is the bubble due to burst?

Beautiful Daytona Spider for sale at Algar that was just purchased back in February at RM Paris auction. Depending on what the euro was then the current owner/seller may be taking a loss. There is also another thread here about some recent purchases now for sale. (I think the 250 GT California Spider 1503 GT) 1503 GT just sold at the RM factory auction a few months ago.

Is it a sign of the market slowing down when people buy stuff at auction and in less than a year want out?

In my trading days we would joke about the Greater Fool Theory. Buy something today with no regard for price because a greater fool will buy it for more tomorrow. Maybe these cars are not flipping like they used to??

 

Here is one that can't seem to find an end user. Looks like it has been flipped 3-4 times, now on the downward trend.

http://www.naplesmotorsports.com/vehicle-details/1993-ferrari-testarossa-512tr-coupe-e6c564194a3546b7bacfd2db75f8a15e

https://www.ebay.com/itm/1993-Ferrari-512TR/132401902125?hash=item1ed3c4b22d:g:mKAAAOSwX3FaDjOq&vxp=mtr

 

Did the strange paint stripes add. Or subtract value?

Matt

 

IS THIS STILL THE BUYERS BIBLE , 11 YEARS ON ???

 

Maybe this Zero Hedge article will bring the "Bubble Thread" back from the dead. I've also posted the article in Silver in the Zero Hedge thread about their investment ideas:

Here is a ZH chicken-little sky is falling car-related article to put a caboose on this thread that seems to confirm most of the above comments. I'm also going to post it in the notorious "Bubble Thread" in the vintage section, where I'm sure it will get a lot of comments as it is based almost entirely on Hagerty data and not the emerging auction season:

https://www.zerohedge.com/news/2018-01-18/recovery-vintage-car-prices-crash-more-20089​

 

It should go without saying at this point that years on from the start of this discussion, there was no bubble and it hasn't burst. A slow decline in prices is basically the anti-definition of a bubble bursting.

 

this is on the same day an f40 sold at auction for 1.5+M. mmmhh

and during the financial crisis stuff was down over 50% easy.

 

True story and I agree but there was a bubble on the higher production cars (especially 80s). And the prices didn't just decline slowly, they tanked and tanked quickly. They landed higher than before but it was still a big pull back. Everything else rare experienced only a minor decline. Still plenty of fun cars out there for reasonable and fair prices. Markets rise and markets fall and more than likely the market will go down again before experiencing another surge like what was seen in the end of 2013. Buy something because you like it and feel comfortable paying for it. Do not get suckered into the "get it now while it's cheap before the train leaves" mentality.

The only thing I still find disturbing is the majority of the 80s and early 90s cars for sale (which was the snake-oil of the last surge) is still overwhelmingly and almost exlusively being held by brokers and dealers.

 

The 550 took a huge hit. There are a few out there now under 100k higher mileage but still quite the car. Customer of mine sold his at the hight of the craze. He paid 80k cnd for it, and sold it for 220k usd. He did very well. I wonder how the current owner feels about his purchase now?

 

but they were on their way to $1M......

 

Everything in ferrari land is on its way to a million supposedly..

 

Today at BJ there was a gorgeous 599 with special metallic red paint and it went for $185K

I don't think all Ferrari's are on their way up. $185K plus another 60K will get you a new Portofino.

 

Didn't a 6 speed 599 go for 500k today?

Sent from my BBB100-3 using Tapatalk

 

Time hasn’t ended yet...



Matt

 

That was a 2007 and if you add in auction fees closer to 195k which is very high for an 07 599.

 

I know right? What happened?! Hehehe.

BTW I found that car to be a huge let down. Loose steering with little to no feel. Rear end of the car squats up and down like a kid playing musical chairs in preschool. And you have to rip apart the entire exhaust in order to hear anything. I had a capristo exhaust and centerpipe on mine and still couldn't hear a thing. Had to put test pipes in it. If I wanted a car that Drove, felt, and sounded like a CL Mercedes, I would have bought a CL Mercedes. The only redeeming qualities I found in it were the styling (it is probably the prettiest Ferrari of the past 25 years) the feel of the shifter, and the speed (It was a freight train). But the problem was as fast as that car is, it didn't FEEL fast. I'll be sure to buy another one when I'm 85 or 90 years old and only have a few years of driving left in me.

 

does this help or hurt the bubble?

https://newyork.craigslist.org/wch/cto/d/1963-ferrari-400-superamerica/6467923451.html

 

Soon on Bring a trailer

 

I think (and I could be wrong here) that the Monterey Auctions are really geared to the International (Ferrari) crowds and the Scottsdale to more now towards domestic. There was no buzz this year about European cars. Monterey may be sucking all the oxygen out of the room.

 

My definition of the bubble bursting;

250 California Spyders under $1 million
250 GTO's under $10 million
Daytona coupes under $200,000
275 GTB/4's under $500,000

Don't ask where the modern V-8's would be.

 

Zerohedge is like getting your news from "Addicting Info" or "Info Wars." Permabears (and Permabulls) given an infinite time horizon - will be eventually right...too bad they do such a lousy job on what matters - calling exactly when to pull in or pull out. Can you imagine being able to buy options with no expiration date or price premium to reflect that deal?

Bradwilliams and his pal: Super_dave (self-described 'expert in bubbles' that told everybody here to get out of not only all cars, but stocks, and housing back in 2015) - Brad agreed, and has been preaching inflated prices since 2013...

Bradwilliams, do I really need to pull out the numerous (20+) links to the posts you've been posting for years (like the one where you made fun of the guy that bought a TR pre run-up)? It was 50K wasn't it for a low milage TR? You said he was drunk?

I seriously don't understand how you can show your face around here given numerous people witnessed exactly what I'm talking about.



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#5029 SA

 

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my daily autotrader alerts...... something go pop ?

 

Absent some elaboration on miles, history and condition, that doesn't prove anything.