599 PREMIUM OVER LIST?

Here we go seems like the very first one's are going to bring 100 plus.http://cgi.ebay.com/ebaymotors/FERRARI-599-FIRST-POSTION-CAR_W0QQitemZ160015341782QQihZ006QQcategoryZ6212QQrdZ1QQcmdZViewItem

 

....two years from now, they will be selling for less than MSRP.

 

I don't think that Ebay auction is going to last, I'm not sure you can "sell" the premium on a car on ebay? How is this contractually enforceable.

 

Sure its enforceable....I sold my SL65 contract on ebay. Anyone who ponies up $100K over for a 599 is not smart.........that car (like all the modern 12s), will depreciate like a brick. If you can get an early car........make your 100K and buy it back at 1/2 MSRP in 5 years. Chances are it will have less than 1500 miles on it anyway.

 

Maybe in Europe but not here in the US.
You can check back with me in two years time to see who's right.

 

...so what does that say about the European buyer versus the US buyer...?

 

Europeans are not idiots? They also actually drive their cars..........even in the rain! Heaven Forbid!!!!

 

Forgive me, but I think you are profoundly incorrect. Unless of course you think the folks in Italy are as foolish as the folks in Germany.

a) the waiting list at every dealer I've checked is 2-3 yrs deep
b) 1/2 MSRP? As they say in Mexico, "En sus sueneos"

Now a Mercedes, especially a CL65 (or a CL anything these days), yes, of course you are right. My local dealer, with whom in the past I've done much business will do anything to get me to sign right now.

Both Ferrari dealers in town, foggetabbouttit.

But what do I know?

 

Your comment makes zero sense.....550's are Yugos? I am sure 550/575 owners would be happy to hear that their $250K car is a Yugo. The hype on the SuperAmerica and the 612 lasted about 30 mins and they are begining to freefall.

There are plenty of 550's for $110K and less...and that was a $250K car new. The 599 is just the latest 'bling' that Ferrari is peddling, and because people are nit wits and enamored with the name and the image, there are more nits wits than cars and the morons are ready to pony up. God bless the first few guys that flip 'em and make some $$. They can buy it back at a discount.......and chances are the car will have little more use than the drive to the local night club and Starbucks, because the first time the poser/owner steps on the gas the seats will be stained. I am sure it is a brilliantly performing car, but the average buyer would probably be able to use a 308's performance more than this car's.

From a styling side Ferrari has lost the plot........when I see a 550, I often mistake it for a Camaro......and the 599 I am afraid looks like a $300K Corvette. Moral is, Buy what you like, but......Don't pay a premium!

 

Close friend of mine paid a premium of US$ 160 K over MSRP for a brand new 599 GTB Fiorano US version, confirmed contract only. Car not yet delivered.
Marcel Massini

 

You guys are just being mean.......I gave my 550 a meal of 92 octane, a big hug and tucked it into it's soft car cover after reading your comments.....

 

That you guys are spoiled with TOO MUCH allocation.
Ferrari should take away some cars from the European market and give them to the US.
Then you will see resales equal out.But that won't ever happen.

 

Ok, first of all, the 612 is a 2+2, which have never been hot with Ferrari...and the Superamerica is STILL selling for over msrp used, so I don't think that could be considered a freefall.

As far as plenty of 550s under 110k, you must be talking about the 6-7 yr old cars with over 15k miles.....

These cars will hold their value, they're one of the best Ferraris ever made.

 

The editor of EVO agrees with your assessment of the 550. But in the extended writeup of the 599 in the July issue, it is apparent that a new benchmark in performance has been set. In my view, the 599 is an exceedingly handsome car, extending the classic look of the Ferrari automobile.

Steve

 

I think the 599 is beautiful, but admittedly similar to a Corvette to the unappreciative eye. Or was the Corvette too similar to the 360...?

Even Ferrari's that "drop like a brick" in value, beat the depreciation curve of most cars (50% in 3 years - 40% in 1 year for AMG CL's). My advice to most buyers is figure out how much per year you want to spend and spend it on the car you want. Never any guarantees, but V8 Ferraris have seemed to outrun the tech and real estate bubbles for holding value. If you can't afford to take the risk, don't roll the dice. Just one soccer mom in an SUV...

Modern V12's just don't seem to scream SEX like the 8's have. Hopefully that will change with the Fiorano. Maybe if they ran in NASCAR...just kidding.

Tom LaPointe
Sterns Automotive Strategies
[email protected]

 

What many critics of the 599' styling fail to understand as they compare its looks with corvettes, et al, is that all have borrowed styling cues from Ferrari to begin with.
There is no reason for Ferrari/Pininfarina to acknowledge any claim other than that the 599 looks like a "ferrari".
As to value, given the prices we're talking about, my philosophy is buy it to keep or don't buy it at all!

 

There is nothing that compares to to the feeling of a front engine V12 Ferrari, going back to the 50s and 60s, - the old 250's, 275's, 330's, 365's, 410SA's, Daytonas and onto the their modern reincarnation, the 550/575.
The cars are simply wonderful. I personally believe that a 550 is probably the best car for the money regardless out there and the 599 has upped the stakes in the Ultra GT class significantly.

I believe the 599 has been elevated to the level of the 430 in terms of demand v supply and will maintain a strong valuation for years to come. The 550 and 575 never had 3 year lead times at their debut.

I'm not sure that I would pay $160K over like Marcel's friend, but the car will certainly attract a nice premium and will maintain that based on the very limited number of 599's bound for the US (about 200 in 2007 according to a highly placed source within Ferrari Spa that I spoke to at the factory a few weeks ago.)

 

Many 599s have already been delivered in Europe. Just yesterday Sunday I attended a smaller meet here in Switzerland where 2 brand new 599s turned up. This car is sensational and IMHO looks gorgeous, especially from three quarter rear and in a soft color like gunmetal grey or anthracite or darkblue. Real killer. I like it very much but wouldn't want to wait 2 or more years. If I could get one within - say two months time - I would probably pay US$ 50 K premium over MSRP but not more. If they can't deliver, well, then I can go over the street and buy something else, it's that easy. It's a free world. Here's a pic I took yesterday of S/N 147116 and 147117 at yesterday's meet in Switzerland.
COPYRIGHT MARCEL MASSINI
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hmmm Argento.... I think its my fav color .

 

Nice pics Marcel - thank you.

I like the car in dark colors. I saw a Black one with tan interior at the factory ready for delivery. It was simply stunning in the flesh!

 

If only 200 are coming to the States in 2007 the car will command a huge premium over sticker. I would think $100K plus over MSRP will be the norm. With such low allocation numbers in the States only the best Ferrari customers are going to get the car at MSRP during the first year. How many of them will be looking to flip it? I doubt many will if the car is as great as everyone says. That will drive prices up even more. Ferrari is in a great situation though. Every F430 coupe, F430 spider and now the 599 GTB Fiorano (I assume that is the case for the 599)is sold out for their entire US production cycle.

Does anyone know what production targets ferrari has for the 599?

 

Hi A.P.
Here are two more shots I took of 147117 last Sunday. I think it's a great car in this color.
COPYRIGHT MARCEL MASSINI
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is that a little rain i see??!!

 

Any idea how many are coming to Canada?