La Ferrari for sale

This is an honest question. I have been reading about these ghost cities since an article in Bloomberg Weekly in 2010. How come they bubble hasnt burst yet? 3 years is a long time, almost a cycle. I also think we are going towards the end of the road but i dont know when.

 

Sorry for the confusion. I am speaking about office vacancies.

 

Gold is a defensive play. It helps hedge inflation. Consider the case of Germany in 1922. Adam Ferguson's book points out the following.

In 1913, a Liter of milk was 1 mark. In November 1922, it was 78 marks. One month later --202 marks.

In 1913, a pound of butter was 1.2 marks. Nov, 1922 it was 800 marks. One month later 2,000 marks.

Pound of sugar 1913 -- less than 1 mark. Nov. 1922 - 90 marks; one month later 220 marks


Now, if you has 1/10th of an ounce of gold in 1913, you could have bought a liter of milk, plus a pound of butter, plus a pound of sugar, plus a pound of potatoes.

That same amount of gold would have -- essentially -- bought the same products in November of 1922, and December of 1922.

The point is that Gold transcended the paper fiat currency.

Later when Germany issues the new marks to replace the old currency, gold was about 20 marks per ounce--a reasonable stable approximation of its 1913 and 1922 prices.

Gold preserved purchasing power parity, but the return on the investment was not significant.

 

So the luxury car market is falling. Great. Anyone buying cars just to make money instead of driving them deserves to be ripped off. And if Porsche, Ferrari and others make a little less money than what they´re doing now I´m pretty sure they still are going to survive.

 

The point is also that cars are not investments. Take the F-40. If you bought one new, and sold it today, you would have more than doubled your money in nominal dollars. But in inflation adjusted dollars you would have lost money.

 

Does anyone know if it is possible to get an LF at list price. I have seen some dealers advertising them but not sure what they are asking. My personal dealer didn't provide any help. If anyone could provide me with some help that wood be great. Thanks

 

I think a large part of the world economy is on a cliff. We are just buying time here with the infusion of cash into the system. The current system as it is......is not tenable. It's simple math.... and math doesn't lie.

The world isn't going to end..... but it will have to painfully evolve.

 

No profile and no subscription. First F40 questions (which were dutifully answered with no response back) and now LF questions. Are you really in the market? The short answer is that many people are getting an LF at list. If you are still having to ask that question then you know the answer: you're not one of them. Not to sound flippant but that's the simple truth.

 

I did not respond to the f40 post because I was told to go to an already started thread on the same topic. And yes, if I can get get an LF at list price, I will buy one. If anyone could help me out that would be great. Thanks

 

Then I assume the P1 is doomed in your book.

 

The only one who can get you an LF at list price is your dealer. They would have approved you for purchase and then submitted your name to FNA who would then have to approve you. If they want you to have one, they will make sure you get one. What did they tell you?

 

I will go on record here. I am starting to thing about "checking out" of corporate life. I am now 52 years old and tired of 80 hour weeks. I really enjoyed the recent articles Mas Du Clos, and have spoken with a number of collectors about their hobby.

I have a friend that has a pretty good collection. He has a 250 LM, a 275 GTB/4, a 330 GTS, two Daytona Spyders, a 599 and a California. He also likes to buy a car, restore it and sell it. He has a CNC lathe and milling machine in his garage and he loves making parts.

Seeing his lifestyle, I envy it. He has suggested that, before our sons get out of college, we should commit to taking our sons to every single F-1 race on the calendar one year.

Anyway, if I do happen to take this plunge, I want to buy a supercar. Of the 3 big ones out there, LaFerrari is not my first choice. In order, I'd probably buy an Enzo first, then the P-1 then I'd drop back to an F-50, then maybe a 918. I'd even figure out a way to buy a McLaren F-1 (maybe syndicate it with other investors) before I'd buy LaFerrari.

I am not a hater; I don't dislike LaFerrari (or is it 'The' LaFerrari?), but it just doesn't do it for me. Maybe I should say that it doesn't do it for me 'yet,' as I was initially cool on the Enzo, too.

 

Jim, your dislike of Ferrari has also tempered your posts -- and apparently your reading ability.

It's a simple question. Please answer it.

Oh... BTW: I'm paying to drive an MP4 12c on Saturday. I guess I hate them.
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YES!! VERY well said. I'm going to borrow this line from now on.

 

You assumed wrong. In fact, you have assumed wrong too many times.

My point was that you seem to be making a point that all super cars are heading for some kind of cliff.

If that is the case (and I certainly don't know -- you have a better handle on this than me for sure), then the F70 should do best to survive it, the Porsche next, and the others like Pagani and Mac P1 following what is left. There is a limited market for people who want to pay $1.3M + just to have them sit in their garages. Every super car that enters the market must take away another potential customer for the next. It's just too small a market when we're talking about these kinds of numbers.

Rising prices in the classic market also has to hurt. You can buy some outstanding classic cars for 1.3M.

So, that pecking order would be the most logical to me only because the branding pecking order. Of course, not everyone can get an F70 but they can in the used market if they are willing to pay the price.

You raised the point. So, are super cars doomed with the economic cliff and if so, which will fall out worse and why?


And,yes... I am driving a 12c on Saturday. I wanted to for some time now. My friend Senna has one and he loves it. I wanted to see what all the fuss was about.

 

I don't think that these collectors that are paying $1.3m for one of these cars is saying its one or the other. If they are buying one and like the others, they will buy them also.

I personally know someone who has been allocated a LF and 918 and is buying both, along with a Bugatti. One car isn't taking sales away from another, it just boils down to personal preference in the long run on the car.

 

As an amateur historian, I really laughed when I read this line I like it, that's a classic.

Time is the only commodity, but humor can save us from ourselves.

Best,

 

A 250 LM? My favorite Ferrari. Have you ever ridden in it?

 

I did ride in it a couple of time. I didn't drive it--he has offered, but it never seemed like the right time.

When you are in it, it is loud, and cramped, and hot, and claustrophobic . . . and did I say loud? It borders on being completely uncomfortable--there is a wide sill to negotiate; the seats are hard, and you can feel the frame under the leather.

And yet, it is a completely wonderful experience.

He works in lower Manhattan. I will see him again sometime this summer. I will try to remember to get a camera phone picture--but I try not to act like too much of a fan boy when I am around him.

Oh, and I agree with you. Probably my favorite Ferrari of all time, but then again, I have never ridden in a 250 GTO (and at current prices, probably never will).