Can i anticipate the rise of 328GTS rising?

I practice every day to find some clever lines to say when I reply to your posts, Jon. But the news this weekend regarding Lehman and Merrill is pretty sad. There's no joking over this.

Barry

 

just wondering does anyone think the Mondials coupes will appreciate, especailly the "T"...?

 

No, just my 2 cents.

 

Check back in another 20-30 years.

 

The IRS would certainly take issue with someone that placed a Ferrari in service and tried to write off a major, if they knew about it. When I list the expenses of a business for someone that has a luxury automobile in service, I don't list "Auto Expense, Red Ferrari." Now, the luxury limit for depreciation applies, and a mileage log is helpful in justifying the business use percentage. So, if you are using a ferrari 40-50% of the time for business, you may not be able to write off all of the repairs. One must only show that the Ferrari is used for business purposes to claim expenses.

I researched several federal cases concerning the business use of a ferrari. In most instances, deductions were disallowed due to the business owner's inability to substantiate the business use.

ric

 

I need to add the following: Any recaptured depreciation is taxable at ordinary rates. Hence, I buy the ferrari at 50K. I depreciate it down to 35K over 5 years. It is now worth 100K. I sell at 100K. The amount between 35 and 50K is ordinary income. The other 50K is taxed at long-term capital gains rate, which is 15%, FOR NOW. Barack Obama promises to raise the rate, if he can get in.

 

Of course, but only as a niche car within it's own market. There are very few to be had and even less worth having. If you, or any other Mondial lover wants one (including me) then pay the piper now or more later. And if you have a good one for sale then obviously you'll need to find someone like us in order to get top dollar.

 

One might ask Mr. Sheehan how's the situation with the 348, 355, 360, ... that have been produced in much higher numbers and lack basic Ferrari heritage (space frame chassis springs to mind, sacrificed on the altar of mass production) ?

 

During the last 6 months while I was looking for a Ferrari, the asking prices of 348s dropped to the same range as 89 328's. Since the 348 is a newer car which would normally be "worth" more, this leads me to believe that you will lose less money with a 328 than a 348. Of course, I guess the market could change at any time.

 

actually, desire has more to do with worth in many cases and the 328 or even 308 will command a higher price just for that Magnum link.

As mentioned above, the losses, costs, etc. etc. per year would be about the same on both, BUT the 348 sometimes has more yearly costs, and may, just may drop a bit in value over next couple years due to the extra major expense in these times. 30/28's are a bit more DIYer.

but investments are like BR said, the base 'should' hold its value and ONLY the cost of maintenance is the loss in owning.

r

 

The 308 is yesterdays Dino, the 328 is the "now" car, and the 348 will be the 308 of tomorrow. They switch roles as time moves them along. Yesterday the Dino was the kick to the curb car, then the 308. Now the Dino is hot and the 308 will march in right behind it. The 328? Hard to say, but more than likely it will fall below the 308 at some point as the two cars swap roles, whether its kicked to the curb is anyones guess but probably not. The 348 is going to remain a hot car but will continue to lose value over time. Will it drop below a 328? I really dont believe it will. But 30 years from now we will have a better idea what happened. I will be sure and try and show up to see. I'll try to keep my walker out of the way.