GMP situation

That GMP stops its production, it is very sad indeed, the hypothesis which you advance is everything in plausible, BBR can possibly take their program

 

Since this is true about GMP, this will drive up prices on their current available 1:18 Ferraris... Buy them now I say!

 

Mark is a member here, perhaps he will chime in. He's posted a response to these rumors on one of the diecast model forums. In a nutshell he says that their problems are exclusively due to the closure by the FDIC of one of the banks that provides their financing.

 

Our business is funded by two loans through a local bank. In 18 years we have never missed a payment, however this local bank was recently taken over by the FDIC and resold to another bank. Included in this process was a reappraisal of all commercial property. The values around here have declined just like the rest of the country, so the collateral value no longer supports the loan value. As a result, the bank is not going to renew our loan. Their loss/share agreement with the FDIC is more important than keeping a successful small business going......

We started another company three years ago called ACME Trading Company which has run alongside GMP from the inception, but is owned by myself and Mat Long and our finances are completely seperate. ACME makes some full size car parts (even vintage Ferrari stuff) but also has our own 1:18th molds, some we purchased from GMP last year, and others we lease from another company so as much as possible we will now continue where GMP leaves off. However, final disposition of the current GMP molds has not yet been determined. We have looked at several options, and there is a good chance we will still be involved with them, but it will be some time before we have a clear direction.

FWIW, none of the scenarios previously put forth in this thread are currently or ever have been under consideration.

In closing, please do not give up hope for seeing the 512s or long tail 312s.........I still want them for my own collection too!

 

Thank you Mark for your complete answer.
You have all my support.
I wait you to complete my collection.

 

We started another company three years ago called ACME Trading Company which has run alongside GMP from the inception, but is owned by myself and Mat Long and our finances are completely seperate. ACME makes some full size car parts (even vintage Ferrari stuff) but also has our own 1:18th molds, some we purchased from GMP last year, and others we lease from another company so as much as possible we will now continue where GMP leaves off. QUOTE]

Reminds me of the store where 'coyote' buys his stuff to try to catch the 'roadrunner'!!!!

 

Any update on this situation? I still want a 512S Coda Lunga.....

 

Not yet, it will probably be another month or so.

 

Hello from Germany,

yesterday I got a GMP 330 P4 Berlinetta. There's a huge sale on ebay Germany with EUR 1,-- starting bid.
O.k.; I would personally never justify the original retail price, but what I paid is o.k. for me.

I think, with wages going up in China this whole market with 'high-end' diecast models will disappear. At the moment the market remains static and I it makes sense for me, that banks are pulling the plug.
Sorry, but I fear, we will never see a 512S out of GMP's tooling.
I earn my money in the injection moulding industry and have a 'slight' insight into the costs and effort of toolmaking.

Exoto's Alfetta for more than EUR 500,--.... crazy.
I wonder, how things go on at CMC.

Best Regards

Martin

 

I am hoping to see the 512 series made more than anyone. The cars are excellent, and in many ways the best we had ever done. GMP is talking to a couple of people who may be able to make it happen, so we're hoping it will.

Production cost increases have become very difficult to bear, but it is up to us to find better factories, and new ways for production at acceptable prices. I think we will see much more composite/resin use to save on tooling in future products. I am surprised by CMC and Exoto going to the $500 price point too. $300 was over the top for many, but $500 is a whole other level. CMC is at $750 for the large hauler.... Excellent products without doubt, and very talented/nice people too, but it will be interesting to see how they move at this price.

 

It is getting a little expensive. One thing I have noticed is that this has brought some back to model building since they can't afford the big diecasts anymore. A cheap plastic Revell kit is just over $20.00 and a super high end resin/metal kit from a company like Hiro will cost you less than $300.00, and they have full chassis/engine detail. You have to be able to build(or learn), and you would have to limit your video game/TV/computer time but in the end you would have something you did yourself.

