Buy

GTS Whats it Worth?

Discussion in 'FF/Lusso/F12/812S' started by DrNik, Aug 29, 2021.

  1. NA_V12

    NA_V12 Rookie

    Aug 1, 2021
    26
    Anybody in Miami/Ft Lauderdale area?
     
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  3. Scraggy

    Scraggy Formula 3
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    Apr 2, 2012
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    Scraggy
    Fascinating seeing the differences regionally - GTS in UK was £30k under list very briefly end Q1 early Q2, is now very spec sensitive. A good one of broad appeal will fetch £15K under with an independent and maybe list at an authorised dealer. No chance a premium and can still get H2 2022 slots if connected, though running out faster. It for sure will hold money better than the coupe, I predict the bottom at say 75% of list versus 60%.
     
  4. john Owen

    john Owen Karting

    Dec 27, 2018
    237
    Full Name:
    John Owen
    I'm in the UK and find this info very interesting. I recently bought a high spec 812 SF from a main dealer with 1.8k miles for about £100k under new invoice cost. Are your predicted future values based on trade prices or retail as there is a sizeable spread between the two.
     
  5. Avia11

    Avia11 Formula Junior
    Silver Subscribed

    Jan 21, 2017
    783
    San Diego, CA
    Exactly opposite in the United States. I was just offered 200K over for mine.
     
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  6. Scraggy

    Scraggy Formula 3
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    Who knows John, I think SF is a great buy at that money. As open top V12s are historically rare, likely to be slightly less supply I think they will be a touch more resilient.

    Enjoy your car
     
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  8. Scraggy

    Scraggy Formula 3
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    Nice, lucky boy. If you look at Race trading statement supply is down in US probably due to FX.
     
  9. Solid State

    Solid State F1 Veteran
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    Feb 4, 2014
    6,538
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    Pana Kamanana
    Take it!
     
  10. Avia11

    Avia11 Formula Junior
    Silver Subscribed

    Jan 21, 2017
    783
    San Diego, CA
    Not worth taking the short term capital gains hit … especially when there are smiles for miles.

    I have a 812c coming in so might have to make room in the garage but ignoring this for now. Similar to the Speciale I think the 812 GTS is a very special car and even if values dip over time they are going to come back high. The end of NAV12 aside, Covid, microchip shortages, and an already limited production run are going to be hard to account for in the long run.
     
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  11. RamsHmb

    RamsHmb Formula Junior
    Rossa Subscribed

    Jan 22, 2017
    575
    California
    Curious…have you participated in any of the racing programs w Ferrari? I missed out on the c with a relatively decent history but not in the challenge program. I did get an early GTS which I love.
     
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  13. Avia11

    Avia11 Formula Junior
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    Jan 21, 2017
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    Yes :)… tbh I’m not sure how I feel about the back of the 812c but wasn’t given the option of the 812ca…
     
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  14. RamsHmb

    RamsHmb Formula Junior
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    Jan 22, 2017
    575
    California
    That actually makes me feel better . It is interesting. When I first saw the photos I thought hey were air ducts and cool…when I realized they were fins that were stuck on…a little less cool. Don’t get me wrong, would take one in a second if offered. Congrats!
     
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  15. ScottS

    ScottS Formula 3
    Rossa Subscribed Owner

    Mar 2, 2004
    1,872
    Winter Park
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    Scott S
    To the OP
    Local dealer sold for 799 against 530 spec. Subtract 6% for consigning fees. So 200+ at 6 months. Nice spec. White car CF race seats etc.

    @Avia11 how/ why reporting gains? Don’t usually make money on my cars but curious.

    ScottS


    Sent from my iPad using Tapatalk
     
  16. Avia11

    Avia11 Formula Junior
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    Jan 21, 2017
    783
    San Diego, CA
    my understanding is the law states you're supposed to report it on your tax return? am I wrong?
     
  17. ScottS

    ScottS Formula 3
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    Unsure of the mechanism but in Vegas they report. Real estate same idea. Not sure how the cost basis is tracked etc with cars. That said maybe others with experience ? If you keep a car and it becomes collectible,do people report those cars as well? Never thought about it.


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  18. Avia11

    Avia11 Formula Junior
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    Jan 21, 2017
    783
    San Diego, CA

    I believe it’s only applicable if you sell it. So if you buy a GTS and sell it for 200K over you have to pay short term capital gains. If you keep it and sell it after a year you pay long term capital gains. That’s why I default to just keeping them. My dealer told me the cost basis was the cost of the car + add ons (PPF, ceramic, exhaust etc) + sales tax. I don’t know for sure though.
     
  19. KarlA69

    KarlA69 Formula Junior

    Oct 9, 2017
    715
    UK
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    Karl
    Crazy that the US charges capital gains tax on a car (for personal use)! I don't suppose you get a tax credit / offset for selling at a loss?!
     
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  20. Newjoint

    Newjoint Formula Junior

    Jan 17, 2016
    473
    Unfortunately it’s called depreciation not a capital loss


    Sent from my iPhone using FerrariChat
     
  21. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
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    No one reports that I've ever heard of. Perhaps if it was a business vs. an individual.
     
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  22. Xrayv8

    Xrayv8 Formula Junior
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    Xray
  23. Avia11

    Avia11 Formula Junior
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    Jan 21, 2017
    783
    San Diego, CA
    I bought it as an individual, not as a business, so I don’t have to report it on my tax return?
     
  24. Thecadster

    Thecadster F1 Veteran
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    Apr 27, 2017
    5,172
    Peculiar…for sure.
     
  25. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
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    I am not sure why you would report it unless you feel obligated for some reason. No one would know otherwise.
     
  26. RossoF8

    RossoF8 Karting
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    Aug 3, 2019
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    Todd
  27. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    13,596
    Even if it's personal-use you'd still report it as a capital gain. https://www.irs.gov/taxtopics/tc409
     
  28. Avia11

    Avia11 Formula Junior
    Silver Subscribed

    Jan 21, 2017
    783
    San Diego, CA

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