488 Asking price jumped overnight

I certainly agree that context is key, but often times the actual context is ambiguous. I think there are roughly two groups of individuals on Fchat: the group that $50,000 in depreciation probably should give someone pause, and the group that $50,000 in depreciation probably shouldn’t give someone pause. I was speaking directly to the latter. I was in that group for a decade. It paralyzed me from moving forward on a lifelong dream.

Also, worth noting too, that only $80,000 of the $230,000ish in depreciation has been realized. The other two cars are keeper cars and I intend to die with them in my possession. That long (hopefully quite long) ownership horizon also helps to lesson the psychic blow of depreciation.

Ultimately, I find myself solidly in the camp of not letting the price of admission keep you from enjoying the pleasure of the event.

 

And I was speaking to the former, which I thought was a better fit for the guy in question......who openly asked for opinions concerning depreciation and market timing....which I'm VERY sure you would not do in your situation with your resources.

 

Actually life IS too short hence why purchases of this type need to be made sooner than later. You can NEVER buy back time. Time is priceless!

If one doesnt want to lose money then better to not buy any car. Its much the same thing buying a car like this and then being too scared to use it in fear of losing money.

 

cant argue with that view

 

This is my way of dealing with depreciation. I just don't sell the car then I don't have to face the lower price and remind myself how much I have lost. I don't view cars as assets

 

The most enjoyable car purchase is the one where you lose all care or thought about the odo reading.

 

Absolutely. I am about to break 9k miles in FF and 6k miles in the 458.

 

So after sitting unsold for several months the day after I posted the above this car is now pending sale.
Anyone on F-chat jump on this after seeing this post ?

 

As far as timing to buy a car and waiting for the right price in the market. It's like buying a computer or even property (price/interest rates) for that matter. If you wait for the lowest price. You'll always be waiting. Once you've made the conscious decision to buy. Then go buy at the lowest price you can negotiate of course.

 

Find another car. There is no shortage of them out there

 

Exactly- or have some fun and play the game.

 

As my search for the next continues I’ve noticed prices falling every week. Then, a couple weeks ago I noticed a few dealers increasing prices slightly (10%) on cars that had been stagnate. It’s as if they were trying to artificially create urgency and or stem falling market values.

 

Or change your fishing spot.

 

I also think this is what's going on.....an attempt at creating the grand illusion. There are clearly far too many cars for sale for the used market to absorb at a price point which would return an acceptable price to the original purchaser hence why prices are now all over the place. Nobody really knows what to ask least of all take, and the buyers are reluctant to commit in fear of finding themselves in the same boat. The release of F8 added to even further cripple the situation created by Ferrari.....if that was even thought possible. It's a disaster at every level so it becomes a case where one needs to enter into the purchase accepting the fact that at one point a beating is inevitable.....hence why it's now so important to drive the pants out of it while you own it instead of thinking it's some precious object which should only be driven on special occasions.

 

At this point I'd just wait till the week tween xmas and new year with money in hand and have them all fight over each other trying to make their numbers.

 

Agree a good plan. New year would be even better as then the car is officially another year older and worth even less again....and with Christmas done and holiday season happening most of the money is gone so anyone even showing the slightest interest will be nailed down into deals.

 

find another dealer, plenty of cars out there...

 

I've seen the same up/down pricing as I've been searching for a 488 or F12. The CarGuru website will show the price history of the car and the number of cars where the price goes down then back up is quite surprising.

 

When l was 12 a Ferrari drove by. Most amazing sound l ever heard. Started buying car mags with articles on Ferrari. Of course the articles all raved about how great the cars are. I don’t know the model of the car that drove by. But l vowed that someday l would own a Ferrari. That was 1957.

In June 2000 l bought a used F355 F1 GTS. One of the best sounding Fcars ever made. Then l heard an F355 with a Tubi exhaust and had to have it.

My kids are grown and all through school. I really don’t spend much money or travel. I look at the 458 Spider as a sunk cost and buy the $4,500 warranty every year because l don’t want to have to sell some assets in a down market for a new transmission or engine.

Owning the 458 Spider is as enjoyable to me as the house. In short, if you find a car you like and you can afford it BUY THE CAR!

 

Plus 1


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