Ferrari of Long Island Ad in WSJ

What was the ad for - to buy cars, or the dealership and its inventory (as in going out of business)? Was it an add or an article?

 

Here is a scan of the ad. In light of the thread Napolis started regarding crashing 430 and 599 prices I found the ad sort of odd. Haven't seen anything like it in a long time from a Ferrari dealer.
Image Unavailable, Please Login

 

Premium investment...?!? It's a ****ing car...! This is great... Now it's officially in print that these cars should be diapered and velvet-roped instead of being driven. The earth's crust could crack open tomorrow, and a swarm of acidicly venomous, winged spiders could emerge, rendering us extinct. But at least the 599 in the garage has low miles.

[size=1,000,000][/size]

 

I have to say, that this is not going to end up as goodwill for this dealer. People that don't bite, see how ridiculous the ad is. People that do, may find out later that they were manipulated and hate the dealer.

Anyone that understands liquidity, knows why you can't compare the stock market to Ferrari sales...

 

Prudent investment - thats pretty funny . So if I buy a F430 today, its going to be a "prudent investment". Somehow, I would think not. A t-Bill is a prudent investment. An F430 and a F599 is not - they're going to go nowhere but down and cost you money to maintain in the process.

Now if you can measure fun in $ terms - a Ferrari is an amazing investment of course.

 

Its the Dodgy Brothers Secondhand Car Sales.
These guys have your interests at heart and have immense respect for you and your intellect.

I think I'll put my trust in them and my families lives in the hands of their wonderful service facility.

 

Although I applaud this add in good humor, in MY07 the 599 could not be bought by the average buyer at MSRP. The sticker then was one thing, but market value at the time was a very diffrent thing..In MY07 599's ware wholesaling over $450k. Such as most of the talk here about the availability of the 430's/360's and what they are truly trading at, even siting AOL motors as a source (most of the cars listed there have been sold, and are made up of "crawlers" from other website). Buyer's that are shopping for these cars are finding a very diffrent reality then what has been talked about in these recent threads.

 

Well, it's an attention-grabbing ad, which was the whole purpose.

Obviously if the market loses 5,000 points over a few weeks anything except dairy products would have been a better investment. It's also a tad misleading, because the first 599s were scalped for $500K to "investors" who have probably lost $150K or more this year on their unlimited production modern Ferrari.

 

Q: How to make a "small fortune" with exotic car "investments"?

A: Start with a "large fortune" first...!

 

Sad, Pathetic and misleading. The numbers they cite are msrp. A year ago the 285K msrp. (Used with low miles) cars traded at 500K. Today the 345K msrp. cars (Used with low miles) trade at 300K. Minus 200K from peak to today and falling.

 

The ad looks like a Dodge ad. $5000 credit toward the purchase of your next vehicle got me.

 

+1 My point exactly in my post above..In MY07 599's ware wholesaling over $450k!!!!

 

OMG, boys. Not that it affects me at all but this is pure tongue in cheek. Clever ad and an attention grabber as per the DDB model for VW. Push em out the door anyway you can and have a little fun in the process.

 

Chris

What you're saying is not true. I have put several buyer's in touch with a Sponsor of this site who is selling 599's and 430's at the prices I mentioned which are many 10's of thousands dollars less than the prices you are offering similar cars for at your non FCHAT sponsored dealership.

Another FCHAT Sponsor. (Not Roy) is offering New 2008 Gallardo Spyder e-gear's @ $170,000, a New 2008 Gallardo Superleggera @ $180,000, a New 2008 Gallardo LP560 coupe e-gear@ $170,000, a New 2008 Murcielago LP640 coupe @ $295,000, and a New 2008 Murcielago LP640 coupe @ $290,000. These are New Cars. Test miles only with window stickers. Once again if anyone wants a hook up let me know. Once again I have no finincial interest in these cars. I am only trying to help FChatters get a deal if they want one.

 

Hmm, this sounds like "yet another case" of experts not being able to accurately price "complex financial instruments", aka "investment automobiles"...

 

This is whistling past the grave yard and for a NY area dealer a very stupid and sad advertisment to place at this time. I believe it does not reflect positively on FOLI or Ferrari S.p.A. which I'm sure was unaware of it, and that FOLI will come to learn that the hard way.

 

There's a bit of a difference between "Experts" and "Dealers"...

 

WHOA! Jim! the cars I am offering are in line of todays market. Plus where did I mention my dealership??? This is not your thread offering cars, this thread is about an ad in the WSJ. Now do I belive you, that cars are out there at these prices? Sure and I am searching, and using every tool I have to find them and every major broker and dealer in the network. I just sold a MY07 Spider for less $170k with 3,000 miles so I know that is right...There are deals out there.! If you wish to talk anymore about this Jim, you have my number please call me!

 

i can't believe how many people are taking this ad so seriously.

 

Chris

I'm going to let your own words speak for you:

On 10/16-2008:

"Originally Posted by SDChris
No Jim, I answered you directly..I am still offering MY07-MY08's in the $265-$275k range, the same as they ware for me in July!"

Today you post:

"I just sold a MY07 Spider for less $170k with 3,000 miles so I know that is right..."

 

Perhaps they should have added a smiley...

 

SD Chris: I don't think you can have it both ways. On the one hand, in many of the threads I have seen, you have attempted to prop up prices by claiming that the market is not as "down" as others claim it to be. Yet, everytime Jim takes you to task, you backpedal, and claim that you are not trying to sell cars by making these postings. This thread is just another example. Despite the "doom and gloom" in many of these "price crashing" threads, you state in this thread that: " Buyer's that are shopping for these cars are finding a very diffrent reality then what has been talked about in these recent threads."
As I read that statement, you are suggesting that prices are not nearly so low as these threads would cause one to believe. Yet, when Jim calls you out, your response is that you are not trying to sell cars off your lot here, and indeed, you just sold a Gallardo for what you believe to be a reasonable price.
I think, in fairness, that you should make it clear every time you post, that you are a dealer, and that your views have to be read with that in mind. Frankly, I think you are not doing yourself any favors here, by constantly trying to shore up your own prices, and then deny that you are doing so. Just my take.