Purosangue Market Values

I was “allocated” one of the “few” 12 cylinder cars right when the car was announced and asked to pay a deposit. That is coming up for 3 years now. remember in the beginning there was only going to be a limited run of V 12s and then there would be some other engine? Only the VIPs were “allocated” the V12s. That was the story we were told at the time. I test drove the car, and it’s fun to drive but I find the design uninspiring and slightly worse looking that the Mazda CX30 which starts at $40k lol. Make no mistake, V12 or not, this car is going to crater.

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You still waiting for your car after putting a deposit down 3 years ago?

 

I've had my deposit in since 11/22 and they are telling me a May delivery but I'm still undetermined.

 

With price increase and tariff, are you still going to commit?

 

Supposedly I'm locked in before the price increase but tariffs are TBD. The dealer is scrambling with me and others. I have no empathy for them so they can over allow on my trades or not. I'm indifferent.

 

Yes. Ridiculous. I’m out.

 

I had a "good" relationship with my dealer and had a 296gts and purosangue ordered. After waiting 29 months I finally asked him to give me the price of my spec, was $529k before taxes. I said no and cancelled both. I think the prices are just insane now and my buddy lost $150k on his gtb, between the full price with taxes and what the dealer gave him on his trade. It was less than 2 years. $75k a year is just not worth it for me. I am writing this because my dealer called Friday and said he has two puros in stock if I wanted to buy. These will be $300k in two years IMO.

 

The prices are ridiculous I agree. And you’re wrong about $300k, they will be sub $300k.

 

Yikes!!

 

When I bought my 360 in 2000 there were very few options I could order but I got a couple, the msrp was $141k. Luxury car prices have risen 2.2x since then which should put the mid engine Ferrari at $315k not $529k. I know the cars aren't directly comparable and the options are just absurd but that seems fair to me around $300k for a 296, which interestingly are where they are trading now, or less. The client used to be coveted and rewarded now they are the bag holders, and it's very heavy and getting heavier.

 

That’s true.
In many cases they literally urge „good customers“ to sign everything that’s being launched just in order to make them flipping it back to market. In Europe dealers are not allowed to sell over MRSP but include ROFR in the original contract. Some kind of Mafia behavior.

 

This is spot on, Ferrari keep bragging about the €180,000 profit per car, where do you think that’s coming from? Us. And because the price is artificially marked up way beyond what any other car company tries to get away with, the first owner immediately loses that amount especially on the hybrid cars. Only way to reset pricing is to walk away. I have voted with my feet and so have many of my other friends who have bought every Ferrari for years.

 

What goes around comes around…

 

It will be fascinating to watch this cycle play out.

 

I think this is exactly their intended strategy, in fact, a former Ferrari CEO once said, “preowned is our entry level”. Other luxury brands have executed this. How do you preserve exclusivity, rarity, and make the wealthy feel special by having something others don’t and cannot get right away by simultaneoulsy not watering down your brand and growing your margins - raise your prices. With 13K plus units and shareholders to please, it is interesting to see how this will play out and weed out customers who are on the fringe of being able to afford. The proposition gets much weaker if/when the cars depreciate heavily, you run the risk of not having return buyers year after year. I think the bench of those willing to play is thinning. I cannot imagine a world where people rush out to buy the Roma M or SF90 replacement knowing how those cars have faired. Wait till they require the purchase of the new EV to qualify for the next special whatever.

 

Yes agree, the biggest miscalculation in my opinion is that they think the people that lost $300,000 on an SF90 are going to run out and buy the next car. Those people are done.

 

Here is my view and why I have given up on new Ferrari, because even new Ferrari buyers are conscious about their $$. Cars depreciate, we all know that. Most luxury brands depreciate 40% or more after 3 years. Some, like Maserati, depreciate 60%.
Ferrari for the most part, for most of their cars, was never like that, and I bought several new and used. They had limited production and models were exclusive. They produced less cars than other exclusive brands such as Lamborghini or Rolls Royce.
Their depreciation rates I would guess were less than 10% a year. My 360, 430, 458, did even better than that. Even my Cali-T was less than 15% a year. Now, with increased production and models and ridiculously expensive options, $33k for different color, etc. they are becoming just like any luxury car maker, except ridiculously more expensive. I expect their depreciation rates will end up being like any other car maker. They now produce more cars than Lamborghini and 2.5x RR. The issue is it’s not a $150k car, it’s considerably more. I’m seeing depreciation rates on the Roma, 296 that look like 20% a year. Even though I can afford it I think it’s crazy to spend $550k on a car knowing it will cost me $110k a year after I’m bored with it in a couple of years. Yeah I love them and I think they are the most tactile, beautiful and sexy cars on the market but you have to draw the line somewhere.

 

Spot on, this notion that rich people don’t care about throwing away money is nonsense. Rich people became rich by not throwing money away and by being smarter than everyone else.

 

Excluding anything limited/special with this comment below.

The question becomes how much do you value owning the newest on the road and exciting to see supercars? We all like having the latest and greatest somewhat or we would not be discussing this. We all also tend to get bored with what we have and want the next one, whatever that may be. Going forward in this new Ferrari predicament it comes down to- how much do you value owning the newest of new and first on the road but eating some depreciation OR is your preference to own the cars later when they’re no longer quite as relevant and the prices have fallen? Ferrari buyers will likely fall into one of those two categories. Everyone cannot get the first allocations. Personally, my preference is honestly starting to flip to the latter. I just don’t care as much anymore and the price increases for MSRP and options make the dollar depreciation quite heavy and less palatable. I’m going to decide more so what to do after April 29th when I see how cool the 296 VS looks.

 

Agreed. And the only issue is when I get the car. I'll likely have the sf90 replacement the decision I am making is new vs pre owned. and for a 30% discount I'll likely take preowned.

 

my second sf90 had a mrsp of $750k. I bought it two years later for $550k with 99 miles on it. for most ferrari models I'll wait two years for that discount.

 

Kind of where I am these days, the dealer has ruined the experience. Buying from any dealer or individual is also an advantage.

 

Bingo

 

Same here. Waiting for purosangue to get to that point. Should be sooner than expected. For 400k. Yes.

 

Maybe 3 years