599/430 Prices Crashing

I noticed the same for the 308s and 328s, where I'm more familiar with what's on the market. But looking around at actual dealer inventories I'd say there are a lot of 360s and newer actually available.

 

A freind who trades cars here and there for fun and to have fun cars to drive told me the following.

He just got a 456GTA 22kmi for 55K, He has been offered a 550 for under 70K.

Newer model used Mercedes(300) and Lexus are hard to find wholesale as this is where the new car dealers are doing their business, current model good shape used luxury.

Then we look at BJ where a 355 spyder apparently went for +90k which would have been a good price pre crash, and on the other hand I am hearing of 355GTB's dropping below 50K, although condition is unknown.

Then I heard of a very low mile 348 convertible for 42K it had been sitting in a garage unused so would need recomissiong, and I think that is a brave purchase, is it even worth that now?

Heard about a 1 bedroom upper westside manhatten apartment prewar building. 6 months ago this was a 650K apartment, owner retired to FL and after 3 months with no offers told the agent to just get a buyer, price now 450K. Is this the new price, will it go lower, or is this the current fireside price when there are no buyers.

Saw a house a few streets over from me being built earlier this year. it has sat empty for a while, figured it was a 2.5 mill house. Saw an agent freind, apparently the developer had been looking for 4 mill and 2 weeks ago jumped off the tappan zee bridge. I guess when it sells it will be for less than current replacement cost.

Motagage broker told me of a house in greenwich Ct on the Li Sound. I figure this was a 12-14 mill house last year. Owner put it on for 8 mill and no one even came to view it.

True properties in the NE were way overvalued, but a lot of people are going to get taken to the cleaners when the properties find their true value which is 25-40% below where they just were, and this will be a nationwide trend in nearly every good neighbourhodd. Yes many people owned their house from before the price runup and are OK, but no one is really feeling richer right now.

I just dont think there will be too many exotic car buyers out there. Essentialy not many people feel like putting 250k into a new toy that will be garaunteed to depreciate. And yes the rare beasts will hold their value better for a while, maybe the owners have no need to sell, on the other hand there will be less buyers so depending on how long this goes on each time a daytona, dino or f40 comes on the market and really needs to sell then price will trend down and a new market will be established. Not every owner of these cars is going to hold them untill a real market comes back. And Europe is worse off right now, so they wont be absorbing "cheap" cars from here no matter what the dollar trades at.

And realisticaly a Dino should not be more than a 90K car even in a decent market. Is a daytona really more than a 300K in a decent market. The bubble is deflating, then we will see how far the poor economy pushes these cars below their median value and for how long.

Good news a lot of really nice cars like 50's alfa giulias got saved in the price boom, and so these will be with us for generations to come instead of being scarp

 

Good news a lot of really nice cars like 50's alfa giulias got saved in the price boom, and so these will be with us for generations to come instead of being scarp

This happened to a lot of Ferrari's and Aston's in the 80's boom. These speculative booms do have a value in that they save a lot of cars that would have died of neglect.

Major deleveraging and disinflation will go on for the next 2-3 years then we will see inflation for a while. The dollar will continue to be be strong for 2-8 months this combined with continued world finacial crisis will put massive downward pressure on these cars. A lot of the run up in prices of Ferrari's in the last two years was due to dollar deflating verses the Euro.

 

yea except only two of them are scuderias (one at 352k and 459k)...

 

^ just saw that it was already mentioned above

 

I'm sure most people would like a Scud at sticker. I know I would.

 

I was at a car dealer friend's office in LA this morning when he was online into the Highline Mercedes Finance auction in Riverside, California. He suggested I wait to watch what he thought was the first 599 to go through this particular auction. It was a red 2005 (it think) with 6,500 miles, aftermarket wheels, broken right mirror and some front fascia stone chips. There was a big crowd around it's auction lane when they started the bidding, initially asking over $300k (maybe $340k+ - it all happened fast) and got the first bids in the low $200k's. The bidding topped out at $250k but apparently that was lower than the minimum so the sale was listed as "pending" awaiting approval from the seller (Mercedes finance?).

 

Early car with steel brakes,higher miles then usual,not clean from description is not worth a penny over $250k wholesale.
I assume it was 2007,btw,since there were no 2005 models.

 

What do you think retail is on this particular car? $270-280k?

 

That would be a realistic number as of today.

 

I get a kick out of the guys on Ebay with 430's for sale for 275k +, and they arent even 07's. i wish i had what they were smoking. You'd think with owning such an expensive car they would at least have access to a t.v or newspaper to inform them of the crash and they would put 2 + 2 together and drop the price. they must not need to sell and are just trolling for dummies.

Also, what about a scud with less than a 1000 miles on it for 449k? reasonable? absurd? just right? whadda you all think?

 

I just looked at the post sales results and the 599 did not sell...

It just might be the same car...This car might have had a story with it...

 

I saw the black Scud at Ferrari of Denver a couple months ago. It's definitely a *****in' car. But they wanted 2.5X what my '05 coupe cost me new. So I still have mu '05.

Dave

 

"New baby forces sale"


I didnt know diapers and formula were so expensive!

 

Is it RHD ?

 

LOL, maybe that comment as meant as a joke.

 

Not to mention: don't you have a little warning if a new baby is on the way?

 

"Can be delivered anywhere in the world" in other words where o where can a buyer be.

 

Oh! The car, that means.

Thought it was the expectant mother got about a bit.

 

It's not a Ferrari, but just to give you another example of how the market for high-end cars has been getting slammed:

This 2008 RR Phantom which stickered at $373k just sold for...

http://cgi.ebay.com/ebaymotors/Rolls...mZ170268356102

It was difficult to get one, used or new, at sticker earlier this year - this car sold for what would have been 'salvage yard prices' back then...

 

Link no worky. How much did it sell for ?

 

Maybe it wasn't expensive diapers ---

Could be the new baby was with another woman, ex-wife won everything in the settlement.

 

$105k gets this G-lardo:

http://ferrarichat.com/forum/showthread.php?p=138140633#post138140633

what a beautiful car for $105.

 

Maybe even a little less. I saw that thread the other day, and after seeing the price I must say I was interested in an L car for the first time. That is a lot of car for the money.