These posts dont belong in this thread.
when my father still have been alive he always says: when it is sunshine the banks give you an ambrelly to have shadow, but when it rains the bank wants their ambrellas back same as me, but for daily transaction you need them why not? it is about price trends
Yes...I really meant for capital...not operating. ....and your dad was right. Shamile Freeze....Miami Vice! Sent from my SM-G950U using Tapatalk
Classic cars cost $$$ to maintain. Some owners may just park for a year or two, others will want to get rid of expenses now. If they own the asset and sell for 60k and get rid of 5-10k in yearly expenses that will be the equation, not whether the asett once was and maybe will be again worth 100k. There are too many testarossas for the price to hold. Nice Daytonas are already well below 500k. As for comercial RE, in big cities 2 years from now when mass transit is viable again, maybe enough of it can covert into residential to balance out. For the rest yes many can do some work from home, so you need an office for 2-3 days per employee not 5. I wonder whether well see mini comuter cities springing up. For sure the private car is not dead, that trend is going to reverse hard core. Office parks near suburbs and semi rural areas may do well.
I agree with the housing market part, so far Real Estate here is also very strong. Only difference is that instead of selling within days its taking 2 weeks now, but still for asking or more. I would be a cash car buyer, keep the loans and banks out of my life as much as possible. Not much has changed for some, but for others they've gone 5 weeks now without a check, and a $1200 stimulus check is going to last all but 5 minutes. The problem isn't now, its the ripple effect this will have for the long term. The cooks and servers at your favorite restaurants are out of work, but eventually the restaurant goes under. Now the owners will default on their mortgages, times that by 1000 in your area and the domino effect will be in full swing. 300 people loose their power and gas jobs, not a "biggie" but when 100 companies lay off 300 each, that's the scary part where it'll become a reality for all of us. For those that can weather the storm, their best cars will not sell, they will stay put in their heated garages. The mediocre cars will pop up for sale at decent or great deals. Can we expect at least a 10% drop on houses and cars? yes, but for them killer deals you will have to be extremely lucky or buy just ok cars. Just my 2 cents
Kissime auction florida January month. Prices have not risen since. Sellers can ask all they want, there have been otehr saoes I just cant recall on daytonas. BBIs which I follow most closely, were hitting 400k at peak late 14/15. Now they will be lucky to hit 220k for similar cars. Ill bet if you really want to sell 200k is more the number and possibly even less than that. The best most reliable yardstick is 05/06 Ford Gts because most are stock and lowish miles so easy condition compros. With the exception of near 0 mile cars and hertigae paint examples, most that have sold recently have sold for less or more acuratly bid to way less on a NS. We all want to believe we're holding gold. Near collectable ferraris of which the Trs are certainly part, have steadily fallen in value since the 14/15 peak, the current market is not going to be reversing that trend. In General a BBi is 40-50% of a Daytona and a Testarossa 40-45% of a BBi. 512m is its own baby because only 75 in Usa. But there were lots of testarossas. 308s and 328s falling too. Were back to 13 prices. Lets see if cars(other than exceptional rare) become a tangible asett thing again, otherwise the price trend will be lower as there will clearly be less people with the money to play in the expensive to keep car hobby, at least for a while. Long term i have felt for many years that the tessarossa is an it car. It epitomizes and era, its dramatic as a 57 caddy, its useable in a way earlier cars are not(ac relatively easy to steer), plus its performance wont leave anyone wanting and its still a classic viceral drive.
This was the Mecum result. One sold at $544 and two no sales with high bids from 500 tp 2,200 usd. Any auctions post covid-19? If these cars tank... the Testarossa will drop further... faster. Image Unavailable, Please Login Image Unavailable, Please Login
shamile, have a look here at post 11011: https://www.ferrarichat.com/forum/threads/more-old-photos.89883/page-441#post-147165705
This is not what those following the market closely are seeing, the FGTs with miles (5k-9k) sold in the past 6 weeks are still within the pre-virus formula that has been valid for the past year plus. There has been no softening here, and the bottom end of that market (ask $240k or less) has completely disappeared (except for one car with multiple accidents and a seller with an interesting reputation) , no cars being offered when in Sept-Jan there was usually 3-4 at most times.
I'm trying to get into a TR. I like the styling of the early ones, and there are a few that are selling for relatively cheap. Should I give them a go or not?
I would only consider a car with documented service history. These are reliable and cost you at lot less after the purchase. Better to pay a little more upfront. Sent from my iPhone using FerrariChat
Data point I sold my 92 512TR 24k miles a few weeks ago in the mid 100’s. It was perfect with full history from day one. It was close to needing a major. With that cost in mind it was a 165 car. I had a handful of interested buyers all offering fairly reasonable numbers. For me the chance to own the TR was a life dream fulfilled. Five years and only 2500 miles I should have driven more. I loved driving it and it loved the highway best and higher speed twisties. They are iconic beautiful cars. DO NOT waste your life trying to pinpoint minimum entry price. Find it drive it love it. Mine was only in the shop one time outside annual services. I only sold it since I bought a couple other cars I wanted to try and really didn’t have the space or money to justify keeping it for now. Time will tell if I get another one. I do miss it already. I’m sure in the short term prices will stay a little soft but for us that grew up in the 80’s this was it! So plenty of demand for only 408 US cars (512TR) in the long run. Sent from my iPhone using FerrariChat
2500 miles in 5 years?? I hope you drive your new acquisitions more like you stole it! lol ....btw, what did you get and first impressions compared to your former TR Shamile Freeze....Miami Vice! Sent from my SM-G950U using Tapatalk
Haha so true. It was on a lift and in a back spot so it was always difficult to get out. Otherwise I’m sure I would have added more miles. It’s started with selling a California and buying a 488 Spider. The 488 being similar to the TR in that it was rear engine with some of the same compromises started me thinking we needed another GT. So bought a 599 HGTE on a whim and therefor needed to put up the TR. The 599 is a beast but I can’t give an accurate comparison since I learned the tires are 10 year old originals and I’ve ordered and waiting for replacements. So I’m driving Fred Flintstone style. The F1 gear change under throttle is a thrill. However around town it’s a little laggy. TR Gated manual far better. I’ve already done some exhaust mods but still can’t get a sound as good as a had on the TR with Capristo. So far in summary I’m not super thrilled. Of course the wife likes the GT comfort. We put about 18k miles on our Cali in 4 years so the 599 would be used far more than the TR was. Done 1000 miles in the 488 and that car is near perfect in my opinion. Biggest downside is I know it’s going to be 100k depreciation for 3 years of fun. I will say the 488 is super thrill and the 599 is tbd. I put the TR on a pedestal and admired more and drove less. The newer cars are fun and more usable just less special I suppose. In my eyes anyways. Love that you drive your TR. I really thought about doing that before I bought the 599. Have enjoyed reading your posts of the years! Freeze! Sent from my iPhone using FerrariChat
