Importing a Maserati into Oz | FerrariChat

Importing a Maserati into Oz

Discussion in 'Australia' started by Dipsomaniac, Jul 6, 2006.

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  1. Dipsomaniac

    Dipsomaniac F1 Veteran

    Mar 23, 2006
    5,956
    Doha/Sydney
    Full Name:
    Derek K
    I'm an Aussie presently living in Singapore, and as I am upgrading to an F575 I am considering exporting my 2003 Maserati Coupe Cambiocorsa back to Oz.

    Does anyone know any car dealers who might be interested in taking it off my hands once it has landed and been through the registration procedures, as I've heard personal imports can be a little difficult to shift? It was bought through the official Ferrari/Maserati dealer here in Singapore and its full service history is available from them.

    Any thoughts would be greatly appreciated.
     
  2. 360C

    360C F1 World Champ
    Lifetime Rossa Owner


    It won't be an economically viable option. Maserati has a pretty poor resale and an import should be effectively sale proof IMHO.
     
  3. stephens

    stephens F1 Rookie
    Lifetime Rossa

    Feb 13, 2004
    4,647
    Australia
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    Stephen S
    I was trying to think of a nicer way of saying that!
     
  4. goober

    goober F1 World Champ

    Nov 15, 2004
    15,895
    Adelaide & Thredbo
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    Buddy Miles
    you are on drugs............arent you, i have seen psychos make more sensible decisions
     
  5. Dipsomaniac

    Dipsomaniac F1 Veteran

    Mar 23, 2006
    5,956
    Doha/Sydney
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    Derek K
    Hmm stiff penalties for drugs in this neck of the woods .. but doing the sums I worked out that my break even was somewhere around A$90k .. so thought it might be worth it, but if you are all so convinced that I'm mad then I'll just look to sell it here locally. Thanks to all for the honest feedback.
     
  6. vroomgt

    vroomgt Formula 3

    Aug 23, 2004
    2,129
    Brisbane Australia
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    John ARBA
    I have noticed with interest that Italia Motori was recently selling a used 456 originally HK delivered.
     
  7. Aircon

    Aircon Ten Time F1 World Champ
    BANNED

    Jun 23, 2003
    100,524
    Melbourne, Australia
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    Peter
    $90k?????? come on guys..surely it's worth it at the price!
     
  8. Dipsomaniac

    Dipsomaniac F1 Veteran

    Mar 23, 2006
    5,956
    Doha/Sydney
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    Derek K
    If you are unaware, I'll quickly explain how the prices of cars in Singapore varies in Singapore to everywhere else. Every car under 10 years old has a "paper value" underwritten by the local roads authority. At the end of 10 years (or any time before that) you will receive a pro rata amount of this paper value when de-registering the said vehicle. In my case, my M4200 presently has a paper value of S$135k versus a realistic secondhand market value of S$210k.

    This means if I decided to export the car, I would receive a cheque for S$135k yet still own the unregistered vehicle. Remembering that my theoretical breakeven is S$210k, then the export value of the car body is S$75k (A$64k) of which I'd have to pay customs duty, GST & luxury car tax upon entering Australia. Using the figures provided by the Australian Customs the total tax figure should be around A$20/25k meaning my A$ breakeven figure is A$85/90k and any price achieved above that could be considered a bonus worth the effort (or not?).

    Obviously there is alot of hassle & redtape involved but I've run these numbers past a local car exporter and they have confirmed them to be correct, so the only "unknown" is the price I could achieve in Australia.

    I hope that makes it clearer.
     
  9. [355]

    [355] F1 Veteran

    Apr 10, 2006
    8,482
    Spacious tent
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    Harold Faltermeyer
    based on 360C rather valid sounding observations my offer is tree fiddy
     
  10. ACP

    ACP Formula Junior

    Apr 7, 2004
    267
    Sydney
    Full Name:
    Anton
    I'd try and sell it in Singapore. People in Australia generally won't touch a high priced import, as they're hard to sell on later and the history can be suspect at best.

    Most people will pay the extra money for a local car as it will always be worth more and easier to sell come resale time.

    New Zealand has less affinity with local cars you could try there?
     
  11. stephens

    stephens F1 Rookie
    Lifetime Rossa

    Feb 13, 2004
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    Stephen S
    Asan Aussie delivery it is worth somewhere in the range of 125K-150K. No idea as an import though.
     
