AFTER THE CRASH | Page 2 | FerrariChat

AFTER THE CRASH

Discussion in 'Ferrari Discussion (not model specific)' started by The Red Baron, Jul 29, 2015.

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  1. energy88

    energy88 Three Time F1 World Champ
    Silver Subscribed

    Jan 21, 2012
    32,793
    West of Fredericksburg, VA
    Full Name:
    John
    +1 Quite correct! A further variant on this statement is that Mr. Market is both patient and crafty so as to do the most damage to the most number of participants as possible.
     
  2. Caeruleus11

    Caeruleus11 F1 World Champ
    Rossa Subscribed

    Jun 11, 2013
    11,749
    All I can add at this moment is thank you all for making some excellent and thought provoking points.

    I agree a car like a 599 GTO is a likely candidate to see some kind of a fall.

    The car I would like is the 275 NART Spyder. I'll take one for $5m please (as long as we're throwing out crazy low numbers...) :)
     
  3. 483hp

    483hp Formula 3
    Owner

    Aug 17, 2005
    1,428
    www.fca.alberta.com
    No car is immune to a market downswing. There was a great article a number of years ago that Sheehan wrote which summarized the publicly known trading prices of 250GTOs from new through atleast 2 bubbles and corrections. There was one serial number in the bunch that repeated. #3909 was sold in 1989 to Kato for $13.8M and then traded hands again in 1994 for $2.7M

    I'm keeping my powder dry for now. Asking prices these days are stupid. I'd like to add a F40, 288 GTO and perhaps an Enzo to complete the set. But I prefer the MC12 to an Enzo personally. If I hit the jackpot I'm going for a McLaren F1.
     
  4. SCEye

    SCEye F1 Rookie

    Aug 28, 2009
    2,950
    Norcal - Peninsula
    16M... of course want an Enzo but realistically will never make enough $ to afford one. 16M is reachable in my lifetime.
     
  5. galt

    galt Formula 3
    Owner

    Jun 19, 2005
    1,141
    BTW, does anyone have any data on what happened to prices in 2008. That was a very big financial crisis and should be a pretty relevant data point to this discussion I would think.
     
  6. The Red Baron

    The Red Baron Formula 3

    Jan 3, 2005
    1,158
    Full Name:
    Warren
    I would say your likely to be 100% correct
     
  7. lear60man

    lear60man Formula 3

    May 29, 2004
    1,829
    Los Angeles
    Full Name:
    Christian
    I bought a TR in 2005 for 60k and sold it for the same in 07. I saw it sell on Ebay for 45k 09? Then for some reason I was offered again around 2011 for 75k at Ferrari of Tampa. Dont know where it went after that. So Ill say at the worst peak to valley the TR market took a 20% hit.

    The 2007 recession was a bad one. If history repeats itself and does another 20% correction you would still be way ahead of the curve compared to 2007.
     
  8. The Red Baron

    The Red Baron Formula 3

    Jan 3, 2005
    1,158
    Full Name:
    Warren
    I thought it was about a 25% over the board reduction, however that is only a guess. The 1991 crash seemed to me to be worse. possibly hit different models.
     
  9. proof69

    proof69 Formula 3

    Sep 14, 2014
    1,003

    They only made 10. I don't care what the general collector car market does. These are not going down.
     
  10. Phil~

    Phil~ F1 Rookie
    Rossa Subscribed

    Aug 25, 2013
    3,937
    Potomac, Maryland
    When the market corrects itself ill take an McLaren F1 for 500k. ;)
     
  11. LARRYH

    LARRYH F1 Veteran
    Owner Rossa Subscribed

    Jun 3, 2011
    9,718
    virginia usa
    around 30% .. from what I recall you could buy the nicest of a model for about the price of an average cond car of the same model ... now the lesser condition cars took a big hit. THis was a time when many people needed the cash to pay off other investments .. THe thing the saved us from a larger crash was that things started looking better the next year or so.. If it had been a prolonged down turn (in the car market) prices would have dropped much more..
     
  12. proof69

    proof69 Formula 3

    Sep 14, 2014
    1,003

    Good luck with that.
     
  13. hhibbett

    hhibbett Karting

    Aug 24, 2008
    97
    It is a beautiful car indeed.

    But, since beauty is in the eye of the beholder, my favorite Ferraris are the 250 Cal Sypder SWB, 250 TR, and the 250 LM (I guess I like 250's) :)
     
  14. Stevenb

    Stevenb F1 Rookie

    Aug 5, 2012
    2,799
    Los Angeles
    Full Name:
    Steven
    In a perfect world: Enzo, Speciale, F12 and a manual 599 GTO
     
  15. GTS Bruce

    GTS Bruce Formula Junior

    Oct 10, 2012
    806
    Orchard Park NY
    Full Name:
    Bruce Roche
    250 GTO.Yeah forget about it...How about an F12. GTS Bruce
     
  16. Super_Dave

    Super_Dave Formula Junior

    Oct 6, 2014
    710
    USA
    Full Name:
    Dave
    Wow, another market-related thread... we need more of these... :) At least there is a slightly different spin on it.

    Market is clearly in bullish territory across bunch of asset classes but some bubbles are starting to unwind or be recognized (popularly) as bubbles. Mindsets are starting to come around.

    What will I buy? If clean examples of F40s are in the $500k range that will be my car. Not because i would expect a big run-up but because that simply IS the dream car for me. 288 GTO is a close second but I would expect a smaller correction there and so will still likely be out of my reach.

    2008 was not a great indicator. There wasn't the same sort of run-up in values. Late 80s was the relevant comparison. Prices dropped by over 50%, including on the creme de la creme examples and models out there.
     
  17. The Red Baron

    The Red Baron Formula 3

    Jan 3, 2005
    1,158
    Full Name:
    Warren
    The 288GTO has percentage wise increased dramatically in the last year.
    Mind you there are only 272 of them made but will that support the whopping increase
    they have seen.
     
  18. mclaudio

    mclaudio Formula 3

    Dec 13, 2003
    1,273
    Seattle area
    Full Name:
    Claudio
    Market correction or not, the cars to watch for me are certain 60s prototype endurance race cars (Porsche 910, 718 RSK, Dino 206 SP, 250LM, P3/4) and 90s endurance race cars (F40LM, 911GT1, 355GT, F1 GTR, CLK GTR).

    As a mental masturbation exercise, picking up a 910 or RSK would be nice. Jury is still out on the turbo cars in my list.
     

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