F40 prices sinking fast? Asking below $499k and no takers

Point taken.

 

Here's what you don't get Caley, downturns teach lessons. Those, and there are many, over extended by things they don't need just got a wake up call. Sure Obama is bailing out some industries, but the underlying fundamentals for the US remain bleak. Cash will remain king for some time. Credit will go to the worthy for homes, not for exotics. We remain in a huge mess and remain less competitive globally. Only fools will use the Obama hope to justify luxuries.

 

Lets compare an F40 to say a 275GTB, F40 much higher production numbers, its styling is now dated not new looking or old, many have been hammered on the track, its 308 based and a V8 not a 12, really they are a rich mans toy, very expensive to maintain, not a true collector museum car vs the 275GTB, downturn in the economy, media hysteria and negativity creates panic in some, yes there will be bargains out there in the F40 world maybe priced where they should be

 

Interesting how perspective is lost. I have been a stock market investor for 20 years, and I have seen this before, more than once. Still, I learn every day, and get surprised over trends and developments. But this thread, as I remember and read from it´s heading, is not a debate about world economics as such or the general affect this will have on the average citicen. There are many interesting scenarios regarding how this will reposition China and some 3:d world countries, and the political impact of a too high dependency on oil.

I get the picture, and wake up calls are always of interest.

But this thread is about the pricing of F40´s, and as I figure, they are owned by about 2-300 americans in the US. In europe probably 5-600 and the rest in Asia, roughly.
These are not the average citizens in either of these countries. Most of them have margins for this, and some of them have made even more money in this market. Sure, there are some speculators, but obviously not in mass market volumes. And the prices, as I have noted and pointed out, show no proof of massive declines in a parallell to the financial markets. They are still around 280-320 K euro over here, and cars are sold at these prices or kept by the owners. Regardless of the speculations or views on the global competitiveness, this is the way it is. There are no good F40s out there at 50% of last years prices, and there will not be is my prediction.

Let´s focus on the issue at hand, and not confuse the general environment with the F40 market involving a handful persons worldwide!

Regards!

 

a guy i know, bought a very low mileage pristine f40 last year for about $550k.
a similar car is offered at $500k now.
i was offered a higher mileage car earlier this year at $400k. now i am offered a similar car at $360k.

some of this can be attributed to forex changes.

but the pattern i can see is a softening of prices. i am not disagreeing that a large proportion of these cars remain in strong hands, but as we both know, it is the weak hands that set the prices. and while these current cars remain offered (as opposed to done), the prices will trend down.

as i said above, the first real direction we will all get is from the gstaad auction. i plan to attend and see it first hand.

 

It will be interesting to see the lot list for the gstaad auction. The two main UK auctions in Dec -Bonhams and Coys have very few entries and only a couple of Ferrari entries one 512, one daytona, one dino and a 365gtc/4. No F40's or 288gtos or f50's. At the moment in Europe I have not noticed a any increase in the number of F40's for sale or the prices dropping. The F40 is one of the icon Ferraris is great to own and I recon a bargin in comparison with the 60's one which lets face it are not fast and very antique to drive. They did make 1300 f40's but 806 275 GTB's. Is there that much of a numbers difference here?

THe reaction to the car is also shocking when one goes for a drive - people hanging out of car windows photographing you. Personally I don't like this but it shows the design and presence of the car is still shocking. This all helps making it on the "want list" for alot of people. I went for a drive with Red Head earlier in the year and the sight of two F40's was nearly causing traffic accidents. You don't get that in a 275.

The F40 is a good long term bet and not overpriced and that is one reason at least in Europe why everyone is not suddenly selling. Maybe they weren't all bought up by (now redundant) merchant bankers.

 

F40's fell from 1.5MM to 300K the first time. The second crash is happening now. The second high tick was 800K (?) (There were 1MM asks the second time but not sure if any sold there). Taking Ross's 360K car today it's not hard to see where they're headed and support will probably come in at 180K.

Anyone paying more than 180K is renting to own.

What they'll sell for has nothing to do with what they're "worth" to individual owners who can afford to keep them. If you can afford to keep something, bought it to enjoy, and do enjoy it, it doesn't matter what it's worth.

 

So 180K is the price to pay then, at least soon if I understand the predictions correctly.
This is about 140K euro or less than half of todays prices in any site you can find.

Very interesting info, and I think I will give up asking for evidence of this proclaimed trend. As long as there is no support for this in europe, whatsoever, I consider it guesswork. But I change my strategy and stop debating it here. Instead I will stand in line for the F40s at 180K which is in the near (?) future as I now understand.
I will take 2 and have a friend who will take 2 as well, thank you!

Regards to you all, I have enjoyed the debate!

 

Interesting that you're changing your strategy. A few day's ago you and your friend were going to buy 4 @ 200K e.

 

At 180K, I will take as many as possible...seriously. I, too, agree that the 180K mark is simply speculation. While I agree the price is softening, 180K is really unlikely, IMHO. But again, if there are 180K F40s out there, by all means, please let me know where I can send the checks...

 

We still are, but since the price is obviously going down to 140 K euro, we find it better to wait for this!

Take care!

