Official Countach Value Thread

and 3 years later, you will regret to have let it go for that... as I'm regretting to have sold my Miura #3015, 3 years ago...

 

i still regret having sold the red LP400S today...after 5 years almost

this said i am not sure these cars can go up and up and up forever... at a certain point the market has to calm or they will go suddenly down

 

Olivier,

That is an interesting statement.
The Muira prices were not growing in a market bubble. To show evidence of a bubble, and if you have the information the Muira price appreciation curve over time would be most helpful. Then we could graph that against the current Countach price evolution from cars age 15 to 30. Not an easy job as model and conditions matters, but any variation would show any bubbles hitting the CT. Was the Miura ever close triple in less than 2 years? ( I never followed its value closely)

 

You can't touch ANY countach for under $250K USD.

 

Understandably, Countach owners are pleased to see price increases, but, the only ones benefiting from the current bubble and making any money are those selling, or involved in the sales process.

Food for thought.

Additionally, we should never forget that in any market scenario, what goes up must come down.

Lets illustrate this concept using a Countach LP400 (1120204) in recent times over a relatively short span of 4 years:

2007 - 1120204 sells at auction in Monterey, CA/USA on August 17, 2007 for a total all-inc of $533,500.

2011 - 1120204 sells at auction in Goodwood, Sussex/UK on September 16, 2011 for a total all-inc of $288,000.

Net loss to seller approximately $245,000.

A million dollar Countach can easily be a $500,000 car again when the market corrects.

We can see all the early signs of a market correction too, with major collectors (who can afford anything under the sun) beginning to say: "This is too rich for even my blood", and "at these numbers I'm out".
We can see people beginning to borrow money to buy cars.
We can see people buying cars who are in fact not that knowledgeable about what they are purchasing.
We can see owners & dealers fanning the flames of of dreams that will soon turn into nothing but smoke & mirrors.
We have seen it all before, several times within this generation, and as surely as night follows day, we will see it all again.

Remember the time-tested old saying: "A fool & their money are soon parted", and with that in mind my advice is to take a cautious approach to the market. There are still good deals to be had here & there, but, as always do your homework.
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Nailed it Joe.

Are you seeing this JUST with the Countach market, the Lamborghini market, or the entire market? I'm sorry, but I now see Espadas looking for a quarter mil, and 190 SLs reaching for more than 200k. Wow.

Borrowed money...........we all know how that goes.

In the interest of self preservation, I don't understand why current owners cheer on such dramatic increases. Unless you are so blind as to not recognize the possibility of a correction, you should also recognize that a potential crash will also sour the reputation of the brand for a generation to come.

I'll try and get off the soapbox for a bit, but the last week has been eye watering absurdity.

 

Its a lot more fun than cheering on dramatic decreases ;-)

-mick

 

Purely for the purposes of illustration to show what can happen when a market corrects.

I humbly suggest that this car and the aforementioned illustration are a perfect example to make the point about the inevitable cold reality of downside potential.

Some seem to be focused only on the upside, and understandably they are Countach owners (such as yourself) or those selling one. As Mick suggested, its a lot more fun pretending markets only go up. The reality is, they don't, so anyone giving good advice would also discuss the downside. Don't forget, years before Countachs meant anything to serious car collectors, I went on record championing their upside. Now, its time to suggest caution, and the illustration above makes the point well.

 

I agree as well. The economic climate has taken a modest upturn and there are those who are moving money from stock holdings to other tangible assets with autos being one of them. Some are buying multiple Lamborghinis with hopes that this rising tide will sustain. Tides do recede, however. I don't think those who covet owning a Countach some day are out of it just yet.

 

We may see a bubble, I am with you here, but please explain what the difference between a Miura SV and a LP400 is. All this can't happen to a Miura SV?

 

There is no where else to put your money,,,,,,stock market, art, or cars

 

The way the car market works is not uniform. Certain cars come to prominence and exaggerated attention, whilst others languish relatively unnoticed. The latter are where the deal still are.

The Ferrari Supercars market has always been a little more logical & uniform, but, it too is pretty hot right now. But nothing beats the leaps & bounds by which Countachs are ascending, and you'd have to be very naïve not to realize that this spells trouble.

When $145k-stickered Countach 25ths were re-selling for $375k in 1990, you had to know that scenario would not last, and for the next 20 years they became $75k-$100k cars.

We all applaud classic Lamborghinis gaining steady value with time, but, some of the current increases are both unwarranted & silly.

 

Absolutely, yes it can!

FWIW I purchased a Miura SV in 2001 for $140k that the previous owner had paid $600k in 1991.

All I'm saying is, let's be careful.

 

I think I will put my car in Hemmings at a high price and see what happens

 

So true these days.

 

I don't have a crystal ball..and I never saw the Blue car that sold at Auction in person...

BUT when I sold my Periscopa, that was about the nicest one I think anyone has seen for a long time and it HAD all the tools, books, keys and ALL worked on it..when I got $625K for it..I was happy. Would it get more today in this market with as close to perfect as that car was..I am sure it would..but I never look back..

I do think everyone should be buying their next Countach from Joe S...

I mean after all..it seems he wont play the game and sell a car for "market going" price right now..so buy it from Joe at the lower prices he will sell them at..then "flip" it real quick and make some extra money...... LOL

 

Dan, nobody can blame you, you may possibly have impeccable timing! And you know what they say about timing...

 

Yes Joe..........Timing is everything. We will see what happens

 

Exactly ...and that is the problem... I am no economist but the following signs are indicative of a future storms on asset;
1. Very low rates and that will end over the next couple of years
2. I am seeing people buying fun with HELOC again (lessons not learned)
3. Stock market at all time highs that nothing seems to shake (complaisancy)

This may go on for another year. The real question is what is the trigger that will put an end to this? Geopolitics? the Feds tapering for good?
I recall the last 2008 house bubble coming to a stop from a day to the next pretty much! Same with hiring during the 2000 Internet go time. At the place I worked we interviewed engineers for hire 2 days a week! The next week it just stopped! Then the layoff started fast and furious. It was like someone pulled a switch on Friday night. It was incredible to witness.

My personal take, is people buying at these level and above are likely to lose money over the next 2-3 years if price continue rising at this rate.
Seeing some leveling off of the values would avoid a disaster in the making. And that is for ALL exotics.

 

Roy,

I think you may miss the point which you are actually making. Some of us are not selling or buying any countach.
Look at it this way, not so long ago, you sold this beautiful 400 for an eye popping $625K. A record! Today you look like being the one giving away cars at 1/2 price which you spent 2 years getting perfect. Does not that fact strike you as being odd?

 

Good to see some reality & basic common-sense being espoused within the thread!

 

if prices go up like this i think they will go down quick all of a sudden
the market has to slow down to avoid an important correction