im so glad i dont like the cars enough to care anymore!
Thats not necessarily true. Dealers are taking a risk in buying a high end car so they will want to steal it or do a deal on consignment which has little to no risk. If you were a dealer you would do the same.
412K is not well spec'd, that might be the lowest end spec there is which justifies the minimal premium.
I would ordinarily agree with you but such a low spec car makes me believe it "was a want to be buyer" who couldn't afford the car to begin with.
Well, those are the two ways to sell. Other would be private party and that in itself has a lot of limitations and drawbacks. Dealers, third party exotic dealers will generally buy the car from people (obviously; steal it but the key thing is what are they willing to buy it from you for relative to what the ask prices we are seeing). In the old days it could be $20K spread from what they ask vs what they buy. These days, they are having a much larger buffer with exotic cars. There is so much volatility these days that many don't want to insult you with the offer to buy the car but rather make you consign it and then make you wait, wait, wait and then steal it from underneath you.
Yes, the market is a bit sketchy - timing is everything right now. If you find the right person at the right time all is good otherwise you may wait a while or take much less than you hoped for. This may change in a month or two but who knows. Personally, I dont care and tired of all the BS around the resale values as I would guess most are. I heard this all the time with the McLaren 72o and now the Pista, nothing but noise.
There is infinitely more attention and discourse expended on resale values and depreciation than all other topics combined. Personally I do not find all the speculation and angst surrounding this topic particularly edifying or interesting. With the tiny morsel of exception, modern exotic, regular production cars are depreciating assets that are ill advised investments. I thoroughly enjoy bantering about high end vehicles and engaging in conversations about the cars. Not so much about the incessant prognosticating on future values.
I bet most of us here are in their 40's to 50's so you have maybe 20 years or so to really enjoy hardcore sports cars. When you are 70 years old you will look back and say that you should have put 30K miles on that darn Pista or whatever. You won't really be thinking about depreciation as it will likely not matter. One of my business partners has a difficult time parting with money until one day I explained to him that he will die with millions in the bank but his son will be sure to spend it all without a second thought. I think he is staring to get it.
I sold my 345 msrp 5 year old Speciale In January (with 5000 miles on it ) back to the dealer for .... 34o. So that guy was trying to **** you. Without any Vaseline .
Most on this forum will unhesitatingly spend multiple thousands on a one week holiday for the only purpose being enjoyment and sheer pleasure. Why the obsession over losing value on a fiscally imprudent decision like purchasing an exotic car? Buy it for its intended purpose which is the enhancement of ones enjoyment of life. If that enjoyment is mitigated or obviated due to the anxiety wrought by financial loss inherent in super car ownership, then perhaps the purchase should be reconsidered.
So this week I met with my biggest British distributors of my products (people I have worked with for 20 years in some cases) and they tell me that business in the UK has the crap scared out of them over Brexit, politics, and the pound dropping. I seriously think under these circumstances you can make claim that the problem is "Ferrari resale values".
I personally believe that this may be because most buyers cannot afford the car in the first place. For whatever reason they get into the car the first reaction is protect mode followed by getting right back out with no or minimal loss. Make your darn minds up. Uncertainty hurts those the keepers and drivers as well as the starers and flippers. Fill it with high test, get lost along the coast or a mountain pass and pull back in this a smile that wouldn't be easy to chisel off. We should have our owm lang of awesomeness. No grin - get out.
As someone who loves doing silly TM specs & then racking up miles with no possible chance of retaining value, I generally agree with you. Nonetheless, the historic Ferrari purchase model (at least over the past 10-15 years) has been to buy every or nearly every regular production model so that you qualify for the LE / NE models like the Pista, tdf, Speciale, SA, etc, etc, etc. Fortunately, you used to be able to sell your regular production buys without too much financial loss which should be important to any sane successful person who had to earn his or her own money. With ever increasing production volumes and no sub-$1M LE models anymore, coupled with rationalization in the secondary markets, that model is breaking down in a serious way. Fewer and fewer serial Ferrari purchasers may want to continue to play the game when they lose $100K plus on every regular production car they buy to get the few cars they really want - that now don’t really hold their value anymore either (witness softening tdf / Speciale / SA prices). Not to mention the serious time and financial commitment required to play the additional Ferrari social game obligations. Then add in ever-increasing complexity / # models / curb weight / cost / driver’s “aids” / counterintuitive regulatory add-ons like GPF... Should be interesting to watch this unfold from a business perspective. Sent from my iPhone using Tapatalk
The car I was referring to in my earlier message had a MSRP of over $500K. A Pista with MSRP of $420K would be similar to a basic launch spec car, very easy to move.
Bundy, you are spot on regarding the current Ferrari game. My Pista which should arrive by year end May be the last unless there is a 812 VS that is actually limited numbered edition versus limited production. ( not sure what limited production really means except they can produce a max number of 10,000 per year!) You have the right idea about TM. Do what you want, enjoy every drive and life will be fun.
Same, except I would venture to say I'll be looked over for the 812 VS since I turned down the GTS allocation. Nothing past the Pista excites me, the F8 is a dud.
I don't think the F8 is a dud , well neither the 488 GTB. However if they do a VS of the F8 it certainly going to go better than a Pista unless its purely Livery.
