Speculators, like you said, and fence sitters/hand wringers that are finally pulling the trigger before prices rise too much.
Anyone familiar with Elliot Wave Analysis would probably notice that we are in a rapidly appreciating but sustainable 3rd wave up with a slight correction expected to release some steam. This then sets the market up towards the stratosphere which is otherwise refered to as the suckers rally. Sure prices hit astronomical levels but they rarely stand on solid footing. Make no mistake, I too would love to see those prices but I wouldn't want to be caught holding a half million dollar bag.
I know it`s getting a bit hard to know what the true value is of any car right now! I can see why the Testarossa and Countach (and other 80`s dream cars) would rise in value as more 80`s kids get to a position where they can buy one - the big unknown is how much is down to that and how much is also down to speculating. Obviously in a market crash the value gained from all the people speculating would be lost - but the value gained from all the people buying their dream car from the 80`s would stay - most of those people probably won`t sell just because the value drops as they`re just happy they`ve got one. I would have thought less of the increase in values with the Testarossa is from speculating as the higher production numbers would surely make it hard for speculators alone to push the price up. One thing I would like to know for sure though which I read on the forum somewhere - is it true that the auction houses themselves can bid a car up to an amount below the reserve price? I figured it always went on to some extent in an underhand kindof way - but I didn`t realise it was a perfectly legal and acceptable practice. If so that means any price achieved by any car that doesn`t make it`s reserve is meaningless as far as values go because you don`t really know if it would have even reached half of the "no sale" price. You`ve got to remember at the end of the day I suppose that no matter how much money and fancy big names are involved in the market - it`s all just the used car business at the end of the day, so it has to be treat with the same caution - perhaps even more - when so much is at stake for people.... Anyway it`s just what I read, I`m sure someone can say whether or not that`s true. Cheers, Dom.
I'm going with more fence sitters decided to start buying. So many people talking down the car to get a better price have been watching the turn if events the last 12 months. Plus , all the people selling Dino's or other cars at big dollars have moved down stream too. A few posters here sold a Dino to buy a Testarossa and banked money. Once a car guy, usually a car guy.
Interesting. Do you think the Dino guys bought the Testarossas to sell again for profit, or because they really wanted one all along? I did notice that the Testarossas on the market in Canada just disappeared, almost all of a sudden. There is usually a few cars here and there. Now nothing anywhere.
People are unloading Dinos because they know that they are a bubble, and it makes sense to cash out and buy a car that is more fun and has potential to appreciate. And because A TR is most likely more fun to drive than a Dino, which is a V6.
550s going up like crazy? Not as far as I have seen. They have gone up yes, but not by much. You still see decent cars for sale in the 70-75k range here and there. But who knows maybe they are not as good as they are advertised to be. They don't seem to last long. I bought mine at the end of last winter when they were still pretty cheap.
I dont see much evidence of owners 'unloading Dinos'...... they are one of the most beautiful cars ever made and a design classic . I can only see them going higher. I would have a bet with you that we will more likely see a $1m Dino , before we see a $200k example within the next 2-3 years. BR Jez
I bought my BBi at the height of the market right before 2008. During the down turn the value eroded about 20-25%. I could of sold many times for a very low number but held. So far this was a good move. I think if we have another price adjustment most owners will hold and not dump. BTW some of the best known people in the collector industry (some are Fchat members) shouted doom and gloom is coming. The Great Recession will allow one to own a 275 4 cam for under $1MM etc... None of that ever occurred and high quality collector cars held with their value effected much less than other asset classes. What does that translate to now with many believing we're in a bubble? Geno
I'll bet you 100 dollars worth of cigars or a 100 dollar bottle of scotch that dinos will fall back below 300. They're AGES away from seeing seven figures, too many left. And they may NEVER hit seven figures, V6 motor, no Ferrari badge, sorry
It isn't just the Dino guys, it's all cars. If you look at the Poereche market, Alfa and on ..... What begins to happen is the Testarossa became the last vintage type of car that was to be had at under 80 grand If people were long in the tooth with there car and got strong money moving into something else vintage the Testarossa was a great alternative. Then we have people that wanted a bb , or a Daytona and now that the boat sailed on those , again the Testarossa began to be appealing. Many factors at play, but that old saying that high tide raises all boats is true Won't be long before the Testarossa settles at 150k as an average ...all things being equal of course.
Considering what the completely moronic out of control buyers were paying for other cars, the car should have sold for more.
'88 tr $245k 288 miles '89 F40 no sale $975 no mention of miles/condition ot; can they shut-up that Ray Everham? what an annoying dude, imo of course! Jack
I agree, way too much testosterone and alcohol in the room. People paying stupid money for plastic Chevrolets (Corvette), Mustangs and Mopars anyone can duplicate. Yes, some had history but still...
one cigar and a single bottle of malt whisky is not much to risk , my friend..... you must be unsure of your comment! Looking at your past posts, you have been predicting doom for Dino owners ,since they were at c.$250k!...... i suppose if you keep saying the same thing for long enough something of a correction may well occur, however the reasons you claim are to the detriment of Dinos, are the very ones that make this car so collectible and in demand..... maybe watch the John Pogson Dino video on youtube, and maybe you will start to understand what I and the Dino 246 fraternity are talking about. BR, Jez
Too Bad Ron Pratte did not own/sell any F-cars....his collection is selling for MEGA- DOLLARS, '67 427 Cobra $4.7M '69 GT500 Conv $500k, '67 GT350 $420K all w/o buyers prem Amazing, this guy either is the greatest financial genius (recall his story) or just 'lucky' in his timing. Wow. Jack
I predict: Within the next 12 months You will start seeing tr's for sale with the words " body off restoration" It almost makes sense now Pick up a 50 g rat And sink 100 g's in it Make 100... Funny how we have never seen a " Fully Restored" ad for a tr Its coming ....soon
The Classiche Center doing tr restos......at one time approx two yrs. ago they had several boxer's in for this, fast forward, there's you new level. Damn, I just gave away my Crystal Ball! ot; 'Ford Boss 429 $500k (Pratte) Jack
The buzz is certainly in the air. Buddy of mine who laughed at me for buying a tr couple of years ago is now asking me to help him find a car. Very conservative guy I may add.
