Ask ken griffin and plenty of others Or another way to think about- how many of the non famous laferrari replacement guys are sub 500m net worth? Kalikow, caiola, ralph lauren, etc
I think the point is a billionaire probably doesn't give a rats ass if they got in line for a purosangue. At that level, they are hitting up auctions to get the truly rare cars- not production wanna be suvs.
those guys arent exempt from the PS, thats my point. and correct, they dont care if they lose money on it. the guys who shld care on the ones who are playing the game but never getting a laf replacement or SP etc
I've said it before, and others have said it here, but the Ferrari 'game' was vastly different when the cars had more modest price points and Ferrari left more $ on the table. Back in the F430, 458, even 488 days, a well-equipped car was reasonably affordable for most professionals, think lawyers, dentists, accountants, etc. Sure, those guys could afford the $200, 250, even 300k (depending on the model & era), but it had more to do with being able to drive the car for 12-18 months, maybe make a little money, or at the very least, face minimal depreciation. That same group of professionals are now not only getting priced out of the initial purchase price, with $500k 296s and $650k SF90s, but that group is also far more sensitive to losing $100k+ in the first year... The "game" isn't worth playing for them anymore, they're not ordering new cars and with the previously stable depreciation no longer stable, they're shying away from the near-new side too, further exacerbating the depreciation. A lot of people saw it coming with the IPO, but not many have any ideas on how to fix it... I'm not sure relying on the mid-9-figure net worth set is a viable and sustainable growth model, which is what's needed to sustain the stock price. Back on topic, it's been a long time since I heard a $200k handle attached to the premium for a PS... as of today, it seems more like ~$125 is the money and trending lower.
I disagree - the other like brands are doing same. If you truly knew IPO - you would have bought stock and X times your money. Easy to be a Monday QB - but it's just not true - look at the 812Comp - 1m premium for the customers that play the game and the XX will likely do the same if you bought into the SSF90. Cars are cars but for when it comes to Ferrari. Heir special Halo car series have doubled triple msrp and that's not going to change anytime soon. I have a Puro - dealer gets it back if I were to sell leaving very little money on the table. Orig SF90's was selling for near 1m - early buyers did well which is a common theme as are the limited editions. The guys in the front of the line to get allocations are doing just fine and Ferrari unlike the other brands does not add ADM with fake names for dealer allocations. Porsche Lambo and other dealers make 100 - 300k on a brand new car. Ferrari does not allow it. 612 FF Lusso - Puro will do much better and if it doesn't it doesn't and follows the history of the others - nothing new.
The 599HGTE in 2010 had an MSRP around $375K. According to the inflation calculator that would be about $541K today. Compare that to a new 812SF and it doesn't appear that prices are much different. Sure, they are making more units now, but there are more clients to support.
Know a guy. Sf90 spider. Beautiful. Delivered 6 months ago. Msrp was 820k range. He is looking to get something else. 3 different dealers - highest trade in offer- 600k a few weeks back. 200k tank in 6 months. It’s not the same game anymore.
I think this is spot on tbh, I know a few people who had every ferrari (355/360/430/458/488 - selling each current model then replacing with the new one each time) up until the 296 where they couldnt handle the inital price and certainly cant justify the depreciation now all were similar professions to the ones you listed
Ferrari is trying not to MC20 itself, but that's the real risk. There were signs of it with the 612, California, FF, and Lusso. That was somewhat tolerated as the main lineup was still prime for "the game". If the balance shifts where all new models except the SE's are responding like the MC20 in the market, then Ferrari will have just done shot their toes off. The SF90 might be the first true "sports" model that has gone done that risky path.
SF90- massive hype. sold out at introduction. Tons of demand at launch. Skyrocketing asking prices initially. Massive depreciation 2 years later. Cant give them away today at msrp - selling for massive discount to msrp 296 - massive hype. sold out at introduction. Tons of demand at launch. Skyrocketing asking prices initially. Massive depreciation 2 years later. Cant give them away today at msrp - selling for massive discount to msrp Purosangue - massive hype. sold out at introduction. Tons of demand at launch. Skyrocketing asking prices initially. .........................TBD
and don’t forget PS was only “sold out” as we were all “allocated” PSs and if you turned down your “allocation” you were black-listed. So we literally had a $600k SUV shoved down our throat.
Exactly. Wait a couple years and you can get one at msrp or probably under (used) which is fine with me. I want one but I can wait. In the meantime I bought a Urus Performante and couldn't be happier for now.
That's not true - I now what spiders are selling for and that's not reality. I will take a minimal loss if I sold today - mine has AF package and good spec. Who knows about the "one" guy you know spec miles condition ... that is "not" the market - nowhere even close and even if I lost 200k you don't think that would be recovered on my XX allocation? Either way - 200k off on Spider is 100% bs.
I’m telling you what was told to me directly by the dealer what the trade in offer for a 800k spider was from multiple offers that they shopped the car- between 550k and 600k. as far as spec- it’s a beautiful car- 800k is a healthy spec. Not bare bones by any means.
Don't worry, I believe you In fact, in my experience, that's a pretty healthy offer. Most Ferrari dealers will not cut a check for an SF90... They'll take it on consignment, but not many will put money into an SF90, coupe, spider, AF, not, any variant.
100%. The conversation was literally ”congrats on being allocated a PS and don’t even think about turning it down. Your deposit is due tomorrow.”
Im assuming you turned it down? Wow- the arrogance. This is not good by Ferrari for the long term. This is going to bite them in the ass big time.
