16M

one just topped up on here in Canada

 

mmmm.... giallo def. the fastest!!
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15k miles though. I'm sure they'll only be asking $375k, or $150k too much!!!!! I've been in the market for 16M for a while - do your research, these are not $300k cars. But, there are a few dealers slapping crazy asking prices on them and Scuds and CSs. DE has a black one that they started at $420k last week, but it's down to only $400k - a steal!!!!


Cars for Sale: 2009 Ferrari F430 Scuderia Spider in Lake Park, FL 33403: Convertible Details - 399131005 - Autotrader

 

In this market they ask what they want for cars. Personally I think the bubble will burst soon and the cars will be selling for 30 to 50 percent less than they are selling for now. I think the smart people are waiting on the sidelines right now waiting patiently for the market to correct.

 

50% less would be a 16m for a 50-80K discount to a new Porsche turbo S. Very hard to imagine.. Unless you think new car prices are a bubble or the entire economy is going to blow up.

Remember, these cars are still trading below MSRP (by a lot! ) I have never seen a car bubble where the car traded below MSRP at the peak...

In the case of the 16m it is probably underperforming the other rare modern Ferraris given its relative price to 599gto and CS (as well as some 90s porches like the America) which both seem to be trading at a premium to msrp.

This of course does not mean prices won't tick down. I am just saying "bubble" is an awfully strong term for a rare item that is trading below it original and oversubscribed price.

 

Agree. I would be cautious about waiting too long if you want a specific limited car. Even GTO is only selling $100-150k,over original MSRP. I would hardly call any of this a bubble but rather a previous very undervalued ferrari market .

 

+1 , it is not just a scud ; it is a limited edition only 499 produced and is selling under MSRP now ...... it should be up a lot more in a near future ..... you want it but no supply ....

 

When 16Ms only trade between dealers that should peg your BS meter.


Driving Emotions black 16M was originally priced at $249k asking and as most black ones it sat unsold. Over a year later and 3-4 dealers are making a $150k increase in price and folks are seeing this as a market?

 

It must be noted, though, when it was asking 249 there were also about 14 other 16Ms for sale.. Now there are few and far between with sales taking place at higher levels.

 

Anything is only worth what someone will pay for it. If there were 14 others for sale and now there isn't then at the end of the day they sold and this one didn't. The fact this one didn't sell when others did doesn't make it worth 150 grand more. Bubble is a strong word. Sellers are sticking prices on these cars and hoping for the best. The market will self correct in the short term but in the long term its easy to see these cars as value priced.

 

Agreed that the pricing is probably good for long term appreciation.

My point was that about number of cars for sale was a supply / demand point. Namely the supply was much higher before when prices were lower so not too surprising that with supply much lower prices are now much.

IMHO the 16m has transitioned to a different stage of owners. Namely from those who want the latest and greatest to those who want something to keep in the collection. If this is true, I expect there to be a much lower numbs of cars on the market going forward.

 

Good points, agree on most.

Trading below MSRP because modern cars are usually considered depreciating assets. Very few cars counter this and the 16M may perform this way despite several dealers pumping the current market of no buyers. My observation has been as you alluded to; the cars come out, first owners jump to new models and the real collectability is determined by the second tier buyers. This seems strong for the 16M.

Supporting this:
1) I draw a parallel to the 550 Barchetta Pinin Farina pricing cycle; when first out high, price drops and then 10yrs later collectors are all over them.
2) The 458 Aperta's high price will also hold the 16M pricing up

Counter:
1) Can the 16M command a premium that is double the ~$180k that same year F430 Spiders cost?
2) Will the new higher price of the 16M now push buyers to other models in that cost range such as the 458 Spider or Speciale?
3) As you succinctly stated, The economy has blown up before and the year before a US Election year is suspect to all sorts of political maneuverings.


Great conversation topic, Thank you