Its quite simple really - governments giving away money during Covid 19 and supply chain disruptions - 'printing' money isn't necessarily inflationary in itself if there is productive capacity in the economy but when everything is in short supply, prices jump dramatically, especially when that supply is inelastic (at least in the short term). Sure history has a habit of repeating itself but its never the same (reminds me of F40 windscreens ). How will this classic car boom play out? Well in the last one, when it went bust, they were still making brilliant naturally aspirated manual analogue supercars (Mclaren F1, 993 and F355 around the corner) - this time round, that isn't quite the case.
Completely agree - I particularly love the design of the new 296 but would you want to own one in 20 years time and its well out of warranty? Cars have never been better than they are now. I also think you may be underestimating the power of nostalgia - and in a world where things are changing so rapidly, perhaps people want to hold on to the past even more. I'm also surprised by how many young people still turn up to Cars and Coffee.
I distinctly remember when the 458 came out people saying exactly the same thing, particularly referencing the gearbox. Here we are nearly 13 years later and prices are extremely strong and show no signs of dropping.
Talk to a few 458 owners who've done more than 20K kms and find out how many are on their 2nd gearbox. Roughly half in my experience. What happens in 10 years when replacement boxes are NLA? The repair cost will be half the value of the car.
Hmmm. yes - but the gearbox is made by Getrag, so that wouldn't necessarily be my biggest concern (although judging by Ian's comments, its still a major issue) - my concern would be any model post 458 model with twin turbos and a hot v. There's a lot of plastic and rubber that will be need replacing in a shorter space of time given the heat. Also, I suspect most moderns are packaged not with servicing in mind, which adds considerably to the labour costs of repairs. With your new Lotus Emira, you got a car that compares favourably to the styling of a 488 with bullet proof Toyota powerplant and the simplicity of a manual - no twin clutches to replace after 100K.
Easy - their economy is a shambles and has no 'real' surplus productive capacity. We have been printing money in the West since the GFC and inflation has only reared its ugly head recently - although having said that, we have seen asset prices skyrocket over the past decade, its just that now, basic commodities/goods are skyrocketing due to supply chain shocks. Btw Ian, I'm not advocating printing money as a legitimate long term macro economic policy but it can be a useful tool in the right conditions (ie surplus capacity in the economy) and short term stimulus until other supply side policies come on stream. But hey, since when do politicians think beyond the 3 -4 year term.
308GTSi on gumtree. https://www.gumtree.com.au/s-ad/portland/cars-vans-utes/1981-ferrari-308-gtsi-manual-coupe/1296425009?utm_campaign=socialbuttons&utm_content=ios_VIP&utm_medium=social&utm_source=com.apple.uikit.activity.copytopasteboard
Hmmm not even close to the actual history towards the end…I’ve got photos and pretty sure the full file on that car with the T140…It is well known that the remains went to NZ from Australia in a deal Dad did with RH for IC 3/63 the Stillwell BT4…I went to NZ to broker the deal for Dad…RH gave me a drive of his 330 GTC and I tried to convince Dad to take that instead of the BT4…
Politicians love Keynes because it gives them a license to dispense largess on one hand and control the business community on the other, "I'm in charge". The mythology of the great depression is that the Keynesian "New Deal" ended it, where the truth is it prolonged it. Hitler saved the politician's faces. Milton Friedman was right all along. Government should not burden private enterprise with regulation and taxes. The problem is that the effects of policy play out over a much longer timescale than the electoral cycle. Witness the wealth that Tatcher and Reagan's monetarism brought to ordinary people a generation after they left office, vs the relative decline of southern Europe with Tax, borrow & spend policies. One thing that's apparent now is that our children and grandchildren will pay a price for bloated public administrations and excessive regulations that discourage private investment and risk taking.
I'm sure you and Ian are absolutely right. I was just pointing out that whatever the issues with these relatively modern cars (458 / 488) it certainly isn't hurting their values (for now at least).
CC's just got back to me. The initial reserve was $500k,it was then dropped to $400k and high bid was $300k. A potential buyer from the US is onto it,aparrently.
To quote a famous line from an Ozzie movie, "tell him he's dreaming". Its a 2valve injected. An ozzie QV is worth that. Grim
"Cough"......yes Adrian,this has been discussed due to the rear bar,you'll notice the GT advert doesn't have a rear shot and only an inkling from a side shot.....is Eugene lurking....: https://www.ferrarichat.com/forum/posts/148589164/
