F8 Spiders might be listed at $40-$50K over MSRP via dealers. However, they aren't selling for that amount.
You never heard those numbers from me. Nicely specced cars with lower mileage are transacting at (or slightly above) MSRP. So, the cars have definitely held their value. But, the US market has softened relative to what it looked like a few months ago.
I almost bid and while I have the same color combo on another car I thought my first Ferrari should be red…but at least a new data point has been created for future f8 auctions.
Meh , I think this is the reality of today’s pricing . Willing buyer ,willing seller or maybe the person selling needed quick cash and that was his best offer. Either way well bought.
oh we see VERY eye to eye... I know exactly what it's for and what it means and why it was created.... it's the public that doesn't see eye to eye but that's exactly how it's designed. I LOVE BAT here's another hint to the genius.... over simplified example... 1- I appraise 100 Honda Accords for trade at my dealer. 2, I manage to take them in at an average of 2500 below fair trade vale. 3. I resell them for profit or whatever (irrelevant) 4. who knows about me doing this? my store and its employees, yes... the public, no.. anyone else, no 5. oh wait! I just had a brilliant idea. What if somehow it was public knowledge what the average $$ I gave for those Hondas was. Would that benefit me? 6. oh boy, that would allow me to continue giving that amount or even less for the 101st accord that comes to trade to me. 7. The public would think its fair market value since that's what the last 100 people got for theirs, right? ...hmmmmm 8. Im thinking... I'm close to a plan, .... gimme a sec... I'm on to something.... 9. ooh oooh I got it!! Let's set up a public auction type of website where the sale figures get disclosed! Of course, it has to be open to everyone and once in a while, some random someone will bid n win. But overall, I'lll buy those cars for the close to the same number I would give on trade value. Sure I'll lose some cars but I don't care... I'll be able to buy 85% of the cars I would've had anyway and there will be a published avg sale which people will think is 'market value' for x car when in reality, its wholesale value.. but the general public just DOESNT know what market value is....All they need to be convinced is to see it in writing enough times . I'll turn around and sell those cars at the same profit margin I would have if I just took it in trade and it will be in line with NADA LTV for financing. 10. and as for exotic cars, the real genius is that cars between 300 and 700k are VERY VERY VERY difficult to sell.. So, I'll barely lose ANY of those cars that I send to BAT to some random bidder in some state somewhere.... I'll get 98% of them right back on my lot, owned cheap, now with an advertised market price and then I'll sell it for its correct number and be primed to do it again and again will all the justification in the world to offer the next guy 390k for his 22 F8 well optioned, low mileage spider... and then I'll sell it for 450 and no one will know.
The auction market is a niche, not everyone is comfortable buying that way especially if the seller is private and not a dealer. And when you go to the traditional car websites (auto trader, ferrari pre-owned etc) you do not see auction listings at all, so not everyone is even aware of what is currently available as all these BAT auctions are short term ads with none being more than 2 weeks (from what I have seen) And, for this specific F8 auction, the seller and buyer are less than 10 miles apart (Pompano Beach and Boca Raton FL), I am certain they know one another, it was just a odd way to do what is a 'wholesale' trade...but given the car's winner is a dealer it will definitely be re-sold at a higher price...
"Anything worth doing, is worth doing for money." "In the desert you find nothing. No man needs nothing."
If you’re referring to the vehicle mentioned in post 190, it did not have “burnt” turbos. Sent from my iPhone using FerrariChat
Seems like @05F430F1 is saying: Dealers will ask $40-50k over. If you buy from a dealer, you may pay less than asking, but still well over MSRP. If you're willing to buy straight from an auction, you can pay around, maybe a little under MSRP. I think Todd is just saying that transactions that involve a new owner (one that takes the car home) overwhelmingly happen between an individual and a dealer. And conversely, <5% of bidders at auctions for F8s involve a new owner. Hence his statement that BAT results are more like a wholesale prices than the price a typical new owner would pay. I have no idea if those facts are right, but the logic seems reasonable. And this auction result is consistent with that narrative. If this car doesn't eventually sell to an end consumer for $20k+ over MSRP, the winning bidder either (a) made a mistake on this one or (b) won't be in business as a dealer for much longer. The thing that makes it confusing with BAT is that new owners COULD bid there. But if they mostly don't make winning bids for cars in this category, I have sympathy for his argument that it's effectively serving as just another wholesale clearing house.
Yes, that’s quite accurate NGooding and that’s just a piece of the BAT ‘market price’ illusion. But you are right, ANYONE COULD just buy the car on BAT but it’s pretty fricken rare that an end buyer does so on these type of cars. This platform as well as many others are what contribute to weird carfaxes saying there are 1,2,3 or more previous ‘owners’ than there actually were. Ever see 3 year old cars that say 5 owners and wonder wtf? It’s USUALLY because a dealer or dealer employee that bought the car to resell but had to title it in their name for a minute for various reasons before re-selling. I know someone will come in and say, I’ve bought 5 cars in the 2-600k range from BAT and all for personal use etc… and they’ll think that because they have done it, that it’s common…. But it isn’t. Even when you ‘see’ Joe blow won the auction on x car on BAT, many of those are simply a sales manager or GSM or even a salesperson that is using his own account to buy … but with dealership funds. He may buy the car and finance it in his name and drive it etc while, all along, it’s still immediately available for resale by that dealer. Which is another way that an ‘owner’ get reported to carfax. Sent from my iPhone using FerrariChat
Should be a new market bottom for an F8 sale on this car I bet: https://bringatrailer.com/listing/2020-ferrari-f8-tributo-8/ F8 prices definitely crashing/coming down hard.
