Car Pricing

We still like it at this price.

http://www.bloomberg.com/avp/avp.htm?N=video&T=Glickenhaus%20Likes%20Navios%20Maritime%2C%20Enterprise%20Products%20&clipSRC=mms://media2.bloomberg.com/cache/vBqvpHA65oUw.asf

 

I guess I was just trying to make a the point that you can make a case for anything these days. Everyone on this forum knows that prices are down. The only reason I was able to buy was because of the the poor economic times. It seems like everybody is saying we should wait wait wait. Why wait when you can drive your dream today for much cheaper than it was yesterday. Sorry if I offended anyone.

 

hey thanks for that
off topic but is seth glickenhaus related to you or do yall just share a rare and unique last name?

 

I read constantly that cars are not a good investment. I have traded exotic and vintage cars for over 25 years and the outcome plus or minus, in most cases has to do with timing. I sold several cars in the early months of 2008, some at auction (RM in italy) and others by private treaty and even more to dealers who wanted those particular cars. In that cycle, which lasted around three months, I achieved some spectacular gains, especially on rare cars and some notable gains on more mundane stuff and broke even on a couple of modern cars.
Overall my ROI, based on acquisition date and sale date, on an annualized basis for this group of cars was in excess of 50%. I have some nice pieces in inventory right now but I am sure I will not sell anything in this market because the asking prices are not achievable. That's where the most important business element comes into play - patience.
When it's a business and it is run according to well designed criteria and principles, it should be successful regardless of the commodity being traded.

 

I believe he is.

 

Alex

This thread is about 430's/599's and 612's not 250 GTO's.

Cheers

 

I agree totally that the good time value of owning one of these now is great, that life is short and waiting instead of enjoying yourself (responsibly) is the way to go.

Best

 

I know but people throw the statement around that cars are not good investments as a generality.
I agree about modern cars. I don't really care what my 599 is worth. It's just a great car to use every day. I'm sure you feel the same way about the 8C.

 

4 Sure. 8C is my daily.

Give my Best 2 U'r Better Half.

 

Looking forward to August in Carmel.

 

Understatement at it's best.

Cheers,

Art

 

cool vid.

Mr. Glickenhaus reminds me of my late grandfather, with whom i was very close to.. His experience and gentleness are refreshing and thought provoking. He probably has seen it all and he makes sense.

thanks, i will give closer look to those stocks...

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