I think they will get there... stay patient. I am watching everything drop and while the Stradale will drop less and possibly not as fast... it will drop. We have seen some 360s trade for $50-60k (decent condition but not perfect), 599GTB trading for $250K or so, and the worst hasn't yet hit...
Stokpro, I don't have the link for the car. The salesman said it's a cosignment car. It has DC (District of Columbia) plates and no stripe. There's a slight dent on the nose (on the bumper) and not what I would call a mint car. I sat in both cars and the one with the stripe is better condition. You can call the dealer for full service history etc. Let me know if you want me to go find out more. By the way, thanks for the link. I really thought that that CS is a clean car.
Congrats John................Glad to see the car coming back up North!!!! It is an amazing car and you will be absolutely thrilled when you see it!! Joe
With all due respect... cars are cars... all data points are valid on a relative basis. $100-120K POS 360s have fallen 50% $300K 430s have fallen 50% $400K+ 599s have fallen almost 50% $240K stradales will fall 50% too 360s are as true a data point as other modern ferraris. To deny this is shows you do not understand economics. I do agree the stradale is a nice car but given the global condition they will not be spared a 50% drop from their high point. Vintage market where cars are truly special and rare is also being affected but time will tell if it will get hit as bad as the modern versions that are being made in such high numbers.
Hate to burst your bubble but I think you forgot one important fact in your economics class. It's called SUPPLY and demand. How many 430s and 599s are there in the U.S.? How many Stradales are there in the U.S.? Unless those stats are identical for all models (supply) then you can't possible come to the conclusion you're making. There are probably five times the number of F430s in the U.S. over Stradales. All the models (except the Stradale) are NOT limited production runs. They are manufactured in multiple years and will number in the thousands when it's all said and done. The Stradale? +/-350 cars, one model year, and that's it.
Doesn't work that way on a relative basis... Stradale supply has not dropped. Stradales were between $200-250K at that supply/demand curve which was already higher than the base 360. And now the market is going down. Stradales will fall in line unless Stradale demand goes up on a relative basis which it will not. I am not making the argument that the stradale will fall to the price of a 360. There is a better supply/demand curve for stradales because of it more limited run of production. But demand for stradales is down proportional to other modern cars and the supply has not gotten substantially smaller. Expect a similar drop. On a wider note... Ferrari made well over 1000 stradales... Even more Vintage and collectable Ferraris made in MUCH smaller numbers (300) are dropping and have fallen 40-50%. Limited production HAS NOTHING TO DO with a drop in prices on a RELATIVE basis. They may start from a higher price but drop just like everything else... Even the Ferrari 250GTO was trading at $10-15 million at the top and now "valued" at $6-8 million. They made only 36! A 250GTO sold in 1989 for $13.3 million then sold for $3.5 million in 1994. This mirrored the % drop experienced by most Ferraris in that same time period.
Matthew- This all sounds very familiar. Did you have a different user name earlier? Gloom and doom always. Taz Terry Phillips
Nope... Just reality my friend. Not doom and gloom. It all depends on what side of the fence you are on. Many of us are watching cars trade hands at the lowest prices in nearly a decade and looking forward to Ferraris getting back into the hands of enthusiasts and car lovers... instead of speculators and investors. F50 just went for mid-$400K... I think it is a wonderful time to be in the market for a Ferrari... This will push down F40s... etc etc... Imagine all of those bankers, etc. in NY having to liquidate their assets... And for those who have no intention on selling - then who cares. Enjoy your car until the market turns around!!!
Matthew - One other point of contention with your argument is your cost basis for Stradales. $240k? Market was always around $200k for good low mileage cars. Occasionally you'd see one sell for more but that did not create a market. Remember that Stradales are almost five years old now. Most with in excess of 10,000 miles. They were $190k to $200k cars at MSRP. Low mileage collector cars still bring close to this. Most of the cars for sale now probably have an average asking price of $170,000 with an average selling price of $155k to $165k. Wouldn't you call that normal depreciation? Probably the LEAST amount of depreciation of any car out there today. My 2007 CLS63 with 7k miles and a MSRP of $102,000 sold a month ago for $64,000. About two years old and almost 50% depreciation! $30k-$40k off a $200k MSRP for a used car that's five years old is negligible depreciation IMO compared to any other vehicle out there.
Agreed... but Stradales at their peak did hit almost $250-260K when nobody could get one in the US. People were flipping them. Maybe that is a bit higher then we should consider. So at $200K a 40-50% drop will be $100-120K... And my original post was confirming another poster who was asking if stradales would get down to $125-130K and I said "I think they will get there... stay patient." I agree stradales are at about $155K or so on sales price and given market conditions all I am saying is that they will continue to head down towards $125K-ish which I stand by... and if the global crisis continues I think we could see $100K sooner rather than later. Is it normal depreciation? I don't know. If one argues that stradales are "limited" production collectable cars I think it may be much more than normal. If the stradale is just another car then it would be closer to normal. But this supports the fact that the stradale is a normal car... Which after driving two I don't necessarily agree with... and I don't think you do either since you have owned at least one Either way... I believe the stradale is one of the best ferrari's made since the 60's (not counting the F40 and 288GTO). So despite, and in fact due to, the financial situation several will find new homes at great prices with people that will fall in love.
