Who is buying at current levels?

I'm talking a bit out of my ass here but from the searches I do 2-3 times a week, it seems a few 550s have popped up for less money.

355s seem to be around the same mark but I've seen some slow growth this year, just not sure if they're selling.

360s seem to have softened up a bit as well.

Once again this is from what I see on eBay and a few other sites. Since I got my 355 I don't follow this religiously every day like I used to so I'm not sure when stuff sells.

 

Nobody if there smart..lol
Look at the 360 stick forsale in Canada its down to 100k now.Last month a dealer did 100k drop in price on a very low mile TR512.

 

Not me but it's because my lenders laugh me out of their office.

A quality car at a FAIR price is always attractive, but I agree the dealers are driving a "groundless euphoria" on the 6 speed cars.

Recall in the '80s when the "last American convertibles" were the market hype??

 

I think a bit of both.

I have been shopping for deals like many of you I am sure, Market seems to be in a slump or correction etc for obvious and not so obvious reasons but the greatest cars will always sell, just may take awhile for the newly educated enthusiast to come around sniffing.

I wonder though since all the inflation in the last two years brought up all the various models even high mile high production examples, If they stop selling then how long before many of the speculators fold? Will they keep the cars for the next 20 years or whatever hoping for the next bubble to get going or continue to lower the price and find the corrected value? How long can dealers keep these cars in the warehouse tying up inventory dollars?

 

How much is a Porsche 911? To me that is the best barometer.

 

Which 911? I see the early 911's as still stupid money. I have a 930 & think values have gone a little soft in the last 6 or so months. Stick Lamborghinis are strong. Egear is not though. Plenty of egear Gallardo & Murci's are lingering around.

 

I think the guy's that paid 200K+ for a tr512 are not going to hold off for 20 yrs.They will fold way before then.. They will just try to get there money back and hope that they don't lose.
When you see the dealers starting to drop there price's, the correction has started and they don't want to be stuck with to much $$$stock.

 

No, because I was about 5 years old...

 

Well on some of these, I'd like to think bag holders. I'd be nervous paying 80k for a 328 or 185k for a testarossa. Both were barely half those prices not very long ago. I guess it's all about your risk tolerance and or passion.

 

I ask myself that same question. You have to be really wealthy to pay $200k for a 328 or really in love with it. Same for 200k for a manual 430. Or you have to be a flipper. Or you just didn't know these cars were half that a couple of years ago and not that special.

I guess a combination of the above then.

 

There are people buying at these levels, otherwise the cars would not be listed at the prices they are. A very good customer an friend of mine sold his 550 for 160k earlier this year.

The market is crazy. Cash in while you can, and buy back at .50 in the dollar. There will always be Ferrari's for sale. I think everybody on this site knew the tumble was coming (it's not a crash).

 

You can buy a Ferrari as an investment, or you can buy a Ferrari to drive. My guess is you will be much happier if you purchase a Ferrari to drive. just my opinion.

 

You can buy a Ferrari for both reasons. Of course it all depends on budget constraints and personal taste. At the end of the day you can have the best of both worlds as long as you get the right car.

 

As the stock market goes up, collectibles usually go down, and vice-versa; this has been going on for at least 25 yrs. I do, however, believe that emerging countries like China & India have made collectibles go up to a real and permanent degree. (In other words, I don't ever foresee a running 246 GTS or Aston DB 5 being $75,000 again.)
I am on suicide watch because 5 or 6 years ago I saw a Ford GT 40 (not a repro or continuation) Mk III (the road car) sell at an auction for under $200,000. Woulda, shoulda, coulda ...

 

The Porsche Carrera GT is ripe for a correction. There are over 20 for sale on autotrader, all held by dealers, same cars for the last 6 months to a year plus. All listed for $700k to over $1mil. All overpriced by at least $150k and above. Recent auction data include 2 no sales under $600k hammer price:

2005 PORSCHE CARRERA GT - 193873

2004 PORSCHE CARRERA GT - 194446

 

I just picked up a Murci Roadster Stick for under $200k, I believe these are undervalued compared to their Ferrari counterparts.

 

Any carb 911.

 

Fully agree!

 

I'm totally going to be one of those guys that when things correct and cars are actually affordable again who is ABSOLUTELY convinced his 360 is worth $120,000.

Of course I'm also going to be that guy that thinks he can buy a 328 for $20-30,000.

Depths of recession or highs of recovery. Depends if I want to buy or sell.

 

I"m sorry.. meant to write: "recovery"

 

Dino were barely half there price when they started going up.

 

People who bought the car to drive can hold, they didnt really buy to sell.
Dealers flippers and speculators will hold on as long as they can, but if something is sitting for a year or more it eventualy needs to sell, so these cars come back on the market. Meanwhile new offerings dont get snapped up by dealers speculators and flippers, so these cars are now also competing with inventory liquidations. Lots of cars looking for less buyers, eventualy price drops to appoint where more buyers move in and balance is found.

Maybe countach persiscopos, 288s and 60s v12s are so rare that there are very few on the market ever, so they will hold their price, but mass produced Trs and the like are going to fall, the only question as to amount of fall is at what point do non ethusisasts decide they have to liquidate and how much inventory is out there. Its not just Trs 328 etc, you can see it even with softer daytona prices. Doesent mean Daytonas are going back below 300K but maybe to 500-600k, and TRs are probably not going back to 50-65K but they can go back into the 80-100K range.

In other words prices for many cars may go back to 2013-14 levels the point where the specualtive frenzy started. and some items may fall but not back to that prior level because now they are a reckognized thing and so sit in a different place in the pantheon of car desire. (early 911s, 930s, 997 Gt3's, some Trs, 308s, boxers and CTs)

 

In general & my opinion: The market is a little too heated up- we are in a bubble...asking prices seem to be inflated, and to move product now some sellers have to move down even in this "peak selling season" of the spring. Prices in general are still strong however even adjusting for this.

To me, for Ferrari models that were relatively "mass produced" 328s, 360s, etc- they can easily come down with: (a) a recession, or (b) after a year or two of ownership by people who may not be as hard core enthusiast (generally speaking, on a relative basis) who tire of paying 4-5 figure maintenance/insurance bills, or a combination of both (a) and (b). Assuming a recession doesn't happen this year, I'd imagine you will see a larger % drop around September when some dealers/holders have inventory that didn't sell during the main selling season than say the typical % drop you'd see towards the end of the main selling season..if you want a stick 360 I'd just wait until fall- more so this year than prior years...if you can really wait, wait for a recession (that's how I got my first Ferrari, a stick 360 coupe in 2009) Of course I am speaking in very broad and general terms, and on top of my generalities, you never know the actual selling prices (vs. the small sample you can see on fleaby or via wholesalers data)

Luckily I didn't buy my ferrari to make money on it so I don't track this stuff like a stock, but the original post and discussion is very helpful. I'd be willing to pay a little more perhaps in this market, but nowhere near some of the rediculous asking prices you see. A quick example- I know what looked like a great stick convertible 360 sold for ~$90K, a flipper bought it and tried to sell it for $135K the following week (he did sell it pretty quickly, presumably for less than the ask, but a good amount more than the $90K). I was interested at $90, no way at $135K!

 

Sean- you wrote your post the same time I was writing mine- I agree with your observations/thoughts