  12. Dipsomaniac

    Dipsomaniac F1 Veteran

    Mar 23, 2006
    5,956
    Doha/Sydney
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    Derek K
    Yeh that's my problem, not knowing how much less an import would be versus an Aussie delivery.
     
  13. stephens

    stephens F1 Rookie
    Lifetime Rossa

    Feb 13, 2004
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    Stephen S
    I'd guess sub 100K would convince someone. An issue you have is no prestige lender e.g. BMW Finance, DC Services etc will touch a grey market car, so you are looking for a cash buyer, or someone who will not need to use the car as the primary security for the loan.
     
  14. greg246

    greg246 Two Time F1 World Champ
    Owner Silver Subscribed

    Jun 2, 2004
    26,627
    I think you will find customs will work out the various duties and taxes based on the actual value of the car and not the export value. So your tax bill might be alot higher
     
  15. Dipsomaniac

    Dipsomaniac F1 Veteran

    Mar 23, 2006
    5,956
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    Derek K
    2 years ago I sent my M3 back to Sydney from Tokyo, and customs used the same valuation I had declared and it worked out to be about 10k in taxes. The difference being that I kept that as my Sydney car for when visiting, and the Maserati I'm looking to sell.
     
  16. greg246

    greg246 Two Time F1 World Champ
    Owner Silver Subscribed

    Jun 2, 2004
    26,627
    fair enough. I would probably factor in a higher amount of tax, just in case you get some arsehole in customs try to make things difficult. Good luck!
     
  17. [355]

    [355] F1 Veteran

    Apr 10, 2006
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    Harold Faltermeyer
    just sell it to some choc "bruno" fruit grower whose made it rich in light of the recent banana boom and knows not what a "grey market" car is
     
  18. 360C

    360C F1 World Champ
    Lifetime Rossa Owner


    Your explanations have made the economical logic a little clearer. On face value there "may" be a $ in it for you. Whether it is worth the hassles that you will encounter to "earn" those dollars is a personal choice. I see that you have imported a new car recently so have some experience. However, I believe that the importation rules have changed since you imported the M3 making it a lot more difficult to import and register a new car. Not an expert here; but from what I know it gets very messy, very quickly.

    Scud might have some insight as he investigated the F40 situation a while back. I was told you could import pre 1990; but not post 1990 as it required crash testing??????

    For me, the $ involved wouldn't be worth the trouble.
     
  19. moretti

    moretti Five Time F1 World Champ
    Lifetime Rossa Owner

    Nov 1, 2003
    59,757
    Australia
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    John
    met him when I bought the 7 series back from the UK, wanted me to pay more duty than I paid for the car in the first place !!

    Told them to push the car into the Harbour and started to walk out, he called me back and asked what I thought was a fair deal (I mean WTF!!!??)

    The way they looked at it was that they could do the right and fair thing (which I had already agreed to when signing all the papers in Australia House in London but the Govt changed the rules while the car was on the boat!!) and get some money out of me, or push the car into the Harbour and get zip (the car was only worth $80k but they wanted more than that for duties)

    In the end we came to an amicable agreement which was still unfair to me but better than a complete loss
     
  20. Horse

    Horse Three Time F1 World Champ
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    The old "sounded like a good idea at the time......"
     
  21. Dipsomaniac

    Dipsomaniac F1 Veteran

    Mar 23, 2006
    5,956
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    Derek K
    Yeh I think I'll have to agree - so best I start looking for a buyer up here in Singapore and save the export plan for a few years 'til I'm ready the send the 575 back as a keeper.

    Thanks again to everyone for their input.
     
  22. moretti

    moretti Five Time F1 World Champ
    Lifetime Rossa Owner

    Nov 1, 2003
    59,757
    Australia
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    John
    wouldn't have even been worth the pain for a ferrari I was going to keep

    bloody wharfies wanted $1500 to get it off the boat and the quarantine people wanted $750 to "clean" the car (which they never did, but they took the money, SCUM!!), it only cost £1000 to get it from London to Sydney!!

    then you have all the other hassles of registration, personal import paperwork, ADRs, blah blah blah

    and the final insult was getting the car knocked back when it went over the pits at Maroubra because it has a hairline crack in the indicator lens !!

    Sold it for about 1/3 of what it was worth
     

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