There are SEVEN F430 Spiders for sale at siliconvalleyautogroup.com. Seven. And here I thought this car was impossible to get. Or at least tough. No I am not an owner of one of them nor an employee of SVAG.
inventories are increasing rapidly....Increasing supply with no increase in demand can only mean one thing....hold on, let me check my econ 101 text book for the answer..........
Six of them have about or less than 3600 miles. What, it's not cool anymore?!? Sad. Nice car. They should keep it and keep driving it.
For about 8 months, I have been suggesting that a fall was in the works. I predicted a decline in prices well before the collapse of the housing market and the subprime mess. This is not to brag, but it is to say that some things are obvious, if one will just open his or her eyes. The subprime was about 950 billion dollars. The next shoe to drop will the overextended credit card debt of Americans. The credit card debt that is more than 45 days old is about 930 billion--almost another subprime meltdown. If the government decides to stay on track with its subprime bailout, the pain will be longer and worse. (Have you ever known goverment to solve a problem? No, they always make it worse.) After those two, look for a jobs slowdown, and a much less liquid economy. I am not some fortune teller--it is my job to assimilate information and make assessments which seem obvious. Our company pays good money to get advised on these things, and the information we get is pretty reliable. We make investment decisions based on this, so we--obviously--believe this stuff. So, in light of the bad news, and my bad forecast, how does this relate to Ferraris and pricing? OK, here is my advice. In 6 months prices will be about 20% to 25% lower. If you have a car, and are in need of a sale, CUT YOUR PRICE BY 10% RIGHT NOW. The car will sell--because you get ahead of the curve. And, in 6 months, you will be laughing because you got out early. Although it is based on good information, in the end, you can say that the things written here are just my opinion, but if you research my posts, you will see I am right. For the next year, get your powder dry and hoard cash. You will find incredible buying opportunities in all aspects of life. (Want a good gold Rolex--the jewelers are up to their ears in them.)
I'm at a lost here. Sure there are a lot of cars and these previous owners will probably not be getting any more cars from Ferrari. Second of all, these cars are still 50-70K over MSRP. Sure there's inventory, but if you are willing to pay those prices for one, more power to you.
this message isnt directed at anyone specific, just a general thought out loud. who cares? if u can afford the car buy one, who cares where or how much? if u cant afford one, stop taking up space in the world because u have pen*s envy. life is short, paying $200,000 for a car isn't a rational thing to begin with. Who cares if there are alot of them, or a few of them, or if the price is $25,000 more or less than it was 6 months ago. Seriously, its the most hysterical thing Ive ever heard. If you can afford the car, buy one. If not, go buy some t bills, those wont be worth any less in 30 years than they are now.
Wealthy people didn't get their money by being stupid. That was an ignorant statement. On that note, I'm going to go enjoy New Years Eve! Have a good one chaps. Joe
I don't know who you are, but your message is going to be 100% the truth. You and your company are right on and it is too bad this is going to happen, but better to be forewarned. Thanks abd Happy New Year, Al
joe, if this was directed at me, wealthy people dont buy toys worrying about them depreciating. They KNOW they will depreciate. And if ur in the market for a $200,000 car and CAN afford it, ur not sweating a $50,000 loss, atleast not here in the NYC area. and PS, until someone off the street can go into a ferrari dealer and in real time buy a brand new ferrari for MSRP there is a natural floor to the price.
happy new year Al, hope your holidays are going well and your handicap is staying low....the 430 spider and coupe are both amazing cars...i am trying to hold out a little longer but i dont know if i can resist....
DRIVE550PFB -- I think your assessment is entirely correct. You can see softness in the leading edge indicators. I think there will be some great deals on exotic cars in six to nine months.
This is the time of year to buy a sports car. There is definitely a seasonal market for Ferraris, probably less here in CA than the rest of the country, but it is still a big factor. Gary
I want this one that Roy has listed for $286k I believe.. Image Unavailable, Please Login Image Unavailable, Please Login
Anything can happen. All I know is that I bought my 430 one year ago to the day and I love it more than the day I bought it! There is softening in the markets discussed earlier in this post. There is uncertainty and speculation. There are a lot of 430's sitting in dealerships at the moment and a new model is not far away. As far as Spiders, this is the WORST time of the year to sell one anywhere. I live today, not in the past or future. Im never going to take for granted that I am lucky enough to be one of the few people who can say that they own a 430. It is a shame that so many people sell them with under 5000 miles on em, many with a lot less. We all know that a lot people buy these cars when maybe it was a risky move for them. Big toys are always the first thing to go. Some buy them who can afford them but decide it's not worth holding onto. The economic factors at the moment are getting people nervous. Too bad, because one of the things that happens is what we are seeing with growing dealer inventories. I dunno....I just wish you all a Happy and Healthy New Year
What QKsilver said is true. Just because they have enough money to buy the car doesn't mean that they can go out and buy anything.
The used modern Ferrari market has two broadly defined types of people active in it - drivers and investors. The drivers will buy the car at the price that makes sense to them, use it, enjoy and understand that its value is a moving target dependent on general economic conditions and specific supply and demand for their car model. By and large they don't give much thought to value because they bought the car to use and enjoy. Investors on the other hand are confusing modern unlimited production cars with real investment assets. They will see their rear end at some point. If you want to invest in cars, make sure they are very old, at least 40 years or more, very desirable and very rare. That's when they can be called assets.
amen. and maybe im in the minority but most of the guys i know making $5M+ a year who have $25M in the bank, the furthest thing on their mind is the amount of dollars *lost* due to depreciation on their toys. to each their own.
As someone who is currently looking to buy a 360, I can say that I'm NOT someone making $5MM a year So, I do appreciate the market update. While I don't "worry" necessarily about the price depreciation, I simply refuse to pay over MSRP. If demand is higher than supply, they should just raise the MSRP. Hopefully, the 430 prices will come down soon. I bought my Gallardo after it was "affordable." Hoping to do the same with a 360. My goal is to drive it for a while, and sell it for minimal loss. I may be wrong, but if I buy a 430 for over MSRP, by the time I'm ready to sell it will be below MSRP and more inline with "used car prices."
