Will there be any used Ferraris left in the US?

Nope, all used Ferraris will be bought up by August 2008, so you better buy them now while you can!

 

Is your reliable source a car dealer?

 

Precisely. I've had the Euro Mafia walk into my garage with baseball bats, to remind me I MUST sell my car to them by summer

 

Good question. While the market here is sluggish a lot of the good cars (and not so good at the moment) are getting picked off and being shipped elsewhere. This is increasing/maintaining values for more sought after cars here. The really good stuff will disappear gradually as it comes up for sale. Supply vs. demand would suggest that pricing will continue to increase for the better cars and the US market will fill more with junkers.

 

It's been going on for quite some time and not only Ferraris.

 

It has been going on, I had my 1997 C2S Porsche listed some time ago (8 months) and I had 7 different guys from the UK paying top dollar ( can you blame them with the dollar being where it is then & now ) , no questions asked.

 

In many respects, exotic cars are a worldwide market. Prices don't fluctuate all that much. Here in Canada, some people look to buy US cars due to the weak USD. However, many people choose to buy domestically after running the numbers with transport, duty, and other associated import fees.

There is no doubt the US economy has impacted car prices here in Canada. In general, Canadian cars have just dropped in value to become more in line with US cars (after currency exchange). This is due to the US being a much larger economy than Canada.

US car prices will get softer but not by much. However, Canadian cars will get much softer.

We won't see exotic cars exported out of the US in great numbers. There will be some, but certainly not enough to make a difference.

 

Someone do the math...

360/355 spider for $170k- $100k in USA ....now what's the exchange rate today in Euro's?

Add shipping across the pond and any (taxes, fees, tariffs)

How much do you save?

And at what level, do the shipping cost make the money saved, not worth the hassle?

Buying the 360/355 in the USA might work out to a nice savings, but is it worth it on a 348/328/308 at half the price, or does the shipping and government fees eat into the profit to much at the $30k-$50k level?

.

 

I was not aware of the massive loss of exotics due to our weak dollar.

 

It would not surprise me if classics were leaving the country, but I doubt many cars after 1975 would go. BTW, this has happened before. Lots of cars went to Europe and Japan '89-'90. Lots of them came back over the next 15 years at much lower prices.

Dave

 

Its also going on big time with larger boats. Its the only thing keeping that market from collapsing. I dont think it will have a large inpact on the exotic market but it will help keep prices from a free fall.

 

I try to be rather moderate on my views of the global market economy as I find many of the fears and perceptions are driven by fear itself and the propagation of fear in some sort of benevolent-masked subliminal marketing angle; furthermore, the hysteria around these kinds of announcements is typically caused by either a) people with vested interests in the benefit of people freaking out and buying quick before they're all gone and prices go out the roof such as vendors (yeah, right) or b) the buyers in the domestic (US) Ferrari market hearing rumor and, well, we all know what happens when rumors start (e.g. Y2K)

In my field (Economics, Real Estate) I'd say our economy will shift much sooner than all of the Ferraris being exported. I mean, we're still waiting for the dust to settle with the hysteria around the Sub-Prime lending crisis, which, through fear and fear alone, has basically stalled our real estate market here in the Midwest--statistically, there are few if any more foreclosures based on bad lending practice on the market now then there were before the "crisis."

This is a perfect example of a slippery slope... U.S. Economy suffers, our dollar weakens, so obviously all Ferraris will be exported.

IMHO.

 

So correct me if I'm wrong here. I know its gonna take years for our economy to recover from this recession we're in. But I obviously won't be getting a Ferrari anytime soon, at least until another 10-12 years from now. So if I wait that long, will that make my hunt for an F car harder than usual to find even if its a used one I'm in the market for? I sure hope there will be some still around for those who wanna be owners in the future.

 

will all those Euro 360's in the US start trading at premiums to US cars because they are "local" Euro cars when they go back home to Europe?

 

Are you speaking on F cars that are around today or in 10-12 years from now?... correct me if I'm wrong, but isn't F moving towards higher and higher production numbers? If so, I think you will see a Gallardoesque Effect, and there will be a rather saturated used car market, keeping prices competitive.

With higher production I don't think we have much to worry about. And in my own humble opinion, I feel as if the economies of the world will begin to move in and out of recessions much quicker than we have seen over the past decades (albeit there will likely be more cycles) due to heavy globalization, more and more foreign direct investment and a an increasingly fluid free (used loosely) global market.

This is all theoretical... and basically my overall point is: I'm not worried about being able to find a Ferrari for a competitive price in the near or distant future.

Cheers.

 

By the way, what does it cost to ship a car to Europe or Asia? I'm assuming around $10,000, and that is 8-10% on your average 360 Modena these days... and what hidden costs may one incur?

 

I just shipped a 40 footer from Manila to Canada. It only cost $3,500+/-.

 

Absolutely! I'm getting ready to ship my 456 off to Nigeria any day now-- the guy offered my full asking price!

He said as soon as I got him wire instructions and account numbers, we'd be in business...

 

The Euro cars might go back but they certainly won't trade at a premium in the US. The same reasons a Euro car would be attractive to European buyers are the same reasons they are unattractive to American buyers.

 

For 10.000 $ you can ship 8 /10 cars to europe including insurance....

Its not beause its a Ferrari, that shipping is more expensive.

 

I had a quote two weeks ago of $2,200 to ship my Aston Martin in a 20 foot container from Toronto to an Italian port (plus 1% of declared value for shipping insurance).

 

http://www.xe.com/
a 100k Ferrari can be had with all the fees etc for 70k and under EUR

But if you look on mobile.de you see many 360s for 70k and lower. because most of them are already imported cars.

5000-7000€ for all the taxes fees tariffs and immatriculation. Information is from Auto Motor Sport Magazine. they had a nice chart in their jannuary edition with model make year, new / used.

Up to 1/3 on new cars, more for used cars.
Imho for Sport cars the USA new 911s are way more of a bargain then used USA ferraris

=============Prices in USD===========
USA-------------------------------GERMANY
=>911c2
73.5k$--------------------------127.7k$
=>911Turbo
126,2k$-------------------------220.7k$
=>911GT2
191.7k$-------------------------298.5k$


=============Prices in EURO===========
USA-----------------------------GERMANY
=>911c2
46.6k€---------------------------- 81.1€
=>911Turbo
80.0k€---------------------------140.1k€
=>911GT2
121.6k€--------------------------189.4k€

Feels like a slap in the face if a car that is produced in Europe costs, half overseas.

 

I shipped to Germany and Philippines last year by ocean freight. Both times my cost was right at $2,500, including delivery to/from port. Air frieght would have been about five times more.

Both times the buyers found me. How would one go about advertising to European buyers?

 

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