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Hagerty sez LaFerrari drops 22%

Discussion in '288GTO/F40/F50/Enzo/LaFerrari' started by Texas Forever, Dec 16, 2019.

  1. Texas Forever

    Texas Forever Four Time F1 World Champ
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    Texas!
  2. SCEye

    SCEye F1 Rookie

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    Is this only for US market? I wonder how many LaF's are sold per year. Statistics become less reliable once the number goes down to the teens or single digit.
     
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  3. crinoid

    crinoid F1 Veteran

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    Someone should give me theirs before they lose MORE money.
     
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  4. vrsurgeon

    vrsurgeon F1 World Champ
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    Fantastic News! I'll be able to afford one in only 97 years instead of 120 years! ;)
     
  5. roma1280

    roma1280 F1 Rookie
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    The reality of the failing batteries is starting to sink in. Same for P1s, issues now with 918s too.
     
  6. roma1280

    roma1280 F1 Rookie
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    LaFerrari
    August 2018 RM Sotheby’s $3.3m
    September 2019 Bonhams $2.2m
    -33%

    crazy move in a year
     
  7. Ferrari 308 GTB

    Ferrari 308 GTB F1 Veteran

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    Music stopped a few years ago , now not enough seats to go around. Speculators gone to ground for now at least.
     
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  8. malcolmb

    malcolmb Formula Junior
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    so-only a 100% profit at 2.2million? most of us amateur investors think
    this is a good return...Malcolm
     
  9. sixcarbs

    sixcarbs F1 Veteran
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    That's very real. I doubt these auction examples have many miles or vary much is condition.
     
  10. ttforcefed

    ttforcefed F1 World Champ
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    ehh not so quick. i friend just took one down for $3m+
     
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  11. vrsurgeon

    vrsurgeon F1 World Champ
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    Does that make it official that the bubble has popped? The late eighties repeat themselves again! Only so much room for appreciation of "alternative investments" that don't actively produce income. The nice thing about the under $150k segment is you don't have to worry as much about taking it out for a drive! For that reason I argue the lower end of the "collectable" market will soldier on. Also more potential buyers for a $100k car than a $3 mil car.
     
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  12. ttforcefed

    ttforcefed F1 World Champ
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    to me down 50%+ is a bubble pop. down 20 to 30 is a correction and down 10%to 15% is noise.
     
  13. tbakowsky

    tbakowsky F1 World Champ
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    What is the average milage of a LaFerrair? I have a customer who has one, and it only has 368km..that's right 3 hundred and sixty eight kilometers.

    So in this market, what would that car be worth? (He is thinking of selling btw). Poor thing just sits around doing nothing..
     
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  14. vrsurgeon

    vrsurgeon F1 World Champ
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    It's an "investment". Not a car that gets driven. Akin to sculpture. So lets see... 508 pounds of carbon fiber, 1195 pounds of aluminum, 123 pounds of plastic. Sold on open market.. let me see...

    *old mechanical calculator sounds*

    Yup. As I thought. $1026.23. I can send a check tomorrow.. ;)

    On serious note, as much as the next guy who wants to buy it and let it sit in a garage for another 5 years. Why is he selling? To buy 4 cars that he'll actually drive? Or an apartment in a sunny place that also sits 9 months of the year? ;)
     
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  15. tbakowsky

    tbakowsky F1 World Champ
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    He has a bunch of cars he is thinking of selling. He has lost patience for the older stuff. He just wants to turn the key and go. The LaF for him is just an investment piece, he doesn't care to drive it..to scary and causes accidents.
     
  16. cnpapa24

    cnpapa24 F1 Rookie
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    Important to know the facts when talking about auction results. The 2018 car was a 150 mile car (with proceeds going to charity. )

    The 2019 sale was a color change and interior change. Wonder why it needed to be repainted after a year...
     
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  17. roma1280

    roma1280 F1 Rookie
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    that’s a fair point, sorry I didn’t research the cars
     
  18. RonH

    RonH Formula Junior
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    I totally agree. For major investments I invest in the stock market, not the car market. However, I do like the under $150K toy market. I own a few there and the great thing is you can drive them and have fun with them and they might ultimately make you a little money or you at least wont lose your shirt.

    Here is what Hagerty says about that market and what’s hot:

    https://www.hagerty.com/articles-videos/articles/2019/11/27/25-hottest-collector-vehicles-heading-into-winter-2019

    Personally none of Hagerty’s cars are appealing to me and I think some are dogs with fleas, but to each his own and that is why the under $150K market is so much fun.
     
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  19. vrsurgeon

    vrsurgeon F1 World Champ
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    So happy to see some 80's and 90's cars coming into the mix!
    Also funny to read the comments from some regarding the pre-70's era. Ain't gonna be pretty to the "Muscle car era" cars when the boomers pass on...
     
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  20. RonH

    RonH Formula Junior
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    Of course, that said, the pre 70s market is what I like. But as a boomer I will be dead when that market crashes so all good. ;)

    (In the meantime I am putting an automatic into my 65 Vette and maybe a millennial will someday take it off my hands since they will be able to drive it).
     
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  21. FerrariFR33458

    FerrariFR33458 Formula Junior

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    When more SF90s hit the road, and if people like them, will the LaF drop more? The SF90 is faster, cheaper, more accessible.
     
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  22. roma1280

    roma1280 F1 Rookie
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    Not a “supercar” though so won’t take the LF’s place in car collections
     
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  23. RedRacer

    RedRacer Formula Junior
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    Car color is essential in value. Red is cheaper than black. Some other colors are worth more than black. Miles is a factor as well. Lithium Ion battery with labor is around $13,000.
     
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  24. roma1280

    roma1280 F1 Rookie
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    Yes maybe for the small one, the main is about €80,000 I believe
     
  25. FerrariF50lover

    FerrariF50lover Formula 3

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    Barret Jackson has reported that the average age of the muscle car buyer is getting younger and younger. Guys in their 30's grew up loving these cars because of their parents and the market is staying strong.
     

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