F40 prices sinking fast? Asking below $499k and no takers | Page 21 | FerrariChat

F40 prices sinking fast? Asking below $499k and no takers

Discussion in '288GTO/F40/F50/Enzo/LaFerrari' started by mjw599, Nov 12, 2008.

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  1. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
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    Jim Glickenhaus
  2. joe sackey

    joe sackey Five Time F1 World Champ
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    May 23, 2006
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    I shudder to think what the "performance upgrade" consists of, and how the car's "GTM" 600 bhp specification was arrived at. Can you say "Hand Grenade"? Does anyone here know this specific car and its life story??

    I say the bids are 3 guys smoking a joint & having a good time on EBay...
     
  3. Caley

    Caley Karting

    Apr 25, 2007
    149
    Sweden
    Full Name:
    M Carlson

    This car was recently advertised by someone else and for a quite different price. And not at these special terms, that you should pay 50% before you pick it up.
    It might be wise to consider more than once before you send 50% in advance on any thing you buy, and especially on an F40 in these special times....

    Regards!
     
  4. joe sackey

    joe sackey Five Time F1 World Champ
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    I just love how these absolutely AWFUL examples of cars are used as suggested values for all F40s. I wouldn't pay $100 for that one, but there are some that I might pay $500k for... I think in this polarized and softer market, some less-than-impeccable things are just almost sale-proof.
     
  5. Caley

    Caley Karting

    Apr 25, 2007
    149
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    M Carlson

    Never forget the old saying - "there is no such thing as a free lunch". And the cost of fixing an F40 is something special, so sometimes the cheep ones are the most expensive ones. And there is probably a reason for requesting 50% down payment before picking up the car....
     
  6. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
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    Jim Glickenhaus
    Are you going to check it out? If it's lasted 23K KLM the mods can't be too bad. The fuel cells were replaced in 06. Germany has very strict DMV laws on the quality of modifications so if it's registration is current that's a plus. Weren't you going to buy one for a track car if they fell to this level? 160K euro seems like a reasonable price for an F 40 even if it needs a bit of work.
     
  7. joe sackey

    joe sackey Five Time F1 World Champ
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    Jim: A friend of mine checked it out. The highlight of his esteemed report was that it was "a bit of a dog's breakfast" (his words).

    Germany is second only to Japan in hokey modifications of the worst kind, so-called strict TUV regulations or not. Some of the most abominable desecrations of Italian sports car reside there, from Miuras to Enzos.

    I must respectfully ask you: On what basis do you think this particular car seems like a good deal at 160k Eu, and do you happen to know how MUCH work this car needs?
     
  8. bobafett

    bobafett F1 Veteran

    Sep 28, 2002
    9,193
    I would imagine that even if the car warranted 150k in work with the best (TP), it would be a great move for someone whom already has a good F40 in their stable and wants to add a second for the fun "I can mess with this one" factor.
     
  9. sir-t

    sir-t Karting

    Sep 24, 2006
    175
    D/A/CH
    #509 sir-t, Jan 31, 2009
    Last edited: Jan 31, 2009
    I doubt that this is a serious offer, know this car and I also had someone looking at it. It was up for sale quite a while (public display > 6 months) and the seller was asking 280,000 EURO for it. In the last 4 weeks it suddenly disapeared from the internet and know it is for sale in ebay. Furthermore the car was marketed by a professional dealership in Germany, the ebay add says its located in Vienna, Austria and this add was surely not written by a german native speaker. So either the car changed hands in the last 4 weeks and the buyer resells it again or something is not quite right with this offer.
    Besides that, it think it has a reason that the seller translated everything besides the INCOTERMS into english : 50% down payment in advance, after reception of the money you get an appointment & the other 50% cash within 3 days at delivery.
     
  10. Caley

    Caley Karting

    Apr 25, 2007
    149
    Sweden
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    M Carlson

    No I will not check it out. Honestly, in this case, I would be more interested in the seller than the car, and the reasons for demanding 50% before pickup.
    I am sure that many of Maddox clients are unhappy, and ask themselves why they sent money without better analysis of this source of investment. I have no indications that Maddox is now in the car business, but I am always careful with very strange terms of trade, and this request is out of my patterns of interest.
     
