599/430 Prices Crashing

You are far too kind.

 

Nor much else purchased w/in the last year or so and sold today ...

 

I don't really understand the animosity toward someone who "looks forward" to prices dropping greatly from inflated highs. Perhaps someone could be letting their own frustration get the better of them?

If you own one of these cars and can keep it for a couple of years until prices rebound, do that. It is entirely up to you whether the car is up for sale ot not. If the market is too low for your particular model, don't offer it for sale. Just enjoy your cheap toy.

OTOH, if you are being forced to sell the car due to financial problems, I understand your frustration. But realize that in almost all cases it was your decisions that gave you the werewithal to buy the car in the first place, as well as your decisions that put you in your current situation.

 

I figure my 430 is down about 15% in the last 7 weeks, much better performance than my stocks!

Dave

 

If I sold my 612, I'd take a huge loss. Sadly, then, I'm forced to keep it. Plan to console myself by running up the mileage.

 

That's my plan.

Dave

 

mean reversion

 

'90 348 coupe w/32k and new service for $35k
http://ferrarichat.com/forum/showthread.php?t=221655

 

887 as of today and 465 Lamborghinis available for sale

 

A 3rd of the US production...

 

222 F430s on cars.com this afternoon.

 

This makes no sense to me whatsoever!

http://www.cnbc.com/id/27836875

 

What's more shocking, dealers are not dumping there cars yet..Thalist, iLux and Manhem are all down on Ferrari's and Lamborghini offered for wholesale while Cars needed are up!!..That 430 is the only spider to have sold since March...???

Check this out:

11/20/08 RIVRSIDE Regular $160,000 5,269 Avg BLACK 8G A No
03/12/08 W PALM Regular $244,000 5,079 Avg BLACK 8G A No

This is crazy, with wholesale prices crashing dealers are eletcing to keep there cars???

 

Yeah, I too must call BS on that article. I spoke a month ago to our RR dealer where the Phantom was purchased/serviced and his words were, "We're not going out of business but we're definitely weathering some rough seas."
Not sure I believe those numbers either. Maser up 10%, RR up 32%. If there's any explanation to justify it, it may just be because both makes offer at least 10 and 32% more models this year than they did this time last year. Maser has added the GTs and GTSs more significantly to their dealer inventories in addition to the QPs and RR has added the Drophead Coupes and Phantom Coupes now to their Phantom/Phantom EWB stocks. Hence, by sheer numbers more cars are out there to be sold but I'm not certain that -- proportionately -- more are being sold.
CNBC is the network of High Net Worth and such are their sought-after demographic...so methinks this article is padded with a dose of "Perception becomes reality".

 

Aren't basically all new Ferraris "sold" to someone, who then may or may not put them up for sale again immediately?

If so, would Ferrari's numbers simply be an indication of fewer cars being shipped to the US market?

I thought that, unlike a traditional car manufacturer, Ferrari doesn't build cars for dealer inventory. Am I wrong?

 

With these current numbers I wonder what is happening on the Ferrari and Maserati production lines. Are these companies going to have an extened Christmas break? Maybe they could make a few more Alfa 8C's

I have no idea what the union contracts for these companies are like. I know in years past euro companies kept churning out cars and parts to prevent labor unrest. This is why there are so many spare parts for Porsche, Mercedes and Alfa's available compared to Japanese cars.

 

Not only are they offering more models, but I would bet that the sales of these hot new models were actually secured with a deposit a year or more ago. I would think that this would be especially true of the RR cars. The Maserati lineup was getting pretty long in the tooth and I am sure they had standing orders for the new models you mentioned. Since these orders are being filled this year they count as sales this year. I wonder if we will see the same growth next year as deliveries will probably have caught up with orders on these new models.

 

I have a well placed friend at Mahle in Stuttgart. They are feeling the pain and adjusting accordingly. They make pistons for Ferrari and just about everyone else it seems. From Dec 15 to Jan 15 closed and NO production. Much longer than normal according to my friend.

 

Jim, I have to admit that you were/are right. Out of curosity yesterday, because I'm not a buyer, I called some old contacts to check on F430 prices. Wow, talk about shock and awe. Just in the last 60 days, the wholesale market has collapsed. An average condition 2005 F430 now wholesales for around $130k and probably is headed lower. F360s are significantly back of $100k. The only bright spot is Challenge Stradales, which are still holding north of $160k.

Maseratis, however, are holding up for now, particularly the new GT. Ferrari better be damn glad that Maserati didn't make the top drop on thier new car. If they had, the new California would be a dead duck.

Apparently, it is a lot worst for Lambos and Mercedes. I heard stories of $100k off on the new spyder.

Porsches and BMWs are dropping also, but not as much as the Lambos.

Bottom line?

If you don't have to sell, don't.

If you are hot to buy, I'd wait. I'm guessing that February will be a great month to buy.

Dale

 

Local dealer called me today wondering if i would take the Scud that's languishing in his showroom.

 

for msrp?