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Covid 19 price drops.

Discussion in 'Ferrari Discussion (not model specific)' started by Joff Clarke, Apr 11, 2020.

  1. Joff Clarke

    Joff Clarke Rookie

    Sep 21, 2017
    18
    Gulf Coast
    Full Name:
    John Clarke
    With this Covid 19 Virus hitting us so hard I'm seeing price drops like crazy. Is anyone else seeing these crazy price drops??? Its scary
     
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  3. AshAP

    AshAP Karting

    Apr 14, 2018
    113
    Haven’t seen any dealers dropping yet on FF/GTC4 Lusso but I’ve noticed quite a big drop on one private seller FF but I’m not keen on the interior.


    Sent from my iPhone using Tapatalk
     
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  4. Joff Clarke

    Joff Clarke Rookie

    Sep 21, 2017
    18
    Gulf Coast
    Full Name:
    John Clarke
    I sold my 458 last month for $170 and I'm now seeing similar cars selling for 15-20k less. Yikes If this keeps up I may buy another one, or maybe a 488
    My buddy just bought a Lamborghini 580-2 for $160. That was $20,000 off the asking price.
     
  5. khal360

    khal360 Karting

    Feb 17, 2005
    158
    On a slightly different note this is an article in Forbes about Ferrari’s stock price and how demand is not slipping and orders are not being cancelled. Not quite sure what to make of it.

    https://apple.news/A9nzw95IRSlSBIhAtnWD0xA

    Thoughts?
     
  6. LVP488

    LVP488 F1 Rookie

    Jan 21, 2017
    3,597
    France
    At least there will be no "supply chain issues" in April since Maranello and Modena facilities are shut down until May 3rd...
     
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  8. PA Wolfpacker

    PA Wolfpacker Formula Junior

    Aug 19, 2007
    484
    Naples, FL
    Full Name:
    Neil
    I don’t think Ferrari has been impacted yet. The secondary market is getting hammered with resale prices dropping fast. Ferrari may be impacted when the guy that upgraded from his 488 to a F8 finds out how little his car is worth. At that point Ferrari may have to adjust pricing to continue selling the cars from their increased production.
     
  9. thorn

    thorn F1 Rookie
    Silver Subscribed

    Aug 7, 2012
    2,921
    Tallahassee, FL
    Where? I haven't.
     
  10. freshmeat

    freshmeat F1 Veteran

    Aug 30, 2011
    7,018
    458s have been in the 150-170K range long before covid-19...

     
  11. ChipG

    ChipG Formula 3

    May 26, 2011
    1,252
    Santa Monica, CA
    Sounds like a PR move to try to restore confidence in the market that has taken a big hit, go over to the Pista & F8 thread, now people are canceling their orders in numbers like never before.

    It reminds me of a hedge fund investor on CNBC who hypes a stock then sells it.
     
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  13. RedNeck

    RedNeck F1 Veteran
    Silver Subscribed

    Jul 8, 2016
    6,072
    The CSA
    Full Name:
    Me
    ****, where? Been watching C7 Corvettes and haven't seen a dollar wiggle in the market.
     
  14. Auraraptor

    Auraraptor F1 World Champ
    Lifetime Rossa Owner

    Sep 25, 2002
    11,512
    MO
    Hmm, is that so. I should start looking at 458s...
     
  15. 2Velocebro

    2Velocebro Rookie

    Apr 13, 2018
    42
    Naples, Italy
    Full Name:
    Brandon Davis
    I'm not looking at models that new, so it may be a different story, but for the 3X8 models it appears as though prices were softening throughout 2019 anyways, and the covid lockdown is just amplifying the trend a little.
     
  16. flat_plane_eddie

    flat_plane_eddie F1 Rookie
    Silver Subscribed Owner

    Mar 30, 2013
    2,823
    Los Angeles
    Full Name:
    Eddie
    I haven't seen anything really drop. My thought is that most sellers hope/think this is going to be a short term thing. If we're going to be in a recession (or already are) then prices will come down significantly in the next 1-2 months.
     

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