  11. sir-t

    sir-t Karting

    Sep 24, 2006
    175
    D/A/CH
    #511 sir-t, Jan 31, 2009
    Last edited: Jan 31, 2009

    I disagree with your friends opinion but I respect that some people rather look at than drive their cars because they could show some wear...

    Besides that maybe a little clarification: The TÜV is private (not a governmental agency) and also known for its strict enforcement of the German StvO, TÜV certifications have an excellent reputation in europe. There are others in this market who are not so serious on the regulations ...
     
  12. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
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    Jim Glickenhaus
    Tru dAt.

    Assuming not ebay bull****.
     
  13. joe sackey

    joe sackey Five Time F1 World Champ
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    HAHAHA! Love that analogy Caley...
     
  14. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
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    Jim Glickenhaus
    I'm not sure what you're trying to say. Maddox was a racist who died in 2003. Perhaps you're referring to this quote of his?

    “Honest businessmen should be protected from the unscrupulous consumer”

    Maddox
     
  15. mchas

    mchas F1 Veteran
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    Oct 5, 2004
    5,903
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    Mark
    I think he was talking about Bernie Madoff?
     
  16. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
    32,118
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    Jim Glickenhaus
    Maybe but what does Bernie have to do with this?

    The sellers terms are that after you bid and subject to your right to examine the car (PPI) within three business days you have to pay 50% down and the balance before picking up the car. Seems the seller wants protection from the " unscrupulous consumer" Lester spoke of in his quote. Someone who would bid and without cause such as something revealed in the PPI refuse to go forward quickly. I'm not sure what Caley is objecting to.
     
  17. joe sackey

    joe sackey Five Time F1 World Champ
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    Its quite clear he is talking about Bernie Madoff and his analogy (even though its made from a European perspective) is quite easy for me to understand...
     
  18. Caley

    Caley Karting

    Apr 25, 2007
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    M Carlson
    You are right - sorry for the wrong spelling, and I think you got the analogy just right.
     
  19. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
  20. 430fan

    430fan Karting

    Nov 20, 2005
    64
    I checked out the auction and he specifically demands 50% down before you see the car....you should see the answers he gave on questions asked:

    he will email his passport info as assurance that you will get the car!!

    Very broken german (former eastern european country) sounds like a scam to me.
     
  21. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
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    Jim Glickenhaus
    If you think it's a scam notify ebay.

    Back to the title of this thread. Nice US F 40's are now being offered for less that 400K.

    When this thread started they were just breaking 500K.
     
  22. 2000YELLOW360

    2000YELLOW360 F1 World Champ

    Jun 5, 2001
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    Art
    If only my big feet would fit, I'd be a buyer if they drop another 100k. Bets on when that might happen?

    Art
     
  23. Napolis

    Napolis Three Time F1 World Champ
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    Oct 23, 2002
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    Jim Glickenhaus
    #523 Napolis, Feb 6, 2009
    Last edited: Feb 6, 2009
    Strange days. Hard to say. If the past is a guide there will be an 80% drop from peak to trough. All time peak was 1.5MM so 80% drop would take us to 300K which is certainly possible.

    Car that is being offered below 400K is allegedly a very original 12K mile car.

    Keep in mind the drop from just below 500K asking to just below 400k asking, a 20% percent drop, only took three months.
     
  24. TexasF355F1

    TexasF355F1 Six Time F1 World Champ
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    Feb 2, 2004
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    Jason
    Is there more of a peak/valley with the F40 as oppossed to the 288, F50 and/or Enzo? If so what are some factors to why?
     
  25. Napolis

    Napolis Three Time F1 World Champ
    Honorary Owner

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    In all fairness the F40 speculation did get a bit whack. (1.5MM) that said these are brutal times and the market reflects that.

    A 20% drop in asking prices in 3 months for a good F 40 speaks for itself. Personally I can't see selling any good car into this mess. I'd keep enjoying it as this too shall pass.
     

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