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Ferrari Monza SP2 future value

Discussion in 'FF/Lusso/F12/812S' started by JP@Essexwold, Jul 20, 2019.

  1. JP@Essexwold

    JP@Essexwold Rookie

    Jun 23, 2018
    6
    Essexwold , Johannesburg
    Full Name:
    Jaiprakash Hargovan
    Hi
    I’m new to Ferrari chat and hail from South Africa. I’ve been a Ferrari owner for ten years now and love the cars from Maranello. I have recently been given the opportunity of buying an SP2 at no premium.
    I would like to know what is the general opinion about the future appreciation in value of this car.

    Thanks in advance for your comments.
     
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  3. Scraggy

    Scraggy Formula 3
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    Highly risky. The fact you are asking is illuminating.

    Beautiful design and carbon features, borrowed running gear and engine. Very impractical, tiny market. Many good judges I know have stayed away.

    For me is a £5/600,000 car.

    Keep your powder dry bargains are imminent on 2/3 year view.
     
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  4. JP@Essexwold

    JP@Essexwold Rookie

    Jun 23, 2018
    6
    Essexwold , Johannesburg
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    Jaiprakash Hargovan
    Wow. I’m surprised at the depreciation you are predicting on that car. Thanks for that in any event.
     
  5. Scraggy

    Scraggy Formula 3
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    Not suggesting that depreciation, suggesting what it should be priced at new
     
  6. George330

    George330 Formula 3

    Oct 19, 2009
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    Very hard to know where the car will price in the secondary market. it is restricted for 18 months, so anyone who sells will get in trouble if they don’t sell to their dealer. Also the market is cooling off, so I don’t think that speculators will be hunting these given the purchase price, lack of road legal status in the US, impracticality etc. Unless of course someone works their magic and gets “show and display” in the US. Then all bets are off...However it is the most beautiful Ferrari in decades, it is a 12 cylinder NA car, it goes and sounds great, it is relatively rare (499 cars split probably 70% SP2 and the rest SP1) and it is one of those instant classics that -in my opinion- people will appreciate only when they see them driving around.
    Not sure I buy the “borrowed running gear and engine” argument. You only need to check what an Alfa 8C looks like under the skin (or a BMW Z8 for that matter) and then look at their second hand prices. Both have “borrowed running gear and engine”, both are average to drive (I am an ex owner), both are drop dead gorgeous to look at and both trade at large multiples of what the car that lent them the engine and running gear is trading at. Of course we are talking used car prices and not new, but I hope you get my point.
    At the end of the day you should only buy the car if you can afford some depreciation.


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  8. JP@Essexwold

    JP@Essexwold Rookie

    Jun 23, 2018
    6
    Essexwold , Johannesburg
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    Jaiprakash Hargovan
    Thank you for your words of wisdom. Time has come for me to spec the car. Waited a long time for this moment. Will post what I eventually go for.
     
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  9. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
    15,734
    At least one Monza has already been sold in Switzerland after only a few months (not 18!) and not to the dealer. Maranello is not amused. The original owner made a few hundred grand.

    Marcel Massini
     
  10. Lukeylikey

    Lukeylikey Formula 3
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    Mar 3, 2012
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    Can’t see how it is going to depreciate heavily. They will hardly be used, they are rare, they are perfect collector cars and they are very, very beautiful. Marcel’s comment is an interesting insight. I was quite surprised at the price and felt it too risky for a car I couldn’t easily use but on the other hand, it is an all-new shape, made mostly of carbon, and did I mention it was beautiful....? Sound, rarity and beauty. It looks set.
     
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  11. George330

    George330 Formula 3

    Oct 19, 2009
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    Correct sir. Do you think Maranello will take legal action?
    I am amazed that this happened after what all owners were asked to sign...


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  13. Marcel Massini

    Marcel Massini F1 World Champ
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    I cannot answer and am not Maranello. I have no idea.

    Marcel Massini
     
  14. Elisesko

    Elisesko Karting
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    Jan 27, 2016
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    Maybe the dealer didn't want to exercise their right and wished the owner luck in getting the couple hundred.
     
  15. JTSE30

    JTSE30 Formula 3
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    Oct 1, 2004
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    Right of first refusal....dealer given first opportunity, dealer demurs, car is sold, process followed, no one is in trouble. Can't imagine it's a "no sale" clause for 18 months...
     
  16. BarryK

    BarryK Formula 3

    Dec 17, 2016
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    The very first sale prices of a new model are not usually representative of where the market is since there's typically someone desperate enough to pay up, sometimes even for a production car. But, if the dealer didn't see enough premium in there to feel confident of exercising his buyback rights, that probably tells you a lot about where prices might head in the open market.
     