Tom Tanner/Ferrari Expo 2012-Chicago March 2012

 

I don't want to build models either. I just think that is something different altogether. Of course, there is a balance on price whereby the higher the price the fewer you sell. If you don't sell enough you don't make a profit, of course. I don't want to pay any more than I have to but if I want a model enough, up to a certain point, I will pay what's necessary. After all I will only be buying 1 or 2 or perhaps 3 high end models a year.

However, the CMC Ferrari race transporter is a good example where I would really like one but at the moment I think it is more than I'm prepared to pay. Maybe my desire will increase and I will ultimately pay that much. We'll see.

I do hope GMP can resolve their issues both for their sake and because I do really want the 512!

Jonathan

 

you are 200% right. I never thought, that I would ever go through the hassles of modelling, but this is my personal result BECAUSE I was not willing to pay the price for my favourite 70's F1 Ferrari; Exoto's 312 T2.
So, after a longer period of patience, I purchased a Protar 1:12 kit for less than $100,--.
And I like it better, than all my Exotos or CMC cars.

Best Regards

Martin
Image Unavailable, Please Login

 

Mark or Eric:

I don't frequent Ferrari Chat often and just came accross the discussion about GMP.
Sorry to hear the news about GMP. There are GMP models among the 4000+ in my collection.

I have made over 200 business trips to China and Taiwan since 1987. Some Chinese friends who I have been buying models from for over 10 years recently opened their own factory. They have asked if I could help them get some additional business. They currently do resin only in 1:12, 1:18 and 1:43 to BBR and Makeup standards. The factory is new so they are hungry but the management and staff have a lot of experience.

Sorry for not putting this in a PM but I can't figure out how to do it on this site.

I would be happy to put you together with them in case you are still interested in pursuing production of models.

Did you know there is a model car show suppliers show coming up in June in Shenzhen?


Best regards - Todd Radke Chico, CA

PS - Mark: I also own two Lancia Scorpions

 

I'm a collector of modelcars for the past 24 years starting the 1/18 section with the Bburago F40. I own about 200 Models mostly high quality models such as Autoart, Kyosho, Exoto, BBR but also MG Models etc. I also do build models or Transkits but onyl if the model is not available as a diecast or ready build or just way to expansiv as build model. I would love to see more manufactorer selling just resin kits of rare models especialy in 1/18 because there are not many kits in this scale. For exampel I wonder why no manufactorer did build a Lancia Ferrari D50 yet or a Bergmann Ferrari or ... sorry to many to mention.

 

Thanks Todd!

I got your voice mail and will call soon.

 

Any updates? I'd still like to see a 1/18 512S Coda Lunga.....

 

At this point, it is not looking good. We have another manufacturer interested in picking up the molds, but both of us are not able to find a factory who is willing to produce them.

The detail level is extremely high, and there are very few factories willing to product models requiring around 1000 pieces.

We have not given up yet, but it is a difficult situation........

 

Mark... I'm assuming CMC said no to the model?

rob

 

I hope this gets worked out. I've always liked the 330 p4 model and was hoping to buy one within the next few months. Were you still making them before the bank stooped funding you? Sorry for my lack of knowledge.

 

Mark, I really hope things work out to the point where you guys can produce the maximum amount of molds possible from the GMP catalog, and perhaps some new molds as well. I own several of your musclecars such as the 1970 Plymouths, 1970-72 GTOs, and the Ferrari 330 P4 and the 1965 Corvette from the Masterpiece Collection. The level of detail and quality on these products is every bit as great as it is on much more expensive 1/18 collectibles. All GMP/ACME products are reasonably priced, but even the Masterpiece Collection cars are a steal compared to Exoto, CMC, and BBR models in my opinion.

Would I be going completely out on a limb to assume that one of the "too big to fail" banks wound up with your business loans? I know I probably shouldn't go off that tangent in this forum, but I hate seeing successful small businesses get burned like this.