IMO the market for classic cars in good shape,with some strong recent local sales. Problem i am told is finding stock.
gents how accurate do yo think redbook is ive sold a few cars in teh last year and each time it was in the redbook retail range. the cars had less km than the range suggested but still - seems to me like a pretty accurate tool for wholesale values. if its close, 599's are at 50% of new value after less than 2 years. www.redbook.com.au be interested to see if you think the value range lines up with what you think a cars "real" value is...
redbook compile their data from sales, not from what is being asked, they base their data on the wholesale price of the car and the mark up expected by a dealer.........as i previously stated a 599 is not worth any where near the retail new car price...the tear up is massive, and Ferrari are not the only ones to cop a hammering. Any exotic suffers a tear up.
Golden rule on prestiage cars wholesale value after 18 months, deduct all the tax when new and you have its value wholesale,unless its a odd ball car like a GT3.
The tear-up at the top end is eye watering to say the least.. not "smart money" at all to buy something like this new.. wait a year and half and reap huge benefits in every sense.. rinse and repeat
all 3. Do the figures on say a BMW,M Benz or Maserati or Aston Martin,its about right,talking wholesale. Best keeping to the classics,golden rule their buy on the clubs,events and or build # of the said model.
LCT, stamp duty and GST and add more for depreciation of the product and becuase a 599 or 612 has crashed it doesnt necessarily mean all models before it crash as well.......the 550 is a good example, say 500+ new and now in wholesale form is flat out at 150k, the 12's of Ferrari never hold their value unless its a carby 12 or odd ball
Goober is 98% correct, with one change "12's of Ferrari never hold their value unless its a 2 seater carby 12 or odd ball" The "odd ball" encapsulates the supercars, I'm sure F50's and Enzos will do well in the future.
they do actually, have a look through the auction results over the last year. A good conversion maintains a small premium over an equivalent coupe, although plexi coupes are the "blue chip" Daytonas for the future.
same with the Boxer pop ups,I would belt them with a rubber hammer. or just leave 'em as thet were standing up. For a while I jammed a bit of wood in either side and kept them up right.