 

Okay, so hypothetically say there would be 25 available, based on Joe's figures. So you will come up with $4,500,000 to invest in assets that are falling like a rock?

 

Not sure about the rest of you dudes, but all this negative banter really gets me excited. Unlike the stock market where falling stocks and share prices usually (repeat usually, not always) reflect a company falling apart, deteriorating revenues and earnings, loss of market share...things that often never find a way of reverseing themselves....here, as it relates to F40s, F50s, CGT's and other desireable, collectible cars, the underlying basis for owning the car, which should be a passion and love of the vehicle...that never changes.

All thats changing is the price at which these things change hands. whether its 600k us, or 400kus, or less, the underlying attraction should not change in the least. When that F40 turbo kicks in, and the stars get blurry from your lightspeed, millenium Falcon-type warp speed thing....somehow i have a feeling you will quickly forget whether you overpaid 50k. heck,, if you got the deal of year, pick the very bottom, the excitement of having gotten so luck (not good, just luck) will wear off quickly. If you over paid the 50k, somehow i have a feeling that it wont distress you too much either.

Anyone buying a car like an f40 or really any luxury item should never do so in this market climate if you feel you can not financially stomach a 10, 20, 30% hit in valuations. if the prices of f40s hit 200k US, then our economy is way beyond repair and quite frankly, most likely the declining value of that f40, and your unrealized losses on the car will be the least of your concerns. with f40s at 200k, you'll be far more consumed with your failed business, losing your job, and finding milk that doesnt cost $6.00/gallon.

its funny, dudes worry about a silly car going from 500k to 300k....while noone wants to lose 200k, it would probably be more important to worry about the rest of your financial security in an environment where an f40 drops down to 300k.

its a car. treating it like a stock is a mistake. 1 share of General Electric is just abo uthe exact same as every other share of GE. one F40 is not like another. the best thing about this decline is a) the prices have gotten cheaper for those of us who have seeking one, b) it has cut out much of the shinanigans that sellers used to play, offing one bidder against another. its a buyers market now. anyone pulls that nonesense, you run to the 7 other cars availableand c) more inventory has come online from buyers needing out. thathelps prices, but just gives you more selection.

if the f40s hit $200k US, no worries, no concerns. just PM me. i'll take a couple. but only really good ones please.

 

He will only have to buy 21, because I will take 4 of them..*L*

 

Good point! Maybe they will come to 200K, but maybe there will be bigger probs than finding the right car at this moment....

 

Here is how my simple mind works: at 180K/each, the upshot potential of this asset is extremely likely. Perhaps it may not ever reach the all-time high of 1+ mil again, there is a good possibility that it will trade above 500-600K again in the next 5-7 years. Assuming that it does, the 180K investment price looks pretty darn good in terms of the amount of potential appreciation possibly within 7 years. With that said, I would try to acquire as many as possible. Now, using your hypothical example of 25 cars being available at one time at the 180K price, chances are that before I could take down that entire batch all at once, there will be other like minds here who will have purchased a portion of it at the good investment price of 180K...so, perhaps my financial "burden" wouldn't be quite as high as 4.5 mil???

 

The high tick for an F 40 was 1.5MM. That same car sold for 300K. The even sadder thing about that particular car is that the original owner never drove it. When it sold for 300K it was a freshly serviced "new" car. If F 40's fall 50% from here to US 250K$/Euro ones 180K$) the world will go on as it did the last time F 40's lost 80% of their value. Can't happen? Already did once and is heading in that direction again.

Investment? There are stocks that went up more than 100% in 5 days last week. C comes to mind. There's a Ferrari collector who bought 134MM $ of that last week. That's an investement.

 

Well, I can say for certainty that watching you buy as many F40s that you can find will be the most entertaining thread ever on fchat. If the price does reach that magical level, please make sure that you post often about your exploits. I'm calling your bluff, obviously, saying there's no way you'll do it. But if you do, make sure you share the story - I will be watching daily with a huge box of popcorn, LOL!

 

180K w/Classiche?

 

At 180K (USD), all I can say is to bring them on...starting NOW

 

...and bring on the F50s at USD300-325K as some posters have suggested.

 

Got offered a 1992 F40 with 15K miles for $400K. The car has been fully service and has 15K miles. The car and the owner are in Tampa.

 

There are a few interested parties on here at that price point if legitimate.

 

The car is on last months or this month`s duPont registry. It has a list price of $529K I think. It is a 1992 F40 with 15K miles and a full service done a little over a year ago. If you cannot find the number, let me know and I can pm you the phone number. I spoke with the owner three weeks ago and he was very motivated to sell. I think the seller is in the electronic business and is currently experiencing financial problems. He also has a 2007 black 430 Spider that he wanted $180K. I do not know whether both cars are available but it sure was tempting on the F40.

 

Only one F40 and one Enzo at the Bonhams Gstaad Swiss sale in dec. The F40 is the black car that sold there last year and has a different engine and loads on mods. Not exactly a nice one.
A few other ferraris - 2x 365BB 2x 512BB 1x Daytona and a Dino or two, a couple of 275,s. And a TDF. This sale was billed as an all Ferrari sale a few years ago but theyve had to widen it to other italian cars to boost the entry list.