After almost 12 years of ownership I've decided to list my car on the Collecting Cars platform:...
Image Unavailable, Please Login Looks about right price How's the baby going ? Ready to sell the baby yet ? My kids were great, unlike their father
Good luck Adam. It is the iconic colour combo and just about as good as a 360 gets. If you were going to sell, now is the time, although it is almost the eleventh hour.
Indeed - looking at the UK classic car prices, I'm starting to see prices coming down (although not dramatically). People tend to have a recency bias, so prices are initially a bit sticky but over the next 24 months, things will change a lot. I mean seriously, the current RBA cash rate is now 2.85% and in the US it is 3.25% and expected to increase to 4% within the next 24 hours. How long can Australia have a substantially lower rate than the US without further depreciation of the $A? Will the Fed pivot next month (unlikely)? or early next year? Mid next year? This is the big question. Also, if the Fed pivots sooner and inflation becomes entrenched (see expectations augmented philips curve), does anyone one see interest rates being less than inflation over the longer term? Nope - I thought not. Debt is a real issue. The Fed is in a hard place - if it pivots, inflation maybe become entrenched and interest rates will enviably have to increase regardless otherwise lenders are losing money - if it holds firm, a recession will occur (and the magnitude of this is impossible to ascertain at this point) but it seems the lesser of the two evils. Good decision to sell Adam.
Talking to my local Authorised Dealer a few days ago about this. He was saying nothing is slowing down (in new or used) and that people are still scrambling to buy anything available of decent quality. Of course it may be like a failing kidney.. Everything is great, until the day it's not. But so far he reckons it's not showing any sign of slowing down. Those with cash are happier putting it into hard assets like these, rather than watch their cash depreciate at 7+% per year due to inflation. I guess time will tell eh? Best to not look at these things as investments in any event. It takes the fun out of it.
Hmmm this might make a nice stablemate for my 355.. Just not sure I need another mouth to feed... Very nice.
People have short memories. At 2.85%, the cash rate is only 60% of what it was in 2010. Money is still incredibly cheap. And let's not think about 1989. Just a bedtime story for an entitled millennial. The only reason to sell your car now, is if you don't want another. Because cars have never been an investment. Otherwise you've owned it for the wrong reasons. A well maintained decent 360 will always find a buyer. I hope Adam enjoys his 550.
Exactly right. Strange how people seem to think that dirt cheap money is an entitlement. At these low rates, it's still hard to attract savings capital. Buying a $2m house at super low rates and assuming they are going to stay low forever is just plain irresponsible and I have little sympathy for those "suffering". But I'm also a colossal pr*ck.
Yes - agree but the stock of debt is much much higher than before. So interest rates don't have to go very high before people start feeling pain. People start to sell cars due to needing additional liquidity on a personal level - on an international level, bond/money/for-ex markets are already starting to creak due to the international shortage in Euro dollars.
Bond market has been brutal over the last 12 months... You have to wonder when the time to buy back in is. How far has this interest rate cycle got left to run.... Whom knows.
Amazing isn't it? - in the end, it all comes down to what your personal future expectations are. I guess those going down to their local Ferrari dealer have a great future ahead. No debt, no need to finance a car and business is looking rosy.
