Warren B sitting on $ 277 Billion cash. Ever wondered why?;)
They are moving in this asking price range, highlighted have sold, several very recently, many have very recently dropped below 380k. Houston was a quick sale, Marshal Goldman moved quick and were priced close to listed asking right out of the gate. Several on here I know are well below sticker, but most from looking just at the options are below as well. New England car dropped asking 40k in a little over a month, it was a lower option car. 2022 New England red 975 335,900 2023 houston red 1511 369,900 2022 Ft Lauderdale dark grey 2151 376,200 2022 marshal goldman red 1300. 377,900 2023 world wide ferrari dark grey 1089 379,750 2023 Rancho Mirage red 668 379,800 2023 denver blue 676 379,900 2022 Long island silver 1654 379,900 2023 New England red 1053. 377,900 2023 quebeck yellow 475 379,900 2022 silicon valley silver 4261 379,991
Lot's of obsession with the values of these cars in the short term, why? Let's say values ticked up 20% for whatever reason, would the thread die?
Easy, Car is good; I want one; its fun to treasure hunt, many asking prices are living in the past and hoping for a profit, websites will indicate "good deal" based on asking prices or what they call market value, which is not accurate. Just pointing out that sales trends (no matter all the high "asking" prices) to me show the cars are moving at close or below MSRP and not the crazy asking prices. I want one but not bad enough to overpay by tens of thousands of dollars. And like I mentioned I think it's fun and part of the excitement to track prices and cars until I find the right one. I am not the person who will buy just any car because it is the cheapest, or way overpay because it is a real close spec to what I am looking for.
But you're only ever looking at a snapshot in time. Let's say you hypothetically buy a car, and you feel good about your deal, and 6 months later the price falls $30k more. Did you overpay? Now let's say you wait 6 months and prices go up $30k, you now will think, shoot, I missed my shot. Meanwhile, 6 months of your life has passed with zero enjoyment of the car other than what lives in your imagination. And $30k shouldn't mean much if you're looking at a car worth $350k+. You should worry far more about your dwindling time.
I think this is more than half of it. Meanwhile, if the person who shelled out for the car is loving it, it's a fools errand. If they were a speculator, then yes....
100% agree. With this price of a toy, life is way too short to be hyper focused on pricing. If someone has no intention of buying, than sure price watching is fun and passes the time. However if someone really wants a car the price difference over time makes no difference in life. I’d rather be enjoying something for 6 months than missing out because I want to get the best deal. I guarantee that when a person’s time on this earth comes to an end the last thing they will think about is the deal the could have thought. Personally the enjoyment while the clock is still running is worth many times any potential savings. I have said this many times before, but I only buy these types of cars with the expectation of losing money. If I break even, then it’s great. If I lose 50k or 100k it sucks but isn’t changing my life, or enjoyment of the car one bit.
as a rule people always talk their book. A buyer wants to price lower, owner wants the price to stay the same or increase. Many wanna-be buyers talk prices because they simply cant afford (or rationalize) the value the market has assigned aka price.
For those looking. Came across this 296GTB that is way under MSRP. https://chicago-lakeforest.ferraridealers.com/en-US/a/used-ferrari/296-gtb/ZFF99SLA6P0293556-1721619668349 MSRP is 483K
Of course yes, if I were selling i would want the most for my car, as a buyer i want a deal. Everyone is different, but for me I don't want the car bad enough to pay way above sticker, which i do believe is way above market. If you have a 296 GTB for sale and someone cuts a check for you at way over sticker, great for you, but I'm just not that buyer. I love the hunt, and if i am spending ~400k on a car i want it as close to right for me as possible. Investment, no, depreciation, yes i.get that but i want to be reasonable in making such a huge purchase.
If you are buying a toy like this and 50 K is going to be the deciding factor you should not be buying it as you must be stretching yourself . If you are in that market and serious the 50k or 100 should smooth itself out from your forward income / investments and the enjoyment is why you buy it. I have always set up my toys as a percentage of my investable worth and not exceeded that. It is a logical way to look at the big picture of your life in my opinion.
However that doesn't mean you should overpay. Being able to afford and/or paying above market because you can are very different.
The other day I heard someone say that you should buy a mega yacht if when you are bored of it, you can afford to give it away. I thought that was quite insightful.
I respect that but it just depends on how big of a player you are, can I afford it, yes, will I pay 50k more than I need to no, will I finance, no, so f you choose to pay over that's fine, but I don't think it's solid to say if you don't pay way over market you should not be buying. 10k-50k is real money, if it was not people trying to sell their cars for the last 6 months hoping for a 40k profit would jump on an offer 10-20k below asking but they don't, and again, that is fine and just goes to show buck is still a buck. (or .30 cents in this world)
Larger boats are on a whole different level. Purchase price is one thing but the recurring expenses never stop, them you have fuel and crew.
Don’t forget those that just want to be able to explain to their spouse, with a straight face, why they lost XX amount on the car when they barely drove it!! Had that discussions many many times and always use the line of you can’t put a price on the smiles you get when driving it.
Think you are missing the point. No one thinks you should over pay on any car. You appear to be obsessed with the values continuing to drop. All cars depreciate. With the rare exception, any car you buy today will be worth less in 6 months and worth even less in 1 year, etc. If you are trying to time the market to get the best deal you may be sitting on the sidelines forever. The point is, if you buy a car at the current market and you are worried about losing 50k you probably should not be looking at this price of a car. I think it’s safe to go into any purchase expecting to lose 10-20%. If you buy a Mercedes for 100k are you ok with losing 10-20k? The same applies buying a supercar. If you lose 10-20% on a 400k it may be 40-80k. If that’s an issue (for whoever reason) than maybe lower the price of the car you are looking at. I don’t think/hope there is a single person that thinks that their current modern Ferrari is worth the same as what they paid for it. Constantly posting the current values is just stating the obvious. It sounds like you may be better off waiting 4-5 years and buying the car when it’s 100k off. The deprecation curve levels off at a certain point and you won’t have to be hyper focused on the costs.
Funny, I was thinking that the other day. Maybe some Rennlisters sold there Pcars and bought a Ferrari and here they are.
