Ferrari Prices Going Up ?????

Which Ferraris? Mondial 8's or prototype 250 Testa Rossas?

 

With enough inflation, everything will go up. The only problem is, if the economy gets worse, that brings the price of luxury items down.

Doesn't really matter until it's time to sell.

 

what you are seeing is not inflation in the normal sense, but a rise in prices in usd terms due to the steady devaluation of that currency vs others. so yes you will see a price rise in usd in monterey.

better to buy a car that is desireable internationally, can be shipped anywhere, and is therefore more of a liquid and strong currency than your own green bits of paper....

 

Really? Testarossas are going up? 348's? 360's? Mondials?

 

That is what I would like to know too

 

We're not seeing significant inflation, with a dip in June.

The weakness is likely to be in the euro, which should strengthen the pound and the dollar. Greece and possibly Italy are going to the economic flashpoints of the near future. If currency investors see the eurozone as potentially falling apart, I think we'll continue to see strength in the dollar.

Did you hack into my Blue Chip Ferrari Investment file?!

348 SS, Testarossa, California Posh Spice Edition, 599, 360 flappy paddle versions and Mondials: buy one of each and you can stop planning for retirement today.

 

Just what did anyone expect when the previous administration: A) lowered tax rates to prevent the debt from going away, B) created large entitlement programs, C) started two wars, and D) left banking regulation completely to the bankers?

The money has already been printed (Hint: it was called a stimulus.) and inflation will come back with a vengence once the economy turns around. But you basicaly can't have inflatioin when 10%+ of the work-force is out of work, home prices are falling, and low wages for the still employed--there is just nothing left to drive the economy forward. {Maybe as many as 20% if you include the underemployed.}

The US economy is a driving engine for the world economy. The same cannot be said of Greece.

 

A) The previous administration lowered taxes and tax revenue went up (do you have a problem with that?)

B) Im not sure what entitlement programs you are talking about, the stimulus or tax cuts / write offs? As far as entitlement programs you have a current administration who just created the largest entitlement program ever... healthcare

C) ill leave the war thing alone, but you don't run an airplane into one our skyscrapers killing thousands of people and not face repercussions. On the money front, it's likely the wars helped stabilize global interests in the long run, we will see.

D) I could go on and on about this, but the mortgage problem did not start with the previous administration.

It started with Barney Frank and Allen Greenspan pushing/encouraging banks to give out subprime mortgages. The White house does not control interest rates...


As far as Ferraris go i think it's really just based on demand baring any sort of major inflation. On Average it costs a lot less (currency converted and all) to buy a Ferrari in the US due to taxes being much lighter.

 

altho i tend to agree that the usd should do better than the euro, it isnt. i cannot explain it but thats the fact. see todays movement after the euros essentially allowed greece to default, and yet the eurodollar went up. insane.

anyway, we'll see.

andmy comments were directed at bluechip investment grade ferraris.

 

Only in so far as the spending went up much more that did the revenues.

Medicare part D

We have ever right to have gone in and taken Afganistan apart--that is where the terrorists bases were.

We had no right to go into Iraq.

After accounting for the long term medical care for the wounded veterans we will have spend upwards of $4 trillion on those two endeavors. For a mere $40B we could have taken Afganistan apart, destroyed the terrorists and their infrastructure, left and left afganis to deal with the mess.

All of this was off budget.

 

Desirable and rare cars will continue to see an increase regardless. The reason why so-so cars have been going up is due to a strong euro.(in the US) That could change and if it did the euro buying would dry up. Take they currency factor out of things and you'd find it's the desirable and rare cars that are seeing the increases especially as very wealthy buyers get even wealthier during this depression.

 

The euro hasn't changed much against the US dollar for 4 years. It is about 1.44 right now, it was 1.44 in Nov 2008. Went up to about 1.6 in 2008 and down to 1.19 in 2010.

A 5 year graph

http://www.indexmundi.com/xrates/graph.aspx?c1=USD&c2=EUR&days=1825

 

OK, well they've had a 35 - 40% discount for quite a while then. And as supply dries up that drives car prices up too. This is what has happened in the early Porsche 911 market.(although off their peak now)

 

(a) The U.S. dollar is stable. China is supporting it (because they own our debts), and the euro is in for a rough patch.

(b) If you focus on collectible Ferraris then yes, I think it's a fine place to be. We've already seen growth in the markets in China. But the blanket statement that "Ferraris are going up" is kind of like saying "art is on the rise". Comparing the collectibility of 1960s Ferraris to the collectibility of, say, 1990s Ferraris is never going to make sense. You can say that the 348 SS or 599 GTO are more desirable than the standard versions because there were only 100 of the former and 500 (?) of the latter, but long term they are kind of like the Porsche Boxster Spyder is to the Porsche 550 Spyder, or the Mondial T is to the classic 1950s Mondial. One you buy to drive, knowing that it will be obsolete at some point. The other is and will always be an historically significant car.

 

Funny how we voice opinions with such authority!
My father bought a perfect 246 Dino for <$10k when it was just a used Italian car. He bought a Lambo Muira SV for $12k, again just a used Italian car.
The Porsche 550 Spyder was also just a used German car at some point in it's life.
So all you Mondial, 308, 328, 348, 355, 360 etc owners take heart. You just never know!

 

build numbers build numbers......

16,000 360's ensure that only the cs will maintain its value. for example.

 

The 550s were never cheap, always rare.

Dino 246s were cheap, OTOH.

 

Really! 250 GTO's were once cheap! 550 Spyders have always been viewed as the rare collectable cars they are today? Must be the James Dean allure!

 

James Dean had to pull some strings to be allowed to buy his for $6000 in 1955 (average annual income was probably ~$4000 in 1955 in the U.S.).

Then, after he wrecked it, the engine and transaxle were immediately bought and put into service in a So Cal doctor's racer. The four-cam units were produced in very small numbers, and offered huge performance in their displacement class. Later, the transaxle was sold to a gentleman on the east coast, IIRC.

The values were for the hardware, not for the collectibility back then. In 2011, the situation is reversed -- values are based on collectibility.

But yes, they were always expensive.