots, as they keep the facade of 'rare and desireable' and Ferrari in the same sentence when it comes to new mass produced cars. Real car investors, i would guess, avoid anything new and seek out TRUE rare cars, though that is a league where high 6 to 7 figure numbers float about, not a low-end 6 figure number like newer mass produced cars.