Unprecedented Ferrari bargains on the way...

What happens is that someone cancels and the car becomes available. I know of 2 430s at Ferrari of SF that this occured with, and they just went down their list, and found someone who was waiting for a car, and would accept that particular car, with it's options, colors, etc. Not a big deal, but they are available, but only to those on the list. I don't think you can walk into a dealership and get one of those deals, but if you are on a list for the car, there is a good probability that you can get one soon at MSRP.

Art

 

I might consider buying your existing car, but you'd have to wipe the dirt off of the visors!

 

You are 1000% correct, Art.
Go see what they quote a walk in.
I was even referred by my Lambo, Bentley, and Aston dealer.Hand carried so to speak and was quoted $345 for a loaded 08 F430
This nonsense that was spouted above may come true someday but not at the present.
Eric

 

Lets see. Please state exactly what you're saying so there's no confusion. I'm stating based on a source I beleive to be totally credible that a new 430 Spyder recently arrived at authorised Ferrari dealer and the customer reneged and the dealer offered and sold the car for msrp. to a customer he had no prior history with.

Are you stating that I'm not being "Sincere/Lying"?

 

Feel free to PM me so "we" don't waste everyones time.
Eric

 

Art

The car I'm talking about was sold to someone not on the list, someone with no prior history with that dealer, for msrp. It was a new 430 Spyder in a very nice color with good options. This is a change and it is a signal of more change to come.

Good traders notice change long before other's do. Husker is right and the direction of the change is very clear.

Cheers

 

LMAO

 

I agree with Napolis concerning change. I have harped in several posts about the F40 market topping, and I observed that some cracks are being noticed at the top. The markets do the same, people rush in afraid of being left behind, then discover they bought at the top and take a beating. I wonder how many people sitting on the sidelines ready to buy will have second thoughts when they see the charts going down....I saw all this in the Ferrari markets in the ninetees, and I may live to see it again.

 

Napolis is right,

All markets can and often do respond this way, bubbles and busts....

It happened to exotic cars in the late 80's, prices got crazy, everybody wanted on to the bandwagon...

Then prices topped out and those who were smart unloaded everything and waited for the bubble to burst.

Prices have been climbing for a good long time while we have been having a strong economy and there were always more people wating in line to buy (and that applies to both the used and the new Ferrari market)...

There were a lot of real estate millionaires created in the last few years that are unloading their assets, including expensive toys, when the real estate bubble blew up recently....

Prices will soften and probably go down (and since dealers are now selling cars for list, that has clearly already happened to the new car market).

It is most difficult to tell how much they will fall since nobody has a crystal ball, but to assume that even a vintage car won't go down in value is simply not true.

All that said, while I doubt that a GTO or a P4 is going to be in my price range in the near future, (I had a chance to buy GTO 3223 for $3,600 dollars in 1966, it was out of my price range then and it is a lot further out of my price range now), but if my business went really well in the next year or so I'd be thinking a lot harder about a Lusso or something like that.

You gotta be able to see the peaks and the valleys and not in hindsight.....

If your funds are in a + state when what you want is in a downturn, buy it....

 

Prices of ferraris are not even at the levels they were back in the late 80s so if they go down over the next few years BFD. Gas was quite high in the later 70s, you know what happened manufacturers started to concentrate on fuel efficiency and basically doubled the oil supply in the US. You know what else happened lots of cars were kept off the market as buyers held on to their cars which they were unwilling to take a loss on and it will happen again.

 

That's one of the biggest problems. But people don't want to talk about it. Those countries need to make it on their own, yet foreigners go over to help equalize them and forget that it's often at the expense of their own country. There's only so much to go around, and someone has to give for others to receive.

 

Does it really surprise anyone here that many owners simply won't see the market free falling until they have to?

Owners who buy cars for love don't care. Those who told their wives Ferraris are good investments have the most to lose.

Just look at the number of cars currently on the market. Any business man who didn't buy for love is getting out if he can. They missed the peak and are hoping to sell before the average Fchatter knows what's going on.

 

I cast my line all the way out, but it still didn't reach the water. Anyone have some extra line they can give me so that I can fish in the Ferrari pond?

 

Can you point me in the direction of the dealership? I'll buy a 599 today at MSRP. I don't bother even going to the dealer, because they have slightly used ones in the showroom for 30K above sticker. Hell, I'd even agree to sell it back to them if they sold at MSRP. Just not in the cards though.

 

Well, you are pretty far from the dock in Oklahoma.... I would just keep an eye out for someone passing through with some fish for sale. Unfortunately you may only find spoiled fish in the dustbowl area, most of the fresh fish is near the oceans...
But hey, you never know!

BT

 

I do think the market is going down in general, especially on non-limited models. It makes sense. The 355 will one day cost what a 348 does and a 430 will one day cost what a 355 does. These cars will always be going down.

How much will they go down in the near future? No idea. If it hit's 50K for a nice 355 GTS though, I'll have to make more room in the garage. My favorite F car of modern times.

 

Don't bother.
His brothers, fathers, uncles, sisters, best friend bought one by walking into a dealership and came out with one at MSRP so he educated me by telling me about the very isolated incident and told me it was the rule.
I tried his technique for months and ended up with an 07 at $35 over.
Eric

 

The bargains are trucks, SUV's and Motorhomes. They can't give them away right now.

 

Father's aunt for short

 

+1

This Napolis dude is always running around claiming he knows a lot about the Ferrari market.

Next he'll be saying he owns the P4/5 !

 

Thank you, but i prefer my way
Quote from Lord of War.
Eric

 

Tru Dat
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Not if the brother has a different biological father and the uncle married into the family.

 

The people in the top .2% of the income bracket are the most likely not to be hurt (and, in many cases will actually GAIN) as the rest of the country are hurt by higher prices. So, not having a crystal ball, my own prediction is that the prices of ultra high-end luxury items such as yachts and exotic cars will continue to climb - because it will increasingly be the ultra rich who are demanding them, as the affordability gets increasingly out of reach for the middle class.