Unprecedented Ferrari bargains on the way...

1.yes there were a lot of people in 1991 with cash
2.there are a lot more people in 2008 with cash
2anot those using credit lines those with cold hard cash in the bank!
3.these arent people looking to be seen in them they are people who understand and appreciate what the cars are
4.only a fool would be rollin in thru the hood in a daytona....other than me...but then again im a big fool and they have no clue what it is!!but they sure like the sound of it!
4.yes mike has been sellin fast and furious...he always has..for 25 years ive always said he's owned more important Ferrari cars than anyone whos last name wasnt Ferrari!!but the point is he's selling!! and he aint giving them away!!
5.those with real money arent playing in the markets...they dont have to
6.like everything elese in life there are exceptions to the rule....and then there are those who laugh at rules!
7.we're talking about FERRARI automobiles of limited production...not other regular/mass produced cars!!

 

Those with real money aren't in the market?@@!!? You really lost me now.

Let's make a date six months from now to discuss the Fcar market. Same time, same place.

 

its just been the past 25 years of owning/driving/selling these cars that made me reply to this post!!you should take into consideration that there are people on FERRARI CHAT that actually own/drive/sell these cars and dont just wish!

 

sure..of course i may be in monaco....or the poor house..im hoping the first!!!either way..lets do-it.if its the latter u bring the beer...and ill make you a great deal on a low mileage Daytona!!if your still liquid!

 

thank you for saying what needed to be said!!!!! there are those that do....and those that just talk about it!!!and those small time dealers work on a much less profit margin to boot!!=ba

 

While I'm already enjoying the bargains and hoping for bigger ones in the next few months, it wouldn't be the worst consolation prize to meet up in Monaco if you're buying the Cristal.

 

trust me im enjoying the bargains also and since they dissed one of my clients "Jay Z' i quit drinking Cristal...its either Krug or Dom!!LOL....but to be honest i prefer a bottle from Emilia Romagna.it was one of Enzo's favorites!

 

If I lose I'll throw in a dinner a few miles away in Nice, a wine list you would not believe, all French and Italian, served by beautiful women, also French and Italian.

 

Watch 'High Net Worth' TV show this weekend on CNBC...segment on how the 'rich' are hurting...dumping
everything from the family jewels to the rental in the Hamptons...

Gotta figure F cars fit somewhere in this equation, good for anyone looking to buy

 

I hate when a major network starts spreading the fear, everyone will be in on the bargain hunt! Look at all the people here who think the rich are insulated! Anyone watching the rich knows they have been dumping the mansions for months now. The cars aren't high on the list, small dollars in comparison, but certainly follow the homes and jewels. Jewels and cars are closely aligned, boy toys and girl toys. One goes, so does the other. And oh, the rich are in the market and taking a beating. It's not that they don't still have cash, it's that they go to cash to ride out the wave. Anyone who doesn't understand this has never been rich.

 

Do you guys see the Lussos back in the $150-$200K range, the Boxers, Dino, and Daytonas back in the $70K range, the F40s in the $200K range? Some of these cars have doubled and tripled in values in recent years and am curious about the bubble bursting. Any predictions?

 

Until the Euro, Yen and Yuan come down relative to the dollar it's difficult to imagine the real classics dropping much.

The cars seem expensive here, but relatively cheap overseas.

 

Not sure I agree with this. I don't think a fast Subaru or Mitsubishi is going to quench the Ferrari dream for many enthusiasts. Fact is Ferrari has always been a lousy performance-per-buck proposition. When the 328 was brand new, for example, I believe the Porsche 911 Turbo outperformed it.

I can see prices softening because we're in tough times -- weak housing market, financial markets in turmoil, energy prices at record levels -- but I suspect pressure on Ferrari prices will come as home equity declines and the queue for used 360s evaporates. Softness in newer used Ferrari prices may trickle down.

 

Very hard to predict. The dollar isn't worth as much as it did when F40's were 200K, etc...hence i doubt we see thast level. I do think we will see 350-400K for an F40 in the next six months to a year. It appears some owners have been seeling at what they perceive as a market top, maybe they will buy back in a year or so. The last time this happened, I was too cautious and din't buy anything, I wonder whether I will be as cautious this time

 

I do miss the F40 somewhat and if your predictions are correct of F40s getting back down to $350K to $400K, I am game for another one.

 

+F50

 

No, they are not. This is the gloom and doom that the reporters and "investigators" always try to reference. It's anecdotal, if it's true at all. THINK WITH YOUR BRAIN. If they are "dumping" these family jewels and the rentals in the Hamptons and the Yachts- who do you think is BUYING THEM? OTHER RICH PEOPLE.

It's not like they are letting the bank come and pick them up, guys. Generally, and yes you will be able to reference a minor subset of exceptions, people who drive Ferraris are putting small fractions of their income in to their cars.

Don't let your knowledge and understanding of "high net worth" confuse the reality. The crap you watch on TV every night is fear mongering and produced with the intention of getting people to hunker down and watch more fear mongering.

I'm going for a drive! Maybe I'll put a "For Sale, OBO" sign on it!

 

Certainly it is other rich people buying what others are selling off. The point is they are buying these assets for much less than they would have cost a few months ago.

This is very simple economics. The wealthy are not and have never been immune from economic downturns.

 

Really wealthy buy in the downturn. Sell in the boom.

However, F-cars aren't investments. They're toys and social symbols.
Surely a falling US $ will keep new prices high and thus understay the whole line up?

 

How good a barometer is the F40? There are quite a few of them, unlike some of the other F Car elite.

 

really wealthy individuals do not buy "used " ferraris...they buy classic investment grade cars or they buy new.

 

That would be correct.

 

Not necessarily...Jay Leno has bought numerous junkers and restored them to his liking...

 

Depending on the car a "junker" can easily be investment grade.