How much are 550m in Europe now? I feel the 599 is still bottoming whereas the 550M bottomed out then went up and now has stabilized but higher than its bottom. The 550M at least has the gated gb and V12 to save it from crashing down.
That is a good question. You could of course average the asking prices - this will probably yield a 90-100k Euros figure. However, the reality is that there are very, very few buyers out there. The same cars are on sale since a very long time. With patience and good negotiation skills, I would argue that you could get a well-maintained F550 for less than 70k Euros. The market is much worse for Porsche. Sellers won't discount their cars and there are no buyers at the asking prices. The market is like shock-frozen.
Fortunately I am a driver not an investor. I would care less if my F360 drops to zero value, only if it drops dead ;-)
Likely story but my money is on 15-20 years, perhaps more. This is the biggest classic car bubble the world has ever seen. Mal-investment at its finest. If the 89 bubble was a one night high school beer bash (where everybody is drinking smirnoff ices), this one was a collegiate month long bender (fully equipped with grain alcohol and semi trucks loaded with brew). The hangover will keep the general public away from the market for a long long time, just like the 89 one did. Then after over a decade or so people will finally forget and the music will slowly start up again.
I am in the same mindset as Roadking. I don't even own any Gold. I lived thru 81-83,87, 97, 99, 2001, 2008 and now a 2020 virus. But now gas is cheap and I love to drive my 348. Screw everybody! Mn550 Europe has been on a shameless downslide to socialism for years. The E.U. is absolute proof. No Rednecks in Europe please. No crazy fun, loud noises or thinking outside of the fence line. The wall came down in '89 and they then listened to college professors instead of taking Reagan's bait. The whole thing has led to steady decline over there. Ferrari stock( race) was OK. It fell but seems to mirror S&P. Have to watch orders and sales.
remember too by that time (15-20 years out) regulations for gas powered cars may affect a lot of things as well (I hope not, but...can't say what I want without sending this to P&R LOL) I agree with you though on that timeline. Being 34 now, I would like a nice 2-3 year window at the present to suck up a few nice deals of my own. Will it be a $60K DB5 project like 2012 brought me? Nah, but get me close!!!!
How about a Diablo for 68 grand? Come get you some https://rmsothebys.com/en/auctions/fl20/online-only--the-palm-beach-auction/lots/r0331-1991-lamborghini-diablo/870110 https://offerup.com/item/detail/604391149/
After 5 years ownership of 550/599 you only 'lost' Euro 15K...that is a result in my book.Considering what enjoyment you must have had driving those beauties.
you also count with this 15K € the yearly fixcosts ( insurance, maintenance ) and using costs ( fuel ) ?
considering the enjoyment you also may count then the fix costs without them you not enjoy. the using costs then are for the fun
https://bringatrailer.com/listing/2006-bmw-m3-convertible-28/ Check out the comments on this. This guy allegedy paid 32 grand for this car at barret jackson a few years ago. "Someone is going to miss out on the chance to own this amazing car. Haggerty rated it a Top 10 collector car. You won’t have a chance to buy such a low miles, near perfect condition car. It is an absolute pleasure to drive. I took it out earlier today, given the warm weather we are having here in NJ and dropped the top." More wonderful crooked financial advice from hagerty.
Hard to see how someone is going to get ripped off at $19k for an M3. Sent from my iPhone using FerrariChat
It didnt sell. And while I agree 19 may be a fair price today, it wont be in a about 2-3 months. Thats about to be 12-13 grand car here shortly. 32 was a fantasy, brought to you by hagerty and BJ.
Anyone buying a 20+ year old sports car with the idea of making money is a fool. It’s a hobby. It’s something to do for fun. Do you like to have fun? Sent from my iPhone using FerrariChat
I do! Ive bought a few and will buy a few more here in the coming years post crash! Havent even considered buying one in the past 4 years. The last car I bought was in 2016 and it was a cheap but fun car, I instead saved my cash, invested, and was not taken advantage of by any of the clowns mentioned above (barret jackson, hagerty, etc.)
Very perceptive, Hagen, and accurate. It is exactly why extremely high net worth people have been been pouring hundreds of millions of dollars/euros/sterling/yen into serious fine art, truly rare gems and multi-million dollar collectible cars since world governments turned on the printing presses some years ago.
The same "high net worth" people lost their asses doing this in 1989, 2008, and today will be no different. Not sure about the gems though. That's beyond my knowledge.