F40 prices sinking fast? Asking below $499k and no takers

In that case limited production number Ferraris are proving to be a better investment than a Dow index fund....Interesting......

 

If you are a seller they are hugely undervalued. Buyers on the other hand always feel gouged.

 

Much more fun during the "hold" period as well.....

 

Agreed !..........err.....ummm.....I'm a seller.

 

Ferrari prices lag the market, too early to make that claim. And they still don't pay dividends along the way.

 

Very true, the fall in cars has only just started. Same as art and yachts.

 

Might have to pick up a pair.

 

car is back on ebay for $450K.....

 

well... not cash ones anyway

 

still more than I paid for mine 3 years ago ...

 

Judging by all other asset classes, a drop to 2001-2 levels may be in order.

 

Love to read all the armchair speculator's comments.... Especially when you note what the same people were saying 6 months or a year ago!

 

+1.

It is quite entertaining. Furthermore if you read some of the recent posts you'd think we were headed for global chaos and destruction. Why not $150k F40s and $350k Enzos while we're at it?

 

And more than what I paid for mine as well ...

Even with the "adjustments" there are F40s that were bought in the $200s and $300s as recent as the last six or seven years. The only people that will experience a "loss" are those who paid a premium for their cars in the last few years. But again (as I said in a previous post) most of the owners of F40s aren't as heavily affected by value fluctuations. There will always be isolated cases - hence the F40 on ebay and the "cheap Enzo." But these isolated cases don't make a market. They're exactly what they are - isolated cases. Will we all of a sudden see F40s and Enzos popping up everywhere for sale? My bet is no. There were more Enzos for sale a couple years ago than there are now.

 

I'm "in" at that price point.

How bout 250k for a 288GTO?

 

I'm in at $250k for a 288! See ... we've already established a "base" regardless of the what the global economy does! Enzos won't go below $350 and 288s won't go below $250 since we'll be standing in line to buy them!

 

Damnit!! One can only dream.

 

Personally I am just waiting for the 250 GTO owners to finish eating each other, then I will have almost 40 cars available to choose from

Seriously, I think that it was important to recognize the impending change at the beginning of this year (which I did, and got some abuse for!) and be realistic. All the doomers & gloomers who are going on and on about correcting values are being redundant. We already know prices have corrected & are continuing to do so. Everybody will be kept appraised... But those that are speculating just how bad it will get are just speculating. The fact is that historically most markets go up and down in a series of lows & highs that are both of a greater value than last time, so the F40 will still always represent significant value. Also as a tangible asset, your broker is not going to telephone you and say: "Im really sorry, it just evaporated today". Check the garage, it'll still be there. I say we should be realistic, but also optimistic. We are dealing with the world's financial cancer. Hopefully the treatment will be successful (it will in time) and the markets will come back strong...





.

 

Even more recently than that...

I bought mine in october 2005 for low 300's (sold it April 08)

Now, a no stories maintenance up to date, F50 at under $395K... I'm back in! I doubt it'll happen! (under $595K I expect...)

 

Joe

In Aug. when a 4 cam went for 2MM I said they would hit 1MM in six months. I was wrong. They hit 840K in three.

Lusso's? No bids on ebay for one marked down 100K from one month ago which was way down from Aug. already. Remember the dealer who told us the Macca in London would get buyers off the fence for his? His is still for sale and marked down from when he made that statement.

There are a lot of people tired of hearing the truth. Hard Cheese.

 

Here you go Joe. This Lusso has been marked down 5% a week by a dealer we all know for three weeks. No bids at the marked down price yet. Remember where these were selling at in Aug.? Five percent a week is like car keys falling out of a Lear Jet:

#237 Today, 01:56 AM
pauls
Formula Junior
Not Subscribed Join Date: Apr 2004
Posts: 280

I've been watching this Lusso on eBay. http://cgi.ebay.com/ebaymotors/Ferrari-250-GT-L-Lusso-1964-Ferrari-250-GT-L-Lusso_W0QQcmdZViewItemQQ_trkparmsZ66Q3a2Q7c65Q3a10Q7c39Q3a1Q7c240Q3a1308QQ_trksidZp3286Q2ec0Q2em14QQhashZitem160298020171QQitemZ160298020171QQptZUSQ5fCarsQ5fTrucks

It was offered for sale without a buyer before it hit eBay. The dealer is a knowlegable striaight up person. The car is a fine older restoration. There have been 5 rejected offers and the car sits. I don't believe that there is anything wrong with this car.

I recieved this email on 10/21/08 on the same car:

This Ferrari 250 GT/L "Lusso" was a normal production model ordered and sold new by the authorized Ferrari Dealer, Charles Rezzagi (Rezzagi Motors, San Francisco, California.)

The original colors were red with a black interior. (During restoration the interior was changed to tan.)

The original owner is not known but the second owner was Oakland, California resident and well know Ferrari Collector / Enthusiast Wiliam S. Hook.

Hook owned and maintained this Ferrari from 1966 until July of 1993 when it was acquired by Bruce Trennery's Fantasy Junction in Emeryville, California and then offered for resale with this description:

"1964 Ferrari 250GT/L Lusso, red with black interior. Purchased in California in 1966 by present owner. Rebuilt engine, new paint and leather, and rebuilt Borranis all within last 6,000 miles. Excellent unmolested example with tools and records.

In December of 2003 the car was sold by Micheal Sheehan to a client in Japan.

In 2007, purchased by our company in Japan and then sold to a long-term West-Coast client.

This Ferrari Lusso was recently traded back to us and now available for inspection, purchase and world-wide delivery.

This is a completely documented, four-owners from new, "matching number" example that has covered 77,359 miles since new.
It is fully restored from "front to back, top-to-bottom" and in need of nothing but a new home.

Offered at $795,000 or approximately £450,000 / 590,000 Euros. (This Ferrari is approved for EEC importation at only 5% VAT and is duty free.)

Please email or ring me for a complete set of inspection photos or to discuss additional details regarding the possible purchase of this Ferrari

Warm regards,





The price has been lowered south of 100k.

I believe something is going wrong with the market and this is just the loosening of the denial.

 

Jim: I know you are a great advocate for "The World is Coming to an End" scenario. Like I said, given your forecast, youll be able to save on insurance on P4/5 as you'll only need coverage for $95k

 

I saw this coming. I gave you facts and figures. I am on the record and you can look at the dates. Everyone was feeling nirvana, and I was warning people to watch out.

Even as bad as it is right now, it is my INFORMED opinion that things are going to get MUCH worse, before they begin to get better.

And every time our government decides to bail out another business or industry, it only makes it worse.

 

What are 360CS prices like these days?