Ferrari prices definitely dropping....

classic quote. too bad in 2 years time nobody will remember his name...

when you hear global crisis, you might want to change strategy

 

No,it's not.
When comparing it to 90% of other used 599s being offered (that have on average less then 2k miles) ,it is a lot though....
My main point was the title status, however.

 

Instant Karma.

 

How can you tell the 599 was a salvage title?

 

its a blood bath down here.

 

I'm sorry but if the unaffected wealthy aren't buying aren't they only adding fuel to the fire? They should buy as much as possible because that would help the economy and keep people's jobs. I don't buy the assumption that they don't want to stand out with their wealth in these times. Isn't standing out a big part of spending money on toys and jewelry?

 

Or orders backed out on, believe me... I'm most likely losing my job over this.

 

http://cgi.ebay.com/ebaymotors/Cars-Trucks___2007-ferrari-599-gtb_W0QQitemZ280284472096QQddnZCarsQ20Q26Q20TrucksQQddiZ2282QQcmdZViewItemQQptZUS_Cars_Trucks?hash=item280284472096&_trksid=p4506.c0.m245&_trkparms=65%3A7|39%3A1|240%3A1318

 

the stock mkt was up Friday, F-cars are on the rise again. WOOHOOO! Its a good again....

 

Yeah Baby, Trickle down theory!!!

 

Tex, do you have details on the car?

 

The wealthiest 10% account for 50% of retail. Everyone is affected by extremely diminished real estate and stock values and most have already begun to adjust their spending accordingly as evidenced by crashing values of and slackening demand for luxury goods.

 

Good answer. Not. The one I posted sold for 250K had 6K miles and was NOT salvage. The one you posted sold for 240K.

 

I sympathize with people who have or may lose their jobs. I include those people in my prayers. But this economic downturn is just STARTING, and will be long-lasting, IMO. The trickle-down effect will be loss of jobs and lower spending and confidence, triggering more job losses and lack of confidence and spending. I'm sure many wealthy people (not me ) also feel this way. And since the Fcar market is also being affected, why should they buy a car now when they can wait to see how low prices may go, and buy then? Paying higher taxes (Biden) isn't patriotic, and buying now when you're sure lower car prices are coming is not a reasonable thing to do. Just my opinion.

 

First the big three are asking for a bail out and I bet in the near future so will lamborghini and ferrari .

 

Sorry,thought we were talking about the same car.
That of course changes everything, clean car at $250k ??!!
Market is freefalling indeed.........

 

Here's a new F430 Spyder offered by a dealer at msrp:

http://www.ferrarichat.com/forum/showthread.php?t=222936

The same dealer has a new Scud for sale as well and it's been sitting unsold for months. I assume he's asking a premium but maybe that's changed...

 

Just heard of a 430 spider, just delivered with <100 miles and the guy can't find 220K for it.....

 

Yes Ferrari prices will continue to drop for some time to come. America is entering a period of extreme risk aversion. But if you want to see what prices were like there is a collection of Ferrari Market Letter from the 1980's currently on E-Bay.

 

http://www.cnn.com/video/#/video/world/2008/11/21/riminton.rolls.royce.sale.cnn
Benley Turbo R for $38k in Hong Kong.

China...Our savior...Hmm.

Just so you know Long Beach Port is full of new Mercedes that were scheduled to be sent to dealers.
The dealers are not taking delivery and are storing them there at the port.

 

Wow. I didnt mean to be the harbinger of bad news for you personally. I hope that your job will be ok.

 

No worries man, I saw it coming a few months ago, I've had the time to ready myself for whatever happens.

 

I still have a stack of them back to the '70s

 

If you look at the NYT photo, there are a huge number of Priuses sitting on that lot. In early 07, a friend's store couldn't give the damn things away. How many series 1 Priuses do you see (notchbacks)? US makers taken to task for selling what people wanted (trucks).

Jim, if something nice is in Manheim, the dealer who had it wants out. Now. I pulled up my Mannheim On Line and looked at all Ferrari sales in 08. Car was a lease car, average condition. That was the only Manheim sale of 599 since car came out. Price in toilet, but power function lacking in sample.
430 sales in 08: '05 2 Spiders, 4 Coupes; '06 2 Spiders 2 Coupes; '07 2 Spiders 1 Coupe.
Only 3-4 of these since July, so not a vast flood into auction pool. Prices down.

People who couldn't afford to write a check for one (just like houses) bought exotics, tried and did make money. Not anymore. They're cars. Unnecessary cars. 4-cams were just cars, SWB's etc. too. They depreciate, then they stabilize or gain eventually. Actually, compared to some stocks, they did ok. Whoever traded a <100mi 430 Spider at Bentley of BH for 160 had their head torn off, likely didn't care or was too dumb to know.

I've had vintage, and love them, but no time, and I want to use them (No Sal/Patrick/Uwe handy in TX). New stuff makes life easier. Won't own a "tach needle restoration" car either. Replicas are the suxxor.

Somebody only loses money if they sell it. People who HAVE to sell are screwed. I hope business issues don't hit the guys who own the cheaper/older cars too hard. Need the cars in hands that will use them.

Just tired of the "sky is falling" BS. Look around. Deflation does that. Lots of pinheads not getting bonuses this year (we hope), so used supply way up.

Exotic makers are smoking crack if they think they'll keep moving iron through this. The Ferrari SL apart from being overpriced is totally unnecessary and likely will be unwanted. FNA, RR, Bentley, Aston all are asking worldwide dealers WTF to do with model mix and numbers next year. They don't even know what is prognosis.

I'll still be out there running the 599. Won't be as few as 8C, but won't be many more over next couple years.

Like Bart says, "12 Cylinders or Walk".

 

Sfumato>John Wayne! F*CK that candy ass depression!!!!!!!!!
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