Finding your Ferrari...........what's really available out there? | FerrariChat

Finding your Ferrari...........what's really available out there?

Discussion in 'Ferrari Discussion (not model specific)' started by PeterS, Dec 11, 2021.

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  1. PeterS

    PeterS Five Time F1 World Champ
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    Jan 24, 2003
    52,029
    Goodyear, AZ
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    PeterS
    In looking at the first 50 listings on the Classified section, there are more people posting WANTED than those posting FOR SALE. Is this an average barometer for the market right now? I started my hunt for a 308 or a 360 (it was a coin toss) several months ago in which this week I feel I kinda lucked out.

    So the question is: A) Are available cars in the pre-owned market starting to dry up a bit and B) Would it be prudent to say that there will be no further downturns in resale values, i.e.: Its gonna just keep climbing and climbing and more people are starting to hold on to the cars they have?
     
  2. Dave Bertrand

    Dave Bertrand Formula Junior
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    Dec 24, 2005
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    Castle Rock, CO
    I don't think that would be prudent to say. The markets for luxury goods have always been up and down. Right now there's a lot of demand which is what's driving up values for certain models. Will it continue indefinitely? Shirley not. When the economy cools and we slip into the next recession, prices will fall back to earth. It's the same for all luxury goods from Rolexes to artwork to exotic cars.
     
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  3. JP365

    JP365 Formula 3

    Mar 8, 2007
    1,433
    Chicago
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    John F
    IMHO, we are in another soufflé. Same as 1989, 2006, 2016, etc. The market is overheated and getting filled with more hot air every month. People who have money are parking it in places that are beating inflation. When is the correction coming? Just guessing, about 16-24 months. I gave up trying to figure out the irrational nature of the collector car market. Historically, fewer cars are available in the winter. However, cars available in the winter are often being sold because the owner needs funds or space for something coming. I literally spoke with an F-Chatter on Sunday who is getting rid of a muscle car to free up space for a Ferrari project he has. I don’t think he needs the money, and he isn’t going to give the car away, but if someone shows up with cash within 10%+/- he’d probably take it because he wants the space. In these cases cash talks. Also, more people are using brokers to buy and sell. Much like pocket listings in real estate, I think most of those cars are sold before the general public ever knows the car is/was available.
     
  4. PeterS

    PeterS Five Time F1 World Champ
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    You could be quite correct. My guess is that if prices 'fall back to earth', they will still be above price levels of 12-18 months ago. I just can't see a down-tick bad enough to where a $75K 308 today will hit $50K - $55K tomorrow.
     
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  5. JP365

    JP365 Formula 3

    Mar 8, 2007
    1,433
    Chicago
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    John F
    1989 was the mother of all car market crashes. In 1987 my father’s 365 gt 2+2 was $22,500. In 1989 my father was offered 150,000. In 1992 it would have probably brought 45,000. It’s happened before and I’m not so sure it isn’t going to happen again. Boomers are still driving the market. I don’t see Gen Xers buying 60s cars I se them buying 80s-early 2000s cars. Maybe. So your 308 might not crash as badly as cars in 1989 did, but I wouldn’t bet my retirement on it.
     
  6. ginoBBi512

    ginoBBi512 F1 Rookie
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    Oct 9, 2016
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    If your buying a Ferrari based on the resale value, then maybe you should leave it for someone else ?

    Thank you
     
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  7. PeterS

    PeterS Five Time F1 World Champ
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    Nope. My wife will sell the car the day I drop dead! She has pics and my FCHAT password so keep an eye out.

    ............excuse me, off to get another nytro pill :p
     
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  8. JTSE30

    JTSE30 F1 Rookie

    Oct 1, 2004
    3,559
    Austin TX
    Except,

    what previous economic bust cycle included the complete disappearance of combustion engines?

    there are many who understand this and more will become aware in the next several years

    if this was some 'standard cycle' why are some many cars being bought, depleting inventories, even higher selling prices are not finding a stampede of sellers...something different going on...I expect that to be the new way, the timing of the end-of-combustion happened to correspond to other global events, which are not sufficient cause for the effects being seen (some cause of course, but not the primary driver of 'what next'..since there is no 'next' for many exotics using combustion only drivetrains...except the preowned hunting grounds)
     
  9. Solid State

    Solid State F1 World Champ
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    Feb 4, 2014
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    Maximus Decimus Meridius
    Surely you are right but pre-Manzoni cars will hold much better. And stop calling me Shirley.
     
  10. jjmalez

    jjmalez F1 Veteran
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    Apr 8, 2005
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    Joseph

    Surely you're not the only one that misses Pininfarina. I would go a bit farther and say pre-Marchionne cars may do better still.

    Joe
     
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  11. mj1214

    mj1214 Rookie

    Jun 10, 2021
    7
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    Mark
    I can’t see 458 prices being back around 150 even with a pullback in the economy


    Sent from my iPhone using FerrariChat.com mobile app
     
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