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  17. Marcel Massini

    Marcel Massini F1 World Champ
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    Mar 2, 2005
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    I understand the dealer wasn't even contacted and had no knowledge at all.

    Marcel Massini
     
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  18. NeilF8888

    NeilF8888 Formula 3

    Feb 10, 2005
    1,028
    Miami Beach
    Can’t imagine the Monza not going up in value. 70% will be sitting in collectors garages next to a LaFerrari and the balance of the original buyers are trying to upgrade their 458 Aperta and TDF collection to start to collect the Icona series cars as it doesn’t seem their will be many numbered limited production Ferrari’s being offered.
    While not the super car the LaFerrari is, the Monza has a more advanced and powerful V12 with none of the future annoyance of battery replacement and obsolescent technology. It’s a question if the tremendous performance of the LaFerrari out weighs the beauty of a open air classic collectible design that’s fun to drive and show. I believe many collectors are below the driving capacity of today’s super cars, but will love driving the Monza to car shows, cavalcades and rallies. Also many original buyers will not sell for fear of being passed over by Ferrari for the next Icona or LaFerrari evolution.

    With few Monzas on the market and many people who were passed over for the Monza wanting this instant classic, imho prices should move north to where LaFerraris trade in the future.


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  19. ag512bbi

    ag512bbi F1 Veteran
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    Nov 8, 2003
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    I agree with you, but note the Monza 1 & 2 are NOT street legal in the USA. That may make the value go up or down for the USA collectors.
     
  20. PaulK

    PaulK F1 Rookie
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    There will be many Monzas over here, regardless of it being street legal. My dealer got several and I am in the midwest.
    This is a 2mm car and the people that have it can afford to keep it forever.

    I think the SP1 will be the one to collect. Pretty much everyone seems to be getting SP2s.
    The SP1 is cooler anyway. ;-)
     
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  21. NeilF8888

    NeilF8888 Formula 3

    Feb 10, 2005
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    Miami Beach
    If I told my wife I bought a $2mm Ferrari with one seat it wouldn’t go over well, decided on the SP2.

    Actually I thought about doing the cavalcade, the Mille (modern) and rallying and having done some of these type of events, I know you need a navigator.

    I’ve seen quite a few SP1’s and guess they will be between 25% and 35% of the total production.


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  22. George330

    George330 Formula 3

    Oct 19, 2009
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    Again 100% correct, the dealer was not offered the car back


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  23. MisterMaranello

    MisterMaranello F1 Rookie

    Apr 5, 2011
    3,127
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    I heard a wise statement the other day saying just because a manufacturer says a car is special doesn't mean the market says so. I think we will know the true appetite for Monza down the line when more of the "heritage" line of cars are out and in the hands of collectors. This is just the beginning of a series. There will always be a queue jumper ready to pay % over list for a special car.

    There is great insight already in this thread, but something I have yet to see mentioned is the volume / demand. Ferrari is producing more special editions in higher numbers to fill the demand - as opposed to making only a few cars and leaving revenue on the table. Surely this will effect the "premiums" over factory pricing as a larger bowl of the interested parties get their desires satifised directly from the factory at retail pricing. I heard during a visit to Maranello last year that the first batch of cars used for press purposes where sold to clients at a discount - something I have never heard of before with Ferrari. The fact being offered a Monza at no premium also says something.
     
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  24. Caeruleus11

    Caeruleus11 F1 Veteran
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    Jun 11, 2013
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    I find the US street legal discussion interesting. On one hand, it would be best if the car were street legal here. On the other hand, many people who are getting these cars have access to dealer plates where they could drive the car briefly. I doubt anyone will put on serious mileage on these cars. Indeed, look at all the low mile special cars on the market, some with a few hundred miles after a decade or more. Being street legal probably didn't really affect their use all that much!

    My feeling is these cars will be sought after collector items for years to come, but I certainly don't know for sure, just my opinion.
     
  25. PaulK

    PaulK F1 Rookie
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    I think the cars that are coming to the US are coming under Show and Display.
     
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  26. unogib

    unogib Formula Junior
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    Jun 26, 2006
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    Source? According to the NtSB, the Monza is still not showing on their approved list. Could just be it’s slow to update however.
    https://www.nhtsa.gov/importing-vehicle
     
  27. PaulK

    PaulK F1 Rookie
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    I am just saying "think" as I do not know for sure.
    I don't believe the car has to be on a list to be imported under show and display. I could be talking out of my ass for all I know.
     
  28. NeilF8888

    NeilF8888 Formula 3

    Feb 10, 2005
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    In order to be approved and be put on the “show and display” list all production must be complete for that model and the manufacturer must certify less than 500 were produced. We will have to wait to see if the Monza will be approved after all production is complete.


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