Is it time to buy an Enzo?

All true. All I'm saying is that as I personally know of someone who bought one for 1.5MM and sold it for 325K the obverse is also true and taking all buys and sales into account it's a zero sum game. Smart traders often make money but IMO attempting to make money buying and selling Enzo's and F 40's except for Experts like you who are in the bussiness is a dangerous game and I think it's fair to say that even you don't actively trade them to make money as opposed to earning a fee for putting buyers together with good cars.

 

I agree that there do seem to be more for sale today than for example a year ago.

Good Luck with your quest and I hope you get a good one at a good price!

 

I wouldn't speculate too much about prices and why someone would want to sell their Enzo. If you want one, just test the market with your offer and go from there. I would, however, find a broker who can attest that your a qualified buyer to save some time and establish the lowest, non-negotiable price among owners willing to sell. But getting into the mind of people that don't need to sell the most impractical piece of machinery ever built is futile.

Just have fun, the buying process is the exciting part I think.

 

Good advice.

 

Yes, I have heard of some who have chalked up staggering losses by buying at the top and selling at the bottom.

You are correct, as it relates to Enzos (& F50s) I tend to just facilitate their acquisition or disposal.

However where F40s are concerned beginning in 1997 (a notable bottom) I have owned & subsequently traded a fair number of them, still do, and likely will continue to do so. Same with 288 GTOs. I follow those cars extremely closely, I like them and specialize in them, and I understand them and their market. Again, you are correct in that if you dont know what you are doing its a dangerous game, and the fact that I dont own & trade (difficult-to-sell) F50s or Enzos simply says I'm not comfortable with the numbers there. Not yet anyway.

 

One important point is that as you are a real dealer you don't have to pay sales tax. I know that some do a lot of BS to avoid paying sales tax but unless you are a REAL dealer IMO that is a serious crime and makes trading cars less profitable for individuals. There is also the issue of tax that is owed on any profit made. Taking the sales tax and profit tax into consideration makes it even harder to trade cars for profit for individuals. Profits are taxed on trading stocks but there is no sales tax.

 

Correct, a private owner or collector has to contend with tax obligations, but also dont forget that holding or owning these cars long term is not an inexpensive proposition from the maintenance standpoint, which also makes most gains negligible.

 

Yup! I would say all the other expenses on top of the purchase price, not to mention the opportunity cost of six or seven figs sitting around in the form of an illiquid artwork (that most owners seem to be terrified of actually driving) instead of assets that pay interest or dividends or that are useful to build a profitable business, make supercar "investing" a negative sum, not zero sum, enterprise. If you want a Ferrari that limits your downside, go get a 348 for $40k.

But if you can stomach all the expenses and still pay your bills for the foreseeable future without straining, then it's ALWAYS time to buy an Enzo!

 

Any info on this Enzo would be much appreciated.

 

I agree with Jim. If you want one, can find one to your liking and can afford it buy it. The story cas seem to be fairly common and the non-story cars are to the moon price wise. Just for example the black one at Steve Harris Imports in Salt Lake. The car has almost 13k miles and list is $1.2m. Ad says one owner serviced there since new but that seems like a lot of money to me. The nice thing is someone got a bunch of joy out of it which is the only way it should be.

 

No. Wait 6-8 months after the second crash has happened which should begin within the next three months.

 

do you think the Enzo will ever depreciate to it's original or inflation adjusted 'list' price?

 

I know the question was directed to Jim G. but considering the recent auction sale that went for 755k, factor in the buyer's added juice to the house and aren't we right there?
As I recall, the MSRP on them was +/- 670k. Correct me, if inaccurate.

 

That car was also an incredible turd. Wrecked by Eddie Griffin and repaired with a generous amount of bondo.

 

Yes, but...that was what it took to sell a US-Enzo at the original US-sticker.

 

Correct. That sale is fact as is that car's history. Assuming a 10% sellers fee the seller kissed her goodbye for 679.5K.

In the future I can easily see a high mileage, put away wet Enzo selling for below original msrp.

SCM reported a high mileage put away wet F 40 in France ns'd at 250K USD (192.3K E) and commented that the buyer should have taken the money.

 

The F50 has receded to just above original list, and the Enzo is made in greater numbers than the F50 so why not?

 

"It is so choice. If you have the means, I highly recommend picking one up. "

 

What is a rough realistic acquisition price today for a no-stories car with less than 5,000m and not needing major mechanical service?

 

Personally I'd only buy an Enzo from an authorised dealer who'd give me a 3 month warrantee. For one of those in perfect mechanical shape that had been regularly serviced I'd offer 1MM in red and 1.1 in black up to 5 K miles.

We know the price for a storied one is 770K.

It's also my opinion that Enzo prices across the board will drop about 10% over the next year.

Joe is closer to the day to day market than I am.

 

Thanks Jim.

 

Reasons for the warranty? New scenario: Private party with 5 to 10 K miles. What do you offer?

 

There's a lot to go wrong, engines start making metal, one of those $22K CF brake rebuilds rears it's ugly head....a dealer can stand behind those sorts of issues...

Mr. G. probably knows more than I, just a few examples I 've seen here (outside looking in)....