It would have been nice to be offered an allocation and told how great the car was and given an option. Being forced to take it, it didn’t feel great.
Can’t say that I blame you especially when you have been such a good customer all these years. just goes to show these dealers have no loyalty. Especially when you have 6 figure sales guys giving 7 and 8 figure customer attitude.
Maybe this is more an issue with your dealer and not Ferrari? I certainly wasn’t forced to get one nor threatened with any naughty list. You get credit for buying one. Nearly all manufacturers reward loyal customers so that makes sense. But punished? That sounds like your dealer pushing you and not Ferrari
I think crediting and punishing equals the same result though, just how you frame it. Maybe Ferrari invented the game, but seems Porsche, Rolex, AP, PP and others playing the same game now. It is good for the business, at least in the short term. The question is how sustainable it will be and whether they will push it too far.
All you did was confirm that is not the market - if it was the sale would have happened. BaT - where I have bought / sold cars, places a very realistic reserve - obviously they did not hit market value and neither the seller or BaT felt it was market. Many /most guys want to buy it from a dealer and need financing. BaT even if there was a sale is a fire sale for cars like SF90. Thanks for proving that is is "not" market and the AF package carries a stronger value as does the spec mileage etc.
Ok - Unless it's not true - there was NO sale and BaT is not the market on a car like SF90 Key word "Bid To" - not "sold" which means reserve not met. Prices have dropped overall on many high end brands. Look at LVMH stock price. But who did LVMH recently partner with - Ferrari.
Regarding new Ferrari's and take your allocation or you will be on the "bad list" is not in most cases coming from the dealer. Ferrari over the past several years has taken a much harder look and input to the dealers as to who will get allocated/offered to purchase a new Ferrari especially with the initial allocation. The PS for example, Ferrari informed dealers around the world which customers would be offered the first allocations (1,000 units). For those that recall at least in the US, you received an email about an upcoming car. That came from Ferrari not from the dealer. The dealers only found out who got the email AFTER it went out.
Anyone know for sure what demographic they are going for? My guess is 20-40 and a little more diverse nationality and gender? Also people who are more active, more Ferrari events, post about it, and higher miles? Basically the 60-80 year olds that put 100 miles a year on the car are not the demographic anymore. My thoughts from Casa Ferrari last year at Pebble is it was 50-50 with the older 50 hanging on for dear life, literally and figuratively.
I am not sure that The Puro will be as good as the Perf. For now, I am keeping my Puro order but I canceled the others.
My buddy has a beautiful spec at almost 200K off with no miles and no offers. I actually really like it but dont want another car until I sell a few off.
It will be logged in your profile and future allocations to you may be limited. The funny thing is that their tech is so terrible they still cant figure out which cars I have and dont have so I am not sure how they will make decisions.
My dealer puts in my F cars in the F app - shows all spec sessions and locates newer F cars etc shows battery charge recalls etc. As far as Puro allocation - my dealer invited me to the Puro debut in Italy. Crazy what Ferrari spends, the temp building was set up in the mountains for the weekend with ramps going up n down for the cars to circle the audience. Cancelling 12Ci && 296 spider - problem is no 296XX / 12Ci comp which outweighs the loss.
Dustman - I am speaking from experience with BaT - bought and sold a lot of cars on their site. They make the seller set a very low reserve. Listed three cars on BaT last year one sold one did not meet reserve but high bidder raised his offer after the auction and- the other sold later at 150k higher than BaT reserve. I'm simply sharing what I know thru experience. I've listed cars on Super Car Blondie SBX and P car and none met reserve and sold higher a month later. Not many guys have cash to buy at auction and selling a car like SF90 is a fire sale on BaT - newer Ferrari's don't do well there b/c many Ferrari buyers are extremely careful with their purchase.
THIS is why there is going to be a lack of buyers for new and secondary cars going forward. The game doesn’t work any more. In the past buyers could enjoy a car and get out flat even if you weren’t getting the limited cars. Even if you get a limited car occasionally the gain no longer outweighs the losses.
It doesn't even make sense. So you get a 812 comp or Sf90xx, big deal. So what now, then you turnaround and sell those to make up for your losses? I don't buy cars to make money, I buy them to enjoy. Ferrari dealers have ruined the experience. I'm looking at older models now, better styling, no BS with dealers and spend that is epic.
Buying cars you don't really want for VS models that are (3-5 years) down the road that "might" outweigh the losses doesn't seem prudent to me.
the dirty little Ferrari secret is 1 out of 10 end up ahead playing the game in the long run. they are the first to get new models, enjoy them a little, and they don't lose money. 9 out of 10 think they are the 1 out of 10, but end up losing out in the end. Here is to "hope and promises". $200k isn't a large depreciation loss for most of us until you consider that it takes about $4M to securely generate that $200k a year.
I had almost $2m in F cars on order not to mention what I already bought and have and all I get are excuses. I saved my money for things that are more rewarding and fun. I can tell you many others are feeling the same, the jig is up.
I don't know about the exact percentage, but maybe 60-70% of the new deliveries for a model happen after they aren't selling for a big MSRP+ premium, there are already plenty on the open market, and the next iteration (spider, XX, SE) has been announced and even the replacement model announced. I don't have a problem with any of it, but I'm pretty sure in the last few years there were more new buyers that took a larger depreciation loss than they expected. I learned the hard way with Boardwalk, but I was dumb although I had read hundreds of threads here. Went in 2016 spec'd a new 2017 Cali T buying a 2013 Cali 30 right then from the floor. Traded the Cali 30 back when T delivered for about $10k loss (not bad). 6 months later their offer for the Cali T was $100k below MSRP! Luckily Ft. Lauderdale made a good offer trade for GT3 valuing T for only about $50k below MSRP. Mistakes were... Buying a new model in its last year after a new model already announced. Expecting the dealer to offer a "reasonable" trade amount. Expecting the dealer to give you some credit for buying inventory off the used floor and then taking a new order for a low demand model. It did zero, wasn't any further along than if I would have done nothing. Another key variable is Ferrari has started catching the MSRP up to market value, I always suggested they did that to cut down on the games and flippers. They might have pushed it too far and forgot a big benefit of the game is getting rid of inventory no one else wants.
In regards to resale, this /\ and the fact that they build so many cars now and they will sell a new car to anyone that walks in the door. This doesn't bother me so much but spending hundreds of thousands of dollars and begging for an early allocation or a special model in return is stupid.
Do they build that many more or do they build just enough more to supply the new dealerships and model line up. Purosangue is a brand new model that will eat up production 25% - the also added Monza series. Point is - with electric being next. a sports car from Ferrari may be a lot like GT3RS from Porsche Just bought a "perfectly" restored Dino - been in the shop 3 times 10 - 15k and expect to spend that every year, once it's not so fresh of a restoration the miles I drive will likely cost me similar to a new model. Those days are also gone when a Dino restoration is 350 - 450k and it's 300k to find one as a candidate. Seller lost over 100k and drove it maybe 100 miles. It all depends on your comfort level and those that step out - get burnt financially and mentally. This place reflects far from the typical Ferrari customer - maybe 5%
Considering how many orders are being canceled I would say they build too many. Also, if you factor how many cars for sale with sub 500 miles that also tell me there are too many built and being sold to many speculators. For reference, I have 6 or 7 friends that are Top customers, only 1 will continue to play the game. Small sample size but reality. Many including myself are done. I would rather have the recurring maintenance fees of an older model than deal with my Ferrari dealer.
