For prices to keep going up, don't you need new buyers? A Dino is not Millennial friendly. It is a real car.
dinos have been on a decline since they were $80k, literally....when was the last time a dino traded for $80k?
Is there a youtube video on fixing Dinos? Screw that, is there a youtube video on how to drive a stickshift?
I respectfully disagree Kenny. While market values of many Enzo-era Ferrari appear to be flat or stable over the last 10 years, the value of the dollar(and other currencies) has declined. 275s may still be $2 million + or - but 2024 dollars are worth a fraction of 2014 dollars. Many of these cars have actually declined. GTCs look particularly weak. My 2 cents.
The price/inflation numbers are correct ($2M-2014 is $2.5M-2024 dollars), but to me that is not significant enough to bring that car (275) back to attainable territory for 99% of the world. I agree by some specific models, absolutely (the GTC is a good one, and I agree that is a pretty big decline vs. 10 year ago values). I'm cheering FOR it, just remember I would love to buy a 330GTC for $100K and a 275 at $4-500K, I just don't ever see it getting close to that, if ever.
And thats true for every asset money can access. The guy who has prolonged buying a dino to price has forgone a ton of opportunity cost (enjoying life) since the original post.
Some data from Classic.com/Hagerty and a quote from Hagerty 2023 Bull market list to go with it. The bubble is leaking. It has not burst and probably wont unless some cars like Dinos are singled out. Just like picking stocks, this is a game that will reward some and punish many. "We've learned a few things from seven years of publishing this list," said Brian Rabold, Vice President of Automotive Intelligence. "No matter which direction the market is headed, there are always cars that move ahead. These opportunities exist across decades, price bands, and genres, but ultimately, we always encourage people to buy what they love." Image Unavailable, Please Login Image Unavailable, Please Login
Mecum reported record sales at their 2024 Kissimmee auction of $275 Million. So from a money inflow point of view, year over year, its still increasing. Sell through rate decrease can be attributed to the low information speculators stepping away for now. Image Unavailable, Please Login
According to this summary (attached image), TikTok will be the dominant social media platform for commerce in 2024. Also, apparently the "Experts" believe that the USA will skip a recession which means that the later part of 2024 will see some slowdown in the slowdown. The 2024 election results will be key to how the markets will change direction. Image Unavailable, Please Login
Prices in vintage Ferraris rarely go down by much (forgetting the ‘90s). But they might not go up much. That said, they are cars not investments. Sent from my iPhone using FerrariChat
Absolutely true. The textbook definiton of an investment is something that produces recurring cash flow. Cars only lead to recurring expenses
Maybe semantics, but that is not the definition, as 'cash flow' can be a constant, or a horizon, with all focus on a profitable result. Cars absolutely lead to recurring expenses (ask me how into the red my '88 M3 has gotten...) BUT some may see that investment into a tangible as something to enjoy while either 'cash flowing up, or cash flowing down' but bought with a GOAL of UP, and the opposite of say buying stock XYZ for $25/share and watching the "cash flow" go down to $10/share. We'd probably agree though humans are good at one thing: finding things they like to throw burning piles of money at, while trying to have fun
This, I’ve always told chicken littles, anything can happen, up or down. Nobody knows. Just peruse this thread though, and you’ll find no shortage of folks that say they dont *think* market will go down, but it *will* go down. 11 years is a long time to hold that position. Just asking them to own up.
How the markets change direction over the next 9 months will be key to how the 2024 election plays out. The election is not going to have any immediate effect on Enzo era Ferrari prices.
